iSIF Hybrid Long-Short: September review - equity remains central beside debt and derivatives
Key takeaway
Cash equity is 66.33% of NAV, down 1.77 percentage points from 31 August 2026. The ten largest company holdings account for 27.01% of NAV.
Cash equity66.33%
Top-ten cash equity27.01%
Cash-equity rows55
AI Brief
What changed
Cash equity is 66.33% of NAV, down 1.77 percentage points from 31 August 2026. The ten largest company holdings account for 27.01% of NAV.
Why it matters
Cash equity remains the largest allocation at 66.33%, alongside 19.82% debt. Banks and automobiles lead the equity mix, while options and an interest-rate swap require separate interpretation.
What to watch
Watch company concentration, debt maturity and the swap's rate sensitivity. The source's broader listed-equity aggregate includes option values, so it is not interchangeable with the cash-equity total used here.
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
OUR READING
SIFprime View
Listed equity leads at 66.33%
Cash equity remains the largest allocation at 66.33%, alongside 19.82% debt. Banks and automobiles lead the equity mix, while options and an interest-rate swap require separate interpretation.
Explore the evidencePORTFOLIO ALLOCATION
Latest allocation & changes
Latest disclosed figures. A comparable previous disclosure is not available.
- Listed equity
- 66.33%
- Debt securities
- 19.82%
- Money market
- 12.36%
- Cash and net current assets
- -0.03%
Derivative positioning
- Futures · signed totalFutures reported %
- 3.35%
- Options · signed totalOptions valuation %
- 1.52%
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
iSIF Hybrid Long-Short · 30 Sept 2026
Portfolio sleeves
Listed equitylong
55 disclosed lines
Scroll inside the table to inspect all rows. The page layout stays fixed.
| # | Security / ISIN | Sector / bucket | Weight (% NAV) | Exposure (% NAV) |
|---|---|---|---|---|
| 01 | TVS Motor Company Ltd.INE494B01023 · long | Automobiles | 4.82% | 4.82% |
| 02 | HDFC Bank Ltd.INE040A01034 · long | Banks | 2.85% | 2.85% |
| 03 | Maruti Suzuki India Ltd.INE585B01010 · long | Automobiles | 2.68% | 2.68% |
| 04 | ICICI Bank Ltd.INE090A01021 · long | Banks | 2.67% | 2.67% |
| 05 | Shadowfax Technologies LtdINE12UN01015 · long | Transport Services | 2.63% | 2.63% |
| 06 | Axis Bank Ltd.INE238A01034 · long | Banks | 2.53% | 2.53% |
| 07 | Mahindra & Mahindra Ltd.INE101A01026 · long | Automobiles | 2.43% | 2.43% |
| 08 | Interglobe Aviation Ltd.INE646L01027 · long | Transport Services | 2.36% | 2.36% |
| 09 | State Bank Of IndiaINE062A01020 · long | Banks | 2.05% | 2.05% |
| 10 | NTPC Ltd.INE733E01010 · long | Power | 2.00% | 2.00% |
| 11 | Reliance Industries Ltd.INE002A01018 · long | Petroleum Products | 1.90% | 1.90% |
| 12 | Avenue Supermarts Ltd.INE192R01011 · long | Retailing | 1.89% | 1.89% |
| 13 | Life Insurance Corporation of IndiaINE0J1Y01017 · long | Insurance | 1.87% | 1.87% |
| 14 | TML Commercial Vehicles Ltd.INE1TAE01010 · long | Agricultural, Commercial & Construction Vehicles | 1.86% | 1.86% |
| 15 | Eternal Ltd.INE758T01015 · long | Retailing | 1.75% | 1.75% |
| 16 | Kotak Mahindra Bank Ltd.INE237A01036 · long | Banks | 1.47% | 1.47% |
| 17 | HDFC Asset Management Company Ltd.INE127D01025 · long | Capital Markets | 1.34% | 1.34% |
| 18 | Swiggy LtdINE00H001014 · long | Retailing | 1.21% | 1.21% |
