Portfolio Allocation
July 2026Equity (Long)
53.74%
Debt (Long)
20.42%
Cash & Equivalents
55.85%
Futures (Long)
1.63%
Options (Long)
9.92%
Short Book ?Absolute value of all short positions. Includes hedged + naked shorts.
-46.88%
Holdings
53 long + 45 short| Position | Type | % NAV | Mkt Value | Weight |
|---|---|---|---|---|
Mahindra & Mahindra Ltd. | Equity | 5.67% | ₹4,299L | |
State Bank Of India | Equity | 3.39% | ₹2,568L | |
HDFC Bank Ltd. | Equity | 3.11% | ₹2,357L | |
Reliance Industries Ltd. | Equity | 3.02% | ₹2,293L | |
Hero Motocorp Ltd. | Equity | 2.71% | ₹2,057L | |
Hindustan Unilever Ltd. | Equity | 2.42% | ₹1,840L | |
ICICI Bank Ltd. | Equity | 2.38% | ₹1,809L | |
Bajaj Finserv Ltd. | Equity | 2.31% | ₹1,751L | |
Bharat Electronics Ltd. | Equity | 2.27% | ₹1,726L | |
SBI Life Insurance Company Ltd. | Equity | 1.88% | ₹1,426L | |
Apollo Hospitals Enterprise Ltd. | Equity | 1.77% | ₹1,344L | |
Biocon Ltd. | Equity | 1.62% | ₹1,228L | |
Maruti Suzuki India Ltd. | Equity | 1.50% | ₹1,139L | |
Nifty Bank Put option $$ | Put Option | 1.45% | ₹1,100L | |
Bharti Airtel Ltd. | Equity | 1.41% | ₹1,071L | |
Godrej Consumer Products Ltd. | Equity | 1.41% | ₹1,070L | |
HDFC Life Insurance Company Ltd. | Equity | 1.34% | ₹1,015L | |
Gold (1 KG-1000 GMS) Commodity October 2026 Future | Futures Long | 1.32% | ₹1,004L | |
Tata Steel Ltd. | Equity | 1.25% | ₹948L | |
Max Financial Services Ltd. (Put option) $$ | Put Option | 1.23% | ₹934L | |
Kotak Mahindra Bank Ltd. | Equity | 1.20% | ₹913L | |
Central Depository Services (India) Ltd. | Equity | 1.07% | ₹814L | |
ITC Ltd. | Equity | 1.03% | ₹785L | |
Coal India Ltd. | Equity | 1.00% | ₹762L | |
Ultratech Cement Ltd. | Equity | 0.97% | ₹739L | |
Hedged Short Futures — 7.64% of NAV Covered
| Contract | Short % | Matched Long | Mkt Value |
|---|---|---|---|
Sun Pharmaceutical Industries Ltd. | -0.10% | +0.89% Sun Pharmaceutical Industrie (net +0.78%) | ₹76.8L |
Hindustan Unilever Ltd. | -0.14% | +2.42% Hindustan Unilever (net +2.28%) | ₹107L |
Hero Motocorp Ltd. | -0.32% | +2.71% Hero Motocorp (net +2.39%) | ₹243L |
Adani Ports and Special Economic Zone Ltd. | -0.51% | +0.51% Adani Ports and Special Econ (net -0.00%) | ₹388L |
Bajaj Finserv Ltd. | -0.57% | +2.31% Bajaj Finserv (net +1.74%) | ₹434L |
Dr. Reddy's Laboratories Ltd. | -0.62% | +0.62% Dr. Reddy's Laboratories (net -0.00%) | ₹474L |
Ultratech Cement Ltd. | -0.66% | +0.97% Ultratech Cement (net +0.31%) | ₹501L |
Mahindra & Mahindra Ltd. | -1.03% | +5.67% Mahindra & Mahindra (net +4.63%) | ₹783L |
ITC Ltd. | -1.04% | +1.03% ITC (net -0.00%) | ₹787L |
Kotak Mahindra Bank Ltd. | -1.21% | +1.20% Kotak Mahindra Bank (net -0.00%) | ₹915L |
