Filed: 1/15/2026ACC: 0001398344-26-000720
📋 What this filing means
SHAH CAPITAL MANAGEMENT filed this quarterly 13F‑HR report disclosing 12 equity positions with a total reported market value of $518.51M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
12
Positions
$518.51M
Total AUM (reported)
28.65M
Total Shares
Allocation by class
SPONSORED ADS$257.34M49.6%
COM$101.20M19.5%
COM NEW$97.84M18.9%
SHORT TERM TREAS$20.92M4.0%
SPON ADR$16.77M3.2%
SHS$12.51M2.4%
ORD SHS$6.92M1.3%
Portfolio Concentration
Top 3$413.63M79.8%
4–10$99.87M19.3%
11–25$5.02M1.0%
Top 3 weight
79.8%
Top 10 weight
99.0%
Voting Authority Distribution
Total shares with voting rights: 28.65M
Sole
Full voting authority
28.65M
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)
Sole12
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings12
Rows:
VEON LTD
SOLEShares4.90M
TypeSH
Market value$257.34M
49.63%
Sole
4.90M
Shared
0.00
None
0.00
NOVAVAX INC
SOLEShares14.56M
TypeSH
Market value$97.84M
18.87%
Sole
14.56M
Shared
0.00
None
0.00
CHINA YUCHAI INTL LTD
SOLEShares1.65M
TypeSH
Market value$58.45M
11.27%
Sole
1.65M
Shared
0.00
None
0.00
CANADIAN SOLAR INC
SOLEShares970K
TypeSH
Market value$23.06M
4.45%
Sole
970K
Shared
0.00
None
0.00
VANGUARD SCOTTSDALE FDS
SOLEShares356.18K
TypeSH
Market value$20.92M
4.03%
Sole
356.18K
Shared
0.00
None
0.00
NEW ORIENTAL ED & TECHNOLOGY
SOLEShares304.74K
TypeSH
Market value$16.77M
3.23%
Sole
304.74K
Shared
0.00
None
0.00
TRONOX HOLDINGS PLC
SOLEShares3M
TypeSH
Market value$12.51M
2.41%
Sole
3M
Shared
0.00
None
0.00
ANTERO MIDSTREAM CORP
SOLEShares586K
TypeSH
Market value$10.42M
2.01%
Sole
586K
Shared
0.00
None
0.00
USA TODAY CO INC
SOLEShares1.80M
TypeSH
Market value$9.27M
1.79%
Sole
1.80M
Shared
0.00
None
0.00
DOLE PLC
SOLEShares461.52K
TypeSH
Market value$6.92M
1.33%
Sole
461.52K
Shared
0.00
None
0.00
BAIDU INC
SOLEShares33.94K
TypeSH
Market value$4.43M
0.86%
Sole
33.94K
Shared
0.00
None
0.00
WOLFSPEED INC
SOLEShares33.49K
TypeSH
Market value$583.1K
0.11%
Sole
33.49K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
VEON LTDSOLE | SPONSORED ADS | 4.90M | SH | $257.34M 49.63% | 4.90M | 0.00 | 0.00 |
NOVAVAX INCSOLE | COM NEW | 14.56M | SH | $97.84M 18.87% | 14.56M | 0.00 | 0.00 |
CHINA YUCHAI INTL LTDSOLE | COM | 1.65M | SH | $58.45M 11.27% | 1.65M | 0.00 | 0.00 |
CANADIAN SOLAR INCSOLE | COM | 970K | SH | $23.06M 4.45% | 970K | 0.00 | 0.00 |
VANGUARD SCOTTSDALE FDSSOLE | SHORT TERM TREAS | 356.18K | SH | $20.92M 4.03% | 356.18K | 0.00 | 0.00 |
NEW ORIENTAL ED & TECHNOLOGYSOLE | SPON ADR | 304.74K | SH | $16.77M 3.23% | 304.74K | 0.00 | 0.00 |
TRONOX HOLDINGS PLCSOLE | SHS | 3M | SH | $12.51M 2.41% | 3M | 0.00 | 0.00 |
ANTERO MIDSTREAM CORPSOLE | COM | 586K | SH | $10.42M 2.01% | 586K | 0.00 | 0.00 |
USA TODAY CO INCSOLE | COM | 1.80M | SH | $9.27M 1.79% | 1.80M | 0.00 | 0.00 |
DOLE PLCSOLE | ORD SHS | 461.52K | SH | $6.92M 1.33% | 461.52K | 0.00 | 0.00 |
BAIDU INCSOLE | SPON ADR REP A | 33.94K | SH | $4.43M 0.86% | 33.94K | 0.00 | 0.00 |
WOLFSPEED INCSOLE | COMMON STOCK | 33.49K | SH | $583.1K 0.11% | 33.49K | 0.00 | 0.00 |