TSMC Sold NT$2.7 Billion! Active ETFs Focus on Stock Swap List Revealed
Published 2026.06.21 10:58
Meanwhile, as the "Guardian Mountain" TSMC held its shareholders' meeting today (4th), the Taiwan stock market fell 700 points, losing the 46,000 mark. One of the key concerns for TSMC shareholders is whether the massive capital expenditures driven by AI will continue and when they will plateau. Chairman Wei Zhejia responded that the company plans investments based on customer demand forecasts and remains confident in growth over the next few years. This year's capital expenditure will be maintained between USD 52 billion and USD 56 billion, leaning toward the higher end. Photo: TSMC/Provided
The Taiwan Stock Exchange Weighted Index closed at 46,465 points on the 18th, up 587 points or 1.28%. The opening was nearly the low of the day, with high-level volatility during the session, and the close was near the high, indicating a very strong market. What are active ETF managers buying?
Below is the analysis from the Facebook fan page "波波流 投機指揮所" on Thursday:
"The most important thing on the 18th is not the market surge, but: TSMC was reduced. Looking at the adjustment direction of active ETFs, the most noteworthy is not across-the-board chasing, but managers taking advantage of the market's strength to adjust TSMC positions.
From the disclosed data, TSMC 2330 became the largest consensus sell among active ETFs today, with a total reduction of approximately NT$2.77 billion, mainly from 00403A and 00991A, while 00992A also reduced TSMC positions. This indicates that the market is not bearish on electronics, but funds are shifting from large-cap weighted stocks to more flexible sub-industries and mid-cap stocks.
Where are the funds moving? The active ETFs clearly concentrated on:
- Walsin Technology 2492: NT$1.23 billion
- KYEC 2449: NT$880 million
- Yageo 2327: NT$650 million
- Sigurd Microelectronics 3264: NT$350 million
- Kaori 8996: NT$250 million
- Taiwan Union Technology 6274: NT$240 million
That is, funds are gradually shifting from weighted stocks to passive components, PCB, high-speed materials, packaging and testing, and AI cooling!
Key points for each ETF:
- 00981A was most active on the 18th, buying 5 stocks and selling 0, focusing on Yageo, Taiwan Union Technology, KYEC, Tong Hsing Electronic, and Sigurd Microelectronics. This fund is clearly bullish, mainly targeting passive components, PCB, and packaging/testing.
- 00403A clearly rotated, reducing TSMC and Chenbro, and adding Kaori, indicating a shift from weighted stocks and chassis stocks to AI cooling and thermal management themes.
- 00991A's other key move on the 18th: building a position in Walsin Technology, while reducing TSMC and Delta Electronics, and also clearing Taiwan Mobile. This represents a simultaneous reduction in large-cap weighted stocks and a shift of funds to passive components and server components.
- 00982A made small moves on the 18th, only slightly adding Taiwan Union Technology without selling, indicating a conservative trial, continuing to focus on the PCB group.
- 00992A reduced TSMC and turned to buy Largan Precision. This adjustment direction is clear: not chasing weighted stocks, but turning to high-priced electronics and optical stocks.
In summary: Although the Taiwan stock market surged, the real signal from active ETFs is: not continuing to chase TSMC, but adjusting during the strength of weighted stocks, shifting funds to passive components, PCB, packaging/testing, cooling, and some high-priced electronics stocks.
So, the key takeaway from the 18th is not just who was added, but that TSMC was reduced, indicating the market is beginning to rotate.
Three things to watch next:
- Whether TSMC enters a period of high-level adjustment.
- Whether Yageo, Walsin Technology, and Taiwan Union Technology can take over as the new main theme.
- Whether the mid-cap thematic stock operation of 00981A will become the main trend for the next wave of active ETFs."
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