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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
+12.02%
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
$638M
AUM Growth
+$77.5M
Cap. Flow
+$26M
Cap. Flow %
4.07%
Top 10 Hldgs %
57.4%
Holding
40
New
7
Increased
8
Reduced
14
Closed
11

Top Buys

Rank Stock Value
1
PFPT
Proofpoint, Inc.
PFPT
+$21.3M
2
FWONK icon
Liberty Media Series C
FWONK
+$20.6M
3
BKNG icon
Booking.com
BKNG
+$19.9M
4
GRUB
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
+$14.8M
5
QIHU
QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS
QIHU
+$11.5M

Top Sells

Rank Stock Value
1
BIDU icon
Baidu
BIDU
+$20.5M
2
SSTK icon
Shutterstock
SSTK
+$15.5M
3
MNDT
Mandiant, Inc. Common Stock
MNDT
+$14.1M
4
LYV icon
Live Nation Entertainment
LYV
+$13.6M
5
MKTO
MARKETO INC COM STK (DE)
MKTO
+$12.1M

Sector Composition

Rank Sector Weight
1 Communication Services 38.53%
2 Technology 28.7%
3 Consumer Discretionary 15.81%
4 Real Estate 4.78%
5 Industrials 2.61%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
QIHU
26
DELISTED
QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS
QIHU
$10.8M 1.7%
+211,375
New +$11.5M
SIRI icon
27
SiriusXM
SIRI
$9.65B
$8.77M 1.37%
229,584
-1,476
-0.6% -$55.4K
WUBA
28
DELISTED
58.com Inc
WUBA
$7.87M 1.23%
148,873
-255,427
-63% -$10.8M
QUOT
29
DELISTED
Quotient Technology Inc
QUOT
$6.91M 1.08%
+588,667
New +$7.67M
BIDU icon
30
Baidu
BIDU
$31.4B
– –
-90,000
Closed -$20.5M
CCI icon
31
Crown Castle
CCI
$32.6B
– –
-100,000
Closed -$7.87M
GDX icon
32
PUT
VanEck Gold Miners ETF
GDX
$31.6B
– –
-250,000
Closed -$3.66M
LYV icon
33
Live Nation Entertainment
LYV
$43.1B
– –
-520,000
Closed -$13.6M
OLED icon
34
Universal Display
OLED
$3.92B
– –
-302,325
Closed -$8.39M
SSTK icon
35
Shutterstock
SSTK
$201M
– –
-225,000
Closed -$15.5M
SWKS icon
36
Skyworks Solutions
SWKS
$9.99B
– –
-130,000
Closed -$9.45M
NEWR
37
DELISTED
New Relic, Inc.
NEWR
– –
-20,000
Closed -$697K
JMEI
38
DELISTED
Jumei International Holding Limited American depositary shares, each representing ten Class A ordina
JMEI
– –
-66,186
Closed -$9.01M
HDP
39
DELISTED
Hortonworks, Inc.
HDP
– –
-15,000
Closed -$405K
MKTO
40
DELISTED
MARKETO INC COM STK (DE)
MKTO
– –
-370,600
Closed -$12.1M
1
2

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Glen Kacher's Q1 2015 Portfolio in Review

As of Q1 2015, Glen Kacher held 40 positions worth $638M, up 14% from $561M the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Glen Kacher deployed $26M of net new capital in Q1 2015, opening 7 new positions and adding to 8 existing holdings. Its largest new stake was Proofpoint, Inc.: 395,208 shares worth $23.4M.

By sector, the portfolio is most concentrated in Communication Services at 39% of assets, down from 45% a quarter earlier, followed by Technology and Consumer Discretionary.

On the sell side, the largest reduction was Mandiant, Inc. Common Stock, an estimated $14.1M trimmed.

  • Glen Kacher's largest Q1 2015 buy was Proofpoint, Inc.: 395,208 shares worth $23.4M.
  • Glen Kacher added most to Booking.com in Q1 2015, an estimated $19.9M increase.
  • Glen Kacher's biggest Q1 2015 reduction was Mandiant, Inc. Common Stock, cutting an estimated $14.1M.
  • Glen Kacher fully exited Baidu in Q1 2015, selling an estimated $20.5M.
  • Glen Kacher's ten largest holdings make up 57% of its $638M portfolio in Q1 2015.
  • Glen Kacher opened 7 new positions and closed 11 in Q1 2015.
  • Glen Kacher's portfolio value rose 14% quarter-over-quarter to $638M.

Based on Light Street Capital Management's 13F filing for Q1 2015, filed 15 May 2015.