National Development Fund Holds TSMC at Nearly Zero Cost, No Short-Term Divestment Plans
Taiwan's National Development Fund (NDF) holds TSMC shares at nearly zero cost, considering dividends and stock distributions. The NDF views TSMC as a crucial national semiconductor company and a core holding, emphasizing no short-term plans for divestment. Currently, the NDF holds about 6.5% of TSMC shares, with a market value of trillions of New Taiwan Dollars.
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- 📰 Published: April 13, 2026 at 15:53
- 🔍 Collected: April 13, 2026 at 16:01 (8 min after Published)
- 🤖 AI Analyzed: April 15, 2026 at 19:19 (51h 17m after Collected)
Taipei, April 13 (CNA) The National Development Fund (NDF) has long held shares in Taiwan Semiconductor Manufacturing Company (TSMC), with annual substantial dividends making it a "golden goose." National Development Council Deputy Minister Kao Hsien-kuei stated today during a legislative finance committee interpellation that, after accounting for stock and cash dividends, the NDF holds TSMC shares at "nearly zero cost." Considering TSMC as a crucial national semiconductor manufacturer and a core holding, there are no short-term plans for divestment.
TSMC, with its leading advanced process technology advantages and strong capital moat, firmly holds its position as the global wafer foundry leader. The NDF, as TSMC's single largest shareholder, has its holding attitude closely watched.
Kuomintang Legislator Lo Ming-tsai today questioned the NDF's cost of holding TSMC and its future plans at the legislative finance committee. Kao Hsien-kuei stated that after years of stock and cash dividends, the NDF holds TSMC at "nearly zero cost," currently holding about 6.5% of shares, with a market value of trillions of New Taiwan Dollars.
Lo Ming-tsai asked if, with TSMC's stock price reaching NT$2,000, there was any consideration of selling. Kao Hsien-kuei stated that TSMC is an important semiconductor manufacturer and plays a key role in the global supply chain, but TSMC is also a core holding of the NDF. Not only will it not be divested, but not a single share has been sold in recent years.
Kao Hsien-kuei emphasized that the NDF has relevant policies and principles for divestment. For TSMC, there are no short-term divestment plans. (Editor: Pan Yi-ching) 1150413
TSMC, with its leading advanced process technology advantages and strong capital moat, firmly holds its position as the global wafer foundry leader. The NDF, as TSMC's single largest shareholder, has its holding attitude closely watched.
Kuomintang Legislator Lo Ming-tsai today questioned the NDF's cost of holding TSMC and its future plans at the legislative finance committee. Kao Hsien-kuei stated that after years of stock and cash dividends, the NDF holds TSMC at "nearly zero cost," currently holding about 6.5% of shares, with a market value of trillions of New Taiwan Dollars.
Lo Ming-tsai asked if, with TSMC's stock price reaching NT$2,000, there was any consideration of selling. Kao Hsien-kuei stated that TSMC is an important semiconductor manufacturer and plays a key role in the global supply chain, but TSMC is also a core holding of the NDF. Not only will it not be divested, but not a single share has been sold in recent years.
Kao Hsien-kuei emphasized that the NDF has relevant policies and principles for divestment. For TSMC, there are no short-term divestment plans. (Editor: Pan Yi-ching) 1150413
FAQ
At what cost does the National Development Fund hold TSMC shares?
After accounting for stock and cash dividends, the NDF holds TSMC shares at "nearly zero cost."
Does the National Development Fund plan to sell its TSMC shares?
The NDF considers TSMC a core holding and has no short-term plans for divestment.