WSIF Equity Long-Short: September review: higher equity weight, lower cash
Key takeaway
Cash equity rose to 87.25% of NAV from 84.64% in July, while cash and net current assets declined. The September disclosure is compared with July, the latest earlier captured monthly portfolio.
Cash equity87.25%(increased by 2.61 pp)
Top-ten cash equity32.52%(reduced by 3.18 pp)
Cash-equity rows51Prior: 45
AI Brief
What changed
Cash equity rose to 87.25% of NAV from 84.64% in July, while cash and net current assets declined. The September disclosure is compared with July, the latest earlier captured monthly portfolio.
Why it matters
The disclosed portfolio has more weight in cash equities and less in cash than in July. At 87.25% cash equity, company and sector selection deserve close attention. The small reported futures percentage does not establish total net market exposure or downside protection.
What to watch
Watch concentration in the largest companies and sectors, and whether the lower cash balance persists. Interpret all changes over the actual July-to-September interval.
What remains uncertain
Disclosure changes are not confirmed trades. Derivative valuation percentages are separate from funded assets and do not establish net market exposure.
Generated by Codex source-reviewed editorial research from this article and its evidence · 9 Oct 2026
OUR READING
SIFprime View
Listed equity leads at 87.25%
The disclosed portfolio has more weight in cash equities and less in cash than in July. At 87.25% cash equity, company and sector selection deserve close attention. The small reported futures percentage does not establish total net market exposure or downside protection.
Explore the evidencePORTFOLIO ALLOCATION
Latest allocation & changes
Compared with 31 Jul 2026 · pp = percentage points
- Listed equity
- 87.25%(increased by 2.61 pp)
- Money market
- 7.14%
- Cash and net current assets
- 5.61%(reduced by 9.50 pp)
Derivative positioning
- Long derivativesFutures reported %
- 2.73%
- Futures · signed totalFutures reported %
- 2.73%(increased by 0.45 pp)
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.
Equity activity
62 companiesLargest weight changes in each group · % of NAV
Explore the disclosed holdings
WSIF Equity Long-Short · 30 Sept 2026
Portfolio sleeves
Listed equitylong
51 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 | HDFC Bank LimitedINE040A01034 · long Reduced: 6.21% → 5.88% of NAV | Banks | 5.88% | 5.88% |
| 02 | Life Insurance Corporation Of IndiaINE0J1Y01017 · long Entries: Newly disclosed compared with the previous portfolio | Insurance | 4.68% | 4.68% |
| 03 | Tata Consultancy Services LimitedINE467B01029 · long Entries: Newly disclosed compared with the previous portfolio | IT - Software | 3.40% | 3.40% |
| 04 | Larsen & Toubro LimitedINE018A01030 · long Increased: 3.27% → 3.38% of NAV | Construction | 3.38% | 3.38% |
| 05 | Bharat Electronics LimitedINE263A01024 · long Reduced: 3.45% → 2.76% of NAV | Aerospace & Defense | 2.76% | 2.76% |
| 06 | Niva Bupa Health Insurance Company Ltd.INE995S01015 · long Increased: 2.49% → 2.60% of NAV | Insurance | 2.60% | 2.60% |
| 07 | Reliance Industries LimitedINE002A01018 · long Reduced: 3.57% → 2.59% of NAV | Petroleum Products | 2.59% | 2.59% |
| 08 | Balkrishna Industries LimitedINE787D01026 · long Entries: Newly disclosed compared with the previous portfolio | Auto Components | 2.51% | 2.51% |
| 09 | Amber Enterprises India LimitedINE371P01015 · long Entries: Newly disclosed compared with the previous portfolio | Consumer Durables | 2.37% | 2.37% |
| 10 | Infosys LimitedINE009A01021 · long Reduced: 3.35% → 2.36% of NAV | IT - Software | 2.36% | 2.36% |
| 11 | HDFC Life Insurance Company LimitedINE795G01014 · long Reduced: 2.93% → 2.22% of NAV | Insurance | 2.22% | 2.22% |
| 12 | Maruti Suzuki India LimitedINE585B01010 · long Reduced: 3.17% → 2.13% of NAV | Automobiles | 2.13% | 2.13% |
| 13 | RHI MAGNESITA INDIA LIMITEDINE743M01012 · long Entries: Newly disclosed compared with the previous portfolio | Industrial Products | 2.10% | 2.10% |
| 14 | Bharti Airtel LimitedINE397D01024 · long Increased: 1.75% → 2.08% of NAV | Telecom - Services | 2.08% | 2.08% |
| 15 | ITC LimitedINE154A01025 · long Increased: 1.33% → 1.99% of NAV | Diversified FMCG | 1.99% | 1.99% |
| 16 | JSW Cement LimitedINE718I01012 · long Increased: 1.13% → 1.96% of NAV | Cement & Cement Products | 1.96% | 1.96% |
| 17 | Blue Dart Express LimitedINE233B01017 · long Reduced: 1.91% → 1.91% of NAV | Transport Services | 1.91% | 1.91% |
