Top Holdings for Best International Stock Fund Managers in 2025: SAP, Taiwan Semiconductor, Sony

Three top international stocks liked by top managers in 2025 are SAP, Taiwan Semiconductor, and Sony. SAP is the world's largest provider of enterprise application software, with a wide economic moat. Taiwan Semiconductor is the world's largest chip foundry, with a top-line compound annual growth rate of 15.7% projected over the next five years. Sony has carved out a wide economic moat overall, with a focus on solid and stable growth in its consumer electronics and entertainment businesses.

Three international stocks have gained significant attention from top fund managers in 2025: SAP (SAP), Taiwan Semiconductor (TSM), and Sony (SONY). Each of these companies has unique strengths and growth potential.

SAP (SAP)

SAP, headquartered in Germany, is the world's largest provider of enterprise application software. Morningstar [1] highlights that SAP has carved out a wide economic moat due to high switching costs associated with its products. The company is expected to experience low- to midteens revenue growth in the near and midterm, fading to high-single-digit growth in the long term. AI adoption is forecasted to accelerate in 2025, driven by innovation. Morningstar estimates that SAP's ADRs are worth $311 each.

Taiwan Semiconductor (TSM)

Taiwan Semiconductor Manufacturing Company Limited (TSM) is the world's largest dedicated chip foundry. Morningstar [1] assigns the company a wide economic moat rating stemming from cost advantages and intangible assets. TSM has long benefited from semiconductor firms transitioning from integrated device manufacturers to fabless designers. The company projects a top-line compound annual growth rate of 15.7% over the next five years. Morningstar estimates that TSM's ADRs are worth $306.

Sony (SONY)

Sony has carved out a wide economic moat overall, focusing on solid and stable growth in its consumer electronics and entertainment businesses. Over the past decade, Sony has transformed its business model by reducing the volatility of its consumer electronics business and aggressively investing in content for its entertainment businesses, such as music, movies, and games. Morningstar [1] highlights that some of Sony's businesses are more moaty than others.

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References

[1] https://www.morningstar.com/stocks/3-international-stocks-top-managers-like-2025-2