SHAH CAPITAL MANAGEMENT
CIK 1383838 · Holdings on Sep 30, 2025 · First reported Nov 12, 2025
Top ten holdings
Q3 2025- VEON46.98%
- NVAX18.32%
- CYD12.38%
- VQKA6.36%
- CSIQ3.93%
- VGSH3.75%
- EDU2.89%
- AM2.04%
- TDAY1.33%
- BIDU0.80%
Share classes counted separately98.78%
Portfolio value by quarter
What changed this quarter?
Within preview · weight change- NVAXWeight increased · +4.21 pp14.11% → 18.32%Shares +300.00K (+2.61%)
- VEONWeight increased · +2.89 pp44.09% → 46.98%Shares -94.34K (-1.92%)
- CYDWeight decreased · -2.76 pp15.14% → 12.38%Shares -1.58M (-48.61%)
Weight = security value ÷ total reported holdings value. Changes are in percentage points; price moves also affect weights, so they are not trade sizes.
Top 10 holdings 13
USD · B = billion · M = million; expand a row for exact values| # | Security | Value | Weight | Quantity | Weight / quantity change | Activity | |
|---|---|---|---|---|---|---|---|
| 01 | VEONVEON LTDSPONSORED ADS View history and evidence | $262.59M | 46.98% | 4.82M shares | 44.09% → 46.98%+2.89 pp -94.34K (-1.92%) | Reduced | ↗▾ |
| 02 | NVAXNOVAVAX INCCOM NEW View history and evidence | $102.41M | 18.32% | 11.81M shares | 14.11% → 18.32%+4.21 pp +300.00K (+2.61%) | Added | ↗▾ |
| 03 | CYDCHINA YUCHAI INTL LTD View history and evidence | $69.20M | 12.38% | 1.67M shares | 15.14% → 12.38%-2.76 pp -1.58M (-48.61%) | Reduced | ↗▾ |
| 04 | VQKAEMEREN GROUP LTDSPONSORED ADS View history and evidence | $35.57M | 6.36% | 18.82M shares | 6.85% → 6.36%-0.49 pp 0 (0.00%) | Unchanged | ↗▾ |
| 05 | CSIQCANADIAN SOLAR INC View history and evidence | $21.99M | 3.93% | 1.69M shares | 4.04% → 3.93%-0.11 pp -194.60K (-10.35%) | Reduced | ↗▾ |
| 06 | VGSHVANGUARD SHORT-TERM TREASURYSHORT TERM TREAS View history and evidence | $20.98M | 3.75% | 356.53K shares | 4.28% → 3.75%-0.53 pp -17.46K (-4.67%) | Reduced | ↗▾ |
| 07 | EDUNEW ORIENTAL EDUCATIO-SP ADRSPON ADR View history and evidence | $16.17M | 2.89% | 304.74K shares | 3.20% → 2.89%-0.31 pp -573 (-0.19%) | Reduced | ↗▾ |
| 08 | AMANTERO MIDSTREAM CORP View history and evidence | $11.39M | 2.04% | 586.00K shares | 2.16% → 2.04%-0.12 pp 0 (0.00%) | Unchanged | ↗▾ |
| 09 | TDAYUSA TODAY CO INC View history and evidence | $7.43M | 1.33% | 1.80M shares | 1.25% → 1.33%+0.08 pp 0 (0.00%) | Unchanged | ↗▾ |
| 10 | BIDUBAIDU INC - SPON ADRSPON ADR REP A View history and evidence | $4.47M | 0.80% | 33.94K shares | 0.57% → 0.80%+0.23 pp 0 (0.00%) | Unchanged | ↗▾ |
Options overlay 0
No options reported this quarter.
Exited positions 2
| Security | Type | Shares out | Value out | Previous filing | This filing |
|---|---|---|---|---|---|
| 92556H206 PARAMOUNT GLOBAL-CLASS B | Non-derivative | -790,173 | -$10.19M | SEC filing ↗ | SEC filing ↗ |
| VAL VALARIS LTD | Non-derivative | -120,506 | -$5.07M | SEC filing ↗ | SEC filing ↗ |
2 / 2 preview exits. Up to 30 exit records are previewed. Exit means absent from the current filing; execution date, price and proceeds are unknown.
Every number has a source.
CIK 1383838 · Period 2025-09-30
Data loaded 2026-09-23 · First reported 2025-11-12
Amendments and versions
{
"amendments_merged": null,
"prior_versions": null,
"cover_table_value": 558979399
}Take these holdings further.
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