Light Street Capital's AI Stock Portfolio
Glen Kacher's Tiger-lineage fund focused on global internet and technology companies, with a public AI supercycle thesis. This page filters Light Street Capital Management's Q2 2026 13F filing through the Supercycle universe: 22 of its reported positions are AI buildout companies, together 83.2% of the portfolio by value.
From the 13F-HR filed for the quarter ended . 13F filings cover long US-listed positions only and lag the quarter by up to 45 days; positions may have changed since. Not investment advice.
AI holdings, scored
| # | Holding | Value | % of portfolio | AI score | Layer | Q/Q |
|---|---|---|---|---|---|---|
| 1 | TSMTaiwan Semiconductor | $107.91M | 12.7% | 78 | Chip Equipment & Foundries | Trimmed -1% |
| 2 | AMDAdvanced Micro Devices | $63.61M | 7.5% | 75 | Semiconductors | Trimmed -50% |
| 3 | ALABAstera Labs | $60.74M | 7.1% | 92 | Networking & Optics | New |
| 4 | GTLBGitLab | $59.38M | 7.0% | 25 | AI Applications | Added +66% |
| 5 | AVGOBroadcom | $57.89M | 6.8% | 78 | Semiconductors | Added +2% |
| 6 | AMKRAmkor Technology | $51.46M | 6.0% | 52 | Semiconductors | Added +47% |
| 7 | FROGJFrog | $46.76M | 5.5% | 28 | AI Applications | Trimmed -11% |
| 8 | MKSIMKS | $46.17M | 5.4% | 55 | Chip Equipment & Foundries | Trimmed -15% |
| 9 | RDDTReddit | $31.68M | 3.7% | 32 | AI Software & Platforms | New |
| 10 | NVDANVIDIA | $27.36M | 3.2% | 97 | Semiconductors | Trimmed -50% |
| 11 | BEBloom Energy | $25.48M | 3.0% | 70 | Power & Energy | Added +66% |
| 12 | ASMLASML Holding | $21.80M | 2.6% | 70 | Chip Equipment & Foundries | Added +0% |
| 13 | CLBTCellebrite DI | $19.17M | 2.3% | 25 | Defense & Aerospace AI | Added +105% |
| 14 | SNOWSnowflake | $17.82M | 2.1% | 45 | Cloud & Hyperscalers | New |
| 15 | MDBMongoDB | $16.80M | 2.0% | 35 | Cloud & Hyperscalers | New |
| 16 | GOOGLAlphabet | $15.24M | 1.8% | 70 | Cloud & Hyperscalers | Added +0% |
| 17 | AMZNAmazon | $12.16M | 1.4% | 58 | Cloud & Hyperscalers | Trimmed -59% |
| 18 | DDOGDatadog | $10.41M | 1.2% | 35 | AI Applications | Unchanged |
| 19 | NXPINXP Semiconductors | $6.46M | 0.8% | 22 | Semiconductors | Trimmed -10% |
| 20 | ADIAnalog Devices | $4.18M | 0.5% | 12 | Semiconductors | Added +0% |
| 21 | QNTQuantinuum | $2.88M | 0.3% | 30 | Quantum Computing | New |
| 22 | GDSGDS Holdings | $2.16M | 0.3% | 65 | Data Centers & Hardware | Added +0% |
Options positions
The filing also reports these put and call option positions, including any on underlyings outside the tracked universe (an index put is a hedge on the whole book). They are shown separately and excluded from every figure above: a 13F reports an option at the market value of the shares it covers, not what the fund paid, and puts are bets against a name, not holdings of it.
| Type | Underlying | Underlying value | Shares covered |
|---|---|---|---|
| Put | TSMTaiwan Semiconductor | $52.15M | 109,200 |
Where the AI money sits in the buildout
What changed: Q1 2026 to Q2 2026
- Trimmed TSM (-1% shares)
- Trimmed AMD (-50% shares)
- New ALAB
- Added GTLB (+66% shares)
- Added AVGO (+2% shares)
- Added AMKR (+47% shares)
- Trimmed FROG (-11% shares)
- Trimmed MKSI (-15% shares)
- New RDDT
- Trimmed NVDA (-50% shares)
- Added BE (+66% shares)
- Added ASML (+0% shares)
- Added CLBT (+105% shares)
- New SNOW
- New MDB
- Added GOOGL (+0% shares)
- Trimmed AMZN (-59% shares)
- Trimmed NXPI (-10% shares)
- Added ADI (+0% shares)
- New QNT
- Added GDS (+0% shares)
- Exited IOT (was $12.17M)
- Exited LITE (was $2.03M)
Frequently asked questions
What is Light Street Capital's biggest AI stock?
In the Q2 2026 13F, Light Street Capital Management's largest tracked AI position is Taiwan Semiconductor (TSM) at $107.91M, 12.7% of the reported portfolio. TSM carries an AI Exposure Score of 78.
How much of Light Street Capital's portfolio is in AI stocks?
83.2% of Light Street Capital Management's Q2 2026 13F value ($707.49M of $850.69M) is in companies in the Supercycle AI universe, with a value-weighted AI Exposure Score of 60 (Strategic tier).
What did Light Street Capital change last quarter?
Between Q1 2026 and Q2 2026: trimmed TSM, trimmed AMD, new ALAB, added GTLB, added AVGO, added AMKR, trimmed FROG, trimmed MKSI, new RDDT, trimmed NVDA, added BE, added ASML, added CLBT, new SNOW, new MDB, added GOOGL, trimmed AMZN, trimmed NXPI, added ADI, new QNT, added GDS, exited IOT, exited LITE.