Apple Inc. (NASDAQ:AAPL) is Light Street Capital’s second largest holding. Kacher became more bullish on the technology giant during the fourth quarter, increasing his position by almost 50%. As of the latest filing, Light Street Capital holds 425,000 shares with a value of $47 million. Apple Inc. (NASDAQ:AAPL) shares rose 13.1% for the first quarter of 2015 on the strength of record iPhone 6 sales and quarterly revenue, in addition to the release of the new Apple Watch. Kacher’s bullish sentiment is in line with his former boss Julian Robertson of Tiger Management, who increased his position by 1,925%. Other billionaires with positions in Apple Inc. (NASDAQ:AAPL) include Ken Fisher and David Einhorn.
Of the top three holdings in Light Street Capital’s portfolio, YY Inc (ADR) (NASDAQ:YY) was likely the most frustrating one for Kacher. YY Inc is a social media platform that engages users in real-time online group activities through voice, text and video. Kacher increased his position in YY Inc (ADR) (NASDAQ:YY) by 7% during the first quarter to 560,800 shares at a value of almost $35 million and representing 6.2% of his firm’s 13F portfolio. Shares of YY Inc (ADR) (NASDAQ:YY) fell 12.5% in the first quarter of 2015. Phillippe Laffont’s Coatue Management is a big holder in the stock, as well as Morgan Sze’s Azentus Capital Management and Alex Sacerdote’s Whale Rock Capital Management.
Vipshop Holdings Ltd – ADR (NYSE:VIPS) appears to be Kacher’s biggest conviction buy as he increased his firm’s position in the Chinese online discount retailer by 950%. At the beginning of 2015 Light Street Capital held 1.15 million shares at a value of $22.5 million representing 4% of its equity portfolio. The stock rose a massive 50.67% during the first quarter after solid fourth quarter results in which the retailer reported a 122% increase in revenues and 150% increase in active customers during 2014. The bullish sentiment on Vipshop Holdings Ltd – ADR (NYSE:VIPS) is again in line with Julian Robertson’s Tiger Management, which also increased its position, as well as Stephen Mandel’s Lone Pine Capital.
Kacher’s buying spree didn’t just stay in the U.S. and China. He also liked Russia at a time when investors were fleeing the country. Kacher’s pick was Yandex NV (NASDAQ:YNDX), a Russian internet search provider. In the fourth quarter of 2014, Kacher increased his position in the company by 37% compared to the previous quarter, giving him a total of 1.23 million shares at a value of $22.0 million, representing 3.92% of the 13F portfolio. Billionaire Tiger cub John Griffin of Blue Ridge Capital is one of the largest holders of Yandex NV (NASDAQ:YNDX) among the funds we follow. Jim Simon’s Renaissance Technologies also ranks as one of Yandex NV (NASDAQ:YNDX)’s largest shareholders. For the first quarter of 2015, Yandex shares fell by 15.5%.
Disclosure: None
