Under the Radar: Why This 600M Fund Manager Keeps Outperforming Wall Street

Benzinga_recent_news11-18

While everyone else is running in circles over the next week breathlessly talking about what Buffett, Ackman, Pabrai and Woods are buying, I will be calmly going through the 13f filings of obscure ...

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These are the fund managers who prefer to work out of the spotlight, way off Wall Street's radar screen.I work to find the managers who are putting up big numbers buying the stocks that the cord is ignoring.Finding out that someone of Berkshire Hathaway bought a bunch of United Health at the same time a few million other people get the same news does not create an edge.They serve a particular audience—high-net-worth and institutional investors who understand that true alpha requires patience. No day trading, no market-timing gimmicks. Just old-fashioned, fundamental investing with a willingness to act like an owner when necessary.It has also owned a stake in Marius Pharmaceuticals, where Shah serves as Executiv","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"DOLE":"都乐食品","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","BK4543":"AI","BK4531":"中概回港概念","BK4077":"互动媒体与服务","LU0640798160.USD":"EASTSPRING INVESTMENTS GLOBAL EMERGING MARKET DYNAMIC \"A\" (USD) ACC","BK4526":"热门中概股","BK4585":"ETF&股票定投概念","BK4563":"昨日强势股","BK4514":"搜索引擎","LU0287142896.SGD":"Fidelity China Focus A-SGD","BK4139":"生物科技","BK4602":"量子计算概念","AM":"Antero Midstream Corporation","LU1721429402.USD":"BNP PARIBAS SMART FOOD \"C\" (USD) ACC","LU1721429741.USD":"BNP PARIBAS SMART FOOD \"CRH\" (USD) INC","BK4587":"ChatGPT概念","BK4547":"WSB热门概念","BK4535":"淡马锡持仓","BK4212":"包装食品与肉类","BK4504":"桥水持仓","BK4612":"AI芯片","BK4090":"商品化工","BK4614":"Manus概念股","LU0173614495.USD":"富达中国焦点A","BK4568":"美国抗疫概念","BK4579":"人工智能","IE00BMQBXF63.USD":"BNY MELLON GLOBAL INFRASTRUCTURE INCOME \"B\" (USD) INC A","BK4588":"碎股","IE00BZ18W340.USD":"BNY MELLON GLOBAL INFRASTRUCTURE INCOME \"B\" (USD) ACC","LU0359201612.USD":"贝莱德中国基金A2","NVAX":"诺瓦瓦克斯医药","BK4548":"巴美列捷福持仓","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","BK4552":"Archegos爆仓风波概念","LU1115378108.SGD":"Eastspring Investments - Global Emerging Markets Dynamic AS SGD","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","BK4574":"无人驾驶","BK4539":"次新股","IE00BZ18W456.USD":"BNY MELLON GLOBAL INFRASTRUCTURE INCOME \"B\" (USD) INC","TROX":"Tronox控股","BK4144":"石油与天然气的储存和运输"},"translate_title":"在雷达下：为什么这位6亿美元的基金经理的表现一直优于华尔街","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NVAX":1,"DOLE":1,"AM":1,"TROX":1},"content_text":"While everyone else is running in circles over the next week breathlessly talking about what Buffett, Ackman, Pabrai and Woods are buying, I will be calmly going through the 13f filings of obscure money managers who know one has heard of, have little to no social media presence\nThese are the fund managers who prefer to work out of the spotlight, way off Wall Street's radar screen.\nI work to find the managers who are putting up big numbers buying the stocks that the cord is ignoring.\nFinding out that someone of Berkshire Hathaway bought a bunch of United Health at the same time a few million other people get the same news does not create an edge.\nEvery once in a while, you come across a firm that reminds you why deep research, conviction, and patience still matter in this business. Shah Capital, founded in 2005 by Himanshu H. Shah, is one of those rare firms that quietly beats the market while most of Wall Street chases the next shiny thing. Tucked away in Raleigh, North Carolina, this is not a shop built on algorithms, ETFs, or marketing gloss. It is built on hard research, independent thought, and the old-fashioned belief that concentrated portfolios of undervalued businesses will outperform over time if you simply ignore the noise.\nThe firm's mission is simple but brutally demanding: create long-term value through focus and conviction. Shah Capital invests globally in situations where the gap between market perception and intrinsic value is wide enough to drive a truck through. The website makes it clear that this is not a spray-and-pray operation. The portfolio, spread across biotech, renewable energy, and emerging-market telecom, is concentrated and intentionally selective. It is an investor's portfolio, not a trader's playground.\nThey serve a particular audience—high-net-worth and institutional investors who understand that true alpha requires patience. No day trading, no market-timing gimmicks. Just old-fashioned, fundamental investing with a willingness to act like an owner when necessary.