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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
+13.42%
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
$1.47B
AUM Growth
+$36.1M
Cap. Flow
-$129M
Cap. Flow %
-8.81%
Top 10 Hldgs %
76.88%
Holding
29
New
4
Increased
10
Reduced
6
Closed
6

Top Buys

Rank Stock Value
1
MOMO
Hello Group
MOMO
+$42.1M
2
FTCH
Farfetch Limited Class A Ordinary Shares
FTCH
+$41.2M
3
MSGS icon
Madison Square Garden
MSGS
+$37.8M
4
TTWO icon
Take-Two Interactive
TTWO
+$33M
5
OLED icon
Universal Display
OLED
+$25.3M

Top Sells

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$61.2M
2
SFIX
Stitch Fix
SFIX
+$52.1M
3
NVDA icon
NVIDIA
NVDA
+$51.7M
4
MTCH icon
Match Group
MTCH
+$32.9M
5
PAGS icon
PagSeguro Digital
PAGS
+$32.6M

Sector Composition

Rank Sector Weight
1 Communication Services 31%
2 Technology 23.63%
3 Consumer Discretionary 20.74%
4 Industrials 2.71%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
META icon
26
Meta Platforms (Facebook)
META
$1.42T
– –
-139,012
Closed -$27M
MTCH icon
27
Match Group
MTCH
$9.5B
– –
-850,000
Closed -$32.9M
ZUO
28
DELISTED
Zuora, Inc.
ZUO
– –
-40,000
Closed -$1.09M
PS
29
DELISTED
Pluralsight, Inc. Class A Common Stock
PS
– –
-485,646
Closed -$11.9M
1
2

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Glen Kacher's Q3 2018 Portfolio in Review

As of Q3 2018, Glen Kacher held 29 positions worth $1.47B, up 2.5% from $1.43B the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Glen Kacher withdrew a net $129M in Q3 2018, closing 6 positions and reducing 6 holdings. Its most notable exit was Match Group, an estimated $32.9M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 31% of assets, up from 27% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, Glen Kacher opened a new position in Hello Group worth $42.2M.

  • Glen Kacher's largest Q3 2018 buy was Hello Group: 962,837 shares worth $42.2M.
  • Glen Kacher added most to Madison Square Garden in Q3 2018, an estimated $37.8M increase.
  • Glen Kacher's biggest Q3 2018 reduction was Alibaba, cutting an estimated $61.2M.
  • Glen Kacher fully exited Match Group in Q3 2018, selling an estimated $32.9M.
  • Glen Kacher's ten largest holdings make up 77% of its $1.47B portfolio in Q3 2018.
  • Glen Kacher opened 4 new positions and closed 6 in Q3 2018.
  • Glen Kacher's portfolio value rose 2.5% quarter-over-quarter to $1.47B.

Based on Light Street Capital Management's 13F filing for Q3 2018, filed 14 Nov 2018.