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Shah Capital Management Himanshu Shah

Raleigh, NC 23 processed 13Fs on this site, 2021 Q3 to 2026 Q3

  • $605M
  • 11 holdings
  • 2026 Q3
  • +15.0% QoQ
  • Top 5 93.3%

Portfolio

2026 Q3, filed 10/9/2026, 11 holdings

Top 5 93.3%, top 10 99.9%

  1. VEON, Vimpelcom 56.8%
  2. NVAX, Novavax 21.7%
  3. CYD, China Yuchai International 6.8%
  4. VGSH, Vanguard Scottsdale Funds 5.3%
  5. EDU 2.7%
  6. TROX, Tronox 1.9%
  7. AM, Antero Midstream 1.7%
  8. CSIQ, Canadian Solar 1.7%
  9. DOLE, DOLE PLC 0.9%
  10. ELTX, Elicio Therapeutics 0.4%
  11. REAX, Real Remax Group 0.1%

AUM over time

2026 Q3 $605M +15.0% QoQ
2021 Q3: $370M 2021 Q3: $370M
Q3 2021
2021 Q4: $375M, +1.4% QoQ 2021 Q4: $375M, +1.4% QoQ
Q4
2022 Q1: $387M, +3.2% QoQ 2022 Q1: $387M, +3.2% QoQ
Q1 2022
2022 Q2: $386M, −0.3% QoQ 2022 Q2: $386M, −0.3% QoQ
Q2
2022 Q3: $350M, −9.3% QoQ 2022 Q3: $350M, −9.3% QoQ
Q3
2022 Q4: $421M, +20.3% QoQ 2022 Q4: $421M, +20.3% QoQ
Q4
2023 Q1: $344M, −18.3% QoQ 2023 Q1: $344M, −18.3% QoQ
Q1 2023
2023 Q2: $389M, +13.1% QoQ 2023 Q2: $389M, +13.1% QoQ
Q2
2023 Q3: $423M, +8.7% QoQ 2023 Q3: $423M, +8.7% QoQ
Q3
2023 Q4: $390M, −7.8% QoQ 2023 Q4: $390M, −7.8% QoQ
Q4
2024 Q1: $357M, −8.5% QoQ 2024 Q1: $357M, −8.5% QoQ
Q1 2024
2024 Q2: $462M, +29.4% QoQ 2024 Q2: $462M, +29.4% QoQ
Q2
2024 Q3: $513M, +11.0% QoQ 2024 Q3: $513M, +11.0% QoQ
Q3
2024 Q4: $496M, −3.3% QoQ 2024 Q4: $496M, −3.3% QoQ
Q4
2025 Q1: $490M, −1.2% QoQ 2025 Q1: $490M, −1.2% QoQ
Q1 2025
2025 Q2: $514M, +4.9% QoQ 2025 Q2: $514M, +4.9% QoQ
Q2
2025 Q3: $559M, +8.8% QoQ 2025 Q3: $559M, +8.8% QoQ
Q3
2025 Q4: $519M, −7.2% QoQ 2025 Q4: $519M, −7.2% QoQ
Q4
2026 Q1: $521M, +0.4% QoQ 2026 Q1: $521M, +0.4% QoQ
Q1 2026
2026 Q2: $526M, +1.0% QoQ 2026 Q2: $526M, +1.0% QoQ
Q2
2026 Q3: $605M, +15.0% QoQ 2026 Q3: $605M, +15.0% QoQ
Q3

Book

2026 Q1 2025 Q4, filed 24 Apr, long equity only

Download CSV Download Excel All activity
VEON, Vimpelcom 43.44%, was 49.63% Reduce −0.1% 4,890,497 $46.30 $226M −4,755 −$31M
NVAX, Novavax 23.18%, was 18.87% Add +2.0% 14,845,097 $8.14 $121M +286,317 +$23M
CYD, China Yuchai International 11.95% Reduce −1.7% 1,618,441 $38.50 $62M −27,956 +$3.9M
TROX, Tronox 5.61% Reduce −0.2% 2,994,154 $9.77 $29M −5,846 +$17M
VGSH, Vanguard Scottsdale Funds 3.85%, was 4.03% Reduce −3.7% 342,990 $58.54 $20M −13,188 −$840K
EDU 3.30% Reduce −0.3% 303,953 $56.63 $17M −791 +$443K
AM, Antero Midstream 2.56% Hold 586,000 $22.80 $13M — —
CSIQ, Canadian Solar 2.56%, was 4.45% Reduce −0.6% 964,557 $13.85 $13M −5,443 −$9.7M
WOLF, Wolfspeed 1.59%, was 0.11% Add +1419.5% 508,948 $16.32 $8.3M +475,454 +$7.7M
DOLE, DOLE PLC 1.26%, was 1.33% Reduce −0.6% 458,522 $14.29 $6.6M −2,999 −$366K
GCI, USA Today 0.68%, was 1.79% Reduce −72.2% 500,000 $7.05 $3.5M −1,300,000 −$5.7M

Exits / last held

Gone since 2025 Q4, shown at their last reported size.

Stock % of portfolio Recent activity Shares Reported price* Value Share change $ change
BIDU, Baidu 0.86% Exit 0 $130.66 $4.4M −33,935 −$4.4M

Weight bar: held both quarters added sold at this quarter’s reported price

* 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 a column header to sort, or New, Hold, Add or Reduce to bring those moves to the top. Exit opens the last-held block below.

Filings history

21 periods, with AUM normalized

Newest 13Fs
Period Holds AUM QoQ Form Filed Filing ID
2026 Q3 11 $605M +15.0% 13F-HR 10/9/2026 000139834426018061
2026 Q2 9 $526M +1.0% 13F-HR 8/14/2026 000139834426014600
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 holds 7/13/2023 000138383823000009
2023 Q2 14 $389M +13.1% 13F-HR 7/12/2023 000138383823000007
2023 Q2 16 $344M — new holds 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

23 processed 13Fs on this site, 2021 Q3 to 2026 Q3

Entity
Shah Capital Management
Notable person
Himanshu Shah
Location
Raleigh, NC
All SEC filings
View on sec.gov

Further reading

As an Amazon Associate, FollowTheFilings earns from qualifying purchases.

  • The Essays of Warren Buffett, 8th Ed., Warren Buffett, Lawrence A. Cunningham View on Amazon
  • One Up On Wall Street (Lynch), Peter Lynch View on Amazon

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