Novavax, Inc.
MX ˙ BMV ˙ US6700024010
SecurityMX:NVAX / Novavax, Inc.
InstitutionShah Capital Management
Latest Disclosed Ownership14,841,000 shares
Ownership 9.03%
Shah Capital Management ownership in NVAX / Novavax, Inc.

2026-05-15 - Shah Capital Management has filed an SCHEDULE 13D/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 14,841,000 shares of Novavax, Inc. (MX:NVAX). This represents 9.03 percent ownership of the company. In their previous filing dated 2026-04-08 , Shah Capital Management had reported owning 14,845,097 shares, indicating a decrease of -0.03 percent.

Institutional Ownership: 13D/G Filings

This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

File
Date		Effective
Date		Form Prev
Shares		 Latest
Shares		 ΔShares
(Percent)		 Ownership
(Percent)		 ΔOwnership
(Percent)
2026-05-15 2026-05-15 13D/A 14,845,097 14,841,000 -0.03 9.03 -0.88
2026-04-08 2026-04-08 13D/A 13,461,780 14,845,097 10.28 9.11 9.76
2025-11-12 2025-11-12 13D/A 11,811,780 13,461,780 13.97 8.30 13.70
2025-10-14 2025-10-14 13D/A 11,031,176 11,811,780 7.08 7.30 -7.59
2024-05-20 2024-05-20 13D/A 10,766,176 11,031,176 2.46 7.90 2.60
2024-05-07 2024-05-07 13D/A 9,383,335 10,766,176 14.74 7.70 14.93
2024-04-15 2024-04-15 13D/A 4,550,756 9,383,335 106.19 6.70 26.89
2024-04-15 2024-04-15 13D 4,550,756 9,383,335 106.19 6.70 26.89
2023-04-27 2023-04-27 13D 4,550,756 5.28

Important Note: One of the primary uses of the 13D/G filings is to evaluate the ability of a firm to control a company (ie, the "beneficial ownership"). To that end, firms are required to report not just direct holdings in companies, but indirect holdings that they control. For investment firms, these indirect holdings can include shares in funds they manage, advisory accounts, and in the case of activist campaigns, pledged votes. Therefore, share counts listed in 13D/G filings can differ significantly than share counts listed in 13F filings.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-04-24 2026-03-31 13F NOVAVAX COM NEW 670002401 14,845,097 286,317 1.97 120,839 23.51 23.1836
2026-01-15 2025-12-31 13F NOVAVAX COM NEW 670002401 14,558,780 2,747,000 23.26 97,835 -4.47 18.8685
2025-11-12 2025-09-30 13F NOVAVAX COM NEW 670002401 11,811,780 300,000 2.61 102,408 41.21 18.3206
2025-07-23 2025-06-30 13F NOVAVAX COM NEW 670002401 11,511,780 379,934 3.41 72,524 1.64 14.1105
2025-05-14 2025-03-31 13F NOVAVAX COM NEW 670002401 11,131,846 -17,000 -0.15 71,355 -20.39 14.5753
2025-01-22 2024-12-31 13F NOVAVAX COM NEW 670002401 11,148,846 1,333,305 13.58 89,637 -27.70 18.0756
2024-10-15 2024-09-30 13F NOVAVAX COM NEW 670002401 9,815,541 153,451 1.59 123,970 1.35 24.1649
2024-08-12 2024-06-30 13F NOVAVAX COM NEW 670002401 9,662,090 1,544,263 19.02 122,322 215.24 26.4586
2024-05-15 2024-03-31 13F NOVAVAX COM NEW 670002401 8,117,827 337,071 4.33 38,803 3.90 10.8579
2024-02-05 2023-12-31 13F NOVAVAX COM NEW 670002401 7,780,756 1,450,000 22.90 37,348 82,893.33 9.5668
2023-10-11 2023-09-30 13F NOVAVAX COM 670002401 6,330,756 850,000 15.51 46 12.50 10.8442
2023-07-13 2023-06-30 13F/A-2 NOVAVAX COM 670002401 5,480,756 1,229,680 28.93 41 37.93 10.3486
2023-07-12 2023-06-30 13F/A-1 NOVAVAX COM 670002401 4,251,076 0 29 8.5719
2023-07-12 2023-06-30 13F NOVAVAX COM 670002401 5,480,756 1,229,680 41 10.4776
2023-05-08 2023-03-31 13F NOVAVAX COM 670002401 4,251,076 3,536,076 494.56 29 314.29 8.5719
2023-01-13 2022-12-31 13F NOVAVAX COM 670002401 715,000 715,000 7 1.7462
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.