Makena Capital Management LLC
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 8, 2024), Makena Capital Management LLC reported 39 stock positions worth $416.4 million. Its top holding was Amazon.com (AMZN) at 4.4% of the portfolio, followed by Microsoft (MSFT, 4.4%) and Guidewire Software (GWRE, 4.0%). Compared with Q2 2024, it opened 5 new positions, sold out of 4, added to 6 and reduced 28. The biggest buy was a new position in Liberty Media Corp.-Liberty-C (LLYVK) and the biggest sale an exit from Salesforce (CRM).
- Most Recent 13F
- Q2 2026
- Location
- MENLO PARK, CA
- CIK
- 0001359262
- Portfolio Value
- $416.4M (Q3 2024)
- SEC Filing
- 0001359262-24-000008 ↗ filed Nov 8, 2024
Holdings Value
Holdings 39 stocks · $416.4M
| AMZN Amazon.com Inc. | 4.40% | 98,317 | $18.3M | Reduce -17.8% |
| MSFT Microsoft Corp. | 4.36% | 42,239 | $18.2M | Reduce -12.8% |
| GWRE Guidewire Software Inc. | 3.95% | 89,967 | $16.5M | Add +62.0% |
| GE General Electric filed as GE AEROSPACE | 3.91% | 86,422 | $16.3M | Reduce -25.5% |
| GOOGL Alphabet Inc. Class A | 3.66% | 91,834 | $15.2M | Add +0.3% |
| EQIX Equinix Inc. | 3.53% | 16,556 | $14.7M | Reduce -2.8% |
| META Meta Platforms Inc. Class A | 3.22% | 23,450 | $13.4M | Reduce -21.5% |
| PCOR Procore Technologies Inc. | 3.21% | 216,899 | $13.4M | Reduce -18.2% |
| WELL Welltower Inc. | 3.12% | 101,577 | $13.0M | Reduce -2.7% |
| PLD Prologis Inc. | 3.04% | 100,095 | $12.6M | Reduce -2.2% |
| BRX Brixmor Property Group Inc. | 2.88% | 429,869 | $12.0M | Reduce -2.2% |
| XLV SS Health Care Select Sector | 2.84% | 76,811 | $11.8M | Reduce -18.4% |
| V Visa Inc. Class A | 2.84% | 43,010 | $11.8M | Reduce -30.1% |
| SGI Somnigroup International Inc. filed as TEMPUR SEALY INTL INC | 2.69% | 205,205 | $11.2M | Add +4.9% |
| CPT Camden Property Trust | 2.59% | 87,378 | $10.8M | Reduce -2.4% |
| MTZ Mastec Inc. | 2.58% | 87,146 | $10.7M | Add +41.4% |
| IRT Independence Realty Trust Inc. | 2.57% | 522,320 | $10.7M | Reduce -2.5% |
| MCO Moody's Corp. | 2.52% | 22,072 | $10.5M | Add +6.2% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 2.51% | 140,138 | $10.4M | Reduce -2.3% |
| LLYVK Liberty Media Corp.-Liberty-C | 2.45% | 199,147 | $10.2M | New |
| CRH CRH PLC | 2.37% | 106,482 | $9.9M | Reduce -28.3% |
| GIL Gildan Activewear Inc. | 2.35% | 207,633 | $9.8M | Reduce -41.6% |
| IVT Inventrust Properties Corp. | 2.29% | 335,628 | $9.5M | Reduce -2.2% |
| AMH American Homes 4 Rent- A | 2.26% | 245,381 | $9.4M | Reduce -2.6% |
| EGP Eastgroup Properties Inc. | 2.21% | 49,200 | $9.2M | Reduce -2.6% |
| COLD Americold Realty Trust Inc. | 2.18% | 320,926 | $9.1M | Reduce -2.5% |
| AMT American Tower Corp. | 2.17% | 38,805 | $9.0M | Reduce -3.3% |
| INVH Invitation Homes Inc. | 2.12% | 250,614 | $8.8M | Reduce -2.5% |
| VTR Ventas Inc. | 2.12% | 137,446 | $8.8M | Reduce -2.4% |
| DLR Digital Realty Trust Inc. | 2.11% | 54,413 | $8.8M | Reduce -3.2% |
| MELI MercadoLibre Inc. | 2.02% | 4,107 | $8.4M | Reduce -29.2% |
| USFD US Foods Holding Corp. | 2.00% | 135,751 | $8.3M | Reduce -45.8% |
