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 |
Sunrun
RUN
|
+$121M |
| 2 |
NOVA
Sunnova Energy
NOVA
|
+$74.1M |
| 3 |
TPGY
TPG Pace Beneficial Finance Corp.
TPGY
|
+$67.5M |
| 4 |
Pinterest
PINS
|
+$52.7M |
| 5 |
SPLK
Splunk Inc
SPLK
|
+$50.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$77.2M |
| 2 |
NVTA
Invitae Corporation
NVTA
|
+$76.8M |
| 3 |
Sea Limited
SE
|
+$61.3M |
| 4 |
Datadog
DDOG
|
+$55.1M |
| 5 |
ASML
ASML
|
+$54.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 53.44% |
| 2 | Consumer Discretionary | 24.1% |
| 3 | Communication Services | 8.52% |
| 4 | Healthcare | 5.51% |
| 5 | Financials | 4.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Li Auto
LI
$12.8B
| – | – |
-2,354,433
| Closed | -$40.9M |
|
52
Live Nation Entertainment
LYV
$42.4B
| – | – |
-260,000
| Closed | -$14M |
|
53
Okta
OKTA
$23.5B
| – | – |
-55,000
| Closed | -$11.8M |
|
54
PUT
Invesco QQQ Trust
QQQ
$486B
| – | – |
-1,500,000
| Closed | -$417M |
|
55
Shopify
SHOP
$192B
| – | – |
-352,400
| Closed | -$36M |
|
56
TAL Education Group
TAL
$6.28B
| – | – |
-532,700
| Closed | -$40.5M |
|
57
Uber
UBER
$161B
| – | – |
-139,846
| Closed | -$5.1M |
|
|
NVTA
58
DELISTED
Invitae Corporation
NVTA
| – | – |
-1,771,101
| Closed | -$76.8M |
|
|
CD
59
DELISTED
Chindata Group Holdings Limited American Depositary Shares
CD
| – | – |
-20,000
| Closed | -$325K |
|
|
WORK
60
DELISTED
Slack Technologies, Inc.
WORK
| – | – |
-235,495
| Closed | -$6.33M |
|
|
ATVI
61
DELISTED
Activision Blizzard
ATVI
| – | – |
-536,800
| Closed | -$43.5M |
|
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Glen Kacher's Q4 2020 Portfolio in Review
As of Q4 2020, Glen Kacher held 61 positions worth $3.35B, up 5.5% from $3.18B the previous quarter. Its ten largest holdings account for 51% of the portfolio.
Glen Kacher withdrew a net $650M in Q4 2020, closing 17 positions and reducing 18 holdings. Its most notable exit was Alibaba, an estimated $77.2M position sold in full.
By sector, the portfolio is most concentrated in Technology at 53% of assets, up from 42% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, Glen Kacher opened a new position in Sunrun worth $135M.
- Glen Kacher's largest Q4 2020 buy was Sunrun: 1,942,300 shares worth $135M.
- Glen Kacher added most to Pinterest in Q4 2020, an estimated $52.7M increase.
- Glen Kacher's biggest Q4 2020 reduction was Sea Limited, cutting an estimated $61.3M.
- Glen Kacher fully exited Alibaba in Q4 2020, selling an estimated $77.2M.
- Glen Kacher's ten largest holdings make up 51% of its $3.35B portfolio in Q4 2020.
- Glen Kacher opened 16 new positions and closed 17 in Q4 2020.
- Glen Kacher's portfolio value rose 5.5% quarter-over-quarter to $3.35B.
Based on Light Street Capital Management's 13F filing for Q4 2020, filed 16 Feb 2021.