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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
(-5.5%)
Cap. Flow
-$79.3M
Cap. Flow
% of AUM
-17.96%
Top 10 Holdings %
Top 10 Hldgs %
39.2%
Holding
56
New
16
Increased
6
Reduced
19
Closed
15
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Humana
HUM
|
+$18.4M |
| 2 |
Meta Platforms (Facebook)
META
|
+$14.1M |
| 3 |
US Foods
USFD
|
+$12.3M |
| 4 |
Salesforce
CRM
|
+$11.7M |
| 5 |
CRH
CRH
|
+$10.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cellebrite
CLBT
|
+$24.1M |
| 2 |
Snowflake
SNOW
|
+$23.4M |
| 3 |
UnitedHealth
UNH
|
+$17.5M |
| 4 |
SCHW
Charles Schwab
SCHW
|
+$14.4M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
|
51
Snowflake
SNOW
$115B
| – | – |
-153,028
| Closed | -$23.4M |
|
52
Sun Communities
SUI
$14.7B
| – | – |
-80,742
| Closed | -$9.56M |
|
53
Uber
UBER
$153B
| – | – |
-232,736
| Closed | -$10.7M |
|
|
54
UnitedHealth
UNH
$370B
| – | – |
-34,788
| Closed | -$17.5M |
|
55
VICI Properties
VICI
$29.4B
| – | – |
-227,594
| Closed | -$6.62M |
|
56
Workday
WDAY
$44.4B
| – | – |
-57,956
| Closed | -$12.5M |
|
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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.