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 |
WUBA
58.com Inc
WUBA
|
+$22.7M |
| 2 |
Apple
AAPL
|
+$19M |
| 3 |
Autohome
ATHM
|
+$16M |
| 4 |
AWAY
HOMEAWAY INC COM
AWAY
|
+$14.4M |
| 5 |
FLTX
Fleetmatics Group PLC
FLTX
|
+$9.87M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
VNET
VNET Group
VNET
|
+$12.5M |
| 2 |
ACTV
Active Network Inc
ACTV
|
+$12.2M |
| 3 |
SFUN
Fang Holdings Limited American Depositary Shares (each representing ten Class A Ordinary Shares)
SFUN
|
+$9.42M |
| 4 |
LNKD
LinkedIn Corporation
LNKD
|
+$7.38M |
| 5 |
Baidu
BIDU
|
+$6.98M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 33.44% |
| 2 | Technology | 23.03% |
| 3 | Real Estate | 21.09% |
| 4 | Consumer Discretionary | 6.22% |
| 5 | Energy | 2.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Zillow
ZG
$8.46B
| – | – |
-90,000
| Closed | -$2.53M |
|
|
PFPT
52
DELISTED
Proofpoint, Inc.
PFPT
| – | – |
-95,000
| Closed | -$3.05M |
|
|
N
53
DELISTED
Netsuite Inc
N
| – | – |
-30,000
| Closed | -$3.24M |
|
|
DANG
54
DELISTED
E-COMMERCE CHINA DANGDANG INC SPNSRD ADS REP COM CL A (CYM)
DANG
| – | – |
-45,595
| Closed | -$478K |
|
|
CNQR
55
DELISTED
CONCUR TECHNOLOGIES INC
CNQR
| – | – |
-22,896
| Closed | -$2.53M |
|
|
ACTV
56
DELISTED
Active Network Inc
ACTV
| – | – |
-850,000
| Closed | -$12.2M |
|
|
LNKD
57
DELISTED
LinkedIn Corporation
LNKD
| – | – |
-30,000
| Closed | -$7.38M |
|
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Glen Kacher's Q4 2013 Portfolio in Review
As of Q4 2013, Glen Kacher held 57 positions worth $484M, up 52% from $317M the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Glen Kacher deployed $94.7M of net new capital in Q4 2013, opening 17 new positions and adding to 17 existing holdings. Its largest new stake was 58.com Inc: 715,000 shares worth $27.4M.
By sector, the portfolio is most concentrated in Communication Services at 33% of assets, down from 34% a quarter earlier, followed by Technology and Real Estate.
On the sell side, the largest reduction was Fang Holdings Limited American Depositary Shares (each representing ten Class A Ordinary Shares), an estimated $9.42M trimmed.
- Glen Kacher's largest Q4 2013 buy was 58.com Inc: 715,000 shares worth $27.4M.
- Glen Kacher added most to HOMEAWAY INC COM in Q4 2013, an estimated $14.4M increase.
- Glen Kacher's biggest Q4 2013 reduction was Fang Holdings Limited American Depositary Shares (each representing ten Class A Ordinary Shares), cutting an estimated $9.42M.
- Glen Kacher fully exited VNET Group in Q4 2013, selling an estimated $12.5M.
- Glen Kacher's ten largest holdings make up 46% of its $484M portfolio in Q4 2013.
- Glen Kacher opened 17 new positions and closed 11 in Q4 2013.
- Glen Kacher's portfolio value rose 52% quarter-over-quarter to $484M.
Based on Light Street Capital Management's 13F filing for Q4 2013, filed 14 Feb 2014.