WSIF Equity Ex-Top 100 Long-Short: September review: higher equity weight, lower cash
Key takeaway
Cash equity rose to 92.65% of NAV from 81.06% in July, while cash and net current assets declined. The September disclosure is compared with July, the latest earlier captured monthly portfolio.
Cash equity92.65%(increased by 11.59 pp)
Top-ten cash equity31.96%(increased by 0.48 pp)
Cash-equity rows54Prior: 45
AI Brief
What changed
Cash equity rose to 92.65% of NAV from 81.06% 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 92.65% 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 92.65%
The disclosed portfolio has more weight in cash equities and less in cash than in July. At 92.65% 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
- 92.65%(increased by 11.59 pp)
- Money market
- 4.71%(increased by 3.40 pp)
- Cash and net current assets
- 2.64%(reduced by 14.40 pp)
Derivative positioning
- Long derivativesFutures reported %
- 2.47%
- Futures · signed totalFutures reported %
- 2.47%(increased by 2.24 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
68 companiesLargest weight changes in each group · % of NAV
Explore the disclosed holdings
WSIF Equity Ex-Top 100 Long-Short · 30 Sept 2026
Portfolio sleeves
Listed equitylong
54 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 | Life Insurance Corporation Of IndiaINE0J1Y01017 · long Entries: Newly disclosed compared with the previous portfolio | Insurance | 5.20% | 5.20% |
| 02 | HDFC Bank LimitedINE040A01034 · long Increased: 4.48% → 5.04% of NAV | Banks | 5.04% | 5.04% |
| 03 | Syngene International LimitedINE398R01022 · long Increased: 2.39% → 2.84% of NAV | Healthcare Services | 2.84% | 2.84% |
| 04 | Niva Bupa Health Insurance Company Ltd.INE995S01015 · long Reduced: 2.95% → 2.83% of NAV | Insurance | 2.83% | 2.83% |
| 05 | Balkrishna Industries LimitedINE787D01026 · long Reduced: 2.79% → 2.79% of NAV | Auto Components | 2.79% | 2.79% |
| 06 | Clean Science and Technology LimitedINE227W01023 · long Entries: Newly disclosed compared with the previous portfolio | Chemicals & Petrochemicals | 2.79% | 2.79% |
| 07 | The Indian Hotels Company LimitedINE053A01029 · long Entries: Newly disclosed compared with the previous portfolio | Leisure Services | 2.66% | 2.66% |
| 08 | Amber Enterprises India LimitedINE371P01015 · long Entries: Newly disclosed compared with the previous portfolio | Consumer Durables | 2.64% | 2.64% |
| 09 | SWIGGY LIMITEDINE00H001014 · long Increased: 1.74% → 2.62% of NAV | Retailing | 2.62% | 2.62% |
| 10 | Asset Reconstruction Company (India)LtdINE148G01016 · long Entries: Newly disclosed compared with the previous portfolio | Finance | 2.55% | 2.55% |
| 11 | ICICI Prudential Life Insurance CompanyINE726G01019 · long Reduced: 4.34% → 2.39% of NAV | Insurance | 2.39% | 2.39% |
| 12 | RHI MAGNESITA INDIA LIMITEDINE743M01012 · long Entries: Newly disclosed compared with the previous portfolio | Industrial Products | 2.29% | 2.29% |
| 13 | Thermax LimitedINE152A01029 · long Entries: Newly disclosed compared with the previous portfolio | Electrical Equipment | 2.23% | 2.23% |
| 14 | Dr. Reddy's Laboratories LimitedINE089A01031 · long Reduced: 2.30% → 2.19% of NAV | Pharmaceuticals & Biotechnology | 2.19% | 2.19% |
| 15 | JSW Cement LimitedINE718I01012 · long Increased: 1.02% → 2.18% of NAV | Cement & Cement Products | 2.18% | 2.18% |
| 16 | TITAGARH RAIL SYSTEMS LIMITEDINE615H01020 · long Entries: Newly disclosed compared with the previous portfolio | Industrial Manufacturing | 2.15% | 2.15% |
| 17 | Alembic Pharmaceuticals LimitedINE901L01018 · long Reduced: 2.43% → 2.15% of NAV | Pharmaceuticals & Biotechnology | 2.15% | 2.15% |
| 18 | Apollo Tyres LimitedINE438A01022 · long Entries: Newly disclosed compared with the previous portfolio | Auto Components | 2.13% | 2.13% |
