Institutional 13F · Context Only · Never a Buy List机构 13F · 仅供背景参考 · 非买入清单
Light Street Capital
tiger_crossover
A
Reliability improving可靠性走强
leaderboard rank榜单排名 #11WATCH观察
Book持仓规模
$534M
long US listed only仅美股多头
Positions持仓数
23
91% resolved已解析
Top-10 concentration前十集中度
79%
% of book占组合%
Turnover换手
MED
28.2% per quarter每季
Median excess中位超额
-4%
buys vs SPY, since filing买入相对SPY，自申报起 · n 105
Hit rate胜率
47%
share of buys beating SPY跑赢SPY的买入占比
Core lean — the 10-second read核心倾向 — 10秒速读
Core lean: Compute — added TSM (+21.3pp of book this quarter)核心倾向：Compute — 本季度加仓 TSM（占组合 +21.3pp）
ComputeCompute
+21.3pp
21.3% of book held占组合持有
· 1 names标的
· Artificial Intelligence
TSM
ComputeCompute
+21.3pp
21.3% of book held占组合持有
· 1 names标的
· Semiconductors
TSM
FoundriesFoundries
+21.3pp
21.3% of book held占组合持有
· 1 names标的
· Semiconductors
TSM
Next-GenNext-Gen
+21.3pp
21.3% of book held占组合持有
· 1 names标的
· Hardware
TSM
ElectronicsElectronics
+21.3pp
21.3% of book held占组合持有
· 1 names标的
· Nanotechnology
TSM
Non-AI Software非AI软件
+5.6pp
5.6% of book held占组合持有
· 2 names标的
· Software
GTLB
DDOG
Descriptive read of the latest filing — themes clustered from curated baskets (Finviz fallback), added-pp = Σ % of book bought this quarter. Not a forecast.基于最新申报的描述性解读——主题按精选篮子聚类（Finviz 兜底），added-pp = 本季度买入占组合百分比之和。非预测。
Grade & excess history评级与超额历史
per-quarter buy cohorts, scored on public filing dates vs SPY — descriptive ranks in a curated survivor cohort按季度买入队列，以公开申报日为锚相对SPY评分——精选幸存者队列中的描述性排名Reliability可靠性: improving走强 · 12 scored quarters已评分季度 · 42% positive为正 · recent-4 median近4季中位 -9% vs all-time对全期 -14%
Median excess by quarter各季度中位超额: ▄▄▁▂▃█▂▂▂▂▃▃ (oldest → newest, shifted by the series minimum so negatives render由旧到新，按序列最小值平移以呈现负值)
| Quarter季度 | Buys买入数 | Median excess中位超额 | Hit胜率 | Median fwd 63d中位前瞻63日 |
|---|---|---|---|---|
| 2023-06-30 | 6 | +24% | 67% | +5% |
| 2023-09-30 | 5 | +41% | 60% | +17% |
| 2023-12-31 | 8 | -85% | 25% | -9% |
| 2024-03-31 | 8 | -22% | 38% | +6% |
| 2024-06-30 | 11 | -8% | 36% | +5% |
| 2024-09-30 | 6 | +152% | 67% | +11% |
| 2024-12-31 | 12 | -36% | 33% | -4% |
| 2025-03-31 | 9 | -24% | 44% | +4% |
| 2025-06-30 | 10 | -24% | 40% | -9% |
| 2025-09-30 | 11 | -19% | 36% | -13% |
| 2025-12-31 | 11 | +8% | 82% | +8% |
| 2026-03-31 | 8 | +0% | 50% | — |
Sector exposure & rotation行业配置与轮动
value-weighted, latest filing; QoQ deltas vs prior quarter按市值加权，最新申报；季度环比变化对上季Current weights当前权重 · 2026-03-31
Technology
79.9%
▲ +16.3pp
Financial
7.3%
▼ -3.2pp
Consumer Cyclical
4.9%
▲ +2.4pp
Unclassified
4.4%
▼ -3.0pp
Communication Services
2.3%
▼ -10.3pp
Utilities
1.3%
▼ -2.1pp
Theme categories主题类别
AI & Technology 34.3%
Semiconductors 5.3%
Software 4.7%
Semiconductors & Hardware 1.6%
Rotating into (QoQ)轮入（环比）
Technology +16.3pp
Consumer Cyclical +2.4pp
Rotating out of (QoQ)轮出（环比）
Communication Services -10.3pp
Financial -3.2pp
Utilities -2.1pp
Quarter history — top-3 sectors季度历史 — 前三大行业
