Peter Thiel Q3 major portfolio adjustment: sold Nvidia and TSL, took the opposite position to buy Microsoft and Apple.

2025-12-01 16:54:47

Peter Thiel, the legendary venture capitalist, has recently sparked discussions with his investment moves. The co-founder of PayPal and Palantir, and an early investor in Meta, made an intriguing move in Q3: he liquidated his position in Nvidia, significantly reduced his stake in TSL, and opted to buy Microsoft and Apple.

The data shows that he is accumulating cash.

According to financial report data:

Sold approximately 208,000 shares of TSL (average price in Q3 $347), cashing out about $72 million
Sell approximately 538,000 shares of NVIDIA (Q3 average price $174), cashing out about $94 million.
Added 49,000 shares of Microsoft (costing approximately $2.5 billion)
Added 79,000 shares of Apple (costing approximately $1.8 billion)

Compare this: the money from selling is simply not enough to buy these two new positions. This indicates that Tai'er is hoarding cash in large amounts, possibly preparing for the next big move - either investing in AI/quantum computing startups or cooling down market risks.

The essence of this transaction is to reduce portfolio risk: shifting from high-growth, high-volatility tech stocks (TSL, Nvidia) to relatively defensive blue chips (Microsoft, Apple).

But there's a bit of a problem with this step: why sell Nvidia to buy Apple?

Microsoft replacing TSL? That's understandable. But selling NVIDIA to buy Apple? This operation is indeed questionable.

Look at the data:

Apple's revenue growth rate: less than 10%, continuing years of sluggishness
NVIDIA Revenue Growth: Explosive growth, the wave of investment in data centers has just begun.

Based on the expected earnings for next year, the valuations of the two stocks are almost the same. However, the growth rates are not on the same level at all. From this perspective, Nvidia seems to be a better long-term holding.

Of course, Tyler's investment record is indeed more legendary than most people. This also illustrates one thing: the market exists because of differences in information and judgment. Some are optimistic about Nvidia's growth potential, while others are bearish on its valuation risk—both viewpoints have their merits.

The key is to do your own homework and not blindly follow anyone.

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