Eminence Capital's Q1 2026 Investment Moves
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 15 2026
0mins
Source: seekingalpha
- New Positions: Eminence Capital established a new position in Taiwan Semiconductor (TSM) with 421.6K shares valued at $142.5M in Q1 2026, indicating strong confidence in the semiconductor sector and potential portfolio growth.
- Increased Holdings: The fund increased its stake in SomniGroup (SOMN) from 314K shares to 1.51M shares valued at $111.8M, reflecting optimism about the company's future prospects and potential market share expansion.
- Reduction Strategy: Eminence Capital offloaded 8.4M shares of DraftKings (DKNG), indicating a cautious outlook on the company's future performance, which may impact its competitiveness in the online gambling market.
- Portfolio Adjustments: The fund trimmed its holdings in Workiva (WK) to 2.52M shares valued at $150.3M, reflecting a reassessment of the company's growth potential, which could affect its future financial performance.
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Analyst Views on TSM
Wall Street analysts forecast TSM stock price to fall
8 Analyst Rating
7 Buy
1 Hold
0 Sell
Strong Buy
Current: 407.150
Low
63.24
Averages
313.46
High
390.00
Current: 407.150
Low
63.24
Averages
313.46
High
390.00
About TSM
Taiwan Semiconductor Manufacturing Co Ltd is a Taiwan-based integrated circuit foundry service provider. The Company is primarily engaged in integrated circuit manufacturing services. It offers advanced process technologies, specialised process solutions, advanced photomask and silicon stacking, and packaging-related technologies, while supporting a comprehensive design ecosystem. The Company's products serve diverse electronic sectors including artificial intelligence, high-performance computing, wired and wireless communications, automotive and industrial equipment, personal computing, information applications, consumer electronics, smart internet of things, and wearable devices.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
VanEck Semiconductor ETF Achieves 384% Return Over Five Years
- Outstanding Market Performance: The VanEck Semiconductor ETF has achieved a total return of 384% over the past five years, with nearly all gains stemming from share price appreciation, showcasing the fund's strong performance and investment appeal in the semiconductor sector.
- Significant Investment Returns: An investment of $1,000 in this ETF five years ago would now be worth approximately $4,840, translating to an annualized return exceeding 37%, reflecting the robust growth potential of the semiconductor industry.
- Industry Driving Factors: The ETF's success is attributed to its market-cap-weighting methodology, which focuses on investing in industry giants like Nvidia, Taiwan Semiconductor, Intel, and Broadcom, thereby capturing the largest market gains.
- Optimistic Future Outlook: Despite high valuations, AI-related spending remains strong, and earnings growth is expected to be robust for the next few years; if semiconductor companies can continue to meet demand, investor returns are likely to keep rising.
See More
VanEck Semiconductor ETF Achieves 384% Return Over Five Years
- Outstanding Market Performance: The VanEck Semiconductor ETF has achieved a total return of 384% over the past five years, with nearly all gains stemming from share price appreciation, highlighting the fund's strong performance and investment appeal in the semiconductor sector.
- Significant Investment Returns: An investment of $1,000 five years ago would now yield approximately $4,840, translating to an annualized return exceeding 37%, which underscores the ETF's exceptional capital appreciation capabilities.
- Industry Driving Factors: The robust growth of the semiconductor sector is primarily fueled by massive demand for artificial intelligence infrastructure, cloud computing, and high-performance chips, which has propelled the ETF's market performance.
- Optimistic Future Outlook: Despite high valuations, strong AI-related spending is expected to sustain earnings growth over the next few years, and if semiconductor companies can continue to meet demand, investor returns are likely to keep rising.
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Tiger Global Management's Heavy Concentration in AI Stocks
- Portfolio Overview: At the end of Q1, Tiger Global Management held 54 stocks, with seven stocks comprising about 56% of total assets, indicating a strong confidence in the AI sector and reflecting the fund's long-term investment strategy in the market.
- Significant Additions: Coleman notably increased his stakes in Taiwan Semiconductor and Broadcom by 49% and 25% respectively during Q1, suggesting a bullish outlook on AI demand and rising interest in custom AI chips.
- Selling Dynamics: While Tiger Global slightly reduced its Amazon holdings by 0.1% in Q1, it drastically cut its Microsoft position by 54%, a significant move that warrants investor attention, especially as other billionaires also sold Microsoft shares during the quarter.
- Industry Insights: Coleman's investment strategy emphasizes concentrated investments in AI stocks, indicating his belief that this sector will be key for future growth, and investors can look to Tiger Global's portfolio for potential high-quality stock opportunities.
