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 |
Mercado Libre
MELI
|
+$79.6M |
| 2 |
ZEN
ZENDESK INC
ZEN
|
+$76.9M |
| 3 |
Expensify
EXFY
|
+$63.7M |
| 4 |
Take-Two Interactive
TTWO
|
+$49.4M |
| 5 |
Roku
ROKU
|
+$46.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Uber
UBER
|
+$99M |
| 2 |
Coinbase
COIN
|
+$98.3M |
| 3 |
Lyft
LYFT
|
+$62.2M |
| 4 |
Peloton Interactive
PTON
|
+$51.7M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
|
ZEN
1
DELISTED
ZENDESK INC
ZEN
| $130M | 7.75% |
1,243,981
+717,511
| +136% | +$76.9M |
|
2
Sea Limited
SE
$72B
| $113M | 6.76% |
505,597
-36,620
| -7% | -$10.9M |
|
|
CFLT
3
DELISTED
Confluent
CFLT
| $79.2M | 4.73% |
1,039,061
-485,200
| -32% | -$35M |
|
4
Salesforce
CRM
$171B
| $76.5M | 4.57% |
300,840
+75,620
| +34% | +$21.2M |
|
|
5
Mercado Libre
MELI
$97.5B
| $76.4M | 4.56% |
+56,630
| New | +$79.6M |
|
|
6
Expensify
EXFY
$241M
| $68.8M | 4.11% |
+1,564,597
| New | +$63.7M |
|
7
Elastic
ESTC
$8.93B
| $66.2M | 3.96% |
537,632
+99,565
| +23% | +$15M |
|
8
Datadog
DDOG
$84.6B
| $59.6M | 3.56% |
334,640
+29,300
| +10% | +$4.97M |
|
9
Accel Entertainment
ACEL
$979M
| $55.4M | 3.31% |
4,256,931
-68,522
| -2% | -$870K |
|
10
Cellebrite
CLBT
$2.77B
| $54.5M | 3.26% |
6,795,000
| – | – |
|
11
PAR Technology
PAR
$808M
| $53.5M | 3.2% |
1,014,487
+347,823
| +52% | +$21M |
|
|
12
Take-Two Interactive
TTWO
$44.8B
| $50.4M | 3.01% |
+283,409
| New | +$49.4M |
|
13
Meta Platforms (Facebook)
META
$1.4T
| $50.1M | 3% |
149,025
+13,987
| +10% | +$4.64M |
|
14
Marvell Technology
MRVL
$213B
| $48.8M | 2.91% |
+557,400
| New | +$41.6M |
|
15
Rocket Lab Corp
RKLB
$46.4B
| $48.3M | 2.89% |
3,931,512
+1,657,322
| +73% | +$22.8M |
|
16
GoodRx Holdings
GDRX
$1.18B
| $46.5M | 2.78% |
1,424,374
-592,930
| -29% | -$23.9M |
|
17
Nerdy
NRDY
$89.8M
| $44.8M | 2.68% |
663,747
+37,538
| +6% | +$4.02M |
|
18
Match Group
MTCH
$9.38B
| $43.2M | 2.58% |
326,920
-61,586
| -16% | -$8.92M |
|
19
Applovin
APP
$102B
| $40.8M | 2.44% |
433,180
-236,574
| -35% | -$22M |
|
|
ASTR
20
DELISTED
Astra Space, Inc. Class A Common Stock
ASTR
| $40.3M | 2.41% |
388,128
-46,792
| -11% | -$6.43M |
|
|
21
Roku
ROKU
$23.4B
| $39.1M | 2.34% |
+171,497
| New | +$46.3M |
|
22
Amazon
AMZN
$2.79T
| $38.2M | 2.28% |
228,940
+5,800
| +3% | +$993K |
|
23
Etsy
ETSY
$7.44B
| $37.6M | 2.25% |
171,734
-32,170
| -16% | -$7.75M |
|
24
ServiceNow
NOW
$133B
| $37.2M | 2.22% |
286,320
-51,375
| -15% | -$6.75M |
|
25
Intuit
INTU
$100B
| $35.2M | 2.11% |
54,766
-12,515
| -19% | -$7.73M |
|
Similar funds
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.