Platinum Hybrid Long-Short: September review - equity and debt with a separate short-futures book
Key takeaway
Cash equity is 65.11% of NAV, down 1.04 percentage points from 31 August 2026. The ten largest company holdings account for 25.35% of NAV.
Cash equity65.11%
Top-ten cash equity25.35%
Cash-equity rows56
AI Brief
What changed
Cash equity is 65.11% of NAV, down 1.04 percentage points from 31 August 2026. The ten largest company holdings account for 25.35% of NAV.
Why it matters
The funded mix combines 65.11% cash equity with 26.95% debt. Short futures are significant relative to the equity book, but options with undisclosed notionals prevent a reliable all-in net market-exposure estimate.
What to watch
Watch debt maturity and credit quality alongside equity concentration and the size of the futures hedges. A lower net futures total alone does not establish a low-risk portfolio.
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 65.11%
The funded mix combines 65.11% cash equity with 26.95% debt. Short futures are significant relative to the equity book, but options with undisclosed notionals prevent a reliable all-in net market-exposure estimate.
Explore the evidencePORTFOLIO ALLOCATION
Latest allocation & changes
Latest disclosed figures. A comparable previous disclosure is not available.
- Listed equity
- 65.11%
- Debt securities
- 26.95%
- Money market
- 6.04%
- Cash and net current assets
- 1.90%
Derivative positioning
- Long derivativesFutures reported %
- 3.11%
- Short derivativesFutures reported %
- 23.89%
- Futures · signed totalFutures reported %
- -20.77%
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
Platinum Hybrid Long-Short · 30 Sept 2026
Portfolio sleeves
Listed equitylong
56 disclosed lines
Scroll inside the table to inspect all rows. The page layout stays fixed.
| # | Security / ISIN | Sector / bucket | Weight (% NAV) | Exposure (% NAV) |
|---|---|---|---|---|
| 01 | ICICI Bank Ltd.INE090A01021 · long | Banks | 3.89% | 3.89% |
| 02 | HDFC Bank Ltd.INE040A01034 · long | Banks | 3.13% | 3.13% |
| 03 | Reliance Industries Ltd.INE002A01018 · long | Petroleum Products | 3.03% | 3.03% |
| 04 | Tata Steel Ltd.INE081A01020 · long | Ferrous Metals | 2.87% | 2.87% |
| 05 | Tech Mahindra Ltd.INE669C01036 · long | IT - Software | 2.47% | 2.47% |
| 06 | Bajaj Finance Ltd.INE296A01032 · long | Finance | 2.33% | 2.33% |
| 07 | Ultratech Cement Ltd.INE481G01011 · long | Cement & Cement Products | 1.92% | 1.92% |
| 08 | Maruti Suzuki India Ltd.INE585B01010 · long | Automobiles | 1.91% | 1.91% |
| 09 | State Bank of IndiaINE062A01020 · long | Banks | 1.90% | 1.90% |
| 10 | Shriram Finance Ltd.INE721A01047 · long | Finance | 1.89% | 1.89% |
| 11 | JSW Steel Ltd.INE019A01038 · long | Ferrous Metals | 1.89% | 1.89% |
| 12 | Tata Motors Passenger Vehicles Ltd.INE155A01022 · long | Automobiles | 1.82% | 1.82% |
| 13 | Bharat Electronics Ltd.INE263A01024 · long | Aerospace & Defense | 1.78% | 1.78% |
| 14 | Cipla Ltd.INE059A01026 · long | Pharmaceuticals & Biotechnology | 1.77% | 1.77% |
| 15 | Hindalco Industries Ltd.INE038A01020 · long | Non - Ferrous Metals | 1.76% | 1.76% |
| 16 | Axis Bank Ltd.INE238A01034 · long | Banks | 1.75% | 1.75% |
| 17 | Sun Pharmaceutical Industries Ltd.INE044A01036 · long | Pharmaceuticals & Biotechnology | 1.72% | 1.72% |
| 18 | Asian Paints Ltd.INE021A01026 · long | Consumer Durables | 1.71% | 1.71% |
| 19 | Hindustan Unilever Ltd.INE030A01027 · long | Diversified FMCG | 1.70% | 1.70% |
| 20 | Interglobe Aviation Ltd.INE646L01027 · long | Transport Services | 1.69% | 1.69% |
| 21 | Apollo Hospitals Enterprise Ltd.INE437A01024 · long | Healthcare Services | 1.64% | 1.64% |
| 22 | Bharti Airtel Ltd.INE397D01024 · long | Telecom - Services | 1.60% | 1.60% |
| 23 | Bajaj Auto Ltd.INE917I01010 · long | Automobiles | 1.59% | 1.59% |
| 24 | Tata Consumer Products Ltd.INE192A01025 · long | Agricultural Food & other Products | 1.56% | 1.56% |
| 25 | Grasim Industries Ltd.INE047A01021 · long | Cement & Cement Products | 1.55% | 1.55% |
| 26 | Titan Company Ltd.INE280A01028 · long | Consumer Durables | 1.48% | 1.48% |
| 27 | SBI Life Insurance Co. Ltd.INE123W01016 · long | Insurance | 1.44% | 1.44% |
| 28 | Varun Beverages Ltd.INE200M01039 · long | Beverages | 1.37% | 1.37% |
| 29 | Eternal Ltd.INE758T01015 · long | Retailing | 1.19% | 1.19% |
| 30 | Hindustan Aeronautics Ltd.INE066F01020 · long | Aerospace & Defense | 0.94% | 0.94% |
| 31 | Adani Ports and Special Economic Zone Ltd.INE742F01042 · long | Transport Infrastructure | 0.78% | 0.78% |
