What stake did Peter Thiel's hedge fund acquire in Vista Energy, and how significant is it in the fund's portfolio?

Thiel Macro LLC reported owning nearly 1.2 million shares in Vista Energy SAB at the end of the second quarter, valued at approximately $76 million as of June 30; this position is the fund’s second-largest holding—behind only Amazon.com Inc.—and Vista is the sole non-U.S. company listed in its disclosed holdings.

Why is Thiel’s investment in Vista Energy notable beyond financial exposure?

Thiel’s stake coincides with his personal engagement in Argentina, including purchasing a mansion in Buenos Aires, visiting a local chess club, and meeting with libertarian President Javier Milei to discuss the sustainability of free-market reforms and wealth taxes—suggesting potential strategic interest in the country’s economic transformation, particularly around the Vaca Muerta shale basin where Vista, founded by Miguel Galuccio, has become Argentina’s top oil exporter with ~160,000 barrels per day of output, 70% exported.

Peter Thiel Reports Stake in Argentine Shale Oil Exporter Vista

Aug 15, 2026

Peter Thiel’s hedge fund acquired a significant stake in Vista Energy, Argentina’s top shale oil exporter, holding nearly 1.2 million shares worth $76 million. The deal highlights growing international interest in Argentina’s Vaca Muerta basin amid economic reforms.

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