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Glen Kacher Light Street Capital Management
AUM
$903M
Turnover
37.5%
1-Year Est. Return
113.12%
Glen Kacher is the founder of Light Street Capital Management, a long/short equity firm focused on technology and disruptive innovation. The firm emphasizes fundamental research into software, internet, and semiconductor-related businesses. Kacher’s portfolio is followed by investors tracking technology-specialist hedge funds.
This Fund
S&P 500
This Quarter Est. Return
+77.08%
1 Year Est. Return
+113.12%
3 Year Est. Return
+377.35%
5 Year Est. Return
+361.17%
10 Year Est. Return
+6,155.11%
AUM
$903M
AUM Growth
+$369M
(+69%)
Cap. Flow
+$80.7M
Cap. Flow % of AUM
Cap. Flow %
8.94%
Top 10 Holdings %
Top 10 Hldgs %
65.47%
Holding
32
New
8
Increased
11
Reduced
7
Closed
4
Avg Time Held
Equity + Options
1.3
years
Top 10 Avg Time Held
Equity + Options
1.3
years
Top 20 Avg Time Held
Equity + Options
1.3
years
Avg Time Held Equity only
1.3
years
Top 10 Avg Time Held Equity only
1.5
years
Top 20 Avg Time Held Equity only
1.4
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Astera Labs
ALAB
|
+$33.4M |
| 2 |
Toast
TOST
|
+$30.4M |
| 3 |
Reddit
RDDT
|
+$29.2M |
| 4 |
Mercado Libre
MELI
|
+$21.8M |
| 5 |
GitLab
GTLB
|
+$19.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Advanced Micro Devices
AMD
|
+$45M |
| 2 |
NVIDIA
NVDA
|
+$27.9M |
| 3 |
BILL Holdings
BILL
|
+$23.9M |
| 4 |
Amazon
AMZN
|
+$18.5M |
| 5 |
Samsara
IOT
|
+$12.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 77.58% |
| 2 | Consumer Discretionary | 7.64% |
| 3 | Miscellaneous | 6.76% |
| 4 | Communication Services | 5.2% |
| 5 | Industrials | 2.82% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
TSMC
TSM
$2.14T
| $108M | 11.95% |
225,949
-1,636
| -0.7% | -$664K |
2023 Q1
13 quarters
|
|
|
2
Advanced Micro Devices
AMD
$863B
| $63.6M | 7.05% |
109,500
-109,751
| -50% | -$45M |
2022 Q4
14 quarters
|
|
|
3
Astera Labs
ALAB
$49.6B
| $60.7M | 6.73% |
+125,750
| New | +$33.4M |
2026 Q2
0 quarters
|
|
|
4
GitLab
GTLB
$8.79B
| $59.4M | 6.58% |
1,945,000
+775,000
| +66% | +$19.7M |
2024 Q3
7 quarters
|
|
5
Broadcom
AVGO
$1.57T
| $57.9M | 6.41% |
153,250
+3,450
| +2% | +$1.38M |
2023 Q3
11 quarters
|
|
|
6
PUT
TSMC
TSM
$2.14T
| $52.2M | 5.78% |
109,200
| – | – |
2026 Q1
1 quarter
|
|
7
Amkor Technology
AMKR
$10.4B
| $51.5M | 5.7% |
596,783
+189,793
| +47% | +$13.5M |
2025 Q4
2 quarters
|
|
8
JFrog
FROG
$10.4B
| $46.8M | 5.18% |
514,500
-60,500
| -11% | -$3.93M |
2023 Q1
13 quarters
|
|
9
MKS Inc
MKSI
$14.5B
| $46.2M | 5.11% |
103,800
-18,464
| -15% | -$5.78M |
2025 Q4
2 quarters
|
|
10
Chime Financial
CHYM
$11.2B
| $45M | 4.99% |
2,199,089
+121,474
| +6% | +$2.36M |
2025 Q2
4 quarters
|
|
11
Coupang
CPNG
$25.7B
