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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
+1.18%
1 Year Est. Return
+17.79%
3 Year Est. Return
+74.29%
5 Year Est. Return
+61.44%
10 Year Est. Return
–
AUM
$834M
AUM Growth
-$134M
Cap. Flow
-$140M
Cap. Flow %
-16.81%
Top 10 Hldgs %
69.25%
Holding
27
New
3
Increased
6
Reduced
16
Closed
1

Top Buys

Rank Stock Value
1
CRH icon
CRH
CRH
+$15.8M
2
FSLR icon
First Solar
FSLR
+$11M
3
VEEV icon
Veeva Systems
VEEV
+$7.04M
4
PCOR icon
Procore
PCOR
+$4.4M
5
CPNG icon
Coupang
CPNG
+$2.83M

Top Sells

Rank Stock Value
1
VOO icon
Vanguard S&P 500 ETF
VOO
+$67M
2
IEFA icon
iShares Core MSCI EAFE ETF
IEFA
+$20.6M
3
MCO icon
Moody's
MCO
+$13.7M
4
FLUT icon
Flutter Entertainment
FLUT
+$11.5M
5
SGI
Somnigroup International
SGI
+$11M

Sector Composition

Rank Sector Weight
1 Technology 14.01%
2 Consumer Discretionary 8.37%
3 Financials 7.78%
4 Industrials 7.68%
5 Communication Services 4.73%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FIG
26
Figma
FIG
$12.4B
$1.05M 0.13%
+28,113
New +$1.27M
FLUT icon
27
Flutter Entertainment
FLUT
$16.4B
– –
-45,344
Closed -$11.5M
1
2

Similar funds

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 2025 Portfolio in Review

As of Q4 2025, Makena Capital Management held 27 positions worth $834M, down 14% from $968M the previous quarter. Its ten largest holdings account for 69% of the portfolio.

Makena Capital Management withdrew a net $140M in Q4 2025, closing 1 position and reducing 16 holdings. Its most notable exit was Flutter Entertainment, an estimated $11.5M position sold in full.

By sector, the portfolio is most concentrated in Technology at 14% of assets, up from 11% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Makena Capital Management opened a new position in CRH worth $16.5M.

  • Makena Capital Management's largest Q4 2025 buy was CRH: 132,428 shares worth $16.5M.
  • Makena Capital Management added most to Veeva Systems in Q4 2025, an estimated $7.04M increase.
  • Makena Capital Management's biggest Q4 2025 reduction was Vanguard S&P 500 ETF, cutting an estimated $67M.
  • Makena Capital Management fully exited Flutter Entertainment in Q4 2025, selling an estimated $11.5M.
  • Makena Capital Management's ten largest holdings make up 69% of its $834M portfolio in Q4 2025.
  • Makena Capital Management opened 3 new positions and closed 1 in Q4 2025.
  • Makena Capital Management's portfolio value fell 14% quarter-over-quarter to $834M.

Based on Makena Capital Management's 13F filing for Q4 2025, filed 3 Feb 2026.