Makena Capital Management LLC
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Makena Capital Management LLC reported 38 stock positions worth $431.6 million. Its top holding was Amazon.com (AMZN) at 5.4% of the portfolio, followed by Microsoft (MSFT, 5.0%) and General Electric (GE, 4.3%). Compared with Q1 2024, it opened 13 new positions, sold out of 14, added to 17 and reduced 7. The biggest buy was a new position in SS Health Care Select Sector (XLV) and the biggest sale an exit from BXP (BXP).
- Most Recent 13F
- Q2 2026
- Location
- MENLO PARK, CA
- CIK
- 0001359262
- Portfolio Value
- $431.6M (Q2 2024)
- SEC Filing
- 0001359262-24-000006 ↗ filed Aug 14, 2024
Holdings Value
Holdings 38 stocks · $431.6M
| AMZN Amazon.com Inc. | 5.36% | 119,661 | $23.1M | Reduce -2.7% |
| MSFT Microsoft Corp. | 5.01% | 48,420 | $21.6M | Reduce -7.0% |
| GE General Electric filed as GE AEROSPACE | 4.27% | 115,998 | $18.4M | Add +7.8% |
| PCOR Procore Technologies Inc. | 4.07% | 265,194 | $17.6M | Add +27.6% |
| GOOGL Alphabet Inc. Class A | 3.86% | 91,520 | $16.7M | Add +31.6% |
| V Visa Inc. Class A | 3.74% | 61,525 | $16.1M | Add +1.7% |
| META Meta Platforms Inc. Class A | 3.49% | 29,867 | $15.1M | Reduce -1.4% |
| CRM Salesforce Inc. | 3.34% | 56,106 | $14.4M | Add +26.8% |
| XLV SS Health Care Select Sector | 3.18% | 94,101 | $13.7M | New |
| GIL Gildan Activewear Inc. | 3.13% | 355,746 | $13.5M | Reduce -1.7% |
| USFD US Foods Holding Corp. | 3.08% | 250,537 | $13.3M | No change |
| EQIX Equinix Inc. | 2.98% | 17,026 | $12.9M | New |
| PLD Prologis Inc. | 2.66% | 102,363 | $11.5M | Add +16.9% |
| CRH CRH PLC | 2.58% | 148,406 | $11.1M | Add +8.6% |
| WELL Welltower Inc. | 2.52% | 104,427 | $10.9M | Add +12.5% |
| BRX Brixmor Property Group Inc. | 2.35% | 439,356 | $10.1M | Add +42.8% |
| XLP SS Consumer Staples Sel Sect | 2.35% | 132,260 | $10.1M | Add +0.8% |
| INTU Intuit Inc. | 2.34% | 15,396 | $10.1M | Reduce -36.0% |
| GTM Zoominfo Technologies Inc. | 2.33% | 787,511 | $10.1M | Add +20.3% |
| IRT Independence Realty Trust Inc. | 2.33% | 535,697 | $10.0M | New |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 2.30% | 143,420 | $9.9M | New |
| CPT Camden Property Trust | 2.26% | 89,494 | $9.8M | New |
| MELI MercadoLibre Inc. | 2.21% | 5,802 | $9.5M | Reduce -12.1% |
| AMH American Homes 4 Rent- A | 2.17% | 251,987 | $9.4M | Add +30.0% |
| SGI Somnigroup International Inc. filed as TEMPUR SEALY INTL INC | 2.15% | 195,651 | $9.3M | Add +8.1% |
| INVH Invitation Homes Inc. | 2.14% | 257,021 | $9.2M | Add +22.3% |
| MCO Moody's Corp. | 2.03% | 20,785 | $8.7M | Add +16.3% |
| SPGI S&P Global Inc. | 2.02% | 19,510 | $8.7M | Add +25.0% |
| EGP Eastgroup Properties Inc. | 1.99% | 50,496 | $8.6M | New |
| DLR Digital Realty Trust Inc. | 1.98% | 56,225 | $8.5M | New |
| IVT Inventrust Properties Corp. | 1.97% | 343,038 | $8.5M | Add +28.6% |
| COLD Americold Realty Trust Inc. | 1.95% | 329,113 | $8.4M | New |
| AMT American Tower Corp. | 1.81% | 40,114 | $7.8M | New |
| GWRE Guidewire Software Inc. | 1.77% | 55,545 | $7.7M | New |
| VTR Ventas Inc. | 1.67% | 140,841 | $7.2M | New |
| PLNT Planet Fitness Inc. Class A | 1.55% | 91,085 | $6.7M | Reduce -55.6% |
| MTZ Mastec Inc. | 1.53% | 61,614 | $6.6M | New |
| TOST Toast Inc. Class A | 1.52% | 255,021 | $6.6M | New |
Portfolio Sells Q1 2024 → Q2 2024
| BXP BXP Inc. | Sold out | 0.00% | −2.88 |
