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GK

Glen Kacher Light Street Capital Management

AUM $903M
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
+50.32%
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
$317M
AUM Growth
+$83.3M
Cap. Flow
-$4.53M
Cap. Flow %
-1.43%
Top 10 Hldgs %
50.81%
Holding
52
New
14
Increased
9
Reduced
15
Closed
12

Top Buys

Rank Stock Value
1
P
Pandora Media Inc
P
+$11.5M
2
BITA
Bitauto Holdings Limited
BITA
+$9.12M
3
META icon
Meta Platforms (Facebook)
META
+$8M
4
EJ
E HOUSE (CHINA) HOLDINGS LIMITED
EJ
+$6.64M
5
BIDU icon
Baidu
BIDU
+$5.8M

Top Sells

Rank Stock Value
1
QIHU
QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS
QIHU
+$10.5M
2
JOYY
JOYY Inc
JOYY
+$8.77M
3
EBAY icon
eBay
EBAY
+$5.95M
4
ADBE icon
Adobe
ADBE
+$5.25M
5
CHTR icon
Charter Communications
CHTR
+$4.95M

Sector Composition

Rank Sector Weight
1 Communication Services 33.91%
2 Technology 26.27%
3 Real Estate 23.55%
4 Consumer Discretionary 4.33%
5 Energy 4.22%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GRMN
26
Garmin
GRMN
$56.9B
$5.04M 1.59%
+111,583
New +$4.43M
ADBE icon
27
Adobe
ADBE
$109B
$3.64M 1.15%
70,000
-110,000
-61% -$5.25M
N
28
DELISTED
Netsuite Inc
N
$3.24M 1.02%
30,000
-20,000
-40% -$1.97M
PFPT
29
DELISTED
Proofpoint, Inc.
PFPT
$3.05M 0.96%
95,000
+5,000
+6% +$141K
AMD icon
30
Advanced Micro Devices
AMD
$773B
$2.71M 0.85%
+710,000
New +$2.7M
CNQR
31
DELISTED
CONCUR TECHNOLOGIES INC
CNQR
$2.53M 0.8%
22,896
-7,104
-24% -$692K
ZG icon
32
Zillow
ZG
$8.27B
$2.53M 0.8%
+90,000
New +$2.48M
VIPS icon
33
Vipshop
VIPS
$6.98B
$2.27M 0.72%
+400,000
New +$1.72M
DDD icon
34
3D Systems Corp
DDD
$530M
$1.89M 0.6%
+35,000
New +$1.73M
CVT
35
DELISTED
CVENT, INC.
CVT
$1.39M 0.44%
+39,500
New +$1.44M
SSYS icon
36
Stratasys
SSYS
$692M
$1.01M 0.32%
+10,000
New +$968K
GOGO icon
37
Gogo Inc
GOGO
$363M
$800K 0.25%
+45,000
New +$589K
BB icon
38
BlackBerry
BB
$4.71B
$795K 0.25%
100,000
– –
DANG
39
DELISTED
E-COMMERCE CHINA DANGDANG INC SPNSRD ADS REP COM CL A (CYM)
DANG
$478K 0.15%
45,595
-48,730
-52% -$431K
AWAY
40
DELISTED
HOMEAWAY INC COM
AWAY
$223K 0.07%
+7,963
New +$247K
AAPL icon
41
Apple
AAPL
$4.51T
– –
-280,000
Closed -$4.64M
CHTR icon
42
Charter Communications
CHTR
$17.9B
– –
-40,000
Closed -$4.95M
EBAY icon
43
eBay
EBAY
$46.3B
– –
-273,240
Closed -$5.95M
EQIX icon
44
Equinix
EQIX
$105B
– –
-12,500
Closed -$2.31M
GOOG icon
45
Alphabet (Google) Class C
GOOG
$4.18T
– –
-160,600
Closed -$3.52M
GRPN icon
46
Groupon
GRPN
$797M
– –
-27,500
Closed -$4.7M
MSFT icon
47
Microsoft
MSFT
$3.59T
– –
-125,000
Closed -$4.32M
PANW icon
48
Palo Alto Networks
PANW
$292B
– –
-435,000
Closed -$3.06M
QLYS icon
49
Qualys
QLYS
$6.3B
– –
-84,100
Closed -$1.36M
TRIP icon
50
TripAdvisor
TRIP
$1.17B
– –
-30,000
Closed -$1.83M
1
2
3

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TFM
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SG
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NCM
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Glen Kacher's Q3 2013 Portfolio in Review

As of Q3 2013, Glen Kacher held 52 positions worth $317M, up 36% from $234M the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Glen Kacher's Q3 2013 filing shows 14 new, 9 increased, 15 reduced and 12 closed positions. Its largest new stake was Pandora Media Inc: 560,000 shares worth $14.1M. The largest sale was QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS, an estimated $10.5M.

By sector, the portfolio is most concentrated in Communication Services at 34% of assets, up from 29% a quarter earlier, followed by Technology and Real Estate.

  • Glen Kacher's largest Q3 2013 buy was Pandora Media Inc: 560,000 shares worth $14.1M.
  • Glen Kacher added most to ServiceNow in Q3 2013, an estimated $4.6M increase.
  • Glen Kacher's biggest Q3 2013 reduction was QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS, cutting an estimated $10.5M.
  • Glen Kacher fully exited eBay in Q3 2013, selling an estimated $5.95M.
  • Glen Kacher's ten largest holdings make up 51% of its $317M portfolio in Q3 2013.
  • Glen Kacher opened 14 new positions and closed 12 in Q3 2013.
  • Glen Kacher's portfolio value rose 36% quarter-over-quarter to $317M.

Based on Light Street Capital Management's 13F filing for Q3 2013, filed 14 Nov 2013.