- Speaker Nancy Pelosi recently met withTaiwan Semiconductor(TSM) Chairman Mark Liu.
- In Taiwan, the two discussed the Chips and Science Act.
- Shares of TSM stock are down over 30% year-to-date.
Taiwan Semiconductor(NYSE:TSM) stock is in full focus following Speaker Nancy Pelosi’svisitwith Chairman Mark Liu. In Taiwan, the two discussed the $280 billionChips and Science Act, which includes $52 billion in funding for the semiconductor industry. The act encourages chipmakers, like TSM, to build foundries in the U.S. It will also provide a four-year 25% tax credit as an incentive, as well as the authorization of grants and loans. TSM is currently in the process of building a plant in Arizona that is expected to go online in 2024.
So, does Pelosi have a stake in TSM stock? Let’s get into the details.
Is Nancy Pelosi Betting on TSM Stock?
According toQuiver Quant, Pelosidoes not own sharesof TSM stock. However, she does own a significant stake inAllianceBernstein(NYSE:AB). As an asset management firm, AllianceBernstein owns shares of stock in several thousand companies. One of these companies is Taiwan Semiconductor.
As of the first quarter, the firm owned1.46 million sharesof TSM and added 225,968 shares during the quarter. In total, AB owns 3,260 positions, with TSM as its 298th largest position. Pelosi’s AB stake shouldn’t be regarded as overly controversial due to AllianceBernstein’s holdings in thousands of companies. Furthermore, outperformance by TSM would barely move the needle on AB since it accounts for 0.06% of AB’s overall portfolio.
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