Thiel Macro rebuilds $400 million portfolio with focus on energy and Amazon

Thiel Macro LLC, a fund linked to Peter Thiel, has rebuilt its U.S. equity portfolio to over $400 million in the second quarter of 2026, following two consecutive quarters of zero reported holdings.

According to SEC filings, the fund has heavily concentrated its strategy on the intersection of energy and technology. Approximately 72% of the portfolio is dedicated to power and energy-related companies. Amazon represents the largest single position, valued at roughly $120 million.

Other significant holdings and new positions include Vistra, with a position worth approximately $59.1 million, as well as American Electric Power, CMS Energy, DTE Energy, FirstEnergy, Vista Energy, and the nuclear developer X-Energy. The investment focus aligns with the rising electricity demands driven by data center expansion and artificial intelligence infrastructure.