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 |
WIX.com
WIX
|
+$44.8M |
| 2 |
Match Group
MTCH
|
+$42.2M |
| 3 |
MOMO
Hello Group
MOMO
|
+$34.5M |
| 4 |
STMP
Stamps.com, Inc.
STMP
|
+$16.4M |
| 5 |
IMAX
IMAX
|
+$16.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
LOGM
LogMein, Inc.
LOGM
|
+$55.1M |
| 2 |
Shopify
SHOP
|
+$44.4M |
| 3 |
TRVG
trivago
TRVG
|
+$32.3M |
| 4 |
Apple
AAPL
|
+$27.3M |
| 5 |
Microsoft
MSFT
|
+$21.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 26.28% |
| 2 | Technology | 19.08% |
| 3 | Consumer Discretionary | 17.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
Invesco QQQ Trust
QQQ
$486B
| $251M | 17.67% |
+1,820,000
| New | +$250M |
|
|
MOMO
2
Hello Group
MOMO
$850M
| $177M | 12.51% |
4,800,000
+900,000
| +23% | +$34.5M |
|
3
CALL
Amazon
AMZN
$2.79T
| $155M | 10.92% |
+3,200,000
| New | +$153M |
|
|
4
WIX.com
WIX
$3.43B
| $71.3M | 5.03% |
1,025,000
+600,000
| +141% | +$44.8M |
|
5
Meta Platforms (Facebook)
META
$1.4T
| $67.9M | 4.79% |
450,000
-75,000
| -14% | -$11.2M |
|
6
PUT
Target
TGT
$75.1B
| $60.1M | 4.24% |
1,150,000
| – | – |
|
|
STMP
7
DELISTED
Stamps.com, Inc.
STMP
| $56.5M | 3.99% |
365,000
+130,000
| +55% | +$16.4M |
|
|
XYZ
8
Block Inc
XYZ
$49.4B
| $56.3M | 3.97% |
2,400,000
-250,000
| -9% | -$5.17M |
|
|
9
Amazon
AMZN
$2.79T
| $55.7M | 3.93% |
1,150,000
-100,000
| -8% | -$4.77M |
|
10
Mercado Libre
MELI
$97.5B
| $55.2M | 3.89% |
220,000
+45,000
| +26% | +$11.6M |
|
11
Alibaba
BABA
$286B
| $52.8M | 3.73% |
375,000
+125,000
| +50% | +$15.4M |
|
12
Booking.com
BKNG
$158B
| $48.6M | 3.43% |
650,000
+125,000
| +24% | +$9.16M |
|
|
13
Match Group
MTCH
$9.38B
| $40M | 2.82% |
+2,300,000
| New | +$42.2M |
|
14
Take-Two Interactive
TTWO
$44.8B
| $36.7M | 2.59% |
500,000
| – | – |
|
15
BlackLine
BL
$1.85B
| $32.2M | 2.27% |
900,000
-350,060
| -28% | -$11.6M |
|
|
16
IMAX
IMAX
$2.89B
| $30.8M | 2.17% |
1,400,000
+575,000
| +70% | +$16.1M |
|
17
Tesla
TSLA
$1.43T
| $30.7M | 2.17% |
1,275,000
-705,000
| -36% | -$15.5M |
|
18
Universal Display
OLED
$3.95B
| $26.2M | 1.85% |
240,000
-35,000
| -13% | -$3.68M |
|
|
GTYHU
19
DELISTED
GTY Technology Holdings, Inc. Units
GTYHU
| $26.1M | 1.84% |
2,500,000
| – | – |
|
20
PUT
Dillards
DDS
$9.71B
| $20.2M | 1.42% |
350,000
| – | – |
|
|
BBBY
21
PUT
DELISTED
Bed Bath & Beyond Inc
BBBY
| $19.8M | 1.39% |
650,000
-650,000
| -50% | -$23.5M |
|
|
22
Shopify
SHOP
$192B
| $17.4M | 1.23% |
2,000,000
-5,250,000
| -72% | -$44.4M |
|
23
Netflix
NFLX
$331B
| $13.4M | 0.95% |
900,000
-1,350,000
| -60% | -$20.8M |
|
|
LOGM
24
DELISTED
LogMein, Inc.
LOGM
| $10.6M | 0.75% |
101,673
-503,327
| -83% | -$55.1M |
|
|
TRVG
25
trivago
TRVG
$382M
| $6.33M | 0.45% |
53,513
-368,487
| -87% | -$32.3M |
|
Similar funds
Glen Kacher's Q2 2017 Portfolio in Review
As of Q2 2017, Glen Kacher held 34 positions worth $1.42B, up 14% from $1.25B the previous quarter. Its ten largest holdings account for 71% of the portfolio.
Glen Kacher deployed $69.6M of net new capital in Q2 2017, opening 3 new positions and adding to 7 existing holdings. Its largest new stake was Match Group: 2,300,000 shares worth $40M.
By sector, the portfolio is most concentrated in Communication Services at 26% of assets, up from 26% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was LogMein, Inc., an estimated $55.1M trimmed.
- Glen Kacher's largest Q2 2017 buy was Match Group: 2,300,000 shares worth $40M.
- Glen Kacher added most to WIX.com in Q2 2017, an estimated $44.8M increase.
- Glen Kacher's biggest Q2 2017 reduction was LogMein, Inc., cutting an estimated $55.1M.
- Glen Kacher fully exited Apple in Q2 2017, selling an estimated $27.3M.
- Glen Kacher's ten largest holdings make up 71% of its $1.42B portfolio in Q2 2017.
- Glen Kacher opened 3 new positions and closed 9 in Q2 2017.
- Glen Kacher's portfolio value rose 14% quarter-over-quarter to $1.42B.
Based on Light Street Capital Management's 13F filing for Q2 2017, filed 14 Aug 2017.