Dalton Investments 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
1ST CENTURY BANCSHARES INC	COM	31943x102	648	105,000	SH		SOLE		105,000	0	0
ACACIA RESH CORP	ACACIA TCH COM	003881307	320	14,322	SH		SOLE		14,322	0	0
ALPS ETF TR	JEFF TRJ CRB GLO	00162Q304	521	13,050	SH		SOLE		13,050	0	0
AMERICAN INTL GROUP INC	*W EXP 01/19/202	026874156	3,521	193,062	SH		SOLE		193,062	0	0
AMERICAN INTL GROUP INC	COM NEW	026874784	65,374	1,462,500	SH		SOLE		1,462,500	0	0
AON PLC	SHS CL A	G0408V102	225	3,500	SH		SOLE		3,500	0	0
BANCROFT FUND LTD	COM	059695106	473	27,302	SH		SOLE		27,302	0	0
BANK OF AMERICA CORPORATION	COM	060505104	14,700	1,143,066	SH		SOLE		1,143,066	0	0
BARCLAYS BK PLC	IPATH S&P500 VIX	06740c188	559	27,000	SH		SOLE		27,000	0	0
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	3,541	21	SH		SOLE		21	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	67,885	606,550	SH		SOLE		606,550	0	0
BGC PARTNERS INC	CL A	05541t101	118	20,000	SH		SOLE		20,000	0	0
BLACKROCK MUNIHLDNGS QLTY II	COM	09254C107	306	22,129	SH		SOLE		22,129	0	0
BLACKROCK MUNIHOLDNGS QLTY I	COM	09254A101	219	17,111	SH		SOLE		17,111	0	0
BLACKROCK MUNIYIELD CALIF FD	COM	09254M105	240	15,731	SH		SOLE		15,731	0	0
CHESAPEAKE ENERGY CORP	COM	165167107	510	25,000	SH		SOLE		25,000	0	0
CISCO SYS INC	COM	17275R102	3,056	125,600	SH		SOLE		125,600	0	0
CITIGROUP INC	COM NEW	172967424	40,460	843,435	SH		SOLE		843,435	0	0
COHEN & STEERS CLOSED END OP	COM	19248P106	469	35,717	SH		SOLE		35,717	0	0
COMMONWEALTH REIT	COM SH BEN INT	203233101	4,693	203,000	SH		SOLE		203,000	0	0
DELL INC	COM	24702R101	9,307	698,465	SH		SOLE		698,465	0	0
DEUTSCHE BK AG LONDON BRH	3X INV JAP GOV	25154P188	1,551	83,000	SH		SOLE		83,000	0	0
ELLSWORTH FUND LTD	COM	289074106	708	92,424	SH		SOLE		92,424	0	0
FORD MTR CO DEL	COM PAR $0.01	345370860	263	17,000	SH		SOLE		17,000	0	0
FRANKLIN TEMPLETON LTD DUR I	COM	35472t101	202	15,039	SH		SOLE		15,039	0	0
FREQUENCY ELECTRS INC	COM	358010106	107	10,000	SH		SOLE		10,000	0	0
GENERAL ELECTRIC CO	COM	369604103	353	15,237	SH		SOLE		15,237	0	0
GENWORTH FINL INC	COM CL A	37247D106	2,730	239,300	SH		SOLE		239,300	0	0
GOLDMAN SACHS GROUP INC	COM	38141g104	484	3,200	SH		SOLE		3,200	0	0
HEWLETT PACKARD CO	COM	428236103	5,908	238,224	SH		SOLE		238,224	0	0
HIMAX TECHNOLOGIES INC	SPONSORED ADR	43289P106	17,302	3,314,502	SH		SOLE		3,314,502	0	0
IMMERSION CORP	COM	452521107	133	10,000	SH		SOLE		10,000	0	0
INVESCO MUNI INCOME OPP TRST	COM	46132X101	79	12,000	SH		SOLE		12,000	0	0
ISHARES INC	MSCI JAPAN	464286848	47,809	4,261,041	SH		SOLE		4,261,041	0	0
