TWN · Taiwan Fund Inc · Holdings

$94.42 -0.14 (-0.15%) At close · Oct 20

Market Cap

$528.90M

5.74M

Volume · Oct 20 21.79K Avg daily vol (3M) 27.18K

Institutional ownership from SEC Form 13F filings. Investment managers with more than $100 million in U.S. equities must disclose their positions every quarter, within 45 days of quarter-end, so the holdings shown can lag the market by up to a quarter.

Use institutional holdings through the 13F API or MCP → See every holder of TWN: 13F, 13D and 13G, insiders and funds →

Institutional holdings are being reconciled with SEC filings. Holder totals and changes may be incomplete until reconciliation finishes.

The Sep 30, 2026 filing window is still open — showing the latest known positions. Funds that have not filed yet carry their prior-quarter positions; a fund that filed without this stock counts as sold out. Each fund's Change is measured against its own previous reported quarter, shown in the Reported column. Pick a completed quarter in the Quarter selector below to put every fund on one quarter and see the stock-wide activity breakdown.

Quarter:

Holders: 38

Total Value: $434,407,855

Total Shares: 4,514,418

Institutional Ownership Trend

27 quarters

Holder Concentration

Across 38 13F filers

Top Holder

47.1%

of institutional value

Top 5

85.7%

of institutional value

Top 10

93.7%

of institutional value

HHI

2,800

Highly concentrated

Who Holds TWN

Last 8 quarters through Sep 30, 2026 (filing window open)

Each kind of 13F filer's share of the common shares 13F filers report. Holder type comes from regulatory records, never the filer's name; style, turnover and horizon are measured from each filer's own 13F book. The quarter selector does not change this card.

Jun 30, 2026, the newest closed quarter: 37 filers, like-for-like change -2.6%; actively managed books -2.9%; index-like books +9.6%.

Holder type	Share	Filers	Change	New	Exited
Registered adviser	61.9%	18	-2.2%	3	0
Exempt adviser	0.2%	1	-25.6%	0	0
Adviser	20.5%	1	-7.4%	0	1
Bank	0.0%	2	-76.9%	0	1
Benefit plan	3.9%	2	0.0%	0	0
Non-US	0.0%	1	0.0%	0	0
Holding company	11.4%	3	+0.1%	0	0
Broker-dealer	0.0%	0	—	0	0
Unknown	2.0%	9	+31.7%	4	0

Style	Share	Filers	Change	New	Exited
Index-like	3.1%	2	+9.6%	0	0
Systematic-like	0.3%	1	+277.4%	0	0
Concentrated	48.9%	5	-5.1%	0	1
Diversified active	47.7%	29	-1.0%	7	1
Not measured	0.0%	0	—	0	0
Unknown	0.0%	0	—	0	0

Turnover	Share	Filers	Change	New	Exited
Low turnover	54.3%	15	-2.8%	1	1
Medium turnover	43.2%	13	-5.5%	1	1
High turnover	2.1%	7	+202.6%	4	0
Unknown	0.4%	2	+10.5%	1	0
Not measured	0.0%	0	—	0	0

Holding horizon	Share	Filers	Change	New	Exited
Short horizon	0.8%	4	+46.7%	1	0
Medium horizon	1.3%	6	+30.6%	1	0
Long horizon	87.9%	20	-4.2%	3	2
Unknown	10.0%	7	+7.2%	2	0
Not measured	0.0%	0	—	0	0

13F book size	Share	Filers	Change	New	Exited
Under $1B	7.9%	12	-1.0%	1	0
$1B to $10B	55.8%	9	-5.2%	1	1
$10B to $100B	35.3%	8	-0.3%	2	0
$100B or more	1.1%	8	+119.2%	3	1
Not measured	0.0%	0	—	0	0

Client base	Share	Filers	Change	New	Exited
Individuals and high net worth	2.1%	7	+53.6%	1	0
Pooled investment vehicles	54.3%	6	-3.1%	1	0
Registered funds and BDCs	0.1%	1	new	1	0
Pension and profit sharing plans	1.5%	1	-17.3%	0	0
Corporations	0.0%	1	0.0%	0	0
Diversified	3.9%	2	-1.9%	0	0
Unknown	38.1%	19	-3.2%	4	2

Private funds	Share	Filers	Change	New	Exited
Hedge funds	13.0%	10	+2.7%	2	0
Venture capital funds	0.0%	1	0.0%	0	0
Other private funds	47.1%	1	-5.1%	0	0
No private funds	2.1%	7	+54.5%	1	0
Unknown	37.8%	18	-3.0%	4	2

Location	Share	Filers	Change	New	Exited
United States	51.8%	30	-0.5%	7	2
Outside the US	48.2%	7	-4.7%	0	0

The Sep 30, 2026 filing window is still open, so its bar carries the Jun 30, 2026 positions of filers that have not filed yet.

