TAIWAN FD INC TWN
COM · Closed-End Fund · CUSIP 874036106
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $96.17.
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 27 |
| Q4 2022 | 28 |
| Q1 2023 | 29 |
| Q2 2023 | 28 |
| Q3 2023 | 32 |
| Q4 2023 | 30 |
| Q1 2024 | 30 |
| Q2 2024 | 34 |
| Q3 2024 | 34 |
| Q4 2024 | 35 |
| Q1 2025 | 30 |
| Q2 2025 | 32 |
| Q3 2025 | 29 |
| Q4 2025 | 32 |
| Q1 2026 | 33 |
| Q2 2026 | 38 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 9 | 15 |
| Q4 2024 | 12 | 14 |
| Q1 2025 | 10 | 16 |
| Q2 2025 | 9 | 13 |
| Q3 2025 | 6 | 16 |
| Q4 2025 | 6 | 10 |
| Q1 2026 | 8 | 12 |
| Q2 2026 | 15 | 12 |
Biggest buyers
| WOLVERINE ASSET MANAGEMENT LLC | New | +42.7k |
| Atlas Wealth LLC | New | +34.0k |
| MORGAN STANLEY | Added | +12.3k |
| JANE STREET GROUP, LLC | New | +10.3k |
| XTX Topco Ltd | Added | +10.1k |
| Thomas J. Herzfeld Advisors, Inc. | Added | +6.0k |
| CIBC Bancorp USA Inc. | New | +2.9k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | +2.8k |
| FIRST TRUST ADVISORS LP | New | +2.8k |
| HRT FINANCIAL LP | New | +2.7k |
Biggest sellers
| CITY OF LONDON INVESTMENT MANAGEMENT CO LTD | Reduced | -113.8k |
| Karpus Management, Inc. | Sold out | -75.0k |
| Matisse Capital | Reduced | -14.6k |
| Almitas Capital LLC | Reduced | -14.4k |
| Allspring Global Investments Holdings, LLC | Reduced | -12.0k |
| CSS LLC/IL | Reduced | -6.2k |
| Quantedge Capital Pte Ltd | Reduced | -3.7k |
| 1607 Capital Partners, LLC | Reduced | -3.5k |
| Hudson Portfolio Management LLC | Reduced | -1.8k |
| PNC Financial Services Group, Inc. | Sold out | -1.7k |
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| CITY OF LONDON INVESTMENT MANAGEMENT CO LTD 13G · institution -1.4 pts · filed 2026-07-24 | 38.2% |
| LAZARD ASSET MANAGEMENT LLC 13G · institution -1.7 pts · filed 2026-05-15 | 16.3% |
| Allspring Global Investments Holdings, LLC 13G · institution -1.7 pts · filed 2026-01-08 | 8.6% |
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 1 | $3.3m | 0 | — | — |
| Q2 2026 | 0 | — | 1 | $11.9k | — |
| Q3 2026 | 0 | — | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-05-19 | Rigger Shelley E Director · Taiwan Fund, Inc. | Sold | $11.9k134 shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| CITY OF LONDON INVESTMENT MANAGEMENT CO LTD 12.31% of their portfolio | 2.1m $204.5m | Reduced -113.8k |
| LAZARD ASSET MANAGEMENT LLC 0.13% of their portfolio | 924.8k $88.9m | Added +946 |
| Allspring Global Investments Holdings, LLC 0.07% of their portfolio | 481.8k $46.3m | Reduced -12.0k |
| Saba Capital Management, L.P. 0.67% of their portfolio | 226.7k $21.8m | Unchanged |
| 1607 Capital Partners, LLC 0.93% of their portfolio | 111.0k $10.7m | Reduced -3.5k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.03% of their portfolio | 108.0k $10.4m | Unchanged |
| STRS OHIO 0.03% of their portfolio | 70.0k $6.7m | Unchanged |
| Matisse Capital 2.67% of their portfolio | 69.4k $6.7m | Reduced -14.6k |
| Rock Creek Group LLC 0.64% of their portfolio | 66.2k $6.4m | Unchanged |
| Thomas J. Herzfeld Advisors, Inc. 1.40% of their portfolio | 47.5k $4.6m | Added +6.0k |
| Shaker Financial Services, LLC 1.34% of their portfolio | 44.6k $4.3m | Reduced -378 |
| WOLVERINE ASSET MANAGEMENT LLC 0.05% of their portfolio | 42.7k $4.1m | New |
| Atlas Wealth LLC 0.47% of their portfolio | 34.0k $3.3m | New |
| MORGAN STANLEY 0.00% of their portfolio | 32.4k $3.1m | Added +12.3k |
| Banque Cantonale Vaudoise 0.09% of their portfolio | 25.0k $2.4m | Unchanged |
| CSS LLC/IL 0.07% of their portfolio | 16.2k $1.6m | Reduced -6.2k |
| EVOLVE PRIVATE WEALTH, LLC 0.09% of their portfolio | 15.9k $1.5m | Reduced -1.1k |
| XTX Topco Ltd 0.02% of their portfolio | 13.8k $1.3m | Added +10.1k |
| Quantedge Capital Pte Ltd 0.78% of their portfolio | 10.7k $1.0m | Reduced -3.7k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 10.3k $990.7k | New |
| Hudson Portfolio Management LLC 0.47% of their portfolio | 6.5k $624.5k | Reduced -1.8k |
| Logan Stone Capital, LLC 0.10% of their portfolio | 4.8k $466.2k | Unchanged |
| Almitas Capital LLC 0.10% of their portfolio | 4.2k $400.5k | Reduced -14.4k |
| BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 0.05% of their portfolio | 3.9k $372.2k | Added +910 |
| RAHLFS CAPITAL, LLC 0.25% of their portfolio | 3.5k $336.6k | Unchanged |
| CIBC Bancorp USA Inc. 0.00% of their portfolio | 2.9k $275.6k | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 2.8k $268.2k | New |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 2.8k $266.0k | New |
| HRT FINANCIAL LP 0.00% of their portfolio | 2.7k $257.0k | New |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 1.4k $134.2k | Added +274 |
| ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio | 1.2k $114.6k | Unchanged |
| UBS Group AG 0.00% of their portfolio | 409 $39.3k | Added +90 |
| Ancora Advisors LLC 0.00% of their portfolio | 200 $19.2k | Unchanged |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 66 $6.0k | Added +6 |
| JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio | 64 $5.9k | Unchanged |
| ASSETMARK, INC 0.00% of their portfolio | 4 $385 | Unchanged |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 1 $96 | Unchanged |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 0 $10 | Unchanged |