| 18 | Syngene International LimitedINE398R01022 · long Entries: Newly disclosed compared with the previous portfolio | Healthcare Services | 1.90% | 1.90% |
| 19 | Clean Science and Technology LimitedINE227W01023 · long Entries: Newly disclosed compared with the previous portfolio | Chemicals & Petrochemicals | 1.88% | 1.88% |
| 20 | EIH LimitedINE230A01023 · long Reduced: 1.91% → 1.83% of NAV | Leisure Services | 1.83% | 1.83% |
| 21 | SKF India LimitedINE640A01023 · long Entries: Newly disclosed compared with the previous portfolio | Auto Components | 1.79% | 1.79% |
| 22 | BASF India LimitedINE373A01013 · long Reduced: 1.80% → 1.77% of NAV | Chemicals & Petrochemicals | 1.77% | 1.77% |
| 23 | Ambuja Cements LimitedINE079A01024 · long Reduced: 2.56% → 1.77% of NAV | Cement & Cement Products | 1.77% | 1.77% |
| 24 | Mahindra & Mahindra LimitedINE101A01026 · long Entries: Newly disclosed compared with the previous portfolio | Automobiles | 1.75% | 1.75% |
| 25 | SWIGGY LIMITEDINE00H001014 · long Increased: 0.97% → 1.74% of NAV | Retailing | 1.74% | 1.74% |
| 26 | Asset Reconstruction Company (India)LtdINE148G01016 · long Entries: Newly disclosed compared with the previous portfolio | Finance | 1.71% | 1.71% |
| 27 | The Tata Power Company LimitedINE245A01021 · long Reduced: 2.26% → 1.70% of NAV | Power | 1.70% | 1.70% |
| 28 | Thermax LimitedINE152A01029 · long Entries: Newly disclosed compared with the previous portfolio | Electrical Equipment | 1.61% | 1.61% |
| 29 | ITC Hotels LimitedINE379A01028 · long Entries: Newly disclosed compared with the previous portfolio | Leisure Services | 1.56% | 1.56% |
| 30 | Crompton Greaves Consumer Electrical LtdINE299U01018 · long Reduced: 2.41% → 1.54% of NAV | Consumer Durables | 1.54% | 1.54% |
| 31 | Bayer Cropscience LimitedINE462A01022 · long Reduced: 2.12% → 1.45% of NAV | Fertilizers & Agrochemicals | 1.45% | 1.45% |
| 32 | Alkem Laboratories LimitedINE540L01014 · long Reduced: 1.71% → 1.22% of NAV | Pharmaceuticals & Biotechnology | 1.22% | 1.22% |
| 33 | Wipro LimitedINE075A01022 · long Reduced: 1.63% → 1.13% of NAV | IT - Software | 1.13% | 1.13% |
| 34 | Hindalco Industries LimitedINE038A01020 · long Entries: Newly disclosed compared with the previous portfolio | Non - Ferrous Metals | 1.12% | 1.12% |
| 35 | Lemon Tree Hotels LimitedINE970X01018 · long Reduced: 1.39% → 1.06% of NAV | Leisure Services | 1.06% | 1.06% |
| 36 | Chemplast Sanmar LtdINE488A01050 · long Increased: 0.89% → 1.04% of NAV | Chemicals & Petrochemicals | 1.04% | 1.04% |
| 37 | Godrej Consumer Products LimitedINE102D01028 · long Reduced: 1.59% → 1.01% of NAV | Personal Products | 1.01% | 1.01% |
| 38 | ICRA LIMITEDINE725G01011 · long Reduced: 1.45% → 1.00% of NAV | Capital Markets | 1.00% | 1.00% |
| 39 | Chambal Fertilizers & Chemicals LimitedINE085A01013 · long Reduced: 1.30% → 0.97% of NAV | Fertilizers & Agrochemicals | 0.97% | 0.97% |
| 40 | TUBE INVESTMENTS OF INDIA LTDINE974X01010 · long Entries: Newly disclosed compared with the previous portfolio | Auto Components | 0.84% | 0.84% |
| 41 | TVS Supply Chain Solutions LimitedINE395N01027 · long Entries: Newly disclosed compared with the previous portfolio | Transport Services | 0.84% | 0.84% |
| 42 | JK Lakshmi Cement LimitedINE786A01032 · long Reduced: 1.15% → 0.80% of NAV | Cement & Cement Products | 0.80% | 0.80% |
| 43 | Atul LimitedINE100A01010 · long Reduced: 1.00% → 0.70% of NAV | Chemicals & Petrochemicals | 0.70% | 0.70% |
| 44 | Jindal Steel LimitedINE749A01030 · long Reduced: 1.64% → 0.67% of NAV | Ferrous Metals | 0.67% | 0.67% |
| 45 | The Indian Hotels Company LimitedINE053A01029 · long Entries: Newly disclosed compared with the previous portfolio | Leisure Services | 0.66% | 0.66% |
| 46 | EUREKA FORBES LTDINE0KCE01017 · long Reduced: 1.00% → 0.64% of NAV | Consumer Durables | 0.64% | 0.64% |
| 47 | ICICI Prudential Life Insurance CompanyINE726G01019 · long Reduced: 0.89% → 0.61% of NAV | Insurance | 0.61% | 0.61% |
| 48 | Dr. Reddy's Laboratories LimitedINE089A01031 · long Reduced: 1.23% → 0.58% of NAV | Pharmaceuticals & Biotechnology | 0.58% | 0.58% |
| 49 | Olectra Greentech LimitedINE260D01016 · long Entries: Newly disclosed compared with the previous portfolio | Automobiles | 0.56% | 0.56% |
| 50 | Orkla India LimitedINE16NZ01023 · long Reduced: 0.66% → 0.51% of NAV | Food Products | 0.51% | 0.51% |
| 51 | PTC India LimitedINE877F01012 · long Reduced: 0.52% → 0.37% of NAV | Power | 0.37% | 0.37% |
Exited holdings 11
Present in the previous disclosure, absent from the latest. Excluded from current holdings and sector weights.
