DynaSIF Active Asset Allocator: September review - trust units and debt lead the multi-asset mix
Cash equity is 15.84% of NAV, up 2.74 percentage points from 31 July 2026. The ten largest company holdings account for 11.07% of NAV.
AI Brief
What changed
Cash equity is 15.84% of NAV, up 2.74 percentage points from 31 July 2026. The ten largest company holdings account for 11.07% of NAV.
Why it matters
After separating REIT and InvIT units from ordinary company shares, listed units are 36.11% of NAV, debt 27.95% and common equity 15.84%. Commodity holdings and futures add another source of risk, making a stock-only reading incomplete.
What to watch
Watch property and infrastructure trust concentration, debt maturity and the commodity positions. Keep physical silver, commodity futures and ordinary company equity as separate measures.
What remains uncertain
Cash-equity comparison only; the broader disclosure scopes differ. Changes are not confirmed trades. Option values and derivative notionals are separate from asset allocation.
Generated by Codex source-reviewed editorial research from this article and its evidence · 11 Oct 2026
SIFprime View
REITs, InvITs and other listed units leads at 36.11%
After separating REIT and InvIT units from ordinary company shares, listed units are 36.11% of NAV, debt 27.95% and common equity 15.84%. Commodity holdings and futures add another source of risk, making a stock-only reading incomplete.
Explore the evidencePORTFOLIO ALLOCATION
Latest allocation & changes
Latest disclosed figures. A comparable previous disclosure is not available.
- Listed equity
- 15.84%
- Debt securities
- 27.95%
- Money market
- 11.14%
- Cash and net current assets
- 2.96%
- REITs, InvITs and other listed units
- 36.11%
- Other assets
- 3.23%
Derivative positioning
- Long derivativesFutures reported %
- 6.94%
- Futures · signed totalFutures reported %
- 2.99%
- Options · signed totalOptions valuation %
- -0.26%
Explore the disclosed holdings
DynaSIF Active Asset Allocator · 30 Sept 2026
Portfolio sleeves
20 disclosed lines
Scroll inside the table to inspect all rows. The page layout stays fixed.
| # | Security / ISIN | Sector / bucket | Weight (% NAV) | Exposure (% NAV) |
|---|---|---|---|---|
| 01 | Bharti Airtel LimitedINE397D01024 · long | Telecom - Services | 2.36% | 2.36% |
| 02 | Mahindra & Mahindra LimitedINE101A01026 · long | Automobiles | 1.37% | 1.37% |
| 03 | The Indian Hotels Company LimitedINE053A01029 · long | Leisure Services | 1.31% | 1.31% |
| 04 | Kotak Mahindra Bank LimitedINE237A01036 · long | Banks | 1.02% | 1.02% |
| 05 | Axis Bank LimitedINE238A01034 · long | Banks | 1.02% | 1.02% |
| 06 | One 97 Communications LimitedINE982J01020 · long | Financial Technology (Fintech) | 0.85% | 0.85% |
| 07 | Varun Beverages LimitedINE200M01039 · long | Beverages | 0.83% | 0.83% |
| 08 | Reliance Industries LimitedINE002A01018 · long | Petroleum Products | 0.82% | 0.82% |
| 09 | Maruti Suzuki India LimitedINE585B01010 · long | Automobiles | 0.78% | 0.78% |
| 10 | Adani Ports and Special Economic Zone LimitedINE742F01042 · long | Transport Infrastructure | 0.72% | 0.72% |
| 11 | Eternal LimitedINE758T01015 · long | Retailing | 0.71% | 0.71% |
| 12 | Adani Energy Solutions LimitedINE931S01010 · long | Power | 0.71% | 0.71% |
| 13 | FSN E-Commerce Ventures LimitedINE388Y01029 · long | Retailing | 0.70% | 0.70% |
| 14 | Computer Age Management Services LimitedINE596I01020 · long | Capital Markets | 0.57% | 0.57% |
| 15 | Cholamandalam Investment and Finance Company LtdINE121A01024 · long | Finance | 0.43% | 0.43% |
| 16 | Grasim Industries LimitedINE047A01021 · long | Cement & Cement Products | 0.41% | 0.41% |
| 17 | Bajaj Finance LimitedINE296A01032 · long | Finance | 0.38% | 0.38% |
| 18 | Tata Consultancy Services LimitedINE467B01029 · long | IT - Software | 0.38% | 0.38% |
| 19 | Trent LimitedINE849A01020 · long | Retailing | 0.31% | 0.31% |
| 20 | Cummins India LimitedINE298A01020 · long | Industrial Products | 0.18% | 0.18% |
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
- Common-company cash equity 15.84%; Debt securities 27.95%; Money market 11.14%; Cash and net current assets 2.96%; REITs, InvITs and other listed units 36.11%; Other funded assets 3.23%. Values are the separate reported percentages of NAV.
