Summit Equity Long-Short: September review - equity deployment rises sharply from July
Key takeaway
Cash equity is 93.50% of NAV, up 52.44 percentage points from 31 July 2026. The ten largest company holdings account for 33.38% of NAV.
Cash equity93.50%(increased by 52.44 pp)
Top-ten cash equity33.38%(increased by 8.89 pp)
Cash-equity rows52Prior: 24
AI Brief
What changed
Cash equity is 93.50% of NAV, up 52.44 percentage points from 31 July 2026. The ten largest company holdings account for 33.38% of NAV.
Why it matters
The disclosed portfolio has moved from a much smaller July cash-equity book to 93.50% in September. With 52 positive company lines and 33.38% in the top ten, both deployment and the breadth of stock selection have increased.
What to watch
Watch whether the high equity allocation persists and how banks and capital-markets holdings contribute to concentration. A long-short mandate does not prove that a short position is present in every disclosure.
What remains uncertain
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 93.50%
The disclosed portfolio has moved from a much smaller July cash-equity book to 93.50% in September. With 52 positive company lines and 33.38% in the top ten, both deployment and the breadth of stock selection have increased.
Explore the evidencePORTFOLIO ALLOCATION
Latest allocation & changes
Compared with 31 Jul 2026 · pp = percentage points
- Listed equity
- 93.50%(increased by 52.44 pp)
- Money market
- 7.67%(reduced by 48.50 pp)
- Cash and net current assets
- -1.17%(reduced by 3.94 pp)
Only quantified categories are shown. Missing figures are not zero; changes appear only when both disclosures are comparable.
Equity activity
52 companiesLargest weight changes in each group · % of NAV
| Activity | Company | Previous | Latest |
|---|---|---|---|
| Increased18 companies | Eternal Limited | 1.45% | 3.41% |
| InterGlobe Aviation Limited | 1.89% | 3.42% | |
| Reduced6 companies | Indo-MIM Limited |
Explore the disclosed holdings
Summit Equity Long-Short · 30 Sept 2026
Portfolio sleeves
Listed equitylong
52 disclosed lines
Equity movements vs 31 Jul 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 LimitedINE090A01021 · long Increased: 5.74% → 6.12% of NAV | Banks | 6.12% | 6.12% |
| 02 | Bharti Airtel LimitedINE397D01024 · long Increased: 2.48% → 3.90% of NAV | Telecom - Services | 3.90% | 3.90% |
| 03 | Indo-MIM LimitedINE084101034 · long Reduced: 4.05% → 3.48% of NAV | Industrial Manufacturing | 3.48% | 3.48% |
| 04 | InterGlobe Aviation LimitedINE646L01027 · long Increased: 1.89% → 3.42% of NAV | Transport Services | 3.42% | 3.42% |
| 05 | Eternal LimitedINE758T01015 · long Increased: 1.45% → 3.41% of NAV | Retailing | 3.41% | 3.41% |
| 06 | Abbott India LimitedINE358A01014 · long Increased: 1.99% → 2.97% of NAV | Pharmaceuticals & Biotechnology | 2.97% | 2.97% |
| 07 | Cholamandalam Investment and Finance Company LimitedINE121A01024 · long Increased: 1.46% → 2.76% of NAV | Finance | 2.76% | 2.76% |
| 08 | Indian BankINE562A01011 · long Increased: 1.35% → 2.48% of NAV | Banks | 2.48% | 2.48% |
| 09 | Larsen & Toubro LimitedINE018A01030 · long Increased: 1.96% → 2.43% of NAV | Construction | 2.43% | 2.43% |
| 10 | Coforge LimitedINE591G01025 · long Increased: 1.60% → 2.41% of NAV | IT - Software | 2.41% | 2.41% |
| 11 | SBI Life Insurance Company LimitedINE123W01016 · long Entries: Newly disclosed compared with the previous portfolio | Insurance | 2.39% | 2.39% |
| 12 | Dhoot Transmission LtdINE01NH01023 · long Entries: Newly disclosed compared with the previous portfolio | Auto Components | 2.34% | 2.34% |