ISHARES TR	HIGH YLD CORP	464288513	265	2,912	SH		SOLE		2,912	0	0
JPMORGAN CHASE & CO	*W EXP 10/28/201	46634E114	1,415	90,710	SH		SOLE		90,710	0	0
LEUCADIA NATL CORP	COM	527288104	656	25,000	SH		SOLE		25,000	0	0
LIBERTY INTERACTIVE CORP	INT COM SER A	53071M104	598	26,000	SH		SOLE		26,000	0	0
LIONBRIDGE TECHNOLOGIES INC	COM	536252109	41	14,082	SH		SOLE		14,082	0	0
LOEWS CORP	COM	540424108	888	20,000	SH		SOLE		20,000	0	0
MAGAL SECURITY SYS LTD	ORD	M6786D104	107	29,613	SH		SOLE		29,613	0	0
MORGAN STANLEY	COM NEW	617446448	22,014	901,100	SH		SOLE		901,100	0	0
NATIONAL BK GREECE S A	ADR PRF SER A	633643507	18,676	1,555,000	SH		SOLE		1,555,000	0	0
NORTHERN TIER ENERGY LP	COM UN REPR PART	665826103	480	20,000	SH		SOLE		20,000	0	0
PANHANDLE OIL AND GAS INC	CL A	698477106	1,915	67,200	SH		SOLE		67,200	0	0
PHILLIPS 66	COM	718546104	1,667	28,294	SH		SOLE		28,294	0	0
PHOENIX COS INC NEW	COM NEW	71902e604	860	20,000	SH		SOLE		20,000	0	0
PIMCO ETF TR	INTER MUN BD ST	72201R866	363	7,007	SH		SOLE		7,007	0	0
PIONEER NAT RES CO	COM	723787107	1,448	10,000	SH		SOLE		10,000	0	0
POWERSHARES QQQ TRUST	UNIT SER 1	73935A104	12,446	174,700	SH	Put	SOLE		174,700	0	0
POWERSHS DB US DOLLAR INDEX	DOLL INDX BULL	73936d107	226	10,000	SH		SOLE		10,000	0	0
PROSHARES TR	PSHS SHTRUSS2000	74347R826	1,849	89,636	SH		SOLE		89,636	0	0
PUTNAM MUN OPPORTUNITIES TR	SH BEN INT	746922103	167	14,499	SH		SOLE		14,499	0	0
RESOLUTE FST PRODS INC	COM	76117W109	790	60,000	SH		SOLE		60,000	0	0
RESOURCE CAP CORP	COM	76120W302	66	10,781	SH		SOLE		10,781	0	0
ROYAL BK SCOTLAND GROUP PLC	ADR PREF SHS R	780097747	2,623	126,910	SH		SOLE		126,910	0	0
ROYAL BK SCOTLAND GROUP PLC	ADR PFD SER P	780097762	276	13,136	SH		SOLE		13,136	0	0
ROYAL BK SCOTLAND GROUP PLC	ADR PREF SER N	780097770	550	26,133	SH		SOLE		26,133	0	0
SANOFI	RIGHT 12/31/2020	80105n113	30,736	16,176,843	SH		SOLE		16,176,843	0	0
SPDR INDEX SHS FDS	S&P INTL SMLCP	78463x871	232	8,046	SH		SOLE		8,046	0	0
TENET HEALTHCARE CORP	COM NEW	88033G407	369	8,000	SH		SOLE		8,000	0	0
TESSERA TECHNOLOGIES INC	COM	88164L100	333	16,000	SH		SOLE		16,000	0	0
TUESDAY MORNING CORP	COM NEW	899035505	104	10,000	SH		SOLE		10,000	0	0
TURQUOISE HILL RES LTD	COM	900435108	9,983	1,683,532	SH		SOLE		1,683,532	0	0
VANGUARD INDEX FDS	REIT ETF	922908553	286	4,165	SH		SOLE		4,165	0	0
VANGUARD INDEX FDS	LARGE CAP ETF	922908637	1,555	21,177	SH		SOLE		21,177	0	0
VANGUARD INDEX FDS	SMALL CP ETF	922908751	389	4,147	SH		SOLE		4,147	0	0
VANGUARD INDEX FDS	TOTAL STK MKT	922908769	2,407	29,120	SH		SOLE		29,120	0	0
VANGUARD INTL EQUITY INDEX F	ALLWRLD EX US	922042775	2,744	62,044	SH		SOLE		62,044	0	0