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SHAH CAPITAL MANAGEMENT

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13F filer, CIK 1383838, RALEIGH, NC

SHAH CAPITAL MANAGEMENT reported $513,974,602 across 14 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-07-23. Its ten largest share positions make up 97.11% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001398344-25-013573

Period
2025-06-30
Reported value
$514M
Holdings
14
Top 10 weight
97.11%
New
0
Sold out
3

Largest buys vs the previous quarter

SecurityShares changeApprox. value
NVAXadded+379,934$2.39M
BIDUadded+20,000$1.72M
CHEER HLDG INCadded+404,950$591K

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
GNWexited-1,090,743-$7.73M
PARAMOUNT GLOBALreduced-550,000-$7.09M
WOLFSPEED INCexited-2,152,225-$6.59M
AMreduced-179,565-$3.4M
XRXexited-418,794-$2.02M

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, Q2 2025

Share positions as resolved from 13F-HR 0001398344-25-013573, largest first. % of portfolio is the value over $513,974,602, 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; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 4,943,890 shares; 2025Q1: 4,942,790 shares; 2025Q2: 4,918,757 shares 4,918,757$227M44.09%-24,033Timeline
CYDCHINA YUCHAI INTL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 4,345,471 shares; 2025Q1: 3,324,022 shares; 2025Q2: 3,255,185 shares 3,255,185$77.8M15.14%-68,837Timeline
NVAXNOVAVAX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 11,148,846 shares; 2025Q1: 11,131,846 shares; 2025Q2: 11,511,780 shares 11,511,780$72.5M14.11%+379,934Timeline
EMEREN GROUP LTDEMEREN GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 18,818,236 shares; 2025Q1: 18,818,236 shares; 2025Q2: 18,818,236 shares 18,818,236$35.2M6.85%0
VGSHVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 237,752 shares; 2025Q1: 373,988 shares; 2025Q2: 373,988 shares 373,988$22M4.28%0Timeline
CSIQCANADIAN SOLAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,745,546 shares; 2025Q1: 1,906,285 shares; 2025Q2: 1,880,885 shares 1,880,885$20.8M4.04%-25,400Timeline
EDUNEW ORIENTAL ED & TECHNOLOGYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 308,558 shares; 2025Q1: 306,250 shares; 2025Q2: 305,317 shares 305,317$16.5M3.2%-933Timeline
AMANTERO MIDSTREAM CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 789,397 shares; 2025Q1: 765,565 shares; 2025Q2: 586,000 shares 586,000$11.1M2.16%-179,565Timeline
PARAMOUNT GLOBALPARAMOUNT GLOBALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,121,000 shares; 2025Q1: 1,340,173 shares; 2025Q2: 790,173 shares 790,173$10.2M1.98%-550,000
TDAYUSA TODAY CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,800,000 shares; 2025Q1: 1,800,000 shares; 2025Q2: 1,800,000 shares 1,800,000$6.44M1.25%0Timeline
VALVALARIS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 121,600 shares; 2025Q1: 120,506 shares; 2025Q2: 120,506 shares 120,506$5.07M0.99%0Timeline
DOLEDOLE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 275,890 shares; 2025Q1: 271,232 shares; 2025Q2: 271,232 shares 271,232$3.79M0.74%0Timeline
CHEER HLDG INCCHEER HLDG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,614,921 shares; 2025Q1: 1,705,050 shares; 2025Q2: 2,110,000 shares 2,110,000$3.08M0.6%+404,950
BIDUBAIDU INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 164,656 shares; 2025Q1: 13,935 shares; 2025Q2: 33,935 shares 33,935$2.91M0.57%+20,000Timeline

Sold out in Q2 2025

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

SecurityShares beforeValue beforeType
GNWGENWORTH FINL INC1,090,743$7.73Mshares
WOLFSPEED INCWOLFSPEED INC2,152,225$6.59Mshares
XRXXEROX HOLDINGS CORP418,794$2.02Mshares

How Q2 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 0001398344-25-013573 base2025-07-23acceptance time not in the bulk data set