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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
+0.09%
1 Year Est. Return
+17.79%
3 Year Est. Return
+74.29%
5 Year Est. Return
+61.44%
10 Year Est. Return
–
AUM
$532M
AUM Growth
-$67.8M
(-11%)
Cap. Flow
-$55.9M
Cap. Flow
% of AUM
-10.5%
Top 10 Holdings %
Top 10 Hldgs %
46.75%
Holding
55
New
10
Increased
12
Reduced
18
Closed
13
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
UDR
UDR
|
+$11.7M |
| 2 |
Sun Communities
SUI
|
+$11M |
| 3 |
Apple Hospitality REIT
APLE
|
+$9.98M |
| 4 |
Welltower
WELL
|
+$9.81M |
| 5 |
Visa
V
|
+$9.77M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Builders FirstSource
BLDR
|
+$21.2M |
| 2 |
LSI
Life Storage, Inc.
LSI
|
+$11.5M |
| 3 |
ABB
ABB Ltd
ABB
|
+$9.96M |
| 4 |
Mercado Libre
MELI
|
+$9.85M |
| 5 |
Expedia Group
EXPE
|
+$9.35M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 36.7% |
| 2 | Real Estate | 30.74% |
| 3 | Industrials | 9.39% |
| 4 | Communication Services | 6.12% |
| 5 | Consumer Discretionary | 4.66% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Snowflake
SNOW
$115B
| $103M | 19.35% |
717,612
-13,762
| -2% | -$2.1M |
|
|
2
Builders FirstSource
BLDR
$8.04B
| $38.7M | 7.27% |
596,362
-339,108
| -36% | -$21.2M |
|
3
Microsoft
MSFT
$3.71T
| $16.4M | 3.09% |
68,574
+9,228
| +16% | +$2.21M |
|
4
Amazon
AMZN
$2.96T
| $16.2M | 3.04% |
192,755
+62,906
| +48% | +$6.21M |
|
5
Datadog
DDOG
$84B
| $13M | 2.44% |
176,918
+35,209
| +25% | +$2.75M |
|
6
Intuit
INTU
$89B
| $13M | 2.44% |
33,338
+998
| +3% | +$396K |
|
7
First Industrial Realty Trust
FR
$8.44B
| $12.3M | 2.31% |
255,178
-31,165
| -11% | -$1.49M |
|
8
Alphabet (Google) Class A
GOOGL
$4.33T
| $12.3M | 2.31% |
139,460
| – | – |
|
9
Americold
COLD
$4.27B
| $12.3M | 2.31% |
434,253
+79,596
| +22% | +$2.14M |
|
|
SCHW
10
Charles Schwab
SCHW
$187B
| $11.6M | 2.18% |
139,614
+32,318
| +30% | +$2.51M |
|
11
Equity Lifestyle Properties
ELS
$12.6B
| $11.6M | 2.18% |
179,621
-3,652
| -2% | -$231K |
|
|
12
UDR
UDR
$12.3B
| $11.5M | 2.16% |
+296,465
| New | +$11.7M |
|
|
13
Sun Communities
SUI
$14.7B
| $11.5M | 2.16% |
+80,254
| New | +$11M |
|
14
UnitedHealth
UNH
$370B
| $11.4M | 2.13% |
21,411
-4,892
| -19% | -$2.59M |
|
15
Wabtec
WAB
$49.3B
| $11.3M | 2.12% |
113,051
-35,277
| -24% | -$3.37M |
|
|
JAMF
16
DELISTED
Jamf
JAMF
| $11.1M | 2.08% |
520,475
+114,167
| +28% | +$2.51M |
|
17
Invitation Homes
INVH
$18B
| $10.6M | 1.99% |
357,044
-6,092
| -2% | -$193K |
|
18
American Homes 4 Rent
AMH
$12.5B
| $10.6M | 1.98% |
350,253
+16,880
| +5% | +$535K |
|
19
Dynatrace
DT
$14.2B
| $10.3M | 1.94% |
268,956
-73,858
| -22% | -$2.68M |
|
|
20
Visa
V
$677B
| $10.1M | 1.89% |
+48,460
| New | +$9.77M |
|
21
Rexford Industrial Realty
REXR
$8.19B
| $10M | 1.88% |
183,126
+3,729
| +2% | +$201K |
|
|
22
Welltower
WELL
$171B
| $10M | 1.88% |
+152,579
| New | +$9.81M |
|
23
GoDaddy
GDDY
$11.5B
| $9.94M | 1.87% |
132,915
-61,626
| -32% | -$4.62M |
|
24
Crown Castle
CCI
$32.2B
| $9.87M | 1.85% |
72,786
-7,757
| -10% | -$1.05M |
|
25
SITE Centers
SITC
$165M
| $9.87M | 1.85% |
+926,100
| New | +$9.09M |
|
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Makena Capital Management's Q4 2022 Portfolio in Review
As of Q4 2022, Makena Capital Management held 55 positions worth $532M, down 11% from $600M the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Makena Capital Management withdrew a net $55.9M in Q4 2022, closing 13 positions and reducing 18 holdings. Its most notable exit was Life Storage, Inc., an estimated $11.5M position sold in full.
By sector, the portfolio is most concentrated in Technology at 37% of assets, down from 39% a quarter earlier, followed by Real Estate and Industrials.
Against the trend, Makena Capital Management opened a new position in UDR worth $11.5M.
- Makena Capital Management's largest Q4 2022 buy was UDR: 296,465 shares worth $11.5M.
- Makena Capital Management added most to Amazon in Q4 2022, an estimated $6.21M increase.
- Makena Capital Management's biggest Q4 2022 reduction was Builders FirstSource, cutting an estimated $21.2M.
- Makena Capital Management fully exited Life Storage, Inc. in Q4 2022, selling an estimated $11.5M.
- Makena Capital Management's ten largest holdings make up 47% of its $532M portfolio in Q4 2022.
- Makena Capital Management opened 10 new positions and closed 13 in Q4 2022.
- Makena Capital Management's portfolio value fell 11% quarter-over-quarter to $532M.
Based on Makena Capital Management's 13F filing for Q4 2022, filed 13 Feb 2023.