13F HOLDINGS REPORT
MAKENA CAPITAL MANAGEMENT LLC
Quarter ended Q4 2025 · Filed February 3, 2026 · Accession 0001359262-26-000001
Total Value
$834.5M
Positions
26
Other Managers
0
Confidential Omitted
No
Holdings (26)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | VANGUARD INDEX FDS | 922908363 | 401,937 | $252.1M | 30.21% |
| 2 | ISHARES TR | 46432F842 | 934,336 | $83.6M | 10.02% |
| 3 | ISHARES INC | 46434G103 | 578,596 | $38.9M | 4.66% |
| 4 | AMAZON COM INC | AMZN | 147,183 | $34.0M | 4.07% |
| 5 | MICROSOFT CORP | MSFT | 70,000 | $33.9M | 4.06% |
| 6 | SELECT SECTOR SPDR TR | 81369Y209 | 182,397 | $28.2M | 3.38% |
| 7 | VISA INC | V | 80,424 | $28.2M | 3.38% |
| 8 | GUIDEWIRE SOFTWARE INC | GWRE | 139,315 | $28.0M | 3.36% |
| 9 | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | 84,495 | $25.7M | 3.08% |
| 10 | VEEVA SYS INC | VEEV | 113,799 | $25.4M | 3.04% |
| 11 | GE AEROSPACE | 369604301 | 72,847 | $22.4M | 2.69% |
| 12 | LIBERTY LIVE HOLDINGS INC | LLYVK | 269,418 | $22.4M | 2.68% |
| 13 | MASTEC INC | MTZ | 102,423 | $22.3M | 2.67% |
| 14 | MOODYS CORP | MCO | 38,598 | $19.7M | 2.36% |
| 15 | SOMNIGROUP INTERNATIONAL INC | SGI | 218,934 | $19.5M | 2.34% |
| 16 | FERGUSON ENTERPRISES INC | FERG | 87,063 | $19.4M | 2.32% |
| 17 | ALPHABET INC | GOOG | 54,435 | $17.0M | 2.04% |
| 18 | S&P GLOBAL INC | SPGI | 32,469 | $17.0M | 2.03% |
| 19 | PROCORE TECHNOLOGIES INC | PCOR | 232,527 | $16.9M | 2.03% |
| 20 | US FOODS HLDG CORP | USFD | 223,384 | $16.8M | 2.02% |
| 21 | CRH PLC | CRH | 132,428 | $16.5M | 1.98% |
| 22 | COUPANG INC | CPNG | 691,386 | $16.3M | 1.95% |
| 23 | SELECT SECTOR SPDR TR | 81369Y308 | 151,503 | $11.8M | 1.41% |
| 24 | FIRST SOLAR INC | FSLR | 43,539 | $11.4M | 1.36% |
| 25 | SONIDA SENIOR LIVING INC | SNDA | 185,000 | $6.0M | 0.72% |
| 26 | FIGMA INC | FIG | 28,113 | $1.1M | 0.13% |