Home/ SIF Funds/ Sbi Magnum Hybrid Long-Short Fund
Hybrid Long-Short

Sbi Magnum Hybrid Long-Short Fund

by SBI 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.
101.5%
of NAV
Gross Short ?Absolute value of all short positions (% of NAV). Includes both hedged shorts (matched against a long holding) and naked shorts.
0.8%
Futures + Options
Naked Shorts ?Short positions with no matching long holding. Pure directional bets — unlike hedged shorts which simply offset a stock held long.
0%
all hedged
Positions
103
79 long + 24 short
Data As Of
May 2026
Updated monthly
Physical book at 100% — short book via derivatives only
Physical holdings (equity, debt, cash) sum to approximately 100% of NAV. The 0.8% gross short book is built entirely through futures or options. Net Long (100.0%) is the effective market exposure after netting the short derivatives against the physical book.

Portfolio Bifurcation — May 2026 (scroll right →)

EQUITY
+66.2%		DEBT
+22.8%		COMMODITY
0%		CASH & EQUIV
+10.2%		OPTIONS
+0.9%		FUTURES
0%
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 premiumShort?Options written or sold short — shown as absolute value of obligationLong?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
+66.15%+22.76%-+3.59%+4.55%--+2.86%-0.85%+1.69%-0.75%---
All positions sum to: 100.00% of NAV
Last updated: May 2026  |  Next update: June 2026
Portfolio Allocation
May 2026
Equity (Long)
66.15%
Debt (Long)
22.76%
Cash & Equivalents
10.15%
Futures (Long)
0.00%
Options (Long)
1.69%
Gross Short ?Absolute value of all short positions. Includes hedged + naked shorts.
-0.75%
Holdings
79 long  +  24 short
Company% NAVMkt ValueWeight
Kotak Mahindra Bank Ltd.
 3.82% ₹13,186L
Axis Bank Ltd.
 3.42% ₹11,805L
Adani Enterprises Ltd.
 3.40% ₹11,734L
HDFC Bank Ltd.
 3.36% ₹11,597L
Reliance Industries Ltd.
 3.35% ₹11,580L
ICICI Bank Ltd.
 3.19% ₹11,020L
HDFC Life Insurance Company Ltd.
 3.02% ₹10,436L
Indus Towers Ltd.
 2.76% ₹9,536L
JB Chemicals & Pharmaceuticals Ltd.
 2.70% ₹9,317L
Maruti Suzuki India Ltd.
 2.66% ₹9,202L
Biocon Ltd.
 2.57% ₹8,862L
ITC Ltd.
 2.54% ₹8,772L
Sun Pharmaceutical Industries Ltd.
 2.52% ₹8,715L
Mahindra & Mahindra Ltd.
 2.35% ₹8,126L
Adani Ports and Special Economic Zone Ltd.
 2.32% ₹7,998L
Oil & Natural Gas Corporation Ltd.
 2.21% ₹7,626L
Bajaj Finserv Ltd.
 2.13% ₹7,353L
State Bank of India
 2.05% ₹7,067L
Asian Paints Ltd.
 2.05% ₹7,086L
Infosys Ltd.
 1.96% ₹6,776L
Muthoot Finance Ltd.
 1.91% ₹6,601L
Tata Power Company Ltd.
 1.90% ₹6,565L
Avenue Supermarts Ltd.
 1.77% ₹6,118L
Coforge Ltd.
 1.71% ₹5,902L
Bank of Baroda
 1.57% ₹5,419L
InstrumentCoupon% NAVMkt Value
CGL 2028
 7.06% 3.37% ₹11,652L
CGL 2028
 7.37% 2.36% ₹8,168L
TVS Motor Company Ltd.
 - 2.31% ₹7,987L
Power Finance Corporation Ltd.
 - 1.44% ₹4,972L
National Bank for Agriculture and Rural Development
 - 1.44% ₹4,988L
Small Industries Development Bank of India
 - 1.43% ₹4,941L
Bharti Telecom Ltd.
 - 1.42% ₹4,892L
Toyota Financial Services India Ltd.
 - 1.42% ₹4,891L
REC Ltd.
 - 1.15% ₹3,977L
Small Industries Development Bank of India
 - 1.13% ₹3,900L
Aditya Birla Housing Finance Ltd.
 - 0.72% ₹2,490L
REC Ltd.
 - 0.72% ₹2,489L
Small Industries Development Bank of India
 - 0.72% ₹2,484L
Bharti Telecom Ltd.
 - 0.71% ₹2,442L
Aditya Birla Capital Ltd.
 - 0.71% ₹2,456L
Mahindra Rural Housing Finance Ltd.
 - 0.71% ₹2,457L
Bajaj Finance Ltd.
 - 0.71% ₹2,466L
CGL 2027
 7.38% 0.29% ₹1,013L
