Taiwan Semiconductor (TSM) Boosted Giverny Capital Asset Management’s Performance in Q1

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Soumya Eswaran

Thu, June 18, 2026 astatine 6:51 AM CDT 3 min read

Giverny Capital Asset Management, LLC, an concern absorption company, precocious published its first-quarter 2026 capitalist letter. A transcript tin beryllium downloaded here. The exemplary portfolio fell 6.88% this quarter, compared to the S&P 500's 4.33% decline. Over the past year, the portfolio gained 8.52%, portion the scale accrued by 17.80%. Geopolitical conflicts and ostentation concerns drove quarterly volatility. Despite ongoing uncertainties, the steadfast remains assured that its portfolio companies volition prolong beardown net and support steadfast equilibrium sheets, focusing connected company-specific quality alternatively than short-term fluctuations. Additionally, you tin reappraisal the Portfolio's apical 5 holdings to spot its champion picks for 2026.

In its first-quarter 2026 capitalist letter, Giverny Capital Asset Management highlighted Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) arsenic a apical contributor to performance. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the world's starring declaration spot manufacturer, producing precocious semiconductors for large planetary exertion companies. On June 17, 2026, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) closed astatine $432.15 per share. One-month instrumentality of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) was 6.14%, and its shares gained 102.41% implicit the past 52 weeks. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has a marketplace capitalization of $2.24 trillion.

Giverny Capital Asset Management stated the pursuing regarding Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) successful its Q1 2026 capitalist letter:

"I don't judge quarterly results archer america a lot, but it's worthy noting Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) performed precise good erstwhile its starring customers specified arsenic Nvidia, Broadcom and Apple saw their valuations chopped during the quarter. TSMC has agelong traded astatine a PE aggregate discount to its customers, but the spread is narrowing."

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is successful 6th presumption connected our database of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 234 hedge money portfolios held Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) astatine the extremity of the archetypal quarter, up from 224 successful the erstwhile quarter. In Q1 2026, Taiwan Semiconductor Manufacturing Company Limited's (NYSE:TSM) revenue increased 6.4% (in U.S. dollar terms) sequentially to $35.9 billion, exceeding the guidance. While we admit the imaginable of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you're looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.

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