Qsif Active Asset Allocator Long-Short Fund

by quant Mutual Fund | Specialised Investment Fund | Min. ₹10 Lakh

Net Long ?Long book minus short book (% of NAV). The fund's actual unhedged market exposure after netting both sides.

100.0%

of NAV

Gross Exposure ?Long book + |Short book| in absolute terms. Values above 100% reflect leverage through derivatives.

102.2%

of NAV

Gross Short ?Absolute value of all short positions (% of NAV). Includes both hedged shorts (matched against a long holding) and naked shorts.

1.1%

Futures + Options

Naked Shorts ?Short positions with no matching long holding. Pure directional bets — unlike hedged shorts which simply offset a stock held long.

1.12%

1 futures contract(s)

Positions

20 long + 1 short

Data As Of

May 2026

Updated monthly

Futures are INCLUDED in the 100% NAV total

This fund's portfolio statement incorporates futures positions at notional value as part of its allocation. Equity, debt, cash, futures long (11.9%), and futures short together add up to approximately 100% of NAV. Net Long (100.0%) is the net market exposure. Gross Short (1.1%) is the absolute value of short positions — these exist within the 100% total, funded partly by the futures overlay. This is why Net Long + Gross Short exceeds 100%.

Portfolio Bifurcation — May 2026 (scroll right →)

EQUITY +49.0%	DEBT 0%	COMMODITY 0%	CASH & EQUIV +40.2%						OPTIONS 0%		FUTURES +10.7%
Equity Long?Equity stocks held long (% of NAV)	Debt Long?Bonds and fixed-income instruments held long	Commodity Long?Physical commodity ETFs or commodity fund units (e.g. gold ETFs)	Money Market?Money market instruments: T-Bills, CDs, Commercial Papers	TREPS / Repo?Tri-party repos and CCIL settlement receivables — overnight/very short-term, near-cash	Cash Margin?Cash deposited as margin collateral for derivatives positions — earns repo rate	MF Units?Units of other mutual funds held in portfolio (excluding commodity ETFs)	InvIT / REIT?Real Estate Investment Trusts and Infrastructure Investment Trusts	Net Rec/(Pay)?Net Current Assets: receivables minus payables. Negative = net liability	Long?Options held long — buyer paid the premium	Short?Options written or sold short — shown as absolute value of obligation	Long?Futures contracts held long at notional value (% of NAV)	Hedged Short?Short futures matched against a corresponding equity long — limits downside on a held stock	Naked Short?Short futures with no matching long — directional bet on a stock or index falling
+49.03%	-	-	+6.97%	+44.35%	-	-	-	-11.08%	-	-	+11.85%	-	-1.12%

All positions sum to: 100.00% of NAV

Last updated: May 2026 | Next update: June 2026

Portfolio Allocation

May 2026

Equity (Long)

49.03%

Debt (Long)

0.00%

Cash & Equivalents

40.24%

Futures (Long)

11.85%

Options (Long)

0.00%

Gross Short ?Absolute value of all short positions. Includes hedged + naked shorts.

-1.12%

Holdings

20 long + 1 short

Company	% NAV	Mkt Value
Bharti Airtel Limited	6.34%	₹405L
HDFC Life Insurance Co Ltd	6.29%	₹402L
Reliance Industries Limited	6.09%	₹390L
L&T Technology Services Limited	5.71%	₹365L
HFCL Limited	5.06%	₹324L
Tech Mahindra Limited	4.92%	₹315L
YES Bank Ltd.	4.67%	₹299L
LIC Housing Finance Ltd	3.74%	₹239L
Manappuram Finance Ltd	2.28%	₹146L
Apollo Tyres Ltd	1.99%	₹127L
Kaynes Technology India Limited	1.93%	₹124L

Instrument	Coupon	% NAV	Mkt Value
No debt holdings

TREPS / Repo

Instrument	% NAV	Mkt Value
TREPS 01-Jun-2026 DEPO 10	+44.35%	₹2,837L

Money Market

Instrument	% NAV	Mkt Value
91 Days Treasury Bill 23-Jul-2026	+1.55%	₹99.2L
91 Days Treasury Bill 30-Jul-2026	+1.55%	₹99.1L
91 Days Treasury Bill 06-Aug-2026	+1.55%	₹99.0L
91 Days Treasury Bill 13-Aug-2026	+1.55%	₹98.9L
91 Days Treasury Bill 28-Aug-2026	+0.77%	₹49.3L

Net Rec/(Pay)

Instrument	% NAV	Mkt Value
NCA-NET CURRENT ASSETS	-11.08%	₹709L

Estimated margin required: ~0.21% of NAV. Cash & equivalents stand at 40.2% — approximately 193x coverage. TREPS and money market instruments earn 6.5–7.5% p.a. — an active yield position, not idle margin reserve.

No options positions

Long Futures

Contract	% NAV	Mkt Value	Expiry
Adani Enterprises Limited	+6.16%	₹394L	30/06/2026
Indus Towers Limited	+5.69%	₹364L	30/06/2026

Short Futures — Naked

Contract	% NAV	Mkt Value	Expiry
Hindalco Industries Limited	-1.12%	₹71.8L	30/06/2026

Naked (directional) futures short: 1.12% of NAV across 1 contract(s).

Portfolio Analysis

Updated May 2026

May 2026 — Monthly Update

Qsif Active Asset Allocator Long-Short Fund runs a mixed short book — hedged positions paired with equity longs, plus 1.12% in naked directional shorts across 1 futures contract(s). These represent direct bets on specific stocks or indices falling in price.

Net long exposure of 100.0% reflects partial but not complete market hedging. Investors get reduced market beta versus a long-only fund, combined with potential alpha from both long and short stock selection. Options short book (0.00%) adds further positioning.

March 2026 — Initial Coverage

Tequity initiated coverage of Qsif Active Asset Allocator Long-Short Fund with the March 2026 portfolio disclosure. Updated monthly as quant Mutual Fund 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 monthly

May 2026

Net long: 100.00%. Gross exposure: 102.25%. Equity: 49.03%, Debt: 0.00%, Cash & Equiv: 40.24%, Options Short: 0.00%, Futures Short: 1.12%. Naked futures short: 1.12%. Total positions: 21.

Qsif Active Asset Allocator Long-Short Fund

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