MAKENA CAPITAL MANAGEMENT LLC — 13F Holdings & Portfolio
CIK 1359262 · latest 13F-HR filed 2026-02-03
MAKENA CAPITAL MANAGEMENT LLC manages $834.5M in 13F-reported U.S. long-equity assets across 26 reported positions as of its 2025-12-31 13F-HR filing. Its largest disclosed positions are VOO (30.21%), IEFA (10.02%), IEMG (4.66%). Quarter over quarter (versus its 2025-09-30 filing) the fund opened 4 new positions, exited 2, added to 2, and trimmed 16.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$834.5M
Long-equity book
26
Distinct positions
2025-12-31
Filed 2026-02-03
+4 / −2 / ↑2 / ↓16
vs 2025-09-30
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- PROCORE TECHNOLOGIES INC$4.3M +34.0%
- SONIDA SENIOR LIVING INC$904.6K +17.6%
Top Trims
- VANGUARD INDEX FDS-$60.1M -19.3%
- ISHARES TR-$18.3M -18.0%
- MOODYS CORP-$12.0M -37.9%
- SOMNIGROUP INTERNATIONAL INC-$9.6M -32.9%
- ISHARES INC-$8.8M -18.5%
New Positions
- LIBERTY LIVE HOLDINGS INC$22.4M
- CRH PLC$16.5M
- FIRST SOLAR INC$11.4M
- FIGMA INC$1.1M
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | VANGUARD INDEX FDS | VOO | 922908363 | $252.1M | 30.21% | 401,937 | SH |
| 2 | ISHARES TR | IEFA | 46432F842 | $83.6M | 10.02% | 934,336 | SH |
| 3 | ISHARES INC | IEMG | 46434G103 | $38.9M | 4.66% | 578,596 | SH |
| 4 | AMAZON COM INC | AMZN | 023135106 | $34.0M | 4.07% | 147,183 | SH |
| 5 | MICROSOFT CORP | MSFT | 594918104 | $33.9M | 4.06% | 70,000 | SH |
| 6 | SELECT SECTOR SPDR TR | XLV | 81369Y209 | $28.2M | 3.38% | 182,397 | SH |
| 7 | VISA INC | V | 92826C839 | $28.2M | 3.38% | 80,424 | SH |
| 8 | GUIDEWIRE SOFTWARE INC | GWRE | 40171V100 | $28.0M | 3.36% | 139,315 | SH |
| 9 | TAIWAN SEMICONDUCTOR MFG LTD | TSM | 874039100 | $25.7M | 3.08% | 84,495 | SH |
| 10 | VEEVA SYS INC | VEEV | 922475108 | $25.4M | 3.04% | 113,799 | SH |
| 11 | GE AEROSPACE | GE | 369604301 | $22.4M | 2.69% | 72,847 | SH |
| 12 | LIBERTY LIVE HOLDINGS INC | LLYVK | 530909308 | $22.4M | 2.68% | 269,418 | SH |
| 13 | MASTEC INC | MTZ | 576323109 | $22.3M | 2.67% | 102,423 | SH |
| 14 | MOODYS CORP | MCO | 615369105 | $19.7M | 2.36% | 38,598 | SH |
| 15 | SOMNIGROUP INTERNATIONAL INC | SGI | 88023U101 | $19.5M | 2.34% | 218,934 | SH |
| 16 | FERGUSON ENTERPRISES INC | FERG | 31488V107 | $19.4M | 2.32% | 87,063 | SH |
| 17 | ALPHABET INC | GOOGL | 02079K305 | $17.0M | 2.04% | 54,435 | SH |
| 18 | S&P GLOBAL INC | SPGI | 78409V104 | $17.0M | 2.03% | 32,469 | SH |
| 19 | PROCORE TECHNOLOGIES INC | PCOR | 74275K108 | $16.9M | 2.03% | 232,527 | SH |
| 20 | US FOODS HLDG CORP | USFD | 912008109 | $16.8M | 2.02% | 223,384 | SH |
| 21 | CRH PLC | CRH | G25508105 | $16.5M | 1.98% | 132,428 | SH |
| 22 | COUPANG INC | CPNG | 22266T109 | $16.3M | 1.95% | 691,386 | SH |
| 23 | SELECT SECTOR SPDR TR | XLP | 81369Y308 | $11.8M | 1.41% | 151,503 | SH |
| 24 | FIRST SOLAR INC | FSLR | 336433107 | $11.4M | 1.36% | 43,539 | SH |
| 25 | SONIDA SENIOR LIVING INC | SNDA | 140475203 | $6.0M | 0.72% | 185,000 | SH |
| 26 | FIGMA INC | FIG | 316841105 | $1.1M | 0.13% | 28,113 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2025-12-31 | 2026-02-03 | $834.5M | 26 | 0001359262-26-000001 |
| 2025-09-30 | 2025-11-10 | $968.5M | 24 | 0001359262-25-000007 |