TSM
LONGINSIDER BUYINSIDER SELLCONGRESS BUYTAIWAN SEMICONDUCTOR MANUFAC
Research: Finviz ↗·Perplexity ↗
🗄 Viewing archived Q1 2026 data — frozen, no longer refreshed.
News Summary
PositiveTSMC delivered exceptional earnings beats in Q1 and Q2 2026 with massive revenue growth (35-37% YoY), record-high gross margins (66-68%), and dramatically raised full-year guidance to 40%+ revenue growth. However, significant margin headwinds are emerging: management flagged 3-4% dilution from 2nm ramp and 2-3% from overseas fab expansion, with Q3 gross margin expected to decline, and capex nearly doubled to $60-64B annually, straining cash generation.
Red flags
- •Gross margin compression expected in Q3 2026 and beyond due to 2nm technology ramp (3-4% dilution) and international fab buildout (2-3% dilution)
- •Capex guidance increased 16-23% to $60-64B annually—near-doubling over prior guidance—creating significant cash deployment risk and extended payback periods
- •Overseas fab execution risk: TSMC ramping Arizona, Japan, and Europe simultaneously while managing margin dilution; any delays or overruns could impair returns
- •Q3 gross margin guided at 65-67%, down from Q2's 67.7%, signaling the margin compression cycle has begun
Funds Buying (8)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Coatue Management | Philippe Laffont | 9.3M | +654K | $3.1B | 10.8% | +8% | Existing |
| Tiger Global | Chase Coleman | 5.6M | +1.8M | $1.9B | 8.2% | +49% | Existing |
| Point72 | Steve Cohen | 1.9M | +1.9M | $628M | 1.1% | — | NEW |
| Altimeter Capital | Brad Gerstner | 1.4M | +146K | $462M | 8.1% | +12% | Existing |
| Appaloosa LP | David Tepper | 1.3M | +198K | $449M | 7.6% | +17% | Existing |
| Soros Fund Management | Soros Family Office | 522K | +172K | $177M | 2.4% | +49% | Existing |
| D1 Capital | Dan Sundheim | 329K | +329K | $111M | 1.0% | — | NEW |
| Situational Awareness LP | Leopold Aschenbrenner | 22K | +22K | $8M | 0.2% | — | NEW |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter. % of Fund is the position's share of the fund's reported equity portfolio — it drives the size weighting in the conviction score.
Portfolio Context
Where TSM ranks in each buying fund's book, and the positions immediately around it. What a holding sits next to often says more about the thesis than the position size does.
position #1 of this fund's book
- 1TAIWAN SEMICONDUCTOR MANUFAC$3,137M
- 2GE VERNOVA INC$2,245M
- 3LAM RESEARCH CORP$2,146M
- 4APPLIED MATLS INC$1,794M
position #4 of this fund's book
- 1ALPHABET INC$3,057M
- 2NVIDIA CORPORATION$2,095M
- 3AMAZON COM INC$2,083M
- 4TAIWAN SEMICONDUCTOR MANUFAC$1,881M
- 5META PLATFORMS INC$1,766M
- 6SEA LTD$1,277M
- 7BROADCOM INC$1,110M
position #4 of this fund's book
- 1NVIDIA CORPORATION$1,628M
- 2META PLATFORMS INC$1,118M
- 3UBER TECHNOLOGIES INC$573M
- 4TAIWAN SEMICONDUCTOR MFG LTD$462M
- 5MICROSOFT CORP$438M
- 6AMAZON COM INC$435M
- 7COREWEAVE INC$349M
position #5 of this fund's book
- 2MICRON TECHNOLOGY INC$563M
- 3ALPHABET INC$497M
- 4UBER TECHNOLOGIES INC$456M
- 5TAIWAN SEMICONDUCTOR MANUFAC$449M
- 6ALIBABA GROUP HLDG LTD$435M
- 7VISTRA CORP$304M
- 8ISHARES INC$295M
position #7 of this fund's book
- 4NVIDIA CORPORATION$187M
- 5BILL HOLDINGS INC$187M
- 6PG&E CORP$182M
- 7TAIWAN SEMICONDUCTOR MANUFAC$177M
