Vault-13

TAIWAN FD INC TWN

COM · Closed-End Fund · CUSIP 874036106

32 institutional holders +2 vs Q1 2025
5,343,5105.3m shares reported held*
$239.4mreported value*
2 new 7 added 13 reduced 0 sold out net sold ≈ $5.8m (-128.8k shares)

* 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 ≈ $44.81.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

02040Q3 22: 27Q4 22: 28Q1 23: 29Q2 23: 28Q3 23: 32Q4 23: 30Q1 24: 30Q2 24: 34Q3 24: 34Q4 24: 35Q1 25: 30Q2 25: 3232Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202227
Q4 202228
Q1 202329
Q2 202328
Q3 202332
Q4 202330
Q1 202430
Q2 202434
Q3 202434
Q4 202435
Q1 202530
Q2 202532

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
20020Q3 23: 12 bought or addedQ3 23: 12 cut or sold outQ4 23: 17 bought or addedQ4 23: 11 cut or sold outQ4 23Q1 24: 11 bought or addedQ1 24: 14 cut or sold outQ2 24: 12 bought or addedQ2 24: 14 cut or sold outQ2 24Q3 24: 9 bought or addedQ3 24: 15 cut or sold outQ4 24: 12 bought or addedQ4 24: 14 cut or sold outQ4 24Q1 25: 10 bought or addedQ1 25: 16 cut or sold outQ2 25: 9 bought or addedQ2 25: 13 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20231212
Q4 20231711
Q1 20241114
Q2 20241214
Q3 2024915
Q4 20241214
Q1 20251016
Q2 2025913

Biggest buyers

Saba Capital Management, L.P. Added +88,192+88.2k
Karpus Management, Inc. Added +42,256+42.3k
Matisse Capital Added +9,000+9.0k
Rock Creek Group LLC New +5,700+5.7k
Quantedge Capital Pte Ltd Added +765+765
OSAIC HOLDINGS, INC. Added +309+309
ROYAL BANK OF CANADA Added +102+102
CSS LLC/IL Added +73+73
TOTAL INVESTMENT MANAGEMENT INC New +1+1

Biggest sellers

CITY OF LONDON INVESTMENT MANAGEMENT CO LTD Reduced -96,841-96.8k
Allspring Global Investments Holdings, LLC Reduced -89,551-89.6k
1607 Capital Partners, LLC Reduced -27,192-27.2k
LAZARD ASSET MANAGEMENT LLC Reduced -23,279-23.3k
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO Reduced -18,297-18.3k
Thomas J. Herzfeld Advisors, Inc. Reduced -11,003-11.0k
Almitas Capital LLC Reduced -3,983-4.0k
UBS Group AG Reduced -2,460-2.5k
LANDSCAPE CAPITAL MANAGEMENT, L.L.C. Reduced -935-935
BANK OF AMERICA CORP /DE/ Reduced -756-756

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.

HolderStakeChangeShares Last filed
CITY OF LONDON INVESTMENT MANAGEMENT CO LTD 13G · institution -1.4 pts · filed 2026-07-24 38.2% -1.4 pts 2.1m≈ $204.5m 2026-07-24
LAZARD ASSET MANAGEMENT LLC 13G · institution -1.7 pts · filed 2026-05-15 16.3% -1.7 pts 923.8k≈ $88.8m 2026-05-15
Allspring Global Investments Holdings, LLC 13G · institution -1.7 pts · filed 2026-01-08 8.6% -1.7 pts 511.4k≈ $49.2m 2026-01-08

Insider purchases and sales in Q2 2025

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)

BuyingSelling
101Q3 23: 1 buyingQ3 23: 0 sellingQ4 23: 0 buyingQ4 23: 0 sellingQ4 23Q1 24: 1 buyingQ1 24: 0 sellingQ2 24: 0 buyingQ2 24: 0 sellingQ2 24Q3 24: 0 buyingQ3 24: 0 sellingQ4 24: 0 buyingQ4 24: 0 sellingQ4 24Q1 25: 0 buyingQ1 25: 0 sellingQ2 25: 0 buyingQ2 25: 0 sellingQ2 25
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q3 20231$30.1k0——
Q4 20230—0——
Q1 20241$38.2k0——
Q2 20240—0——
Q3 20240—0——
Q4 20240—0——
Q1 20250—0——
Q2 20250—0——

