Arudha Hybrid Long-Short: September monthly disclosure confirms the debt-led mix
Key takeaway
The September monthly disclosure confirms the existing 30 September allocation: debt 43.71%, cash equity 38.65%, money market 16.53% and cash 1.11%.
Cash equity38.65%(increased by 0.56 pp)
Top-ten cash equity14.13%(increased by 0.82 pp)
Cash-equity rows63Prior: 62
AI Brief
What changed
The September monthly disclosure confirms the existing 30 September allocation: debt 43.71%, cash equity 38.65%, money market 16.53% and cash 1.11%.
Why it matters
This remains a debt-led hybrid mix with a substantial cash-equity book and separately disclosed futures hedges. The monthly release confirms the existing month-end holdings; it does not signal a fresh allocation change. Credit, maturity and hedge effectiveness remain the useful follow-up checks.
What to watch
Watch debt credit quality and maturity, and how closely the disclosed futures hedges offset the cash-equity book. Swap leg values should not be read as verified gross notional exposure.
What remains uncertain
Disclosure changes are not confirmed trades. Derivative valuation percentages are separate from funded assets and do not establish net market exposure.
Generated by Codex source-reviewed editorial research from this article and its evidence · 9 Oct 2026
OUR READING
SIFprime View
Debt securities leads at 43.71%
This remains a debt-led hybrid mix with a substantial cash-equity book and separately disclosed futures hedges. The monthly release confirms the existing month-end holdings; it does not signal a fresh allocation change. Credit, maturity and hedge effectiveness remain the useful follow-up checks.
Explore the evidencePORTFOLIO ALLOCATION
Latest allocation & changes
Compared with 15 Sept 2026 · pp = percentage points
- Listed equity
- 38.65%(increased by 0.56 pp)
- Debt securities
- 43.71%(reduced by 1.68 pp)
- Money market
- 16.53%(increased by 1.74 pp)
- Cash and net current assets
- 1.11%(reduced by 0.64 pp)
Derivative positioning
- Long derivativesSwap notional %
- 3.15%(reduced by 0.11 pp)
- Futures · signed totalFutures reported %
- -38.80%(reduced by 0.60 pp)
Percentages are compared on the same source basis. These measures can overlap and are not added to capital allocation. Contract or short-stock rotations are not treated as company additions or removals.
Only quantified categories are shown. Missing figures are not zero; changes appear only when both disclosures are comparable.
Explore the disclosed holdings
Arudha Hybrid Long-Short · 30 Sept 2026
Portfolio sleeves
Listed equitylong
63 disclosed lines
Equity movements vs 15 Sept 2026 · Scroll inside the table to inspect all rows. The page layout stays fixed.
| # | Security / ISIN | Sector / bucket | Weight (% NAV) | Exposure (% NAV) |
|---|---|---|---|---|
| 01 | Icici Bank LtdINE090A01021 · long Increased: 1.67% → 2.87% of NAV | Banks | 2.87% | 2.87% |
| 02 | Hdfc Bank Ltd.INE040A01034 · long Reduced: 1.93% → 1.84% of NAV | Banks | 1.84% | 1.84% |
| 03 | State Bank Of IndiaINE062A01020 · long Increased: 1.29% → 1.55% of NAV | Banks | 1.55% | 1.55% |
| 04 | Bharti Airtel Ltd.INE397D01024 · long Reduced: 1.48% → 1.38% of NAV | Telecom - Services | 1.38% | 1.38% |
| 05 | Bajaj Finance Ltd.INE296A01032 · long Reduced: 1.39% → 1.28% of NAV | Finance | 1.28% | 1.28% |