| 19 | Tata Steel Ltd.INE081A01020 · long | Ferrous Metals | 1.17% | 1.17% |
| 20 | Angel One Ltd.INE732I01021 · long | Capital Markets | 1.15% | 1.15% |
| 21 | Ultratech Cement Ltd.INE481G01011 · long | Cement & Cement Products | 1.12% | 1.12% |
| 22 | Bajaj Finance Ltd.INE296A01032 · long | Finance | 1.10% | 1.10% |
| 23 | Infosys Ltd.INE009A01021 · long | It - Software | 1.05% | 1.05% |
| 24 | Britannia Industries Ltd.INE216A01030 · long | Food Products | 1.02% | 1.02% |
| 25 | Varun Beverages Ltd.INE200M01039 · long | Beverages | 0.97% | 0.97% |
| 26 | Omnitech Engineering Ltd.INE0UH301010 · long | Industrial Manufacturing | 0.92% | 0.92% |
| 27 | SBI Funds Management Ltd.INE640G01020 · long | Capital Markets | 0.91% | 0.91% |
| 28 | Standard Engineering Technology Ltd.INE0M4D01010 · long | Industrial Manufacturing | 0.89% | 0.89% |
| 29 | Netweb Technologies IndiaINE0NT901020 · long | It - Services | 0.85% | 0.85% |
| 30 | CEAT Ltd.INE482A01020 · long | Auto Components | 0.84% | 0.84% |
| 31 | Jindal Saw Ltd.INE324A01032 · long | Industrial Products | 0.81% | 0.81% |
| 32 | Shriram Finance Ltd.INE721A01047 · long | Finance | 0.80% | 0.80% |
| 33 | 360 One Wam Ltd.INE466L01038 · long | Capital Markets | 0.77% | 0.77% |
| 34 | Sona Blw Precision Forgings Ltd.INE073K01018 · long | Auto Components | 0.76% | 0.76% |
| 35 | Symbiotec Pharmalab Ltd.INE899I01028 · long | Pharmaceuticals & Biotechnology | 0.76% | 0.76% |
| 36 | The Ethos Ltd.INE04TZ01018 · long | Consumer Durables | 0.73% | 0.73% |
| 37 | Indo-Mim Ltd.INE084101034 · long | Industrial Manufacturing | 0.70% | 0.70% |
| 38 | Rolex Rings Ltd.INE645S01024 · long | Auto Components | 0.69% | 0.69% |
| 39 | Red Tape LtdINE0LXT01019 · long | Consumer Durables | 0.68% | 0.68% |
| 40 | Jindal Stainless Ltd.INE220G01021 · long | Ferrous Metals | 0.68% | 0.68% |
| 41 | TD Power Systems Ltd.INE419M01035 · long | Electrical Equipment | 0.68% | 0.68% |
| 42 | Travel Food Services LtdINE103V01028 · long | Leisure Services | 0.66% | 0.66% |
| 43 | Maharashtra Seamless Ltd.INE271B01025 · long | Industrial Products | 0.65% | 0.65% |
| 44 | RR Kabel Ltd.INE777K01022 · long | Industrial Products | 0.65% | 0.65% |
| 45 | Rubicon Research LtdINE506V01022 · long | Pharmaceuticals & Biotechnology | 0.60% | 0.60% |
| 46 | Hindalco Industries Ltd.INE038A01020 · long | Non - Ferrous Metals | 0.48% | 0.48% |
| 47 | Orient Cables (India) Ltd.INE0J1N01028 · long | Telecommunications Equipment | 0.45% | 0.45% |
| 48 | Triveni Turbine Ltd.INE152M01016 · long | Electrical Equipment | 0.44% | 0.44% |
| 49 | Titan Company Ltd.INE280A01028 · long | Consumer Durables | 0.44% | 0.44% |
| 50 | Pg Electroplast Ltd.INE457L01029 · long | Consumer Durables | 0.37% | 0.37% |
| 51 | Samvardhana Motherson International Ltd.INE775A01035 · long | Auto Components | 0.37% | 0.37% |
| 52 | Kusumgar LtdINE0ISX01025 · long | Textiles & Apparels | 0.25% | 0.25% |
| 53 | PB Fintech Ltd.INE417T01026 · long | Financial Technology (Fintech) | 0.23% | 0.23% |
| 54 | Larsen & Toubro Ltd.INE018A01030 · long | Construction | 0.23% | 0.23% |
| 55 | Virtuoso Optoelectronics Ltd.INE0I0T01010 · long | Consumer Durables | 0.16% | 0.16% |
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 66.33%; Debt securities 19.82%; Money market 12.36%; Cash and net current assets -0.03%. Values are the separate reported percentages of NAV.
