Stocks/Funds/CIK 1388838

Dalton Investments LLC

long-term holderconcentrated
Quarterly 13F filings · Latest period 2026-03-31 · CIK 1388838
Assets
$103M
-44.6% YoY
Holdings
17
Lifetime alpha vs market
-0.33% annual
Average hold time
3.5 yr
median 3.5 yr

Quarterly history

Cum return +50% vs S&P +52% · α -2% lifetimeAUM $103M · peak $266MFlow $-13M (-10%)2016-062017-122019-062020-122022-062023-122025-062026-03
AUM ($B)fundS&P 500(gap = α)/ Flow in/out

Behavior signals (lifetime)

Dip response
+1.41%
adds when stocks drop
when a holding falls −10%+
Middle response
-2.35%
baseline attrition
Rally response
-8.83%
trims into rallies
when a holding rises +10%+

Top positions · 17

Ticker$ value% portYoYHold time
NVDANVIDIA Corporation$35M33.8%+60.9%4.0 yr
CTSHCognizant Technology Sol$16M15.8%-18.4%5.3 yr
MMYTMakeMyTrip Limited$15M14.6%-61.9%6.3 yr
TASKTaskUs, Inc.$10M9.9%-50.8%2.0 yr
GGenpact Limited$9M8.5%-24.8%10.5 yr
SESea Limited$5M4.6%-36.5%0.8 yr
ANETArista Networks, Inc.$2M2.1%+58.5%1.5 yr
ISRGIntuitive Surgical, Inc.$2M1.8%-6.9%1.5 yr
CHRDChord Energy Corporation$2M1.8%+32.8%3.8 yr
EPSNEpsilon Energy Ltd.$2M1.5%-9.0%4.0 yr
$1M1.3%2.5 yr
FRSHFreshworks Inc.$1M1.0%-43.1%3.8 yr
TSMTaiwan Semiconductor Man$1M0.9%+105.6%3.5 yr
SHGShinhan Financial Group $1M0.8%+95.3%0.3 yr
KOSKosmos Energy Ltd.$1M0.7%+21.9%0.5 yr

Portfolio composition (YoY)

Industry mix
Semiconductors34.7%+22.1pp$36M
Information Technology Services34.2%+9.8pp$35M
Travel Services14.6%+1.6pp$15M
Specialty Retail4.6%$5M
Oil & Gas Exploration & Production4.5%+2.6pp$5M
Computer Hardware2.1%+0.3pp$2M
Medical - Devices1.8%+1.2pp$2M
Unknown1.3%-16.8pp$1M
Software - Application1.0%+0.1pp$1M
Banks - Regional0.8%-22.0pp$1M
Country
US69.2%+35.1pp
IN14.6%-22.7pp
BM8.5%+0.5pp
SG4.6%
Unknown1.3%-16.8pp
TW0.9%
KR0.8%
Top 5: 82.6% · Top 10: 94.4% · Top 25: 100.0%

Winners

TickerPrev $PnLYoY %
NVDA$24M+0.01B60.9%
ANET$3M+0.00B58.5%
CHRD$1M+0.00B32.8%
AMPY$0M+0.00B66.8%
ISRG$1M-0.00B-6.9%

Losers

TickerPrev $PnLYoY %
MMYT$24M-0.02B-61.9%
TASK$10M-0.01B-50.8%
G$15M-0.00B-24.8%
CTSH$17M-0.00B-18.4%
FRSH$2M-0.00B-43.1%

Top buys this quarter · 4

MMYT MakeMyTrip Limited+$15M
TASK TaskUs, Inc.+$10M
SE Sea Limited+$5M
SHG Shinhan Financial Group Co., Lnew+$1M

Top sells this quarter · 11

TSM Taiwan Semiconductor Manufactu$13M
GRAB Grab Holdings Limitedexit$4M
LNG Cheniere Energy, Inc.exit$3M
G Genpact Limited$2M
CTSH Cognizant Technology Solutions$1M
ANET Arista Networks, Inc.$1M
FRSH Freshworks Inc.$1M
KOS Kosmos Energy Ltd.$0M
GLOB Globant S.A.exit$1M
$0M

Quarterly history (TTM returns)

PeriodAUM# PosReturn (1yr)SPY (1yr)Alpha (1yr)Flow
2026-03-31$103M17-7.25%+17.59%-24.84%-0.01B
2025-12-31$135M19-0.37%+17.72%-18.08%-0.01B
2025-09-30$149M18+11.60%+17.52%-5.92%-0.04B
2025-06-30$189M20+18.57%+14.94%+3.63%-0.02B
2025-03-31$186M22+17.33%+8.30%+9.02%+0.01B
2024-12-31$193M27+43.69%+24.89%+18.80%+0.01B
2024-09-30$170M26+40.11%+36.04%+4.07%-0.02B
2024-06-30$176M27+46.45%+24.49%+21.96%-0.00B
2024-03-31$165M27+37.86%+29.62%+8.24%-0.01B
2023-12-31$151M26+19.28%+26.18%-6.90%+0.01B
2023-09-30$129M27+11.83%+21.57%-9.74%-0.00B
2023-06-30$118M26+12.85%+19.42%-6.57%+0.00B
2023-03-31$114M27+0.12%-7.82%+7.93%+0.00B
2022-12-31$116M26+0.69%+7.56%-6.88%-0.01B
2022-09-30$122M27+11.65%-4.93%+16.58%-0.00B
2022-06-30$110M28-9.24%-16.11%+6.87%-0.02B