Makena Capital Management LLC
Net buyer this quarter
$952M
21
+$16.5M
30.9%
Holdings
| Company | Value | % of portfolio | % of company | POSITION CHANGE qoq % | First reported |
|---|---|---|---|---|---|
| Q2 2026 | |||||
 VEEV | $35.9M | 3.77% | 0.12% | +30.4% | Q2 2025 |
 GWRE | $34.8M | 3.66% | 0.34% | +41.0% | Q2 2024 |
 TSM | $34.1M | 3.59% | 0.00% | -14.7% | Q2 2025 |
 V | $31M | 3.25% | 0.00% | +0.2% | Q4 2022 |
 AMZN | $30.9M | 3.25% | 0.00% | -11.8% | Q4 2019 |
 MCO | $27M | 2.84% | 0.03% | +21.6% | Q4 2023 |
 LLYVK | $25.3M | 2.66% | Not reported | +4.3% | Q3 2024 |
 MTZ | $25.2M | 2.64% | 0.08% | -23.7% | Q2 2024 |
 GE | $25.1M | 2.64% | 0.01% | +0.7% | Q3 2023 |
 MELI | $24.5M | 2.57% | 0.03% | Not reported | Q1 2021 |
 SPGI | $22.6M | 2.38% | 0.02% | +20.8% | Q4 2023 |
 CRH | $22M | 2.31% | 0.03% | +9.0% | Q4 2023 |
 PCOR | $20.2M | 2.12% | 0.33% | +55.2% | Q3 2023 |
 CPNG | $19M | 2.00% | Not reported | +24.2% | Q3 2024 |
 NVDA | $19M | 1.99% | 0.00% | -10.8% | Q1 2026 |
 GOOGL | $18.8M | 1.98% | 0.00% | -14.4% | Q4 2019 |
 NYT | $16.4M | 1.72% | Not reported | New | Q2 2026 |
 JCI | $15.2M | 1.60% | 0.02% | -8.1% | Q1 2026 |
 FSLR | $13.7M | 1.43% | 0.05% | Not reported | Q4 2025 |
 SNDA | $7.55M | 0.79% | 0.39% | Not reported | Q3 2024 |
 MDLN | $3.81M | 0.40% | Not reported | +2.9% | Q1 2026 |
| Q1 2026 | |||||
| AMZN | $30.7M | 3.54% | 0.00% | Not reported | Q4 2019 |
| GWRE | $30M | 3.46% | 0.24% | +44.0% | Q2 2024 |
| TSM | $28.3M | 3.27% | 0.00% | -0.9% | Q2 2025 |
| VEEV | $27.3M | 3.15% | 0.10% | +36.5% | Q2 2025 |
| V | $27.2M | 3.14% | 0.00% | +12.0% | Q4 2022 |
| MTZ | $25.5M | 2.94% | 0.10% | -22.7% | Q2 2024 |
| LLYVK | $21.6M | 2.50% | Not reported | -14.7% | Q3 2024 |
| MCO | $21.4M | 2.47% | 0.03% | +27.1% | Q4 2023 |
 MSFT | $20.6M | 2.38% | 0.00% | -20.4% | Q4 2019 |
| CRH | $19.8M | 2.29% | 0.03% | +42.6% | Q4 2023 |
| SPGI | $19.6M | 2.26% | 0.02% | +41.8% | Q4 2023 |
| GE | $18.9M | 2.19% | 0.01% | -8.4% | Q3 2023 |
 SGI | $18.6M | 2.14% | 0.12% | +14.8% | Q4 2019 |
| NVDA | $18.5M | 2.14% | 0.00% | New | Q1 2026 |
| PCOR | $18.3M | 2.11% | 0.21% | +37.9% | Q3 2023 |
| GOOGL | $17.7M | 2.04% | 0.00% | +13.0% | Q4 2019 |
| CPNG | $16.7M | 1.92% | Not reported | +27.7% | Q3 2024 |
| JCI | $14.8M | 1.71% | 0.02% | New | Q1 2026 |
| FSLR | $11.4M | 1.32% | 0.05% | +32.9% | Q4 2025 |
