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 |
Pinterest
PINS
|
+$78.9M |
| 2 |
ATVI
Activision Blizzard
ATVI
|
+$61M |
| 3 |
ServiceNow
NOW
|
+$49.9M |
| 4 |
Alibaba
BABA
|
+$49.3M |
| 5 |
CrowdStrike
CRWD
|
+$47.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
WWE
World Wrestling Entertainment
WWE
|
+$74.8M |
| 2 |
NBIS
Nebius Group N.V.
NBIS
|
+$71.8M |
| 3 |
Mastercard
MA
|
+$42.1M |
| 4 |
FTCH
Farfetch Limited Class A Ordinary Shares
FTCH
|
+$37.4M |
| 5 |
WORK
Slack Technologies, Inc.
WORK
|
+$26M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 50.56% |
| 2 | Communication Services | 24.18% |
| 3 | Consumer Discretionary | 22.38% |
| 4 | Healthcare | 1.73% |
| 5 | Financials | 1.15% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Pinduoduo
PDD
$126B
| $14.7M | 0.88% |
+387,846
| New | +$14.5M |
|
|
GSUM
27
DELISTED
Gridsum Holding Inc.
GSUM
| $3.5M | 0.21% |
2,869,765
-75,665
| -3% | -$143K |
|
28
Spotify
SPOT
$110B
| $1.2M | 0.07% |
8,000
-7,986
| -50% | -$1.1M |
|
29
Chewy
CHWY
$9.83B
| – | – |
-800,000
| Closed | -$19.7M |
|
|
30
Mastercard
MA
$509B
| – | – |
-154,900
| Closed | -$42.1M |
|
31
The RealReal
REAL
$1.35B
| – | – |
-248,732
| Closed | -$5.56M |
|
32
Wayfair
W
$13.9B
| – | – |
-89,250
| Closed | -$10M |
|
|
NBIS
33
Nebius Group N.V.
NBIS
$59.6B
| – | – |
-2,049,621
| Closed | -$71.8M |
|
|
FTCH
34
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
| – | – |
-4,333,407
| Closed | -$37.4M |
|
|
WWE
35
DELISTED
World Wrestling Entertainment
WWE
| – | – |
-1,051,265
| Closed | -$74.8M |
|
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Glen Kacher's Q4 2019 Portfolio in Review
As of Q4 2019, Glen Kacher held 35 positions worth $1.67B, up 20% from $1.39B the previous quarter. Its ten largest holdings account for 61% of the portfolio.
Glen Kacher deployed $137M of net new capital in Q4 2019, opening 7 new positions and adding to 8 existing holdings. Its largest new stake was Activision Blizzard: 1,101,800 shares worth $65.5M.
By sector, the portfolio is most concentrated in Technology at 51% of assets, up from 35% a quarter earlier, followed by Communication Services and Consumer Discretionary.
On the sell side, the largest reduction was Slack Technologies, Inc., an estimated $26M trimmed.
- Glen Kacher's largest Q4 2019 buy was Activision Blizzard: 1,101,800 shares worth $65.5M.
- Glen Kacher added most to Pinterest in Q4 2019, an estimated $78.9M increase.
- Glen Kacher's biggest Q4 2019 reduction was Slack Technologies, Inc., cutting an estimated $26M.
- Glen Kacher fully exited World Wrestling Entertainment in Q4 2019, selling an estimated $74.8M.
- Glen Kacher's ten largest holdings make up 61% of its $1.67B portfolio in Q4 2019.
- Glen Kacher opened 7 new positions and closed 7 in Q4 2019.
- Glen Kacher's portfolio value rose 20% quarter-over-quarter to $1.67B.
Based on Light Street Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.