We just published a deep dive on a market share winner in the semi supply chain.

Readers will know that we invest in companies that dominate their respective areas in the semiconductor supply chain. Examples are TSMC, the practical monopolist foundry at the leading edge; Cadence and Synopsys, the duopolist semiconductor design software providers; dominant advanced semi design houses with a competitive advantage such as Nvidia and Broadcom; wafer fabrication equipment providers that have a stronghold over their niches such as ASML, Lam Research and BESI; or the most advanced analog companies such as Texas Instruments and Analog Devices.

The company we’re about to dive into is no different. We see an IRR of above 20%. A name for both long-term buy-and-hold-style investors as well as to make a tactical investment until the semi cycle starts to look stretched again.