New York, Feb 1, 2026, 01:25 EST
- Thiel Macro’s latest disclosed U.S. stock filing listed stakes in Tesla, Apple and Microsoft, with no Nvidia position
- The fund held 537,742 Nvidia shares at end-June 2025 and reported none three months later
- The reshuffle is resurfacing ahead of Monday’s U.S. market open as investors reassess AI exposure
Thiel Macro LLC, the hedge fund run by Palantir co-founder Peter Thiel, held stakes in Tesla, Apple and Microsoft at the end of September 2025 and no longer reported a position in Nvidia, regulatory filings showed. The report listed 79,181 Apple shares worth about $20.2 million and 49,000 Microsoft shares worth about $25.4 million, and showed the fund had held 537,742 Nvidia shares at end-June and cut Tesla to 65,000 shares.
Fresh commentary over the past day on Yahoo Finance and Intellectia.AI has revived the late-2025 portfolio switch ahead of Monday’s U.S. market open. It matters now because traders are looking for signals that the AI trade may be pushing some money back toward larger, more diversified tech names.
The renewed focus comes as investors weigh the price tag of the AI buildout. Jensen Huang, chief executive of Nvidia, told reporters in Taipei on Saturday it was “nonsense” to suggest he was unhappy with OpenAI and said Nvidia’s investment would be large but not $100 billion. Reuters
Thiel Macro’s disclosed U.S. equity holdings fell to about $74.4 million at Sept. 30 from about $212.0 million three months earlier, data from the filings show. The disclosures also showed the fund dropped Vistra and swapped into Apple and Microsoft.
Form 13F is a quarterly list of certain U.S.-listed shares and options that investment managers with at least $100 million in qualifying securities must file with the U.S. Securities and Exchange Commission. It does not include cash, bonds, private holdings or many derivatives, so it offers only a partial view of a portfolio.
The Motley Fool, which highlighted the filing in a Jan. 31 note, said the move could be read as “a rotation out of a stock that has soared” and a shift into stocks “that haven’t seen such enormous gains.” The Motley Fool
Nvidia has become the main supplier of graphics processing units, or GPUs, the chips used to train and run many AI models. Rivals such as Advanced Micro Devices and Broadcom have been pitching alternatives to cloud customers, but Nvidia still dominates investor attention.
Thiel’s fund is small next to the tech giants it trades, but his positions get watched because his bets have often run against consensus. The filings show a tight portfolio that can change quickly.
But 13F filings are backward-looking and often incomplete. They land weeks after the quarter ends, and they do not show short positions or many derivatives, leaving investors guessing about what a fund owns today.
In a filing for the quarter ended Dec. 31, 2024, the fund reported stakes in Amazon, Nvidia and Tesla, including 246,893 Nvidia shares.
For now, the Sept. 30 filing leaves Thiel Macro concentrated in three mega-cap names, with Apple and Microsoft making up just over 60% of the disclosed holdings by value. The next set of quarterly disclosures will show whether the shift held through year-end.
