Glen Kacher (Light Street Capital) disclosed 1 option position for the 2025Q1 quarter — 0 long-calls and 1 long-put — totaling $49.4M of underlying-share notional value. The largest exposures are a put on TSM. Notional values reflect the value of the underlying shares at the quarter-end snapshot, not the option premium paid.
| Type | Underlying | Shares | Notional | % of book |
|---|---|---|---|---|
| PUT | TSMTAIWAN SEMICONDUCTOR MFG LTD | 298K | $49.4M | 13.8% |
Notional = value of the underlying shares at the quarter-end snapshot, not the option premium paid. A long PUT is a bearish bet on the underlying; a long CALL is a bullish bet. The reported value is included in the portfolio total but does not reflect actual capital at risk.
Glen Kacher runs Light Street Capital, a hedge fund overseeing $649.8M in disclosed equity holdings (SEC CIK 0001569049). The latest portfolio (2025Q4) discloses 24 positions across 4 sectors, with the largest positions in TSM, CHYM and NVDA. On a mark-to-market basis the tracked portfolio has returned 35.9% over the past year. OpenStocks tracks 40 consecutive quarterly snapshots for this manager — every position change, new entry, and exit is logged below.