Taiwan Director & Officer Shareholdings + Share Pledge Ratio (TWSE + TPEx)

Get structured JSON access to the monthly shareholding balance of every director, supervisor, officer and 10% shareholder of every company that files with Taiwan's Market Observation Post System — including the share-pledge ratio, the single most watched governance red flag in the Taiwanese market. Listed, OTC and emerging boards, with history back to 1999.

Taiwan requires every insider to disclose, every month, how many shares they hold, how many of those are pledged as loan collateral, and how many sit with their spouse, minor children or a nominee. The exchanges' open-data feeds carry only the latest month. This Actor serves that month for the whole market in one request per board, reads any older month straight out of MOPS, and verifies every published pledge ratio arithmetically before emitting a row.

Why this data matters

• Pledged shares are borrowed money against a stake. A chairman who has pledged 98% of their holding has financed it with debt and cannot ride out a drawdown — a falling price triggers a margin call, and the forced sale of a control block drags the price further. On 2026-06, 225 published TWSE rows held over a million shares with at least 80% of them pledged, including 佳峻投資, chairman of 華建 (2530), with 264,150,000 of 267,222,599 shares pledged.
• Insider accumulation, measured against the day they took office. Every row carries both shares_at_election and shares_held, so you can see who has bought since being elected and who has been quietly selling down, without reconstructing it from transaction filings.
• The household, not just the individual. related_party_shares is the block held by the insider's spouse, minor children and nominees — disclosed precisely because it sits under the same control. It is often larger than the insider's own line.
• Real history, not an accumulating snapshot. MOPS answers for any month back to 1999-01, so you can chart a control block's pledge ratio through the 2008 crisis or watch a founder's stake decay over twenty years.
• All three boards. 1,080 TWSE, 891 TPEx and 354 emerging-board companies filed for 2026-06 — 51,646 insider rows in a single run.

Output

One record per insider, per office held, per month.

{
  "data_month": "2026-06",
  "report_date": "2026-07-20",
  "market": "TWSE",
  "stock_code": "2330",
  "company_name": "台積電",
  "title": "董事長本人",
  "role_category": "DIRECTOR",
  "is_juridical_representative": false,
  "holder_name": "魏哲家",
  "shares_at_election": 6392834,
  "shares_held": 7452349,
  "pledged_shares": 1600000,
  "pledged_ratio_pct": 21.46,
  "implied_trust_shares": null,
  "pledge_ratio_uses_trust_denominator": false,
  "related_party_shares": 700261,
  "related_party_pledged_shares": 0,
  "related_party_pledged_ratio_pct": 0,
  "household_shares": 8152610,
  "household_pledged_shares": 1600000,
  "source": "OPENAPI"
}

Field	Meaning
data_month	The month the balance is stated as of, YYYY-MM
report_date	出表日期 — when the compiled report was published, about the 20th of the following month. null on rows read from MOPS, which does not print it
market	TWSE, TPEX or EMERGING
title / role_category	職稱 verbatim, plus a normalized category: DIRECTOR, INDEPENDENT_DIRECTOR, SUPERVISOR, INDEPENDENT_SUPERVISOR, MANAGER, MAJOR_SHAREHOLDER, OTHER
is_juridical_representative	True when the title ends 之法人代表人 — the person occupying a corporate holder's board seat
shares_at_election / shares_held	選任時持股 and 目前持股. Both exclude preferred shares and discretionary-retention trust shares
pledged_shares / pledged_ratio_pct	設質股數 and the ratio exactly as published
implied_trust_shares	Trust shares recovered from the ratio — see below. Not a published column
related_party_*	The spouse / minor children / nominee block, its pledged portion and ratio
household_*	Insider plus related party, computed here
source	OPENAPI (whole board, latest month) or MOPS (one company-month, any month back to 1999)

Four things about this report that will bite you

1. One person can appear several times, with the same shares each time. MOPS states it outright: 內部人若具二種以上身份，每種身份別會揭露同樣股數，勿重複累計 — an insider holding two offices is published once per office, repeating the identical holding. 魏哲家 appears at 台積電 (2330) as both 董事長本人 and 總經理本人 with 7,452,349 shares on both rows. On 2026-06, 3,469 of 22,508 company-person pairs on the TWSE board were published more than once. Summing shares_held over a company therefore double-counts. Deduplicate on (stock_code, holder_name) first, or filter to a single role_category.

