Hedge Funds Piled Into TSMC Shares Last Quarter as Buffett Sold

Hedge funds bought a net 5.99 million Taiwan Semiconductor Manufacturing Co. shares last quarter just as Warren Buffett reversed course and sold 86% of his short-term stake.

(Bloomberg) — Hedge funds bought a net 5.99 million Taiwan Semiconductor Manufacturing Co. shares last quarter just as Warren Buffett reversed course and sold 86% of his short-term stake.

Some 68 hedge funds increased their stake in the Taiwan chipmaker, while 58 cut or exited positions, according to Bloomberg’s analysis of more than 1,000 13F filings. Hedge funds now own 90.99 million TSMC American depositary receipts, the analysis shows.

Buffett’s Berkshire Hathaway Inc. cut its holding of TSMC’s ADRs just months after disclosing a $5 billion stake. The ADRs were trading almost 5% lower in pre-market trading at $93.17.

Renaissance Technologies LLC bought 7.55 million TSMC shares, among the most by a hedge fund in the quarter; Citadel Advisors LLC bought 2.46 million shares
FIFTHDELTA Ltd. and Holocene Advisors LP were among funds that initiated positions
Egerton Capital UK LLP was among the biggest bears on the stock, selling 3.46 million shares; Hudson Bay Capital Management LP sold its stake of 2 million shares

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