SPDR S&P 500 ETF TR

Ticker: SPY CUSIP: 78462F103 Class: TR UNIT

Thiel Macro LLC's Holding History (CIK: 0001562087)

Note: Option positions (PUT/CALL) are excluded.

Q2 2015
Shares 59,050 Value ($000) $12,155 Avg Close — Range —
Q4 2014
Shares 322,250 Value ($000) $66,235 Avg Close — Range —