Dalton Investments, Inc.
Long book
$103.3M
Q1 2026
Positions
17
Top-10 weight
94%
concentration
Last quarter
+4.4%
SPY +14.8%
Turnover
29%
of book per quarter
Strategy in plain words
auto-generated from filingsDalton Investments, Inc. is a concentrated fundamental stock-picker, specialised in technology (64% of the long book), running a $103.3M US long book across 17 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: NVIDIA CORP, COGNIZANT TECH SOLUTIONS-A, MAKEMYTRIP LTD, TASKUS INC-A, GENPACT LTD.
Over the last 9 quarters its long book ran on average 3pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+11.3%
Q2 2024
+5.8%
Q3 2024
+9.1%
Q4 2024
-7.4%
Q1 2025
+10.5%
Q2 2025
-0.9%
Q3 2025
-0.5%
Q4 2025
-19.1%
Q1 2026
+4.4%
Sector allocation
Technology 68%
Industrials 16%
Services media 9%
Energy 5%
Healthcare 2%
Other 0%
Long book by quarter
What does Dalton Investments, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 200.2K | $34.9M | 33.8% | Held |
| CTSH COGNIZANT TECH SOLUTIONS-A | Technology | 266.8K | $16.4M | 15.8% | -7.4% |
| MMYT MAKEMYTRIP LTD | Industrials | 405.6K | $15.1M | 14.6% | +63.0% |
| TASK TASKUS INC-A | Technology | 1.5M | $10.2M | 9.9% | +60.1% |
| G GENPACT LTD | Services media | 236.5K | $8.8M | 8.5% | -19.9% |
| ANET ARISTA NETWORKS INC | Technology | 17.3K | $2.1M | 2.1% | -31.1% |
| ISRG INTUITIVE SURGICAL INC | Healthcare | 4.1K | $1.9M | 1.8% | Held |
| CHRD CHORD ENERGY CORP | Energy | 13.3K | $1.9M | 1.8% | Held |
| EPSN EPSILON ENERGY LTD | Energy | 250.0K | $1.5M | 1.5% | Held |
| FRSH FRESHWORKS INC-CL A | Technology | 134.5K | $1.1M | 1.0% | -46.3% |
| KOS KOSMOS ENERGY LTD | Energy | 250.0K | $695K | 0.7% | -50.0% |
| AMPY AMPLIFY ENERGY CORP | Energy | 89.4K | $558K | 0.5% | Held |
| KVUE KENVUE INC | Other | 15.0K | $259K | 0.3% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 12, 2026 | 17 | $103.3M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 12, 2026 | 19 | $134.8M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 6, 2025 | 18 | $149.2M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 7, 2025 | 20 | $188.8M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 12, 2025 | 22 | $186.4M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 27 | $192.7M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 26 | $169.6M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 27 | $175.8M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 27 | $165.0M | canonical | SEC ↗ |