In a notable move, Stephen Mandel's Lone Pine Capital significantly reduced its position in Taiwan Semiconductor Manufacturing (TSM), selling over 92% of its holdings. According to quarterly securities filings, which reflect trades made in the prior quarter ending June 30, 2026, the firm's stake dropped from 1.39 million shares to just over 101,000. The reported value of Lone Pine's TSM investment decreased from approximately $469.6 million to $48.35 million.
This trade marks a significant reversal, as TSM had previously been a top holding for the fund. While other major hedge funds showed mixed activity on TSM during the same period, with some increasing and others decreasing their positions, Lone Pine's reduction was among the most substantial. No specific reason for the sale has been publicly disclosed by Mandel or the firm.