Maruti Suzuki India Ltd. | -1.43% | +1.50% Maruti Suzuki India (net +0.07%) | ₹1,088L |
Short Options — 39.24% of NAV Covered Calls / Puts
| Instrument | Type | % NAV | Mkt Value |
|---|---|---|---|
Hindalco Industries Ltd. (Call Option) $$ | Call | -0.22% | ₹168L |
Jubilant Foodworks Ltd. (Call Option) $$ | Call | -0.29% | ₹218L |
Ultratech Cement Ltd. (Call Option) $$ | Call | -0.30% | ₹231L |
Lodha Developers Ltd. (Call Option) $$ | Call | -0.33% | ₹248L |
Oil & Natural Gas Corporation Ltd. (Call Option) $$ | Call | -0.49% | ₹375L |
ICICI Bank Ltd. (Call Option) $$ | Call | -0.54% | ₹406L |
Hindalco Industries Ltd. (Call Option) $$ | Call | -0.54% | ₹412L |
State Bank Of India (Call Option) $$ | Call | -0.69% | ₹523L |
Mphasis Ltd (Call Option) $$ | Call | -0.74% | ₹558L |
Sun Pharmaceutical Industries Ltd. (Call Option) $$ | Call | -0.78% | ₹595L |
Alkem Laboratories Ltd (Call Option) $$ | Call | -0.81% | ₹618L |
Central Depository Services (India) Ltd. (Call Option) $$ | Call | -0.88% | ₹665L |
Coal India Ltd. (Call Option) $$ | Call | -0.94% | ₹711L |
Hero Motocorp Ltd. (Call Option) $$ | Call | -0.99% | ₹750L |
Hindustan Unilever Ltd. (Call Option) $$ | Call | -1.01% | ₹766L |
Hero Motocorp Ltd. (Call Option) $$ | Call | -1.19% | ₹905L |
HDFC Life Insurance Company Ltd (Call Option) $$ | Call | -1.20% | ₹909L |
Bajaj Finserv Ltd. (Call Option) $$ | Call | -1.22% | ₹929L |
Hindustan Unilever Ltd. (Call Option) $$ | Call | -1.25% | ₹945L |
Tata Steel Ltd. (Call Option) $$ | Call | -1.30% | ₹983L |
Bharti Airtel Ltd. (Call Option) $$ | Call | -1.30% | ₹988L |
Reliance Industries Ltd. (Call Option) $$ | Call | -1.32% | ₹1,005L |
HDFC Bank Ltd. (Call Option) $$ | Call | -1.39% | ₹1,057L |
Godrej Consumer Products Ltd. (Call Option) $$ | Call | -1.45% | ₹1,100L |
Mahindra & Mahindra Ltd. (Call Option) $$ | Call | -1.52% | ₹1,155L |
Mahindra & Mahindra Ltd. (Call Option) $$ | Call | -1.54% | ₹1,170L |
HDFC Bank Ltd. (Call Option) $$ | Call | -1.62% | ₹1,231L |
Biocon Ltd. (Call Option) $$ | Call | -1.71% | ₹1,294L |
Reliance Industries Ltd. (Call Option) $$ | Call | -1.75% | ₹1,330L |
Apollo Hospitals Enterprise Ltd. (Call Option) $$ | Call | -1.80% | ₹1,365L |
SBI Life Insurance Company Ltd. (Call Option) $$ | Call | -1.86% | ₹1,409L |
ICICI Bank Ltd. (Call Option) $$ | Call | -1.89% | ₹1,431L |
Bharat Electronics Ltd. (Call Option) $$ | Call | -1.97% | ₹1,492L |
State Bank Of India (Call Option) $$ | Call | -2.42% | ₹1,835L |
Fixed Income — 20.42% of NAV
| Instrument | Coupon | % NAV | Mkt Value |
|---|---|---|---|
State Government of Karnataka |
- | 3.30% | ₹2,507L |
Aadhar Housing Finance Ltd. ** |
- | 3.30% | ₹2,500L |
Government Securities |
- | 2.66% | ₹2,015L |
State Government of Maharashtra |
