Letters by company
Taiwan Semiconductor Manufacturing CO LTD
14 letters discussing TSM. Everything written about it on this site is on its ticker page.
- Artisan Partners Artisan Global Opportunities Fund Quarterly Commentary Artisan Global Opportunities Fund trimmed AMD and Lam Research after valuations approached target ranges, while retaining conviction in AI infrastructure led by TSMC. It initiated GE Aerospace, Corning, STMicroelectronics and Robinhood, and exited Cencora, Lonza and Medline to redeploy capital toward earlier profit cycles. Q2 2026 AMD $1.1TBAESY $72BINSM $22B
- The London Company Market Observations & Portfolio Commentary International Equity – 2Q2026 vs MSCI EAFE The International Equity portfolio retained its quality-and-valuation discipline amid volatile markets, arguing that durable cash flows, pricing power and strong balance sheets should benefit as financial conditions tighten. It exited Burford Capital after its Argentina appeal loss, added to RELX and Willis Towers Watson, and maintained conviction in Taiwan Semiconductor, ICON, InterContinental Hotels, Nintendo and BAE Systems. 2Q2026 BAESY $72BICLR $13BIHG $24B
- Mar Vista Investment Partners U.S. Quality Premier Portfolio Commentary U.S. Quality Premier initiated ASML, exited Intuit and Ametek, added to Broadcom and GE Vernova, and trimmed several large holdings. The strategy argues that AI beneficiaries must convert infrastructure spending into earnings, while favoring GE Aerospace’s aftermarket cycle, Alphabet’s AI-led growth, TSM’s advanced-chip leadership, and QXO’s TopBuild acquisition. second quarter 2026 ASML $693BGOOGL $4.2TINTU $79B
- Chilton Capital Management Portfolio Insight | 2ND Quarter 2026 Chilton Capital Management argues that broad-based earnings revisions and the AI investment cycle support equities despite inflation and tighter-rate risks. Its REIT strategy increased office exposure during the selloff, added Blackstone Digital Realty, and favors data centers and other heavy-asset sectors with low obsolescence risk. 2ND Quarter 2026 BXP $9.5BSKHY $943BSSNLF $1688T
- Mar Vista Investment Partners U.S. Quality Portfolio Commentary Mar Vista initiated ASML and StandardAero, exited Intuit, added to Netflix, and trimmed several large technology and industrial holdings. It argues that aerospace aftermarket demand, semiconductor manufacturing bottlenecks, and commercially productive AI investment favor businesses with durable advantages and disciplined capital allocation. second quarter of 2026 APH $215BASML $693BINTU $79B
- Harding Loevner International Equity Second Quarter 2026 Report Harding Loevner trimmed Samsung Electronics, TSMC, ASML and other technology holdings as AI-driven semiconductor profits pushed valuations and concentration risk higher. The portfolio added Spotify, arguing that its scale and AI product development can defend its competitive position, while retaining selective exposure to memory and semiconductor equipment suppliers. Second Quarter 2026 035420 $21BNTES $76BSKHY $943B
- First Eagle Investments Overseas Fund Commentary Overseas Fund repositioned into international stocks viewed as attractively valued while maintaining a strategic gold allocation against geopolitical and debt risks. Samsung Electronics, Samsung Life, Merck KGaA, Taiwan Semiconductor and Richemont benefited from memory-chip demand, insurance economics, life-science expansion, AI-chip scarcity and resilient luxury demand. second quarter 2026 032830 $41BBABA $270BCFRHF $122B
- Wedgewood Partners Are Hyperscalers Still Magnificent? Wedgewood increased Alphabet, Amazon, Meta Platforms and Microsoft, arguing that AI capital spending compounds already high-return businesses while their private investments help offset DRAM inflation. The firm initiated Hermès, citing scarce artisan capacity, durable brand equity and pricing power, while maintaining position-size limits amid speculative semiconductor demand. Second Quarter 2026 GOOGL $4.2THMI $152BAMZN $2.7T
- RiverPark Funds RiverPark Long/Short Opportunity Fund First Quarter 2026 Performance Summary RiverPark Long/Short Opportunity Fund retained software longs including Microsoft, ServiceNow and Datadog, arguing that enterprise software coordinates institutional workflows and that AI is creating demand rather than displacing revenue. The fund exited Pinterest amid advertising weakness and increased short exposure while remaining cautious on richly valued semiconductor shares. First Quarter 2026 ADBE $90BADSK $46BAMAT $404B
- Cambiar Investors Cambiar International Equity Fund Commentary Cambiar International Equity Fund lagged its benchmark as an underweight technology allocation missed an AI-driven semiconductor rally, while patient holdings in Nintendo, Coloplast and MonotaRo hurt shorter-term results. The team added Canadian National Railway and MTU Aero Engines, sold Barry Callebaut, Icon and UCB, and maintained a diversified, valuation-conscious approach with greater Industrials exposure. 2Q 2026 CNI $72BICLR $13BLDNXF $52B
- Artisan Partners Artisan Global Opportunities Fund Quarterly Commentary Artisan Global Opportunities Fund added to Linde, Shopify, Amazon, Woodward and Spotify while opening positions in Edwards Lifesciences, Eli Lilly and Roblox. It exited Netflix, Snowflake and RELX as AI disruption, later-cycle risk or weaker conviction altered the opportunity set, while favoring AI infrastructure, health care and aerospace and defense. Q1 2026 AMZN $2.7TEW $48BGEV $274B
- Artisan Partners Artisan Global Opportunities Fund Quarterly Commentary Artisan Global Opportunities Fund added RTX, Capital One, Somnigroup, L3Harris and BAE Systems while exiting several Garden investments whose theses were not progressing. The portfolio emphasizes health care franchises, defense suppliers and AI infrastructure beneficiaries, while maintaining valuation discipline around Oracle and reducing Netflix, Snowflake and Boston Scientific. Q4 2025 ARGNF $59BBAESY $72BBSX $61B
- Sequoia Fund Annual Shareholder Report | December 31, 2025 Sequoia Fund trimmed several holdings on valuation, position-size and opportunity grounds, added to Ashtead Group, exited Jacobs Solutions and opened positions in MSA Safety, Accenture and Align Technology. Rolls-Royce, Alphabet, Taiwan Semiconductor Manufacturing, Eurofins Scientific and Charles Schwab led contributors, while Constellation Software and UnitedHealth Group were among detractors. year ended December 31, 2025 —
- Sequoia Fund Q3 2025 Sequoia Fund Letter Sequoia Fund trimmed Meta Platforms, Jacobs Engineering, Charles Schwab and Taiwan Semiconductor to add modestly to Elevance Health. The fund also initiated two investments, with names deferred until purchases are complete. third quarter of 2025 —