| 06 | Reliance Industries LtdINE002A01018 · long Reduced: 1.26% → 1.17% of NAV | Petroleum Products | 1.17% | 1.17% |
| 07 | Adani Green Energy LtdINE364U01010 · long Reduced: 1.14% → 1.12% of NAV | Power | 1.12% | 1.12% |
| 08 | Axis Bank LtdINE238A01034 · long Reduced: 1.05% → 1.02% of NAV | Banks | 1.02% | 1.02% |
| 09 | Larsen And Toubro LtdINE018A01030 · long Reduced: 1.02% → 0.96% of NAV | Construction | 0.96% | 0.96% |
| 10 | Vodafone Idea Ltd.INE669E01016 · long Reduced: 1.08% → 0.94% of NAV | Telecom - Services | 0.94% | 0.94% |
| 11 | Indusind Bank Ltd.INE095A01012 · long Increased: 0.66% → 0.92% of NAV | Banks | 0.92% | 0.92% |
| 12 | Itc LtdINE154A01025 · long Reduced: 0.93% → 0.92% of NAV | Diversified FMCG | 0.92% | 0.92% |
| 13 | Mahindra And Mahindra LtdINE101A01026 · long Reduced: 0.95% → 0.90% of NAV | Automobiles | 0.90% | 0.90% |
| 14 | Hdfc Life Insurance Company Ltd.INE795G01014 · long Reduced: 0.89% → 0.87% of NAV | Insurance | 0.87% | 0.87% |
| 15 | Titan Company Ltd.INE280A01028 · long Reduced: 0.95% → 0.86% of NAV | Consumer Durables | 0.86% | 0.86% |
| 16 | Jio Financial Services Ltd.INE758E01017 · long Reduced: 0.90% → 0.84% of NAV | Finance | 0.84% | 0.84% |
| 17 | Glenmark Pharmaceuticals Ltd.INE935A01035 · long Increased: 0.58% → 0.83% of NAV | Pharmaceuticals & Biotechnology | 0.83% | 0.83% |
| 18 | Tvs Motor Company LtdINE494B01023 · long Reduced: 0.84% → 0.82% of NAV | Automobiles | 0.82% | 0.82% |
| 19 | Rbl Bank Ltd.INE976G01028 · long Reduced: 0.84% → 0.81% of NAV | Banks | 0.81% | 0.81% |
| 20 | AU Small Finance Bank LtdINE949L01017 · long Reduced: 0.81% → 0.77% of NAV | Banks | 0.77% | 0.77% |
| 21 | Adani Energy Solutions Ltd.INE931S01010 · long Reduced: 0.78% → 0.73% of NAV | Power | 0.73% | 0.73% |
| 22 | Jsw Steel Ltd.INE019A01038 · long Reduced: 0.71% → 0.70% of NAV | Ferrous Metals | 0.70% | 0.70% |
| 23 | Punjab National BankINE160A01022 · long Reduced: 0.72% → 0.69% of NAV | Banks | 0.69% | 0.69% |
| 24 | Sun Pharma Ind LtdINE044A01036 · long Reduced: 0.72% → 0.68% of NAV | Pharmaceuticals & Biotechnology | 0.68% | 0.68% |
| 25 | Hindustan Petroleum Corporation Ltd.INE094A01015 · long Reduced: 0.69% → 0.67% of NAV | Petroleum Products | 0.67% | 0.67% |
| 26 | Interglobe Aviation Ltd.INE646L01027 · long | Transport Services | 0.66% | 0.66% |
| 27 | Canara BankINE476A01022 · long Reduced: 0.65% → 0.61% of NAV | Banks | 0.61% | 0.61% |
| 28 | Divi'S Laboratories Ltd.INE361B01024 · long Reduced: 0.60% → 0.59% of NAV | Pharmaceuticals & Biotechnology | 0.59% | 0.59% |
| 29 | Asian Paints Ltd.INE021A01026 · long Reduced: 0.59% → 0.57% of NAV | Consumer Durables | 0.57% | 0.57% |
| 30 | Bank Of BarodaINE028A01039 · long Reduced: 0.58% → 0.56% of NAV | Banks | 0.56% | 0.56% |
| 31 | Voltas LimitedINE226A01021 · long Reduced: 0.62% → 0.56% of NAV | Consumer Durables | 0.56% | 0.56% |
| 32 | Maruti Suzuki India LtdINE585B01010 · long Reduced: 0.56% → 0.53% of NAV | Automobiles | 0.53% | 0.53% |
| 33 | Grasim Industries Ltd.INE047A01021 · long Entries: Newly disclosed compared with the previous portfolio | Cement & Cement Products | 0.49% | 0.49% |
| 34 | Aditya Birla Capital LtdINE674K01013 · long Reduced: 0.46% → 0.45% of NAV | Finance | 0.45% | 0.45% |
