Latest MAKENA CAPITAL MANAGEMENT LLC Stock Portfolio

MAKENA CAPITAL MANAGEMENT LLC Performance:

2025 Q4: 0.91%YTD: 18%2024: 13.39%

Performance for 2025 Q4 is 0.91%, and YTD is 18%, and 2024 is 13.39%.

About MAKENA CAPITAL MANAGEMENT LLC and 13F Hedge Fund Stock Holdings

MAKENA CAPITAL MANAGEMENT LLC is a hedge fund based in Menlo Park, CA. On 2026-02-03, the fund reported it's updated stock portfolio. In the 13F Holdings report, MAKENA CAPITAL MANAGEMENT LLC reported an equity portfolio of $834.5 Millions as of 31 Dec, 2025.

The top stock holdings of MAKENA CAPITAL MANAGEMENT LLC are VB, IBCE, EMGF. The fund has invested 30.2% of it's portfolio in VANGUARD INDEX FDS and 10% of portfolio in ISHARES TR.

The fund managers got completely rid off LIBERTY MEDIA CORP DEL (BATRA) and FLUTTER ENTMT PLC stocks. They significantly reduced their stock positions in MOODYS CORP (MCO), S&P GLOBAL INC (SPGI) and SOMNIGROUP INTERNATIONAL INC (TPX). MAKENA CAPITAL MANAGEMENT LLC opened new stock positions in LIBERTY LIVE HOLDINGS INC, CRH PLC (CRH) and FIRST SOLAR INC (FSLR). The fund showed a lot of confidence in some stocks as they added substantially to PROCORE TECHNOLOGIES INC (PCOR), VEEVA SYS INC (VEEV) and COUPANG INC (CPNG).

MAKENA CAPITAL MANAGEMENT LLC Annual Return Estimates Vs S&P 500

Our best estimate is that MAKENA CAPITAL MANAGEMENT LLC made a return of 0.91% in the last quarter. In trailing 12 months, it's portfolio return was 18%.

Performance
S&P 500

New Buys

Ticker	$ Bought
liberty live holdings inc	22,404,800
crh plc	16,527,000
first solar inc	11,373,700
figma inc	1,050,580

New stocks bought by MAKENA CAPITAL MANAGEMENT LLC

Additions

Ticker	% Inc.
procore technologies inc	34.33
veeva sys inc	30.39
coupang inc	16.79
ferguson enterprises inc	2.95
guidewire software inc	1.07

Additions to existing portfolio by MAKENA CAPITAL MANAGEMENT LLC

Reductions

Ticker	% Reduced
moodys corp	-42.06
s&p global inc	-37.75
somnigroup international inc	-36.61
alphabet inc	-29.57
select sector spdr tr	-22.52
vanguard index fds	-21.15
ishares inc	-20.07
ishares tr	-19.94

MAKENA CAPITAL MANAGEMENT LLC reduced stake in above stock

Sold off

Ticker	$ Sold
liberty media corp del	-25,418,300
flutter entmt plc	-11,517,400

MAKENA CAPITAL MANAGEMENT LLC got rid off the above stocks

Sector Distribution

MAKENA CAPITAL MANAGEMENT LLC has about 57.9% of it's holdings in Others sector.

Sector	%
Others	57.9
Technology	10.8
Consumer Cyclical	8.4
Financial Services	7.8
Industrials	5.4
Healthcare	3.8
Consumer Defensive	2
Communication Services	2
Basic Materials	2

Market Cap. Distribution

MAKENA CAPITAL MANAGEMENT LLC has about 32.4% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
UNALLOCATED	59.9
LARGE-CAP	18.8
MEGA-CAP	13.6
MID-CAP	7

Stocks belong to which Index?

About 22% of the stocks held by MAKENA CAPITAL MANAGEMENT LLC either belong to S&P 500 or RUSSELL 2000 index.

Index	%
Others	78
S&P 500	22

Top 5 Winners (%)		%
GOOG	alphabet inc	24.5 %
SNDA	sonida senior living inc	17.6 %
XLB	select sector spdr tr	10.0 %
TSM	taiwan semiconductor mfg ltd	8.4 %
SPGI	s&p global inc	6.0 %

Top 5 Winners ($)		$
VB	vanguard index fds	6.7 M
GOOG	alphabet inc	4.6 M
XLB	select sector spdr tr	3.3 M
IBCE	ishares tr	2.3 M
TSM	taiwan semiconductor mfg ltd	2.2 M

Top 5 Losers (%)		%
CPNG	coupang inc	-25.3 %
VEEV	veeva sys inc	-22.8 %
GWRE	guidewire software inc	-12.5 %
MSFT	microsoft corp	-6.4 %
USFD	us foods hldg corp	-1.6 %

Top 5 Losers ($)		$
VEEV	veeva sys inc	-7.5 M
CPNG	coupang inc	-5.5 M
GWRE	guidewire software inc	-4.0 M
MSFT	microsoft corp	-2.5 M
USFD	us foods hldg corp	-0.3 M

MAKENA CAPITAL MANAGEMENT LLC Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of MAKENA CAPITAL MANAGEMENT LLC

MAKENA CAPITAL MANAGEMENT LLC has 26 stocks in it's portfolio. About 69.3% of the portfolio is in top 10 stocks. VEEV proved to be the most loss making stock for the portfolio. VB was the most profitable stock for MAKENA CAPITAL MANAGEMENT LLC last quarter.

Last Reported on: 03 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AMZN	amazon com inc	4.07	147,183	33,972,800	reduced	-15.12

BATRA	liberty media corp del	0.00	0.00	0.00	sold off	-100

CPNG	coupang inc	1.96	691,386	16,309,800	added	16.79

CRH	crh plc	1.98	132,428	16,527,000	new

EMGF	ishares inc	4.66	578,596	38,893,200	reduced	-20.07

FSLR	first solar inc	1.36	43,539	11,373,700	new

GE	ge aerospace	2.69	72,847	22,439,100	reduced	-15.43

GOOG	alphabet inc	2.04	54,435	17,038,200	reduced	-29.57

GWRE	guidewire software inc	3.36	139,315	28,003,700	added	1.07

IBCE	ishares tr	10.02	934,336	83,576,400	reduced	-19.94

MCO	moodys corp	2.36	38,598	19,717,800	reduced	-42.06

MSFT	microsoft corp	4.06	70,000	33,853,400	reduced	-6.06

MTZ	mastec inc	2.67	102,423	22,263,700	reduced	-16.11

PCOR	procore technologies inc	2.03	232,527	16,914,000	added	34.33

SNDA	sonida senior living inc	0.72	185,000	6,032,850	unchanged	0.00

SPGI	s&p global inc	2.03	32,469	16,968,000	reduced	-37.75

TPX	somnigroup international inc	2.34	218,934	19,546,400	reduced	-36.61

TSM	taiwan semiconductor mfg ltd	3.08	84,495	25,677,200	reduced	-9.1

USFD	us foods hldg corp	2.02	223,384	16,825,300	reduced	-11.59

V	visa inc	3.38	80,424	28,205,500	reduced	-14.89