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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
+14.31%
1 Year Est. Return
+17.79%
3 Year Est. Return
+74.29%
5 Year Est. Return
+61.44%
10 Year Est. Return
–
AUM
$998M
AUM Growth
+$29.6M
(+3.1%)
Cap. Flow
-$89.4M
Cap. Flow
% of AUM
-8.95%
Top 10 Holdings %
Top 10 Hldgs %
72.76%
Holding
27
New
2
Increased
11
Reduced
10
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
TSMC
TSM
|
+$22.9M |
| 2 |
Veeva Systems
VEEV
|
+$18.8M |
| 3 |
State Street Health Care Select Sector SPDR ETF
XLV
|
+$6.17M |
| 4 |
Moody's
MCO
|
+$4.41M |
| 5 |
Amazon
AMZN
|
+$3.77M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard S&P 500 ETF
VOO
|
+$75.3M |
| 2 |
iShares Core MSCI EAFE ETF
IEFA
|
+$16.9M |
| 3 |
CRH
CRH
|
+$13.7M |
| 4 |
Gildan
GIL
|
+$10.7M |
| 5 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$10.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 10.72% |
| 2 | Consumer Discretionary | 9.25% |
| 3 | Financials | 7.64% |
| 4 | Industrials | 5.85% |
| 5 | Communication Services | 5.76% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
Gildan
GIL
$10.6B
| – | – |
-241,205
| Closed | -$10.7M |
|
27
Atlassian
TEAM
$37.8B
| – | – |
-45,688
| Closed | -$9.7M |
|
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Makena Capital Management's Q2 2025 Portfolio in Review
As of Q2 2025, Makena Capital Management held 27 positions worth $998M, up 3.1% from $969M the previous quarter. Its ten largest holdings account for 73% of the portfolio.
Makena Capital Management withdrew a net $89.4M in Q2 2025, closing 3 positions and reducing 10 holdings. Its most notable exit was CRH, an estimated $13.7M position sold in full.
By sector, the portfolio is most concentrated in Technology at 11% of assets, up from 7.6% a quarter earlier, followed by Consumer Discretionary and Financials.
Against the trend, Makena Capital Management opened a new position in TSMC worth $28M.
- Makena Capital Management's largest Q2 2025 buy was TSMC: 123,589 shares worth $28M.
- Makena Capital Management added most to State Street Health Care Select Sector SPDR ETF in Q2 2025, an estimated $6.17M increase.
- Makena Capital Management's biggest Q2 2025 reduction was Vanguard S&P 500 ETF, cutting an estimated $75.3M.
- Makena Capital Management fully exited CRH in Q2 2025, selling an estimated $13.7M.
- Makena Capital Management's ten largest holdings make up 73% of its $998M portfolio in Q2 2025.
- Makena Capital Management opened 2 new positions and closed 3 in Q2 2025.
- Makena Capital Management's portfolio value rose 3.1% quarter-over-quarter to $998M.
Based on Makena Capital Management's 13F filing for Q2 2025, filed 13 Aug 2025.