- 8ALPHABET INC$165M
- 9JAZZ INVESTMENTS I LTD$158M
- 10RIVIAN AUTOMOTIVE INC$154M
position #8 of this fund's book
- 5CREDO TECHNOLOGY GROUP HOLDI$702M
- 6BROADCOM INC$701M
- 7TERADYNE INC$677M
- 8TAIWAN SEMICONDUCTOR MANUFAC$628M
- 9APPLIED MATLS INC$587M
- 10EQUINIX INC$524M
- 11META PLATFORMS INC$520M
position #21 of this fund's book
- 18PROPETRO HLDG CORP$13M
- 19VANECK ETF TRUST$10M
- 20INTEL CORP$9M
- 21TAIWAN SEMICONDUCTOR MANUFAC$8M
- 22HIVE DIGITAL TECHNOLOGIES LT$6M
- 23ASML HLDG NV N Y REGISTRY$6M
- 24MICRON TECHNOLOGY INC$6M
position #35 of this fund's book
- 32SHERWIN WILLIAMS CO$152M
- 33ALPHABET INC$135M
- 34APOLLO GLOBAL MGMT INC$129M
- 35TAIWAN SEMICONDUCTOR MANUFAC$111M
- 36LIVE NATION ENTERTAINMENT IN$103M
- 37ANALOG DEVICES INC$93M
- 38AFFIRM HLDGS INC$89M
Values are quarter-end position sizes. Shown only for funds where TSM ranks inside their 40 largest equity positions — below that, neighbouring names carry no signal. Adjacency is an inference about a fund's reasoning, not a disclosure of it.
Signal History
| Quarter | Direction | Funds | Score | vs SPY |
|---|---|---|---|---|
| Q2 2026 | LONG | 5 | 7.33 | -15.0% |
| Q1 2026 | LONG | 8 | 10.70 | +6.8% |
Same issuer appearing in consecutive quarters — persistent institutional conviction. Returns are frozen at each archived quarter's last refresh.
Insider Activity
| Name | Title | Type | Shares | Price | Value | Filed | Src |
|---|---|---|---|---|---|---|---|
| Lee Chun-Hsien | SVP | BUY | 54 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Zhang Kevin Xiaoqiang | SVP and Deputy Co-COO | BUY | 63 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Yuan Lipen | VP | BUY | 42 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Wu Yi-Huang | VP | BUY | 41 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Yoo Chue-San | VP | BUY | 51 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Mii Yuh-Jier | EVP and Co-COO | BUY | 72 | $73.31 | $0.01M | 2026-08-07 | ↗ |
| Wang Ying-Lang | SVP | BUY | 55 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Wei Che-Chia | Chairman and CEO | BUY | 152 | $73.31 | $0.01M | 2026-08-07 | ↗ |
| Wu Shien-Yang | SVP | BUY | 57 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Tien Bor-Zen | VP | BUY | 42 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Tien Bor-Zen | VP | BUY | 7 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Lin Chris Horng-Dar | VP and CIO | BUY | 49 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Lu Lee-Chung | VP | BUY | 52 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Lin Shyue-Shyh | VP | BUY | 47 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Yeap Choh Fei | SVP | BUY | 57 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Lu Chin-Sheng | VP | BUY | 39 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Jang Syun-Ming | VP | BUY | 50 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Hsu Kuo-Chin | VP | BUY | 54 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Huang Jen-Chau | SVP and CFO | BUY | 29 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Hwang Yuan-Ko | VP | BUY | 40 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Ku Yao-Ching | VP | BUY | 47 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| He Jun | VP | BUY | 46 