Dalton Investments, Inc.
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 13, 2024), Dalton Investments, Inc. reported 27 stock positions worth $175.8 million. Its top holding was Makemytrip (MMYT) at 22.1% of the portfolio, followed by Icici Bank Ltd.-Spon ADR (IBN, 21.7%) and Nvidia (NVDA, 15.2%). Compared with Q1 2024, it opened 2 new positions, sold out of 2, added to 4 and reduced 8. The biggest buy was HDFC Bank Ltd.-ADR (HDB, shares +98%) and the biggest sale Infosys Ltd.-SP ADR (INFY, shares −16%).
- Most Recent 13F
- Q2 2026
- Location
- El Segundo, CA
- CIK
- 0001388838
- Portfolio Value
- $175.8M (Q2 2024)
- SEC Filing
- 0001172661-24-003331 ↗ filed Aug 13, 2024
Holdings Value
Holdings 27 stocks · $175.8M
| MMYT Makemytrip Ltd. | 22.08% | 461,584 | $38.8M | Reduce -9.2% |
| IBN Icici Bank Ltd.-Spon ADR | 21.69% | 1,323,721 | $38.1M | Reduce -6.1% |
| NVDA Nvidia Corp. | 15.25% | 217,050 | $26.8M | No change |
| G Genpact Ltd. | 6.30% | 344,180 | $11.1M | Reduce -6.4% |
| INFY Infosys Ltd.-SP ADR | 5.31% | 501,018 | $9.3M | Reduce -16.2% |
| TASK Taskus Inc. Class A | 4.82% | 636,458 | $8.5M | Add +2.5% |
| LNG Cheniere Energy Inc. | 3.11% | 31,242 | $5.5M | No change |
| TTE Totalenergies SE -Spon ADR | 2.89% | 76,320 | $5.1M | No change |
| RDY Dr. Reddy's Laboratories-ADR | 2.33% | 53,700 | $4.1M | No change |
| ANET Arista Networks Inc. | 2.25% | 11,300 | $4.0M | No change |
| HDB HDFC Bank Ltd.-ADR | 2.10% | 57,500 | $3.7M | Add +97.6% |
| MSFT Microsoft Corp. | 2.06% | 8,100 | $3.6M | No change |
| CTSH Cognizant Tech Solutions-A | 1.75% | 45,200 | $3.1M | Add +25.9% |
| CHRD Chord Energy Corp. | 1.27% | 13,280 | $2.2M | No change |
| AMX America Movil Sab DE CV | 1.07% | 110,700 | $1.9M | Reduce -37.2% |
| FRSH Freshworks Inc. Class A | 0.98% | 135,200 | $1.7M | Add +21.0% |
| EPSN Epsilon Energy Ltd. | 0.77% | 250,000 | $1.4M | No change |
| NVO Novo-Nordisk A/S-Spons ADR | 0.74% | 9,100 | $1.3M | New |
| TX Ternium SA-Sponsored ADR | 0.69% | 32,184 | $1.2M | Reduce -23.0% |
| TRUP Trupanion Inc. | 0.59% | 35,000 | $1.0M | New |
| ON On Semiconductor | 0.56% | 14,300 | $980K | No change |
| EXLS Exlservice Holdings Inc. | 0.44% | 24,641 | $773K | Reduce -50.9% |
| AMPY Amplify Energy Corp. | 0.34% | 89,410 | $606K | No change |
| MU Micron Technology Inc. | 0.17% | 2,260 | $297K | Reduce -60.8% |
| DRRX Durect Corporation | 0.17% | 225,000 | $290K | No change |
| KVUE Kenvue Inc. | 0.16% | 15,000 | $273K | No change |
| LAD Lithia Motors Inc. | 0.14% | 1,000 | $252K | No change |
Portfolio Sells Q1 2024 → Q2 2024
| INFY Infosys Ltd.-SP ADR | Reduce -16.2% | 5.31% | −1.19 |
| G Genpact Ltd. | Reduce -6.4% | 6.30% | −1.05 |
| AMX America Movil Sab DE CV | Reduce -37.2% | 1.07% | −0.92 |
| IBN Icici Bank Ltd.-Spon ADR | Reduce -6.1% | 21.69% | −0.89 |
| EXLS Exlservice Holdings Inc. | Reduce -50.9% | 0.44% | −0.53 |
| IMCR Immunocore Holdings PLC-ADR | Sold out | 0.00% | −0.39 |
| TX Ternium SA-Sponsored ADR | Reduce -23.0% | 0.69% | −0.37 |
| ZG Zillow Group Inc. Class A | Sold out | 0.00% | −0.29 |
| MU Micron Technology Inc. | Reduce -60.8% | 0.17% | −0.24 |
| MMYT Makemytrip Ltd. | Reduce -9.2% | 22.08% | +0.18 |
Portfolio Buys Q1 2024 → Q2 2024
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 16 | $111.0M | NVDA, MMYT, CTSH, G, TASK |
| Q1 2026 | 17 | $103.3M | NVDA, CTSH, MMYT, TASK, G |
| Q4 2025 | 18 | $134.2M | NVDA, CTSH, MMYT, G, TASK |
| Q3 2025 | 17 | $148.9M | NVDA, WNS, MMYT, CTSH, G |
| Q2 2025 | 19 | $188.4M | IBN, NVDA, WNS, MMYT, CTSH |
| Q1 2025 | 21 | $186.1M | IBN, WNS, MMYT, NVDA, CTSH |
| Q4 2024 | 26 | $192.4M | IBN, MMYT, NVDA, WNS, G |
| Q3 2024 | 26 | $169.6M | IBN, MMYT, NVDA, G, INFY |
| Q2 2024 | 27 | $175.8M | MMYT, IBN, NVDA, G, INFY |
| Q1 2024 | 27 | $165.0M | IBN, MMYT, NVDA, G, INFY |