Montrusco Bolton Investments 13F: Cuts TSM Stake by $51M

Montrusco Bolton Investments has reduced its stake in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) by about 30.8%. The fund sold 111,660 shares, bringing its total holdings to 251,239 shares valued at approximately $114.6 million. This reduction was reported in its latest Form 13F filing with the SEC for the quarter ended September 30, 2026.

What Changed in Montrusco Bolton Investments' Taiwan Semiconductor Position

Montrusco Bolton Investments cut its stake in Taiwan Semiconductor by 30.8%, reducing its holdings from 362,899 shares to 251,239 shares. The transaction decreased the fund's investment by 111,660 shares, leaving a reported value of $114.6 million in Taiwan Semiconductor.

Taiwan Semiconductor Manufacturing Company Limited Stock Down 4.1%

As of Friday, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has a market capitalization of about $2.31 trillion. The stock's P/E ratio stands at 33.1, with a forward P/E of 20.3, indicating expectations of future earnings growth. The company's beta is 1.247, suggesting it has been more volatile than the broader market. Over the past year, TSM shares have traded between $266.82 and $479. The stock's 50-day moving average is $417.59, and its 200-day moving average is $380.09.

Recent Earnings

In its most recent earnings report, Taiwan Semiconductor recorded revenue of approximately $4.44 trillion, reflecting a growth rate of 36%. The company's net margin was 49.9%, and it achieved a return on equity of 39.97%. The next earnings announcement is scheduled for October 15, 2026.

Dividend

Taiwan Semiconductor offers an annual dividend rate of $4.07, resulting in a yield of 0.91%. The dividend payout ratio is 25.74%, indicating the portion of earnings distributed to shareholders as dividends.

About Taiwan Semiconductor Manufacturing Company Limited

Taiwan Semiconductor Manufacturing Company Limited, based in Hsinchu City, Taiwan, is a leading player in the semiconductor industry. The company manufactures, packages, tests, and sells integrated circuits and semiconductor devices globally. Its products are integral to high-performance computing, smartphones, IoT, automotive, and digital consumer electronics. Led by CEO Dr. C. C. Wei, TSMC employs over 76,900 people worldwide.

Bottom Line

Montrusco Bolton Investments' decision to trim its stake in Taiwan Semiconductor highlights the fund's strategic adjustments in its investment portfolio. Investors closely watch these filings to understand fund managers' views on a company's potential. It's important to remember that 13F filings are backward-looking and may not represent the investor's current position.