- 55 positive common-company equity lines; top ten 27.01% of NAV. Largest holdings: TVS Motor Company Ltd. (4.82%); HDFC Bank Ltd. (2.85%); Maruti Suzuki India Ltd. (2.68%).
- Largest classified equity sectors: Banks 11.57% of NAV; Automobiles 9.92% of NAV; Transport Services 4.99% of NAV.
- The negative cash/net-current-assets figure is a net-payable balance, not a negative bank balance or an inferred borrowing amount. Read it with the other source entries.
Changes in company holdings
- Cash-equity comparison: 31 August 2026 to 30 September 2026. Common-equity weight moved from 68.10% to 66.33% (reduced by 1.77 percentage points).
- Newly present in the common-equity snapshot: 6 companies. Largest disclosed weights: Kotak Mahindra Bank Ltd. (1.47%); Omnitech Engineering Ltd. (0.92%); Symbiotec Pharmalab Ltd. (0.76%).
- No longer present in the common-equity snapshot: 3 companies. Largest disclosed weights: One 97 Communications Ltd (0.56% previously); Dixon Technologies (India) Ltd. (0.52% previously); Tech Mahindra Ltd. (0.52% previously).
- TVS Motor Company Ltd.: 3.70% to 4.82% of NAV (up 1.12 percentage points).
- Larsen & Toubro Ltd.: 1.31% to 0.23% of NAV (down 1.08 percentage points).
- Axis Bank Ltd.: 3.43% to 2.53% of NAV (down 0.91 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 3.82% of NAV and short positions 0.46% in absolute magnitude; signed balance +3.35%. These are source-reported futures percentages, not delta-adjusted exposure for the whole fund.
- Options: 9 disclosed lines; their signed reported value percentages sum to +1.52% of NAV. Reported option values are not verified underlying notionals or delta-adjusted exposures.
- The disclosure also includes 1 interest-rate swap line. Reported notional percentages are kept separate from funded assets, futures and option values; valuation signs do not establish a long or short position.
- Explicit source classifications: 3 covered call lines, 1 hedging line, 5 non hedging lines. These labels do not quantify hedge effectiveness or establish the reason for every position.
SIFprime reading and what to watch
- Cash equity remains the largest allocation at 66.33%, alongside 19.82% debt. Banks and automobiles lead the equity mix, while options and an interest-rate swap require separate interpretation.
- Watch company concentration, debt maturity and the swap's rate sensitivity. The source's broader listed-equity aggregate includes option values, so it is not interchangeable with the cash-equity total used here.
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 derivative annexure contains copied March labels. This report follows the dated September main schedule and does not duplicate annexure rows or infer missing option notionals.
- The source's listed-equity aggregate includes option values. Common-equity rows are separated here; the complete source accounting schedule, rather than funded categories alone, reconciles to NAV.
- 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
SourceICICI Prudential Mutual Fund website
isif.icicipruamc.com
ICICI Prudential Mutual Fund
Source date
Visit sourceHow 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.