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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
+15.27%
1 Year Est. Return
+17.79%
3 Year Est. Return
+74.29%
5 Year Est. Return
+61.44%
10 Year Est. Return
–
AUM
$442M
AUM Growth
-$25.6M
Cap. Flow
-$79.3M
Cap. Flow %
-17.96%
Top 10 Hldgs %
39.2%
Holding
56
New
16
Increased
6
Reduced
19
Closed
15

Top Buys

Rank Stock Value
1
HUM icon
Humana
HUM
+$18.4M
2
META icon
Meta Platforms (Facebook)
META
+$14.1M
3
USFD icon
US Foods
USFD
+$12.3M
4
CRM icon
Salesforce
CRM
+$11.7M
5
CRH icon
CRH
CRH
+$10.5M

Top Sells

Rank Stock Value
1
CLBT icon
Cellebrite
CLBT
+$24.1M
2
SNOW icon
Snowflake
SNOW
+$23.4M
3
UNH icon
UnitedHealth
UNH
+$17.5M
4
SCHW
Charles Schwab
SCHW
+$14.4M
5
ALIT icon
Alight
ALIT
+$12.6M

Sector Composition

Rank Sector Weight
1 Real Estate 31.39%
2 Technology 22.44%
3 Consumer Discretionary 12.65%
4 Financials 7.01%
5 Communication Services 6.59%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WMT icon
26
Walmart Inc
WMT
$890B
$8.68M 1.97%
165,171
-62,034
-27% -$3.28M
WELL icon
27
Welltower
WELL
$171B
$8.31M 1.88%
92,182
-43,627
-32% -$3.79M
EXR icon
28
Extra Space Storage
EXR
$31.6B
$8.01M 1.81%
+49,980
New +$6.36M
PSA icon
29
Public Storage
PSA
$61.3B
$7.88M 1.79%
+25,841
New +$6.86M
TRNO icon
30
Terreno Realty
TRNO
$7.49B
$7.49M 1.7%
119,568
-2,630
-2% -$150K
REXR icon
31
Rexford Industrial Realty
REXR
$8.19B
$7.44M 1.69%
+132,677
New +$6.5M
MAA icon
32
Mid-America Apartment Communities
MAA
$15.7B
$7.21M 1.63%
+53,638
New +$6.82M
INVH icon
33
Invitation Homes
INVH
$18B
$7.11M 1.61%
208,466
-101,908
-33% -$3.32M
BRX icon
34
Brixmor Property Group
BRX
$9.32B
$7.08M 1.6%
+304,042
New +$6.55M
SPGI icon
35
S&P Global
SPGI
$120B
$6.96M 1.58%
+15,807
New +$6.24M
AMH icon
36
American Homes 4 Rent
AMH
$12.5B
$6.93M 1.57%
192,617
-106,061
-36% -$3.7M
MCO icon
37
Moody's
MCO
$82.7B
$6.9M 1.56%
+17,663
New +$6.14M
GMS
38
DELISTED
GMS Inc
GMS
$6.83M 1.55%
82,826
-17,254
-17% -$1.16M
IVT icon
39
InvenTrust Properties
IVT
$2.59B
$6.43M 1.46%
+253,650
New +$6.32M
SPY icon
40
State Street SPDR S&P 500 ETF Trust
SPY
$810B
$297K 0.07%
+625
New +$278K
SITC icon
41
SITE Centers
SITC
$165M
$273K 0.06%
25,635
-770,464
-97% -$7.68M
ALIT icon
42
Alight
ALIT
$407M
– –
-88,991
Closed -$12.6M
CLBT icon
43
Cellebrite
CLBT
$3.99B
– –
-3,149,554
Closed -$24.1M
COLD icon
44
Americold
COLD
$4.27B
– –
-338,026
Closed -$10.3M
HIW icon
45
Highwoods Properties
HIW
$3.47B
– –
-292,970
Closed -$6.04M
JAMF
46
DELISTED
Jamf
JAMF
– –
-410,314
Closed -$7.25M
LBRDK icon
47
Liberty Broadband Class C
LBRDK
$5.15B
– –
-76,639
Closed -$7M
POST icon
48
Post Holdings
POST
$3.57B
– –
-132,019
Closed -$11.3M
RIVN icon
49
Rivian
RIVN
$23.2B
– –
-140,854
Closed -$3.42M
SCHW
50
Charles Schwab
SCHW
$187B
– –
-263,086
Closed -$14.4M
1
2
3

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EI
EAM Investors Solana Beach, California $866M AUM 377.14% 1-Year Est. Return
OMG
One Madison Group New York $866M AUM 33.81% 1-Year Est. Return
RWM
RMG Wealth Management Platteville, Wisconsin $866M AUM 11.95% 1-Year Est. Return
HP
Havemeyer Place Greenwich, Connecticut $867M AUM
WFAL
Wedbush Fund Advisers, LLC Pasadena, California $863M AUM
WCM
Wallace Capital Management Dallas, Texas $871M AUM 13.69% 1-Year Est. Return
TSS
Two Sigma Securities New York $861M AUM 21.33% 1-Year Est. Return
F1I
Fund 1 Investments Rincon, Puerto Rico $872M AUM 50.95% 1-Year Est. Return

Makena Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Makena Capital Management held 56 positions worth $442M, down 5.5% from $467M the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Makena Capital Management withdrew a net $79.3M in Q4 2023, closing 15 positions and reducing 19 holdings. Its most notable exit was Cellebrite, an estimated $24.1M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 31% of assets, up from 26% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, Makena Capital Management opened a new position in Humana worth $17.1M.

  • Makena Capital Management's largest Q4 2023 buy was Humana: 37,317 shares worth $17.1M.
  • Makena Capital Management added most to Boston Properties in Q4 2023, an estimated $4.01M increase.
  • Makena Capital Management's biggest Q4 2023 reduction was Datadog, cutting an estimated $8.33M.
  • Makena Capital Management fully exited Cellebrite in Q4 2023, selling an estimated $24.1M.
  • Makena Capital Management's ten largest holdings make up 39% of its $442M portfolio in Q4 2023.
  • Makena Capital Management opened 16 new positions and closed 15 in Q4 2023.
  • Makena Capital Management's portfolio value fell 5.5% quarter-over-quarter to $442M.

Based on Makena Capital Management's 13F filing for Q4 2023, filed 12 Feb 2024.