Investment management company Ave Maria recently released its “Ave Maria World Equity Fund” second quarter 2024 investor letter. A copy of the letter can be downloaded here. In the second quarter, the fund returned -4.24% compared to the MSCI All Country World Index’s 2.87% return. Since its inception on April 30, 2010, the fund’s annualized return was 7.13% compared to the 9.11% annualized return for the benchmark. You can check the fund’s top 5 holdings for its best picks for 2024.
Ave Maria World Equity Fund highlighted stocks like Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), in the second quarter 2024 investor letter. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) manufactures, packages, tests, and sells integrated circuits and other semiconductor devices. The one-month return of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) was -4.44%, and its shares gained 78.06% of their value over the last 52 weeks. On September 10, 2024, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) stock closed at $162.43 per share with a market capitalization of $842.375 billion.
Ave Maria World Equity Fund stated the following regarding Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in its Q2 2024 investor letter:
“Top contributors to performance included SharkNinja, Inc. and Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM). Taiwan Semiconductor Manufacturing Company Limited is the global leader in semiconductor foundry services, with a dominant market share position in advanced semiconductors. The company has significant pricing power and stands to benefit from secular “megatrends” (5G, high performance computing, AI, rising silicon content per device, etc.) due to its technological leadership.”
A close-up of a complex network of integrated circuits used in logic semiconductors.
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is in 11th position on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 156 hedge fund portfolios held Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) at the end of the second quarter which was 135 in the previous quarter. The second quarter revenue of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) increased 13.6% sequentially in NT or 10.3% in U.S. dollars. While we acknowledge the potential of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) and shared the list of most important AI stocks according to BlackRock. Baron Technology Fund benefitted from the performance of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in Q2 2024. In addition, please check out our hedge fund investor letters Q2 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.