Taiwan Semiconductor Mfg. (TSM) in Ruane Cunniff's Sequoia Fund Q2 2024

Strategic Trimming Amidst Strong Market Position

Apr 15, 2025

Summary

Continues to be a leader in semiconductor manufacturing with advanced technology nodes.
Faced with geopolitical risks and supply chain challenges.
Recent trimming of holdings reflects strategic portfolio management.
Strong demand for chips in AI and automotive sectors supports future growth.

In Ruane Cunniff (Trades, Portfolio)'s Sequoia Fund 2nd-Quarter Letter 2024 Q2, Taiwan Semiconductor Mfg. (TSM, Financial) was highlighted as a significant holding that underwent strategic trimming. The fund's decision reflects a tactical approach to managing exposure while recognizing TSM's pivotal role in the semiconductor industry.

"We trimmed our holdings in Taiwan Semiconductor and added opportunistically to Charter Communications, a company we’ve owned for several years indirectly through our holdings in Liberty Broadband." — Ruane Cunniff (Trades, Portfolio) Investment Committee, Sequoia Fund Q2 2024 Fund Letter

Read full letter at gurufocus Ruane Cunniff's Sequoia Fund 2nd-Quarter Letter 2024 Q2 page.

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