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Q2 2026 13F · SEC CIK 1359262

Makena Capital Management LLC

Hedge fundFiled 2026-08-10 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value
$951.8M
Reported positions
26
Top holdings a year, 3 yrs
+24.8%
Assets under management
$24.3B

Makena Capital Management LLC is a hedge fund that reported 26 positions worth $951.8M in its Q2 2026 13F, filed 2026-08-10. Its largest holdings were Vanguard S&p 500 ETF (VOO, 30.5%), Ishares Core Msci Eafe ETF (IEFA, 10.3%), Ishares (IEMG, 5.1%). A portfolio copying its top holdings returned 24.8% a year over the last 3 years, against 20.4% for the S&P 500.

Makena Capital Management LLC holdings all 26 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Makena Capital Management LLC 13F holdings
Stock% of 13F valueShare changeReported value
VOOVanguard S&p 500 ETF30.5%-4.6%$290.0M
IEFAIshares Core Msci Eafe ETF10.3%-5.6%$98.3M
IEMGIshares5.1%-14.7%$48.9M
VEEVVeeva Sys Inc3.8%+30.4%$35.9M
GWREGuidewire Software Inc3.7%+41.0%$34.8M
TSMTaiwan Semiconductor Manufac3.6%-14.7%$34.1M
XLVSelect Sector Spdr Tr3.3%+13.4%$31.3M
VVisa Inc Com Cl A3.3%+0.2%$31.0M
AMZNAmazon Com Inc Com3.3%-11.8%$30.9M
MCOMoodys Corp2.8%+21.6%$27.0M
LLYVKLiberty Media Corp-Liberty Liv2.7%+4.3%$25.3M
MTZMastec Inc2.6%-23.7%$25.2M
GEGe Aerospace2.6%+0.7%$25.1M
MELIMercadolibre Inc2.6%—$24.5M
SPGIS&P Global Inc.2.4%+20.8%$22.6M
CRHCrh PLC2.3%+9.0%$22.0M
PCORProcore Technologies Inc2.1%+55.2%$20.2M
CPNGCoupang Inc2.0%+24.2%$19.0M
NVDANvidia Corporation Com2.0%-10.8%$19.0M
GOOGLAlphabet Inc2.0%-14.4%$18.8M
NYTNew York Times Co Mtn Be1.7%—$16.4M
JCIJohnson Controls Internation1.6%-8.1%$15.2M
FSLRFirst Solar Inc Com1.4%+0.0%$13.7M
XLPState Street Consumer Staples Select Sec1.2%-11.5%$11.2M
SNDASonida Senior Living Inc0.8%+0.0%$7.5M
MDLNMedline Inc0.4%+2.9%$3.8M

What Makena Capital Management LLC bought and sold in Q2 2026, against Q1 2026.

New positions

Added to

Reduced

Sold out

Share counts compared with the Q1 2026 13F; a split also changes share counts.

How the holdings did against the S&P 500.

1 year
+17.4% /yr
S&P 500 +20.1%
3 years
+24.8% /yr
S&P 500 +20.4%
5 years
+11.4% /yr
S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter13F valuePositions
Q2 2026$951.8M26
Q1 2026$866.1M27
Q4 2025$834.5M26
Q3 2025$968.5M24
Q2 2025$998.3M24
Q1 2025$968.7M25
Q4 2024$616.5M41
Q3 2024$416.4M39
Q2 2024$431.6M38
Q1 2024$429.6M39
Q4 2023$441.5M41
Q3 2023$467.1M40

Questions about Makena Capital Management LLC's portfolio

What stocks does Makena Capital Management LLC own?

Makena Capital Management LLC's latest 13F, for Q2 2026 and filed Aug 10, 2026, lists 26 positions worth $951.8M. The largest are Vanguard S&p 500 ETF (VOO) at 30.5%, Ishares Core Msci Eafe ETF (IEFA) at 10.3%, Ishares (IEMG) at 5.1%, Veeva Sys Inc (VEEV) at 3.8% and Guidewire Software Inc (GWRE) at 3.7%.

What did Makena Capital Management LLC buy last quarter?

In Q2 2026, Makena Capital Management LLC added a new position in Mercadolibre Inc (MELI), a new position in New York Times Co Mtn Be (NYT), Procore Technologies Inc (PCOR) (+55.2% shares), Guidewire Software Inc (GWRE) (+41.0% shares) and Veeva Sys Inc (VEEV) (+30.4% shares), compared with its Q1 2026 filing.

What did Makena Capital Management LLC sell last quarter?

In Q2 2026, Makena Capital Management LLC sold all of Microsoft Corp (MSFT), sold all of Somnigroup International Inc (TPX), sold all of Figma Inc (FIG), Mastec Inc (MTZ) (-23.7% shares), Ishares (IEMG) (-14.7% shares) and Taiwan Semiconductor Manufac (TSM) (-14.7% shares), compared with its Q1 2026 filing.

How has Makena Capital Management LLC's portfolio performed?

A portfolio copying Makena Capital Management LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +24.8% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +17.4% against +20.1%. Over 5 years: +11.4% a year against +11.6%.

When is Makena Capital Management LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. Makena Capital Management LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Makena Capital Management LLC manage?

Makena Capital Management LLC reported $24.3B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $951.8M.