Indus Capital Partners, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Indus Capital Partners, LLC reported 5 stock positions worth $139.1 million. Its top holding was HDFC Bank Ltd.-ADR (HDB) at 41.8% of the portfolio, followed by GDS Holdings Ltd. - ADR (GDS, 29.8%) and Ke Holdings Inc.-ADR (BEKE, 26.9%). Compared with Q3 2024, it opened 1 new position, sold out of 1, added to 1 and reduced 3. The biggest buy was GDS Holdings Ltd. - ADR (GDS, shares +39%) and the biggest sale HDFC Bank Ltd.-ADR (HDB, shares −28%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001350879
- Portfolio Value
- $139.1M (Q4 2024)
- SEC Filing
- 0000919574-25-001403 ↗ filed Feb 14, 2025
Holdings Value
Holdings 5 stocks · $139.1M
| HDB HDFC Bank Ltd.-ADR | 41.81% | 910,577 | $58.1M | Reduce -27.6% |
| GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD | 29.82% | 1,745,558 | $41.5M | Add +38.8% |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 26.87% | 2,028,691 | $37.4M | Reduce -3.1% |
| BEDU Bright Scholar Education-ADR | 0.83% | 670,725 | $1.2M | Reduce -5.4% |
| PDD PDD Holdings Inc. | 0.68% | 9,700 | $941K | New |
Portfolio Sells Q3 2024 → Q4 2024
Portfolio Buys Q3 2024 → Q4 2024
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 2 | $29.9M | HTHT, KT |
| Q1 2026 | 2 | $39.7M | HTHT, KT |
| Q4 2025 | 2 | $30.9M | HTHT, KT |
| Q3 2025 | 3 | $29.7M | HTHT, KT, BEDU |
| Q2 2025 | 4 | $79.9M | HDB, HTHT, KT, BEDU |
| Q1 2025 | 5 | $105.9M | HDB, GDS, HTHT, PDD, BEDU |
| Q4 2024 | 5 | $139.1M | HDB, GDS, BEKE, BEDU, PDD |
| Q3 2024 | 5 | $149.4M | HDB, BEKE, GDS, CTSH, BEDU |
| Q2 2024 | 5 | $163.3M | HDB, YMM, BEKE, CTSH, BEDU |
| Q1 2024 | 5 | $160.9M | HDB, YMM, BEKE, CTSH, BEDU |