| SNDA | $5.97M | 0.69% | 0.39% | Not reported | Q3 2024 |
| MDLN | $4.18M | 0.48% | Not reported | New | Q1 2026 |
 FIG | $594K | 0.07% | Not reported | Not reported | Q4 2025 |
| Q4 2025 | |||||
| AMZN | $34M | 4.07% | 0.00% | -15.1% | Q4 2019 |
| MSFT | $33.9M | 4.06% | 0.00% | -6.1% | Q4 2019 |
| V | $28.2M | 3.38% | 0.00% | -14.9% | Q4 2022 |
| GWRE | $28M | 3.36% | 0.16% | +1.1% | Q2 2024 |
| TSM | $25.7M | 3.08% | 0.00% | -9.1% | Q2 2025 |
| VEEV | $25.4M | 3.04% | 0.07% | +30.4% | Q2 2025 |
| GE | $22.4M | 2.69% | 0.01% | -15.4% | Q3 2023 |
| LLYVK | $22.4M | 2.68% | Not reported | +2.8% | Q3 2024 |
| MTZ | $22.3M | 2.67% | 0.13% | -16.1% | Q2 2024 |
| MCO | $19.7M | 2.36% | 0.02% | -42.1% | Q4 2023 |
| SGI | $19.5M | 2.34% | 0.10% | -36.6% | Q4 2019 |
 FERG | $19.4M | 2.32% | 0.04% | +3.0% | Q3 2025 |
| GOOGL | $17M | 2.04% | 0.00% | -29.6% | Q4 2019 |
| SPGI | $17M | 2.03% | 0.01% | -37.8% | Q4 2023 |
| PCOR | $16.9M | 2.03% | 0.15% | +34.3% | Q3 2023 |
 USFD | $16.8M | 2.02% | 0.10% | -11.6% | Q4 2023 |
| CRH | $16.5M | 1.98% | 0.02% | Not reported | Q4 2023 |
| CPNG | $16.3M | 1.95% | Not reported | +16.8% | Q3 2024 |
| FSLR | $11.4M | 1.36% | 0.04% | New | Q4 2025 |
| SNDA | $6.03M | 0.72% | 0.99% | Not reported | Q3 2024 |
| FIG | $1.05M | 0.13% | Not reported | New | Q4 2025 |
| Q3 2025 | |||||
| MSFT | $38.6M | 3.99% | 0.00% | -4.7% | Q4 2019 |
| AMZN | $38.1M | 3.93% | 0.00% | -1.4% | Q4 2019 |
| V | $32.3M | 3.33% | 0.01% | +27.6% | Q4 2022 |
| MCO | $31.7M | 3.28% | 0.04% | +16.5% | Q4 2023 |
| GWRE | $31.7M | 3.27% | 0.16% | +15.3% | Q2 2024 |
| SGI | $29.1M | 3.01% | 0.16% | -15.9% | Q4 2019 |
| VEEV | $26M | 2.68% | 0.05% | +15.4% | Q2 2025 |
| MTZ | $26M | 2.68% | 0.15% | -19.6% | Q2 2024 |
| TSM | $26M | 2.68% | 0.00% | -24.8% | Q2 2025 |
| GE | $25.9M | 2.68% | 0.01% | -31.8% | Q3 2023 |
| LLYVK | $25.4M | 2.62% | Not reported | -19.4% | Q3 2024 |
| SPGI | $25.4M | 2.62% | 0.02% | +29.0% | Q4 2023 |
| USFD | $19.4M | 2.00% | 0.11% | +8.8% | Q4 2023 |
| CPNG | $19.1M | 1.97% | Not reported | -31.3% | Q3 2024 |
| FERG | $19M | 1.96% | 0.04% | New | Q3 2025 |
| GOOGL | $18.8M | 1.94% | 0.00% | -26.3% | Q4 2019 |
| PCOR | $12.6M | 1.30% | 0.12% | -1.2% | Q3 2023 |
 FLUT | $11.5M | 1.19% | 0.03% | New | Q3 2025 |
| SNDA | $5.13M | 0.53% | 0.98% | Not reported | Q3 2024 |