| Company | Movement | Previous % NAV |
|---|---|---|
| JSW Infrastructure LimitedINE880J01026 | Exits: 4.70% in the previous disclosure | 4.70% |
| FINOLEX CABLES LTDINE235A01022 | Exits: 2.20% in the previous disclosure | 2.20% |
| Alembic Pharmaceuticals LimitedINE901L01018 | Exits: 2.02% in the previous disclosure | 2.02% |
| Hyundai Motor India LimitedINE0V6F01027 | Exits: 1.94% in the previous disclosure | 1.94% |
| Max Financial Services LimitedINE180A01020 | Exits: 1.33% in the previous disclosure | 1.33% |
| Glenmark Pharmaceuticals LimitedINE935A01035 | Exits: 1.32% in the previous disclosure | 1.32% |
| EPL LimitedINE255A01020 | Exits: 1.32% in the previous disclosure | 1.32% |
| Pine Labs LimitedINE15B701018 | Exits: 1.24% in the previous disclosure | 1.24% |
| INDIGO PAINTS LIMITEDINE09VQ01012 | Exits: 0.99% in the previous disclosure | 0.99% |
| Tata Steel LimitedINE081A01020 | Exits: 0.84% in the previous disclosure | 0.84% |
| Cholamandalam Invest & Finance Co LtdINE121A01024 | Exits: 0.11% in the previous disclosure | 0.11% |
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
- Cash equities: 87.25%; money market: 7.14%; cash and net current assets: 5.61% of NAV.
- The statement contains 51 cash-equity companies. The top ten account for 32.52% of NAV.
- Largest cash-equity holdings: HDFC Bank Limited (5.88% of NAV); Life Insurance Corporation Of India (4.68% of NAV); Tata Consultancy Services Limited (3.40% of NAV).
What changed in cash equities
- Comparison window: 31 July to 30 September 2026. No August-to-September claim is made because an August capture is not available.
- Cash-equity weight increased by 2.61 percentage points. Cash and net current assets fell from 15.11% to 5.61% of NAV.
- Entries: 17 companies. Life Insurance Corporation Of India (4.68% of NAV); Tata Consultancy Services Limited (3.40% of NAV); Balkrishna Industries Limited (2.51% of NAV).
- Exits: 11 companies. JSW Infrastructure Limited (4.70% of NAV previously); FINOLEX CABLES LTD (2.20% of NAV previously); Alembic Pharmaceuticals Limited (2.02% of NAV previously).
- Maruti Suzuki India Limited: 3.17% to 2.13% of NAV (down 1.04 percentage points).
- Infosys Limited: 3.35% to 2.36% of NAV (down 1.00 percentage points).
- Reliance Industries Limited: 3.57% to 2.59% of NAV (down 0.98 percentage points).
Derivatives, measured separately
- The two disclosed futures lines total 2.73% on the reported signed-percentage basis, versus 2.27% in July.
- The current futures lines are labelled non-hedging in the captured source. That label does not identify the complete investment strategy or expected return.
- Derivative percentages remain separate from funded allocation. Contract additions or expiries are not counted as company entries or exits, and an absent option line is not a quantified zero exposure.
What this means for the strategy
- The disclosed portfolio has more weight in cash equities and less in cash than in July. At 87.25% cash equity, company and sector selection deserve close attention. The small reported futures percentage does not establish total net market exposure or downside protection.
- Watch concentration in the largest companies and sectors, and whether the lower cash balance persists. Interpret all changes over the actual July-to-September interval.
Dates and evidence limits
- Holdings are dated 30 September 2026. This research was prepared on 9 October after the monthly disclosures were added to SIFprime.
- Changes between disclosures can reflect transactions, prices and investor flows. They do not establish trade dates, investment returns or the manager's intent.
- Cash-equity company movements are separate from derivative positioning. Futures, option premiums and swap valuations are not added together as one 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.