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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
+68.53%
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
$2.4B
AUM Growth
+$502M
Cap. Flow
-$375M
Cap. Flow %
-15.59%
Top 10 Hldgs %
48.14%
Holding
56
New
11
Increased
8
Reduced
20
Closed
16

Top Buys

Rank Stock Value
1
ETSY icon
Etsy
ETSY
+$53.7M
2
VYX icon
NCR Voyix
VYX
+$49.6M
3
GRUB
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
+$44.5M
4
STNE icon
StoneCo
STNE
+$38.8M
5
MELI icon
Mercado Libre
MELI
+$35.4M

Top Sells

Rank Stock Value
1
W icon
Wayfair
W
+$141M
2
WORK
Slack Technologies, Inc.
WORK
+$101M
3
AMZN icon
Amazon
AMZN
+$80.1M
4
SE icon
Sea Limited
SE
+$60.4M
5
LYFT icon
Lyft
LYFT
+$57M

Sector Composition

Rank Sector Weight
1 Technology 39.73%
2 Consumer Discretionary 25.57%
3 Communication Services 10.29%
4 Financials 4.69%
5 Industrials 2.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
V icon
51
Visa
V
$693B
– –
-182,600
Closed -$29.4M
VIPS icon
52
Vipshop
VIPS
$6.98B
– –
-2,061,892
Closed -$32.1M
WDAY icon
53
Workday
WDAY
$49.4B
– –
-103,950
Closed -$13.5M
MIME
54
DELISTED
Mimecast Limited
MIME
– –
-417,096
Closed -$14.7M
GSUM
55
DELISTED
Gridsum Holding Inc.
GSUM
– –
-2,723,714
Closed -$1.85M
TSG
56
DELISTED
The Stars Group Inc.
TSG
– –
-1,254,135
Closed -$25.6M
1 2
3

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SWM
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TFM
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PI
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SC
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SG
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NCM
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Glen Kacher's Q2 2020 Portfolio in Review

As of Q2 2020, Glen Kacher held 56 positions worth $2.4B, up 26% from $1.9B the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Glen Kacher withdrew a net $375M in Q2 2020, closing 16 positions and reducing 20 holdings. Its most notable exit was Gilead Sciences, an estimated $52.2M position sold in full.

By sector, the portfolio is most concentrated in Technology at 40% of assets, down from 50% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, Glen Kacher opened a new position in Etsy worth $77.1M.

  • Glen Kacher's largest Q2 2020 buy was Etsy: 725,600 shares worth $77.1M.
  • Glen Kacher added most to NCR Voyix in Q2 2020, an estimated $49.6M increase.
  • Glen Kacher's biggest Q2 2020 reduction was Wayfair, cutting an estimated $141M.
  • Glen Kacher fully exited Gilead Sciences in Q2 2020, selling an estimated $52.2M.
  • Glen Kacher's ten largest holdings make up 48% of its $2.4B portfolio in Q2 2020.
  • Glen Kacher opened 11 new positions and closed 16 in Q2 2020.
  • Glen Kacher's portfolio value rose 26% quarter-over-quarter to $2.4B.

Based on Light Street Capital Management's 13F filing for Q2 2020, filed 14 Aug 2020.