| TEAM Atlassian Corp. Class A | Sold out | 0.00% | −2.42 |
| FR First Industrial Realty TR | Sold out | 0.00% | −2.41 |
| AVB Avalonbay Communities Inc. | Sold out | 0.00% | −2.39 |
| HUM Humana Inc. | Sold out | 0.00% | −2.37 |
| UDR Udr Inc. | Sold out | 0.00% | −2.28 |
| ARE Alexandria Real Estate Equit | Sold out | 0.00% | −2.20 |
| TRNO Terreno Realty Corp. | Sold out | 0.00% | −1.86 |
| PSA Public Storage | Sold out | 0.00% | −1.74 |
| EXR Extra Space Storage Inc. | Sold out | 0.00% | −1.73 |
| MAA Mid-America Apartment Comm | Sold out | 0.00% | −1.66 |
| HUBS HubSpot Inc. | Sold out | 0.00% | −1.64 |
| GMS GMS Inc. | Sold out | 0.00% | −1.63 |
| REXR Rexford Industrial Realty Inc. | Sold out | 0.00% | −1.56 |
| PLNT Planet Fitness Inc. Class A | Reduce -55.6% | 1.55% | −1.44 |
| INTU Intuit Inc. | Reduce -36.0% | 2.34% | −1.29 |
| MELI MercadoLibre Inc. | Reduce -12.1% | 2.21% | −0.11 |
| MSFT Microsoft Corp. | Reduce -7.0% | 5.01% | −0.08 |
| GIL Gildan Activewear Inc. | Reduce -1.7% | 3.13% | −0.00 |
| META Meta Platforms Inc. Class A | Reduce -1.4% | 3.49% | +0.07 |
| AMZN Amazon.com Inc. | Reduce -2.7% | 5.36% | +0.19 |
Portfolio Buys Q1 2024 → Q2 2024
| XLV SS Health Care Select Sector | New | 3.18% | +3.18 |
| EQIX Equinix Inc. | New | 2.98% | +2.98 |
| IRT Independence Realty Trust Inc. | New | 2.33% | +2.33 |
| VMRK Vivmark Residential | New | 2.30% | +2.30 |
| CPT Camden Property Trust | New | 2.26% | +2.26 |
| EGP Eastgroup Properties Inc. | New | 1.99% | +1.99 |
| DLR Digital Realty Trust Inc. | New | 1.98% | +1.98 |
| COLD Americold Realty Trust Inc. | New | 1.95% | +1.95 |
| AMT American Tower Corp. | New | 1.81% | +1.81 |
| GWRE Guidewire Software Inc. | New | 1.77% | +1.77 |
| VTR Ventas Inc. | New | 1.67% | +1.67 |
| MTZ Mastec Inc. | New | 1.53% | +1.53 |
| TOST Toast Inc. Class A | New | 1.52% | +1.52 |
| GOOGL Alphabet Inc. Class A | Add +31.6% | 3.86% | +1.42 |
| BRX Brixmor Property Group Inc. | Add +42.8% | 2.35% | +0.67 |
| AMH American Homes 4 Rent- A | Add +30.0% | 2.17% | +0.51 |
| WELL Welltower Inc. | Add +12.5% | 2.52% | +0.50 |
| SPGI S&P Global Inc. | Add +25.0% | 2.02% | +0.47 |
| INVH Invitation Homes Inc. | Add +22.3% | 2.14% | +0.40 |
| MCO Moody's Corp. | Add +16.3% | 2.03% | +0.39 |
| IVT Inventrust Properties Corp. | Add +28.6% | 1.97% | +0.37 |
| CRM Salesforce Inc. | Add +26.8% | 3.34% | +0.24 |
| PCOR Procore Technologies Inc. | Add +27.6% | 4.07% | +0.10 |
| XLP SS Consumer Staples Sel Sect | Add +0.8% | 2.35% | +0.01 |
| PLD Prologis Inc. | Add +16.9% | 2.66% | +0.01 |
| GTM Zoominfo Technologies Inc. | Add +20.3% | 2.33% | −0.11 |
| GE General Electric | Add +7.8% | 4.27% | −0.13 |
| CRH CRH PLC | Add +8.6% | 2.58% | −0.17 |
| V Visa Inc. Class A | Add +1.7% | 3.74% | −0.19 |
| SGI Somnigroup International Inc. | Add +8.1% | 2.15% | −0.25 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 26 | $951.8M | VOO, IEFA, IEMG, VEEV, GWRE |
| Q1 2026 | 27 | $866.1M | VOO, IEFA, IEMG, AMZN, GWRE |
| Q4 2025 | 26 | $834.5M | VOO, IEFA, IEMG, AMZN, MSFT |
| Q3 2025 | 24 | $968.5M | VOO, IEFA, IEMG, MSFT, AMZN |
| Q2 2025 | 24 | $998.3M | VOO, IEFA, IEMG, MSFT, AMZN |
| Q1 2025 | 25 | $968.7M | VOO, IEFA, IEMG, MSFT, AMZN |
| Q4 2024 | 41 | $616.5M | VOO, IEFA, AMZN, MSFT, IEMG |
| Q3 2024 | 39 | $416.4M | AMZN, MSFT, GWRE, GE, GOOGL |
| Q2 2024 | 38 | $431.6M | AMZN, MSFT, GE, PCOR, GOOGL |
| Q1 2024 | 39 | $429.6M | AMZN, MSFT, GE, PCOR, V |