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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
+13.98%
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
$766M
AUM Growth
+$96.9M
Cap. Flow
+$33.9M
Cap. Flow %
4.43%
Top 10 Hldgs %
65.78%
Holding
30
New
5
Increased
11
Reduced
6
Closed
5

Top Buys

Rank Stock Value
1
EWU icon
iShares MSCI United Kingdom ETF
EWU
+$23M
2
SHOP icon
Shopify
SHOP
+$20.2M
3
PFPT
Proofpoint, Inc.
PFPT
+$13.1M
4
NFLX icon
Netflix
NFLX
+$11.4M
5
DATA
Tableau Software, Inc.
DATA
+$10.8M

Top Sells

Rank Stock Value
1
P
Pandora Media Inc
P
+$27.6M
2
VNET
VNET Group
VNET
+$15.1M
3
LOGM
LogMein, Inc.
LOGM
+$13.6M
4
JOYY
JOYY Inc
JOYY
+$12.6M
5
EJ
E HOUSE (CHINA) HOLDINGS LIMITED
EJ
+$10.4M

Sector Composition

Rank Sector Weight
1 Communication Services 27.63%
2 Technology 26.48%
3 Consumer Discretionary 21.74%
4 Real Estate 4.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
META icon
1
CALL
Meta Platforms (Facebook)
META
$1.4T
$94.2M 12.3%
900,000
-300,000
-25% -$30.8M
META icon
2
Meta Platforms (Facebook)
META
$1.4T
$75.9M 9.91%
725,000
– –
JD icon
3
JD.com
JD
$39.7B
$59.7M 7.79%
1,850,000
+62,464
+3% +$1.84M
WUBA
4
DELISTED
58.com Inc
WUBA
$52.8M 6.89%
800,000
-75,000
-9% -$4.22M
AMZN icon
5
Amazon
AMZN
$2.79T
$43.9M 5.74%
1,300,000
+100,000
+8% +$3.15M
SHOP icon
6
Shopify
SHOP
$192B
$41.3M 5.39%
16,000,000
+6,870,000
+75% +$20.2M
PFPT
7
DELISTED
Proofpoint, Inc.
PFPT
$39M 5.09%
600,000
+195,000
+48% +$13.1M
NFLX icon
8
Netflix
NFLX
$331B
$34.3M 4.48%
3,000,000
+1,000,000
+50% +$11.4M
SBAC icon
9
SBA Communications
SBAC
$19.4B
$31.5M 4.12%
300,000
+43,771
+17% +$4.74M
CHTR icon
10
Charter Communications
CHTR
$17.9B
$31.1M 4.06%
170,000
-2,953
-2% -$547K
DATA
11
DELISTED
Tableau Software, Inc.
DATA
$29.2M 3.81%
310,000
+119,799
+63% +$10.8M
PANW icon
12
Palo Alto Networks
PANW
$292B
$28.2M 3.68%
960,000
+90,000
+10% +$2.6M
P
13
CALL
DELISTED
Pandora Media Inc
P
$26.4M 3.45%
+1,970,000
New +$29.4M
EWU icon
14
iShares MSCI United Kingdom ETF
EWU
$3.98B
$21.8M 2.85%
+675,000
New +$23M
BKNG icon
15
Booking.com
BKNG
$158B
$21.7M 2.83%
425,000
+50,000
+13% +$2.64M
HUBS icon
16
HubSpot
HUBS
$12B
$20.5M 2.67%
363,336
-36,618
-9% -$1.94M
VIPS icon
17
Vipshop
VIPS
$6.98B
$20.4M 2.67%
1,339,222
+185,159
+16% +$3.25M
ZEN
18
DELISTED
ZENDESK INC
ZEN
$17.8M 2.33%
675,000
+354,400
+111% +$8.31M
JOYY
19
JOYY Inc
JOYY
$3.71B
$17.5M 2.28%
280,000
-211,454
-43% -$12.6M
CHTR icon
20
CALL
Charter Communications
CHTR
$17.9B
$11M 1.43%
60,000
– –
TCOM icon
21
Trip.com Group
TCOM
$29B
$10.7M 1.4%
+230,692
New +$10.6M
VNET
22
VNET Group
VNET
$1.91B
$10.6M 1.38%
500,000
-752,652
-60% -$15.1M
BLOX
23
DELISTED
Infoblox Inc
BLOX
$10.2M 1.33%
+555,294
New +$9.41M
CRCM
24
DELISTED
CARE.COM, INC.
CRCM
$10.1M 1.31%
1,405,533
– –
HDP
25
DELISTED
Hortonworks, Inc.
HDP
$6.02M 0.79%
+275,000
New +$5.4M
1
2

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SWM
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TFM
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SC
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SG
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NCM
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Glen Kacher's Q4 2015 Portfolio in Review

As of Q4 2015, Glen Kacher held 30 positions worth $766M, up 14% from $669M the previous quarter. Its ten largest holdings account for 66% of the portfolio.

Glen Kacher deployed $33.9M of net new capital in Q4 2015, opening 5 new positions and adding to 11 existing holdings. Its largest new stake was iShares MSCI United Kingdom ETF: 675,000 shares worth $21.8M.

By sector, the portfolio is most concentrated in Communication Services at 28% of assets, down from 35% a quarter earlier, followed by Technology and Consumer Discretionary.

On the sell side, the largest reduction was VNET Group, an estimated $15.1M trimmed.

  • Glen Kacher's largest Q4 2015 buy was iShares MSCI United Kingdom ETF: 675,000 shares worth $21.8M.
  • Glen Kacher added most to Shopify in Q4 2015, an estimated $20.2M increase.
  • Glen Kacher's biggest Q4 2015 reduction was VNET Group, cutting an estimated $15.1M.
  • Glen Kacher fully exited Pandora Media Inc in Q4 2015, selling an estimated $27.6M.
  • Glen Kacher's ten largest holdings make up 66% of its $766M portfolio in Q4 2015.
  • Glen Kacher opened 5 new positions and closed 5 in Q4 2015.
  • Glen Kacher's portfolio value rose 14% quarter-over-quarter to $766M.

Based on Light Street Capital Management's 13F filing for Q4 2015, filed 16 Feb 2016.