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MCM

Makena Capital Management Portfolio holdings

AUM $952M
1-Year Est. Return 13.93%
This Fund
S&P 500
This Quarter Est. Return
+1.33%
1 Year Est. Return
+13.93%
3 Year Est. Return
+78.75%
5 Year Est. Return
+64.32%
10 Year Est. Return
–
AUM
$616M
AUM Growth
+$200M
Cap. Flow
+$202M
Cap. Flow %
32.74%
Top 10 Hldgs %
56.1%
Holding
46
New
7
Increased
14
Reduced
18
Closed
5

Top Buys

Rank Stock Value
1
VOO icon
Vanguard S&P 500 ETF
VOO
+$154M
2
IEFA icon
iShares Core MSCI EAFE ETF
IEFA
+$50M
3
IEMG icon
iShares Core MSCI Emerging Markets ETF
IEMG
+$21.9M
4
SHO icon
Sunstone Hotel Investors
SHO
+$7.12M
5
TEAM icon
Atlassian
TEAM
+$7.04M

Top Sells

Rank Stock Value
1
EGP icon
EastGroup Properties
EGP
+$9.19M
2
INVH icon
Invitation Homes
INVH
+$8.84M
3
MELI icon
Mercado Libre
MELI
+$8.43M
4
TOST icon
Toast
TOST
+$7.77M
5
PCOR icon
Procore
PCOR
+$6.89M

Sector Composition

Rank Sector Weight
1 Miscellaneous 39.42%
2 Real Estate 20.06%
3 Consumer Discretionary 9.07%
4 Technology 8.45%
5 Communication Services 7.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DLR icon
26
Digital Realty Trust
DLR
$66.3B
$8.58M 1.39%
48,385
-6,028
-11% -$1.07M
IRT icon
27
Independence Realty Trust
IRT
$3.45B
$8.52M 1.38%
429,633
-92,687
-18% -$1.89M
CPT icon
28
Camden Property Trust
CPT
$11.4B
$8.34M 1.35%
71,909
-15,469
-18% -$1.85M
VMRK
29
Vivmark Residential
VMRK
$47.6B
$8.28M 1.34%
115,389
-24,749
-18% -$1.82M
IVT icon
30
InvenTrust Properties
IVT
$2.38B
$7.99M 1.3%
265,212
-70,416
-21% -$2.12M
SHO icon
31
Sunstone Hotel Investors
SHO
$2.08B
$7.73M 1.25%
+653,260
New +$7.12M
GIL icon
32
Gildan
GIL
$7.59B
$7.71M 1.25%
163,841
-43,792
-21% -$2.11M
TEAM icon
33
Atlassian
TEAM
$47.5B
$7.48M 1.21%
+30,729
New +$7.04M
VTR icon
34
Ventas
VTR
$44.4B
$7.28M 1.18%
123,542
-13,904
-10% -$874K
AMH icon
35
American Homes 4 Rent
AMH
$11B
$7.04M 1.14%
188,057
-57,324
-23% -$2.15M
AMT icon
36
American Tower
AMT
$78.8B
$6.83M 1.11%
37,222
-1,583
-4% -$328K
HST icon
37
Host Hotels & Resorts
HST
$15.4B
$6.7M 1.09%
+382,565
New +$6.87M
XLP icon
38
State Street Consumer Staples Select Sector SPDR ETF
XLP
$13.9B
$6.12M 0.99%
77,862
+13,002
+20% +$1.06M
COLD icon
39
Americold
COLD
$4.21B
$5.94M 0.96%
277,747
-43,179
-13% -$1.04M
SNDA icon
40
Sonida Senior Living
SNDA
$1.81B
$4.27M 0.69%
185,000
– –
RBRK icon
41
Rubrik
RBRK
$22.7B
$1.19M 0.19%
+18,253
New +$902K
EGP icon
42
EastGroup Properties
EGP
$10.8B
– –
-49,200
Closed -$9.19M
INVH icon
43
Invitation Homes
INVH
$15.7B
– –
-250,614
Closed -$8.84M
MELI icon
44
Mercado Libre
MELI
$88.9B
– –
-4,107
Closed -$8.43M
PM icon
45
Philip Morris
PM
$297B
– –
-42,422
Closed -$5.15M
TOST icon
46
Toast
TOST
$17.7B
– –
-274,392
Closed -$7.77M
1
2

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EW
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CL
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AWP
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LRPA
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NOCM
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CA
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VFG
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GAM
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Makena Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, Makena Capital Management held 46 positions worth $616M, up 48% from $416M the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Makena Capital Management deployed $202M of net new capital in Q4 2024, opening 7 new positions and adding to 14 existing holdings. Its largest new stake was Vanguard S&P 500 ETF: 284,856 shares worth $153M.

By sector, the portfolio is most concentrated in Miscellaneous at 39% of assets, up from 4.1% a quarter earlier, followed by Real Estate and Consumer Discretionary.

On the sell side, the largest reduction was Procore, an estimated $6.89M trimmed.

  • Makena Capital Management's largest Q4 2024 buy was Vanguard S&P 500 ETF: 284,856 shares worth $153M.
  • Makena Capital Management added most to Sherwin-Williams in Q4 2024, an estimated $5.39M increase.
  • Makena Capital Management's biggest Q4 2024 reduction was Procore, cutting an estimated $6.89M.
  • Makena Capital Management fully exited EastGroup Properties in Q4 2024, selling an estimated $9.19M.
  • Makena Capital Management's ten largest holdings make up 56% of its $616M portfolio in Q4 2024.
  • Makena Capital Management opened 7 new positions and closed 5 in Q4 2024.
  • Makena Capital Management's portfolio value rose 48% quarter-over-quarter to $616M.

Based on Makena Capital Management's 13F filing for Q4 2024, filed 12 Feb 2025.