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Shah Capital Management Portfolio holdings
AUM
$521M
1-Year Est. Return
46.95%
This Fund
S&P 500
This Quarter
Est. Return
+25.66%
1 Year Est. Return
+46.95%
3 Year Est. Return
+224.99%
5 Year Est. Return
+420.49%
10 Year Est. Return
+7,153.23%
AUM
$559M
AUM Growth
+$45M
(+8.8%)
Cap. Flow
-$67.2M
Cap. Flow
% of AUM
-12.03%
Top 10 Holdings %
Top 10 Hldgs %
98.79%
Holding
15
New
1
Increased
3
Reduced
5
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Novavax
NVAX
|
+$2.33M |
| 2 |
Tronox
TROX
|
+$1.83M |
| 3 |
Cheer Holding
CHR
|
+$59.3K |
| 4 |
Dole
DOLE
|
+$58.4K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
China Yuchai International
CYD
|
+$47.8M |
| 2 |
PARA
Paramount Global Class B
PARA
|
+$10.2M |
| 3 |
Valaris
VAL
|
+$5.07M |
| 4 |
VEON
VEON
|
+$5.06M |
| 5 |
Canadian Solar
CSIQ
|
+$2.33M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 49.37% |
| 2 | Healthcare | 18.32% |
| 3 | Consumer Discretionary | 12.38% |
| 4 | Technology | 10.3% |
| 5 | Consumer Staples | 3.56% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
VEON
VEON
$3.53B
| $263M | 46.98% |
4,824,421
-94,336
| -2% | -$5.06M |
|
|
2
Novavax
NVAX
$1.23B
| $102M | 18.32% |
11,811,780
+300,000
| +3% | +$2.33M |
|
|
3
China Yuchai International
CYD
$1.69B
| $69.2M | 12.38% |
1,672,697
-1,582,488
| -49% | -$47.8M |
|
|
SOL
4
DELISTED
Emeren Group
SOL
| $35.6M | 6.36% |
18,818,236
| – | – |
|
|
5
Canadian Solar
CSIQ
$906M
| $22M | 3.93% |
1,686,285
-194,600
| -10% | -$2.33M |
|
6
Vanguard Short-Term Treasury ETF
VGSH
$29.3B
| $21M | 3.75% |
356,528
-17,460
| -5% | -$1.02M |
|
7
New Oriental
EDU
$7.84B
| $16.2M | 2.89% |
304,744
-573
| -0.2% | -$28.3K |
|
8
Antero Midstream
AM
$10.8B
| $11.4M | 2.04% |
586,000
| – | – |
|
|
TDAY
9
USA Today Co
TDAY
$1.23B
| $7.43M | 1.33% |
1,800,000
| – | – |
|
10
Baidu
BIDU
$35.8B
| $4.47M | 0.8% |
33,935
| – | – |
|
|
11
Dole
DOLE
$1.35B
| $3.7M | 0.66% |
275,397
+4,165
| +2% | +$58.4K |
|
|
12
Tronox
TROX
$995M
| $1.61M | 0.29% |
+400,000
| New | +$1.83M |
|
|
13
Cheer Holding
CHR
$3.64M
| $1.46M | 0.26% |
14,383
+316
| +2% | +$59.3K |
|
|
PARA
14
DELISTED
Paramount Global Class B
PARA
| – | – |
-790,173
| Closed | -$10.2M |
|
|
15
Valaris
VAL
$5.51B
| – | – |
-120,506
| Closed | -$5.07M |
|
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SC
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CFM
FIC
GSAM
Shah Capital Management's Q3 2025 Portfolio in Review
As of Q3 2025, Shah Capital Management held 15 positions worth $559M, up 8.8% from $514M the previous quarter. Its ten largest holdings account for 99% of the portfolio.
Shah Capital Management withdrew a net $67.2M in Q3 2025, closing 2 positions and reducing 5 holdings. Its most notable exit was Paramount Global Class B, an estimated $10.2M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 49% of assets, up from 48% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Shah Capital Management opened a new position in Tronox worth $1.61M.
- Shah Capital Management's largest Q3 2025 buy was Tronox: 400,000 shares worth $1.61M.
- Shah Capital Management added most to Novavax in Q3 2025, an estimated $2.33M increase.
- Shah Capital Management's biggest Q3 2025 reduction was China Yuchai International, cutting an estimated $47.8M.
- Shah Capital Management fully exited Paramount Global Class B in Q3 2025, selling an estimated $10.2M.
- Shah Capital Management's ten largest holdings make up 99% of its $559M portfolio in Q3 2025.
- Shah Capital Management opened 1 new position and closed 2 in Q3 2025.
- Shah Capital Management's portfolio value rose 8.8% quarter-over-quarter to $559M.
Based on Shah Capital Management's 13F filing for Q3 2025, filed 12 Nov 2025.