MAKENA CAPITAL MANAGEMENT LLC
CIK 1359262 · View on SEC EDGAR ↗
- Portfolio value
- $951.8M
- Positions
- 26
- As of
- June 30, 2026
#2,536 of 9,443 by 13F value · top 26.9%
Portfolio value QoQ: +9.9% 13F does not disclose cash
- Top 10 holdings weight
- 69.58%
- Top 25 holdings weight
- 99.60%
- Positions above 1%
- 24
- Effective number of positions
- 8.3
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 9.44% Est. buys $85,833,985 · sells $94,143,085
Median holding: 2.0 quarters Tracked Q4 2024–Q2 2026 · 48.1% still held
- New positions
- 2
- Increased
- 12
- Decreased
- 10
- Closed
- 3
On this page
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Sector breakdown
Technology
12.8%
Industrials
9.2%
Financial Services
8.5%
Retail
7.8%
Communication Services
6.4%
Health Care
4.6%
Other/Unmapped
50.8%
Full portfolio 26 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| VOO | $289,994,534 | 30.47% | 422,234 | $25,437,040 | Down ×1 | ||
| IEFA | $98,306,561 | 10.33% | 1,017,877 | $726,447 | Down ×1 | ||
| IEMG | $48,927,126 | 5.14% | 590,622 | $651,547 | Down ×1 | ||
| VEEV Veeva Systems Inc. Class A Common Stock | $35,931,464 | 3.77% | 202,465 | $8,651,817 | Up ×4 | ||
| GWRE Guidewire Software, Inc. Common Stock | $34,821,181 | 3.66% | 282,984 | $4,813,014 | Up ×4 | ||
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $34,123,809 | 3.59% | 71,453 | $5,828,607 | Down ×4 | ||
| XLV XLV | $31,287,911 | 3.29% | 197,201 | $5,796,390 | Up ×1 | ||
| V Visa Inc. | $30,963,529 | 3.25% | 90,249 | $3,743,492 | Up ×2 | ||
| AMZN Amazon.com, Inc. - Common Stock | $30,941,299 | 3.25% | 129,820 | $287,496 | Down ×1 | ||
| MCO Moody's Corporation Common Stock | $27,026,189 | 2.84% | 59,671 | $5,624,636 | Up ×2 | ||
| LLYVK Liberty Live Holdings, Inc. - Series C Liberty Live Group Common Stock | $25,329,725 | 2.66% | 239,774 | $3,698,447 | Up ×1 | ||
| MTZ MasTec, Inc. Common Stock | $25,151,659 | 2.64% | 60,452 | $-338,193 | Down ×5 | ||
| GE GE Aerospace Common Stock | $25,122,131 | 2.64% | 67,220 | $6,176,794 | Up ×1 | ||
| MELI MercadoLibre, Inc. - Common Stock | $24,450,903 | 2.57% | 14,405 | Up ×1 | |||
| SPGI S&P Global Inc. Common Stock | $22,642,841 | 2.38% | 55,598 | $3,064,866 | Up ×2 | ||
| CRH CRH PLC Ordinary Shares | $22,026,271 | 2.31% | 205,853 | $2,179,720 | Up ×2 | ||
| PCOR Procore Technologies, Inc. Common Stock | $20,217,630 | 2.12% | 497,726 | $1,938,813 | Up ×3 | ||
| CPNG Coupang, Inc. Class A Common Stock | $19,038,441 | 2.00% | 1,096,053 | $2,371,819 | Up ×3 | ||
| NVDA NVIDIA Corporation - Common Stock | $18,954,126 | 1.99% | 94,728 | $437,032 | Down ×1 | ||
| GOOGL Alphabet Inc. - Class A Common Stock | $18,805,524 | 1.98% | 52,622 | $1,124,035 | Down ×1 | ||
| NYT New York Times Company (The) Common Stock | $16,364,683 | 1.72% | 233,848 | Up ×1 | |||
| JCI Johnson Controls International plc Ordinary Share | $15,212,243 | 1.60% | 104,115 | $383,858 | Down ×1 | ||
| FSLR First Solar, Inc. - Common Stock | $13,650,522 | 1.43% | 57,851 | $2,238,834 | |||
| XLP XLP | $11,198,667 | 1.18% | 134,810 | $-1,290,822 | Down ×1 | ||
| SNDA Sonida Senior Living, Inc. Common Stock | $7,548,000 | 0.79% | 185,000 | $1,581,750 | |||
| MDLN Medline Inc. - Class A common stock | $3,811,127 | 0.40% | 96,631 | $-369,604 | Up ×1 | ||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
Biggest new bets
New positions opened this quarter, largest first.
