Institutional 13F · Context Only · Never a Buy List机构 13F · 仅供参考 · 非买入清单
Light Street Capital
tiger_crossover
A
Reliability improving可靠性走强
leaderboard rank榜单排名 #15WATCH观察
Book持仓规模
$903M
long US listed only仅美股多头
Positions持仓数
27
93% resolved已解析
Top-10 concentration前十集中度
69%
% of book占组合%
Turnover换手
MED
28.8% per quarter每季
Median excess中位超额
-5%
buys vs SPY, since filing买入相对SPY，自披露起 · n 140
Hit rate胜率
46%
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: Non-AI Software — added GTLB, SNOW, MDB (+10.4pp of book this quarter)核心倾向：非AI软件 — 本季度加仓 GTLB、SNOW、MDB（占组合 +10.4pp）
Non-AI Software非AI软件
+10.4pp
11.6% of book held占组合持有
· 4 names标的
· Software
GTLB
SNOW
MDB
AI SemiconductorsAI半导体
+6.7pp
23.2% of book held占组合持有
· 4 names标的
· Semiconductors
ALAB
E-CommerceE-Commerce
+6.3pp
6.3% of book held占组合持有
· 2 names标的
· Software
CPNG
MELI
PackagingPackaging
+5.7pp
5.7% of book held占组合持有
· 1 names标的
· Semiconductors
AMKR
GroceryGrocery
+3.9pp
3.9% of book held占组合持有
· 1 names标的
· E-commerce
CPNG
Payments & Fintech支付与金融科技
+3.6pp
3.6% of book held占组合持有
· 1 names标的
· Financials
TOST
Descriptive read of the latest filing — themes clustered from curated baskets (Finviz fallback), added-pp = Σ % of book bought this quarter. Not a forecast.基于最新披露的描述性解读——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，以公开披露日为锚相对SPY评分——精选幸存者队列中的描述性排名Reliability可靠性: improving走强 · 13 scored quarters已评分季度 · 46% positive为正 · recent-4 median近4季中位 +1% vs all-time对全期 -1%
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 | 8 | +8% | 62% | +3% |
| 2023-09-30 | 7 | +91% | 57% | +18% |
| 2023-12-31 | 9 | -65% | 33% | -13% |
| 2024-03-31 | 9 | -37% | 33% | +4% |
| 2024-06-30 | 14 | +9% | 57% | +8% |
| 2024-09-30 | 9 | +139% | 67% | +11% |
| 2024-12-31 | 14 | -36% | 29% | -4% |
| 2025-03-31 | 10 | -33% | 30% | +4% |
| 2025-06-30 | 12 | -14% | 33% | -9% |
| 2025-09-30 | 12 | +4% | 58% | -7% |
| 2025-12-31 | 13 | +3% | 54% | +6% |
| 2026-03-31 | 11 | -3% | 46% | +1% |
| 2026-06-30 | 12 | -1% | 42% | — |
Sector exposure & rotation行业配置与轮动
value-weighted, latest filing; QoQ deltas vs prior quarter按市值加权，最新披露；季度环比变化对上季Current weights当前权重 · 2026-06-30
Technology
69.5%
▼ -10.4pp
Unclassified
12.6%
▲ +8.2pp
Financial
8.6%
▲ +1.3pp
Communication Services
5.2%
▲ +2.9pp
Utilities
2.8%
▲ +1.5pp
Consumer Cyclical
1.4%
▼ -3.5pp
Theme categories主题类别
AI & Technology 23.0%
Semiconductors 11.8%
Software 8.4%
Financials 3.6%
Semiconductors & Hardware 1.2%
Rotating into (QoQ)轮入（环比）
Communication Services +2.9pp
Utilities +1.5pp
Financial +1.3pp
Rotating out of (QoQ)轮出（环比）
Technology -10.4pp
Consumer Cyclical -3.5pp
Quarter history — top-3 sectors季度历史 — 前三大行业
| 2026-06-30 | Technology 69% · Unclassified 13% · Financial 9% |
| 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 82% · Consumer Cyclical 7% · Unclassified 5% |
| 2023-09-30 | Technology 69% · Communication Services 13% · Consumer Cyclical 9% |
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.截至披露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。25 positions shown项持仓 · resolved已解析 25/27 (93%) · 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自披露 ↕ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 |  TSM |
Taiwan Semiconductor Manufac | 17.7% | $160M | hold | -0% | — | 70 · HIGH | Technology | Compute, Compute, Foundries | -1% |
| 2 |  AMD |
Advanced Micro Devices Inc | 7.0% | $64M | trim | -50% | — | 69 · MODERATE | Technology | AI Infrastructure, AI Semiconductors, Technology (Equal-Weight) | -1% |
| 3 | ALAB |
Astera Labs Inc | 6.7% | $61M | new | — | 1q | 72 · HIGH | — | AI Semiconductors | -18% |
| 4 | GTLB |
Gitlab Inc | 6.6% | $59M | add | +66% | 5q | 86 · HIGH | Technology | Non-AI Software | +23% |
| 5 |  AVGO |
