Dalton Investments, Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), Dalton Investments, Inc. reported 18 stock positions worth $134.2 million. Its top holding was Nvidia (NVDA) at 27.8% of the portfolio, followed by Cognizant Tech Solutions-A (CTSH, 17.8%) and Makemytrip (MMYT, 15.2%). Compared with Q3 2025, it opened 2 new positions, sold out of 1, added to 5 and reduced 3. The biggest buy was a new position in Taskus Class A (TASK) and the biggest sale an exit from WNS (WNS).

Most Recent 13F
Q2 2026
Location
El Segundo, CA
CIK
0001388838
Portfolio Value
$134.2M (Q4 2025)
SEC Filing
0001172661-26-000644 ↗ filed Feb 12, 2026

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $165.0M Q1 2024 Q2 2024: $175.8M Q2 2024 Q3 2024: $169.6M Q3 2024 Q4 2024: $192.4M Q4 2024 Q1 2025: $186.1M Q1 2025 Q2 2025: $188.4M Q2 2025 Q3 2025: $148.9M Q3 2025 Q4 2025: $134.2M $134.2M Q4 2025 Q1 2026: $103.3M Q1 2026 Q2 2026: $111.0M Q2 2026

Holdings 18 stocks · $134.2M
NVDA Nvidia Corp. 27.81% 200,150 $37.3M Reduce -7.8%
CTSH Cognizant Tech Solutions-A 17.82% 288,138 $23.9M Add +32.8%
MMYT Makemytrip Ltd. 15.23% 248,883 $20.4M No change
G Genpact Ltd. 10.29% 295,380 $13.8M No change
TASK Taskus Inc. Class A 8.33% 947,782 $11.2M New
SE Sea Ltd.-ADR 4.07% 42,800 $5.5M Add +54.0%
GRAB Grab Holdings Ltd. Class A 4.01% 1,077,600 $5.4M Add +52.0%
ANET Arista Networks Inc. 2.45% 25,100 $3.3M Reduce -39.1%
FRSH Freshworks Inc. Class A 2.29% 250,519 $3.1M Add +6.0%
ISRG Intuitive Surgical Inc. 1.73% 4,100 $2.3M No change
LNG Cheniere Energy Inc. 1.70% 11,744 $2.3M No change
AMX America Movil Sab DE CV 1.03% 66,800 $1.4M Add +33.6%
CHRD Chord Energy Corp. 0.92% 13,280 $1.2M No change
EPSN Epsilon Energy Ltd. 0.86% 250,000 $1.2M No change
GLOB Globant SA 0.64% 13,100 $856K Reduce -25.6%
KOS Kosmos Energy Ltd. 0.34% 500,000 $454K New
AMPY Amplify Energy Corp. 0.30% 89,410 $409K No change
KVUE Kenvue Inc. 0.19% 15,000 $259K No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $545K (not counted above)
SecurityClassShares / PrincipalValueChange
EXEEL Chesapeake Energy Corp. -CW26 *W EXP 02/09/202 5,471$545KAdd +65.7%

Total filed on the 13F, all lines: $134.8M.

Portfolio Sells Q3 2025 → Q4 2025
WNS WNS Holdings Ltd. Sold out 0.00% −20.27
ANET Arista Networks Inc. Reduce -39.1% 2.45% −1.58
GLOB Globant SA Reduce -25.6% 0.64% −0.04
NVDA Nvidia Corp. Reduce -7.8% 27.81% +0.61

Portfolio Buys Q3 2025 → Q4 2025
TASK Taskus Inc. Class A New 8.33% +8.33
CTSH Cognizant Tech Solutions-A Add +32.8% 17.82% +8.04
GRAB Grab Holdings Ltd. Class A Add +52.0% 4.01% +1.14
SE Sea Ltd.-ADR Add +54.0% 4.07% +0.73
FRSH Freshworks Inc. Class A Add +6.0% 2.29% +0.42
KOS Kosmos Energy Ltd. New 0.34% +0.34
AMX America Movil Sab DE CV Add +33.6% 1.03% +0.32

Notes & Other Activity Q3 2025 → Q4 2025
EXEEL Chesapeake Energy Corp. -CW26 *W EXP 02/09/202 Add +65.7% 5,471 $545K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 16$111.0MNVDA, MMYT, CTSH, G, TASK
Q1 2026 17$103.3MNVDA, CTSH, MMYT, TASK, G
Q4 2025 18$134.2MNVDA, CTSH, MMYT, G, TASK
Q3 2025 17$148.9MNVDA, WNS, MMYT, CTSH, G
Q2 2025 19$188.4MIBN, NVDA, WNS, MMYT, CTSH
Q1 2025 21$186.1MIBN, WNS, MMYT, NVDA, CTSH
Q4 2024 26$192.4MIBN, MMYT, NVDA, WNS, G
Q3 2024 26$169.6MIBN, MMYT, NVDA, G, INFY
Q2 2024 27$175.8MMMYT, IBN, NVDA, G, INFY
Q1 2024 27$165.0MIBN, MMYT, NVDA, G, INFY