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Dalton Investments LLC

CIK:0001388838
Asset Manager
$4B AUM
20 holdings
Santa Monica, CA, United States
Founded:1999
44 employees
daltoninvestments.com
Latest filing:Jun 30, 2025

Dalton Investments LLC is a boutique asset management firm headquartered in Santa Monica, California, United States. Founded in 1999, Dalton specializes in value-oriented investment strategies across global equity markets, with a particular focus on Asia and emerging markets. The firm serves institutional investors, family offices, foundations, endowments, and high-net-worth individuals. Dalton is known for fundamental research and a long-term perspective, typically employing bottom-up stock selection. The firm has around 44 employees, with about 39% directly involved in investment functions.

Investment Strategy

Dalton Investments LLC employs a value-oriented, long-term investment strategy with a focus on undervalued equities in Asian and other global emerging markets. The firm specializes in bottom-up fundamental analysis, seeking securities trading at substantial discounts to intrinsic value, often with catalysts such as corporate governance reform, shareholder activism, or structural market changes. Dalton’s approach seeks capital preservation and risk management through careful security selection and diversification, with an emphasis on alignment with shareholders and downside protection.

Latest 13F Filing Activity

Dalton Investments LLC filed their most recent 13F report on Jun 30, 2025 disclosing 19 equity positions with a total 13F market value of $189M. The fund increased holdings in Nvidia Corporation, Icici Bank Limited, Intuitive Surgical Inc. among other positions. Dalton Investments LLC reduced exposure to Taskus Inc., Globant S A, Genpact Limited among others.

Top Buys
N
NVDANVIDIA CORPORATION
+$10.8M
I
IBNICICI BANK LIMITED
+$2.5M
I
ISRGINTUITIVE SURGICAL INC
+$1.0M
A
ANETARISTA NETWORKS INC
+$1.0M
W
WNSWNS HLDGS LTD
+$974.8K
Top Sells
T
TASKTASKUS INC
-$10.2M
G
GLOBGLOBANT S A
-$3.7M
G
GGENPACT LIMITED
-$1.9M
C
CHRDCHORD ENERGY CORPORATION
-$210.8K
E
EPSNEPSILON ENERGY LTD
+$80.0K

Top Holdings

I
IBNICICI BANK LIMITED
+21.0%$39.6M
N
NVDANVIDIA CORPORATION
+18.2%$34.3M
W
WNSWNS HLDGS LTD
+17.5%$33.0M
M
MMYTMAKEMYTRIP LIMITED MAURITIUS
+12.9%$24.4M
C
CTSHCOGNIZANT TECHNOLOGY SOLUTIO
+9.0%$17.0M

Equity Positions (19)

TickerSecurityWeightMarket ValueSharesAvg CostPriceChange (QoQ)
I
IBN
ICICI BANK LIMITED20.97%$39.6M1,176,842$11.06$33.64+$2.5M
N
NVDA
NVIDIA CORPORATION18.16%$34.3M217,050$12.76$157.99+$10.8M
W
WNS
WNS HLDGS LTD17.48%$33.0M521,902$47.42$63.24+$974.8K
M
MMYT
MAKEMYTRIP LIMITED MAURITIUS12.92%$24.4M248,883$19.71$98.02+$7.5K
C
CTSH
COGNIZANT TECHNOLOGY SOLUTIO8.99%$17.0M217,638$75.54$78.03+$333.0K

Industry Allocation

COMMERCIAL BANKS, NEC
+24.3%
SEMICONDUCTORS & RELATED DEVICES
+18.2%
SERVICES-BUSINESS SERVICES, NEC
+17.5%
TRANSPORTATION SERVICES
+12.9%
SERVICES-COMPUTER PROGRAMMING SERVICES
+9.0%

Investment Team (5)

NameRoleLocationLinkedIn
G
Gifford Combs		Portfolio ManagerLos Angeles, CA , United States
Pedro Zevallos
Pedro Zevallos		Partner, Senior Research AnalystDallas, TX , United States
K
Krishan Agarwal		Equity Analyst, $1 billion hedge fundLos Angeles, CA , United States
Owens Huang
Owens Huang		Portfolio ManagerUnited States
Venkat Pasupuleti
Venkat Pasupuleti		Portfolio Manager, Dalton India FundLos Angeles, CA , United States