Second-quarter 13F filings show a sharp rotation by prominent hedge funds from Broadcom into Taiwan Semiconductor Manufacturing, the foundry leader at the center of the AI chip boom. Dan Loeb's Third Point sold its entire 50,000-share Broadcom stake and added 185,000 TSMC shares, lifting its holding to 460,000 shares worth about $220 million, while Stanley Druckenmiller's Duquesne Family Office exited 195,955 Broadcom shares and opened a 94,400-share TSMC position. David Tepper's Appaloosa added 322,500 TSMC shares, taking its stake to 1.65 million shares worth roughly $788 million, and also initiated a new 150,000-share Broadcom position valued at about $56.66 million. The repositioning comes as TSMC has climbed about 41% this year and 78.82% over the past year, while Broadcom has recently weakened after a SemiAnalysis report suggested Alphabet may diversify custom TPU chip suppliers toward AMD and MediaTek. Both companies still posted strong AI-driven growth, with Broadcom reporting fiscal second-quarter revenue of $22.2 billion and TSMC posting $40.2 billion while raising its full-year dollar revenue growth outlook to "slightly above 40%." Because the filings reflect holdings only as of June 30, they point to a recalibration of AI semiconductor exposure rather than a real-time verdict on current positioning.