Shah Capital Management 13F holdings, Q1 2025
Holdings as of March 31, 2025 · filings on SEC EDGAR · latest filing →
Shah Capital Management disclosed 17 US equity positions worth $489.6m in its Q1 2025 13F filing. The largest position was VEON at 44.0% of the reported book, followed by NVAX and CHINA YUCHAI INTL LTD. Against the Q4 2024 filing, it opened 2 new positions, added to 4 and reduced 7 among the top 17 holdings.
What did Shah Capital Management own in Q1 2025? Top 17 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q4 2024 |
|---|---|---|---|---|---|---|---|
| 1 | VEON VEON LTD | 44.0% | $215.6m | 4,942,790 | -0% | held | |
| 2 | NVAX NOVAVAX INC | Healthcare | 14.6% | $71.4m | 11,131,846 | -0% | held |
| 3 | CHINA YUCHAI INTL LTD | 11.5% | $56.5m | 3,324,022 | -24% | reduced | |
| 4 | VQKA EMEREN GROUP LTD | 6.0% | $29.5m | 18,818,236 | 0% | held | |
| 5 | VGSH VANGUARD SCOTTSDALE FDS | 4.5% | $21.9m | 373,988 | 57% | added | |
| 6 | CSIQ CANADIAN SOLAR INC | Technology | 3.4% | $16.5m | 1,906,285 | 9% | added |
| 7 | 0VVB PARAMOUNT GLOBAL | 3.3% | $16.0m | 1,340,173 | 20% | added | |
| 8 | EDU NEW ORIENTAL ED & TECHNOLOGY | Consumer Defensive | 3.0% | $14.6m | 306,250 | -1% | reduced |
| 9 | AM ANTERO MIDSTREAM CORP | Energy | 2.8% | $13.8m | 765,565 | -3% | reduced |
| 10 | GNW GENWORTH FINL INC | Financial Services | 1.6% | $7.7m | 1,090,743 | -42% | reduced |
| 11 | WOLF WOLFSPEED INC | Technology | 1.3% | $6.6m | 2,152,225 | – | new |
| 12 | TDAY GANNETT CO INC | Communication Services | 1.1% | $5.2m | 1,800,000 | 0% | held |
| 13 | VALARIS LTD | 1.0% | $4.7m | 120,506 | -1% | reduced | |
| 14 | DOLE DOLE PLC | Consumer Defensive | 0.8% | $3.9m | 271,232 | -2% | reduced |
| 15 | CHEER HLDG INC | 0.5% | $2.3m | 1,705,050 | 6% | added | |
| 16 | XRX XEROX HOLDINGS CORP | Industrials | 0.4% | $2.0m | 418,794 | – | new |
| 17 | BIDU BAIDU INC | Communication Services | 0.3% | $1.3m | 13,935 | -92% | reduced |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.