In this article, we will take a look at Glen Kacher’s Light Street Portfolio: 10 Best Stocks to Buy.
Founded by Glen Kacher in 2010, Light Street Capital is a technology-focused hedge fund. The fund focuses on identifying long-term structural trends in software, semiconductors, internet platforms, and digital infrastructure and, accordingly, has invested in growth companies across the public and private sectors. According to its latest regulatory filings, the firm oversees approximately $1.1 billion in regulatory assets under management, including its equity portfolio. With its 13F holdings totaling $534.23 million, distributed across a relatively small number of high-conviction positions, the fund’s investment approach offers insights into areas where institutional capital continues to concentrate.
Such insights are useful in the current, shifting investment environment. On June 25, 2026, CNBC reported that the core personal consumption expenditures price index, the Federal Reserve’s preferred inflation gauge, went up to 3.4% year over year in May. Meanwhile, the Q1 U.S. GDP growth was revised upward to 2.1% from 1.6%. Heather Long, chief economist at Navy Federal Credit Union, cited higher energy prices linked to the Iran conflict and increased household spending on gasoline, healthcare, and utilities. Heather further added that Fed Chair Kevin Warsh has placed importance on restoring price stability. Consumer spending also surpassed expectations during May – an indicator of continued economic resilience despite elevated inflation.
Against this macroeconomic backdrop, identifying high-conviction stocks will help direct capital towards a resilient portfolio. And in this regard, we peeked into the positions of one of the most prominent hedge fund portfolios and brought to you a list of the 10 best stocks to buy from Glen Kacher’s Light Street portfolio.
Glen Kacher of Light Street Capital
Our Methodology
To compile our list of 10 Best Stocks to Buy in Glen Kacher’s Light Street Portfolio, we reviewed the firm’s 13F filing for Q1 2026. We filtered the list using the percentage of portfolio value each stock represents and ranked them accordingly. We limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. All the pricing data are current as of market close on July 4, 2026.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Insider Monkey’s quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 599.2% since May 2014, beating its benchmark by 372 percentage points (see more details here).
10. BILL Holdings, Inc. (NYSE:BILL)
Market value of shares owned: $23,937,500
% of portfolio: 4.48%
BILL Holdings, Inc. (NYSE:BILL) is one of the 10 Best Stocks to Buy in Glen Kacher’s Light Street Portfolio.
On June 22, 2026, TD Cowen initiated coverage of BILL Holdings, Inc. (NYSE:BILL) with a Buy rating. The firm has set a price target of $43 on the stock. According to TD Cowen’s research note, the firm views the company as a leading vendor of accounting management solutions, including accounts payable, accounts receivable, and expense management for small businesses. Pointing out that improving fundamentals and execution warrant multiple expansion, the firm expects a steadier upward momentum for the shares. TD Cowen believes these positive factors will overcome muted investor sentiment following a 40% year-to-date decline.
In contrast, earlier this month, on June 10, 2026, Truist downgraded the rating on BILL Holdings, Inc. (NYSE:BILL) from Buy to Hold. The firm held a price target of $35 on the stock, down from $45. Truist believes that an acquisition of BILL Holdings, Inc. (NYSE:BILL) is increasingly unlikely due to AI-driven uncertainty. The analyst notes its positive catalyst path is less clear, with core revenue growth likely to decline to low-teens next year during intensifying competition.
Founded in 2006, BILL Holdings, Inc. (NYSE:BILL) is a leading provider of cloud-based software that automates financial operations for small and midsize businesses (SMEs). Headquartered in California, the company’s platform streamlines accounts payable, accounts receivable, and spend management.
9. GitLab Inc. (NASDAQ:GTLB)
Market value of shares owned: $25,318,800
% of portfolio: 4.74%
GitLab Inc. (NASDAQ:GTLB) is one of the 10 Best Stocks to Buy in Glen Kacher’s Light Street Portfolio.
On June 10, 2026, GitLab Inc. (NASDAQ:GTLB) announced new enterprise-scale capabilities designed to optimize agent-driven software delivery. The updates aim at solving operational bottlenecks and compliance risks in addition to unpredictable costs associated with automated workflows. Key rollouts include Next Generation Source Code Management, which replaces repository clones with API access to speed up task execution by 50x while consuming fewer tokens; GitLab Orbit, which introduces a unified context graph and cuts token usage as well as reduces AI hallucinations; Governance for Agents introducing new AI auditing and compliance controls; and GitLab Flex that unifies platform seats and credits into a single, adaptable annual contract.
In a separate development, on the same day, GitLab Inc. (NASDAQ:GTLB) and Google Cloud (GOOG) have expanded their partnership to launch a managed DevSecOps platform delivered by the company-certified service providers. Building upon an April agreement, this collaboration aims to assist enterprises by ensuring smooth transitions to the company’s DevSecOps platform and architecture.
Founded in 2014, GitLab Inc. (NASDAQ:GTLB) is a leader in software development lifecycles. Based in California, the company provides a single, comprehensive DevSecOps platform that unifies planning, coding, security, and deployment into a streamlined workflow.
