SHAH CAPITAL MANAGEMENT Long-Term Concentrated

CIK: 0001383838 · Show all filings

Period: Q2 2025 (← Previous) (Next →)

Filing Date: Jul 23, 2025

Total Value ($000): $513,975 (100.0% shares, 0.0% debt)

Holdings (14)

VEON VEON LTD 44.1%

Value ($000) $226,607 Shares 4,918,757 Est. Cost $19.70 Unrealized —

CYD CHINA YUCHAI INTL LTD 15.1%

Value ($000) $77,831 Shares 3,255,185 Est. Cost $8.25 Unrealized +108.3%

NVAX NOVAVAX INC 14.1%

Value ($000) $72,524 Shares 11,511,780 Est. Cost $9.10 Unrealized -27.3%

— EMEREN GROUP LTD 6.8%

Value ($000) $35,190 Shares 18,818,236 Est. Cost $2.73 Unrealized —

VGSH VANGUARD SCOTTSDALE FDS 4.3%

Value ($000) $21,983 Shares 373,988 Est. Cost $52.01 Unrealized —

CSIQ CANADIAN SOLAR INC 4.0%

Value ($000) $20,765 Shares 1,880,885 Est. Cost $12.87 Unrealized -24.8%

EDU NEW ORIENTAL ED & TECHNOLOGY 3.2%

Value ($000) $16,472 Shares 305,317 Est. Cost $73.28 Unrealized —

AM ANTERO MIDSTREAM CORP 2.2%

Value ($000) $11,105 Shares 586,000 Est. Cost $3.00 Unrealized +472.1%

— PARAMOUNT GLOBAL 2.0%

Value ($000) $10,193 Shares 790,173 Est. Cost $10.75 Unrealized —

TDAY GANNETT CO INC 1.3%

Value ($000) $6,444 Shares 1,800,000 Est. Cost $1.95 Unrealized +72.0%

VAL VALARIS LTD 1.0%

Value ($000) $5,075 Shares 120,506 Est. Cost $25.06 Unrealized +50.1%

DOLE DOLE PLC 0.7%

Value ($000) $3,795 Shares 271,232 Est. Cost $8.23 Unrealized +71.3%

— CHEER HLDG INC 0.6%

Value ($000) $3,081 Shares 2,110,000 Est. Cost $2.63 Unrealized —

BIDU BAIDU INC 0.6%

Value ($000) $2,910 Shares 33,935 Est. Cost $86.06 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VEON	VEON LTD	4,918,757	$226,607	44.1%	$19.70	—	SPONSORED ADS	91822M502
CYD	CHINA YUCHAI INTL LTD	3,255,185	$77,831	15.1%	$8.25	+108.3%	COM	G21082105
NVAX	NOVAVAX INC	11,511,780	$72,524	14.1%	$9.10	-27.3%	COM NEW	670002401
—	EMEREN GROUP LTD	18,818,236	$35,190	6.8%	$2.73	—	SPONSORED ADS	75971T301
VGSH	VANGUARD SCOTTSDALE FDS	373,988	$21,983	4.3%	$52.01	—	SHORT TERM TREAS	92206C102
CSIQ	CANADIAN SOLAR INC	1,880,885	$20,765	4.0%	$12.87	-24.8%	COM	136635109
EDU	NEW ORIENTAL ED & TECHNOLOGY	305,317	$16,472	3.2%	$73.28	—	SPON ADR	647581206
AM	ANTERO MIDSTREAM CORP	586,000	$11,105	2.2%	$3.00	+472.1%	COM	03676B102
—	PARAMOUNT GLOBAL	790,173	$10,193	2.0%	$10.75	—	CLASS B COM	92556H206
TDAY	GANNETT CO INC	1,800,000	$6,444	1.3%	$1.95	+72.0%	COM	36472T109
VAL	VALARIS LTD	120,506	$5,075	1.0%	$25.06	+50.1%	CL A	G9460G101
DOLE	DOLE PLC	271,232	$3,795	0.7%	$8.23	+71.3%	ORD SHS	G27907107
—	CHEER HLDG INC	2,110,000	$3,081	0.6%	$2.63	—	SHS CL A	G39973204
BIDU	BAIDU INC	33,935	$2,910	0.6%	$86.06	—	SPON ADR REP A	056752108