| 19 | Bayer Cropscience LimitedINE462A01022 · long Increased: 1.91% → 2.09% of NAV | Fertilizers & Agrochemicals | 2.09% | 2.09% |
| 20 | Physicswallah LimitedINE0LP301011 · long Entries: Newly disclosed compared with the previous portfolio | Other Consumer Services | 2.03% | 2.03% |
| 21 | Blue Dart Express LimitedINE233B01017 · long Increased: 1.33% → 1.98% of NAV | Transport Services | 1.98% | 1.98% |
| 22 | Crompton Greaves Consumer Electrical LtdINE299U01018 · long Reduced: 2.12% → 1.91% of NAV | Consumer Durables | 1.91% | 1.91% |
| 23 | ICRA LIMITEDINE725G01011 · long Reduced: 2.43% → 1.90% of NAV | Capital Markets | 1.90% | 1.90% |
| 24 | Manika Plastech LimitedINE0KWF01020 · long Entries: Newly disclosed compared with the previous portfolio | Industrial Products | 1.83% | 1.83% |
| 25 | MRF LimitedINE883A01011 · long Entries: Newly disclosed compared with the previous portfolio | Auto Components | 1.65% | 1.65% |
| 26 | ITC Hotels LimitedINE379A01028 · long Entries: Newly disclosed compared with the previous portfolio | Leisure Services | 1.62% | 1.62% |
| 27 | EIH LimitedINE230A01023 · long Reduced: 1.65% → 1.57% of NAV | Leisure Services | 1.57% | 1.57% |
| 28 | TVS Supply Chain Solutions LimitedINE395N01027 · long Entries: Newly disclosed compared with the previous portfolio | Transport Services | 1.55% | 1.55% |
| 29 | SKF India LimitedINE640A01023 · long Entries: Newly disclosed compared with the previous portfolio | Auto Components | 1.49% | 1.49% |
| 30 | Alkem Laboratories LimitedINE540L01014 · long Reduced: 2.49% → 1.43% of NAV | Pharmaceuticals & Biotechnology | 1.43% | 1.43% |
| 31 | BASF India LimitedINE373A01013 · long Reduced: 1.60% → 1.42% of NAV | Chemicals & Petrochemicals | 1.42% | 1.42% |
| 32 | Lemon Tree Hotels LimitedINE970X01018 · long Reduced: 1.96% → 1.40% of NAV | Leisure Services | 1.40% | 1.40% |
| 33 | Thomas Cook (India) LimitedINE332A01027 · long Entries: Newly disclosed compared with the previous portfolio | Leisure Services | 1.35% | 1.35% |
| 34 | Havells India LimitedINE176B01034 · long Entries: Newly disclosed compared with the previous portfolio | Consumer Durables | 1.34% | 1.34% |
| 35 | BEML LimitedINE258A01024 · long Entries: Newly disclosed compared with the previous portfolio | Agricultural, Commercial & Construction Vehicles | 1.31% | 1.31% |
| 36 | EUREKA FORBES LTDINE0KCE01017 · long Reduced: 2.50% → 1.28% of NAV | Consumer Durables | 1.28% | 1.28% |
| 37 | Chemplast Sanmar LtdINE488A01050 · long Reduced: 1.45% → 1.25% of NAV | Chemicals & Petrochemicals | 1.25% | 1.25% |
| 38 | Godrej Consumer Products LimitedINE102D01028 · long Entries: Newly disclosed compared with the previous portfolio | Personal Products | 1.18% | 1.18% |
| 39 | JK Paper LimitedINE789E01012 · long Entries: Newly disclosed compared with the previous portfolio | Paper, Forest & Jute Products | 1.09% | 1.09% |
| 40 | Olectra Greentech LimitedINE260D01016 · long Entries: Newly disclosed compared with the previous portfolio | Automobiles | 1.04% | 1.04% |
| 41 | PTC India LimitedINE877F01012 · long Reduced: 1.84% → 1.04% of NAV | Power | 1.04% | 1.04% |
| 42 | Eris Lifesciences LimitedINE406M01024 · long Reduced: 1.68% → 0.94% of NAV | Pharmaceuticals & Biotechnology | 0.94% | 0.94% |
| 43 | TUBE INVESTMENTS OF INDIA LTDINE974X01010 · long Entries: Newly disclosed compared with the previous portfolio | Auto Components | 0.94% | 0.94% |
| 44 | Hindalco Industries LimitedINE038A01020 · long Entries: Newly disclosed compared with the previous portfolio | Non - Ferrous Metals | 0.87% | 0.87% |
| 45 | JK Lakshmi Cement LimitedINE786A01032 · long Reduced: 1.50% → 0.83% of NAV | Cement & Cement Products | 0.83% | 0.83% |
| 46 | Chambal Fertilizers & Chemicals LimitedINE085A01013 · long Reduced: 1.36% → 0.81% of NAV | Fertilizers & Agrochemicals | 0.81% | 0.81% |
