Artisan Partners, an investment management company, released its second-quarter 2026 investor commentary for the "Artisan Global Opportunities Strategy". The letter can be downloaded here. Global equities rebounded sharply during the quarter, with the MSCI ACWI Index returning 15.3% as resilient economic growth, strong corporate earnings, and continued enthusiasm around artificial intelligence supported markets despite persistent inflation, higher bond yields, and geopolitical uncertainty. The portfolio reported strong absolute returns of 12.65% (net) but underperformed the benchmark, mainly because of its underweight exposure to information technology and overweight position in health care. Strong stock selection in technology and energy partially offset these headwinds. The fund continues to see attractive long-term opportunities across AI infrastructure, health care and consumer internet, while remaining disciplined on valuation as several AI-related stocks have appreciated sharply. Management remains focused on durable franchises with identifiable profit cycles and attractive long-term earnings potential. Also, check the Strategy's top five holdings to see its best picks in 2026.
In its second-quarter 2026 investor letter, Artisan Global Opportunities Fund highlighted Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) as a notable contributor to performance. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the world's leading contract chip manufacturer, producing advanced semiconductors for major global technology companies. On September 1, 2026, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) closed at $414.00 per share. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) fell 0.07% over the past month, while its shares gained 78.80% over the past 52 weeks. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has a market capitalization of $2 Trillion.
Artisan Global Opportunities Fund stated the following regarding Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in its Q2 2026 investor letter:
"Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the global leader in advanced semiconductor manufacturing, with strong pricing power supported by AI-driven demand. Recent results exceeded expectations with revenue growing 41% and gross margins expanding to 66%. Given TSMC's leading position and the continued supply constraints for the most advanced semiconductor manufacturing capacity, we expect demand and earnings momentum to remain robust. We also believe the company's bottleneck position in the AI supply chain, recent price increases and still reasonable valuation support an attractive long-term profit cycle."

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