Shah Capital Management
RALEIGH, NC
$526m in 9 US stocks at the end of 30 June 2026. The top 10 are 100.0% of the money. It changed about 5.8% of the portfolio this quarter.
Value
$526m
Stocks
9
Top 10 share
100.0%
Turnover
5.8%
What changed this quarter
New
Bought for the first time this quarter.
None this quarter.
Added
Bought more of a stock they already held.
- Vanguard Scottsdale FDSVGSH4.2% of the fund+11%
Cut
Sold some of their stake.
- VeonVEON46.3% of the fund-5%
- NovavaxNVAX25.4% of the fund-5%
- China Yuchai InternationalCYD12.1% of the fund-17%
- Tronox HoldingsTROX3.1% of the fund-14%
- Canadian SolarCSIQ2.8% of the fund-4%
- New Oriental Education & Technology GroupEDU2.6% of the fund-3%
- Antero MidstreamAM2.4% of the fund-5%
- DoleDOLE1.1% of the fund-4%
Sold out
Sold their entire stake.
- WolfspeedWOLF-100%
- USA TodayTDAY-100%
Holdings
- VeonVEON
- Share
- 46.3%
- Value
- $244m
- Shares
- 4,667,578
-5%
- Vanguard Scottsdale FDSVGSH
- Share
- 4.2%
- Value
- $22m
- Shares
- 382,324
+11%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| VeonVEON | 46.3% | $244m | 4,667,578 | -5% |
| NovavaxNVAX | 25.4% | $133m | 14,165,577 | -5% |
| China Yuchai InternationalCYD | 12.1% | $64m | 1,341,057 | -17% |
| Vanguard Scottsdale FDSVGSH | 4.2% | $22m | 382,324 | +11% |
| Tronox HoldingsTROX | 3.1% | $16m | 2,570,814 | -14% |
| Canadian SolarCSIQ | 2.8% | $15m | 923,716 | -4% |
| New Oriental Education & Technology GroupEDU | 2.6% | $14m | 294,866 | -3% |
| Antero MidstreamAM | 2.4% | $13m | 556,830 | -5% |
| DoleDOLE | 1.1% | $6m | 440,826 | -4% |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 2.4% since 30 June 2025.
Where the money is
Health care25.4%
Industrials12.1%
Materials3.1%
Technology2.8%
Retail & consumer2.6%
Energy2.4%
Everyday goods1.1%
Other50.5%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.