Cliff Asness’ Short Position on AMC and His Top 5 Picks

In this article, we discuss Cliff Asness’ top 5 stock picks. If you want to read about some more stocks in the Asness portfolio, go directly to “I Dare All Meme Stock Maniacs”: Cliff Asness’ Short Position on AMC and His Top 10 Picks.

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

Number of Hedge Fund Holders: 81  

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) makes and sells integrated circuits and semiconductors. Latest data shows that AQR Capital Management owned over 6.9 million shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) at the end of the first quarter of 2022 worth $727 million, representing 1.38% of the portfolio. The company has been in the AQR portfolio since the third quarter of 2017. 

On June 21, Loop Capital analyst Charles Park initiated coverage of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) stock with a Buy rating and a price target of NT$600, noting the firm was a global leader in the foundry business. 

At the end of the first quarter of 2022, 81 hedge funds in the database of Insider Monkey held stakes worth $10.1 billion in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), up from 72 in the preceding quarter worth $10.9 billion. 

In its Q1 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) was one of them. Here is what the fund said:

“Semiconductor giant Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) detracted in the first quarter due to rising geopolitical tensions, macroeconomic uncertainties, and concerns over 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 above its 15% to 20% revenue growth target over the next several years.”