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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
+5.22%
1 Year Est. Return
+17.79%
3 Year Est. Return
+74.29%
5 Year Est. Return
+61.44%
10 Year Est. Return
–
AUM
$592M
AUM Growth
-$84.8M
(-13%)
Cap. Flow
-$137M
Cap. Flow
% of AUM
-23.22%
Top 10 Holdings %
Top 10 Hldgs %
43.45%
Holding
46
New
4
Increased
31
Reduced
6
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Builders FirstSource
BLDR
|
+$48.7M |
| 2 |
T-Mobile US
TMUS
|
+$13.2M |
| 3 |
ABB
ABB Ltd
ABB
|
+$12.4M |
| 4 |
SMAR
Smartsheet Inc.
SMAR
|
+$12.1M |
| 5 |
Amazon
AMZN
|
+$9.12M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Snowflake
SNOW
|
+$273M |
| 2 |
Pegasystems
PEGA
|
+$15.9M |
| 3 |
ZEN
ZENDESK INC
ZEN
|
+$14.2M |
| 4 |
Hilton Worldwide
HLT
|
+$4.13M |
| 5 |
Datadog
DDOG
|
+$3.75M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 37.12% |
| 2 | Real Estate | 19.86% |
| 3 | Industrials | 11.18% |
| 4 | Communication Services | 10.99% |
| 5 | Consumer Discretionary | 9.2% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Builders FirstSource
BLDR
$8.04B
| $66.2M | 11.18% |
1,279,021
+996,273
| +352% | +$48.7M |
|
|
2
Snowflake
SNOW
$115B
| $49.2M | 8.31% |
162,634
-961,206
| -86% | -$273M |
|
3
Palo Alto Networks
PANW
$297B
| $19.5M | 3.29% |
243,858
| – | – |
|
4
Dynatrace
DT
$14.2B
| $18.6M | 3.15% |
262,570
-9,231
| -3% | -$605K |
|
5
Alphabet (Google) Class A
GOOGL
$4.33T
| $18.5M | 3.12% |
138,220
+11,100
| +9% | +$1.51M |
|
6
Charter Communications
CHTR
$18.2B
| $17.5M | 2.95% |
24,042
+2,805
| +13% | +$2.13M |
|
7
Twilio
TWLO
$36.6B
| $17.5M | 2.95% |
54,725
+16,315
| +42% | +$5.94M |
|
8
Post Holdings
POST
$3.57B
| $17M | 2.88% |
236,116
+46,629
| +25% | +$3.31M |
|
9
Meta Platforms (Facebook)
META
$1.51T
| $17M | 2.87% |
50,055
+5,082
| +11% | +$1.83M |
|
10
GoDaddy
GDDY
$11.5B
| $16.3M | 2.76% |
234,447
+65,920
| +39% | +$5.1M |
|
11
UnitedHealth
UNH
$370B
| $16.3M | 2.75% |
41,707
+6,332
| +18% | +$2.62M |
|
12
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.7B
| $16M | 2.7% |
232,506
-16,975
| -7% | -$1.21M |
|
13
Microsoft
MSFT
$3.71T
| $15.8M | 2.66% |
55,934
+14,180
| +34% | +$4.13M |
|
|
14
Amazon
AMZN
$2.96T
| $15.6M | 2.64% |
95,180
+52,860
| +125% | +$9.12M |
|
15
Uber
UBER
$153B
| $14.6M | 2.47% |
326,064
+140,351
| +76% | +$6.13M |
|
16
Ericsson
ERIC
$33.3B
| $12.8M | 2.17% |
1,146,963
+149,447
| +15% | +$1.77M |
|
17
Mercado Libre
MELI
$92.3B
| $12.7M | 2.15% |
7,576
+907
| +14% | +$1.57M |
|
|
18
Datadog
DDOG
$84B
| $12.7M | 2.14% |
89,692
-29,714
| -25% | -$3.75M |
|
|
19
T-Mobile US
TMUS
$190B
| $12.1M | 2.04% |
+94,751
| New | +$13.2M |
|
20
Equity Lifestyle Properties
ELS
$12.6B
| $12.1M | 2.04% |
154,610
+51,137
| +49% | +$4.19M |
|
|
XYZ
21
Block Inc
XYZ
$47.5B
| $11.5M | 1.95% |
48,143
+4,855
| +11% | +$1.25M |
|
|
ABB
22
DELISTED
ABB Ltd
ABB
| $11.5M | 1.95% |
+342,679
| New | +$12.4M |
|
23
First Industrial Realty Trust
FR
$8.44B
| $11.5M | 1.94% |
220,850
+89,749
| +68% | +$4.88M |
|
|
SMAR
24
DELISTED
Smartsheet Inc.
SMAR
| $11.3M | 1.91% |
+164,116
| New | +$12.1M |
|
|
MGP
25
DELISTED
MGM Growth Properties LLC Class A common shares representing limited liability company interests
MGP
| $11M | 1.86% |
287,302
+100,008
| +53% | +$3.92M |
|
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Makena Capital Management's Q3 2021 Portfolio in Review
As of Q3 2021, Makena Capital Management held 46 positions worth $592M, down 13% from $677M the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Makena Capital Management withdrew a net $137M in Q3 2021, closing 3 positions and reducing 6 holdings. Its most notable exit was Pegasystems, an estimated $15.9M position sold in full.
By sector, the portfolio is most concentrated in Technology at 37% of assets, down from 64% a quarter earlier, followed by Real Estate and Industrials.
Against the trend, Makena Capital Management opened a new position in T-Mobile US worth $12.1M.
- Makena Capital Management's largest Q3 2021 buy was T-Mobile US: 94,751 shares worth $12.1M.
- Makena Capital Management added most to Builders FirstSource in Q3 2021, an estimated $48.7M increase.
- Makena Capital Management's biggest Q3 2021 reduction was Snowflake, cutting an estimated $273M.
- Makena Capital Management fully exited Pegasystems in Q3 2021, selling an estimated $15.9M.
- Makena Capital Management's ten largest holdings make up 43% of its $592M portfolio in Q3 2021.
- Makena Capital Management opened 4 new positions and closed 3 in Q3 2021.
- Makena Capital Management's portfolio value fell 13% quarter-over-quarter to $592M.
Based on Makena Capital Management's 13F filing for Q3 2021, filed 12 Nov 2021.