TREPS / Repo
Instrument% NAVMkt Value
TREPS
 +4.55% ₹15,710L
Money Market
Instrument% NAVMkt Value
91 DAY T-BILL 09.07.26
 +1.44% ₹4,972L
91 DAY T-BILL 06.08.26
 +0.72% ₹2,475L
182 DAY T-BILL 04.06.26
 +0.72% ₹2,499L
91 DAY T-BILL 28.08.26
 +0.71% ₹2,467L
Cash Margin
Instrument% NAVMkt Value
Margin amount for Derivative positions
 +0.12% ₹400L
InvIT / REIT
Instrument% NAVMkt Value
Raajmarg Infra Investment Trust
 +2.86% ₹9,872L
Net Rec/(Pay)
Instrument% NAVMkt Value
Net Receivable / Payable
 -0.97% ₹3,340L
Estimated margin required: ~0.00% of NAV. Cash & equivalents stand at 10.2% — approximately N/Ax coverage. TREPS and money market instruments earn 6.5–7.5% p.a. — an active yield position, not idle margin reserve.
Long Options
InstrumentType% NAVMkt Value
Brookfield India Real Estate Trust
 - +0.92% ₹3,189L
Oil & Natural Gas Corporation Ltd. (Put Option)
 Put +0.13% ₹435L
HDFC Bank Ltd. (Put Option)
 Put +0.08% ₹276L
Muthoot Finance Ltd. (Put Option)
 Put +0.05% ₹169L
Reliance Industries Ltd. (Put Option)
 Put +0.05% ₹185L
HDFC Life Insurance Company Ltd. (Put Option)
 Put +0.05% ₹166L
ICICI Bank Ltd. (Put Option)
 Put +0.04% ₹123L
Mahindra & Mahindra Ltd. (Put Option)
 Put +0.04% ₹152L
Kotak Mahindra Bank Ltd. (Put Option)
 Put +0.04% ₹127L
Infosys Ltd. (Put Option)
 Put +0.03% ₹100L
Biocon Ltd. (Put Option)
 Put +0.03% ₹95.2L
Asian Paints Ltd. (Put Option)
 Put +0.03% ₹89.5L
Axis Bank Ltd. (Put Option)
 Put +0.03% ₹118L
Maruti Suzuki India Ltd. (Put Option)
 Put +0.02% ₹68.5L
State Bank of India (Put Option)
 Put +0.02% ₹64.1L
ITC Ltd. (Put Option)
 Put +0.02% ₹67.2L
Coforge Ltd. (Put Option)
 Put +0.02% ₹77.2L
Bajaj Finserv Ltd. (Put Option)
 Put +0.02% ₹56.7L
Bank of Baroda (Put Option)
 Put +0.02% ₹54.5L
Sun Pharmaceutical Industries Ltd. (Put Option)
 Put +0.01% ₹48.7L
Avenue Supermarts Ltd. (Put Option)
 Put +0.01% ₹35.3L
Cipla Ltd. (Put Option)
 Put +0.01% ₹38.1L
Indus Towers Ltd. (Put Option)
 Put +0.01% ₹44.2L
Tata Power Company Ltd. (Put Option)
 Put +0.01% ₹30.4L
Tech Mahindra Ltd. (Put Option)
 Put +0.00% ₹15.3L
Short Options
InstrumentType% NAVMkt Value
Cipla Ltd. (Call Option)
 Call -0.01% ₹47.7L
Oil & Natural Gas Corporation Ltd. (Call Option)
 Call -0.01% ₹30.2L
ITC Ltd. (Call Option)
 Call -0.02% ₹67.9L
HDFC Life Insurance Company Ltd. (Call Option)
 Call -0.02% ₹55.2L
Bajaj Finserv Ltd. (Call Option)
 Call -0.02% ₹82.7L
Sun Pharmaceutical Industries Ltd. (Call Option)
 Call -0.02% ₹54.9L
HDFC Bank Ltd. (Call Option)
 Call -0.02% ₹63.5L
Tech Mahindra Ltd. (Call Option)
 Call -0.02% ₹81.2L
ICICI Bank Ltd. (Call Option)
 Call -0.02% ₹62.9L
Reliance Industries Ltd. (Call Option)
 Call -0.03% ₹107L
Avenue Supermarts Ltd. (Call Option)
 Call -0.03% ₹101L
Bank of Baroda (Call Option)
 Call -0.03% ₹86.8L
Kotak Mahindra Bank Ltd. (Call Option)
 Call -0.03% ₹120L
Mahindra & Mahindra Ltd. (Call Option)
 Call -0.03% ₹87.1L
Maruti Suzuki India Ltd. (Call Option)
 Call -0.03% ₹117L
State Bank of India (Call Option)
 Call -0.03% ₹99.3L
Muthoot Finance Ltd. (Call Option)
 Call -0.03% ₹90.1L
Axis Bank Ltd. (Call Option)
 Call -0.04% ₹130L
Indus Towers Ltd. (Call Option)
 Call -0.04% ₹140L
Infosys Ltd. (Call Option)
 Call -0.04% ₹126L
Asian Paints Ltd. (Call Option)
 Call -0.05% ₹174L
Tata Power Company Ltd. (Call Option)
 Call -0.05% ₹172L
Biocon Ltd. (Call Option)
 Call -0.06% ₹219L
Coforge Ltd. (Call Option)
 Call -0.07% ₹225L

