Trinity Street Asset Management 13F: Cuts TSM Stake by $34M

Trinity Street Asset Management trimmed its stake in Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM) in a filing on October 16, 2026. The fund reduced its holdings by 75,280 shares, bringing its total down to 855,571 shares. This stake is now valued at about $390.3 million.

What Changed in Trinity Street Asset Management's TSM Position

Trinity Street Asset Management's reduction represents an 8.1% decrease in its position. The fund previously held 930,851 shares before this cut.

Other Institutional Activity in TSM

FMR, LLC reported a decrease of 1,455,472 shares, ending with 58,937,551 shares worth about $24.3 billion. Sanders Capital, LLC trimmed its position by 1,910,882 shares to hold 26,149,064 shares valued at approximately $10.8 billion. JPMorgan Chase & Co reduced its holdings slightly with a cut of 155,904 shares, totaling 23,829,286 shares worth around $9.8 billion. Meanwhile, Capital World Investors grew its stake by 1,486,440 shares, bringing its total to 34,372,274 shares valued at about $14.2 billion. BlackRock Inc. added 1,888,086 shares to reach 20,112,852 shares worth approximately $8.3 billion.

Taiwan Semiconductor Manufacturing Company Limited Stock Down 3.8%

As of October 16, 2026, TSM traded around $413.54, which is below its 50-day moving average of $434.48 and 15.2% lower than its 52-week high of $487.47. This position may indicate a reaction to recent market movements.

Recent Earnings

Taiwan Semiconductor reported trailing twelve-month revenue of approximately $4.44 trillion and an earnings per share (EPS) of $15.43. The company has shown a strong revenue growth of 36% year-over-year.

Insider Buying and Selling at Taiwan Semiconductor Manufacturing Company Limited

Insider trades show that on June 22, 2026, VP Lipen Yuan bought 1,000 shares at an average price of $79.19, totaling about $79,190. VP Bor-Zen Tien purchased 1,000 shares on June 29 at an average price of $76.64, valued at approximately $76,640, and another 1,000 shares on June 30 at $75.70, or about $75,700.

Analysts Set New Price Targets

Analysts have been actively updating their views on TSM. On September 2, 2026, Stifel initiated coverage with a Buy rating and a price target of $515. Barclays maintained its Overweight rating on October 6 with a target of $665, which it updated to $670 on October 16. Needham also maintained a Buy rating with a target increase to $560 on October 15.

About Taiwan Semiconductor Manufacturing Company

Taiwan Semiconductor Manufacturing Company Limited, headquartered in Hsinchu City, Taiwan, is the world's largest dedicated independent semiconductor foundry. It manufactures and sells integrated circuits and other semiconductor devices across various regions, including the U.S., Europe, and Asia.

Bottom Line

Trinity Street's recent filing reflects changes in its investment strategy, but it still holds a significant position in TSM. As the market evolves, watching for further analyst ratings and upcoming earnings will be crucial for understanding TSM's future performance. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.