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
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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	773	108,100	SH		SOLE		108,100	0	0
ACACIA RESH CORP	ACACIA TCH COM	003881307	356	24,465	SH		SOLE		24,465	0	0
ALPS ETF TR	JEFF TRJ CRB GLO	00162Q304	568	12,943	SH		SOLE		12,943	0	0
AMERICAN INTL GROUP INC	*W EXP 01/19/202	026874156	3,910	193,062	SH		SOLE		193,062	0	0
AMERICAN INTL GROUP INC	COM NEW	026874784	64,803	1,269,400	SH		SOLE		1,269,400	0	0
BANCROFT FUND LTD	COM	059695106	495	26,611	SH		SOLE		26,611	0	0
BANK OF AMERICA CORPORATION	COM	060505104	10,673	685,466	SH		SOLE		685,466	0	0
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	3,736	21	SH		SOLE		21	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	68,415	577,050	SH		SOLE		577,050	0	0
BGC PARTNERS INC	CL A	05541T101	139	23,000	SH		SOLE		23,000	0	0
BLACKROCK MUNIASSETS FD INC	COM	09254J102	139	12,027	SH		SOLE		12,027	0	0
BLACKROCK MUNIHLDNGS QLTY II	COM	09254C107	277	22,894	SH		SOLE		22,894	0	0
BLACKROCK MUNIHOLDNGS QLTY I	COM	09254A101	146	12,336	SH		SOLE		12,336	0	0
BLACKROCK MUNIYIELD CALIF FD	COM	09254M105	182	13,212	SH		SOLE		13,212	0	0
BOEING CO	COM	097023105	232	1,700	SH		SOLE		1,700	0	0
CITIGROUP INC	COM NEW	172967424	37,042	710,835	SH		SOLE		710,835	0	0
DEUTSCHE BK AG LONDON BRH	3X INV JAP GOV	25154P188	1,461	83,000	SH		SOLE		83,000	0	0
EATON VANCE NATL MUN OPPORT	COM SHS	27829L105	367	19,859	SH		SOLE		19,859	0	0
ELLSWORTH FUND LTD	COM	289074106	732	89,348	SH		SOLE		89,348	0	0
FRANKLIN TEMPLETON LTD DUR I	COM	35472t101	202	15,561	SH		SOLE		15,561	0	0
FREQUENCY ELECTRS INC	COM	358010106	117	10,000	SH		SOLE		10,000	0	0
INVESCO MUNI INCOME OPP TRST	COM	46132X101	143	23,108	SH		SOLE		23,108	0	0
JPMORGAN CHASE & CO	*W EXP 10/28/201	46634E114	1,759	90,710	SH		SOLE		90,710	0	0
KID BRANDS INC	COM	49375T100	23	23,000	SH		SOLE		23,000	0	0
LEUCADIA NATL CORP	COM	527288104	713	25,156	SH		SOLE		25,156	0	0
LIONBRIDGE TECHNOLOGIES INC	COM	536252109	84	14,082	SH		SOLE		14,082	0	0
LOEWS CORP	COM	540424108	965	20,000	SH		SOLE		20,000	0	0
MICRON TECHNOLOGY INC	COM	595112103	43,500	2,000,000	SH		SOLE		2,000,000	0	0
MORGAN STANLEY	COM NEW	617446448	14,068	448,600	SH		SOLE		448,600	0	0
MVC CAPITAL INC	COM	553829102	270	20,000	SH		SOLE		20,000	0	0
NATIONAL BK GREECE S A	ADR PRF SER A	633643507	21,787	1,530,000	SH		SOLE		1,530,000	0	0
NORTHERN TIER ENERGY LP	COM UN REPR PART	665826103	492	20,000	SH		SOLE		20,000	0	0
OCH ZIFF CAP MGMT GROUP	CL A	67551U105	192	13,000	SH		SOLE		13,000	0	0
PANHANDLE OIL AND GAS INC	CL A	698477106	2,245	67,200	SH		SOLE		67,200	0	0
PIMCO ETF TR	INTER MUN BD ST	72201R866	212	4,102	SH		SOLE		4,102	0	0
POWERSHARES QQQ TRUST	UNIT SER 1	73935A104	18,032	205,000	SH	Put	SOLE		205,000	0	0
PUTNAM MUN OPPORTUNITIES TR	SH BEN INT	746922103	342	31,824	SH		SOLE		31,824	0	0
RESOLUTE FST PRODS INC	COM	76117W109	961	60,000	SH		SOLE		60,000	0	0
ROYAL BK SCOTLAND GROUP PLC	ADR PREF SHS R	780097747	2,532	126,910	SH		SOLE		126,910	0	0
ROYAL BK SCOTLAND GROUP PLC	ADR PFD SER P	780097762	266	13,136	SH		SOLE		13,136	0	0
ROYAL BK SCOTLAND GROUP PLC	ADR PREF SER N	780097770	535	26,133	SH		SOLE		26,133	0	0
SPDR INDEX SHS FDS	S&P INTL SMLCP	78463x871	236	7,029	SH		SOLE		7,029	0	0
TURQUOISE HILL RES LTD	COM	900435108	17,815	5,398,634	SH		SOLE		5,398,634	0	0
TURQUOISE HILL RES LTD	RIGHT 01/07/2014	900435116	4,496	4,683,634	SH		SOLE		4,683,634	0	0
VANGUARD INDEX FDS	REIT ETF	922908553	273	4,233	SH		SOLE		4,233	0	0
VANGUARD INDEX FDS	LARGE CAP ETF	922908637	1,601	18,878	SH		SOLE		18,878	0	0
VANGUARD INDEX FDS	SMALL CP ETF	922908751	414	3,765	SH		SOLE		3,765	0	0
VANGUARD INDEX FDS	TOTAL STK MKT	922908769	3,288	34,279	SH		SOLE		34,279	0	0
VANGUARD INTL EQUITY INDEX F	TT WRLD ST ETF	922042742	216	3,644	SH		SOLE		3,644	0	0
VANGUARD INTL EQUITY INDEX F	ALLWRLD EX US	922042775	3,731	73,537	SH		SOLE		73,537	0	0
VANGUARD SPECIALIZED PORTFOL	DIV APP ETF	921908844	203	2,696	SH		SOLE		2,696	0	0
WESTERN ASSET MUN HI INCM FD	COM	95766N103	75	11,101	SH		SOLE		11,101	0	0