PineStone Asset Management 13F: Cuts TSM Stake by $150M

PineStone Asset Management trimmed its investment in Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM), selling 328,102 shares during the period. According to a Form 13F filing with the SEC on October 16, 2026, the fund's holdings dropped by 6.6% to 4,631,892 shares. That stake was valued at roughly $2.11 billion when filed. Keep in mind that 13F filings look backward at holdings from the close of the reporting quarter and may not show where the fund stands today. ## What Changed in PineStone Asset Management's Taiwan Semiconductor Position

PineStone owned 4,959,994 shares before the reduction. Cutting the stake by 328,102 shares brought the total down to 4,631,892 shares. The resulting position carries a reported value of $2,113,571,618.

Other Institutional Activity in Taiwan Semiconductor

Other large funds made adjustments to their Taiwan Semiconductor positions around the same time. FMR, LLC reduced its holdings by 1,455,472 shares, ending with 58,937,551 shares valued at about $24.32 billion. Capital World Investors grew its stake by 1,486,440 shares to hold 34,372,74 MARKDOWN shares worth roughly $14.18 billion. Sanders Capital, LLC cut its position by 1,910,882 shares, leaving it with 26,149,064 shares valued at about $10.79 billion. JPMORGAN CHASE & CO trimmed 155,904 shares to finish with 23,829,286 shares worth roughly $9.83 billion. Blackrock Inc. added 1,888,086 shares to its portfolio, bringing its total to 20,112,852 shares valued at about $8.30 billion.

Taiwan Semiconductor Manufacturing Company Limited Stock Down 4.1%

Shares of Taiwan Semiconductor recently traded around $413.54 as of October 16, 2026. The stock sits below its 50-day moving average and 15.2% below its 52-week high of $487.47, while staying above its 52-week low of $266.82.

Recent Earnings

Taiwan Semiconductor posted trailing-twelve-month revenue of $4,440,492,432,960 and earnings of $15.43 per share. The company reported a net profit margin of 49.9% and a return on equity of 40.0%, alongside a year-over-year revenue growth rate of 36.0%.

Dividend

Taiwan Semiconductor offers a dividend yield of 0.85% with a payout ratio of 25.4%.

Insider Buying and Selling at Taiwan Semiconductor Manufacturing Company Limited

Company insiders made several smaller transactions over the past few months. Officer Bor-Zen Tien bought 20 shares on April 28, 2026, for $7,760, followed by a purchase of 17 shares on May 20, 2026, valued at $6,718. Tien later picked up 10 shares on July 20, 2026, at $405 per share for a total of $4,050, and bought 15 shares on July 28, 2026, at $390 per share worth $5,850.

Analysts Set New Price Targets

Wall Street firms continue to update their views on the stock. On September 2, 2026, Stifel initiated coverage with a buy rating and a $515.00 price target. Barclays maintained an overweight rating on October 6, 2026, lifting its target to $665.00. Needham kept a buy rating on October 15, 2026, raising its target to $560.00. On October 16, 2026, Barclays maintained an overweight rating with a target of $670.00, while DA Davidson maintained a buy rating with a $500.00 target. Overall, the stock carries a consensus strong buy rating with a mean price target of $584.39 across 20 analyst opinions.

About Taiwan Semiconductor

Taiwan Semiconductor Manufacturing Company Limited operates as a contract manufacturer for integrated circuits and other advanced semiconductor devices. It builds custom chips for major technology giants, supplying critical hardware for smartphones, high-performance computing, and automotive systems worldwide. Its massive foundry network gives investors a clear window into overall demand across the global technology sector.

Bottom Line

PineStone's decision to trim its position sits alongside active institutional rebalancing in Taiwan Semiconductor. Investors will watch upcoming earnings reports and future 13F filings to see how major funds adjust their exposure to the chipmaker. 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.