Thiel Macro LLC rebuilt its disclosed U.S. equity portfolio to over $400 million in Q2 2026 after reporting zero holdings for two consecutive quarters, SEC filings show. The Peter Thiel-linked manager concentrated roughly 72% of the portfolio in power and energy-related names, alongside a $118 million position in Amazon ($AMZN).
- Thiel Macro reported no 13F holdings at year-end 2025 or March 31, 2026.
- New Q2 positions included American Electric Power, CMS Energy, DTE Energy, FirstEnergy, Vista Energy and recently public nuclear developer X-Energy.
- Amazon, Thiel Macro's largest holding at roughly $120 million, has separately pursued nuclear power for its expanding data-center infrastructure, including an X-Energy partnership aimed at developing advanced small modular reactors.
- The fund also returned to Vistra, increasing from a prior 208,747-share position held in 2025 to 372,755 shares worth $59.1 million at the end of Q2.
- Several portfolio companies are actively lobbying Washington on the power constraints accompanying data-center growth, including artificial intelligence, load growth, grid reliability, transmission, permitting and nuclear energy.
- AEP's 2026 disclosures specifically list AI, data centers, advanced nuclear reactor siting and DOE financing; FirstEnergy lists AI, data centers, load growth, transmission and permitting reform; and Vistra has lobbied on data centers, grid reliability, nuclear fuel supply and permitting reform.
- AEP Texas agreed to a DOE loan of up to $3.26 billion, while AEP Ohio joined a federal partnership supporting a planned 10-GW AI data center and $4.2 billion transmission buildout.
- DTE signed an agreement to power Google's planned 1-GW Michigan data center.
- Thiel Macro acquired 200,000 X-Energy shares; the advanced-nuclear developer is set to receive up to another $1 billion in DOE funding for its Texas reactor project and has signed a Centrus agreement for future LEU and HALEU fuel supplies.
- Thiel is also a director and investor in nuclear-fuel startup General Matter, which received a $900 million DOE task order in January to build domestic HALEU uranium-enrichment capacity.
- ProPublica reported that Thiel participated in vetting at least one candidate for the Department of Energy's Office of Nuclear Energy in late 2024.
Relevant Companies
- Vistra ($VST) — Thiel Macro returned with a larger $59.1 million stake.
- American Electric Power ($AEP) — New $42.2 million position alongside major grid and AI-infrastructure projects.
- X-Energy ($XE) — New 200,000-share position in an advanced-nuclear developer receiving substantial federal support.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
