Platinum Asset Management, an investment management company, released its Q4 2025 investor letter for “Platinum International Technology Fund”. A copy of the letter can be downloaded here. The fund was up 3% in the fourth quarter and 13.1% for calendar 2025, surpassing the benchmark return of 2.5% and 12.4%, respectively. U.S. Dollar depreciation negatively impacted Fund and Benchmark returns in Australian dollar terms in 2025. The market was ‘risk-on’, with defensive sectors like Real Estate and Consumer Staples underperforming, while discretionary consumer businesses showed mixed results. For 2026, the firm anticipates a similar investment environment as in 2025 and 2024, hoping to avoid extreme events like a Liberation Day. The firm expects ongoing macroeconomic trends and a focus on AI, while being cautious about potential adverse outcomes from unexpected areas. In addition, you can check the Portfolio’s top 5 holdings to find out its best picks for 2025.

In its fourth-quarter 2025 investor letter, Platinum International Technology Fund highlighted Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) as a notable contributor. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the world’s leading manufacturer of integrated circuits and other semiconductor devices. On March 30, 2026, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) closed at $316.50 per share. One-month return of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) was -10.37%, and its shares gained 87.68% over the past 52 weeks. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has a market capitalization of $1.64 trillion.

Platinum International Technology Fund stated the following regarding Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in its fourth quarter 2025 investor letter:

"Taiwan’s Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the leading manufacturer of semiconductor chips used in AI, mobile phone and other applications. It benefits from extremely strong demand and has industry leading manufacturing capabilities. It is expanding in Taiwan and making large manufacturing investments in the U.S. and other international markets. Financial performance continues to exceed our expectations and we believe the business has a long runway for future growth."Is TSM a good stock to buy?

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) ranks 6th on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 224 hedge fund portfolios held Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) at the end of the fourth quarter, up from 194 in the previous quarter. While we acknowledge the potential of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

Story Continues

In another article, we covered Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) and shared Janus Henderson Investors Global Sustainable Equity Fund's views on the company. In addition, please check out our hedge fund investor letters Q4 2025 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.

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