SHAH CAPITAL MANAGEMENT Long-Term Concentrated

CIK: 0001383838 · Show all filings

Period: Q3 2025 (← Previous) (Next →)

Filing Date: Nov 12, 2025

Total Value ($000): $558,979 (100.0% shares, 0.0% debt)

Holdings (13)

VEON VEON LTD 47.0%

Value ($000) $262,593 Shares 4,824,421 Est. Cost $19.70 Unrealized —

NVAX NOVAVAX INC 18.3%

Value ($000) $102,408 Shares 11,811,780 Est. Cost $9.07 Unrealized -14.2%

CYD CHINA YUCHAI INTL LTD 12.4%

Value ($000) $69,199 Shares 1,672,697 Est. Cost $8.25 Unrealized +266.3%

— EMEREN GROUP LTD 6.4%

Value ($000) $35,566 Shares 18,818,236 Est. Cost $2.73 Unrealized —

CSIQ CANADIAN SOLAR INC 3.9%

Value ($000) $21,989 Shares 1,686,285 Est. Cost $12.87 Unrealized -7.0%

VGSH VANGUARD SCOTTSDALE FDS 3.8%

Value ($000) $20,982 Shares 356,528 Est. Cost $52.01 Unrealized —

EDU NEW ORIENTAL ED & TECHNOLOGY 2.9%

Value ($000) $16,173 Shares 304,744 Est. Cost $73.28 Unrealized —

AM ANTERO MIDSTREAM CORP 2.0%

Value ($000) $11,392 Shares 586,000 Est. Cost $3.00 Unrealized +486.3%

TDAY GANNETT CO INC 1.3%

Value ($000) $7,434 Shares 1,800,000 Est. Cost $1.95 Unrealized +106.3%

BIDU BAIDU INC 0.8%

Value ($000) $4,472 Shares 33,935 Est. Cost $86.06 Unrealized —

DOLE DOLE PLC 0.7%

Value ($000) $3,701 Shares 275,397 Est. Cost $8.32 Unrealized +68.7%

TROX TRONOX HOLDINGS PLC 0.3%

Value ($000) $1,608 Shares 400,000 Est. Cost $4.58 Unrealized 0.0%

— CHEER HLDG INC 0.3%

Value ($000) $1,462 Shares 2,157,500 Est. Cost $2.59 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VEON	VEON LTD	4,824,421	$262,593	47.0%	$19.70	—	SPONSORED ADS	91822M502
NVAX	NOVAVAX INC	11,811,780	$102,408	18.3%	$9.07	-14.2%	COM NEW	670002401
CYD	CHINA YUCHAI INTL LTD	1,672,697	$69,199	12.4%	$8.25	+266.3%	COM	G21082105
—	EMEREN GROUP LTD	18,818,236	$35,566	6.4%	$2.73	—	SPONSORED ADS	75971T301
CSIQ	CANADIAN SOLAR INC	1,686,285	$21,989	3.9%	$12.87	-7.0%	COM	136635109
VGSH	VANGUARD SCOTTSDALE FDS	356,528	$20,982	3.8%	$52.01	—	SHORT TERM TREAS	92206C102
EDU	NEW ORIENTAL ED & TECHNOLOGY	304,744	$16,173	2.9%	$73.28	—	SPON ADR	647581206
AM	ANTERO MIDSTREAM CORP	586,000	$11,392	2.0%	$3.00	+486.3%	COM	03676B102
TDAY	GANNETT CO INC	1,800,000	$7,434	1.3%	$1.95	+106.3%	COM	36472T109
BIDU	BAIDU INC	33,935	$4,472	0.8%	$86.06	—	SPON ADR REP A	056752108
DOLE	DOLE PLC	275,397	$3,701	0.7%	$8.32	+68.7%	ORD SHS	G27907107
TROX	TRONOX HOLDINGS PLC	400,000	$1,608	0.3%	$4.58	0.0%	SHS	G9087Q102
—	CHEER HLDG INC	2,157,500	$1,462	0.3%	$2.59	—	SHS CL A	G39973204