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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
-4.62%
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
$1.67B
AUM Growth
-$321M
Cap. Flow
-$176M
Cap. Flow %
-10.54%
Top 10 Hldgs %
46.58%
Holding
61
New
10
Increased
16
Reduced
13
Closed
15

Top Buys

Rank Stock Value
1
MELI icon
Mercado Libre
MELI
+$79.6M
2
ZEN
ZENDESK INC
ZEN
+$76.9M
3
EXFY icon
Expensify
EXFY
+$63.7M
4
TTWO icon
Take-Two Interactive
TTWO
+$49.4M
5
ROKU icon
Roku
ROKU
+$46.3M

Top Sells

Rank Stock Value
1
UBER icon
Uber
UBER
+$99M
2
COIN icon
Coinbase
COIN
+$98.3M
3
LYFT icon
Lyft
LYFT
+$62.2M
4
PTON icon
Peloton Interactive
PTON
+$51.7M
5
ZM icon
Zoom
ZM
+$43.8M

Sector Composition

Rank Sector Weight
1 Technology 51.49%
2 Consumer Discretionary 22.13%
3 Communication Services 14.21%
4 Healthcare 5.05%
5 Industrials 4.86%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LYFT icon
51
Lyft
LYFT
$6.61B
– –
-1,160,950
Closed -$62.2M
NET icon
52
Cloudflare
NET
$104B
– –
-27,700
Closed -$3.12M
ONON icon
53
On Holding
ONON
$10B
– –
-915,659
Closed -$27.6M
PRPL icon
54
Purple Innovation
PRPL
$24.1M
– –
-52,300
Closed -$27.5M
PTON icon
55
Peloton Interactive
PTON
$2.37B
– –
-594,164
Closed -$51.7M
UBER icon
56
Uber
UBER
$161B
– –
-2,208,950
Closed -$99M
ZH
57
Zhihu
ZH
$275M
– –
-632,377
Closed -$35M
ZM icon
58
Zoom
ZM
$31.5B
– –
-167,409
Closed -$43.8M
XYZ
59
Block Inc
XYZ
$49.4B
– –
-11,070
Closed -$2.65M
TPGY
60
DELISTED
TPG Pace Beneficial Finance Corp.
TPGY
– –
-4,125,702
Closed -$43.5M
TPGS
61
DELISTED
TPG Pace Solutions Corp.
TPGS
– –
-1,471,900
Closed -$14.8M
1 2
3

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SWM
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TFM
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Glen Kacher's Q4 2021 Portfolio in Review

As of Q4 2021, Glen Kacher held 61 positions worth $1.67B, down 16% from $1.99B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Glen Kacher withdrew a net $176M in Q4 2021, closing 15 positions and reducing 13 holdings. Its most notable exit was Uber, an estimated $99M position sold in full.

By sector, the portfolio is most concentrated in Technology at 51% of assets, up from 46% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, Glen Kacher opened a new position in Mercado Libre worth $76.4M.

  • Glen Kacher's largest Q4 2021 buy was Mercado Libre: 56,630 shares worth $76.4M.
  • Glen Kacher added most to ZENDESK INC in Q4 2021, an estimated $76.9M increase.
  • Glen Kacher's biggest Q4 2021 reduction was Confluent, cutting an estimated $35M.
  • Glen Kacher fully exited Uber in Q4 2021, selling an estimated $99M.
  • Glen Kacher's ten largest holdings make up 47% of its $1.67B portfolio in Q4 2021.
  • Glen Kacher opened 10 new positions and closed 15 in Q4 2021.
  • Glen Kacher's portfolio value fell 16% quarter-over-quarter to $1.67B.

Based on Light Street Capital Management's 13F filing for Q4 2021, filed 14 Feb 2022.