| $35.2M | 3.9% |
2,025,000
+973,043
| +92% | +$17.6M |
2026 Q1
1 quarter
|
|
|
12
Toast
TOST
$18.3B
| $32.5M | 3.6% |
+1,167,500
| New | +$30.4M |
2026 Q2
0 quarters
|
|
|
13
Reddit
RDDT
$30B
| $31.7M | 3.51% |
+182,500
| New | +$29.2M |
2026 Q2
0 quarters
|
|
|
14
NVIDIA
NVDA
$5.17T
| $27.4M | 3.03% |
136,720
-135,494
| -50% | -$27.9M |
2022 Q4
14 quarters
|
|
15
Bloom Energy
BE
$65.2B
| $25.5M | 2.82% |
84,167
+33,542
| +66% | +$8.59M |
2026 Q1
1 quarter
|
|
16
ASML
ASML
$633B
| $21.8M | 2.41% |
10,957
+11
| +0.1% | +$17.5K |
2024 Q2
8 quarters
|
|
|
17
Mercado Libre
MELI
$93B
| $21.6M | 2.4% |
+12,750
| New | +$21.8M |
2026 Q2
0 quarters
|
|
18
Cellebrite
CLBT
$2.77B
| $19.2M | 2.12% |
1,312,755
+671,830
| +105% | +$8.88M |
2021 Q3
19 quarters
|
|
19
Snowflake
SNOW
$108B
| $17.8M | 1.97% |
+70,000
| New | +$12.9M |
2026 Q2
0 quarters
|
|
20
MongoDB
MDB
$27.2B
| $16.8M | 1.86% |
+50,000
| New | +$15M |
2026 Q2
0 quarters
|
|
21
Alphabet (Google) Class A
GOOGL
$4.17T
| $15.2M | 1.69% |
42,650
+150
| +0.4% | +$54K |
2025 Q3
3 quarters
|
|
|
22
Amazon
AMZN
$2.7T
| $12.2M | 1.35% |
51,000
-73,800
| -59% | -$18.5M |
2023 Q2
12 quarters
|
|
23
Datadog
DDOG
$88.7B
| $10.4M | 1.15% |
40,000
| – | – |
2026 Q1
1 quarter
|
|
24
Roundhill Memory ETF
DRAM
$21.8B
| $8.86M | 0.98% |
+120,000
| New | +$6.25M |
2026 Q2
0 quarters
|
|
25
NXP Semiconductors
NXPI
$57.8B
| $6.46M | 0.72% |
23,003
-2,497
| -10% | -$688K |
2024 Q2
8 quarters
|
|
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Glen Kacher's Q2 2026 Portfolio in Review
As of Q2 2026, Glen Kacher held 32 positions worth $903M, up 69% from $534M the previous quarter. Its ten largest holdings account for 65% of the portfolio.
Glen Kacher deployed $80.7M of net new capital in Q2 2026, opening 8 new positions and adding to 11 existing holdings. Its largest new stake was Astera Labs: 125,750 shares worth $60.7M.
By sector, the portfolio is most concentrated in Technology at 78% of assets, down from 81% a quarter earlier, followed by Consumer Discretionary and Miscellaneous.
On the sell side, the largest reduction was Advanced Micro Devices, an estimated $45M trimmed.
- Glen Kacher's largest Q2 2026 buy was Astera Labs: 125,750 shares worth $60.7M.
- Glen Kacher added most to GitLab in Q2 2026, an estimated $19.7M increase.
- Glen Kacher's biggest Q2 2026 reduction was Advanced Micro Devices, cutting an estimated $45M.
- Glen Kacher fully exited BILL Holdings in Q2 2026, selling an estimated $23.9M.
- Glen Kacher's ten largest holdings make up 65% of its $903M portfolio in Q2 2026.
- Glen Kacher opened 8 new positions and closed 4 in Q2 2026.
- Glen Kacher's portfolio value rose 69% quarter-over-quarter to $903M.
Based on Light Street Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.