- 20 positive common-company equity lines; top ten 11.07% of NAV. Largest holdings: Bharti Airtel Limited (2.36%); Mahindra & Mahindra Limited (1.37%); The Indian Hotels Company Limited (1.31%).
- Largest classified equity sectors: Telecom - Services 2.36% of NAV; Automobiles 2.15% of NAV; Banks 2.03% of NAV.
- This research separates 18.58% of NAV in trust units from the imported equity bucket. Original source rows are retained; company changes and concentration exclude these units.
Changes in company holdings
- Cash-equity comparison: 31 July 2026 to 30 September 2026. Common-equity weight moved from 13.10% to 15.84% (increased by 2.74 percentage points).
- Newly present in the common-equity snapshot: 6 companies. Largest disclosed weights: Kotak Mahindra Bank Limited (1.02%); One 97 Communications Limited (0.85%); Varun Beverages Limited (0.83%).
- Bharti Airtel Limited: 1.56% to 2.36% of NAV (up 0.80 percentage points).
- Axis Bank Limited: 0.29% to 1.02% of NAV (up 0.73 percentage points).
- Computer Age Management Services Limited: 1.19% to 0.57% of NAV (down 0.62 percentage points).
- These company comparisons use the dated cash-equity rows only. Differences in the broader capture, particularly derivatives, prevent a like-for-like automated whole-portfolio comparison.
Derivatives, measured separately
- Futures: long positions total 6.94% of NAV and short positions 3.95% in absolute magnitude; signed balance +2.99%. These are source-reported futures percentages, not delta-adjusted exposure for the whole fund.
- Options: 19 disclosed lines; their signed reported value percentages sum to -0.26% of NAV. Reported option values are not verified underlying notionals or delta-adjusted exposures.
- Explicit source classifications: 21 hedging lines, 3 non hedging lines. These labels do not quantify hedge effectiveness or establish the reason for every position.
SIFprime reading and what to watch
- After separating REIT and InvIT units from ordinary company shares, listed units are 36.11% of NAV, debt 27.95% and common equity 15.84%. Commodity holdings and futures add another source of risk, making a stock-only reading incomplete.
- Watch property and infrastructure trust concentration, debt maturity and the commodity positions. Keep physical silver, commodity futures and ordinary company equity as separate measures.
Dates and evidence limits
- Holdings are as of 30 September 2026; research prepared on 11 October 2026. The preparation date is not asserted to be the AMC publication date.
- Snapshot differences can reflect transactions, market prices, corporate actions and investor flows. They do not identify trade dates, returns or the manager's intent.
- Funded assets, futures percentages, option values and swap notionals use different measures. They are not added into a single gross or net exposure figure.
- The source puts a Gold heading above a SILVER instrument. The instrument row controls: physical silver is retained separately. Rounded commodity and net-receivable percentages are preserved, including their difference from value/NAV calculations.
- Misaligned instrument codes in the workbook are not used to match companies. The comparison uses security ISINs; trust units and preference shares are excluded from common-company equity.
- Incomplete option notional coverage remains flagged in the captured data. A complete list of source rows does not imply a complete measure of economic exposure.
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.