Wedgewood Partners, an investment management firm, published
its second quarter 2021 investor letter – a copy of which can be downloaded
here. A quarterly portfolio return of 11.8% was recorded by the fund for the
first half of 2021, outperforming the S&P 500 that delivered an 8.6% return
for the same period, but slightly below the 11.9% gain of Russell 1000 Growth
Index. You can view the fund’s top 5 holdings to have an idea about their top
bets for 2021.
In the Q2 2021 investor letter of Wedgewood Partners, the
fund mentioned Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM),
and discussed its stance on the firm. Taiwan Semiconductor Manufacturing
Company Limited is a Hsinchu, Taiwan-based semiconductor manufacturing company,
that currently has a $600.2 billion market capitalization. TSM delivered a
6.14% return since the beginning of the year, extending its 12-month revenues
to 74.31%. The stock closed at $115.74 per share on July 16, 2021.
Here is what Wedgewood Partners has to say about Taiwan
Semiconductor Manufacturing Company Limited in its Q2 2021 investor letter:
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