| 2026-03-31 | Technology 80% · Financial 7% · Consumer Cyclical 5% |
| 2025-12-31 | Technology 64% · Communication Services 13% · Financial 10% |
| 2025-09-30 | Technology 74% · Unclassified 9% · Communication Services 7% |
| 2025-06-30 | Technology 77% · Communication Services 11% · Financial 5% |
| 2025-03-31 | Technology 81% · Communication Services 9% · Unclassified 5% |
| 2024-12-31 | Technology 84% · Communication Services 8% · Consumer Cyclical 5% |
| 2024-09-30 | Technology 83% · Consumer Cyclical 5% · Communication Services 5% |
| 2024-06-30 | Technology 85% · Consumer Cyclical 5% · Communication Services 5% |
| 2024-03-31 | Technology 79% · Communication Services 9% · Consumer Cyclical 7% |
| 2023-12-31 | Technology 83% · Consumer Cyclical 7% · Communication Services 5% |
| 2023-09-30 | Technology 72% · Communication Services 13% · Consumer Cyclical 9% |
| 2023-06-30 | Technology 66% · Communication Services 18% · Consumer Cyclical 11% |
Full book完整持仓
every resolved position as filed — click a column header to sort. Conviction is a descriptive composite, not a forecast.截至申报日的全部已解析持仓——点击列头排序。信念分为描述性综合指标，非预测。21 positions shown项持仓 · resolved已解析 21/23 (91%) · unresolved CUSIPs are excluded from this table but counted in book totals未解析CUSIP不列入本表，但计入组合总额
| #↕ | Ticker标的 ↕ | Company公司 ↕ | % book仓位% ↕ | Value金额 ↕ | Action动作 ↕ | Δ sharesΔ股数 ↕ | Add streak连加季数 ↕ | Conviction信念分 ↕ | Sector行业 ↕ | Themes主题 | Since filing自申报 ↕ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | TSM |
Taiwan Semiconductor Manufac | 21.3% | $114M | add | +26% | 1q | 75 · HIGH | Technology | Compute, Compute, Foundries | -1% |
| 2 |  NVDA |
Nvidia Corporation | 8.9% | $47M | trim | -20% | — | 68 · MODERATE | Technology | Magnificent Seven, AI Infrastructure, AI Semiconductors | -10% |
| 3 |  AVGO |
Broadcom Inc | 8.7% | $46M | hold | +4% | — | 67 · MODERATE | Technology | AI Infrastructure, AI Semiconductors, Technology (Equal-Weight) | -11% |
| 4 |  AMD |
Advanced Micro Devices Inc | 8.3% | $45M | hold | -0% | — | 65 · MODERATE | Technology | AI Infrastructure, AI Semiconductors, Technology (Equal-Weight) | +18% |
| 5 |  CHYM |
Chime Finl Inc | 7.3% | $39M | trim | -23% | — | 63 · MODERATE | Financial | — | — |
| 6 |  MKSI |
Mks Inc. | 5.3% | $28M | add | +524% | 2q | 72 · HIGH | Technology | Semiconductor Equipment (WFE) | +7% |
| 7 |  FROG |
Jfrog Ltd | 5.0% | $27M | add | +24% | 1q | 65 · MODERATE | Technology | DevOps, DevOps | — |
| 8 |  AMZN |
Amazon Com Inc | 4.9% | $26M | add | +80% | 2q | 68 · MODERATE | Consumer Cyclical | Magnificent Seven, Consumer Discretionary (Equal-Weight) | -6% |
| 9 | GTLB |
Gitlab Inc | 4.7% | $25M | add | +10% | 4q | 77 · HIGH | Technology | Non-AI Software | +44% |
| 10 |  BILL |
Bill Holdings Inc | 4.5% | $24M | trim | -29% | — | 45 · MODERATE | Technology | — | +12% |
| 11 |  CPNG |
Coupang Inc | 3.7% | $20M | new | — | 1q | 33 · LOW | Technology | E-Commerce, Grocery | +2% |
| 12 |  AMKR |
Amkor Technology Inc | 3.4% | $18M | add | +41% | 2q | 37 · LOW | Technology | Packaging | -11% |
| 13 |  GOOGL |
Alphabet Inc | 2.3% | $12M | trim | -68% | — | 25 · LOW | Communication Services | Magnificent Seven, AI Software & Platforms, Quantum Computing | -12% |
| 14 |  IOT |
Samsara Inc | 2.3% | $12M | new | — | 1q | 28 · LOW | Technology | Industrial IoT, Fleets, IoT | — |
| 15 |  BE |
Bloom Energy Corp | 1.3% | $7M | new | — | 1q | 27 · LOW | Utilities | Hydrogen | — |
| 16 |  NXPI |
Nxp Semiconductors N V | 0.9% | $5M | hold | +2% | — | 20 · LOW | Technology | Non-AI Tech & Hardware, Technology (Equal-Weight) | -9% |
| 17 | DDOG |
Datadog Inc | 0.9% | $5M | new | — | 1q | 23 · LOW | Technology | AI Software & Platforms, Non-AI Software, Technology (Equal-Weight) | +26% |
| 18 |  ADI |
Analog Devices Inc | 0.6% | $3M | hold | +3% | — | 17 · LOW | Technology | Non-AI Tech & Hardware, Technology (Equal-Weight) | -11% |
| 19 |  GDS |
Gds Hldgs Ltd | 0.5% | $3M | hold | +10% | — | 15 · LOW | Technology | — | -24% |
| 20 |  LITE |
Lumentum Hldgs Inc | 0.4% | $2M | new | — | 1q | 8 · LOW | Technology | AI Infrastructure, Technology (Equal-Weight) | -22% |
| 21 |  AMPL |
Amplitude Inc | 0.4% | $2M | trim | -80% | — | 12 · LOW | Technology | — | — |
Rotation detail轮动明细
this filing cycle, uncapped — adds/new and trims from the resolved book, exits from the rotation feed本申报周期，不设上限——新建/加仓与减持取自已解析持仓，清仓取自轮动数据Rotated into轮入 (11)
| TSM add |
21.3% | -1% |
| MKSI add |
5.3% | +7% |
| FROG add |
5.0% | — |
| AMZN add |
4.9% | -6% |
| GTLB add |
4.7% | +44% |
| CPNG new |
3.7% | +2% |
| AMKR add |
3.4% | -11% |
| IOT new |
2.3% | — |
| BE new |
1.3% | — |
| DDOG new |
0.9% | +26% |
| LITE new |
0.4% | -22% |
Rotated out of轮出 (10)
| NVDA trim |
-20% | -10% |
| CHYM trim |
-23% | — |
| BILL trim |
-29% | +12% |
| GOOGL trim |
-68% | -12% |
| AMPL trim |
-80% | — |
 AAPL exit |
-100% | +8% |
 CEG exit |
-100% | -6% |
 NFLX exit |
-100% | -23% |
 RDDT exit |
-100% | +14% |
 TEAM exit |
-100% | +10% |
Trade log交易记录
last 40 graded trades, filing-date anchored, newest first — variable hold vs SPY最近40笔已评分交易，以申报日为锚，最新在前——持有期不定，相对SPYNo graded trades available for this fund.该基金暂无已评分交易。
Caveats注意事项 —
13F = quarterly, ~45-day lag, long-only US listed ≥$100M. No shorts, no cash, no non-US positions. This desk is context — ownership is never a directional signal here.13F = 季度披露，约45天滞后，仅含美股多头且持仓≥1亿美元。不含空头、现金或非美股仓位。本台仅为背景参考——持仓数据在此永远不是方向性信号。
Grades and reliability are descriptive ranks within a curated survivor cohort — they measure what filings did after their filing dates, not a manager-selection edge. Conviction and core-lean reads are descriptive composites earning a forward record via the pre-registered ledger (L5); sector/theme classification applies the current map to history.评级与可靠性为精选幸存者队列中的描述性排名——衡量申报日之后持仓的表现，而非经理选择能力。信念分与核心倾向为描述性综合指标，通过预注册账本（L5）积累前瞻记录；行业/主题分类将当前映射应用于历史。