Billionaire Cliff Asness’ Top 5 Technology Stock Picks

4. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

AQR Capital Management’s Stake Value as of 9/30: $492,567,000

Percentage of AQR Capital Management’s 13F Portfolio as of 9/30: 1.2%

AQR Capital Management raised its position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by 6% in the third quarter to end September with a stake worth over $492 million. As a result, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) accounts for 1.2% of the fund’s overall 13F portfolio. Although it faces geopolitical risk if tensions between China and the United States rise, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the leader in making cutting edge semiconductors.

Baron Funds commented on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in a Q2 2022 investor letter,

“Semiconductor giant Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) detracted in the second quarter due to macroeconomic uncertainties and softening demand for consumer electronics. We retain conviction that Taiwan Semi’s technological leadership, pricing power, and exposure to secular growth markets, including high-performance computing, automotive, and IoT, will allow the company to deliver strong revenue growth over the next several years.”