Makena Capital Management LLC
Makena Capital Management LLC is a global investment manager headquartered in Menlo Park, California. Founded in 2005, it provides comprehensive investment management services, primarily to endowments, foundations, family offices, and sovereign wealth funds. The firm is an institutional asset manager with a focus on diversified, long-term, risk-adjusted strategies and employs over 80 professionals.
Investment Strategy
Makena Capital Management employs a diversified, multi-asset class investment approach, allocating capital globally across public and private markets. The firm emphasizes long-term capital appreciation, disciplined risk management, and strategic asset allocation, investing through a combination of equities, fixed income, venture capital, private equity, real assets, and absolute return strategies. Makena is known for leveraging a global network of premier investment managers and seeks to deliver superior risk-adjusted returns while maintaining a prudent risk profile.
Latest 13F Filing Activity
Makena Capital Management LLC filed their most recent 13F report on Jun 30, 2025 disclosing 23 equity positions with a total 13F market value of $998M. The fund increased holdings in Taiwan Semiconductor MFG LTD, Veeva SYS Inc., Amazon Com Inc. among other positions. Makena Capital Management LLC reduced exposure to Vanguard Index FDS, CRH PLC, Gildan Activewear Inc. among others.
Top Holdings
Equity Positions (23)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
V VOO | VANGUARD INDEX FDS | 34.49% | $344.3M | 606,092 | $523.37 | $568.03 | -$40.9M |
I IEFA | ISHARES TR | 11.05% | $110.3M | 1,322,675 | $73.28 | $83.48 | -$5.9M |
I IEMG | ISHARES INC | 4.69% | $46.8M | 779,675 | $53.25 | $60.03 | -$5.3M |
M MSFT | MICROSOFT CORP | 3.89% | $38.9M | 78,159 | $321.29 | $497.41 | +$7.6M |
A AMZN | AMAZON COM INC | 3.87% | $38.6M | 175,877 | $157.93 | $219.39 | +$8.8M |
Industry Allocation
Investment Team (11)
| Name | Role | Location | |
|---|---|---|---|
 | Investment Analyst | Killington, VT , United States | |
 | Chief Investment Officer | Palo Alto, CA , United States | |
 | Venture Capital Investment Analyst | Atherton, CA , United States | |
 | Investment Associate | Seattle, WA , United States | |
 | Incoming Investment Analyst | Stanford, CA , United States | |
 | Senior Associate | CA , United States | |
 | Private Equity Investment Analyst | CA , United States | |
 | Investment Associate | Menlo Park, CA , United States | |
 | Senior Investment Analyst | CA , United States | |
 | Incoming Investment Analyst | Boston, MA , United States |