| 32 | Billionbrains Garage Ventures Ltd.INE0HOQ01053 · long | Capital Markets | 0.73% | 0.73% |
| 33 | Godrej Consumer Products Ltd.INE102D01028 · long | Personal Products | 0.71% | 0.71% |
| 34 | Divi's Laboratories Ltd.INE361B01024 · long | Pharmaceuticals & Biotechnology | 0.65% | 0.65% |
| 35 | Infosys Ltd.INE009A01021 · long | IT - Software | 0.56% | 0.56% |
| 36 | Aditya Birla Capital Ltd.INE674K01013 · long | Finance | 0.55% | 0.55% |
| 37 | Vodafone Idea Ltd.INE669E01016 · long | Telecom - Services | 0.48% | 0.48% |
| 38 | Yes Bank Ltd.INE528G01035 · long | Banks | 0.47% | 0.47% |
| 39 | Jio Financial Services Ltd.INE758E01017 · long | Finance | 0.42% | 0.42% |
| 40 | Crompton Greaves Consumer Electricals Ltd.INE299U01018 · long | Consumer Durables | 0.40% | 0.40% |
| 41 | Vedanta Ltd.INE205A01025 · long | Diversified Metals | 0.27% | 0.27% |
| 42 | Voltas Ltd.INE226A01021 · long | Consumer Durables | 0.25% | 0.25% |
| 43 | Larsen & Toubro Ltd.INE018A01030 · long | Construction | 0.24% | 0.24% |
| 44 | Avenue Supermarts Ltd.INE192R01011 · long | Retailing | 0.24% | 0.24% |
| 45 | Vedanta Aluminium Metal Ltd.INE1CDF01017 · long | Non - Ferrous Metals | 0.20% | 0.20% |
| 46 | LIC Housing Finance Ltd.INE115A01026 · long | Finance | 0.18% | 0.18% |
| 47 | Cummins India Ltd.INE298A01020 · long | Industrial Products | 0.15% | 0.15% |
| 48 | GE Vernova T&D India Ltd.INE200A01026 · long | Electrical Equipment | 0.12% | 0.12% |
| 49 | Bajaj Finserv Ltd.INE918I01026 · long | Finance | 0.12% | 0.12% |
| 50 | Swiggy Ltd.INE00H001014 · long | Retailing | 0.12% | 0.12% |
| 51 | Punjab National BankINE160A01022 · long | Banks | 0.05% | 0.05% |
| 52 | Trent Ltd.INE849A01020 · long | Retailing | 0.05% | 0.05% |
| 53 | Ambuja Cements Ltd.INE079A01024 · long | Cement & Cement Products | 0.03% | 0.03% |
| 54 | NHPC Ltd.INE848E01016 · long | Power | 0.03% | 0.03% |
| 55 | Angel One Ltd.INE732I01021 · long | Capital Markets | 0.02% | 0.02% |
| 56 | Bharat Petroleum Corporation Ltd.INE029A01011 · long | Petroleum Products | 0.02% | 0.02% |
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 65.11%; Debt securities 26.95%; Money market 6.04%; Cash and net current assets 1.90%. Values are the separate reported percentages of NAV.
- 56 positive common-company equity lines; top ten 25.35% of NAV. Largest holdings: ICICI Bank Ltd. (3.89%); HDFC Bank Ltd. (3.13%); Reliance Industries Ltd. (3.03%).
- Largest classified equity sectors: Banks 11.20% of NAV; Finance 5.50% of NAV; Automobiles 5.32% of NAV.
Changes in company holdings
- Cash-equity comparison: 31 August 2026 to 30 September 2026. Common-equity weight moved from 66.16% to 65.11% (reduced by 1.04 percentage points).
- Newly present in the common-equity snapshot: 14 companies. Largest disclosed weights: Maruti Suzuki India Ltd. (1.91%); State Bank of India (1.90%); JSW Steel Ltd. (1.89%).
- No longer present in the common-equity snapshot: 17 companies. Largest disclosed weights: Nestle India Ltd. (2.17% previously); Max Healthcare Institute Ltd. (1.54% previously); Steel Authority of India Ltd. (1.41% previously).
- ICICI Bank Ltd.: 2.07% to 3.89% of NAV (up 1.82 percentage points).
- Larsen & Toubro Ltd.: 1.97% to 0.24% of NAV (down 1.73 percentage points).
- Varun Beverages Ltd.: 0.17% to 1.37% of NAV (up 1.21 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 3.11% of NAV and short positions 23.89% in absolute magnitude; signed balance -20.77%. These are source-reported futures percentages, not delta-adjusted exposure for the whole fund.
- Options: 57 disclosed lines, with 57 missing value percentages; no complete option total is inferred. Reported option values are not verified underlying notionals or delta-adjusted exposures.
- Explicit source classifications: 65 hedging lines, 33 non hedging lines. These labels do not quantify hedge effectiveness or establish the reason for every position.
SIFprime reading and what to watch
- The funded mix combines 65.11% cash equity with 26.95% debt. Short futures are significant relative to the equity book, but options with undisclosed notionals prevent a reliable all-in net market-exposure estimate.
- Watch debt maturity and credit quality alongside equity concentration and the size of the futures hedges. A lower net futures total alone does not establish a low-risk portfolio.
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.
- 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
SourceMirae Asset Mutual Fund website
platinumsif.miraeassetmf.co.in
Mirae Asset 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.