Why Peter Thiel Sold Microsoft (MSFT), Apple (AAPL), and Tesla (TSLA) Heading Into 2026

TLDR

• Peter Thiel’s hedge fund, Thiel Macro, sold its entire stock portfolio in Q4 2025, moving fully to cash
• Stocks dumped include Nvidia, Tesla, Microsoft, and Apple
• Concerns around Nvidia centre on rising competition from AMD and in-house chip designs by big tech firms
• Apple and Tesla have yet to achieve commercial AI breakthroughs at enterprise scale
• Macro uncertainty, geopolitical tensions, and Fed policy questions appear to have driven the move

Peter Thiel Dumps Nvidia, Tesla, Microsoft, and Apple — Thiel Macro Goes to Cash for 2026

Peter Thiel’s hedge fund, Thiel Macro, has liquidated its entire stock portfolio. The fund sold all remaining positions in Q4 2025, according to SEC filings.

Thiel is a well-known Silicon Valley investor. He co-founded PayPal with Elon Musk, was the first outside investor in Facebook, and helped found Palantir Technologies.

The fund had already been reducing its holdings in Q3. During that quarter, it exited positions in Nvidia (NVDA) and energy company Vistra, while trimming its Tesla (TSLA) stake.

NVIDIA Corporation, NVDA

Also in Q3, Thiel Macro opened new positions in Microsoft (MSFT) and Apple (AAPL). But by the end of Q4, those too were gone.

The fund is now entirely in cash. No stock positions remain on its books heading into 2026.

Competition Clouds Nvidia’s Outlook

One factor likely weighing on Nvidia (NVDA) is rising competition. Alphabet, Microsoft, Amazon, and Meta are all working on custom AI chips developed in-house with help from Broadcom.

Some developers are also pairing their Nvidia GPU clusters with chips from Advanced Micro Devices. That puts pressure on Nvidia’s dominance in the data center market.

Apple (AAPL) and Tesla (TSLA) share a common problem in the AI space. Neither has yet launched a commercial AI product that operates at enterprise scale.

Apple Intelligence is still a work in progress. Tesla’s autonomous vehicles and humanoid robot projects have not yet reached mass commercial deployment.

Both companies also sell premium products. With interest rates still elevated and Federal Reserve policy unclear, consumers may be holding off on new iPhone upgrades or electric vehicle purchases.

Microsoft Faces a Crowded AI Landscape

Microsoft’s (MSFT) AI strategy is heavily tied to its relationship with OpenAI. The generative AI space is becoming more competitive, with multiple large language model developers racing to outperform each other.

Microsoft does not hold exclusivity with any of these AI companies. Competitors like Amazon Web Services and Google Cloud Platform are also in the running for AI infrastructure deals.

Thiel Macro had previously held Vistra, a power generation company. The fund bought in Q1 2025 and exited in Q3, capturing roughly a 42% gain during that period.

Vistra’s stock had risen on expectations that hyperscalers would turn to nuclear power. However, Vistra is not a pure nuclear play, and analysts noted the AI-driven buying may have been overdone.

Macro Uncertainty Adds Pressure

Broader economic factors also appear to have played a role. Geopolitical tensions, unclear Fed policy, and the upcoming U.S. midterm election cycle have all added to market uncertainty.

Thiel Macro’s move to cash reflects a cautious short-term stance. The fund appears to be waiting for more clarity before re-entering the market.

The S&P 500 has historically recovered from periods of uncertainty over the long term. Long-term retail investors typically operate with different goals than short-term hedge funds like Thiel Macro.

As of the latest SEC filing, Thiel Macro holds no publicly disclosed stock positions for 2026.

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