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August 14 Form 13F filings put Taiwan Semiconductor Manufacturing (NYSE: TSM) in focus: eight billionaires trimmed or exited Micron Technology (NASDAQ: MU) in the second quarter while five added TSM exposure, with Wall Street consensus projecting TSMC to more than double earnings per share between 2025 and 2027.
The disclosures arrive after Micron shares effectively quadrupled between March 30 and June 25, lifting the stock to a trillion-dollar market cap and a 228% year-to-date gain through Aug.
The Micron exits The sellers include Ken Griffin's Citadel Advisors, David Siegel and John Overdeck's Two Sigma Investments, Israel Englander's Millennium Management, David Tepper's Appaloosa, Stanley Druckenmiller's Duquesne Family Office, Steven Cohen's Point72 Asset Management, and Cliff Asness's AQR Capital Management.
Some of these funds hedge common stock positions with options. Profit-taking was likely the primary driver; the run from March 30 to June 25 gave those managers ample room to lock in gains.
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