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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
-3.31%
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
$519M
AUM Growth
-$40.5M
(-7.2%)
Cap. Flow
-$16.1M
Cap. Flow
% of AUM
-3.1%
Top 10 Holdings %
Top 10 Hldgs %
99.03%
Holding
14
New
1
Increased
4
Reduced
3
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Novavax
NVAX
|
+$20.7M |
| 2 |
Tronox
TROX
|
+$9.9M |
| 3 |
VEON
VEON
|
+$3.59M |
| 4 |
Dole
DOLE
|
+$2.59M |
| 5 |
Wolfspeed
WOLF
|
+$768K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SOL
Emeren Group
SOL
|
+$35.6M |
| 2 |
Canadian Solar
CSIQ
|
+$15.6M |
| 3 |
Cheer Holding
CHR
|
+$1.46M |
| 4 |
China Yuchai International
CYD
|
+$959K |
| 5 |
Vanguard Short-Term Treasury ETF
VGSH
|
+$20.6K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 52.27% |
| 2 | Healthcare | 18.87% |
| 3 | Consumer Discretionary | 11.27% |
| 4 | Consumer Staples | 4.57% |
| 5 | Technology | 4.56% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
VEON
VEON
$3.57B
| $257M | 49.63% |
4,895,252
+70,831
| +1% | +$3.59M |
|
|
2
Novavax
NVAX
$1.35B
| $97.8M | 18.87% |
14,558,780
+2,747,000
| +23% | +$20.7M |
|
|
3
China Yuchai International
CYD
$1.65B
| $58.4M | 11.27% |
1,646,397
-26,300
| -2% | -$959K |
|
|
4
Canadian Solar
CSIQ
$1.02B
| $23.1M | 4.45% |
970,000
-716,285
| -42% | -$15.6M |
|
|
5
Vanguard Short-Term Treasury ETF
VGSH
$29.3B
| $20.9M | 4.03% |
356,178
-350
| -0.1% | -$20.6K |
|
6
New Oriental
EDU
$7.82B
| $16.8M | 3.23% |
304,744
| – | – |
|
|
7
Tronox
TROX
$932M
| $12.5M | 2.41% |
3,000,000
+2,600,000
| +650% | +$9.9M |
|
8
Antero Midstream
AM
$10.7B
| $10.4M | 2.01% |
586,000
| – | – |
|
|
TDAY
9
USA Today Co
TDAY
$1.25B
| $9.27M | 1.79% |
1,800,000
| – | – |
|
|
10
Dole
DOLE
$1.37B
| $6.92M | 1.33% |
461,521
+186,124
| +68% | +$2.59M |
|
11
Baidu
BIDU
$36.5B
| $4.43M | 0.86% |
33,935
| – | – |
|
|
12
Wolfspeed
WOLF
$1.55B
| $583K | 0.11% |
+33,494
| New | +$768K |
|
|
13
Cheer Holding
CHR
$3.36M
| – | – |
-14,383
| Closed | -$1.46M |
|
|
SOL
14
DELISTED
Emeren Group
SOL
| – | – |
-18,818,236
| Closed | -$35.6M |
|
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Shah Capital Management's Q4 2025 Portfolio in Review
As of Q4 2025, Shah Capital Management held 14 positions worth $519M, down 7.2% from $559M the previous quarter. Its ten largest holdings account for 99% of the portfolio.
Shah Capital Management withdrew a net $16.1M in Q4 2025, closing 2 positions and reducing 3 holdings. Its most notable exit was Emeren Group, an estimated $35.6M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 52% of assets, up from 49% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Shah Capital Management opened a new position in Wolfspeed worth $583K.
- Shah Capital Management's largest Q4 2025 buy was Wolfspeed: 33,494 shares worth $583K.
- Shah Capital Management added most to Novavax in Q4 2025, an estimated $20.7M increase.
- Shah Capital Management's biggest Q4 2025 reduction was Canadian Solar, cutting an estimated $15.6M.
- Shah Capital Management fully exited Emeren Group in Q4 2025, selling an estimated $35.6M.
- Shah Capital Management's ten largest holdings make up 99% of its $519M portfolio in Q4 2025.
- Shah Capital Management opened 1 new position and closed 2 in Q4 2025.
- Shah Capital Management's portfolio value fell 7.2% quarter-over-quarter to $519M.
Based on Shah Capital Management's 13F filing for Q4 2025, filed 15 Jan 2026.