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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
-1.18%
1 Year Est. Return
+13.93%
3 Year Est. Return
+78.75%
5 Year Est. Return
+64.32%
10 Year Est. Return
–
AUM
$969M
AUM Growth
+$352M
(+57%)
Cap. Flow
+$381M
Cap. Flow
% of AUM
39.31%
Top 10 Holdings %
Top 10 Hldgs %
76.7%
Holding
42
New
1
Increased
23
Reduced
–
Closed
17
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard S&P 500 ETF
VOO
|
+$251M |
| 2 |
iShares Core MSCI EAFE ETF
IEFA
|
+$64.2M |
| 3 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$30.7M |
| 4 |
Microsoft
MSFT
|
+$13.7M |
| 5 |
MasTec
MTZ
|
+$13.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Equinix
EQIX
|
+$12.8M |
| 2 |
Meta Platforms (Facebook)
META
|
+$9.9M |
| 3 |
Brixmor Property Group
BRX
|
+$9.86M |
| 4 |
Welltower
WELL
|
+$9.07M |
| 5 |
Prologis
PLD
|
+$8.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 60.86% |
| 2 | Consumer Discretionary | 8.65% |
| 3 | Technology | 7.59% |
| 4 | Financials | 6.58% |
| 5 | Communication Services | 5.94% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
American Homes 4 Rent
AMH
$11B
| – | – |
-188,057
| Closed | -$7.04M |
|
27
American Tower
AMT
$78.8B
| – | – |
-37,222
| Closed | -$6.83M |
|
|
28
Brixmor Property Group
BRX
$8.61B
| – | – |
-354,192
| Closed | -$9.86M |
|
29
Americold
COLD
$4.21B
| – | – |
-277,747
| Closed | -$5.94M |
|
30
Camden Property Trust
CPT
$11.4B
| – | – |
-71,909
| Closed | -$8.34M |
|
31
Digital Realty Trust
DLR
$66.3B
| – | – |
-48,385
| Closed | -$8.58M |
|
|
32
Equinix
EQIX
$99.5B
| – | – |
-13,581
| Closed | -$12.8M |
|
|
VMRK
33
Vivmark Residential
VMRK
$47.6B
| – | – |
-115,389
| Closed | -$8.28M |
|
34
Host Hotels & Resorts
HST
$15.4B
| – | – |
-382,565
| Closed | -$6.7M |
|
35
Independence Realty Trust
IRT
$3.45B
| – | – |
-429,633
| Closed | -$8.52M |
|
36
InvenTrust Properties
IVT
$2.38B
| – | – |
-265,212
| Closed | -$7.99M |
|
|
37
Meta Platforms (Facebook)
META
$1.91T
| – | – |
-16,916
| Closed | -$9.9M |
|
|
38
Prologis
PLD
$126B
| – | – |
-82,298
| Closed | -$8.7M |
|
39
Sunstone Hotel Investors
SHO
$2.08B
| – | – |
-653,260
| Closed | -$7.73M |
|
40
Ventas
VTR
$44.4B
| – | – |
-123,542
| Closed | -$7.28M |
|
|
41
Welltower
WELL
$167B
| – | – |
-71,958
| Closed | -$9.07M |
|
42
Rubrik
RBRK
$22.7B
| – | – |
-18,253
| Closed | -$1.19M |
|
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Makena Capital Management's Q1 2025 Portfolio in Review
As of Q1 2025, Makena Capital Management held 42 positions worth $969M, up 57% from $616M the previous quarter. Its ten largest holdings account for 77% of the portfolio.
Makena Capital Management deployed $381M of net new capital in Q1 2025, opening 1 new position and adding to 23 existing holdings. Its largest new stake was Liberty Media Corporation Series C Common Stock: 135,051 shares worth $12.2M.
By sector, the portfolio is most concentrated in Miscellaneous at 61% of assets, up from 39% a quarter earlier, followed by Consumer Discretionary and Technology.
On the sell side, the most notable exit was Equinix, an estimated $12.8M sold.
- Makena Capital Management's largest Q1 2025 buy was Liberty Media Corporation Series C Common Stock: 135,051 shares worth $12.2M.
- Makena Capital Management added most to Vanguard S&P 500 ETF in Q1 2025, an estimated $251M increase.
- Makena Capital Management fully exited Equinix in Q1 2025, selling an estimated $12.8M.
- Makena Capital Management's ten largest holdings make up 77% of its $969M portfolio in Q1 2025.
- Makena Capital Management opened 1 new position and closed 17 in Q1 2025.
- Makena Capital Management's portfolio value rose 57% quarter-over-quarter to $969M.
Based on Makena Capital Management's 13F filing for Q1 2025, filed 13 May 2025.