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 Index Fds (VOO, 30.5%), Ishares Tr (IEFA, 10.3%), Ishares Inc (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.
What Makena Capital Management LLC bought and sold in Q2 2026, against Q1 2026.
New positions
- MELI Mercadolibre Inc2.6% of 13F
- NYT New York Times Co Mtn Be1.7% of 13F
Added to
- PCOR Procore Technologies Inc+55.2% shares
- GWRE Guidewire Software Inc+41.0% shares
- VEEV Veeva Sys Inc+30.4% shares
- CPNG Coupang Inc+24.2% shares
- MCO Moodys Corp+21.6% shares
- SPGI S&p Global Inc+20.8% shares
- XLV Select Sector Spdr Tr+13.4% shares
- CRH Crh PLC+9.0% shares
Reduced
- MTZ MasTec Inc-23.7% shares
- IEMG Ishares Inc-14.7% shares
- TSM Taiwan Semiconductor Manufac-14.7% shares
- GOOGL Alphabet Inc-14.4% shares
- AMZN Amazon Com Inc-11.8% shares
- XLP Select Sector Spdr Tr-11.5% shares
- NVDA Nvidia Corporation-10.8% shares
- JCI Johnson Controls Internation-8.1% shares
Sold out
- MSFT Microsoft Corpwas 2.4%
- TPX Somnigroup International Incwas 2.1%
- FIG Figma Incwas 0.1%
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, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 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.
| Quarter | 13F value | Positions |
|---|---|---|
| Q2 2026 | $951.8M | 26 |
| Q1 2026 | $866.1M | 27 |
| Q4 2025 | $834.5M | 26 |
| Q3 2025 | $968.5M | 24 |
| Q2 2025 | $998.3M | 24 |
| Q1 2025 | $968.7M | 25 |
| Q4 2024 | $616.5M | 41 |
| Q3 2024 | $416.4M | 39 |
| Q2 2024 | $431.6M | 38 |
| Q1 2024 | $429.6M | 39 |
| Q4 2023 | $441.5M | 41 |
| Q3 2023 | $467.1M | 40 |
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 Index Fds (VOO) at 30.5%, Ishares Tr (IEFA) at 10.3%, Ishares Inc (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 Inc (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.