Light Street Capital’s Returns, AUM, and Holdings

At the end of the third quarter, Light Street Capital’s equity portfolio was valued at $1.47 billion after several changes were made to it during the period, including adding four new companies and dumping six. The most valuable position it held was in Wayfair Inc (NYSE:W), counting 1.11 million shares, with a value of $164.36 million. The e-commerce company, which sells home goods, was previously known as CSN Stores. Since the beginning of the year, the company’s stock has gained 32.73%, and it is currently trading at $107.54. The fund’s second-largest holding at the end of Q3 was Yandex NV (NASDAQ:YNDX), with its position in the company being worth $106.53 million, counting 3.24 million shares.

Light Street’s third-biggest stake was in the company that was also the third most popular stock among hedge funds in Q3 of 2018. We are talking about Amazon.com, Inc. (NASDAQ:AMZN), 51,608 shares of which valued at $103.37 million were owned by the fund at the end of Q3 of 2018. Over the past 12 months, the company’s stock has gained 40%.

Among the biggest new additions to the fund’s portfolio was the aforementioned Farfetch Ltd (NYSE:FTCH), in which the company established a position that was valued at $39.65 million and counted 1.46 million shares. This new position accounted for 2.7% of the fund’s 13F portfolio value. It is interesting to note that since Glen Kacher pitched Farfetch at the conference, the company’s stock has gained 9.3%. Furthermore, another big new addition was Universal Display Corporation (NASDAQ:OLED), 229,840 shares of which the fund purchased in Q3, acquiring a position that was worth around $27.10 million on September 30. Universal Display Corporation is a company that produces organic light emitting diodes and provides various services to the lighting and display industries. Year-to-date, the company’s stock has lost 44.74%. The number of investors from Insider Monkey’s database long Universal Display Corporation dropped by 2 in recent months, as on September 30 there were 20 hedge funds bullish on the stock.

The fund lost faith in some of its former holdings and decided to sell them during the quarter. Among the biggest dropped stakes were those in Match Group Inc (NASDAQ:MTCH), Dropbox Inc (NASDAQ:DBX), and Facebook, Inc. (NASDAQ:FB). Light Street Capital said goodbye to 850,000 Match Group shares which had been valued at $32.93 million on June 30, as well as 873,405 Dropbox shares worth $28.32 million, and 139,012 Facebook shares with a value of $27.02 million.

Disclosure: None

This article was originally published at Insider Monkey.