How the mix is measured

Shares are 13F common shares restated to today's split basis; options and principal amounts are left out. The change compares only filers with a 13F in both quarters and keeps each filer in its bucket of the later quarter on both sides; a filer that continues under a new CIK is compared through its successor. Holder type comes from each filer's current regulatory profile; client base and private funds come from the Form ADV roster current at each quarter end (rosters from December 2019, so an earlier quarter reads Unknown). Style, turnover, horizon and book size are measured from each filer's 13F book in the newest measured quarter, and Not measured means none was. Actively managed books are those measured systematic-like, concentrated or diversified active.

Conviction and Crowding

37 13F filers, quarter ended Jun 30, 2026

Measured across every 13F filer's common-share book once the quarter's filing window closed. Crowding counts filers with high turnover or that advise private funds on Form ADV.

Conviction holders

5.41% of filers hold it in their top 10

Mar 31, 2026: 2

Holders above 5%

median weight 0.072%

Mar 31, 2026: 1

Crowding

—

no cover-page share count is dated within about a year of the quarter end

Private-fund advisers

—

of shares outstanding

Institutional ownership

—

no cover-page share count is dated within about a year of the quarter end

Top 10 holders

93.7%

of 13F shares, Herfindahl 0.280

Active holders

-2.9%

like-for-like share change of active filers

5% stakes on record

0 13D, 4 13G (3 institutional, 1 passive, 0 exempt)

How long holders have held it value-weighted 23.0 quarters

Under 1 year 3.11% 1 to 3 years 4.82% 3 years or more 92.1% Since coverage start 0.000%

Managers in the top fifth by current three-year FundScore alpha were net buyers of $0 (0 buying, 0 selling).

Estimated Holder Cost Basis

Quarter ended Jun 30, 2026, on that quarter's share basis

Estimated, never filed: each 13F buy is costed at its quarter's average traded price and each sale keeps the average cost, so this is what holders paid on average if they traded evenly through each quarter.

Estimated avg cost

$48.65

estimated per share

Mar 31, 2026: $40.78

Quarter-end price

$96.17

implied by 13F values

Estimated gain or loss

+97.7%

price against the estimated cost

Estimated at a loss

0.000%

of costed 13F value

Estimated cost covers 15.6% of the 13F shares; positions already held when a filer's 13F history starts, or bought in a quarter without a trusted average price, have no estimate.

Fund Ownership of TWN by Fund Type

Registered funds' Form N-PORT reports for the quarter ended Jun 30, 2026

Index funds and index ETFs hold 0.00% of shares outstanding.

Fund type	Of shares outstanding	Change	Shares	Funds
Index funds	0.00%	0.00 pp	0	0
Index ETFs	0.00%	0.00 pp	0	0
Active ETFs	0.39%	0.00 pp	22,534	1
Active funds	3.43%	+0.45 pp	197,154	4
Unclassified	0.00%	0.00 pp	0	0
All registered funds	3.83%	+0.45 pp	219,688	5

How fund types are measured

Each fund series counts once, with its latest Form N-PORT report dated inside the quarter; only long share positions count, restated to today's split basis. The fund type is the series' latest Form N-CEN answer on or before the quarter end (the index-fund box and the exchange-traded flag), never its name. Unclassified funds have no usable N-CEN; unit investment trusts are among them, so index ownership is a floor. Funds sit inside their advisers' 13F reports, so these shares overlap the 13F figures and are never added to them.

Holder type: Registered adviser 18 Exempt adviser 1 Adviser 1 Bank 3 Benefit plan 2 Non-US 1 Holding company 3 Unknown 9

Showing 38 of 38

All Common Calls Puts

Compact Export CSV

Holder

Value (USD)

% of 13F

CITY OF LONDON INVESTMENT MANAGEMENT CO LTD

$204,481,654

47.07%

2,126,252

LAZARD ASSET MANAGEMENT LLC

$88,933,496

20.47%

924,753

Allspring Global Investments Holdings, LLC

$46,333,071

10.67%

481,783

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Allspring Global Investments, LLC reporting on behalf of UBS ASSET MANAGEMENT AMERICAS INC	481,783	$46,333,071	100.0%	Defined

Saba Capital Management, L.P.

$21,801,161

5.02%

226,694

1607 Capital Partners, LLC

$10,673,812

2.46%

110,989

PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO

$10,390,879

2.39%

108,047

STRS OHIO

$6,731,900

1.55%

70,000

Matisse Capital

$6,677,755

1.54%

69,437

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Manager 1	22,755	$2,188,348	32.8%	Other
Held directly	46,682	$4,489,407	67.2%	Sole

Rock Creek Group LLC

$6,367,415

1.47%

66,210

Thomas J. Herzfeld Advisors, Inc.

$4,569,998

1.05%

47,520

Shaker Financial Services, LLC

$4,527,868

1.04%

44,417

WOLVERINE ASSET MANAGEMENT LLC

$4,103,381

0.94%

42,668

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Wolverine Holdings, LLC	42,668	$4,103,381	100.0%	Defined

Atlas Wealth LLC

$3,269,106

0.75%

33,993

MORGAN STANLEY

$3,116,194

0.72%

32,403

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
MORGAN STANLEY CAPITAL SERVICES, LLC	2,243	$215,709	6.9%	Defined
MORGAN STANLEY SMITH BARNEY LLC	3,233	$310,917	10.0%	Defined
PARAMETRIC PORTFOLIO ASSOCIATES LLC	26,927	$2,589,568	83.1%	Defined

Banque Cantonale Vaudoise

$2,404,250

0.55%

25,000

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Manager 1	25,000	$2,404,250	100.0%	Defined

CSS LLC/IL

$1,554,491

0.36%

16,164

EVOLVE PRIVATE WEALTH, LLC

$1,533,142

0.35%

15,942

XTX Topco Ltd

$1,327,146

0.31%

13,800

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
XTX EXECUTION SERVICES LLC joint	13,800	$1,327,146	100.0%	Defined

Quantedge Capital Pte Ltd

$1,032,481

0.24%

10,736

JANE STREET GROUP, LLC

$990,743

0.23%

10,302

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Jane Street Capital, LLC	24	$2,308	0.2%	Defined
Jane Street Global Trading, LLC	10,278	$988,435	99.8%	Defined

Hudson Portfolio Management LLC

$624,527

0.14%

6,494

Logan Stone Capital, LLC

$466,232

0.11%

4,848

Almitas Capital LLC

$400,451

0.09%

4,164

BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC

$372,177

0.09%

3,870

RAHLFS CAPITAL, LLC

$336,595

0.08%

3,500

CIBC Bancorp USA Inc.

$275,623

0.06%

2,866

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
CIBC Private Wealth Advisors, Inc.	2,866	$275,623	100.0%	Defined

SUSQUEHANNA INTERNATIONAL GROUP, LLP

$268,218

0.06%

2,789

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
G1 EXECUTION SERVICES, LLC	2,789	$268,218	100.0%	Other

FIRST TRUST ADVISORS LP

$266,006

0.06%

2,766

HRT FINANCIAL LP

$257,927

0.06%

2,682

OSAIC HOLDINGS, INC.

$133,964

0.03%

1,393

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
OSAIC WEALTH, INC.	1,393	$133,964	100.0%	Defined

ROTHSCHILD INVESTMENT LLC

$114,634

0.03%

1,192

UBS Group AG

$39,333

0.01%

409

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
UBS Financial Services Inc	319	$30,678	78.0%	Defined
UBS Securities LLC	90	$8,655	22.0%	Defined

Ancora Advisors LLC

$19,234

0.00%

200

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
ANCORA PRIVATE WEALTH ADVISORS, LLC	200	$19,234	100.0%	Sole

ROYAL BANK OF CANADA

$6,347

0.00%

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
RBC Trust Co (Delaware) Ltd	66	$6,347	100.0%	Defined

JONES FINANCIAL COMPANIES LLLP

$6,154

0.00%

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Edward D. Jones & Co., L.P.	64	$6,154	100.0%	Sole

ASSETMARK, INC

$384

0.00%

DEUTSCHE BANK AG\

$96

0.00%

WELLS FARGO & COMPANY/MN

$10

0.00%

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
WELLS FARGO CLEARING SERVICES, LLC	0	$0	0.0%	Defined

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