Broadcom Inc | 6.4% | $58M | hold | +2% | — | 64 · MODERATE | Technology | AI Infrastructure, AI Semiconductors, Technology (Equal-Weight) | -11% |
| 6 | AMKR |
Amkor Technology Inc | 5.7% | $51M | add | +47% | 3q | 78 · HIGH | Technology | Packaging | -21% |
| 7 |  FROG |
Jfrog Ltd | 5.2% | $47M | trim | -10% | — | 62 · MODERATE | Technology | DevOps, DevOps | -7% |
| 8 |  MKSI |
Mks Inc. | 5.1% | $46M | trim | -15% | — | 60 · MODERATE | Technology | Semiconductor Equipment (WFE) | -24% |
| 9 |  CHYM |
Chime Finl Inc | 5.0% | $45M | hold | +6% | — | 59 · MODERATE | Financial | — | +6% |
| 10 | CPNG |
Coupang Inc | 3.9% | $35M | add | +92% | 2q | 67 · MODERATE | Technology | E-Commerce, Grocery | -2% |
| 11 | TOST |
Toast Inc | 3.6% | $32M | new | — | 1q | 36 · LOW | Financial | Payments & Fintech | -1% |
| 12 |  RDDT |
Reddit Inc | 3.5% | $32M | new | — | 1q | 45 · LOW | Communication Services | Networks, Advertising, Niche | +0% |
| 13 |  NVDA |
Nvidia Corporation | 3.0% | $27M | trim | -50% | — | 28 · LOW | Technology | Magnificent Seven, AI Infrastructure, AI Semiconductors | -5% |
| 14 |  BE |
Bloom Energy Corp | 2.8% | $25M | add | +66% | 2q | 37 · LOW | Utilities | Hydrogen | +20% |
| 15 | MELI |
Mercadolibre Inc | 2.4% | $22M | new | — | 1q | 40 · LOW | Technology | E-Commerce, Marketplaces | +8% |
| 16 | SNOW |
Snowflake Inc | 2.0% | $18M | new | — | 1q | 29 · LOW | Technology | AI Software & Platforms, Non-AI Software | +2% |
| 17 | MDB |
Mongodb Inc | 1.9% | $17M | new | — | 1q | 28 · LOW | Technology | Non-AI Software | -11% |
| 18 |  GOOGL |
Alphabet Inc | 1.7% | $15M | hold | +0% | — | 21 · LOW | Communication Services | Magnificent Seven, AI Software & Platforms, Quantum Computing | +3% |
| 19 |  AMZN |
Amazon Com Inc | 1.4% | $12M | trim | -59% | — | 20 · LOW | Consumer Cyclical | Magnificent Seven, Consumer Discretionary (Equal-Weight) | -1% |
| 20 |  DDOG |
Datadog Inc | 1.1% | $10M | hold | +0% | — | 18 · LOW | Technology | AI Software & Platforms, Non-AI Software, Technology (Equal-Weight) | -5% |
| 21 |  DRAM |
Roundhill Etf Trust | 1.0% | $9M | new | — | 1q | 12 · LOW | — | — | -1% |
| 22 |  NXPI |
Nxp Semiconductors N V | 0.7% | $6M | hold | -10% | — | 16 · LOW | Technology | Non-AI Tech & Hardware, Technology (Equal-Weight) | -2% |
| 23 |  ADI |
Analog Devices Inc | 0.5% | $4M | hold | +0% | — | 14 · LOW | Technology | Non-AI Tech & Hardware, Technology (Equal-Weight) | -6% |
| 24 |  QNT |
Quantinuum Inc | 0.3% | $3M | new | — | 1q | 8 · LOW | — | Quantum Computing | -24% |
| 25 |  GDS |
Gds Hldgs Ltd | 0.2% | $2M | hold | +0% | — | 11 · LOW | Technology | — | -13% |
Rotation detail轮动明细
this filing cycle, uncapped — adds/new and trims from the resolved book, exits from the rotation feed本披露周期，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 (12)
| ALAB new |
6.7% | -18% |
| GTLB add |
6.6% | +23% |
| AMKR add |
5.7% | -21% |
| CPNG add |
3.9% | -2% |
| TOST new |
3.6% | -1% |
| RDDT new |
3.5% | +0% |
| BE add |
2.8% | +20% |
| MELI new |
2.4% | +8% |
| SNOW new |
2.0% | +2% |
| MDB new |
1.9% | -11% |
| DRAM new |
1.0% | -1% |
| QNT new |
0.3% | -24% |
Rotated out of轮出 (9)
| AMD trim |
-50% | -1% |
| FROG trim |
-10% | -7% |
| MKSI trim |
-15% | -24% |
| NVDA trim |
-50% | -5% |
| AMZN trim |
-59% | -1% |
 AMPL exit |
-100% | +1% |
 BILL exit |
-100% | -1% |
 IOT exit |
-100% | +3% |
 LITE exit |
-100% | -12% |
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，以披露日为锚，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, reported long positions from managers with at least $100M in Section 13(f) securities. 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——衡量披露日之后持仓的表现，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。