5 Best Stocks to Buy in Glen Kacher’s Light Street Portfolio

3. Broadcom Inc. (NASDAQ:AVGO)

Market value of shares owned: $46,364,598

% of portfolio: 8.68%

Broadcom Inc. (NASDAQ:AVGO) is one of the 10 Best Stocks to Buy in Glen Kacher’s Light Street Portfolio.

On June 29, 2026, Broadcom Inc. (NASDAQ:AVGO) saw notable insider selling with the company’s Chief Legal & Corporate Affairs Officer, Mark Brazeal, parting with $9.7 million in stock at $387 per share. The sales reduced Mark’s stake by 17%. Over the past year, insider sales in Broadcom Inc. (NASDAQ:AVGO) have outpaced purchases, led by President Hock Tan’s $50 million divestment at $337 per share. However, even amid the net outflows, the company’s total insider ownership remains significant at 1.1%, representing approximately $20 billion in equity.

Prior to this, on June 24, 2026, OpenAI, together with Broadcom Inc. (NASDAQ:AVGO) unveiled “Jalapeño,” OpenAI’s first custom Intelligence Processor designed for large language model inference. The accelerator was co-developed in under nine months and aims to exceed the current state-of-the-art performance-per-watt efficiency. Hock Tan, President and CEO at Broadcom Inc. (NASDAQ:AVGO), gave the following statement:

By co-developing our industry-leading silicon directly with OpenAI, we are enabling the deployment of gigawatt scale data centers with Microsoft and other partners beginning in 2026.

The global technology company, Broadcom Inc. (NASDAQ:AVGO), designs, develops, and supplies a broad portfolio of semiconductor and infrastructure software products. Initially established in 1961 as a division of Hewlett-Packard, it now operates as a combined entity following a 2016 acquisition. The company has its headquarters in California.