Skip to content
Disclosery

MAKENA CAPITAL MANAGEMENT LLC

Follow

13F filer, CIK 1359262, MENLO PARK, CA

MAKENA CAPITAL MANAGEMENT LLC reported $866,074,070 across 27 holdings for the quarter ended 2026-03-31, in a 13F-HR filed 2026-05-11. Its ten largest share positions make up 69.84% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001359262-26-000004

Period
2026-03-31
Reported value
$866M
Holdings
27
Top 10 weight
69.84%
New
3
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
VOOadded+40,800$24.4M
NVDAnew+106,176$18.5M
JCInew+113,237$14.8M
IEFAadded+143,540$13M
GWREadded+61,328$9.17M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
FERGexited-87,063-$19.4M
USFDexited-223,384-$16.8M
MTZreduced-23,198-$7.46M
MSFTreduced-14,256-$5.28M
LLYVKreduced-39,567-$3.72M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2026

Share positions as resolved from 13F-HR 0001359262-26-000004, largest first. % of portfolio is the value over $866,074,070, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
VOOVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 284,856 shares; 2025Q1: 749,448 shares; 2025Q2: 606,092 shares; 2025Q3: 509,758 shares; 2025Q4: 401,937 shares; 2026Q1: 442,737 shares 442,737$265M30.55%+40,800Timeline
IEFAISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 677,930 shares; 2025Q1: 1,536,041 shares; 2025Q2: 1,322,675 shares; 2025Q3: 1,167,110 shares; 2025Q4: 934,336 shares; 2026Q1: 1,077,876 shares 1,077,876$97.6M11.27%+143,540Timeline
IEMGISHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 395,439 shares; 2025Q1: 965,274 shares; 2025Q2: 779,675 shares; 2025Q3: 723,846 shares; 2025Q4: 578,596 shares; 2026Q1: 692,123 shares 692,123$48.3M5.57%+113,527Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 98,317 shares; 2024Q4: 101,237 shares; 2025Q1: 156,808 shares; 2025Q2: 175,877 shares; 2025Q3: 173,410 shares; 2025Q4: 147,183 shares; 2026Q1: 147,183 shares 147,183$30.7M3.54%0Timeline
GWREGUIDEWIRE SOFTWARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 89,967 shares; 2024Q4: 79,855 shares; 2025Q1: 128,288 shares; 2025Q2: 119,525 shares; 2025Q3: 137,843 shares; 2025Q4: 139,315 shares; 2026Q1: 200,643 shares 200,643$30M3.46%+61,328Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 123,589 shares; 2025Q3: 92,949 shares; 2025Q4: 84,495 shares; 2026Q1: 83,726 shares 83,726$28.3M3.27%-769Timeline
VEEVVEEVA SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 75,637 shares; 2025Q3: 87,273 shares; 2025Q4: 113,799 shares; 2026Q1: 155,298 shares 155,298$27.3M3.15%+41,499Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 43,010 shares; 2024Q4: 46,340 shares; 2025Q1: 67,589 shares; 2025Q2: 74,051 shares; 2025Q3: 94,491 shares; 2025Q4: 80,424 shares; 2026Q1: 90,061 shares 90,061$27.2M3.14%+9,637Timeline
XLVSELECT SECTOR SPDR TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 76,811 shares; 2024Q4: 109,887 shares; 2025Q1: 178,487 shares; 2025Q2: 224,158 shares; 2025Q3: 235,409 shares; 2025Q4: 182,397 shares; 2026Q1: 173,873 shares 173,873$25.5M2.94%-8,524Timeline
MTZMASTEC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 87,146 shares; 2024Q4: 78,707 shares; 2025Q1: 175,618 shares; 2025Q2: 151,806 shares; 2025Q3: 122,085 shares; 2025Q4: 102,423 shares; 2026Q1: 79,225 shares 79,225$25.5M2.94%-23,198Timeline
LLYVKLIBERTY LIVE HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 269,418 shares; 2026Q1: 229,851 shares 229,851$21.6M2.5%-39,567Timeline
MCOMOODYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 22,072 shares; 2024Q4: 25,954 shares; 2025Q1: 47,665 shares; 2025Q2: 57,185 shares; 2025Q3: 66,619 shares; 2025Q4: 38,598 shares; 2026Q1: 49,058 shares 49,058$21.4M2.47%+10,460Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 42,239 shares; 2024Q4: 49,823 shares; 2025Q1: 83,385 shares; 2025Q2: 78,159 shares; 2025Q3: 74,517 shares; 2025Q4: 70,000 shares; 2026Q1: 55,744 shares 55,744$20.6M2.38%-14,256Timeline
CRHCRH PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 106,482 shares; 2024Q4: 111,136 shares; 2025Q1: 156,299 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 132,428 shares; 2026Q1: 188,799 shares 188,799$19.8M2.29%+56,371Timeline
SPGIS&P GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 15,685 shares; 2024Q4: 18,632 shares; 2025Q1: 35,141 shares; 2025Q2: 40,444 shares; 2025Q3: 52,155 shares; 2025Q4: 32,469 shares; 2026Q1: 46,029 shares 46,029$19.6M2.26%+13,560Timeline
GEGE AEROSPACEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 86,422 shares; 2024Q4: 97,833 shares; 2025Q1: 143,846 shares; 2025Q2: 126,218 shares; 2025Q3: 86,136 shares; 2025Q4: 72,847 shares; 2026Q1: 66,763 shares 66,763$18.9M2.19%-6,084Timeline
SGISOMNIGROUP INTERNATIONAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 205,205 shares; 2024Q4: 260,973 shares; 2025Q1: 413,736 shares; 2025Q2: 410,797 shares; 2025Q3: 345,354 shares; 2025Q4: 218,934 shares; 2026Q1: 251,222 shares 251,222$18.6M2.14%+32,288Timeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 106,176 shares 106,176$18.5M2.14%newTimeline
PCORPROCORE TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 216,899 shares; 2024Q4: 119,801 shares; 2025Q1: 128,454 shares; 2025Q2: 175,233 shares; 2025Q3: 173,104 shares; 2025Q4: 232,527 shares; 2026Q1: 320,681 shares 320,681$18.3M2.11%+88,154Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 91,834 shares; 2024Q4: 105,566 shares; 2025Q1: 159,988 shares; 2025Q2: 104,925 shares; 2025Q3: 77,294 shares; 2025Q4: 54,435 shares; 2026Q1: 61,488 shares 61,488$17.7M2.04%+7,053Timeline
CPNGCOUPANG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 292,008 shares; 2024Q4: 510,878 shares; 2025Q1: 842,277 shares; 2025Q2: 861,271 shares; 2025Q3: 591,989 shares; 2025Q4: 691,386 shares; 2026Q1: 882,766 shares 882,766$16.7M1.92%+191,380Timeline
JCIJOHNSON CONTROLS INTERNATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 113,237 shares 113,237$14.8M1.71%newTimeline
XLPSELECT SECTOR SPDR TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 64,860 shares; 2024Q4: 77,862 shares; 2025Q1: 123,477 shares; 2025Q2: 144,483 shares; 2025Q3: 157,643 shares; 2025Q4: 151,503 shares; 2026Q1: 152,348 shares 152,348$12.5M1.44%+845Timeline
FSLRFIRST SOLAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 43,539 shares; 2026Q1: 57,851 shares 57,851$11.4M1.32%+14,312Timeline
SNDASONIDA SENIOR LIVING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 185,000 shares; 2024Q4: 185,000 shares; 2025Q1: 185,000 shares; 2025Q2: 185,000 shares; 2025Q3: 185,000 shares; 2025Q4: 185,000 shares; 2026Q1: 185,000 shares 185,000$5.97M0.69%0Timeline
MDLNMEDLINE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 93,949 shares 93,949$4.18M0.48%newTimeline
FIGFIGMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 28,113 shares; 2026Q1: 28,113 shares 28,113$594K0.07%0Timeline

Sold out in Q1 2026

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
FERGFERGUSON ENTERPRISES INC87,063$19.4Mshares
USFDUS FOODS HLDG CORP223,384$16.8Mshares

How Q1 2026 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001359262-26-000004 base2026-05-11acceptance time not in the bulk data set