qSIF Ex-Top 100 Long-Short: September review - lower equity weight, concentrated leading holdings
Cash equity is 67.00% of NAV, down 10.84 percentage points from 31 July 2026. The ten largest company holdings account for 46.91% of NAV.
AI Brief
What changed
Cash equity is 67.00% of NAV, down 10.84 percentage points from 31 July 2026. The ten largest company holdings account for 46.91% of NAV.
Why it matters
Cash-equity weight is lower than in July, but the ten largest holdings still account for 46.91% of NAV. Long futures exceed short futures on the reported percentage basis, so the lower cash-equity total alone does not establish a proportionate reduction in market sensitivity.
What to watch
Watch the largest company weights, pharmaceutical allocation and the long-futures overlay together. Distinguish a lower funded stock weight from lower total economic exposure.
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
Listed equity leads at 67.00%
Cash-equity weight is lower than in July, but the ten largest holdings still account for 46.91% of NAV. Long futures exceed short futures on the reported percentage basis, so the lower cash-equity total alone does not establish a proportionate reduction in market sensitivity.
Explore the evidencePORTFOLIO ALLOCATION
Latest allocation & changes
Latest disclosed figures. A comparable previous disclosure is not available.
- Listed equity
- 67.00%
- Money market
- 33.90%
- Cash and net current assets
- -0.90%
Derivative positioning
- Long derivativesFutures reported %
- 14.41%
- Short derivativesFutures reported %
- 7.11%
- Futures · signed totalFutures reported %
- 7.30%
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
qSIF Ex-Top 100 Long-Short · 30 Sept 2026
Portfolio sleeves
27 disclosed lines
Scroll inside the table to inspect all rows. The page layout stays fixed.
| # | Security / ISIN | Sector / bucket | Weight (% NAV) | Exposure (% NAV) |
|---|---|---|---|---|
| 01 | Indus Towers LimitedINE121J01017 · long | Telecom - Services | 9.21% | 9.21% |
| 02 | Gujarat Themis Biosyn LtdINE942C01045 · long | Pharmaceuticals & Biotechnology | 5.24% | 5.24% |
| 03 | National Stock Exchange of India LimitedINE721I01024 · long | N.A. | 4.89% | 4.89% |
| 04 | Zydus Lifesciences LimitedINE010B01027 · long | Pharmaceuticals & Biotechnology | 4.34% | 4.34% |
| 05 | LG Electronics India LimitedINE324D01010 · long | Consumer Durables | 4.14% | 4.14% |
| 06 | Piramal Finance LtdINE202B01038 · long | Finance | 3.97% | 3.97% |
| 07 | Glaxosmithkline Pharmaceuticals LtdINE159A01016 · long | Pharmaceuticals & Biotechnology | 3.94% | 3.94% |
| 08 | Indegene LimitedINE065X01017 · long | Healthcare Services | 3.89% | 3.89% |
| 09 | Aequs LtdINE947N01017 · long | Aerospace & Defense | 3.89% | 3.89% |
| 10 | Sona BLW Precision Forgings LimitedINE073K01018 · long | Auto Components | 3.40% | 3.40% |
| 11 | Container Corporation of India LtdINE111A01025 · long | Transport Services | 3.28% | 3.28% |
| 12 | Life Insurance Corporation Of IndiaINE0J1Y01017 · long | Insurance | 2.78% | 2.78% |
| 13 | Colgate-Palmolive (India) LtdINE259A01022 · long | Personal Products | 2.40% | 2.40% |
| 14 | Caliber Mining and Logistics LimitedINE11XY01018 · long | Consumable Fuels | 2.26% | 2.26% |
| 15 | Nippon Life India Asset Management LtdINE298J01013 · long | Capital Markets | 2.00% | 2.00% |
| 16 | INDO-MIM LimitedINE084101034 · long | Industrial Manufacturing | 1.74% | 1.74% |
| 17 | Pfizer LtdINE182A01018 · long | Pharmaceuticals & Biotechnology | 1.35% | 1.35% |
| 18 | Vedanta Oil & Gas LimitedINE704J01044 · long | Oil | 1.14% | 1.14% |
| 19 | Prabha Energy LimitedINE0I0M01023 · long | Oil | 0.98% | 0.98% |
| 20 | Sonata Software LimitedINE269A01021 · long | IT - Software | 0.54% | 0.54% |
| 21 | IRB Infrastructure Developers LimitedINE821I01022 · long | Construction | 0.41% | 0.41% |
| 22 | Afcons Infrastructure LimitedINE101I01011 · long | Construction | 0.34% | 0.34% |
| 23 | PTC India LimitedINE877F01012 · long | Power | 0.30% | 0.30% |
| 24 | Simplex Infrastructures LimitedINE059B01024 · long | Construction | 0.27% | 0.27% |
| 25 | TVS Srichakra LimitedINE421C01016 · long | Auto Components | 0.21% | 0.21% |
| 26 | AWL Agri Business LimitedINE699H01024 · long | Agricultural Food & other Products | 0.07% | 0.07% |
| 27 | Digitide Solutions LimitedINE0U4701011 · long | IT - Services | 0.03% | 0.03% |
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 67.00%; Money market 33.90%; Cash and net current assets -0.90%. Values are the separate reported percentages of NAV.
- 27 positive common-company equity lines; top ten 46.91% of NAV. Largest holdings: Indus Towers Limited (9.21%); Gujarat Themis Biosyn Ltd (5.24%); National Stock Exchange of India Limited (4.89%).
- Largest classified equity sectors: Pharmaceuticals & Biotechnology 14.87% of NAV; Telecom - Services 9.21% 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 July 2026 to 30 September 2026. Common-equity weight moved from 77.84% to 67.00% (reduced by 10.84 percentage points).
- Newly present in the common-equity snapshot: 13 companies. Largest disclosed weights: Gujarat Themis Biosyn Ltd (5.24%); National Stock Exchange of India Limited (4.89%); Zydus Lifesciences Limited (4.34%).
- No longer present in the common-equity snapshot: 17 companies. Largest disclosed weights: Adani Energy Solutions Limited (7.28% previously); 63 moons technologies limited (6.14% previously); JSW Infrastructure Limited (5.24% previously).
- Indus Towers Limited: 4.41% to 9.21% of NAV (up 4.79 percentage points).
- INDO-MIM Limited: 5.73% to 1.74% of NAV (down 4.00 percentage points).
- Caliber Mining and Logistics Limited: 6.25% to 2.26% of NAV (down 3.98 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 14.41% of NAV and short positions 7.11% in absolute magnitude; signed balance +7.30%. These are source-reported futures percentages, not delta-adjusted exposure for the whole fund.
- Explicit source classifications: 7 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 weight is lower than in July, but the ten largest holdings still account for 46.91% of NAV. Long futures exceed short futures on the reported percentage basis, so the lower cash-equity total alone does not establish a proportionate reduction in market sensitivity.
- Watch the largest company weights, pharmaceutical allocation and the long-futures overlay together. Distinguish a lower funded stock weight from lower total economic exposure.
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.
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.