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- Portfolio Overview: Chase Coleman's Tiger Global Management held 54 stocks at the end of Q1, with seven stocks comprising over 56% of the portfolio, indicating a strong confidence in the artificial intelligence sector.
- Major Holding Dynamics: Coleman increased his stakes in Nvidia and Meta Platforms by 9% and 12% respectively during Q1, while also boosting his positions in Broadcom and Taiwan Semiconductor by 25% and 49%, reflecting an optimistic outlook on AI demand.
- Reduction Strategy: Although Coleman slightly reduced his Amazon holdings by 0.1%, he significantly cut his Microsoft stake by 54%, a major adjustment that may indicate concerns about the company's future performance.
- Long-term Investment Strategy: Tiger Global Management's investment approach emphasizes long-term holding, with Coleman's portfolio not only mirroring individual investors' choices but also showcasing a forward-looking strategy in the rapidly growing AI market.
See More
Huawei's High-End Chips to Reach 1.4nm by 2031
- Chip Technology Breakthrough: Huawei announced that its high-end chips are expected to achieve a transistor density of 1.4nm by 2031, marking a significant effort by China to overcome U.S. sanctions, which could enhance its competitiveness in the global semiconductor market.
- New Guiding Principle: At the 2026 IEEE International Symposium on Circuits and Systems, Huawei introduced the τ Scaling Law, aimed at replacing traditional geometric scaling to drive the ongoing evolution of semiconductors and electronic systems, showcasing Huawei's forward-thinking in technological innovation.
- Logic Folding Architecture: The Kirin chips set to launch this year will be the first to adopt the Logic Folding architecture, which is expected to significantly enhance chip performance, further solidifying Huawei's position in the AI chip market, especially against the backdrop of strong demand for local alternatives in China.
- Surging Market Demand: Huawei anticipates a revenue surge of at least 60% from its AI chips this year, driven by strong demand for the Ascend 950PR processor from Chinese companies, reflecting Huawei's rapid rise in the global AI semiconductor market.
See More
Laffont Cuts Cloud Stakes, Increases Semiconductor Holdings
- Portfolio Adjustment: Billionaire investor Philippe Laffont of Coatue Management significantly reduced his stakes in major cloud providers like Amazon, Alphabet, and Microsoft in Q1, while completely exiting Oracle, indicating a reassessment of the cloud computing sector.
- Increased Semiconductor Investment: Laffont boosted his stake in Taiwan Semiconductor Manufacturing Co. (TSMC), making it his top holding, and initiated a new position in ASML Holding, reflecting his optimism towards semiconductor infrastructure, particularly amid the rapid growth of AI infrastructure.
- Market Position of TSMC: As the world's largest foundry, TSMC holds a near-monopoly in manufacturing logic chips due to its high yields and advanced packaging technology, and it is expected to enhance its strong pricing power and margins through planned multiyear price hikes.
- Technological Edge of ASML: ASML monopolizes extreme ultraviolet (EUV) lithography, and as demand for advanced logic chips rises, TSMC and other foundries will increasingly require ASML's machines, thereby solidifying ASML's foundation for future growth.
See More
VanEck Semiconductor ETF Achieves 384% Return Over Five Years
- Outstanding Market Performance: The VanEck Semiconductor ETF has achieved a total return of 384% over the past five years, with nearly all gains stemming from share price appreciation, showcasing the fund's strong performance and investment appeal in the semiconductor sector.
- Significant Investment Returns: An investment of $1,000 in this ETF five years ago would now be worth approximately $4,840, translating to an annualized return exceeding 37%, reflecting the robust growth potential of the semiconductor industry.
- Industry Driving Factors: The ETF's success is attributed to its market-cap-weighting methodology, which focuses on investing in industry giants like Nvidia, Taiwan Semiconductor, Intel, and Broadcom, thereby capturing the largest market gains.
- Optimistic Future Outlook: Despite high valuations, AI-related spending remains strong, and earnings growth is expected to be robust for the next few years; if semiconductor companies can continue to meet demand, investor returns are likely to keep rising.
See More
VanEck Semiconductor ETF Achieves 384% Return Over Five Years
- Outstanding Market Performance: The VanEck Semiconductor ETF has achieved a total return of 384% over the past five years, with nearly all gains stemming from share price appreciation, highlighting the fund's strong performance and investment appeal in the semiconductor sector.
- Significant Investment Returns: An investment of $1,000 five years ago would now yield approximately $4,840, translating to an annualized return exceeding 37%, which underscores the ETF's exceptional capital appreciation capabilities.
