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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
+43.79%
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
$410M
AUM Growth
+$142M
Cap. Flow
+$69.3M
Cap. Flow %
16.89%
Top 10 Hldgs %
68.23%
Holding
35
New
9
Increased
5
Reduced
6
Closed
12

Top Buys

Rank Stock Value
1
TSM icon
TSMC
TSM
+$34.2M
2
GTLB icon
GitLab
GTLB
+$24.8M
3
TSLA icon
Tesla
TSLA
+$23.8M
4
TWLO icon
Twilio
TWLO
+$20.7M
5
SE icon
Sea Limited
SE
+$19.4M

Top Sells

Rank Stock Value
1
ASML icon
ASML
ASML
+$19.6M
2
NFLX icon
Netflix
NFLX
+$19.3M
3
INTU icon
Intuit
INTU
+$16.1M
4
DDOG icon
Datadog
DDOG
+$14.4M
5
ACEL icon
Accel Entertainment
ACEL
+$13.1M

Sector Composition

Rank Sector Weight
1 Technology 73.89%
2 Consumer Discretionary 21.45%
3 Communication Services 4.07%
4 Healthcare 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CPNG icon
26
Coupang
CPNG
$29.6B
– –
-207,224
Closed -$3.05M
DCGO icon
27
DocGo
DCGO
$43M
– –
-1,076,922
Closed -$7.61M
DDOG icon
28
Datadog
DDOG
$84.6B
– –
-195,371
Closed -$14.4M
GOOGL icon
29
Alphabet (Google) Class A
GOOGL
$4.22T
– –
-9,088
Closed -$802K
INTU icon
30
Intuit
INTU
$100B
– –
-41,290
Closed -$16.1M
NFLX icon
31
Netflix
NFLX
$331B
– –
-655,300
Closed -$19.3M
SNOW icon
32
Snowflake
SNOW
$115B
– –
-56,700
Closed -$8.14M
UBER icon
33
Uber
UBER
$161B
– –
-35,643
Closed -$881K
WDAY icon
34
Workday
WDAY
$49.4B
– –
-65,144
Closed -$10.9M
ROVR
35
DELISTED
Rover Group, Inc. Class A Common Stock
ROVR
– –
-46,044
Closed -$169K
1
2

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Glen Kacher's Q1 2023 Portfolio in Review

As of Q1 2023, Glen Kacher held 35 positions worth $410M, up 53% from $268M the previous quarter. Its ten largest holdings account for 68% of the portfolio.

Glen Kacher deployed $69.3M of net new capital in Q1 2023, opening 9 new positions and adding to 5 existing holdings. Its largest new stake was TSMC: 381,489 shares worth $35.5M.

By sector, the portfolio is most concentrated in Technology at 74% of assets, down from 83% a quarter earlier, followed by Consumer Discretionary and Communication Services.

On the sell side, the largest reduction was Accel Entertainment, an estimated $13.1M trimmed.

  • Glen Kacher's largest Q1 2023 buy was TSMC: 381,489 shares worth $35.5M.
  • Glen Kacher added most to GitLab in Q1 2023, an estimated $24.8M increase.
  • Glen Kacher's biggest Q1 2023 reduction was Accel Entertainment, cutting an estimated $13.1M.
  • Glen Kacher fully exited ASML in Q1 2023, selling an estimated $19.6M.
  • Glen Kacher's ten largest holdings make up 68% of its $410M portfolio in Q1 2023.
  • Glen Kacher opened 9 new positions and closed 12 in Q1 2023.
  • Glen Kacher's portfolio value rose 53% quarter-over-quarter to $410M.

Based on Light Street Capital Management's 13F filing for Q1 2023, filed 15 May 2023.