Shah Capital Management reported 9 positions worth $572.66M for the quarter ended Sep 30, 2026, up 13.6% on the prior quarter. It opened 1 new position, added to 1, trimmed 7 and exited 0. Its largest holding is VEON Ltd. at 60% of the portfolio.
Reported 13F market value at each quarter end. A change mixes trading with price moves in the positions held.
Dollar value of shares bought and sold each quarter, at that quarter’s price. It counts trading only, not price changes.
How many positions were opened, added to, trimmed or closed each quarter.
Share of reported value in each sector at every quarter end.
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| NVAX Novavax Inc | -1.99M | -14.1% | $21.53M | 22.98% |
| VEON VEON Ltd. | -18.4K | -0.4% | $1.36M | 60.02% |
| AM Antero Midstream Corp | -35.1K | -6.3% | $707.96K | 1.84% |
| CYD China Yuchai International Ltd | -21.0K | -1.6% | $651.60K | 7.15% |
| EDU New Oriental Education & Technology Group Inc. | -3,362 | -1.1% | $186.56K | 2.82% |
| DOLE Dole plc | -13.5K | -3.1% | $172.12K | 0.948% |
| CSIQ Canadian Solar Inc. | -14.1K | -1.5% | $162.95K | 1.83% |
| Holding | Shares | Trade Value | Weight |
|---|---|---|---|
| ELTX Elicio Therapeutics, Inc. | +1.25M | $2.28M | 0.397% |
No positions were closed this quarter.
| # | Activity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | VEON VEON Ltd. | Communication Services | 4.65M | $343.71M | 60.02% | -18.4K | -0.4% | Reduced | 6.29% |
| 2 | NVAX Novavax Inc | Healthcare | 12.17M | $131.60M | 22.98% | -1.99M | -14.1% | Reduced | 7.39% |
| 3 | CYD China Yuchai International Ltd | Industrials | 1.32M | $40.96M | 7.15% | -21.0K | -1.6% | Reduced | 3.52% |
| 4 | EDU New Oriental Education & Technology Group Inc. | Consumer Discretionary | 291.5K | $16.18M | 2.82% | -3,362 | -1.1% | Reduced | 0.19% |
| 5 | TROX Tronox Holdings plc | Basic Materials | 2.92M | $11.52M | 2.01% | +345.0K | +13.4% | Added | 1.82% |
| 6 | AM Antero Midstream Corp | Energy | 521.7K | $10.52M | 1.84% | -35.1K | -6.3% | Reduced | 0.11% |
| 7 | CSIQ Canadian Solar Inc. | Industrials | 909.6K | $10.48M | 1.83% | -14.1K | -1.5% | Reduced | 1.35% |
| 8 | DOLE Dole plc | Consumer Staples | 427.3K | $5.43M | 0.948% | -13.5K | -3.1% | Reduced | 0.45% |
| 9 | ELTX Elicio Therapeutics, Inc. | Healthcare | 1.25M | $2.28M | 0.397% | +1.25M | – | New | 5.71% |
Tip. Select a row to see that position’s full history at Shah Capital Management.
As of its Q3 2026 13F filing, Shah Capital Management’s five largest positions were VEON Ltd. (VEON) at 60.0%, Novavax Inc (NVAX) at 23.0%, China Yuchai International Ltd (CYD) at 7.2%, New Oriental Education & Technology Group Inc. (EDU) at 2.8%, Tronox Holdings plc (TROX) at 2.0% of the reported portfolio.
Shah Capital Management reported a 13F portfolio worth $572.66M across 9 positions for Q3 2026. That is up 13.6% from the previous quarter.
Its largest purchases by value were Elicio Therapeutics, Inc. ($2.28M), Tronox Holdings plc ($1.36M). It opened 1 new positions.
Its largest sales by value were Novavax Inc ($21.53M), VEON Ltd. ($1.36M), Antero Midstream Corp ($707.96K). It exited 0 positions entirely.
From the Form 13F-HR reports Shah Capital Management files with the SEC each quarter, within 45 days of quarter end. A 13F lists long positions in US-listed equities and options; it excludes short positions, cash, bonds and most non-US holdings.
13F data reflects long positions in US-listed equities and options as reported to the SEC up to 45 days after quarter end. It excludes short positions, cash, bonds and most non-US securities, so it is not a complete picture of a manager’s assets.