Shah Capital Management
Himanshu Shah Raleigh, NC 21 13Fs · since 2021 Q3
- AUM $521M
- positions 11
- period 2026 Q1
- QoQ +0.4%
- top 5 87.9%
- qoq E 1 A 2 R 5
- VEON LTD 43.4%
- NOVAVAX INC 23.2%
- CHINA YUCHAI INTL LTD 11.9%
- TRONOX HOLDINGS PLC 5.6%
- VANGUARD SCOTTSDALE FDS 3.8%
- NEW ORIENTAL ED & TECHNOLOGY 3.3%
- ANTERO MIDSTREAM CORP - AM 2.6%
- CANADIAN SOLAR INC - CSIQ 2.6%
- WOLFSPEED INC 1.6%
- DOLE PLC - DOLE 1.3%
- USA TODAY CO INC - GCI 0.7%
AUM over time
Holdings value
Latest book
| VEON LTD | 43.44% | Reduce −0.1% | 4,890,497 | $46.30 | $226M | −4,755 | −$31M |
| NOVAVAX INC | 23.18% | Add +2.0% | 14,845,097 | $8.14 | $121M | +286,317 | +$23M |
| CHINA YUCHAI INTL LTD | 11.95% | Reduce −1.7% | 1,618,441 | $38.50 | $62M | −27,956 | +$4M |
| TRONOX HOLDINGS PLC | 5.61% | Reduce −0.2% | 2,994,154 | $9.77 | $29M | −5,846 | +$17M |
| VANGUARD SCOTTSDALE FDS | 3.85% | Reduce −3.7% | 342,990 | $58.54 | $20M | −13,188 | −$840 |
| NEW ORIENTAL ED & TECHNOLOGY | 3.30% | Reduce −0.3% | 303,953 | $56.63 | $17M | −791 | +$443 |
| ANTERO MIDSTREAM CORP - AM | 2.56% | 586,000 | $22.80 | $13M | — | — | |
| CANADIAN SOLAR INC - CSIQ | 2.56% | Reduce −0.6% | 964,557 | $13.85 | $13M | −5,443 | −$10M |
| WOLFSPEED INC | 1.59% | Add +1419.5% | 508,948 | $16.32 | $8M | +475,454 | +$8M |
| DOLE PLC - DOLE | 1.26% | Reduce −0.6% | 458,522 | $14.29 | $7M | −2,999 | −$366 |
| USA TODAY CO INC - GCI | 0.68% | Reduce −72.2% | 500,000 | $7.05 | $4M | −1,300,000 | −$6M |
| BAIDU INC - BIDU | — | Exit | 0 | $130.66 | — | −33,935 | −$4M |
* Reported price is value ÷ shares from the 13F as of period end — not a live market quote. Weight % is each long-equity position ÷ full 13F AUM, so rows may not sum to 100% when the filing includes options or other non-equity (excluded from this table). Share change and $ change are vs 2025 Q4. Click column headers to sort · click New / Exit / Add / Reduce to promote that move type to the top. Among managers we track.
filings history
21 periods · normalized AUM · click period for holdings
| Period | Holdings | AUM | QoQ | Form | Filed | Filing ID |
|---|---|---|---|---|---|---|
| 2026 Q1 | 11 | $521M | +0.4% | 13F-HR | 4/24/2026 | 000139834426007059 |
| 2025 Q4 | 12 | $519M | −7.2% | 13F-HR | 1/15/2026 | 000139834426000720 |
| 2025 Q3 | 13 | $559M | +8.8% | 13F-HR | 11/12/2025 | 000139834425020706 |
| 2025 Q2 | 14 | $514M | +4.9% | 13F-HR | 7/23/2025 | 000139834425013573 |
| 2025 Q1 | 17 | $490M | −1.2% | 13F-HR | 5/14/2025 | 000139834425009346 |
| 2024 Q4 | 16 | $496M | −3.3% | 13F-HR | 1/22/2025 | 000139834425000895 |
| 2024 Q3 | 19 | $513M | +11.0% | 13F-HR | 10/15/2024 | 000139834424018895 |
| 2024 Q2 | 17 | $462M | +29.4% | 13F-HR | 8/12/2024 | 000139834424014293 |
| 2024 Q1 | 17 | $357M | −8.5% | 13F-HR | 5/15/2024 | 000139834424009614 |
| 2023 Q4 | 15 | $390M | −7.8% | 13F-HR | 2/5/2024 | 000139834424002083 |
| 2023 Q3 | 14 | $423M | +8.7% | 13F-HR | 10/11/2023 | 000138383823000016 |
| 2023 Q2 | 15 | $394M | — | NEW HOLDINGS | 7/13/2023 | 000138383823000009 |
| 2023 Q2 | 14 | $389M | +13.1% | 13F-HR | 7/12/2023 | 000138383823000007 |
| 2023 Q2 | 16 | $344M | — | NEW HOLDINGS | 7/12/2023 | 000138383823000008 |
| 2023 Q1 | 16 | $344M | −18.3% | 13F-HR | 5/8/2023 | 000138383823000003 |
| 2022 Q4 | 15 | $421M | +20.3% | 13F-HR | 1/13/2023 | 000138383823000002 |
| 2022 Q3 | 12 | $350M | −9.3% | 13F-HR | 10/27/2022 | 000138383822000010 |
| 2022 Q2 | 13 | $386M | −0.3% | 13F-HR | 7/25/2022 | 000138383822000009 |
| 2022 Q1 | 12 | $387M | +3.2% | 13F-HR | 4/19/2022 | 000138383822000004 |
| 2021 Q4 | 10 | $375M | +1.4% | 13F-HR | 1/19/2022 | 000138383822000002 |
| 2021 Q3 | 9 | $370M | — | 13F-HR | 10/8/2021 | 000138383821000010 |
About
Shah Capital Management
21 processed 13Fs · since 2021 Q3