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Hybrid Long-Short

Titanium Hybrid Long-Short Fund

by Titanium Asset Management  |  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.
97.5%
of NAV
Gross Exposure ?Long book + |Short book| in absolute terms. Values above 100% reflect leverage through derivatives.
124.9%
of NAV
Gross Short ?Absolute value of all short positions (% of NAV). Includes both hedged shorts (matched against a long holding) and naked shorts.
13.7%
Futures + Options
Naked Shorts ?Short positions with no matching long holding. Pure directional bets — unlike hedged shorts which simply offset a stock held long.
6.62%
9 futures contract(s)
Positions
89
73 long + 16 short
Data As Of
May 2026
Updated monthly
Physical book is 100% — futures are an additional derivative overlay
This fund's physical holdings (equity, debt, cash equivalents) independently sum to approximately 100% of NAV. The futures positions (long: 11.2% notional) are a derivative overlay on top, expressing additional directional views. Total gross exposure therefore exceeds 100%. Net Long (97.5%) reflects the combined effect of the physical book and the net futures position.

Portfolio Bifurcation — May 2026 (scroll right →)

EQUITY
+54.0%		DEBT
+21.8%		COMMODITY
0%		CASH & EQUIV
+24.2%		OPTIONS
-7.0%		FUTURES
+4.5%
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
+53.98%+21.83%-+17.87%---+1.17%+5.12%+0.03%-7.08%+11.16%--6.62%
All positions sum to: 97.46% of NAV
Last updated: May 2026  |  Next update: June 2026
Portfolio Allocation
May 2026
Equity (Long)
53.98%
Debt (Long)
21.83%
Cash & Equivalents
24.16%
Futures (Long)
11.16%
Options (Long)
0.03%
Gross Short ?Absolute value of all short positions. Includes hedged + naked shorts.
-13.70%
Holdings
73 long  +  16 short
Company% NAVMkt ValueWeight
ICICI BANK LTD.
 4.12% ₹226,152,000L
HDFC BANK LTD.
 4.00% ₹219,642,250L
MAHINDRA & MAHINDRA LTD.
 3.05% ₹167,508,000L
LARSEN & TOUBRO LTD.
 2.67% ₹146,754,000L
BHARTI AIRTEL LTD.
 2.67% ₹146,320,000L
RELIANCE INDUSTRIES LTD.
 2.29% ₹125,514,000L
Goi - 7.02% (18/06/2031)
 1.83% ₹100,541,700L
Sgs Madhya Pradesh 7.63% (04/03/2041)
 1.79% ₹98,212,300L
SUN PHARMACEUTICAL INDUSTRIES LTD.
 1.67% ₹91,759,200L
AXIS BANK LTD.
 1.52% ₹83,629,000L
TATA COMMUNICATIONS LTD.
 1.43% ₹78,600,000L
STATE BANK OF INDIA
 1.41% ₹77,152,000L
LIFE INSURANCE CORPORATION OF INDIA
 1.35% ₹74,043,000L
OMNITECH ENGINEERING LTD
 1.31% ₹72,159,250L
NTPC Ltd.
 1.27% ₹69,642,000L
EMBASSY OFFICE PARKS REIT
 1.17% ₹64,075,500L
BROOKFIELD INDIA REAL ESTATE TRUST
 1.16% ₹63,776,000L
ITC LTD.
 1.15% ₹63,118,000L
AMBUJA CEMENTS LTD.
 1.09% ₹60,058,476L
INTERGLOBE AVIATION LTD.
 0.96% ₹52,860,000L
BRITANNIA INDUSTRIES LTD.
 0.95% ₹52,045,000L
MARICO LTD.
 0.90% ₹49,302,000L
DR. LAL PATH LABS LTD.
 0.87% ₹47,591,899L
HDFC LIFE INSURANCE CO. LTD.
 0.87% ₹47,584,000L
LG ELECTRONICS INDIA LTD
 0.83% ₹45,717,000L
InstrumentCoupon% NAVMkt Value
** 08.85 % Muthoot Finance Ltd.
 - 9.15% ₹501,922,000L
** 07.89 % Tata Capital Ltd.
 - 4.54% ₹249,270,500L
** 07.51 % Small Indust Devlop Bank Of India
 - 4.53% ₹248,433,000L
** 08.20 % Adani Power Ltd.
 - 3.61% ₹197,971,000L
Money Market
Instrument% NAVMkt Value
TREASURY BILL 91 DAYS (30/07/2026)
 +4.52% ₹247,829,500L
TREASURY BILL 91 DAYS (06/08/2026)
 +4.51% ₹247,538,250L
TREASURY BILL 91 DAYS (20/08/2026)
 +3.60% ₹197,607,200L
D) Repo
 +3.42% ₹187,645,202L
TREASURY BILL 182 DAYS (11/06/2026)
 +1.82% ₹99,855,000L
Net Rec/(Pay)
Instrument% NAVMkt Value
Net Current Assets
 +5.12% ₹283,054,657L
Estimated margin required: ~1.22% of NAV. Cash & equivalents stand at 23.0% — approximately 18x 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
NIFTY
 - +0.03% ₹1,838,070L
Short Options
InstrumentType% NAVMkt Value
INDUSIND BANK LTD.
 - -0.82% ₹44,803,150L
AMBUJA CEMENTS LTD.
 - -0.86% ₹47,024,250L
INTERGLOBE AVIATION LTD.
 - -0.96% ₹52,860,000L
LARSEN & TOUBRO LTD.
 - -1.04% ₹57,071,000L
LIFE INSURANCE CORPORATION OF INDIA
 - -1.05% ₹57,589,000L
MARUTI SUZUKI INDIA LTD.
 - -1.08% ₹59,071,500L
BHARTI AIRTEL LTD.
 - -1.27% ₹69,502,000L
Long Futures
Contract% NAVMkt ValueExpiry
MARUTI SUZUKI INDIA LTD.
 +1.09% ₹59,728,500L -
WIPRO LTD.
 +1.03% ₹56,670,000L -
OIL & NATU. GAS CO.
 +0.88% ₹48,312,000L -
INFOSYS LTD.
 +0.85% ₹46,840,000L -
ULTRATECH CEMENT LTD.
 +0.85% ₹46,460,000L -
CANARA BANK
 +0.81% ₹44,698,500L -
360 ONE WAM LTD.(ERSTWHILE IIFL WEALTH MANAGEMENT LTD)
 +0.81% ₹44,552,000L -
SHRIRAM FINANCE LTD.
 +0.72% ₹39,447,375L -
HERO MOTOCORP LTD.
 +0.68% ₹37,203,750L -
BPCL
 +0.65% ₹35,698,125L -
BANK OF BARODA
 +0.65% ₹35,670,375L -
ICICI PRUDENTIAL LIFE INSURANCE COMPANY LTD.
 +0.60% ₹32,857,388L -
UNITED SPIRITS LTD.
 +0.56% ₹30,787,200L -
VOLTAS LTD.
 +0.51% ₹27,967,500L -
SWIGGY LTD
 +0.46% ₹25,364,625L -
Short Futures — Naked
Contract% NAVMkt ValueExpiry
COCHIN SHIPYARD LTD
 -0.43% ₹23,353,600L -
ETERNAL LTD.
 -0.56% ₹30,724,750L -
ANGEL ONE LTD.
 -0.78% ₹42,525,000L -
HYUNDAI MOTOR INDIA LTD.
 -0.78% ₹42,814,200L -
COFORGE LTD.
 -0.78% ₹43,053,000L -
FEDERAL BANK LTD.
 -0.79% ₹43,305,000L -
CHOLAMANDALAM INVT & FIN CO LTD.
 -0.80% ₹43,686,562L -
BAJAJ AUTO LTD.
 -0.84% ₹46,244,250L -
CUMMINS INDIA LTD.
 -0.87% ₹47,576,000L -
Naked (directional) futures short: 6.62% of NAV across 9 contract(s).
Portfolio Analysis
Updated May 2026
May 2026 — Monthly Update

