Light Street’s Reversal of Fortune

The firm’s long-short fund turned a fourth-quarter loss into a big gain in January.

Glen Kacher (Victor J. Blue/Bloomberg)

Glen Kacher

(Victor J. Blue/Bloomberg)

Light Street Capital’s long-short fund posted big gains in January, erasing losses from the fourth quarter, according to its letter to clients and two people with knowledge of the matter.

The firm’s Halogen fund gained 7.6 percent last month, recovering from a 5 percent loss in the final three months of 2019, according to Light Street’s fourth-quarter letter to clients, dated January 31.

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