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Chuang Tzu-Sou | VP | BUY | 47 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Hou Yung-Chin | SVP and Deputy Co-COO | BUY | 63 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Chuang Juiping | VP | BUY | 49 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Fang Shu-Hua | SVP and GC | BUY | 57 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Chang Tzonz-Sheng | SVP | BUY | 54 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Chen Chih-Ho | Controller | BUY | 33 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Chen Pei-Hung | VP | BUY | 46 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Cao Min | VP | BUY | 55 | $73.31 | $0.00M | 2026-08-07 | ↗ |
| Chin Yung-Pei | EVP and Co-COO | BUY | 72 | $73.31 | $0.01M | 2026-08-07 | ↗ |
| Tien Bor-Zen | VP | BUY | 1K | $73.06 | $0.07M | 2026-08-03 | ↗ |
| Tien Bor-Zen | VP | BUY | 10 | $390.00 | $0.00M | 2026-07-28 | ↗ |
| Tien Bor-Zen | VP | BUY | 5 | $390.00 | $0.00M | 2026-07-28 | ↗ |
| Tien Bor-Zen | VP | BUY | 1K | $67.97 | $0.07M | 2026-07-28 | ↗ |
| Tien Bor-Zen | VP | BUY | 1K | $74.44 | $0.07M | 2026-07-21 | ↗ |
| Tien Bor-Zen | VP | BUY | 1K | $74.13 | $0.07M | 2026-07-21 | ↗ |
| Tien Bor-Zen | VP | BUY | 1K | $73.98 | $0.07M | 2026-07-21 | ↗ |
| Tien Bor-Zen | VP | BUY | 1K | $74.75 | $0.07M | 2026-07-21 | ↗ |
| Lin Shyue-Shyh | VP | BUY | 1K | $74.13 | $0.07M | 2026-07-21 | ↗ |
| Lin Shyue-Shyh | VP | BUY | 1K | $72.65 | $0.07M | 2026-07-20 | ↗ |
| Tien Bor-Zen | VP | BUY | 10 | $405.00 | $0.00M | 2026-07-20 | ↗ |
| Lin Shyue-Shyh | VP | BUY | 1K | $72.10 | $0.07M | 2026-07-19 | ↗ |
| Lin Shyue-Shyh | VP | BUY | 1K | $71.32 | $0.07M | 2026-07-19 | ↗ |
| Lin Shyue-Shyh | VP | BUY | 1K | $71.94 | $0.07M | 2026-07-19 | ↗ |
| Chen Chih-Ho | Controller | SELL | 50 | $75.22 | $0.00M | 2026-07-14 | ↗ |
| Chen Chih-Ho | Controller | BUY | 50 | $74.60 | $0.00M | 2026-07-13 | ↗ |
| Wang Ying-Lang | SVP | BUY | 53 | $76.62 | $0.00M | 2026-07-07 | ↗ |
| Jang Syun-Ming | VP | BUY | 47 | $76.62 | $0.00M | 2026-07-07 | ↗ |
| Wu Shien-Yang | SVP | BUY | 54 | $76.62 | $0.00M | 2026-07-07 | ↗ |
| Ku Yao-Ching | VP | BUY | 46 | $76.62 | $0.00M | 2026-07-07 | ↗ |
| Chuang Juiping | VP | BUY | 47 | $76.62 | $0.00M | 2026-07-07 | ↗ |
| Lin Chris Horng-Dar | VP and CIO | BUY | 46 | $76.62 | $0.00M | 2026-07-07 | ↗ |
| Chang Tzonz-Sheng | SVP | BUY | 52 | $76.62 | $0.00M | 2026-07-07 | ↗ |
| Wei Che-Chia | Chairman and CEO | BUY | 146 | $76.62 | $0.01M | 2026-07-07 | ↗ |
| Lee Chun-Hsien | SVP | BUY | 50 | $76.62 | $0.00M | 2026-07-07 | ↗ |
| Chen Pei-Hung | VP | BUY | 44 | $76.62 | $0.00M | 2026-07-07 | ↗ |
| Tien Bor-Zen | VP | BUY | 40 | $76.62 | $0.00M | 2026-07-07 | ↗ |
| Tien Bor-Zen | VP | BUY | 6 | $76.62 | $0.00M | 2026-07-07 | ↗ |
| Wu Yi-Huang | VP | BUY | 39 | $76.62 | $0.00M | 2026-07-07 | ↗ |
Congressional Trading
| Member | Chamber | State | Type | Amount Range | Transaction Date | Filed | Src |
|---|---|---|---|---|---|---|---|
| Cleo Fields | house | LA06 | BUY | $1,001 - $15,000 | 2026-07-10 | 2026-07-30 | ↗ |
| Richard W. Allen | house | GA12 | BUY | $1,001 - $15,000 | 2026-05-08 | 2026-06-16 | ↗ |
Periodic Transaction Reports filed under the STOCK Act. Amounts are disclosed as ranges, not exact dollar figures.