13F HOLDINGS REPORT
SHAH CAPITAL MANAGEMENT
Quarter ended Q3 2025 · Filed November 12, 2025 · Accession 0001398344-25-020706
Total Value
$559.0M
Positions
13
Other Managers
0
Confidential Omitted
No
Holdings (13)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | VEON LTD | VEON | 4,824,421 | $262.6M | 46.98% |
| 2 | NOVAVAX INC | NVAX | 11,811,780 | $102.4M | 18.32% |
| 3 | CHINA YUCHAI INTL LTD | G21082105 | 1,672,697 | $69.2M | 12.38% |
| 4 | EMEREN GROUP LTD | 75971T301 | 18,818,236 | $35.6M | 6.36% |
| 5 | CANADIAN SOLAR INC | CSIQ | 1,686,285 | $22.0M | 3.93% |
| 6 | VANGUARD SCOTTSDALE FDS | 92206C102 | 356,528 | $21.0M | 3.75% |
| 7 | NEW ORIENTAL ED & TECHNOLOGY | 647581206 | 304,744 | $16.2M | 2.89% |
| 8 | ANTERO MIDSTREAM CORP | AM | 586,000 | $11.4M | 2.04% |
| 9 | GANNETT CO INC | TDAY | 1,800,000 | $7.4M | 1.33% |
| 10 | BAIDU INC | BAIDF | 33,935 | $4.5M | 0.80% |
| 11 | DOLE PLC | DOLE | 275,397 | $3.7M | 0.66% |
| 12 | TRONOX HOLDINGS PLC | TROX | 400,000 | $1.6M | 0.29% |
| 13 | CHEER HLDG INC | CHR | 2,157,500 | $1.5M | 0.26% |