Titanium Hybrid Long-Short Fund runs a mixed short book — hedged positions paired with equity longs, plus 6.62% in naked directional shorts across 9 futures contract(s). These represent direct bets on specific stocks or indices falling in price.

Net long exposure of 97.5% 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 (7.08%) adds further positioning.

March 2026 — Initial Coverage

Tequity initiated coverage of Titanium Hybrid Long-Short Fund with the March 2026 portfolio disclosure. Updated monthly as Titanium Asset Management 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: 97.46%. Gross exposure: 124.86%. Equity: 55.15%, Debt: 21.83%, Cash & Equiv: 22.99%, Options Short: 7.08%, Futures Short: 6.62%. Naked futures short: 6.62%. Total positions: 89.

March 2026

Net long: 107.98%. Gross exposure: 116.74%. Equity: 56.57%, Debt: 19.69%, Cash & Equiv: 23.90%, Options Short: 0.16%, Futures Short: 4.21%. Naked futures short: 4.21%. Total positions: 102.

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Fund Details
AMCTitanium Asset Management
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.97.5%
Gross Short ?Absolute value of all short positions. Includes hedged + naked shorts.13.7%
Naked Short ?Shorts with no matching long. Pure directional bets against specific stocks.6.62%
Gross Exposure ?Long book + |Short book|. Values above 100% indicate derivative leverage.124.9%
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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