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 CITY OF LONDON INVESTMENT MANAGEMENT CO LTD 10.23% of their portfolio London, X0 2,457,6522.5m $110.1m $110.1m 10.23% Reduced -96.8k -96,841
2 LAZARD ASSET MANAGEMENT LLC 0.07% of their portfolio NEW YORK, NY 1,109,5911.1m $49.7m $49.7m 0.07% Reduced -23.3k -23,279
3 Allspring Global Investments Holdings, LLC 0.05% of their portfolio CHARLOTTE, NC 688,355688.4k $30.8m $30.8m 0.05% Reduced -89.6k -89,551
4 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.05% of their portfolio COLUMBUS, OH 313,388313.4k $14.0m $14.0m 0.05% Reduced -18.3k -18,297
5 1607 Capital Partners, LLC 0.52% of their portfolio Richmond, VA 144,505144.5k $6.5m $6.5m 0.52% Reduced -27.2k -27,192
6 Saba Capital Management, L.P. 0.15% of their portfolio NEW YORK, NY 123,446123.4k $5.5m $5.5m 0.15% Added +88.2k +88,192
7 Karpus Management, Inc. 0.13% of their portfolio Pittsford, NY 91,14591.1k $4.1m $4.1m 0.13% Added +42.3k +42,256
8 Matisse Capital 1.78% of their portfolio PORTLAND, OR 84,00084.0k $3.8m $3.8m 1.78% Added +9.0k +9,000
9 STRS OHIO 0.01% of their portfolio COLUMBUS, OH 70,00070.0k $3.1m $3.1m 0.01% Unchanged
10 Thomas J. Herzfeld Advisors, Inc. 1.01% of their portfolio MIAMI BEACH, FL 63,10163.1k $2.8m $2.8m 1.01% Reduced -11.0k -11,003
11 CSS LLC/IL 0.14% of their portfolio CHICAGO, IL 50,16750.2k $2.2m $2.2m 0.14% Added +73 +73
12 Shaker Financial Services, LLC 0.70% of their portfolio Arlington, VA 42,90142.9k $1.9m $1.9m 0.70% Reduced -371 -371
13 Quantedge Capital Pte Ltd 1.52% of their portfolio Singapore, U0 37,03737.0k $1.7m $1.7m 1.52% Added +765 +765
14 Banque Cantonale Vaudoise 0.05% of their portfolio LAUSANNE, V8 25,00025.0k $1.1m $1.1m 0.05% Unchanged
15 LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.04% of their portfolio Englewood, NJ 10,25010.2k $459.3k $459.3k 0.04% Reduced -935 -935
16 Hudson Portfolio Management LLC 0.35% of their portfolio Garrison, NY 8,4208.4k $377.3k $377.3k 0.35% Reduced -400 -400
17 Rock Creek Group LLC 0.03% of their portfolio Washington, DC 5,7005.7k $255.4k $255.4k 0.03% New
18 Almitas Capital LLC 0.05% of their portfolio SANTA MONICA, CA 4,5644.6k $204.5k $204.5k 0.05% Reduced -4.0k -3,983
19 UBS Group AG 0.00% of their portfolio ZURICH, V8 2,4452.4k $109.6k $109.6k 0.00% Reduced -2.5k -2,460
20 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 0.02% of their portfolio BLUE BELL, PA 2,3662.4k $106.0k $106.0k 0.02% Unchanged
21 CIBC Private Wealth Group LLC 0.00% of their portfolio ATLANTA, GA 2,0852.1k $93.4k $93.4k 0.00% Unchanged
22 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 1,6801.7k $75.3k $75.3k 0.00% Unchanged
23 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,5681.6k $70.3k $70.3k 0.00% Reduced -756 -756
24 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,4721.5k $66.0k $66.0k 0.00% Reduced -153 -153
25 ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio CHICAGO, IL 1,1921.2k $53.4k $53.4k 0.00% Unchanged
26 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 1,0671.1k $47.9k $47.9k 0.00% Added +309 +309
27 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 210210 $10.0k $10.0k 0.00% Added +102 +102
28 Ancora Advisors LLC 0.00% of their portfolio Cleveland, OH 200200 $9.0k $9.0k 0.00% Unchanged
29 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 11 $36 $36 0.00% Unchanged
30 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 11 $45 $45 0.00% Unchanged
31 TOTAL INVESTMENT MANAGEMENT INC 0.00% of their portfolio SCOTTSDALE, AZ 11 $45 $45 0.00% New
32 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged