City of London boosts stake to 38% in Taiwan Fund (TWN) common stock

Rhea-AI Filing Summary

City of London Investment Management Company Limited reported beneficial ownership of 2,252,935 shares of Taiwan Fund Inc., representing 38.0% of the common stock as of December 31, 2025. City of London has sole power to vote and dispose of these shares, with no shared voting or dispositive power.

The shares are owned by various City of London-managed funds and segregated accounts, for which it provides investment advisory services. One segregated account is known to have the right to receive dividends or sale proceeds for more than 5% of the shares. The holding is certified as being in the ordinary course of business and not for the purpose of changing or influencing control of Taiwan Fund Inc.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 9)

Taiwan Fund Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

874036106

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 874036106

1

Names of Reporting Persons

City of London Investment Management Company Limited

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,252,935.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,252,935.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,252,935.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

38.0 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Taiwan Fund Inc
(b)	Address of issuer's principal executive offices: One Lincoln Street, Boston, MA 02111
Item 2.
(a)	Name of person filing: This statement is being filed by City of London Investment Management Company Limited ("CLIM" or the "Reporting Person"). CLIM is a fund manager, which specializes in investing in closed-end investment companies and is a registered investment adviser under Section 203 of the Investment Advisers Act of 1940. CLIM is controlled by City of London Investment Group plc ("CLIG"), which is listed on the London Stock Exchange. However, in accordance with SEC Release No. 34-39538 (January 12, 1998), effective informational barriers have been established between CLIM and CLIG such that voting and investment power over the subject securities is exercised by CLIM independently of CLIG, and, accordingly, attribution of beneficial ownership is not required between CLIM and CLIG. CLIM is principally engaged in the business of providing investment advisory services to various public and private investment funds, including Emerging (BMI) Markets Country Fund ("BMI"), a private investment fund organized as a Delaware business trust, Emerging Markets Free Fund ("CF"), a private investment fund organized as a Delaware business trust, Emerging Markets Global Fund ("CG"), a private investment fund organized as a Delaware business trust, Emerging Markets Investable Fund ("CI"), a private investment fund organized as a Delaware business trust, Global Emerging Markets Fund ("EUREKA"), a private investment fund organized as a Delaware business trust, The Emerging World Fund ("EWF"), a Dublin, Ireland-listed open-ended investment company, Emerging (Free) Markets Country Fund ("FREE"), a private investment fund organized as a Delaware business trust, Emerging Markets Country Fund ("GBL"), a private investment fund organized as a Delaware business trust, and unaffiliated third-party segregated accounts over which CLIM exercises discretionary voting and investment authority (the "Segregated Accounts"). BMI, CF, CG, CI, EUREKA, EWF, FREE and GBL are collectively referred to herein as the "City of London Funds." The Shares to which this Schedule 13G relates are owned directly by the City of London Funds and the Segregated Accounts.
(b)	Address or principal business office or, if none, residence: 77 Gracechurch Street London EC3V 0AS England
(c)	Citizenship: England and Wales
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 874036106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 2,252,935.00
(b)	Percent of class: 38.0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 2,252,935.00
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 2,252,935.00
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. One of the Segregated Accounts is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, more than 5% of the Shares reported herein.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

City of London Investment Management Company Limited

Signature:	/s/ Catrina Reagan
Name/Title:	Catrina Reagan/US Chief Compliance Officer
Date:	02/13/2026

FAQ

What percentage of Taiwan Fund Inc. (TWN) does City of London Investment Management own?

City of London Investment Management reports beneficial ownership of 38.0% of Taiwan Fund Inc.’s common stock. This corresponds to 2,252,935 shares held as of December 31, 2025, giving it a significant stake with sole voting and dispositive power.

How many Taiwan Fund Inc. (TWN) shares are beneficially owned by City of London Investment Management?

City of London Investment Management beneficially owns 2,252,935 Taiwan Fund Inc. common shares. This stake represents 38.0% of the outstanding class, with City of London having sole authority to vote and dispose of the reported shares on behalf of its funds and accounts.

Does City of London Investment Management seek to influence control of Taiwan Fund Inc. (TWN)?

City of London Investment Management certifies that the Taiwan Fund Inc. shares were acquired and are held in the ordinary course of business. It states they were not acquired and are not held to change or influence control, other than activities tied to a specific nomination rule.

Who actually owns the Taiwan Fund Inc. (TWN) shares reported by City of London Investment Management?

The reported Taiwan Fund Inc. shares are owned directly by various City of London-managed funds and unaffiliated segregated accounts. City of London Investment Management acts as investment adviser with discretionary voting and investment authority over these portfolios, rather than holding the shares in its own name.

Does any other investor hold more than 5% of Taiwan Fund Inc. (TWN) through City of London accounts?

Yes. City of London Investment Management states that one segregated account has the right to receive dividends or sale proceeds from more than 5% of the reported Taiwan Fund Inc. shares, reflecting a significant economic interest for that particular client.

What filing did City of London Investment Management submit regarding Taiwan Fund Inc. (TWN)?

City of London Investment Management submitted an amended Schedule 13G reporting its beneficial ownership in Taiwan Fund Inc. as of December 31, 2025. The filing details its 2,252,935-share, 38.0% stake and confirms the holding is for ordinary-course investment purposes.