Chautauqua Capital Management, LLC is an investment manager owned by employees. Its services targets high net worth people, profit sharing plans, endowments, corporate pension plans, foundations, among several others. According to the firm’s third quarter SEC 13F filings on October 14 for the period ended September 30, its top holdings are Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM), Lululemon Athletica inc. (NASDAQ:LULU), and ASML Holding NV (ADR) (NASDAQ:ASML).
Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) came out as the largest investment of Chautauqua Capital Management, with an investment worth $40.8 million. The company is the world’s largest independent semi-conductor foundry. The company has its headquarters in Taiwan. Several companies and funds have stakes in the company, including Vanguard Emerging Mkts Stock Idx Inv, MFS Investment Management K.K., Aberdeen Asset Management PLC, Vanguard Group, Inc., J.P. Morgan Investment Management Inc., just to mention a few. The stock posted a 35% drop in net profit this year coming down to NT$30.4 billion ($1 billion), compared to NT$46.9 billion last year.
Lululemon Athletica inc. (NASDAQ:LULU) emerged as the second largest investment of Chautauqua Capital Management in the third quarter, with a total investment worth $34.7 million. The company is a manufacturer of athletic clothing. The company has several subsidiaries in different countries operating under the same name. It designs and manufactures fitness shorts, pants, and dance attires, among many others. The company registered 13% increase in net revenue to $390.7 million for its second quarter this year. Some of the institutions that have stakes in the company are Fidelity Management and Research Company, J.P. Morgan Investment Management Inc., LIPO Investments (USA), Inc., and several others.
ASML Holding NV (ADR) (NASDAQ:ASML) was the third largest investment of Chautauqua Capital Management for the same period with an investment worth $32 million. The company is a Netherlands incorporated with subsidiaries in several other countries, including U.S.A, Canada, Korea, China, among many others. The company is currently the world’s largest supplier of photolithography systems for the semiconductor industry. ASML Holding NV (ADR) (NASDAQ:ASML) supplies its products to leading chip makers like Intel, Samsung Electronics and Taiwan Semiconductor Manufacturing. The company registered weaker sales in the third quarter, but its fourth quarter guidance shows a good kick-start for 2015.
This article has been written by Victor Ochieng.