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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
-1.35%
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
$561M
AUM Growth
-$146M
Cap. Flow
-$115M
Cap. Flow %
-20.57%
Top 10 Hldgs %
54.75%
Holding
49
New
15
Increased
7
Reduced
10
Closed
16

Top Buys

Rank Stock Value
1
VNET
VNET Group
VNET
+$31.2M
2
BIDU icon
Baidu
BIDU
+$20.6M
3
MSGS icon
Madison Square Garden
MSGS
+$19.8M
4
SSTK icon
Shutterstock
SSTK
+$16.3M
5
SBAC icon
SBA Communications
SBAC
+$16.2M

Top Sells

Rank Stock Value
1
QIHU
QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS
QIHU
+$36.1M
2
TWTR
Twitter, Inc.
TWTR
+$26.5M
3
NFLX icon
Netflix
NFLX
+$25.8M
4
AMX icon
America Movil
AMX
+$23.9M
5
BKNG icon
Booking.com
BKNG
+$20.3M

Sector Composition

Rank Sector Weight
1 Communication Services 45.12%
2 Technology 30.12%
3 Consumer Discretionary 9.73%
4 Real Estate 7.33%
5 Industrials 1.61%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
META icon
1
Meta Platforms (Facebook)
META
$1.4T
$52.7M 9.39%
675,000
-150,000
-18% -$11.5M
AAPL icon
2
Apple
AAPL
$4.51T
$46.9M 8.36%
1,700,000
+550,844
+48% +$15M
JOYY
3
JOYY Inc
JOYY
$3.71B
$35M 6.23%
560,813
+35,813
+7% +$2.61M
SBAC icon
4
SBA Communications
SBAC
$19.4B
$33.2M 5.92%
300,000
+143,855
+92% +$16.2M
VNET
5
VNET Group
VNET
$1.91B
$26.2M 4.67%
+1,694,072
New +$31.2M
P
6
DELISTED
Pandora Media Inc
P
$25.2M 4.5%
1,414,103
+164,103
+13% +$3.24M
VIPS icon
7
Vipshop
VIPS
$6.98B
$22.6M 4.02%
1,155,000
+55,000
+5% +$1.16M
MNDT
8
DELISTED
Mandiant, Inc. Common Stock
MNDT
$22.1M 3.94%
700,000
-300,000
-30% -$9.21M
NBIS
9
Nebius Group N.V.
NBIS
$59.6B
$22M 3.92%
1,225,000
+325,000
+36% +$7.83M
DATA
10
DELISTED
Tableau Software, Inc.
DATA
$21.2M 3.78%
250,000
-80,000
-24% -$6.36M
MSGS icon
11
Madison Square Garden
MSGS
$9.78B
$21.1M 3.76%
+392,560
New +$19.8M
BIDU icon
12
Baidu
BIDU
$31.6B
$20.5M 3.66%
+90,000
New +$20.6M
XOOM
13
DELISTED
XOOM CORP COM
XOOM
$18.4M 3.28%
1,050,000
+175,000
+20% +$2.91M
WUBA
14
DELISTED
58.com Inc
WUBA
$16.8M 3%
404,300
-345,700
-46% -$14.3M
PANW icon
15
Palo Alto Networks
PANW
$292B
$15.9M 2.84%
+780,000
New +$14.4M
SSTK icon
16
Shutterstock
SSTK
$197M
$15.5M 2.77%
+225,000
New +$16.3M
AMZN icon
17
Amazon
AMZN
$2.79T
$15.5M 2.77%
+1,000,000
New +$15.6M
LYV icon
18
Live Nation Entertainment
LYV
$42.4B
$13.6M 2.42%
+520,000
New +$13.1M
CHTR icon
19
Charter Communications
CHTR
$17.9B
$13.3M 2.38%
+80,000
New +$12.6M
CRCM
20
DELISTED
CARE.COM, INC.
CRCM
$12.6M 2.25%
1,525,012
– –
MKTO
21
DELISTED
MARKETO INC COM STK (DE)
MKTO
$12.1M 2.16%
370,600
-114,400
-24% -$3.61M
AVGO icon
22
Broadcom
AVGO
$1.75T
$9.58M 1.71%
+952,150
New +$8.51M
SWKS icon
23
Skyworks Solutions
SWKS
$10.1B
$9.45M 1.69%
+130,000
New +$8.06M
ATHM icon
24
Autohome
ATHM
$2.56B
$9.25M 1.65%
254,508
-350,492
-58% -$14.9M
JMEI
25
DELISTED
Jumei International Holding Limited American depositary shares, each representing ten Class A ordina
JMEI
$9.01M 1.61%
66,186
-14,814
-18% -$3.01M
1
2

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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 Q4 2014 Portfolio in Review

As of Q4 2014, Glen Kacher held 49 positions worth $561M, down 21% from $707M the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Glen Kacher withdrew a net $115M in Q4 2014, closing 16 positions and reducing 10 holdings. Its most notable exit was QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS, an estimated $36.1M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 45% of assets, up from 43% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, Glen Kacher opened a new position in VNET Group worth $26.2M.

  • Glen Kacher's largest Q4 2014 buy was VNET Group: 1,694,072 shares worth $26.2M.
  • Glen Kacher added most to SBA Communications in Q4 2014, an estimated $16.2M increase.
  • Glen Kacher's biggest Q4 2014 reduction was Booking.com, cutting an estimated $20.3M.
  • Glen Kacher fully exited QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS in Q4 2014, selling an estimated $36.1M.
  • Glen Kacher's ten largest holdings make up 55% of its $561M portfolio in Q4 2014.
  • Glen Kacher opened 15 new positions and closed 16 in Q4 2014.
  • Glen Kacher's portfolio value fell 21% quarter-over-quarter to $561M.

Based on Light Street Capital Management's 13F filing for Q4 2014, filed 17 Feb 2015.