In a recent 13F filing, David Rolfe's Wedgewood Partners reported a reduction in its stake in Taiwan Semiconductor Manufacturing (TSM) during the second quarter of 2026. The firm sold over 23,800 shares, decreasing its position by approximately 18.44% to 105,500 shares. This disclosure, made public in mid-August, reflects trading activity that occurred between April 1 and June 30.
Despite the share reduction, the reported market value of Wedgewood's TSM holding increased from $43.71 million to $50.38 million quarter-over-quarter. This caused the position's weight within the firm's portfolio to rise from 9.03% to 10.40%, cementing its status as a top holding. The increase in value and portfolio weight, despite the selling, indicates a significant appreciation in TSM's stock price during the reporting period. TSM was noted as a top performance contributor for the firm in the second quarter.