Shah Capital Top Picks: China Yuchai Intl Ltd. (CYD), Utstarcom Holdings Corp. (UTSI) & Others
In the current round of 13F filings, hedge funds and other institutional investors are disclosing their equity portfolios as held at the end of the last year. Himanshu H. Shah’s Shah Capital Management is one those funds, which in its latest 13F filing disclosed an equity portfolio with a total value of about $132.99 million, slightly up from about $131.89 million at the end of the third quarter of 2013.
In this piece, we will talk about the five largest holdings from the Shah Capital’s equity portfolio, in terms of value, as at the end of last year.
The first on the list is China Yuchai Intl Ltd. (NYSE:CYD) in which the fund owned about 2.30 million shares by the end of the year. The fund reported a stake of about $48.10 million in the company. Recently, China Yuchai announced that it unveiled the eight new engine models to further increase its leadership in the engine market in 2014.
Utstarcom Holdings Corp. (NASDAQ:UTSI) is the second largest holding in which Shah Capital revealed a stake of about $20.26 million. The fund owned over 6.85 million shares in the company by the end of year. Utstarcom Holdings Corp. (NASDAQ:UTSI) provides interactive, Protocol (IP)-based network solutions including the integration and support services in Internet Protocol TV (IPTV), interactive (iD)TV, internet tv and broadband for cable and telecom operators.
Chiquita Brands Intl Inc. (NYSE:CQB) is represented in the Shah Capital’s equity portfolio by a $14.45 million stake, which amasses 1.23 million shares.
Shah Capital disclosed a stake of about $13.80 million in Canadian Solar Inc. (NASDAQ:CSIQ). The fund owned 462,800 shares of the company. Canadian Solar Inc. (NASDAQ:CSIQ) is the leading solar manufacturer. The company delivers high efficiency solar cells, solar modules, solar power systems and off grid solar power application solutions.
In a statement, Canadian Solar Inc. (NASDAQ: CSIQ) announced that its subsidiary Canadian Solar Solutions Inc. agreed to sell the Oro-Medonte solar power plant totaling 10 MW to a fund managed by BlackRock.
Shah Capital disclosed the fifth-largest holding in Trina Solar Limited (NYSE: TSL), which amasses 490,900 with a reported value of about $6.71 million. The company specializes in the manufacture of crystalline silicon photovoltaic modules and system integration.