- | 2.59% | ₹1,965L |
Torrent Power Ltd. ** |
- | 1.99% | ₹1,509L |
Godrej Industries Ltd. ** |
- | 1.66% | ₹1,256L |
Godrej Industries Ltd. ** |
- | 1.66% | ₹1,256L |
Muthoot Finance Ltd. ** |
- | 1.32% | ₹1,000L |
State Government of Uttar Pradesh |
- | 1.30% | ₹983L |
Manappuram Finance Ltd. ** |
- | 0.66% | ₹499L |
TREPS / Repo — 9.01%
| Instrument | % NAV | Mkt Value |
|---|---|---|
TREPS | +9.01% | ₹6,836L |
Money Market — 6.99%
| Instrument | % NAV | Mkt Value |
|---|---|---|
Union Bank Of India | +3.16% | ₹2,399L |
91 Days Treasury Bills | +1.31% | ₹997L |
Cube Highways Trust | +0.68% | ₹517L |
364 Days Treasury Bills | +0.66% | ₹499L |
182 Days Treasury Bills | +0.66% | ₹498L |
364 Days Treasury Bills | +0.26% | ₹198L |
91 Days Treasury Bills | +0.13% | ₹99.3L |
91 Days Treasury Bills | +0.13% | ₹99.2L |
Cash Margin — 11.47%
| Instrument | % NAV | Mkt Value |
|---|---|---|
Cash Margin - Derivatives | +11.47% | ₹8,700L |
InvIT / REIT — 0.68%
| Instrument | % NAV | Mkt Value |
|---|---|---|
Units of Infrastructure Investment Trusts (InvITs) | +0.68% | ₹517L |
Net Rec/(Pay) — 27.70%
| Instrument | % NAV | Mkt Value |
|---|---|---|
Net Current Assets | +27.70% | ₹21,018L |
Estimated margin required: ~0.11% of NAV. Cash & equivalents stand at 55.9% — approximately 487x coverage. TREPS and money market instruments earn 6.5–7.5% p.a. — an active yield position, not idle margin reserve.
Portfolio Analysis
Updated July 2026July 2026 — Monthly Update
Isif Active Asset Allocator Long-Short Fund runs a fully hedged short book. All 45 short futures/options positions are paired with corresponding equity longs, resulting in minimal unhedged market exposure from the short side.
Net long exposure of 94.7% is driven by the equity book (53.7%), debt (20.4%), and cash & equivalents (55.9%). The equity + futures combination contributes alpha through relative performance, independent of broad market direction.
March 2026 — Initial Coverage
Tequity initiated coverage of Isif Active Asset Allocator Long-Short Fund with the March 2026 portfolio disclosure. Updated monthly as iSIF publishes new disclosures on the AMFI portal.
Data sourced directly from AMFI monthly portfolio disclosure. All figures as a percentage of Net Asset Value.
Portfolio History
Updated monthlyJuly 2026
Net long: 94.67%. Gross exposure: 188.44%. Equity: 53.74%, Debt: 20.42%, Cash & Equiv: 55.85%, Options Short: 39.24%, Futures Short: 7.64%. Naked futures short: 0% (fully hedged). Total positions: 120.
June 2026
Net long: 100.04%. Gross exposure: 100.92%. Equity: 38.67%, Debt: 24.57%, Cash & Equiv: 37.05%, Options Short: 0.44%, Futures Short: 0.00%. Naked futures short: 0% (fully hedged). Total positions: 85.