Filed: 11/12/2025ACC: 0001398344-25-020706
📋 What this filing means
SHAH CAPITAL MANAGEMENT filed this quarterly 13F‑HR report disclosing 13 equity positions with a total reported market value of $558.98M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
13
Positions
$558.98M
Total AUM (reported)
44.73M
Total Shares
Allocation by class
SPONSORED ADS$298.16M53.3%
COM$110.01M19.7%
COM NEW$102.41M18.3%
SHORT TERM TREAS$20.98M3.8%
SPON ADR$16.17M2.9%
SPON ADR REP A$4.47M0.8%
ORD SHS$3.70M0.7%
Portfolio Concentration
Top 3$434.20M77.7%
4–10$118.01M21.1%
11–25$6.77M1.2%
Top 3 weight
77.7%
Top 10 weight
98.8%
Voting Authority Distribution
Total shares with voting rights: 44.73M
Sole
Full voting authority
44.73M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole13
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings13
Rows:
VEON LTD
SOLEShares4.82M
TypeSH
Market value$262.59M
46.98%
Sole
4.82M
Shared
0.00
None
0.00
NOVAVAX INC
SOLEShares11.81M
TypeSH
Market value$102.41M
18.32%
Sole
11.81M
Shared
0.00
None
0.00
CHINA YUCHAI INTL LTD
SOLEShares1.67M
TypeSH
Market value$69.20M
12.38%
Sole
1.67M
Shared
0.00
None
0.00
EMEREN GROUP LTD
SOLEShares18.82M
TypeSH
Market value$35.57M
6.36%
Sole
18.82M
Shared
0.00
None
0.00
CANADIAN SOLAR INC
SOLEShares1.69M
TypeSH
Market value$21.99M
3.93%
Sole
1.69M
Shared
0.00
None
0.00
VANGUARD SCOTTSDALE FDS
SOLEShares356.53K
TypeSH
Market value$20.98M
3.75%
Sole
356.53K
Shared
0.00
None
0.00
NEW ORIENTAL ED & TECHNOLOGY
SOLEShares304.74K
TypeSH
Market value$16.17M
2.89%
Sole
304.74K
Shared
0.00
None
0.00
ANTERO MIDSTREAM CORP
SOLEShares586K
TypeSH
Market value$11.39M
2.04%
Sole
586K
Shared
0.00
None
0.00
GANNETT CO INC
SOLEShares1.80M
TypeSH
Market value$7.43M
1.33%
Sole
1.80M
Shared
0.00
None
0.00
BAIDU INC
SOLEShares33.94K
TypeSH
Market value$4.47M
0.80%
Sole
33.94K
Shared
0.00
None
0.00
DOLE PLC
SOLEShares275.40K
TypeSH
Market value$3.70M
0.66%
Sole
275.40K
Shared
0.00
None
0.00
TRONOX HOLDINGS PLC
SOLEShares400K
TypeSH
Market value$1.61M
0.29%
Sole
400K
Shared
0.00
None
0.00
CHEER HLDG INC
SOLEShares2.16M
TypeSH
Market value$1.46M
0.26%
Sole
2.16M
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
VEON LTDSOLE | SPONSORED ADS | 4.82M | SH | $262.59M 46.98% | 4.82M | 0.00 | 0.00 |
NOVAVAX INCSOLE | COM NEW | 11.81M | SH | $102.41M 18.32% | 11.81M | 0.00 | 0.00 |
CHINA YUCHAI INTL LTDSOLE | COM | 1.67M | SH | $69.20M 12.38% | 1.67M | 0.00 | 0.00 |
EMEREN GROUP LTDSOLE | SPONSORED ADS | 18.82M | SH | $35.57M 6.36% | 18.82M | 0.00 | 0.00 |
CANADIAN SOLAR INCSOLE | COM | 1.69M | SH | $21.99M 3.93% | 1.69M | 0.00 | 0.00 |
VANGUARD SCOTTSDALE FDSSOLE | SHORT TERM TREAS | 356.53K | SH | $20.98M 3.75% | 356.53K | 0.00 | 0.00 |
NEW ORIENTAL ED & TECHNOLOGYSOLE | SPON ADR | 304.74K | SH | $16.17M 2.89% | 304.74K | 0.00 | 0.00 |
ANTERO MIDSTREAM CORPSOLE | COM | 586K | SH | $11.39M 2.04% | 586K | 0.00 | 0.00 |
GANNETT CO INCSOLE | COM | 1.80M | SH | $7.43M 1.33% | 1.80M | 0.00 | 0.00 |
BAIDU INCSOLE | SPON ADR REP A | 33.94K | SH | $4.47M 0.80% | 33.94K | 0.00 | 0.00 |
DOLE PLCSOLE | ORD SHS | 275.40K | SH | $3.70M 0.66% | 275.40K | 0.00 | 0.00 |
TRONOX HOLDINGS PLCSOLE | SHS | 400K | SH | $1.61M 0.29% | 400K | 0.00 | 0.00 |
CHEER HLDG INCSOLE | SHS CL A | 2.16M | SH | $1.46M 0.26% | 2.16M | 0.00 | 0.00 |