- Industry Driving Factors: The robust growth of the semiconductor sector is primarily fueled by massive demand for artificial intelligence infrastructure, cloud computing, and high-performance chips, which has propelled the ETF's market performance.
- Optimistic Future Outlook: Despite high valuations, strong AI-related spending is expected to sustain earnings growth over the next few years, and if semiconductor companies can continue to meet demand, investor returns are likely to keep rising.
See More
Tiger Global Management's Heavy Concentration in AI Stocks
- Portfolio Overview: At the end of Q1, Tiger Global Management held 54 stocks, with seven stocks comprising about 56% of total assets, indicating a strong confidence in the AI sector and reflecting the fund's long-term investment strategy in the market.
- Significant Additions: Coleman notably increased his stakes in Taiwan Semiconductor and Broadcom by 49% and 25% respectively during Q1, suggesting a bullish outlook on AI demand and rising interest in custom AI chips.
- Selling Dynamics: While Tiger Global slightly reduced its Amazon holdings by 0.1% in Q1, it drastically cut its Microsoft position by 54%, a significant move that warrants investor attention, especially as other billionaires also sold Microsoft shares during the quarter.
- Industry Insights: Coleman's investment strategy emphasizes concentrated investments in AI stocks, indicating his belief that this sector will be key for future growth, and investors can look to Tiger Global's portfolio for potential high-quality stock opportunities.
See More
Analysis of Billionaire Investors' Holdings
- Portfolio Overview: Chase Coleman's Tiger Global Management held 54 stocks at the end of Q1, with seven stocks comprising over 56% of the portfolio, indicating a strong confidence in the artificial intelligence sector.
- Major Holding Dynamics: Coleman increased his stakes in Nvidia and Meta Platforms by 9% and 12% respectively during Q1, while also boosting his positions in Broadcom and Taiwan Semiconductor by 25% and 49%, reflecting an optimistic outlook on AI demand.
- Reduction Strategy: Although Coleman slightly reduced his Amazon holdings by 0.1%, he significantly cut his Microsoft stake by 54%, a major adjustment that may indicate concerns about the company's future performance.
- Long-term Investment Strategy: Tiger Global Management's investment approach emphasizes long-term holding, with Coleman's portfolio not only mirroring individual investors' choices but also showcasing a forward-looking strategy in the rapidly growing AI market.
See More
Huawei's High-End Chips to Reach 1.4nm by 2031
- Chip Technology Breakthrough: Huawei announced that its high-end chips are expected to achieve a transistor density of 1.4nm by 2031, marking a significant effort by China to overcome U.S. sanctions, which could enhance its competitiveness in the global semiconductor market.
- New Guiding Principle: At the 2026 IEEE International Symposium on Circuits and Systems, Huawei introduced the τ Scaling Law, aimed at replacing traditional geometric scaling to drive the ongoing evolution of semiconductors and electronic systems, showcasing Huawei's forward-thinking in technological innovation.
- Logic Folding Architecture: The Kirin chips set to launch this year will be the first to adopt the Logic Folding architecture, which is expected to significantly enhance chip performance, further solidifying Huawei's position in the AI chip market, especially against the backdrop of strong demand for local alternatives in China.
- Surging Market Demand: Huawei anticipates a revenue surge of at least 60% from its AI chips this year, driven by strong demand for the Ascend 950PR processor from Chinese companies, reflecting Huawei's rapid rise in the global AI semiconductor market.
See More
Laffont Cuts Cloud Stakes, Increases Semiconductor Holdings
- Portfolio Adjustment: Billionaire investor Philippe Laffont of Coatue Management significantly reduced his stakes in major cloud providers like Amazon, Alphabet, and Microsoft in Q1, while completely exiting Oracle, indicating a reassessment of the cloud computing sector.
- Increased Semiconductor Investment: Laffont boosted his stake in Taiwan Semiconductor Manufacturing Co. (TSMC), making it his top holding, and initiated a new position in ASML Holding, reflecting his optimism towards semiconductor infrastructure, particularly amid the rapid growth of AI infrastructure.
- Market Position of TSMC: As the world's largest foundry, TSMC holds a near-monopoly in manufacturing logic chips due to its high yields and advanced packaging technology, and it is expected to enhance its strong pricing power and margins through planned multiyear price hikes.
- Technological Edge of ASML: ASML monopolizes extreme ultraviolet (EUV) lithography, and as demand for advanced logic chips rises, TSMC and other foundries will increasingly require ASML's machines, thereby solidifying ASML's foundation for future growth.
See More
