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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
-2.23%
1 Year Est. Return
+17.79%
3 Year Est. Return
+74.29%
5 Year Est. Return
+61.44%
10 Year Est. Return
–
AUM
$467M
AUM Growth
-$56.3M
Cap. Flow
-$34.1M
Cap. Flow %
-7.3%
Top 10 Hldgs %
38.47%
Holding
49
New
7
Increased
20
Reduced
12
Closed
9

Top Buys

Rank Stock Value
1
CLBT icon
Cellebrite
CLBT
+$18.8M
2
PCOR icon
Procore
PCOR
+$13.9M
3
GE icon
GE Aerospace
GE
+$13.4M
4
AVB icon
AvalonBay Communities
AVB
+$10.4M
5
BXP icon
Boston Properties
BXP
+$7.6M

Top Sells

Rank Stock Value
1
SNOW icon
Snowflake
SNOW
+$63.7M
2
WAB icon
Wabtec
WAB
+$11.2M
3
ELS icon
Equity Lifestyle Properties
ELS
+$10M
4
GDDY icon
GoDaddy
GDDY
+$9.66M
5
SBAC icon
SBA Communications
SBAC
+$9.15M

Sector Composition

Rank Sector Weight
1 Technology 35.42%
2 Real Estate 26.37%
3 Consumer Discretionary 12.15%
4 Financials 6.54%
5 Consumer Staples 5.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CLBT icon
1
Cellebrite
CLBT
$3.99B
$24.1M 5.16%
3,149,554
+2,500,000
+385% +$18.8M
SNOW icon
2
Snowflake
SNOW
$115B
$23.4M 5%
153,028
-391,478
-72% -$63.7M
MSFT icon
3
Microsoft
MSFT
$3.71T
$20.1M 4.3%
63,672
+6,137
+11% +$2.03M
AMZN icon
4
Amazon
AMZN
$2.96T
$19.6M 4.2%
154,415
-2,242
-1% -$300K
UNH icon
5
UnitedHealth
UNH
$370B
$17.5M 3.75%
34,788
+2,468
+8% +$1.21M
V icon
6
Visa
V
$677B
$16.1M 3.45%
70,107
+5,769
+9% +$1.39M
INTU icon
7
Intuit
INTU
$89B
$15.2M 3.25%
29,743
-3,663
-11% -$1.85M
DDOG icon
8
Datadog
DDOG
$84B
$15.1M 3.23%
165,580
+16,751
+11% +$1.66M
SCHW
9
Charles Schwab
SCHW
$187B
$14.4M 3.09%
263,086
-5,043
-2% -$305K
MELI icon
10
Mercado Libre
MELI
$92.3B
$14.1M 3.02%
11,133
-294
-3% -$374K
GOOGL icon
11
Alphabet (Google) Class A
GOOGL
$4.33T
$13.9M 2.97%
105,983
-9,402
-8% -$1.22M
PCOR icon
12
Procore
PCOR
$8.67B
$13.6M 2.91%
+207,832
New +$13.9M
GE icon
13
GE Aerospace
GE
$384B
$13.1M 2.81%
+148,791
New +$13.4M
GIL icon
14
Gildan
GIL
$10.6B
$13.1M 2.81%
467,861
+137,913
+42% +$4.14M
ALIT icon
15
Alight
ALIT
$407M
$12.6M 2.7%
88,991
+19,031
+27% +$3.2M
WDAY icon
16
Workday
WDAY
$44.4B
$12.5M 2.67%
57,956
+28,014
+94% +$6.5M
WMT icon
17
Walmart Inc
WMT
$890B
$12.1M 2.59%
227,205
+33,780
+17% +$1.8M
POST icon
18
Post Holdings
POST
$3.57B
$11.3M 2.42%
132,019
+20,886
+19% +$1.82M
WELL icon
19
Welltower
WELL
$171B
$11.1M 2.38%
135,809
+7,565
+6% +$622K
TEAM icon
20
Atlassian
TEAM
$37.8B
$11M 2.36%
54,608
+11,635
+27% +$2.21M
UBER icon
21
Uber
UBER
$153B
$10.7M 2.29%
232,736
-19,128
-8% -$874K
COLD icon
22
Americold
COLD
$4.27B
$10.3M 2.2%
338,026
-25,048
-7% -$810K
AMH icon
23
American Homes 4 Rent
AMH
$12.5B
$10.1M 2.15%
298,678
+7,330
+3% +$263K
INVH icon
24
Invitation Homes
INVH
$18B
$9.84M 2.11%
310,374
+10,292
+3% +$354K
PLD icon
25
Prologis
PLD
$133B
$9.8M 2.1%
87,321
+2,293
+3% +$280K
1
2

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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 Q3 2023 Portfolio in Review

As of Q3 2023, Makena Capital Management held 49 positions worth $467M, down 11% from $523M the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Makena Capital Management withdrew a net $34.1M in Q3 2023, closing 9 positions and reducing 12 holdings. Its most notable exit was Wabtec, an estimated $11.2M position sold in full.

By sector, the portfolio is most concentrated in Technology at 35% of assets, down from 40% a quarter earlier, followed by Real Estate and Consumer Discretionary.

Against the trend, Makena Capital Management opened a new position in Procore worth $13.6M.

  • Makena Capital Management's largest Q3 2023 buy was Procore: 207,832 shares worth $13.6M.
  • Makena Capital Management added most to Cellebrite in Q3 2023, an estimated $18.8M increase.
  • Makena Capital Management's biggest Q3 2023 reduction was Snowflake, cutting an estimated $63.7M.
  • Makena Capital Management fully exited Wabtec in Q3 2023, selling an estimated $11.2M.
  • Makena Capital Management's ten largest holdings make up 38% of its $467M portfolio in Q3 2023.
  • Makena Capital Management opened 7 new positions and closed 9 in Q3 2023.
  • Makena Capital Management's portfolio value fell 11% quarter-over-quarter to $467M.

Based on Makena Capital Management's 13F filing for Q3 2023, filed 13 Nov 2023.