2. A representative's row is not the corporate seat's holding. A corporate shareholder sitting on a board is published twice: 董事本人 carries the company's own stake, and 董事之法人代表人 carries the personal holding of the individual who occupies the seat — usually zero. Use is_juridical_representative to tell them apart; treating a representative's row as the block's size understates it to nothing. One corporate shareholder can also hold several seats, and then its identical holding is published once per seat, each paired with a different representative — 台灣鋼鐵 appears twice at 精剛 (1584) with 20,000,000 shares on both rows, for 林輝政's seat and 顏慶利's. That is the source data, not a duplicate.

3. The pledge ratio has a denominator you cannot see. Note 2 of the report defines it as pledged ÷ (currently held + shares under a discretionary-retention trust), and the trust leg is not a column anywhere on the page. Most of the time it is zero and the ratio is just pledged ÷ held. When it is not, the published ratio comes out lower than pledged ÷ held would suggest — 李瑞勳 at 廣隆 (1537) shows 1,100,000 pledged against 4,751,802 held, which is 23.15%, but the report prints 19.20%. This Actor recovers the hidden balance and puts it in implied_trust_shares, flagging the row with pledge_ratio_uses_trust_denominator. Across all 51,646 rows of 2026-06 that was 46 of the 2,280 pledged rows.

4. The published ratio is truncated, not rounded. 21.4699% is printed as 21.46, not 21.47. Verified against all 51,646 rows — do not expect a recomputed ratio to match to the last decimal unless you truncate too.

Data integrity

Two independent publications carry this report, and this Actor checks itself against both.

Every pledge ratio is reproduced arithmetically, on every run. For each pledged row the published ratio must equal either floor(pledged ÷ held) to two decimals, or the same expression with a positive trust balance in the denominator. Across the three boards for 2026-06 — 51,646 rows, 2,280 of them pledged — every single one reproduced: 2,234 exactly, 46 via a recovered trust balance, none left unexplained. Anything that fails is named in the log rather than published quietly.

The open-data feed is cross-checked against MOPS' own report. The TWSE and TPEx feeds (t187ap11_L, mopsfin_t187ap11_O, mopsfin_t187ap11_R) and the MOPS 董監事持股餘額明細 report are separate renderings of the same filings, reached through completely different query paths. Comparing them company by company for 2026-06 — 台泥 (52 insiders), 台積電 (43), 鴻海 (20), 玉山金 (57) — gave 172 rows with zero differences on any of the seven numeric columns. The check runs on every execution (crossCheck, on by default) over the first three companies of each board, so a change in either publication shows up as a warning in the log.

Beyond that, the parser refuses to guess. The MOPS table header is verified cell by cell before a single row is read, and the month MOPS echoes back must match the month requested — a report served for the wrong month fails the run rather than filing one month's balances under another. An unknown security code, a month before the archive begins and a month that has not happened yet all return no rows and no error, because MOPS answers all three with the same empty page.

Input

Field	Type	Description
startMonth	string	YYYY-MM. Leave empty for the latest published month — the fast path, whole market, one request per board. History goes back to 1999-01
endMonth	string	YYYY-MM inclusive; empty = just the start month
markets	array	Any of TWSE, TPEX, EMERGING. Empty = all three
stockCodes	array	e.g. ["2330", "2454"]. Empty = every company. Essential for historical months
roleCategories	array	Filter by office category. Empty = all
pledgedOnly	boolean	Drop rows with no pledged shares
minPledgeRatio	integer	Keep only rows at or above this published pledge ratio
minShares	integer	Keep only rows holding at least this many shares
maxCompaniesPerMonth	integer	Cap on companies fetched for a historical month without stockCodes. Default 100, 0 = no cap. Anything dropped is named in the log
crossCheck	boolean	Read three companies back off MOPS and log whether the feed reproduces. Default true

Example — the whole market, latest month:

{}

Example — a pledge-risk screen across the listed and OTC boards:

{
  "markets": ["TWSE", "TPEX"],
  "pledgedOnly": true,
  "minPledgeRatio": 70,
  "minShares": 1000000
}

Example — six years of one founder's stake and its pledge ratio:

{
  "startMonth": "2020-01",
  "endMonth": "2026-06",
  "stockCodes": ["2330"],
  "roleCategories": ["DIRECTOR"]
}

Pricing & cost control

Pay per result: $0.50 / 1,000 records.

