Portfolio Updates for April
| Instrument | Avg. cost | LTP | Net chg. | % Allocation | % PF | Type |
|---|---|---|---|---|---|---|
| IDFCFIRSTB | 35.34 | 56.75 | 60.57 | 0.134178335 | 0.1349174315 | Core |
| NEULANDLAB | 1285.25 | 2682.9 | 108.75 | 0.0950147904 | 0.1241922322 | Core |
| VAIBHAVGBL | 486.76 | 996.7 | 104.76 | 0.09030135267 | 0.1157791021 | Core |
| RACLGEAR | 120.16 | 246.55 | 105.18 | 0.07458434209 | 0.09582505909 | Core |
| MASTEK | 1208.36 | 1973.7 | 63.34 | 0.08798215111 | 0.08998408854 | Core |
| SEQUENT | 185.77 | 290.55 | 56.41 | 0.06996278318 | 0.06851706036 | Core |
| LAURUSLABS | 314.92 | 487.45 | 54.79 | 0.06984335606 | 0.06769261274 | Core |
| SAREGAMA | 1651.73 | 1975 | 19.57 | 0.07925473751 | 0.05933891764 | Core |
| AXTEL | 235.42 | 301.8 | 28.19 | 0.06088086547 | 0.04887007923 | Core |
| DYNPRO | 301.61 | 509.05 | 68.78 | 0.04509913939 | 0.04766167545 | Core |
| NCC | 34.84 | 76.75 | 120.31 | 0.0330456875 | 0.04558283944 | Core |
| POKARNA | 222.5 | 252.25 | 13.37 | 0.05958802297 | 0.04230059552 | Core |
| ANGELBRKG | 550.02 | 560.65 | 1.93 | 0.05830688048 | 0.03721512625 | Core |
| ARMANFIN | 653.92 | 550.65 | -15.79 | 0.04195755616 | 0.02212318001 | Core |
| Growth in Capital Deployed | 0% | ||||||
|---|---|---|---|---|---|---|---|
| Total Returns | 71% |
Few very interesting updates:
- In the interest of style diversification, I have decided to experiment with a couple of smallcases. I have subscribed to Abhishek basumallick sir’s Q30 smallcase which is a quant small case with momentum+fundamentals based strategy. I have very high respect and regard for abhishek sir and expect to learn more from his Quantamental newsletters while also letting my capital compound well.
- The second smallcase I invested is in Negen PMS’s Neil’s Tech+opportunistic smallcase. I’ve been following Neil bhai on twitter for quite some time now. A LOT of companies he invests in are of special interest to me. I thought there could not be a better opportunity to learn from someone while also investing in a theme that I believe in and compounding my money well.
- Due to these factors I have not grown my own PF at all this month, since capital is limited.
- I also had to go through covid for last 3 weeks. things got a bit out of hand and had to get admitted to a hospital due to low oxygen and very high fever even on the 12/13th day. Thankfully doing much better now and recouping @ home. I mention this on my PF thread because I had to make some large purchases (oxygen concentrators which were being sold for 3x the usual price) by dipping into my emergency funds which will also need to be replenished. Capital deployed into PF might not grow a lot in coming few months.
- I decided to sell out of astec. Astec has a bright future and will grow bottomline at 20% for many years. In general i liked their Q4 commentary and like the direction company is going in. However, I want to have high allocation to my top picks and hence over time want to reduce PF size as much as possible. Astec seemed like the most obvious candidate being quite highly valued at 4x sales and with growth which IMV pales in comparison to the company to which I switched capital (next point).
- I decided to deploy astec funds (and then some) into Angel broking. The more i read about angel the more i realize how absolutely under a rock I have been living. Indian equity markets are full of such amazing transformation stories that just need our research to uncover. Will try to start a VP thread on angel when i feel better/stronger mentally (still recovering from covid physically and mentally). While most brokerages were losing customers to zerodha in 2020, angel was only one able to grow similar to zerodha. They are focussing on market share gains which will translate into high topline growth for 2-3 years at least. They are cognizant of the somewhat cyclical nature of broking and are working to apply for an AMC license. Their vision for AMC (smart beta, ETFs, algorithmic/quant ETFs) is also something i agree with (this is the future). The new CEO, Narayan is an absolute tech giant and is the ex CTO of ola and ex head of engineering at Uber. Has worked at Google too. His leadership will transform angel from a broking to a true fintech. First time I heard an indian CEO talk about 4 9s reliability being a top level goal. Angel has not even started the distribution of MF and insurance yet. This cross selling will directly add to the bottomline and hence large operating leverage will play out. My PF sizing here is not at all proportional to conviction. Reason I have started with a small position is that i am not a hasty person. I will continue to study and build the position over next few weeks.
- Results season is going on and companies are performing phenomenally, including PF companies. Will post complete analysis post all results declaration. IDFC First, Angel broking, Laurus Labs, Mastek and Astec (ex company) and embassy have all given stellar results.
- I stopped tracking embassy here in the table simply because capital appreciation is not really the point there. I liked embassy’s Q4 commentary and remain bullish on the long term prospects of REITs
Disc: This is not buy or sell advice. Only a catalog of my thoughts and decisions. Nobody should construe this as investment advice.