Taiwan Semiconductor leads Harvard University’s Q1 2026 portfolio with a $232 million position amid surging AI demand.
Harvard Management’s largest holding is Taiwan Semiconductor (TSM), valued at $232,102,708 as of Q1 2026. The chipmaker dominates advanced semiconductor production, supplying AI and high-performance processors globally.
TSMC’s revenue surged 40.6% year-over-year in Q1, with gross margins expanding 7.4 percentage points. The company expects over 30% annual growth, driven by AI demand. Advanced nodes (7nm and below) account for 74% of wafer revenue, reinforcing its market leadership.
Despite strong fundamentals, TSM trades at a forward P/E of 26, below late-2025 levels. Operating margins reached 58.1% in the latest quarter, reflecting pricing power and cost efficiency.