• Whole market, latest month: 51,646 records ≈ $25.82 (TWSE 27,451 + TPEx 17,499 + emerging 6,696, measured on 2026-06)
• TWSE only, latest month: 27,451 records ≈ $13.73
• A pledge-risk screen (pledgedOnly + minPledgeRatio: 70) across TWSE + TPEx: a few hundred records ≈ $0.15
• Six years of monthly history for one ticker's directors: ~450 records ≈ $0.23

Filters are applied before anything is written, so pledgedOnly, minPledgeRatio, minShares, roleCategories and stockCodes all cut the bill directly — a full-market screen for leveraged insiders costs a fraction of the full board dump. Historical months are the slow path, not the expensive one: MOPS serves one company-month per request, so 10 tickers over 12 months is 120 requests but only a few hundred records.

Data source & reliability

• Latest month direct from the TWSE and TPEx open-data feeds (t187ap11_L, mopsfin_t187ap11_O, mopsfin_t187ap11_R); any other month direct from MOPS 董監事持股餘額明細 (ajax_stapap1) — the exchanges' own publications, no third-party intermediaries
• Coverage starts at 1999-01; earlier months return the same empty page for every company, and the Actor clamps requests up to that floor rather than emitting empty runs
• The report is compiled monthly and published around the 20th of the following month. MOPS is typically a month ahead of the open-data feed, so a month the feed does not yet carry is fetched from MOPS automatically
• 公開發行 (registered but not traded) companies are out of scope — they are published in a layout without a security code
• Titles are read by longest keyword match, so 獨立董事 is never collapsed into 董事 and 副總經理 is never read as 經理. A title MOPS has not used before lands in OTHER rather than failing the run — the roster of offices is the filing company's to write

Use cases

• Governance screening — rank a portfolio by insider pledge ratio and flag control blocks financed with debt before a drawdown forces them out
• Insider conviction — compare shares_held against shares_at_election across a board to see who has been buying since taking office
• Event studies — pull the month before and after a proxy fight, a placement or a resignation and diff the entire insider roster
• Ownership mapping — trace which corporate entities hold board seats and who represents them, across a whole market in one run
• Backtesting — build a monthly pledge-ratio factor going back two decades and test it against forward returns

Taiwan Market Data Suite

This Actor is part of a suite of 19 Taiwan market data APIs by chamarix — official sources only, cross-validated against independent official endpoints, clean JSON out. Code samples for the whole suite: GitHub.

Market data:

• twse-institutional-trades — Daily institutional buy/sell (foreign, investment trust, dealer) per stock — TWSE listed
• tpex-institutional-trades — Daily institutional buy/sell per stock — TPEx OTC market
• taiwan-monthly-revenue — Monthly revenue of 1,900+ listed & OTC companies, MoM/YoY
• taiwan-financial-statements — Quarterly income statement, balance sheet & cash flow back to 2013
• taiwan-dividend-calendar — Ex-dividend / ex-rights dates, reference prices & payouts back to 2003
• taiwan-shareholder-meetings — Shareholder meeting dates, book closure periods, board elections & e-voting since 2005
• taiwan-emerging-stock-quotes — Emerging Stock Board (興櫃) quotes, pre-IPO company register & listing-application status
• taiwan-margin-trading — Daily margin trading & short sale balances per stock
• taiwan-sbl-short-sale-balance — Securities-lending short sale balances per stock
• taiwan-day-trading-stats — Day-trading volume, value & ratio per stock since 2014
• tdcc-shareholding-dispersion — Weekly TDCC shareholding dispersion (retail vs whale structure)
• taiwan-foreign-shareholding — Foreign ownership percentage & remaining quota per stock
• taifex-institutional-derivatives — Institutional futures & options positions (TAIFEX), incl. put/call ratio
• taiwan-stock-alerts — Watch-list, disposition & short-sale suspension alerts
• taiwan-insider-share-transfers — Insider share-transfer filings (directors, officers, 10% holders) since 2002
• taiwan-block-trades — Every block trade (鉅額交易) with price, size & basket constituents since 2005

Government & civic data:

• taiwan-legislator-monitor — Legislative Yuan bills, legislators & meetings
• taiwan-tender-monitor — Government e-procurement tenders (open calls, awards, failures)