Peter Thiel's Fund Reported Zero Stocks for 2 Straight Quarters. Its $419 Million Comeback Put 72% Into Energy and Power.
The fund reported nothing for six months. Its comeback filing lists one tech stock and seven energy bets.
Overview
Peter Thiel's hedge fund disappeared from the stock market for six months. Thiel Macro, the firm that manages the billionaire's money, reported no U.S. long stock holdings at all for two consecutive quarters (the periods ended December 2025 and March 2026). Then, earlier this month, it filed a portfolio of eight names worth $418.7 million as of June 30.
One caveat belongs up front. A 13F filing covers only a manager's long positions in certain U.S.-listed securities. Short bets, futures, currencies, private stakes, and cash are all invisible to it. Those two empty quarters, then, don't mean Thiel's fund held nothing. They mean it held nothing the form counts.
Details
Still, an empty stretch says something. And so does what the fund bought on the way back in.
Source
Originally published at www.fool.com.