| SPGI S&P Global Inc. | 1.95% | 15,685 | $8.1M | Reduce -19.6% |
| TOST Toast Inc. Class A | 1.87% | 274,392 | $7.8M | Add +7.6% |
| CPNG Coupang Inc. | 1.72% | 292,008 | $7.2M | New |
| SHW The Sherwin-Williams Co. | 1.67% | 18,226 | $7.0M | New |
| XLP SS Consumer Staples Sel Sect | 1.29% | 64,860 | $5.4M | Reduce -51.0% |
| PM Philip Morris International | 1.24% | 42,422 | $5.2M | New |
| SNDA Sonida Senior Living Inc. | 1.19% | 185,000 | $4.9M | New |
Portfolio Sells Q2 2024 → Q3 2024
| CRM Salesforce Inc. | Sold out | 0.00% | −3.34 |
| INTU Intuit Inc. | Sold out | 0.00% | −2.34 |
| GTM Zoominfo Technologies Inc. | Sold out | 0.00% | −2.33 |
| PLNT Planet Fitness Inc. Class A | Sold out | 0.00% | −1.55 |
| USFD US Foods Holding Corp. | Reduce -45.8% | 2.00% | −1.07 |
| XLP SS Consumer Staples Sel Sect | Reduce -51.0% | 1.29% | −1.05 |
| AMZN Amazon.com Inc. | Reduce -17.8% | 4.40% | −0.96 |
| V Visa Inc. Class A | Reduce -30.1% | 2.84% | −0.90 |
| PCOR Procore Technologies Inc. | Reduce -18.2% | 3.21% | −0.86 |
| GIL Gildan Activewear Inc. | Reduce -41.6% | 2.35% | −0.78 |
| MSFT Microsoft Corp. | Reduce -12.8% | 4.36% | −0.65 |
| GE General Electric | Reduce -25.5% | 3.91% | −0.36 |
| XLV SS Health Care Select Sector | Reduce -18.4% | 2.84% | −0.34 |
| META Meta Platforms Inc. Class A | Reduce -21.5% | 3.22% | −0.27 |
| CRH CRH PLC | Reduce -28.3% | 2.37% | −0.21 |
| MELI MercadoLibre Inc. | Reduce -29.2% | 2.02% | −0.19 |
| SPGI S&P Global Inc. | Reduce -19.6% | 1.95% | −0.07 |
| INVH Invitation Homes Inc. | Reduce -2.5% | 2.12% | −0.02 |
| AMH American Homes 4 Rent- A | Reduce -2.6% | 2.26% | +0.09 |
| DLR Digital Realty Trust Inc. | Reduce -3.2% | 2.11% | +0.13 |
| VMRK Vivmark Residential | Reduce -2.3% | 2.51% | +0.20 |
| EGP Eastgroup Properties Inc. | Reduce -2.6% | 2.21% | +0.22 |
| COLD Americold Realty Trust Inc. | Reduce -2.5% | 2.18% | +0.23 |
| IRT Independence Realty Trust Inc. | Reduce -2.5% | 2.57% | +0.25 |
| IVT Inventrust Properties Corp. | Reduce -2.2% | 2.29% | +0.32 |
| CPT Camden Property Trust | Reduce -2.4% | 2.59% | +0.33 |
| AMT American Tower Corp. | Reduce -3.3% | 2.17% | +0.36 |
| PLD Prologis Inc. | Reduce -2.2% | 3.04% | +0.37 |
| VTR Ventas Inc. | Reduce -2.4% | 2.12% | +0.44 |
| BRX Brixmor Property Group Inc. | Reduce -2.2% | 2.88% | +0.53 |
| EQIX Equinix Inc. | Reduce -2.8% | 3.53% | +0.54 |
| WELL Welltower Inc. | Reduce -2.7% | 3.12% | +0.60 |
Portfolio Buys Q2 2024 → Q3 2024
| LLYVK Liberty Media Corp.-Liberty-C | New | 2.45% | +2.45 |
| GWRE Guidewire Software Inc. | Add +62.0% | 3.95% | +2.18 |
| CPNG Coupang Inc. | New | 1.72% | +1.72 |
| SHW The Sherwin-Williams Co. | New | 1.67% | +1.67 |
| PM Philip Morris International | New | 1.24% | +1.24 |
| SNDA Sonida Senior Living Inc. | New | 1.19% | +1.19 |
| MTZ Mastec Inc. | Add +41.4% | 2.58% | +1.05 |
| SGI Somnigroup International Inc. | Add +4.9% | 2.69% | +0.54 |
| MCO Moody's Corp. | Add +6.2% | 2.52% | +0.49 |
| TOST Toast Inc. Class A | Add +7.6% | 1.87% | +0.34 |
| GOOGL Alphabet Inc. Class A | Add +0.3% | 3.66% | −0.21 |
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 |