| 35 | Lic Housing Finance LimitedINE115A01026 · long Reduced: 0.46% → 0.44% of NAV | Finance | 0.44% | 0.44% |
| 36 | Indus Towers Ltd.INE121J01017 · long Reduced: 0.46% → 0.44% of NAV | Telecom - Services | 0.44% | 0.44% |
| 37 | Tata Motors Pass Vehicles LtdINE155A01022 · long Reduced: 0.48% → 0.43% of NAV | Automobiles | 0.43% | 0.43% |
| 38 | Delhivery LimitedINE148O01028 · long Reduced: 0.46% → 0.43% of NAV | Transport Services | 0.43% | 0.43% |
| 39 | Ambuja Cements Ltd.INE079A01024 · long Reduced: 0.42% → 0.40% of NAV | Cement & Cement Products | 0.40% | 0.40% |
| 40 | Coforge Ltd.INE591G01025 · long Reduced: 0.39% → 0.37% of NAV | IT - Software | 0.37% | 0.37% |
| 41 | Tata Consumer Products Ltd.INE192A01025 · long Reduced: 0.39% → 0.36% of NAV | Agricultural Food & other Products | 0.36% | 0.36% |
| 42 | Oil & Natural Gas Corporation Ltd.INE213A01029 · long Reduced: 0.38% → 0.35% of NAV | Oil | 0.35% | 0.35% |
| 43 | Bharat Electronics Ltd.INE263A01024 · long Reduced: 0.36% → 0.35% of NAV | Aerospace & Defense | 0.35% | 0.35% |
| 44 | Adani Enterprises Ltd.INE423A01024 · long Reduced: 0.36% → 0.34% of NAV | Metals & Minerals Trading | 0.34% | 0.34% |
| 45 | Hindalco Industries Ltd.INE038A01020 · long Reduced: 0.35% → 0.33% of NAV | Non - Ferrous Metals | 0.33% | 0.33% |
| 46 | United Spirits Ltd.INE854D01024 · long Reduced: 0.32% → 0.31% of NAV | Beverages | 0.31% | 0.31% |
| 47 | Eternal LimitedINE758T01015 · long | Retailing | 0.30% | 0.30% |
| 48 | Coal India Ltd.INE522F01014 · long Entries: Newly disclosed compared with the previous portfolio | Consumable Fuels | 0.29% | 0.29% |
| 49 | Max Financial Service LtdINE180A01020 · long Reduced: 0.30% → 0.28% of NAV | Insurance | 0.28% | 0.28% |
| 50 | Kotak Bank LtdINE237A01036 · long Reduced: 0.27% → 0.26% of NAV | Banks | 0.26% | 0.26% |
| 51 | Hindustan Zinc Ltd.INE267A01025 · long Reduced: 0.27% → 0.26% of NAV | Non - Ferrous Metals | 0.26% | 0.26% |
| 52 | Upl Ltd.INE628A01036 · long Reduced: 0.25% → 0.23% of NAV | Fertilizers & Agrochemicals | 0.23% | 0.23% |
| 53 | Adani Power LtdINE814H01029 · long Reduced: 0.24% → 0.23% of NAV | Power | 0.23% | 0.23% |
| 54 | Suzlon Energy Ltd.INE040H01021 · long Reduced: 0.25% → 0.22% of NAV | Electrical Equipment | 0.22% | 0.22% |
| 55 | Bank Of IndiaINE084A01016 · long Reduced: 0.19% → 0.17% of NAV | Banks | 0.17% | 0.17% |
| 56 | Indian Oil Corporation Ltd.INE242A01010 · long | Petroleum Products | 0.17% | 0.17% |
| 57 | Cholamandalam Investment And Finance ComINE121A01024 · long Reduced: 0.15% → 0.13% of NAV | Finance | 0.13% | 0.13% |
| 58 | Bharat Forge LtdINE465A01025 · long | Auto Components | 0.12% | 0.12% |
| 59 | Indian Hotels Company LimitedINE053A01029 · long | Leisure Services | 0.09% | 0.09% |
| 60 | Bharat Petroleum Corporation LtdINE029A01011 · long | Petroleum Products | 0.08% | 0.08% |
| 61 | Adani Ports And Special Economic Zone LtdINE742F01042 · long | Transport Infrastructure | 0.05% | 0.05% |
| 62 | Godrej Properties Ltd.INE484J01027 · long Reduced: 0.04% → 0.03% of NAV | Realty | 0.03% | 0.03% |
| 63 | Crompton Greaves Consumer Electrical LtdINE299U01018 · long | Consumer Durables | 0.03% | 0.03% |
Exited holdings 1
Present in the previous disclosure, absent from the latest. Excluded from current holdings and sector weights.
