Shah Capital Management
Annual return '25
+23.1%
SPY '25
+17.7%
Alpha
+5.3ptsvs SPY
Invested
$521.2M
Holdings
11
Trades YTD
0
Performance · Fund vs SPY
Cumulative return · quarterly snapshotsCoverage 97%. 4 quarters of 2025 measured against SPY adj-close benchmark.
Top holdings · current snapshot
Source: 13F-HR01
$VEON
VEON LTD
Q4 2025: Exited (was 4.82M shares)
43.4%
02
$NVAX
NOVAVAX INC
Q4 2025: Exited (was 11.81M shares)
23.2%
03
$CYD
CHINA YUCHAI INTL LTD
Q4 2025: Exited (was 1.67M shares)
12.0%
04
$TROX
TRONOX HOLDINGS PLC
Q4 2025: Exited (was 400.0k shares)
5.6%
05
$VGSH
VANGUARD SCOTTSDALE FDS
Q4 2025: Exited (was 356.5k shares)
3.9%
06
$EDU
NEW ORIENTAL ED & TECHNOLOGY
Q4 2025: Exited (was 304.7k shares)
3.3%
07
$AM
ANTERO MIDSTREAM CORP
Q4 2025: Exited (was 586.0k shares)
2.6%
08
$CSIQ
CANADIAN SOLAR INC
Q4 2025: Exited (was 1.69M shares)
2.6%
09
$WOLF
WOLFSPEED INC
Held since at least Q1 2024
1.6%
10
$DOLE
DOLE PLC
Q4 2025: Exited (was 275.4k shares)
1.3%
Recent trades · Last 90 days
No Form 4 / 13D / 13G trade events on file in the recent window. 13F filers report position snapshots quarterly rather than per-trade events, so this section is most useful for managers who also file Form 4 or 13D/G.
Convergence · Pattern Engine ships in v1.1
30-day windowIn development
Convergence participation lands with the Pattern Engine.
Once the Pattern Engine ships, this section will list every active convergence event this fund is named in — with the other named funds, the Congress members on the same name, and combined position size.
Source data: SEC EDGAR · 13F-HR filings · Performance through 2025-12-31 · Last refreshed 10:56 UTC.