Peter Thiel’s hedge fund Thiel Macro completely exited its Nvidia position in Q3 2025, slashed its Tesla stake by 76%, and invested the proceeds into Microsoft, which now represents about 34% of the fund’s total portfolio. Q2 2026 filings reveal that Thiel Macro has also built a significant Amazon position worth nearly $118 million, representing about 28% of the portfolio. Between Microsoft and Amazon, the fund now concentrates roughly 62% of its assets in just two stocks. Thiel Macro’s assets are estimated between $74 million and $419 million. Microsoft has delivered approximately 347,000% return since its IPO in March 1986.
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