Thiel Macro Bets Big on Amazon Amid Strong Earnings

Peter Thiel's Thiel Macro hedge fund has been out of investing in stocks for a while, but its Q2 filing revealed a massive $418.7 million portfolio with a significant swing.

The biggest position in this portfolio is Amazon (AMZN), which Thiel Macro scooped up nearly $118 million worth of during the second quarter, making it 28% of its holdings.

This investment comes after Amazon reported earnings that showed AWS sales surged 37%, with operating income rising to $16.6 billion and a backlog shot to $496 billion from $364 billion in the previous quarter.

Thiel's admiration for Amazon's business model dates back years, as seen in his book Zero to One, where he wrote that 'Amazon shows how it can be done'.