8. Amazon.com, Inc. (NASDAQ:AMZN)
Market value of shares owned: $25,992,096
% of portfolio: 4.87%
Amazon.com, Inc. (NASDAQ:AMZN) is one of the 10 Best Stocks to Buy in Glen Kacher’s Light Street Portfolio.
On July 1, 2026, Check Point Software Technologies launched its Cloud Firewall on the new AWS European Sovereign Cloud, expanding its partnership with Amazon.com, Inc. (NASDAQ:AMZN)’s Amazon Web Services (AWS). The AWS European Sovereign Cloud is an EU-based cloud infrastructure designed to help European enterprises and governments meet strict operational autonomy as well as data residency mandates. The new integration provides highly regulated organizations with prevention-first security and AI-powered threat intelligence across networks and applications.
In another development, on July 2, 2026, a Bloomberg article reported that Amazon.com, Inc. (NASDAQ:AMZN) is on track to launch its satellite broadband service later this year, following a successful United Launch Alliance (ULA) rocket deployment. The Atlas V launch on July 2 carried the latest batch of Amazon Leo satellites, bringing Amazon’s orbital fleet to over 390. According to company officials, this provides enough capacity to begin initial operations, potentially challenging SpaceX’s dominant Starlink network. While future missions plan to utilize ULA’s new Vulcan rocket, recent technical delays have kept the Atlas V as Amazon’s primary launch vehicle. Amazon.com, Inc. (NASDAQ:AMZN) constitutes about 4.87% of Light Street’s total portfolio value.
Founded in 1994, Amazon.com Inc. (NASDAQ:AMZN) operates across e-commerce, digital content, advertising, and cloud computing. The Washington-based company has invested heavily in vertical integration by designing its own specialized microprocessors, including Trainium and Inferentia, to scale AI models efficiently.
7. JFrog Ltd. (NASDAQ:FROG)
Market value of shares owned: $26,984,750
% of portfolio: 5.05%
JFrog Ltd. (NASDAQ:FROG) is one of the 10 Best Stocks to Buy in Glen Kacher’s Light Street Portfolio.
On June 25, 2026, JFrog Ltd. (NASDAQ:FROG) was initiated with a Buy at Benchmark. The price target for the stock is $100. The firm highlights that AI-assisted development, or “vibe coding,” is rapidly increasing software output and complexity. According to the analyst, this trend forces enterprises to seek a consolidated system of record. Subsequently, the analyst believes that the company’s artifact-centric software supply chain platform is structurally positioned to benefit from the AI-driven growth.
Separately, on July 2, 2026, UBS analyst Radi Sultan raised the price target on JFrog Ltd. (NASDAQ:FROG) from $92 to $110. Alongside the $18 raise in PT, the firm maintained a Buy rating on the stock. The analyst noted that the setup remained highly attractive for the investors despite the recent share price appreciation. Radi Sultan, also noted in the research note, that the company is poised for meaningful upward estimate revisions, supported by strong demand checks, limited competitive pressure, and significant tailwinds.
Founded in 2008, JFrog Ltd. (NASDAQ:FROG) is a software supply chain management company operating from its headquarters in California. The company creates Liquid Software pipelines through its marquee platform, JFrog Artifactory, which acts as the absolute system of record for securing, managing, and distributing binaries and AI assets.
6. MKS Inc. (NASDAQ:MKSI)
Market value of shares owned: $28,097,490
% of portfolio: 5.26%
MKS Inc. (NASDAQ:MKSI) is one of the 10 Best Stocks to Buy in Glen Kacher’s Light Street Portfolio.
On June 25, 2026, MKS Inc. (NASDAQ:MKSI) announced a $25 million expansion of its Atotech equipment manufacturing facility in Guangzhou, China. The expansion aiming to support the global AI build-out, is expected to be completed before the end of the fourth quarter of 2027. The project will add 323,000 square feet and double the site’s production capacity. With this investment, the company targets sustained growth in markets related to AI, such as semiconductors and advanced PCB applications. In addition to improving operational efficiency, the expanded facility is anticipated to shorten lead times as well as enhance technical collaboration across Asia.
In another event, BMO Capital initiated coverage of MKS Inc. (NASDAQ:MKSI) with an Outperform rating and set the price target on the stock at $453. The firm believes that MKS Inc. (NASDAQ:MKSI) is a leveraged beneficiary of the AI and data center buildout. The expanding chip capacity and materials intensity, induced by broad semiconductor and advanced packaging exposure, are anticipated to support sustained medium-term growth.
Founded in 1961, MKS Inc. (NASDAQ:MKSI) is a global advanced manufacturing technology leader. Headquartered in Massachusetts, the company offers instruments, systems, subsystems, and process control solutions to analyze, measure, and monitor the manufacturing process parameters to optimize productivity for its customers.
While we acknowledge the potential of MKSI to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MKSI and that has 100x upside potential, check out our report about the cheapest AI stock.
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