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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
+7.68%
1 Year Est. Return
+17.79%
3 Year Est. Return
+74.29%
5 Year Est. Return
+61.44%
10 Year Est. Return
–
AUM
$527M
AUM Growth
-$4.87M
(-0.91%)
Cap. Flow
-$30M
Cap. Flow
% of AUM
-5.69%
Top 10 Holdings %
Top 10 Hldgs %
46.74%
Holding
46
New
4
Increased
11
Reduced
21
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alight
ALIT
|
+$12.8M |
| 2 |
Mercado Libre
MELI
|
+$10.4M |
| 3 |
GMS
GMS Inc
GMS
|
+$6.94M |
| 4 |
Visa
V
|
+$6.31M |
| 5 |
RH
RH
|
+$5.69M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Builders FirstSource
BLDR
|
+$38.7M |
| 2 |
Dynatrace
DT
|
+$10.3M |
| 3 |
T-Mobile US
TMUS
|
+$8.53M |
| 4 |
Meta Platforms (Facebook)
META
|
+$5.94M |
| 5 |
Snowflake
SNOW
|
+$4.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 39.8% |
| 2 | Real Estate | 29.12% |
| 3 | Consumer Discretionary | 9.43% |
| 4 | Financials | 4.67% |
| 5 | Healthcare | 4.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Snowflake
SNOW
$115B
| $106M | 20.12% |
687,612
-30,000
| -4% | -$4.4M |
|
2
Microsoft
MSFT
$3.71T
| $20.6M | 3.9% |
71,310
+2,736
| +4% | +$698K |
|
3
Amazon
AMZN
$2.96T
| $19M | 3.6% |
183,570
-9,185
| -5% | -$887K |
|
|
4
Visa
V
$677B
| $17.3M | 3.28% |
76,791
+28,331
| +58% | +$6.31M |
|
5
Alphabet (Google) Class A
GOOGL
$4.33T
| $16M | 3.04% |
154,573
+15,113
| +11% | +$1.45M |
|
6
UnitedHealth
UNH
$370B
| $15.2M | 2.88% |
32,194
+10,783
| +50% | +$5.2M |
|
7
Intuit
INTU
$89B
| $14.9M | 2.82% |
33,406
+68
| +0.2% | +$27.9K |
|
|
8
Alight
ALIT
$407M
| $12.9M | 2.44% |
+69,960
| New | +$12.8M |
|
9
First Industrial Realty Trust
FR
$8.44B
| $12.5M | 2.36% |
234,441
-20,737
| -8% | -$1.08M |
|
|
10
Mercado Libre
MELI
$92.3B
| $12.1M | 2.29% |
+9,155
| New | +$10.4M |
|
11
Datadog
DDOG
$84B
| $12.1M | 2.29% |
166,031
-10,887
| -6% | -$799K |
|
12
Hilton Worldwide
HLT
$71.5B
| $11.8M | 2.23% |
83,498
+35,800
| +75% | +$5.04M |
|
13
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.7B
| $11.5M | 2.18% |
154,003
+22,150
| +17% | +$1.62M |
|
14
Americold
COLD
$4.27B
| $11.4M | 2.16% |
399,514
-34,739
| -8% | -$1.04M |
|
15
UDR
UDR
$12.3B
| $11.2M | 2.13% |
273,242
-23,223
| -8% | -$959K |
|
16
Equity Lifestyle Properties
ELS
$12.6B
| $11.1M | 2.1% |
165,069
-14,552
| -8% | -$988K |
|
|
JAMF
17
DELISTED
Jamf
JAMF
| $11M | 2.08% |
565,252
+44,777
| +9% | +$897K |
|
18
GoDaddy
GDDY
$11.5B
| $10.9M | 2.08% |
140,861
+7,946
| +6% | +$613K |
|
19
Sun Communities
SUI
$14.7B
| $10.4M | 1.97% |
73,746
-6,508
| -8% | -$951K |
|
20
Invitation Homes
INVH
$18B
| $10.3M | 1.95% |
328,948
-28,096
| -8% | -$880K |
|
21
American Homes 4 Rent
AMH
$12.5B
| $10.1M | 1.92% |
321,826
-28,427
| -8% | -$907K |
|
22
Welltower
WELL
$171B
| $10.1M | 1.91% |
140,519
-12,060
| -8% | -$875K |
|
23
Rexford Industrial Realty
REXR
$8.19B
| $10M | 1.9% |
168,171
-14,955
| -8% | -$895K |
|
24
Atlassian
TEAM
$37.8B
| $9.58M | 1.82% |
55,977
| – | – |
|
25
Post Holdings
POST
$3.57B
| $9.15M | 1.74% |
101,843
+6,703
| +7% | +$610K |
|
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Makena Capital Management's Q1 2023 Portfolio in Review
As of Q1 2023, Makena Capital Management held 46 positions worth $527M, down 0.91% from $532M the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Makena Capital Management withdrew a net $30M in Q1 2023, closing 4 positions and reducing 21 holdings. Its most notable exit was Builders FirstSource, an estimated $38.7M position sold in full.
By sector, the portfolio is most concentrated in Technology at 40% of assets, up from 37% a quarter earlier, followed by Real Estate and Consumer Discretionary.
Against the trend, Makena Capital Management opened a new position in Alight worth $12.9M.
- Makena Capital Management's largest Q1 2023 buy was Alight: 69,960 shares worth $12.9M.
- Makena Capital Management added most to Visa in Q1 2023, an estimated $6.31M increase.
- Makena Capital Management's biggest Q1 2023 reduction was Snowflake, cutting an estimated $4.4M.
- Makena Capital Management fully exited Builders FirstSource in Q1 2023, selling an estimated $38.7M.
- Makena Capital Management's ten largest holdings make up 47% of its $527M portfolio in Q1 2023.
- Makena Capital Management opened 4 new positions and closed 4 in Q1 2023.
- Makena Capital Management's portfolio value fell 0.91% quarter-over-quarter to $527M.
Based on Makena Capital Management's 13F filing for Q1 2023, filed 15 May 2023.