Glen Kacher Light Street Capital Management
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Netflix
NFLX
|
+$28.1M |
| 2 |
CRCM
CARE.COM, INC.
CRCM
|
+$26.8M |
| 3 |
Meta Platforms (Facebook)
META
|
+$24.1M |
| 4 |
PPLI
People Inc
PPLI
|
+$12.6M |
| 5 |
P
Pandora Media Inc
P
|
+$12.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
BITA
Bitauto Holdings Limited
BITA
|
+$18.7M |
| 2 |
AWAY
HOMEAWAY INC COM
AWAY
|
+$17.6M |
| 3 |
3D Systems Corp
DDD
|
+$14.5M |
| 4 |
FLTX
Fleetmatics Group PLC
FLTX
|
+$11.7M |
| 5 |
EJ
E HOUSE (CHINA) HOLDINGS LIMITED
EJ
|
+$10.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 47.4% |
| 2 | Technology | 18.23% |
| 3 | Real Estate | 13.42% |
| 4 | Consumer Discretionary | 13.12% |
| 5 | Energy | 1.43% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Myriad Genetics
MYGN
$306M
| $7.52M | 1.38% |
+220,000
| New | +$6.82M |
|
|
HIMX
27
Himax Technologies
HIMX
$2.41B
| $6.72M | 1.23% |
+583,124
| New | +$8.11M |
|
28
Rambus
RMBS
$9.9B
| $5.95M | 1.09% |
+553,588
| New | +$5.2M |
|
|
ENT
29
DELISTED
Global Eagle Entertainment Inc.
ENT
| $5.21M | 0.95% |
+13,195
| New | +$5.43M |
|
30
Workday
WDAY
$49.4B
| $3.79M | 0.69% |
41,435
-28,565
| -41% | -$2.72M |
|
31
ServiceNow
NOW
$133B
| $3.71M | 0.68% |
309,420
-190,640
| -38% | -$2.43M |
|
32
Criteo S.A.
CRTO
$855M
| $3.04M | 0.56% |
75,000
+56,971
| +316% | +$2.36M |
|
|
VNET
33
VNET Group
VNET
$1.91B
| $2.87M | 0.53% |
+100,000
| New | +$2.5M |
|
|
BITA
34
DELISTED
Bitauto Holdings Limited
BITA
| $2.85M | 0.52% |
79,510
-529,690
| -87% | -$18.7M |
|
|
MKTO
35
DELISTED
MARKETO INC COM STK (DE)
MKTO
| $2.78M | 0.51% |
+85,000
| New | +$3.37M |
|
|
FUEL
36
DELISTED
Rocket Fuel Inc.
FUEL
| $2.77M | 0.51% |
64,503
+54,297
| +532% | +$2.97M |
|
|
EBIX
37
DELISTED
Ebix Inc
EBIX
| $2.47M | 0.45% |
144,518
-17,748
| -11% | -$274K |
|
|
QUOT
38
DELISTED
Quotient Technology Inc
QUOT
| $1.24M | 0.23% |
+50,200
| New | +$1.36M |
|
|
DANG
39
DELISTED
E-COMMERCE CHINA DANGDANG INC SPNSRD ADS REP COM CL A (CYM)
DANG
| $718K | 0.13% |
+50,000
| New | +$601K |
|
|
AIXG
40
DELISTED
Aixtron SE
AIXG
| $489K | 0.09% |
+30,000
| New | +$482K |
|
41
CALL
Apple
AAPL
$4.51T
| – | – |
-708,400
| Closed | -$14.2M |
|
42
Advanced Micro Devices
AMD
$773B
| – | – |
-511,754
| Closed | -$1.98M |
|
43
BlackBerry
BB
$4.71B
| – | – |
-402,060
| Closed | -$2.99M |
|
44
Crown Castle
CCI
$32.1B
| – | – |
-130,037
| Closed | -$9.55M |
|
|
45
3D Systems Corp
DDD
$530M
| – | – |
-156,530
| Closed | -$14.5M |
|
46
Fortinet
FTNT
$113B
| – | – |
-1,066,925
| Closed | -$4.08M |
|
47
Liberty Media Series A
FWONA
$24.2B
| – | – |
-184,805
| Closed | -$4.8M |
|
48
Gogo Inc
GOGO
$363M
| – | – |
-53,319
| Closed | -$1.32M |
|
49
Live Nation Entertainment
LYV
$42.4B
| – | – |
-150,000
| Closed | -$2.96M |
|
50
Universal Display
OLED
$3.95B
| – | – |
-35,062
| Closed | -$1.21M |
|
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Glen Kacher's Q1 2014 Portfolio in Review
As of Q1 2014, Glen Kacher held 59 positions worth $546M, up 13% from $484M the previous quarter. Its ten largest holdings account for 57% of the portfolio.
Glen Kacher deployed $62M of net new capital in Q1 2014, opening 13 new positions and adding to 18 existing holdings. Its largest new stake was Netflix: 4,900,000 shares worth $24.6M.
By sector, the portfolio is most concentrated in Communication Services at 47% of assets, up from 33% a quarter earlier, followed by Technology and Real Estate.
On the sell side, the largest reduction was Bitauto Holdings Limited, an estimated $18.7M trimmed.
- Glen Kacher's largest Q1 2014 buy was Netflix: 4,900,000 shares worth $24.6M.
- Glen Kacher added most to Meta Platforms (Facebook) in Q1 2014, an estimated $24.1M increase.
- Glen Kacher's biggest Q1 2014 reduction was Bitauto Holdings Limited, cutting an estimated $18.7M.
- Glen Kacher fully exited HOMEAWAY INC COM in Q1 2014, selling an estimated $17.6M.
- Glen Kacher's ten largest holdings make up 57% of its $546M portfolio in Q1 2014.
- Glen Kacher opened 13 new positions and closed 19 in Q1 2014.
- Glen Kacher's portfolio value rose 13% quarter-over-quarter to $546M.
Based on Light Street Capital Management's 13F filing for Q1 2014, filed 15 May 2014.