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 |
Netflix
NFLX
|
+$28.1M |
| 2 |
CRCM
CARE.COM, INC.
CRCM
|
+$26.8M |
| 3 |
Meta Platforms (Facebook)
META
|
+$24.1M |
| 4 |
PPLI
People Inc
PPLI
|
+$12.6M |
| 5 |
P
Pandora Media Inc
P
|
+$12.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
BITA
Bitauto Holdings Limited
BITA
|
+$18.7M |
| 2 |
AWAY
HOMEAWAY INC COM
AWAY
|
+$17.6M |
| 3 |
3D Systems Corp
DDD
|
+$14.5M |
| 4 |
FLTX
Fleetmatics Group PLC
FLTX
|
+$11.7M |
| 5 |
EJ
E HOUSE (CHINA) HOLDINGS LIMITED
EJ
|
+$10.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 47.4% |
| 2 | Technology | 18.23% |
| 3 | Real Estate | 13.42% |
| 4 | Consumer Discretionary | 13.12% |
| 5 | Energy | 1.43% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
PARA
51
DELISTED
Paramount Global Class B
PARA
| – | – |
-112,916
| Closed | -$7.2M |
|
52
Stratasys
SSYS
$672M
| – | – |
-51,927
| Closed | -$7M |
|
53
Synaptics
SYNA
$3.68B
| – | – |
-15,824
| Closed | -$820K |
|
54
Veeva Systems
VEEV
$40.2B
| – | – |
-50,000
| Closed | -$1.6M |
|
55
Viasat
VSAT
$10.2B
| – | – |
-70,000
| Closed | -$4.39M |
|
|
NMBL
56
DELISTED
Nimble Storage, Inc.
NMBL
| – | – |
-5,000
| Closed | -$227K |
|
|
FLTX
57
DELISTED
Fleetmatics Group PLC
FLTX
| – | – |
-270,000
| Closed | -$11.7M |
|
|
AWAY
58
DELISTED
HOMEAWAY INC COM
AWAY
| – | – |
-430,000
| Closed | -$17.6M |
|
|
QLIK
59
DELISTED
QLIK TECHNOLOGIES INC COM STK (DE)
QLIK
| – | – |
-270,000
| Closed | -$7.19M |
|
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Glen Kacher's Q1 2014 Portfolio in Review
As of Q1 2014, Glen Kacher held 59 positions worth $546M, up 13% from $484M the previous quarter. Its ten largest holdings account for 57% of the portfolio.
Glen Kacher deployed $62M of net new capital in Q1 2014, opening 13 new positions and adding to 18 existing holdings. Its largest new stake was Netflix: 4,900,000 shares worth $24.6M.
By sector, the portfolio is most concentrated in Communication Services at 47% of assets, up from 33% a quarter earlier, followed by Technology and Real Estate.
On the sell side, the largest reduction was Bitauto Holdings Limited, an estimated $18.7M trimmed.
- Glen Kacher's largest Q1 2014 buy was Netflix: 4,900,000 shares worth $24.6M.
- Glen Kacher added most to Meta Platforms (Facebook) in Q1 2014, an estimated $24.1M increase.
- Glen Kacher's biggest Q1 2014 reduction was Bitauto Holdings Limited, cutting an estimated $18.7M.
- Glen Kacher fully exited HOMEAWAY INC COM in Q1 2014, selling an estimated $17.6M.
- Glen Kacher's ten largest holdings make up 57% of its $546M portfolio in Q1 2014.
- Glen Kacher opened 13 new positions and closed 19 in Q1 2014.
- Glen Kacher's portfolio value rose 13% quarter-over-quarter to $546M.
Based on Light Street Capital Management's 13F filing for Q1 2014, filed 15 May 2014.