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Adviser Profile

As of Date 03/27/2024
Adviser Type - Large advisory firm
Number of Employees 13 -13.33%
of those in investment advisory functions 5 -44.44%
Registration California, Terminated, 4/6/2013
Other registrations (1)
AUM* 821,203,422 -4.68%
of that, discretionary 821,203,422 -4.68%
Private Fund GAV* 821,203,422 -37.37%
Avg Account Size 43,221,233 -4.68%
SMA’s No
Private Funds 19
Contact Info 650 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Recent News

Reported AUM

Discretionary
Non-discretionary
4B 4B 3B 3B 2B 1B 630M
2015 2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypeHedge Fund Count8 GAV$497,239,134
Fund TypePrivate Equity Fund Count11 GAV$323,964,288

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Top Holdings

Stock Ticker Stock Name $ Position % Position $ Change # Change
Stck Ticker67066G104 Stock NameNVIDIA CORPORATION $ Position$71,183,501 % Position16.00% $ Change1.00% # Change639.00%
Stck Ticker874039100 Stock NameTAIWAN SEMICONDUCTOR MFG LTD $ Position$59,408,606 % Position14.00% $ Change30.00% # Change2.00%
Stck Ticker007903107 Stock NameADVANCED MICRO DEVICES INC $ Position$24,003,187 % Position6.00% $ Change-4.00% # Change7.00%
Stck Ticker15101Q207 Stock NameCELESTICA INC $ Position$24,608,100 % Position6.00% $ Change # Change
Stck TickerM6191J100 Stock NameJFROG LTD $ Position$22,980,600 % Position5.00% $ Change-7.00% # Change9.00%
Stck Ticker30303M102 Stock NameMETA PLATFORMS INC $ Position$19,916,690 % Position5.00% $ Change-10.00% # Change-13.00%
Stck Ticker023135106 Stock NameAMAZON COM INC $ Position$22,803,500 % Position5.00% $ Change-21.00% # Change-26.00%
Stck Ticker090043100 Stock NameBILL HOLDINGS INC $ Position$20,627,040 % Position5.00% $ Change5.00% # Change37.00%
Stck Ticker11135F101 Stock NameBROADCOM INC $ Position$21,793,464 % Position5.00% $ Change-2.00% # Change-19.00%
Stck Ticker052769106 Stock NameAUTODESK INC $ Position$16,349,764 % Position4.00% $ Change # Change

Brochure Summary

Overview

Light Street is a Delaware limited liability company that was formed in 2010. Its Chief Investment Officer, founder, and controlling owner is Glen T. Kacher. Mr. Kacher’s ownership is through family trusts for which he serves as trustee. Light Street is the general partner and/or investment adviser to private investment funds (the “Funds”). It manages hedge funds (the “Hedge Funds”) and long-only funds (the “Long-Only Funds”) that invest principally in equity and equity-related securities that are traded publicly in U.S. and non-U.S. markets, venture funds (the “VC Funds”) that invest globally in private companies in the technology sector, and closed-end funds (the “Closed-End Funds”) each with a single investment that may fit within the investment mandate of the Hedge Funds, Long-Only Funds or VC Funds. Light Street only manages assets on a discretionary basis. As of December 31, 2023, Light Street had total discretionary assets under management of approximately $589,816,329. This number differs from Light Street’s “regulatory assets under management” reported on Form ADV Part 1 because it reflects the net value of the assets under management. “Regulatory assets under management” is a gross assets measurement adopted by the SEC that does not allow for deducting liabilities associated with borrowing securities to effect a short sale and other accrued but unpaid liabilities. Light Street believes that net assets better reflect the amount of assets it actually manages. Fund investors have no opportunity to select or evaluate any Fund investments or strategies. Light Street selects all Fund investments and strategies. Hedge Funds Certain Hedge Funds offer investors Series A, Series B, and Series C Units. The Hedge Funds no longer offer Series D Units, but certain investors continue to hold pre-existing Series D interests.
As of April 1, 2024, Light Street offers a new Hedge Fund product that invests in the applied technology sector, as that term is defined by Light Street (the “Photon Funds”). The Photon Funds offer investors Founders Units and standard Units. Investors in each Hedge Fund may withdraw as provided in each Hedge Fund’s offering documents, in each case on at least 45 days’ prior written notice of any permitted withdrawal date, subject to any early withdrawal fees. Long-Only Funds The Long-Only Funds offer investors Founders, Series A, Series B, and Series D Units. Investors in each Long-Only Fund may withdraw as provided in each Long-Only Fund’s offering documents, in each case on at least 45 days’ prior written notice of any permitted withdrawal date, subject to any applicable exit fees and investor-level gates. VC Funds The VC Funds have a fixed term with the ability to extend the term with the approval of each VC Fund’s general partner and the approval of a majority in interest of the limited partners or the VC Fund’s advisory committee. An investor in a VC Fund generally may not withdraw any of its capital account. Distributions are made at the general partner’s discretion, as provided in the VC Funds’ offering documents. Part 2A of Form ADV - Page 2 Some of the VC Funds are available only to Light Street, its members and employees, and certain friends of Light Street. These VC Funds pay Light Street no compensation. The descriptions above and elsewhere in this brochure refer to the VC Funds available broadly to outside investors. Closed-End Funds Investors in a Closed-End Fund generally may not withdraw any of their capital account. Distributions are made at the general partner’s discretion, as provided in the Closed-End Funds’ offering documents. The Closed-End Funds are closed to new investors.