Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The T50 index represents the top 50 largest stocks by market capitalization on the Taiwan Stock Exchange. The T100 index represents the next 100 largest names (51-150 ranks).</li>
<li>Currently, we see four T50 changes and nine other T100 changes for the June 2026 index rebal event.</li>
<li>Among the expected T100 deletes, we see three TDIV members that could get deleted from TDIV in June 2026, with a fourth sitting close to the border.</li>
</ul>


The T50 index represents the top 50 largest stocks by market capitalization on the Taiwan Stock Exchange. The T100 index represents the next 100 largest names (51-150 ranks).
Currently, we see four T50 changes and nine other T100 changes for the June 2026 index rebal event.
Among the expected T100 deletes, we see three TDIV members that could get deleted from TDIV in June 2026, with a fourth sitting close to the border.


Quiddity Leaderboard T50/​​​100 Jun26: Three TDIV DELs And One High-Impact T50 DEL Now in the Money!

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Apr 17th. The aggregated holding was USD1,852.6bn.</li>
<li>We estimate that foreign flows to be inflows of USD4,200mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in TSMC, MediaTek, Yageo, Unimicron Technology, Chroma ATE.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Apr 17th. The aggregated holding was USD1,852.6bn.
We estimate that foreign flows to be inflows of USD4,200mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, MediaTek, Yageo, Unimicron Technology, Chroma ATE.


TWSE Foreign Holding Weekly (Apr 17th): TSMC, MediaTek, Yageo, Unimicron Technology, Chroma ATE

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Apr 17th. The aggregated short interest was USD38.3bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in MediaTek, Formosa Plastics, CTBC Financial, ASE Industrial, Cathay Financial.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Apr 17th. The aggregated short interest was USD38.3bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in MediaTek, Formosa Plastics, CTBC Financial, ASE Industrial, Cathay Financial.


TWSE Short Interest Weekly (Apr 17th): MediaTek, Formosa Plastics, CTBC Financial, ASE Industrial

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) (TSM US)

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>
<strong>Taiwan's March 2026 monthly sales, covering our universe of about 150 supply-chain names, show revenue up +46% aggegate sales growth YoY</strong>, one of the strongest months of the current cycle.</li>
<li>The strongest pockets are where AI hardware buildout flows: <strong>Memory +196%, AI Server ODMs +57%, Electronic Components +60%, TSMC +45%</strong>, successive layers of the same AI-capex wave.</li>
<li>The chain is bifurcated. Display, Analog, and PC names are flat; ASIC design-service names are down. One cannot treat the AI supply chain as one block.</li>
</ul>



Taiwan's March 2026 monthly sales, covering our universe of about 150 supply-chain names, show revenue up +46% aggegate sales growth YoY, one of the strongest months of the current cycle.
The strongest pockets are where AI hardware buildout flows: Memory +196%, AI Server ODMs +57%, Electronic Components +60%, TSMC +45%, successive layers of the same AI-capex wave.
The chain is bifurcated. Display, Analog, and PC names are flat; ASIC design-service names are down. One cannot treat the AI supply chain as one block.


Where the AI & Semi Supply Chain Is Actually Flowing: Bottom-Up Read From Taiwan's March Sales Data

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Apr 10th. The aggregated holding was USD1,771.1bn.</li>
<li>We estimate that foreign flows to be inflows of USD5,294mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in TSMC, Quanta Computer, Delta Electronics, Yageo, Wistron.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Apr 10th. The aggregated holding was USD1,771.1bn.
We estimate that foreign flows to be inflows of USD5,294mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Quanta Computer, Delta Electronics, Yageo, Wistron.


TWSE Foreign Holding Weekly (Apr 10th): TSMC, Quanta Computer, Delta Electronics, Yageo, Wistron

Taiwan

Alchip Technologies Ltd. provides silicon design and manufacturing services. The Company offers a range of system on chip (SoC) design solutions for low power, high performance, and cost considerations. Alchip produces SoC solutions for products including consumer electronics, optical networking, and medical imaging equipment. Alchip serves customers worldwide.

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Alchip Technologies (3661 TT)

Quiddity Leaderboard T50/100 Jun26: Three TDIV DELs And One High-Impact T50 DEL Now in the Money!

There are six TDIV members close to T100 deletion. Three of them are already in the money. The other three are just outside the border.

Janaghan Jeyakumar, CFA

TWSE Foreign Holding Weekly (Apr 17th): TSMC, MediaTek, Yageo, Unimicron Technology, Chroma ATE

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, MediaTek, Yageo, Unimicron Technology,...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Apr 17th): MediaTek, Formosa Plastics, CTBC Financial, ASE Industrial

We analyzed TWSE short interest report for the past week and highlighted short interest changes in MediaTek, Formosa Plastics, CTBC Financial, ASE...

Ke Yan, CFA, FRM

Where the AI & Semi Supply Chain Is Actually Flowing: Bottom-Up Read From Taiwan's March Sales Data

Taiwan's March 2026 sales show strong growth in AI hardware sectors, with Memory up 196% and TSMC up 45%. The supply chain is sharply bifurcated,...

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Apr 10th): TSMC, Quanta Computer, Delta Electronics, Yageo, Wistron

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Quanta Computer, Delta Electronics, Yageo,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Quiddity Leaderboard T50/​​​100 Jun26: Three TDIV DELs And One High-Impact T50 DEL Now in the Money!

There are six TDIV members close to T100 deletion. Three of them are already in the money. The other three are just outside the border.

Janaghan Jeyakumar, CFA

TWSE Foreign Holding Weekly (Apr 17th): TSMC, MediaTek, Yageo, Unimicron Technology, Chroma ATE

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, MediaTek, Yageo, Unimicron Technology,...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Apr 17th): MediaTek, Formosa Plastics, CTBC Financial, ASE Industrial

We analyzed TWSE short interest report for the past week and highlighted short interest changes in MediaTek, Formosa Plastics, CTBC Financial, ASE...

Ke Yan, CFA, FRM

Where the AI & Semi Supply Chain Is Actually Flowing: Bottom-Up Read From Taiwan's March Sales Data

​Taiwan's March 2026 sales show strong growth in AI hardware sectors, with Memory up 196% and TSMC up 45%. The supply chain is sharply bifurcated,...

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Apr 10th): TSMC, Quanta Computer, Delta Electronics, Yageo, Wistron

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Quanta Computer, Delta Electronics, Yageo,...

Ke Yan, CFA, FRM

Quiddity Leaderboard T50/100 Jun26: Three TDIV DELs And One High-Impact T50 DEL Now in the Money!

Taiwan's March 2026 sales show strong growth in AI hardware sectors, with Memory up 196% and TSMC up 45%. The supply chain is sharply bifurcated,...