Dalton Investments, Inc.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 12, 2024), Dalton Investments, Inc. reported 26 stock positions worth $169.6 million. Its top holding was Icici Bank Ltd.-Spon ADR (IBN) at 20.9% of the portfolio, followed by Makemytrip (MMYT, 18.2%) and Nvidia (NVDA, 15.5%). Compared with Q2 2024, it opened 1 new position, sold out of 2, added to 4 and reduced 5. The biggest buy was a new position in Globant (GLOB) and the biggest sale Makemytrip (MMYT, shares −28%).
- Most Recent 13F
- Q2 2026
- Location
- El Segundo, CA
- CIK
- 0001388838
- Portfolio Value
- $169.6M (Q3 2024)
- SEC Filing
- 0001172661-24-004562 ↗ filed Nov 12, 2024
Holdings Value
Holdings 26 stocks · $169.6M
| IBN Icici Bank Ltd.-Spon ADR | 20.93% | 1,189,221 | $35.5M | Reduce -10.2% |
| MMYT Makemytrip Ltd. | 18.22% | 332,484 | $30.9M | Reduce -28.0% |
| NVDA Nvidia Corp. | 15.54% | 217,050 | $26.4M | No change |
| G Genpact Ltd. | 7.84% | 339,380 | $13.3M | Reduce -1.4% |
| INFY Infosys Ltd.-SP ADR | 6.50% | 495,018 | $11.0M | Reduce -1.2% |
| TASK Taskus Inc. Class A | 5.24% | 687,958 | $8.9M | Add +8.1% |
| LNG Cheniere Energy Inc. | 3.31% | 31,242 | $5.6M | No change |
| HDB HDFC Bank Ltd.-ADR | 3.01% | 81,700 | $5.1M | Add +42.1% |
| ANET Arista Networks Inc. | 2.56% | 11,300 | $4.3M | No change |
| RDY Dr. Reddy's Laboratories-ADR | 2.52% | 53,700 | $4.3M | No change |
| CTSH Cognizant Tech Solutions-A | 2.40% | 52,700 | $4.1M | Add +16.6% |
| GLOB Globant SA | 2.36% | 20,200 | $4.0M | New |
| MSFT Microsoft Corp. | 2.05% | 8,100 | $3.5M | No change |
| FRSH Freshworks Inc. Class A | 1.11% | 164,200 | $1.9M | Add +21.4% |
| AMX America Movil Sab DE CV | 1.07% | 110,700 | $1.8M | No change |
| CHRD Chord Energy Corp. | 1.02% | 13,280 | $1.7M | No change |
| EPSN Epsilon Energy Ltd. | 0.86% | 250,000 | $1.5M | No change |
| NVO Novo-Nordisk A/S-Spons ADR | 0.64% | 9,100 | $1.1M | No change |
| ON On Semiconductor | 0.61% | 14,300 | $1.0M | No change |
| TX Ternium SA-Sponsored ADR | 0.60% | 27,684 | $1.0M | Reduce -14.0% |
| EXLS Exlservice Holdings Inc. | 0.55% | 24,641 | $940K | No change |
| AMPY Amplify Energy Corp. | 0.34% | 89,410 | $584K | No change |
| KVUE Kenvue Inc. | 0.20% | 15,000 | $347K | No change |
| LAD Lithia Motors Inc. | 0.19% | 1,000 | $318K | No change |
| DRRX Durect Corporation | 0.18% | 225,000 | $302K | No change |
| MU Micron Technology Inc. | 0.14% | 2,260 | $234K | No change |
Portfolio Sells Q2 2024 → Q3 2024
| MMYT Makemytrip Ltd. | Reduce -28.0% | 18.22% | −3.86 |
| TTE Totalenergies SE -Spon ADR | Sold out | 0.00% | −2.89 |
| IBN Icici Bank Ltd.-Spon ADR | Reduce -10.2% | 20.93% | −0.76 |
| TRUP Trupanion Inc. | Sold out | 0.00% | −0.59 |
| TX Ternium SA-Sponsored ADR | Reduce -14.0% | 0.60% | −0.08 |
| INFY Infosys Ltd.-SP ADR | Reduce -1.2% | 6.50% | +1.19 |
| G Genpact Ltd. | Reduce -1.4% | 7.84% | +1.54 |
Portfolio Buys Q2 2024 → Q3 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 |