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MCM

Makena Capital Management Portfolio holdings

AUM $952M
1-Year Est. Return 13.93%
This Fund
S&P 500
This Quarter Est. Return
-1.18%
1 Year Est. Return
+13.93%
3 Year Est. Return
+78.75%
5 Year Est. Return
+64.32%
10 Year Est. Return
–
AUM
$969M
AUM Growth
+$352M
Cap. Flow
+$381M
Cap. Flow %
39.31%
Top 10 Hldgs %
76.7%
Holding
42
New
1
Increased
23
Reduced
–
Closed
17

Top Buys

Rank Stock Value
1
VOO icon
Vanguard S&P 500 ETF
VOO
+$251M
2
IEFA icon
iShares Core MSCI EAFE ETF
IEFA
+$64.2M
3
IEMG icon
iShares Core MSCI Emerging Markets ETF
IEMG
+$30.7M
4
MSFT icon
Microsoft
MSFT
+$13.7M
5
MTZ icon
MasTec
MTZ
+$13.1M

Top Sells

Rank Stock Value
1
EQIX icon
Equinix
EQIX
+$12.8M
2
META icon
Meta Platforms (Facebook)
META
+$9.9M
3
BRX icon
Brixmor Property Group
BRX
+$9.86M
4
WELL icon
Welltower
WELL
+$9.07M
5
PLD icon
Prologis
PLD
+$8.7M

Sector Composition

Rank Sector Weight
1 Miscellaneous 60.86%
2 Consumer Discretionary 8.65%
3 Technology 7.59%
4 Financials 6.58%
5 Communication Services 5.94%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VOO icon
1
Vanguard S&P 500 ETF
VOO
$1.06T
$385M 39.76%
749,448
+464,592
+163% +$251M
IEFA icon
2
iShares Core MSCI EAFE ETF
IEFA
$193B
$116M 12%
1,536,041
+858,111
+127% +$64.2M
IEMG icon
3
iShares Core MSCI Emerging Markets ETF
IEMG
$163B
$52.1M 5.38%
965,274
+569,835
+144% +$30.7M
MSFT icon
4
Microsoft
MSFT
$3.83T
$31.3M 3.23%
83,385
+33,562
+67% +$13.7M
AMZN icon
5
Amazon
AMZN
$2.69T
$29.8M 3.08%
156,808
+55,571
+55% +$12.1M
GE icon
6
GE Aerospace
GE
$339B
$28.8M 2.97%
143,846
+46,013
+47% +$9.05M
XLV icon
7
State Street Health Care Select Sector SPDR ETF
XLV
$44.1B
$26.1M 2.69%
178,487
+68,600
+62% +$9.97M
SGI
8
Somnigroup International
SGI
$13.5B
$24.8M 2.56%
413,736
+152,763
+59% +$9.25M
GOOGL icon
9
Alphabet (Google) Class A
GOOGL
$4.21T
$24.7M 2.55%
159,988
+54,422
+52% +$9.87M
GWRE icon
10
Guidewire Software
GWRE
$11.9B
$24M 2.48%
128,288
+48,433
+61% +$9.41M
V icon
11
Visa
V
$690B
$23.7M 2.45%
67,589
+21,249
+46% +$7.19M
MCO icon
12
Moody's
MCO
$81.2B
$22.2M 2.29%
47,665
+21,711
+84% +$10.5M
LLYVK icon
13
Liberty Live Group Series C
LLYVK
$9.14B
$20.7M 2.13%
303,156
+104,009
+52% +$7.42M
MTZ icon
14
MasTec
MTZ
$17.1B
$20.5M 2.12%
175,618
+96,911
+123% +$13.1M
SHW icon
15
Sherwin-Williams
SHW
$79.9B
$18.6M 1.92%
53,204
+20,550
+63% +$7.21M
CPNG icon
16
Coupang
CPNG
$24.9B
$18.5M 1.91%
842,277
+331,399
+65% +$7.7M
SPGI icon
17
S&P Global
SPGI
$119B
$17.9M 1.84%
35,141
+16,509
+89% +$8.44M
USFD icon
18
US Foods
USFD
$20.2B
$14.6M 1.51%
223,633
+84,309
+61% +$5.76M
CRH icon
19
CRH
CRH
$56.6B
$13.7M 1.42%
156,299
+45,163
+41% +$4.44M
FWONK icon
20
Liberty Media Corporation Series C Common Stock
FWONK
$23.7B
$12.2M 1.25%
+135,051
New +$12.5M
GIL icon
21
Gildan
GIL
$7.59B
$10.7M 1.1%
241,205
+77,364
+47% +$3.85M
XLP icon
22
State Street Consumer Staples Select Sector SPDR ETF
XLP
$13.8B
$10.1M 1.04%
123,477
+45,615
+59% +$3.64M
TEAM icon
23
Atlassian
TEAM
$47.5B
$9.7M 1%
45,688
+14,959
+49% +$3.95M
PCOR icon
24
Procore
PCOR
$7.49B
$8.48M 0.88%
128,454
+8,653
+7% +$653K
SNDA icon
25
Sonida Senior Living
SNDA
$1.81B
$4.31M 0.44%
185,000
– –
1
2

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AWP
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LRPA
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NOCM
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Makena Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Makena Capital Management held 42 positions worth $969M, up 57% from $616M the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Makena Capital Management deployed $381M of net new capital in Q1 2025, opening 1 new position and adding to 23 existing holdings. Its largest new stake was Liberty Media Corporation Series C Common Stock: 135,051 shares worth $12.2M.

By sector, the portfolio is most concentrated in Miscellaneous at 61% of assets, up from 39% a quarter earlier, followed by Consumer Discretionary and Technology.

On the sell side, the most notable exit was Equinix, an estimated $12.8M sold.

  • Makena Capital Management's largest Q1 2025 buy was Liberty Media Corporation Series C Common Stock: 135,051 shares worth $12.2M.
  • Makena Capital Management added most to Vanguard S&P 500 ETF in Q1 2025, an estimated $251M increase.
  • Makena Capital Management fully exited Equinix in Q1 2025, selling an estimated $12.8M.
  • Makena Capital Management's ten largest holdings make up 77% of its $969M portfolio in Q1 2025.
  • Makena Capital Management opened 1 new position and closed 17 in Q1 2025.
  • Makena Capital Management's portfolio value rose 57% quarter-over-quarter to $969M.

Based on Makena Capital Management's 13F filing for Q1 2025, filed 13 May 2025.