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MCM
Makena Capital Management Portfolio holdings
AUM
$866M
1-Year Est. Return
17.79%
This Fund
S&P 500
This Quarter
Est. Return
+0.09%
1 Year Est. Return
+17.79%
3 Year Est. Return
+74.29%
5 Year Est. Return
+61.44%
10 Year Est. Return
–
AUM
$532M
AUM Growth
-$67.8M
(-11%)
Cap. Flow
-$55.9M
Cap. Flow
% of AUM
-10.5%
Top 10 Holdings %
Top 10 Hldgs %
46.75%
Holding
55
New
10
Increased
12
Reduced
18
Closed
13
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
UDR
UDR
|
+$11.7M |
| 2 |
Sun Communities
SUI
|
+$11M |
| 3 |
Apple Hospitality REIT
APLE
|
+$9.98M |
| 4 |
Welltower
WELL
|
+$9.81M |
| 5 |
Visa
V
|
+$9.77M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Builders FirstSource
BLDR
|
+$21.2M |
| 2 |
LSI
Life Storage, Inc.
LSI
|
+$11.5M |
| 3 |
ABB
ABB Ltd
ABB
|
+$9.96M |
| 4 |
Mercado Libre
MELI
|
+$9.85M |
| 5 |
Expedia Group
EXPE
|
+$9.35M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 36.7% |
| 2 | Real Estate | 30.74% |
| 3 | Industrials | 9.39% |
| 4 | Communication Services | 6.12% |
| 5 | Consumer Discretionary | 4.66% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Healthpeak Properties
DOC
$14.8B
| $9.85M | 1.85% |
393,075
+39,808
| +11% | +$968K |
|
27
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.7B
| $9.83M | 1.85% |
131,853
-33,263
| -20% | -$2.42M |
|
28
SBA Communications
SBAC
$19.5B
| $9.77M | 1.84% |
+34,867
| New | +$9.7M |
|
|
29
Apple Hospitality REIT
APLE
$3.82B
| $9.76M | 1.83% |
+618,406
| New | +$9.98M |
|
30
VICI Properties
VICI
$29.4B
| $9.25M | 1.74% |
285,389
-188,172
| -40% | -$6.05M |
|
31
Moderna
MRNA
$23.6B
| $8.68M | 1.63% |
48,300
-12,384
| -20% | -$2.02M |
|
32
Post Holdings
POST
$3.57B
| $8.59M | 1.61% |
95,140
-28,372
| -23% | -$2.53M |
|
33
Uber
UBER
$153B
| $8.55M | 1.61% |
345,775
-94,469
| -21% | -$2.59M |
|
34
T-Mobile US
TMUS
$190B
| $8.53M | 1.6% |
+60,959
| New | +$8.76M |
|
35
Atlassian
TEAM
$37.8B
| $7.2M | 1.35% |
55,977
+3,932
| +8% | +$626K |
|
36
Hilton Worldwide
HLT
$71.5B
| $6.03M | 1.13% |
+47,698
| New | +$6.29M |
|
37
Meta Platforms (Facebook)
META
$1.51T
| $5.94M | 1.12% |
49,349
-23,989
| -33% | -$2.82M |
|
38
Liberty Broadband Class C
LBRDK
$5.15B
| $5.82M | 1.09% |
76,368
-40,741
| -35% | -$3.31M |
|
39
BellRing Brands
BRBR
$1.34B
| $5.8M | 1.09% |
226,172
-46,052
| -17% | -$1.11M |
|
|
RADI
40
DELISTED
Radius Global Infrastructure, Inc. Class A Common Stock
RADI
| $4.92M | 0.92% |
416,253
+15,768
| +4% | +$163K |
|
41
Cellebrite
CLBT
$3.99B
| $2.83M | 0.53% |
649,554
| – | – |
|
42
Rivian
RIVN
$23.2B
| $2.6M | 0.49% |
+140,854
| New | +$4.15M |
|
43
Applovin
APP
$116B
| – | – |
-271,890
| Closed | -$5.3M |
|
44
AvalonBay Communities
AVB
$26.8B
| – | – |
-47,296
| Closed | -$8.71M |
|
45
CarGurus
CARG
$3.47B
| – | – |
-290,631
| Closed | -$4.12M |
|
46
Camden Property Trust
CPT
$11.3B
| – | – |
-68,706
| Closed | -$8.21M |
|
47
Caesars Entertainment
CZR
$6.14B
| – | – |
-241,236
| Closed | -$7.78M |
|
48
Equity Residential
EQR
$25.1B
| – | – |
-127,538
| Closed | -$8.57M |
|
|
49
Expedia Group
EXPE
$37.3B
| – | – |
-99,795
| Closed | -$9.35M |
|
50
Highwoods Properties
HIW
$3.47B
| – | – |
-269,916
| Closed | -$7.28M |
|
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Makena Capital Management's Q4 2022 Portfolio in Review
As of Q4 2022, Makena Capital Management held 55 positions worth $532M, down 11% from $600M the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Makena Capital Management withdrew a net $55.9M in Q4 2022, closing 13 positions and reducing 18 holdings. Its most notable exit was Life Storage, Inc., an estimated $11.5M position sold in full.
By sector, the portfolio is most concentrated in Technology at 37% of assets, down from 39% a quarter earlier, followed by Real Estate and Industrials.
Against the trend, Makena Capital Management opened a new position in UDR worth $11.5M.
- Makena Capital Management's largest Q4 2022 buy was UDR: 296,465 shares worth $11.5M.
- Makena Capital Management added most to Amazon in Q4 2022, an estimated $6.21M increase.
- Makena Capital Management's biggest Q4 2022 reduction was Builders FirstSource, cutting an estimated $21.2M.
- Makena Capital Management fully exited Life Storage, Inc. in Q4 2022, selling an estimated $11.5M.
- Makena Capital Management's ten largest holdings make up 47% of its $532M portfolio in Q4 2022.
- Makena Capital Management opened 10 new positions and closed 13 in Q4 2022.
- Makena Capital Management's portfolio value fell 11% quarter-over-quarter to $532M.
Based on Makena Capital Management's 13F filing for Q4 2022, filed 13 Feb 2023.