# Shah Capital Management

> Shah Capital Management is an SEC-registered investment advisory firm in Raleigh, NC, registered since 2005, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated February 23, 2026.

- CRD: 133941
- Filed as: SHAH CAPITAL MANAGEMENT
- Legal name: Shah Capital Management, Inc
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Raleigh, NC
- Filing period: October 2026
- Form ADV filing dated: February 23, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/133941
- AdvisorCensus page: https://advisorcensus.com/firm/shah-capital-management-raleigh-nc-133941

## Quick answers

**How is Shah Capital Management compensated?**
On its Form ADV (Item 5.E, October 2026), Shah Capital Management reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Shah Capital Management located?**
Shah Capital Management's principal office is in Raleigh, NC, according to its Form ADV.

**Is Shah Capital Management registered with the SEC or a state?**
Shah Capital Management is an SEC-registered investment advisory firm, registered since 2005. Status as filed: Approved. CRD 133941.

**How much does Shah Capital Management manage?**
Shah Capital Management reports $768,017,626 in regulatory assets under management in its Form ADV filing dated February 23, 2026 (100% discretionary).

**How have Shah Capital Management's assets and staff changed since 2021?**
In the Form ADV data for Shah Capital Management: Regulatory assets under management: $422,110,428 in the October 2021 data and $768,017,626 in the October 2026 data, up 82%. Total employees: 6 in October 2021 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Shah Capital Management serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (27); individuals (other than high net worth individuals) (23); other (6).

**Which custodians does Shah Capital Management use?**
Shah Capital Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Shah Capital Management report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/133941

**What changed in Shah Capital Management's recent Form ADV filings?**
In the March 2026 filing data: Regulatory assets under management went from $639,263,299 to $768,017,626 (+20%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $768,017,626
- Discretionary: $768,017,626
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 23 | $18,807,053 |
| High net worth individuals | 27 | $60,081,726 |
| Pooled investment vehicles (other than investment companies and business development companies) | 1 | $674,454,538 |
| Other | 6 | $14,674,309 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2005 (21 years)
- Employees: 4 total, 2 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: CA, FL, NC, NY, OH, PA, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- shahcapital.com
- LinkedIn @SHAH-CAPITAL

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $422,110,428 | 6 | March 12, 2021 |
| October 2022 | $466,109,220 | 6 | April 12, 2022 |
| October 2023 | $545,879,221 | 5 | April 25, 2023 |
| October 2024 | $514,574,098 | 5 | March 25, 2024 |
| October 2025 | $639,263,299 | 4 | March 28, 2025 |
| October 2026 | $768,017,626 | 4 | February 23, 2026 |

Regulatory assets under management: $422,110,428 in the October 2021 data and $768,017,626 in the October 2026 data, up 82%.
Total employees: 6 in October 2021 and 4 in October 2026.

## Changes in the filing (last 12 months)

### March 2026
- Regulatory assets under management went from $639,263,299 to $768,017,626 (+20%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Shah Capital Management (CRD 133941): Form ADV filing data as of October 2026.