Leopold Aschenbrenner’s fund exits Tower Semiconductor position despite $65 million Q1 net profit on $414 million revenue.
Leopold Aschenbrenner’s hedge fund liquidated its entire stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) in Q1 2026, filings show. The position, initiated in Q3 2025 with 470,000 shares, peaked at 723,000 shares in Q4 2025 before the exit.
TSEM reported $414 million revenue and $65 million net profit for Q1 2026, with net margins at 16% and gross margins at 26.8%. While improved year-over-year, margins trail those of fabless AI hardware peers due to high fixed costs and substrate expenses.
The company remains a specialty foundry play, contrasting with higher-margin AI infrastructure stocks despite its positioning in the sector.