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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
+12.09%
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
$650M
AUM Growth
+$55.3M
Cap. Flow
-$4.72M
Cap. Flow %
-0.73%
Top 10 Hldgs %
76.35%
Holding
33
New
6
Increased
9
Reduced
9
Closed
9

Top Buys

Rank Stock Value
1
CHYM
Chime Financial
CHYM
+$25.9M
2
NFLX icon
Netflix
NFLX
+$21.6M
3
RDDT icon
Reddit
RDDT
+$18.9M
4
AVGO icon
Broadcom
AVGO
+$15.9M
5
AMPL icon
Amplitude
AMPL
+$15.8M

Top Sells

Rank Stock Value
1
DDOG icon
Datadog
DDOG
+$29.5M
2
SNOW icon
Snowflake
SNOW
+$22.3M
3
MDB icon
MongoDB
MDB
+$21.3M
4
BABA icon
Alibaba
BABA
+$18.8M
5
SE icon
Sea Limited
SE
+$12.4M

Sector Composition

Rank Sector Weight
1 Technology 81.55%
2 Communication Services 12.55%
3 Utilities 3.43%
4 Consumer Discretionary 2.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TSM icon
1
TSMC
TSM
$2.17T
$81.6M 12.55%
268,392
-20,703
-7% -$6.07M
CHYM
2
Chime Financial
CHYM
$12.4B
$68.2M 10.5%
2,710,289
+1,218,612
+82% +$25.9M
NVDA icon
3
NVIDIA
NVDA
$5.2T
$63.4M 9.76%
340,000
+63,325
+23% +$11.8M
AVGO icon
4
Broadcom
AVGO
$1.75T
$49.8M 7.66%
143,779
+44,474
+45% +$15.9M
BILL icon
5
BILL Holdings
BILL
$4.76B
$47.9M 7.37%
878,000
-84,500
-9% -$4.34M
AMD icon
6
Advanced Micro Devices
AMD
$773B
$47M 7.23%
219,487
-31,626
-13% -$7.1M
GOOGL icon
7
Alphabet (Google) Class A
GOOGL
$4.22T
$42.1M 6.48%
134,500
+12,000
+10% +$3.43M
GTLB icon
8
GitLab
GTLB
$7.04B
$39.8M 6.12%
1,060,000
+210,000
+25% +$9.09M
FROG icon
9
JFrog
FROG
$11.4B
$28.9M 4.44%
462,000
-117,265
-20% -$6.67M
CFLT
10
DELISTED
Confluent
CFLT
$27.5M 4.23%
910,000
-358,640
-28% -$8.8M
CEG icon
11
Constellation Energy
CEG
$96.7B
$22.3M 3.43%
63,065
+15,090
+31% +$5.48M
RDDT icon
12
Reddit
RDDT
$29.5B
$20.7M 3.18%
+90,000
New +$18.9M
NFLX icon
13
Netflix
NFLX
$331B
$18.8M 2.89%
+200,000
New +$21.6M
AMPL icon
14
Amplitude
AMPL
$1.66B
$17.4M 2.67%
+1,500,000
New +$15.8M
AMZN icon
15
Amazon
AMZN
$2.79T
$16M 2.47%
69,500
+19,467
+39% +$4.45M
ASML icon
16
ASML
ASML
$677B
$11.8M 1.81%
10,988
-7,497
-41% -$7.82M
AMKR icon
17
Amkor Technology
AMKR
$12.5B
$11.4M 1.75%
+287,895
New +$10.2M
TEAM icon
18
Atlassian
TEAM
$43.5B
$10.3M 1.58%
+63,272
New +$9.93M
CLBT icon
19
Cellebrite
CLBT
$2.77B
$8.88M 1.37%
492,755
+135,000
+38% +$2.42M
NXPI icon
20
NXP Semiconductors
NXPI
$56.9B
$5.41M 0.83%
24,927
-252
-1% -$54K
MKSI icon
21
MKS Inc
MKSI
$18.9B
$3.13M 0.48%
+19,582
New +$2.9M
ADI icon
22
Analog Devices
ADI
$182B
$2.75M 0.42%
10,152
+3,384
+50% +$850K
AAPL icon
23
Apple
AAPL
$4.51T
$2.73M 0.42%
10,039
-628
-6% -$169K
GDS icon
24
GDS Holdings
GDS
$6.58B
$2.28M 0.35%
65,272
-179,285
-73% -$6.2M
APPF icon
25
AppFolio
APPF
$7.95B
– –
-20,000
Closed -$5.51M
1
2

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SWM
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TFM
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Glen Kacher's Q4 2025 Portfolio in Review

As of Q4 2025, Glen Kacher held 33 positions worth $650M, up 9.3% from $594M the previous quarter. Its ten largest holdings account for 76% of the portfolio.

Glen Kacher's Q4 2025 filing shows 6 new, 9 increased, 9 reduced and 9 closed positions. Its largest new stake was Netflix: 200,000 shares worth $18.8M. The largest sale was Datadog, an estimated $29.5M.

By sector, the portfolio is most concentrated in Technology at 82% of assets, down from 85% a quarter earlier, followed by Communication Services and Utilities.

  • Glen Kacher's largest Q4 2025 buy was Netflix: 200,000 shares worth $18.8M.
  • Glen Kacher added most to Chime Financial in Q4 2025, an estimated $25.9M increase.
  • Glen Kacher's biggest Q4 2025 reduction was Confluent, cutting an estimated $8.8M.
  • Glen Kacher fully exited Datadog in Q4 2025, selling an estimated $29.5M.
  • Glen Kacher's ten largest holdings make up 76% of its $650M portfolio in Q4 2025.
  • Glen Kacher opened 6 new positions and closed 9 in Q4 2025.
  • Glen Kacher's portfolio value rose 9.3% quarter-over-quarter to $650M.

Based on Light Street Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.