| Company | Movement | Previous % NAV |
|---|---|---|
| DLF LimitedINE271C01023 | Exits: 0.46% in the previous disclosure | 0.46% |
Weight and exposure are separate source fields. Source signs are retained; missing values are unavailable, not zero. Derivative weights do not establish total or unhedged exposure.
Portfolio construction
- The monthly workbook added on 9 October contains the same 146 holding lines and reported values as the 30 September fortnightly statement already covered. This is a confirmation, not a new change in portfolio date.
- Debt remains the largest funded allocation at 43.71% of NAV, followed by cash equities at 38.65%. Money market is 16.53% and cash/net current assets 1.11%. Swap leg values are reported separately.
- Largest cash-equity holdings: Icici Bank Ltd (2.87% of NAV); Hdfc Bank Ltd. (1.84% of NAV); State Bank Of India (1.55% of NAV).
What changed in cash equities
- The comparison remains 15 September to 30 September, using the preceding fortnightly disclosure. The new monthly statement is not compared against the same-date fortnightly statement as if a trade occurred.
- Cash equity rose 0.56 percentage points (38.09% to 38.65%); debt fell 1.68 points (45.39% to 43.71%); money market rose 1.74 points (14.79% to 16.53%); cash fell 0.64 points (1.75% to 1.11%).
- Entries: 2 companies. Grasim Industries Ltd. (0.49% of NAV); Coal India Ltd. (0.29% of NAV).
- Exits: 1 company. DLF Limited (0.46% of NAV previously).
- Icici Bank Ltd: 1.67% to 2.87% of NAV (up 1.20 percentage points).
- State Bank Of India: 1.29% to 1.55% of NAV (up 0.26 percentage points).
- Indusind Bank Ltd.: 0.66% to 0.92% of NAV (up 0.26 percentage points).
Derivatives, measured separately
- The signed futures percentage is -38.80% versus -38.20% on 15 September. The source identifies the 63 futures lines as hedging; contract changes are not treated as equity entries and exits.
- The monthly capture retains the two swap legs at reported values of +3.15% and -3.17% of NAV. These values are not a verified measure of gross swap notional or delta-adjusted exposure.
- The presence of matched cash-equity and futures positions may be consistent with hedged equity positioning. It does not establish a risk-free spread or the portfolio's overall sensitivity.
What this means for the strategy
- This remains a debt-led hybrid mix with a substantial cash-equity book and separately disclosed futures hedges. The monthly release confirms the existing month-end holdings; it does not signal a fresh allocation change. Credit, maturity and hedge effectiveness remain the useful follow-up checks.
- Watch debt credit quality and maturity, and how closely the disclosed futures hedges offset the cash-equity book. Swap leg values should not be read as verified gross notional exposure.
Dates and evidence limits
- Holdings are dated 30 September 2026. This research was prepared on 9 October after the monthly disclosures were added to SIFprime.
- Changes between disclosures can reflect transactions, prices and investor flows. They do not establish trade dates, investment returns or the manager's intent.
- Cash-equity company movements are separate from derivative positioning. Futures, option premiums and swap valuations are not added together as one exposure figure.
Sources & methodology
How to read this research
- Analysis uses the captured disclosure. Portfolio dates and the report preparation date are shown separately.
- Cash-equity concentration uses long cash-equity weights. Derivatives are measured separately and are not added to allocation weights.
- Changes compare disclosed snapshots; they do not establish trade timing or manager intent. Interpretation is separate from the disclosed facts.