Indus Capital Partners, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Indus Capital Partners, LLC reported 3 stock positions worth $29.7 million. Its top holding was H World Group Ltd.-ADR (HTHT) at 79.0% of the portfolio, followed by KT Corp.-SP ADR (KT, 16.6%) and Bright Scholar Education-ADR (BEDU, 4.4%). Compared with Q2 2025, it sold out of 1 and added to 2. The biggest buy was H World Group Ltd.-ADR (HTHT, shares +9%) and the biggest sale an exit from HDFC Bank Ltd.-ADR (HDB).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001350879
Portfolio Value
$29.7M (Q3 2025)
SEC Filing
0000919574-25-006880 ↗ filed Nov 14, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $160.9M Q1 2024 Q2 2024: $163.3M Q2 2024 Q3 2024: $149.4M Q3 2024 Q4 2024: $139.1M Q4 2024 Q1 2025: $105.9M Q1 2025 Q2 2025: $79.9M Q2 2025 Q3 2025: $29.7M $29.7M Q3 2025 Q4 2025: $30.9M Q4 2025 Q1 2026: $39.7M Q1 2026 Q2 2026: $29.9M Q2 2026

Holdings 3 stocks · $29.7M
HTHT H World Group Ltd.-ADR 79.00% 599,324 $23.4M Add +8.6%
KT KT Corp.-SP ADR 16.59% 252,500 $4.9M Add +75.5%
BEDU Bright Scholar Education-ADR 4.41% 670,589 $1.3M No change

Portfolio Sells Q2 2025 → Q3 2025
HDB HDFC Bank Ltd.-ADR Sold out 0.00% −71.33

Portfolio Buys Q2 2025 → Q3 2025
HTHT H World Group Ltd.-ADR Add +8.6% 79.00% +55.56
KT KT Corp.-SP ADR Add +75.5% 16.59% +12.85

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 2$29.9MHTHT, KT
Q1 2026 2$39.7MHTHT, KT
Q4 2025 2$30.9MHTHT, KT
Q3 2025 3$29.7MHTHT, KT, BEDU
Q2 2025 4$79.9MHDB, HTHT, KT, BEDU
Q1 2025 5$105.9MHDB, GDS, HTHT, PDD, BEDU
Q4 2024 5$139.1MHDB, GDS, BEKE, BEDU, PDD
Q3 2024 5$149.4MHDB, BEKE, GDS, CTSH, BEDU
Q2 2024 5$163.3MHDB, YMM, BEKE, CTSH, BEDU
Q1 2024 5$160.9MHDB, YMM, BEKE, CTSH, BEDU