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 |
Meta Platforms (Facebook)
META
|
+$75.3M |
| 2 |
NVIDIA
NVDA
|
+$66.1M |
| 3 |
Salesforce
CRM
|
+$62.1M |
| 4 |
ServiceNow
NOW
|
+$58.2M |
| 5 |
Nerdy
NRDY
|
+$57.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Unity
U
|
+$739M |
| 2 |
StoneCo
STNE
|
+$96.9M |
| 3 |
Wolfspeed
WOLF
|
+$84.2M |
| 4 |
CrowdStrike
CRWD
|
+$80.5M |
| 5 |
Sea Limited
SE
|
+$70.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 44.96% |
| 2 | Consumer Discretionary | 27.05% |
| 3 | Communication Services | 12.06% |
| 4 | Financials | 7.47% |
| 5 | Healthcare | 3.23% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
EXAS
51
DELISTED
Exact Sciences
EXAS
| – | – |
-404,672
| Closed | -$53.6M |
|
52
Guardant Health
GH
$22.9B
| – | – |
-162,900
| Closed | -$21M |
|
53
JD.com
JD
$39.7B
| – | – |
-725,846
| Closed | -$63.8M |
|
54
Netflix
NFLX
$331B
| – | – |
-1,281,750
| Closed | -$69.3M |
|
55
Phreesia
PHR
$749M
| – | – |
-327,000
| Closed | -$17.7M |
|
56
Rapid7
RPD
$799M
| – | – |
-553,447
| Closed | -$49.9M |
|
|
57
StoneCo
STNE
$2.16B
| – | – |
-1,155,200
| Closed | -$96.9M |
|
58
Tenable Holdings
TENB
$3.79B
| – | – |
-652,114
| Closed | -$34.1M |
|
|
59
Unity
U
$20.7B
| – | – |
-4,812,816
| Closed | -$739M |
|
60
Wayfair
W
$13.9B
| – | – |
-59,450
| Closed | -$13.4M |
|
|
61
Wolfspeed
WOLF
$1.34B
| – | – |
-795,427
| Closed | -$84.2M |
|
|
XYZ
62
Block Inc
XYZ
$49.4B
| – | – |
-115,000
| Closed | -$25M |
|
|
SPLK
63
DELISTED
Splunk Inc
SPLK
| – | – |
-263,000
| Closed | -$44.7M |
|
|
BTWNU
64
DELISTED
Bridgetown Holdings Limited Units
BTWNU
| – | – |
-1,734,810
| Closed | -$29.5M |
|
|
PACE.U
65
DELISTED
TPG Pace Tech Opportunities Corp. Units, each consisting of one Class A ordinary share and one-fifth
PACE.U
| – | – |
-4,500,000
| Closed | -$51.1M |
|
Similar funds
Glen Kacher's Q1 2021 Portfolio in Review
As of Q1 2021, Glen Kacher held 65 positions worth $1.87B, down 44% from $3.35B the previous quarter. Its ten largest holdings account for 41% of the portfolio.
Glen Kacher withdrew a net $1.52B in Q1 2021, closing 19 positions and reducing 17 holdings. Its most notable exit was Unity, an estimated $739M position sold in full.
By sector, the portfolio is most concentrated in Technology at 45% of assets, down from 53% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, Glen Kacher opened a new position in Meta Platforms (Facebook) worth $82.3M.
- Glen Kacher's largest Q1 2021 buy was Meta Platforms (Facebook): 279,500 shares worth $82.3M.
- Glen Kacher added most to Lyft in Q1 2021, an estimated $41.4M increase.
- Glen Kacher's biggest Q1 2021 reduction was Sea Limited, cutting an estimated $70.3M.
- Glen Kacher fully exited Unity in Q1 2021, selling an estimated $739M.
- Glen Kacher's ten largest holdings make up 41% of its $1.87B portfolio in Q1 2021.
- Glen Kacher opened 21 new positions and closed 19 in Q1 2021.
- Glen Kacher's portfolio value fell 44% quarter-over-quarter to $1.87B.
Based on Light Street Capital Management's 13F filing for Q1 2021, filed 17 May 2021.