\nAt the heart of it all is Himanshu Shah, a soft-spoken but fiercely analytical investor with over three decades of experience in global markets. Before launching Shah Capital, he spent nearly a decade at UBS, where he managed institutional portfolios and honed his contrarian instincts. Educated in India and the United States, Shah built his philosophy around simplicity: find companies that are misunderstood, undervalued, or poorly managed and then work patiently to unlock that value.\nSince its founding, the firm has made a habit of showing up in places where most investors fear to tread. From energy to telecom to biotech, Shah Capital has consistently gone where the crowd isn't. Over the years, the firm has taken meaningful positions in companies such as Emeren Group, a solar developer operating across global markets, and VEON, a telecom play in emerging economies.\nIt has also owned a stake in Marius Pharmaceuticals, where Shah serves as Executive Chairman, and, more recently, in Novavax, where his firm's engagement helped push the struggling vaccine maker toward a licensing deal with Sanofi.\nThat 2024 Novavax campaign is a perfect example of how Shah's quiet brand of activism works. Reuters reported that the firm, owning roughly 7% of Novavax, called for two new board members to help redirect the company. Weeks later, Sanofi announced a strategic partnership, and Shah Capital stepped back, satisfied that value was finally being realized.\nNo fireworks, no noise, just a disciplined investor doing what shareholders are supposed to do.\nAs of late 2024, Shah Capital managed over $600 million and had been closed to new investors for several years. The reason, according to the firm, was simple: they preferred to focus on performance, not asset gathering. In a business obsessed with scaling AUM, that decision alone speaks volumes.\n It's a return to the old partnership ethos, when success meant generating returns for clients rather than collecting management fees.\nThe firm and its founder have earned quiet respect in the investment community. Business North Carolina profiled Shah in 2024 as \"one of North Carolina's most successful investors,\" noting his relentless pursuit of complacent management teams and undervalued businesses. Reuters has covered his activist campaigns, typically portraying Shah as an intelligent, value-driven voice in an era of headline-chasing funds.\nThere is little in the way of controversy or noise surrounding Shah Capital. No social media campaigns, no flashy conference circuits. Just results. The public record shows an investor and a firm that have stayed faithful to their principles while adapting to global shifts—renewable energy, emerging-market growth, and post-pandemic restructuring.\nShah Capital is what happens when a contrarian thinker decides to run money the way investing was meant to be done: selectively, patiently, and with conviction. Himanshu Shah doesn't run a hedge fund built for CNBC sound bites. He runs a partnership for people who understand that real wealth is created over time, not over quarters.\nIt's rare to find a firm that still speaks the language of intrinsic value in a market dominated by AI and momentum screens. Shah Capital proves that focus still beats frenzy. It's a story worth watching and, for the few who get in early enough, one worth investing alongside.\nBuying his top ten holdings the day after his 13f lands at the SEC has delivered market crushing returns over the last decade,\nThe firm only made two purchases in the third quarter.\nShah Capitals's move into Dole (NYSE:DOLE) reads like a textbook contrarian value story. The world's largest fresh-produce company has spent the past two years cleaning up its balance sheet and integrating prior acquisitions, all while operating in a defensive industry that quietly benefits from global population growth and rising demand for fresh foods. With shares trading well below book value and a generous dividend, Shah likely saw a margin of safety combined with steady cash flow potential. Dole's focus on automation, distribution efficiency, and premium branding suggests a multi-year path to higher.\nHis purchase of Tronox Holdings (NYSE:TROX), a leading titanium dioxide producer, follows a similar logic but adds a cyclical twist. TROX sits at the intersection of industrial recovery and specialty chemicals, with improving global demand for coatings, construction, and renewables. The company's vertically integrated mining and processing structure provides cost advantages, and management has been laser-focused on deleveraging and returning capital to shareholders. At current levels, the stock offers both turnaround potential and inflation-hedging characteristics, a rare combination in today's market.\nOther top holding that were not reduced in the quarter include Baidu (BIDU), Gannett (GCI), Antero Resources (AM) and Novavax (NVAX).","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"express","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2584951355","isCrawlerRequest":true}