Shah Capital Management portfolio
Concentrated managerInvestment firmPortfolio as of Sep 30, 2026 (Q3 2026) · filed with the SEC on Oct 9, 2026 · data updated on Nov 5, 2026 · Q3 2026 13F (filing) ↗ · all its 13F filings ↗
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Shah Capital Management reported a $605M portfolio of 11 positions to the SEC as of the end of Q3 2026. Its largest positions are VEON, NVAX, CYD.
Sections with a free account
What it reported after the quarter end (Q3 2026)
The 13F shows the portfolio as of Sep 30, 2026. Since then Shah Capital Management has filed these own trades with the SEC (Form 4, when it owns more than 10% of a company or holds a role in it) and stakes above 5% (13D and 13G). It is not everything it did: only what it must report before the next 13F.
What changed this quarter
9 positions with a change (1 new, 2 added to, 6 trimmed); also, 1 entered through an IPO. 2 are listed here: those of 0.5 points of the portfolio or more (up to 12).
- Novavax−14%fewer sharesReduced25.4% → 21.7%
- Vanguard Short-term Treasury ETF+47%more sharesIncreased4.2% → 5.3%
The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight: what it bought or sold, excluding price effects.
Top holdings
- VEONVEON56.8%
- NovavaxNVAX21.7%
- China Yuchai InternationalCYD6.8%
- Vanguard Short-term Treasury ETFVGSH5.3%
- New Oriental Education & Technology GroupEDU2.7%
- Tronox HoldingsTROX1.9%
- Antero MidstreamAM1.7%
- Canadian SolarCSIQ1.7%
- DoleDOLE0.9%
- Elicio TherapeuticsELTX0.4%
- Real Remax Group0.1%
“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
Portfolio by sector
- ● Communication Services 57%
- ● Health Care 22%
- ● Industrials 7%
- ● No sector 5%
- ● Consumer Discretionary 3%
- ● Materials 2%
- ● Energy 2%
- ● Information Technology 2%
- ● Consumer Staples 1%
How its portfolio changed (8 quarters)
Q3 2026: 11
Q3 2026: 100%
Q3 2026: 3.1%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
Stakes above 5% (13D/13G)
Companies where this filer reported holding 5% or more of the shares. It is the figure from its latest filing on each one; history since December 2024.
How we classify it
Investment firm, per its Form ADV of Feb 23, 2026 (high confidence).
The data, as reported: SHAH CAPITAL MANAGEMENT (CRD 133941): 7.B private funds: 1 hedge (gross assets $674M); 5.D assets by client type: pooled vehicles 88%, high net worth 8% (of $768M)
The type comes from a rule applied to that data. If it looks wrong, tell us.
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