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SHAH CAPITAL MANAGEMENT

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13F filer, CIK 1383838, RALEIGH, NC

SHAH CAPITAL MANAGEMENT reported $489,563,618 across 17 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-14. Its ten largest share positions make up 94.69% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001398344-25-009346

Period
2025-03-31
Reported value
$490M
Holdings
17
Top 10 weight
94.69%
New
2
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
VGSHadded+136,236$8M
WOLFSPEED INCnew+2,152,225$6.59M
PARAMOUNT GLOBALadded+219,173$2.62M
XRXnew+418,794$2.02M
CSIQadded+160,739$1.39M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
CYDreduced-1,021,449-$17.4M
BIDUreduced-150,721-$13.9M
GNWreduced-796,427-$5.65M
BABAexited-28,279-$2.4M
AMreduced-23,832-$429K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001398344-25-009346, largest first. % of portfolio is the value over $489,563,618, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
VEONVEON LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 4,943,890 shares; 2025Q1: 4,942,790 shares 4,942,790$216M44.03%-1,100Timeline
NVAXNOVAVAX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 11,148,846 shares; 2025Q1: 11,131,846 shares 11,131,846$71.4M14.58%-17,000Timeline
CYDCHINA YUCHAI INTL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 4,345,471 shares; 2025Q1: 3,324,022 shares 3,324,022$56.5M11.54%-1,021,449Timeline
EMEREN GROUP LTDEMEREN GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 18,818,236 shares; 2025Q1: 18,818,236 shares 18,818,236$29.5M6.03%0
VGSHVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 237,752 shares; 2025Q1: 373,988 shares 373,988$21.9M4.48%+136,236Timeline
CSIQCANADIAN SOLAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,745,546 shares; 2025Q1: 1,906,285 shares 1,906,285$16.5M3.37%+160,739Timeline
PARAMOUNT GLOBALPARAMOUNT GLOBALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,121,000 shares; 2025Q1: 1,340,173 shares 1,340,173$16M3.27%+219,173
EDUNEW ORIENTAL ED & TECHNOLOGYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 308,558 shares; 2025Q1: 306,250 shares 306,250$14.6M2.99%-2,308Timeline
AMANTERO MIDSTREAM CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 789,397 shares; 2025Q1: 765,565 shares 765,565$13.8M2.81%-23,832Timeline
GNWGENWORTH FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,887,170 shares; 2025Q1: 1,090,743 shares 1,090,743$7.73M1.58%-796,427Timeline
WOLFSPEED INCWOLFSPEED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: 2,152,225 shares 2,152,225$6.59M1.35%new
TDAYUSA TODAY CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,800,000 shares; 2025Q1: 1,800,000 shares 1,800,000$5.2M1.06%0Timeline
VALVALARIS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 121,600 shares; 2025Q1: 120,506 shares 120,506$4.73M0.97%-1,094Timeline
DOLEDOLE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 275,890 shares; 2025Q1: 271,232 shares 271,232$3.92M0.8%-4,658Timeline
CHEER HLDG INCCHEER HLDG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,614,921 shares; 2025Q1: 1,705,050 shares 1,705,050$2.27M0.46%+90,129
XRXXEROX HOLDINGS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: 418,794 shares 418,794$2.02M0.41%newTimeline
BIDUBAIDU INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 164,656 shares; 2025Q1: 13,935 shares 13,935$1.28M0.26%-150,721Timeline

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
BABAALIBABA GROUP HLDG LTD28,279$2.4Mshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001398344-25-009346 base2025-05-14acceptance time not in the bulk data set