Peter Thiel's Fund Returns to Stocks With $118 Million Amazon Bet, Its Largest Q2 Position

3-line summary

• Peter Thiel's Thiel Macro hedge fund reported zero 13F stock holdings at the end of December 2025 and again as of March 31, 2026, but its Q2 filing showed a rebuilt $418.7 million public-equity portfolio, according to a Yahoo Finance report.
• Thiel Macro's largest position is nearly $118 million in Amazon stock, about 28% of the fund's total 13F portfolio; every position in the portfolio was newly established during the quarter.
• Amazon shares rose roughly 14% on July 31 following earnings that showed its AI spending translating into visible returns, and management raised its 2026 capital spending guidance to $220 billion; the stock closed at $278.09 on August 10, up about 19% for the year at that point.

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