Light Street Capital, led by Glen Kacher, has shown resilience in a challenging market environment, remaining one of the top performers this year.
The firm's long-short fund gained 5.78 percent in October, bringing its year-to-date return to 53.26 percent. Despite a setback in the third quarter, the fund stands out as potentially the best-performing Tiger-related fund.
Light Street's long-only fund also had positive momentum, gaining 3.84 percent in October and achieving a year-to-date return of 39.85 percent.
The firm strategically focuses on the technology sector, particularly artificial intelligence and semiconductor companies. Nvidia and Taiwan Semiconductor Manufacturing Company (TSMC) are the firm's largest holdings. Nvidia rebounded significantly and will be joining the Dow 30 Industrials. TSMC saw its shares rise in October. Light Street has also expanded its portfolio with Celestica and Advanced Micro Devices (AMD).
The firm fully liquidated its positions in Microsoft and Alphabet during the second quarter.
Light Street's performance this year is noteworthy given the challenging market environment. The firm's focus on high-growth sectors positions it well for future success.