No futures positions

Portfolio Analysis
Updated May 2026
May 2026 — Monthly Update

Sbi Magnum Hybrid Long-Short Fund runs a fully hedged short book. All 24 short futures/options positions are paired with corresponding equity longs, resulting in minimal unhedged market exposure from the short side.

Net long exposure of 100.0% is driven by the equity book (66.2%), debt (22.8%), and cash & equivalents (10.2%). The equity + futures combination contributes alpha through relative performance, independent of broad market direction.

March 2026 — Initial Coverage

Tequity initiated coverage of Sbi Magnum Hybrid Long-Short Fund with the March 2026 portfolio disclosure. Updated monthly as SBI 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: 101.50%. Equity: 66.15%, Debt: 22.76%, Cash & Equiv: 10.15%, Options Short: 0.75%, Futures Short: 0.00%. Naked futures short: 0% (fully hedged). Total positions: 103.

April 2026

Net long: 100.00%. Gross exposure: 101.84%. Equity: 67.00%, Debt: 22.75%, Cash & Equiv: 9.79%, Options Short: 0.92%, Futures Short: 0.00%. Naked futures short: 0% (fully hedged). Total positions: 84.

March 2026

Net long: 100.00%. Gross exposure: 102.76%. Equity: 69.50%, Debt: 24.73%, Cash & Equiv: 4.56%, Options Short: 1.38%, Futures Short: 0.00%. Naked futures short: 0% (fully hedged). Total positions: 116.

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Fund Details
AMCSBI Mutual Fund
CategoryHybrid Long-Short
Fund TypeSIF (SEBI Regulated)
Min. Investment₹10 Lakh
NAV DisclosureDaily
Portfolio DisclosureMonthly (AMFI)
Exposure Metrics
Net Long ?Long book minus short book (% of NAV). Actual unhedged market exposure.100.0%
Gross Short ?Absolute value of all short positions. Includes hedged + naked shorts.0.8%
Naked Short ?Shorts with no matching long. Pure directional bets against specific stocks.0%
Gross Exposure ?Long book + |Short book|. Values above 100% indicate derivative leverage.101.5%
Disclaimer: All data sourced from AMFI monthly portfolio disclosures (May 2026). Tequity Investing is an AMFI-registered Mutual Fund Distributor (ARN-245270). This is not investment advice. Specialised Investment Funds carry higher risk and are suitable only for sophisticated investors with a minimum investment of ₹10 lakh. Please consult a SEBI-registered financial planner before investing. Past performance is not indicative of future results.

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