NEW YORK : Investment firms Tiger Global Management, GQG Partners and Capital Group, BlackRock Inc, as well as JPMorgan & Chase were among the biggest sellers of Taiwanese contract chipmaker TSMC, in the fourth quarter, alongside Berkshire Hathaway, regulatory filings show.On Tuesday, Warren Buffet's Berk
NEW YORK : Investment firms Tiger Global Management, GQG Partners and Capital Group, BlackRock Inc, as well as JPMorgan & Chase were among the biggest sellers of Taiwanese contract chipmaker TSMC, in the fourth quarter, alongside Berkshire Hathaway, regulatory filings show.
The announcement drove shares in TSMC down 6 per cent on Wednesday, although they remain up 23.5 per cent this year.Equity long-short hedge fund Tiger entirely sold its 1.3 million shares in TSMC in the fourth quarter, a stake worth $119 million at current prices. Just like Berkshire, the firm had bought the shares in the third quarter.
Fund manager Capital Group also sold over 9.5 million shares in the chipmaker, regulatory filings showed. Capital Group declined to comment on its investment decisions. Berkshire's investors are still trying to figure out why Buffett decided to sell most of its stake in the company. On Tuesday, Charles Munder, a director and vice-chairman of Berkshire, said TSMC is the"strongest semiconductor company on earth," without elaborating on the reasons for the sale.
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