| 47 | Ambuja Cements LimitedINE079A01024 · long Reduced: 1.43% → 0.79% of NAV | Cement & Cement Products | 0.79% | 0.79% |
| 48 | Atul LimitedINE100A01010 · long Reduced: 1.21% → 0.58% of NAV | Chemicals & Petrochemicals | 0.58% | 0.58% |
| 49 | Indraprastha Gas LimitedINE203G01027 · long Reduced: 0.94% → 0.58% of NAV | Gas | 0.58% | 0.58% |
| 50 | Brainbees Solutions Ltd.INE02RE01045 · long Reduced: 1.05% → 0.57% of NAV | Retailing | 0.57% | 0.57% |
| 51 | Bharat Electronics LimitedINE263A01024 · long Reduced: 0.80% → 0.51% of NAV | Aerospace & Defense | 0.51% | 0.51% |
| 52 | Jindal Steel LimitedINE749A01030 · long Reduced: 0.48% → 0.32% of NAV | Ferrous Metals | 0.32% | 0.32% |
| 53 | Orkla India LimitedINE16NZ01023 · long Reduced: 0.46% → 0.29% of NAV | Food Products | 0.29% | 0.29% |
| 54 | Tejas Networks LimitedINE010J01012 · long Reduced: 1.19% → 0.21% of NAV | Telecom - Equipment & Accessories | 0.21% | 0.21% |
Exited holdings 14
Present in the previous disclosure, absent from the latest. Excluded from current holdings and sector weights.
| Company | Movement | Previous % NAV |
|---|---|---|
| JSW Infrastructure LimitedINE880J01026 | Exits: 4.63% in the previous disclosure | 4.63% |
| FINOLEX CABLES LTDINE235A01022 | Exits: 2.45% in the previous disclosure | 2.45% |
| Meesho LimitedINE0VDM01015 | Exits: 2.26% in the previous disclosure | 2.26% |
| Max Financial Services LimitedINE180A01020 | Exits: 2.17% in the previous disclosure | 2.17% |
| Glenmark Pharmaceuticals LimitedINE935A01035 | Exits: 1.99% in the previous disclosure | 1.99% |
| APL Apollo Tubes LimitedINE702C01027 | Exits: 1.88% in the previous disclosure | 1.88% |
| EPL LimitedINE255A01020 | Exits: 1.47% in the previous disclosure | 1.47% |
| Dr. Lal Path Labs Ltd.INE600L01024 | Exits: 1.18% in the previous disclosure | 1.18% |
| INDIGO PAINTS LIMITEDINE09VQ01012 | Exits: 1.15% in the previous disclosure | 1.15% |
| Dalmia Bharat LimitedINE00R701025 | Exits: 1.11% in the previous disclosure | 1.11% |
| National Aluminium Company LimitedINE139A01034 | Exits: 1.08% in the previous disclosure | 1.08% |
| Pine Labs LimitedINE15B701018 | Exits: 0.98% in the previous disclosure | 0.98% |
| SAGILITY INDIA LIMITEDINE0W2G01015 | Exits: 0.67% in the previous disclosure | 0.67% |
| Cholamandalam Invest & Finance Co LtdINE121A01024 | Exits: 0.23% in the previous disclosure | 0.23% |
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: 92.65%; money market: 4.71%; cash and net current assets: 2.64% of NAV.
- The statement contains 54 cash-equity companies. The top ten account for 31.96% of NAV.
- Largest cash-equity holdings: Life Insurance Corporation Of India (5.20% of NAV); HDFC Bank Limited (5.04% of NAV); Syngene International Limited (2.84% 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 11.59 percentage points. Cash and net current assets fell from 17.04% to 2.64% of NAV.
- Entries: 23 companies. Life Insurance Corporation Of India (5.20% of NAV); Clean Science and Technology Limited (2.79% of NAV); The Indian Hotels Company Limited (2.66% of NAV).
- Exits: 14 companies. JSW Infrastructure Limited (4.63% of NAV previously); FINOLEX CABLES LTD (2.45% of NAV previously); Meesho Limited (2.26% of NAV previously).
- ICICI Prudential Life Insurance Company: 4.34% to 2.39% of NAV (down 1.96 percentage points).
- EUREKA FORBES LTD: 2.50% to 1.28% of NAV (down 1.22 percentage points).
- JSW Cement Limited: 1.02% to 2.18% of NAV (up 1.16 percentage points).
Derivatives, measured separately
- The two disclosed futures lines total 2.47% on the reported signed-percentage basis, versus 0.23% 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 92.65% 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.