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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
+16.94%
1 Year Est. Return
+17.79%
3 Year Est. Return
+74.29%
5 Year Est. Return
+61.44%
10 Year Est. Return
–
AUM
$180M
AUM Growth
+$9.6M
Cap. Flow
-$12M
Cap. Flow %
-6.68%
Top 10 Hldgs %
33.83%
Holding
75
New
12
Increased
13
Reduced
6
Closed
26

Top Buys

Rank Stock Value
1
LBRDK icon
Liberty Broadband Class C
LBRDK
+$3.98M
2
TMUS icon
T-Mobile US
TMUS
+$3.74M
3
IAA
IAA, Inc. Common Stock
IAA
+$3.6M
4
LPRO
Open Lending Corp
LPRO
+$3.5M
5
XLP icon
State Street Consumer Staples Select Sector SPDR ETF
XLP
+$2.08M

Top Sells

Rank Stock Value
1
GLIBA
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
+$4.63M
2
IVV icon
iShares Core S&P 500 ETF
IVV
+$4.53M
3
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$3.73M
4
VSAT icon
Viasat
VSAT
+$3.24M
5
KMI icon
Kinder Morgan
KMI
+$3.15M

Sector Composition

Rank Sector Weight
1 Technology 27.87%
2 Real Estate 20.72%
3 Communication Services 16.23%
4 Consumer Discretionary 10.47%
5 Financials 7.94%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ACWI icon
1
iShares MSCI ACWI ETF
ACWI
$33.4B
$8.53M 4.73%
93,971
– –
VRNS icon
2
Varonis Systems
VRNS
$5B
$6.42M 3.57%
117,813
+9,087
+8% +$394K
ZEN
3
DELISTED
ZENDESK INC
ZEN
$6.39M 3.55%
44,650
+3,791
+9% +$470K
GOOGL icon
4
Alphabet (Google) Class A
GOOGL
$4.33T
$6.11M 3.39%
69,720
+19,320
+38% +$1.63M
HLT icon
5
Hilton Worldwide
HLT
$71.5B
$5.89M 3.27%
52,912
+5,936
+13% +$588K
UNH icon
6
UnitedHealth
UNH
$370B
$5.79M 3.21%
16,504
+4,291
+35% +$1.44M
META icon
7
Meta Platforms (Facebook)
META
$1.51T
$5.61M 3.11%
20,519
+2,967
+17% +$813K
TWLO icon
8
Twilio
TWLO
$36.6B
$5.45M 3.03%
16,108
-2,022
-11% -$632K
PEGA icon
9
Pegasystems
PEGA
$5.38B
$5.4M 3%
81,004
+11,794
+17% +$752K
SCHW
10
Charles Schwab
SCHW
$187B
$5.32M 2.96%
100,376
-12,485
-11% -$565K
POST icon
11
Post Holdings
POST
$3.57B
$5.3M 2.94%
80,118
+12,348
+18% +$763K
UBER icon
12
Uber
UBER
$153B
$5.21M 2.89%
102,080
-54
-0.1% -$2.42K
FIS icon
13
Fidelity National Information Services
FIS
$22.1B
$5M 2.78%
35,322
+6,274
+22% +$895K
MSFT icon
14
Microsoft
MSFT
$3.71T
$4.83M 2.69%
21,736
+1,753
+9% +$377K
AMZN icon
15
Amazon
AMZN
$2.96T
$4.51M 2.5%
27,680
-420
-1% -$67K
MAA icon
16
Mid-America Apartment Communities
MAA
$15.7B
$4.43M 2.46%
34,974
– –
BPMC
17
DELISTED
Blueprint Medicines
BPMC
$4.37M 2.42%
38,924
– –
LPRO
18
DELISTED
Open Lending Corp
LPRO
$4.21M 2.34%
+120,392
New +$3.5M
LBRDK icon
19
Liberty Broadband Class C
LBRDK
$5.15B
$4.15M 2.3%
+26,188
New +$3.98M
NFLX icon
20
Netflix
NFLX
$309B
$4.14M 2.3%
76,500
– –
LSXMA
21
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
$4.09M 2.27%
128,854
– –
TMUS icon
22
T-Mobile US
TMUS
$190B
$4.09M 2.27%
+30,308
New +$3.74M
CRM icon
23
Salesforce
CRM
$158B
$3.92M 2.18%
17,603
+4,001
+29% +$973K
IAA
24
DELISTED
IAA, Inc. Common Stock
IAA
$3.91M 2.17%
+60,215
New +$3.6M
ACGL icon
25
Arch Capital
ACGL
$33.6B
$3.91M 2.17%
108,397
-25,514
-19% -$837K
1
2 3

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EI
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OMG
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RWM
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HP
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WFAL
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WCM
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TSS
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F1I
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Makena Capital Management's Q4 2020 Portfolio in Review

As of Q4 2020, Makena Capital Management held 75 positions worth $180M, up 5.6% from $170M the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Makena Capital Management withdrew a net $12M in Q4 2020, closing 26 positions and reducing 6 holdings. Its most notable exit was GCI Liberty, Inc. Class A Common Stock (DE), an estimated $4.63M position sold in full.

By sector, the portfolio is most concentrated in Technology at 28% of assets, up from 23% a quarter earlier, followed by Real Estate and Communication Services.

Against the trend, Makena Capital Management opened a new position in Liberty Broadband Class C worth $4.15M.

  • Makena Capital Management's largest Q4 2020 buy was Liberty Broadband Class C: 26,188 shares worth $4.15M.
  • Makena Capital Management added most to Alphabet (Google) Class A in Q4 2020, an estimated $1.63M increase.
  • Makena Capital Management's biggest Q4 2020 reduction was Arch Capital, cutting an estimated $837K.
  • Makena Capital Management fully exited GCI Liberty, Inc. Class A Common Stock (DE) in Q4 2020, selling an estimated $4.63M.
  • Makena Capital Management's ten largest holdings make up 34% of its $180M portfolio in Q4 2020.
  • Makena Capital Management opened 12 new positions and closed 26 in Q4 2020.
  • Makena Capital Management's portfolio value rose 5.6% quarter-over-quarter to $180M.

Based on Makena Capital Management's 13F filing for Q4 2020, filed 12 Feb 2021.