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| VOO | Trimmed | -21K | +$25.4M |
| VEEV | Bought more | +47K | +$8.7M |
| GE | Bought more | +457 | +$6.2M |
| TSM | Trimmed | -12K | +$5.8M |
| XLV | Bought more | +23K | +$5.8M |
| MCO | Bought more | +11K | +$5.6M |
| GWRE | Bought more | +82K | +$4.8M |
| V | Bought more | +188 | +$3.7M |
| LLYVK | Bought more | +10K | +$3.7M |
| SPGI | Bought more | +10K | +$3.1M |
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| LLYVKXXXX | Dec. 31, 2025 | 262,125 | $25,418,261 | No longer tracked |
| MSFT | June 30, 2026 | 55,744 | $20,634,756 | 29.2% |
| FERG | March 31, 2026 | 87,063 | $19,382,836 | 2.6% |
| SHW | Sept. 30, 2025 | 56,023 | $19,236,057 | 0.5% |
| SGI | June 30, 2026 | 251,222 | $18,570,330 | -17.4% |
| USFD | March 31, 2026 | 223,384 | $16,825,283 | 17.8% |
| CRH | June 30, 2025 | 156,299 | $13,749,623 | 3.0% |
| EQIX | March 31, 2025 | 13,581 | $12,805,389 | 34.4% |
| FWONK | Sept. 30, 2025 | 120,696 | $12,612,732 | 0.0% |
| FLUT | Dec. 31, 2025 | 45,344 | $11,517,376 | -53.6% |
| GIL | June 30, 2025 | 241,205 | $10,666,085 | 15.0% |
| META | March 31, 2025 | 16,916 | $9,904,487 | -4.8% |
| BRX | March 31, 2025 | 354,192 | $9,860,705 | 11.0% |
| TEAM | June 30, 2025 | 45,688 | $9,695,450 | -16.2% |
| WELL | March 31, 2025 | 71,958 | $9,068,867 | 55.6% |
| PLD | March 31, 2025 | 82,298 | $8,698,899 | 26.4% |
| DLR | March 31, 2025 | 48,385 | $8,580,112 | 37.0% |
| IRT | March 31, 2025 | 429,633 | $8,523,919 | -21.5% |
| CPT | March 31, 2025 | 71,909 | $8,344,320 | -11.6% |
| EQR | March 31, 2025 | 115,389 | $8,280,315 | -11.1% |
| IVT | March 31, 2025 | 265,212 | $7,990,838 | 13.0% |
| SHO | March 31, 2025 | 653,260 | $7,734,598 | 20.9% |
| VTR | March 31, 2025 | 123,542 | $7,275,388 | 34.9% |
| AMH | March 31, 2025 | 188,057 | $7,037,093 | -8.6% |
| AMT | March 31, 2025 | 37,222 | $6,826,887 | -18.8% |
| HST | March 31, 2025 | 382,565 | $6,702,539 | 63.1% |
| COLD | March 31, 2025 | 277,747 | $5,943,786 | -29.5% |
| RBRK | March 31, 2025 | 18,253 | $1,193,016 | 58.0% |
| FIG | June 30, 2026 | 28,113 | $594,309 | 48.5% |