| 13 | Manipal Health Enterprises LtdINE459N01021 · long Entries: Newly disclosed compared with the previous portfolio | Healthcare Services | 2.30% | 2.30% |
| 14 | Axis Bank LimitedINE238A01034 · long Entries: Newly disclosed compared with the previous portfolio | Banks | 2.30% | 2.30% |
| 15 | Max Financial Services LimitedINE180A01020 · long Entries: Newly disclosed compared with the previous portfolio | Insurance | 2.18% | 2.18% |
| 16 | Trent LimitedINE849A01020 · long Entries: Newly disclosed compared with the previous portfolio | Retailing | 2.10% | 2.10% |
| 17 | Karur Vysya Bank LimitedINE036D01028 · long Increased: 0.91% → 2.03% of NAV | Banks | 2.03% | 2.03% |
| 18 | Persistent Systems LtdINE262H01021 · long Entries: Newly disclosed compared with the previous portfolio | IT - Software | 1.97% | 1.97% |
| 19 | Nuvama Wealth Management LtdINE531F01023 · long Entries: Newly disclosed compared with the previous portfolio | Capital Markets | 1.75% | 1.75% |
| 20 | Jyoti CNC Automation LtdINE980O01024 · long Increased: 0.95% → 1.75% of NAV | Industrial Manufacturing | 1.75% | 1.75% |
| 21 | Computer Age Management Services LimitedINE596I01020 · long Increased: 1.37% → 1.72% of NAV | Capital Markets | 1.72% | 1.72% |
| 22 | KFin Technologies LimitedINE138Y01010 · long Increased: 1.44% → 1.71% of NAV | Capital Markets | 1.71% | 1.71% |
| 23 | 360 One WAM LimitedINE466L01038 · long Increased: 1.35% → 1.68% of NAV | Capital Markets | 1.68% | 1.68% |
| 24 | The Phoenix Mills LimitedINE211B01039 · long Increased: 0.98% → 1.68% of NAV | Realty | 1.68% | 1.68% |
| 25 | Foseco India LimitedINE519A01011 · long Entries: Newly disclosed compared with the previous portfolio | Chemicals & Petrochemicals | 1.52% | 1.52% |
| 26 | Craftsman Automation LimitedINE00LO01017 · long Entries: Newly disclosed compared with the previous portfolio | Auto Components | 1.51% | 1.51% |
| 27 | CCL Products (India) LimitedINE421D01022 · long Entries: Newly disclosed compared with the previous portfolio | Agricultural Food & other Products | 1.47% | 1.47% |
| 28 | Honeywell Automation India LimitedINE671A01010 · long Increased: 1.41% → 1.47% of NAV | Industrial Manufacturing | 1.47% | 1.47% |
| 29 | Prestige Estates Projects LimitedINE811K01011 · long Increased: 1.43% → 1.47% of NAV | Realty | 1.47% | 1.47% |
| 30 | UltraTech Cement LimitedINE481G01011 · long Reduced: 1.85% → 1.46% of NAV | Cement & Cement Products | 1.46% | 1.46% |
| 31 | Dr Agarwals Health Care LimitedINE943P01029 · long Entries: Newly disclosed compared with the previous portfolio | Healthcare Services | 1.45% | 1.45% |
| 32 | Shaily Engineering Plastics LimitedINE151G01028 · long Entries: Newly disclosed compared with the previous portfolio | Consumer Durables | 1.42% | 1.42% |
| 33 | BSE LimitedINE118H01025 · long Reduced: 1.47% → 1.42% of NAV | Capital Markets | 1.42% | 1.42% |
| 34 | Delhivery LimitedINE148O01028 · long Entries: Newly disclosed compared with the previous portfolio | Transport Services | 1.37% | 1.37% |
| 35 | Ingersoll Rand (India) LimitedINE177A01018 · long Increased: 0.58% → 1.34% of NAV | Industrial Products | 1.34% | 1.34% |
| 36 | Max Estates LimitedINE03EI01018 · long Entries: Newly disclosed compared with the previous portfolio | Realty | 1.28% | 1.28% |
| 37 | eClerx Services LimitedINE738I01010 · long Entries: Newly disclosed compared with the previous portfolio | Commercial Services & Supplies | 1.26% | 1.26% |
| 38 | TVS Motor Company LimitedINE494B01023 · long Entries: Newly disclosed compared with the previous portfolio | Automobiles | 1.25% | 1.25% |
| 39 | Mahindra & Mahindra LimitedINE101A01026 · long Reduced: 1.43% → 1.21% of NAV | Automobiles | 1.21% | 1.21% |
