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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
+24.26%
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
$334M
AUM Growth
-$5.86M
Cap. Flow
-$69.1M
Cap. Flow %
-20.69%
Top 10 Hldgs %
73.55%
Holding
28
New
5
Increased
7
Reduced
9
Closed
7

Top Buys

Rank Stock Value
1
TSM icon
TSMC
TSM
+$12.7M
2
MELI icon
Mercado Libre
MELI
+$11.6M
3
BILL icon
BILL Holdings
BILL
+$11M
4
PCOR icon
Procore
PCOR
+$9.93M
5
AMD icon
Advanced Micro Devices
AMD
+$6.35M

Top Sells

Rank Stock Value
1
GTLB icon
GitLab
GTLB
+$29.2M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$18.3M
3
TSLA icon
Tesla
TSLA
+$15.8M
4
SNPS icon
Synopsys
SNPS
+$11.5M
5
CLBT icon
Cellebrite
CLBT
+$9.85M

Sector Composition

Rank Sector Weight
1 Technology 79.26%
2 Consumer Discretionary 14.75%
3 Communication Services 5.25%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NVDA icon
1
NVIDIA
NVDA
$5.2T
$49M 14.68%
990,000
-95,000
-9% -$4.4M
AMD icon
2
Advanced Micro Devices
AMD
$773B
$41.1M 12.32%
279,000
+53,900
+24% +$6.35M
FROG icon
3
JFrog
FROG
$11.4B
$24.2M 7.26%
700,613
+75,676
+12% +$2.05M
TSM icon
4
TSMC
TSM
$2.17T
$24M 7.2%
231,100
+133,636
+137% +$12.7M
AMZN icon
5
Amazon
AMZN
$2.79T
$19.2M 5.76%
126,500
+7,145
+6% +$1M
CRM icon
6
Salesforce
CRM
$171B
$18.9M 5.67%
71,888
+16,333
+29% +$3.7M
AVGO icon
7
Broadcom
AVGO
$1.75T
$18.8M 5.62%
168,070
-40,280
-19% -$3.81M
MSFT icon
8
Microsoft
MSFT
$3.59T
$17.7M 5.29%
46,997
-16,936
-26% -$6.03M
META icon
9
Meta Platforms (Facebook)
META
$1.4T
$17.5M 5.25%
49,500
-20,478
-29% -$6.67M
GTLB icon
10
GitLab
GTLB
$7.04B
$15.1M 4.51%
239,200
-578,541
-71% -$29.2M
INDI icon
11
indie Semiconductor
INDI
$877M
$14.1M 4.22%
1,738,664
-158,244
-8% -$1.03M
MELI icon
12
Mercado Libre
MELI
$97.5B
$12.9M 3.86%
+8,200
New +$11.6M
PDD icon
13
Pinduoduo
PDD
$126B
$12.7M 3.81%
87,000
+48,765
+128% +$5.91M
PCOR icon
14
Procore
PCOR
$9.65B
$11.1M 3.34%
+161,000
New +$9.93M
BILL icon
15
BILL Holdings
BILL
$4.76B
$10.9M 3.26%
+133,400
New +$11M
CAMT icon
16
Camtek
CAMT
$6.85B
$7.04M 2.11%
+101,500
New +$6.18M
CLBT icon
17
Cellebrite
CLBT
$2.77B
$6.84M 2.05%
789,966
-1,267,833
-62% -$9.85M
LI icon
18
Li Auto
LI
$12.8B
$4.41M 1.32%
+117,692
New +$4.25M
ADSK icon
19
Autodesk
ADSK
$53.6B
$4.38M 1.31%
18,000
-19,586
-52% -$4.23M
CLBTW
20
DELISTED
Cellebrite DI Ltd. Warrants
CLBTW
$2.48M 0.74%
1,672,361
+5,694
+0.3% +$6.69K
NRDY icon
21
Nerdy
NRDY
$89.8M
$1.43M 0.43%
27,872
-187,124
-87% -$8.61M
AMPL icon
22
Amplitude
AMPL
$1.66B
– –
-802,689
Closed -$9.29M
GOOGL icon
23
Alphabet (Google) Class A
GOOGL
$4.22T
– –
-140,133
Closed -$18.3M
NFLX icon
24
Netflix
NFLX
$331B
– –
-150,150
Closed -$5.67M
OKTA icon
25
Okta
OKTA
$23.5B
– –
-111,830
Closed -$9.12M
1
2

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Glen Kacher's Q4 2023 Portfolio in Review

As of Q4 2023, Glen Kacher held 28 positions worth $334M, down 1.7% from $340M the previous quarter. Its ten largest holdings account for 74% of the portfolio.

Glen Kacher withdrew a net $69.1M in Q4 2023, closing 7 positions and reducing 9 holdings. Its most notable exit was Alphabet (Google) Class A, an estimated $18.3M position sold in full.

By sector, the portfolio is most concentrated in Technology at 79% of assets, up from 76% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, Glen Kacher opened a new position in Mercado Libre worth $12.9M.

  • Glen Kacher's largest Q4 2023 buy was Mercado Libre: 8,200 shares worth $12.9M.
  • Glen Kacher added most to TSMC in Q4 2023, an estimated $12.7M increase.
  • Glen Kacher's biggest Q4 2023 reduction was GitLab, cutting an estimated $29.2M.
  • Glen Kacher fully exited Alphabet (Google) Class A in Q4 2023, selling an estimated $18.3M.
  • Glen Kacher's ten largest holdings make up 74% of its $334M portfolio in Q4 2023.
  • Glen Kacher opened 5 new positions and closed 7 in Q4 2023.
  • Glen Kacher's portfolio value fell 1.7% quarter-over-quarter to $334M.

Based on Light Street Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.