SHAH CAPITAL MANAGEMENT 13F: Quarter-over-Quarter Portfolio Changes
Shah Capital Management reported a disclosed portfolio value of approximately $605.3 million in its latest SEC Form 13F-HR filing for Q3 2026, up 15.0% quarter on quarter. Over the quarter, the fund initiated 2 new positions, bought more shares in 2 holdings, and trimmed 7 holdings.
Shah Capital Management's top buy was Vanguard Scottsdale FDS (VGSH). The fund bought 46.9% more shares, lifting the position's portfolio weight by 1.1 percentage points. Its top sell was Novavax (NVAX). The fund sold 14.1% of its previously reported shares, reducing the position's portfolio weight by 3.6 percentage points.
New PositionsQ3 2026
Securities disclosed for the first time in Q3 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| ELICIO THERAPEUTICS INC | ELTX | 0.4% | History → |
| REAL REMAX GROUP INC | REAX | 0.1% | History → |
Top BuysQ3 2026
The fund's top buys among existing positions in Q3 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| VANGUARD SCOTTSDALE FDS | VGSH | +1.1% | +46.9% | History → |
| TRONOX HOLDINGS PLC | TROX | -1.2% | +13.4% | History → |
Top SellsQ3 2026
The fund's top sells among positions it retained in Q3 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| NOVAVAX INC | NVAX | -3.6% | 14.1% | History → |
| ANTERO MIDSTREAM CORP | – | -0.7% | 6.3% | – |
| DOLE PLC | DOLE | -0.3% | 3.1% | History → |
| CHINA YUCHAI INTL LTD | CYD | -5.3% | 1.6% | History → |
| CANADIAN SOLAR INC | CSIQ | -1.1% | 1.5% | History → |
| NEW ORIENTAL ED & TECHNOLOGY | EDU | +0.1% | 1.1% | History → |
| VEON LTD | VEON | +10.5% | 0.4% | History → |
Net Portfolio Value ChangeQ3 2026
- $0.5BPrior quarter
- $0.6BCurrent quarter
- +$0.1BNet delta
- +15.0%% change
Methodology & FAQ
How SHAH CAPITAL MANAGEMENT Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for SHAH CAPITAL MANAGEMENT: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description, including how confidential treatment filings are handled, is documented in the Methodology.
What stocks did SHAH CAPITAL MANAGEMENT buy in Q3 2026?
In Q3 2026, SHAH CAPITAL MANAGEMENT initiated 2 new positions (ELICIO THERAPEUTICS INC (ELTX), REAL REMAX GROUP INC (REAX)); bought more shares of VANGUARD SCOTTSDALE FDS (VGSH), TRONOX HOLDINGS PLC (TROX).
What stocks did SHAH CAPITAL MANAGEMENT sell in Q3 2026?
In Q3 2026, SHAH CAPITAL MANAGEMENT reduced holdings in NOVAVAX INC (NVAX), ANTERO MIDSTREAM CORP, DOLE PLC (DOLE), CHINA YUCHAI INTL LTD (CYD), CANADIAN SOLAR INC (CSIQ) (the largest 5 of 7 reductions).
Which positions did SHAH CAPITAL MANAGEMENT initiate in Q3 2026?
SHAH CAPITAL MANAGEMENT established 2 new positions in Q3 2026: ELICIO THERAPEUTICS INC (ELTX, 0.4%), REAL REMAX GROUP INC (REAX, 0.1%).
Which existing positions saw the largest allocation increases for SHAH CAPITAL MANAGEMENT in Q3 2026?
Of 2 existing positions with share-count increases in Q3 2026, the largest were: VANGUARD SCOTTSDALE FDS (VGSH, +1.1% weight, +46.9% shares), TRONOX HOLDINGS PLC (TROX, -1.2% weight, +13.4% shares).
Which positions did SHAH CAPITAL MANAGEMENT fully exit in Q3 2026?
SHAH CAPITAL MANAGEMENT fully exited no positions in Q3 2026.
Which existing positions saw the largest allocation reductions for SHAH CAPITAL MANAGEMENT in Q3 2026?
Of 7 existing positions with share-count reductions in Q3 2026, the largest were: NOVAVAX INC (NVAX, -3.6% weight, -14.1% shares), ANTERO MIDSTREAM CORP (-0.7% weight, -6.3% shares), DOLE PLC (DOLE, -0.3% weight, -3.1% shares), CHINA YUCHAI INTL LTD (CYD, -5.3% weight, -1.6% shares), CANADIAN SOLAR INC (CSIQ, -1.1% weight, -1.5% shares), NEW ORIENTAL ED & TECHNOLOGY (EDU, +0.1% weight, -1.1% shares), VEON LTD (VEON, +10.5% weight, -0.4% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.