| 40 | Bajaj Auto LimitedINE917I01010 · long Entries: Newly disclosed compared with the previous portfolio | Automobiles | 1.20% | 1.20% |
| 41 | Oberoi Realty LimitedINE093I01010 · long Entries: Newly disclosed compared with the previous portfolio | Realty | 1.19% | 1.19% |
| 42 | BEML LimitedINE258A01024 · long Entries: Newly disclosed compared with the previous portfolio | Agricultural, Commercial & Construction Vehicles | 1.19% | 1.19% |
| 43 | Hindustan Aeronautics LimitedINE066F01020 · long Entries: Newly disclosed compared with the previous portfolio | Aerospace & Defense | 1.19% | 1.19% |
| 44 | Firstsource Solutions LimitedINE684F01012 · long Entries: Newly disclosed compared with the previous portfolio | Commercial Services & Supplies | 1.18% | 1.18% |
| 45 | Chalet Hotels LimitedINE427F01016 · long Entries: Newly disclosed compared with the previous portfolio | Leisure Services | 1.17% | 1.17% |
| 46 | Amber Enterprises India LimitedINE371P01015 · long Entries: Newly disclosed compared with the previous portfolio | Consumer Durables | 1.16% | 1.16% |
| 47 | Multi Commodity Exchange of India LimitedINE745G01043 · long Reduced: 1.44% → 1.04% of NAV | Capital Markets | 1.04% | 1.04% |
| 48 | Gaja Alternative Asset Management LtdINE18UN01038 · long Entries: Newly disclosed compared with the previous portfolio | Capital Markets | 1.00% | 1.00% |
| 49 | Sonata Software LimitedINE269A01021 · long Entries: Newly disclosed compared with the previous portfolio | IT - Software | 0.55% | 0.55% |
| 50 | Wework India Management LimitedINE085001019 · long Reduced: 0.48% → 0.23% of NAV | Commercial Services & Supplies | 0.23% | 0.23% |
| 51 | Milky Mist Dairy Food LimitedINE00IT01020 · long Entries: Newly disclosed compared with the previous portfolio | Food Products | 0.13% | 0.13% |
| 52 | Rentomojo LimitedINE08T701025 · long Entries: Newly disclosed compared with the previous portfolio | Commercial Services & Supplies | 0.09% | 0.09% |
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 93.50%; Money market 7.67%; Cash and net current assets -1.17%. Values are the separate reported percentages of NAV.
- 52 positive common-company equity lines; top ten 33.38% of NAV. Largest holdings: ICICI Bank Limited (6.12%); Bharti Airtel Limited (3.90%); Indo-MIM Limited (3.48%).
- Largest classified equity sectors: Banks 12.93% of NAV; Capital Markets 10.32% of NAV; Industrial Manufacturing 6.70% 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 41.06% to 93.50% (increased by 52.44 percentage points).
- Newly present in the common-equity snapshot: 28 companies. Largest disclosed weights: SBI Life Insurance Company Limited (2.39%); Dhoot Transmission Ltd (2.34%); Axis Bank Limited (2.30%).
- Eternal Limited: 1.45% to 3.41% of NAV (up 1.96 percentage points).
- InterGlobe Aviation Limited: 1.89% to 3.42% of NAV (up 1.53 percentage points).
- Bharti Airtel Limited: 2.48% to 3.90% of NAV (up 1.42 percentage points).
Derivatives, measured separately
- No separate derivative position is captured in this dated portfolio. This is not a statement that the fund never uses derivatives or that its mandate has changed.
SIFprime reading and what to watch
- The disclosed portfolio has moved from a much smaller July cash-equity book to 93.50% in September. With 52 positive company lines and 33.38% in the top ten, both deployment and the breadth of stock selection have increased.
- Watch whether the high equity allocation persists and how banks and capital-markets holdings contribute to concentration. A long-short mandate does not prove that a short position is present in every disclosure.
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.