Over the past few months, I have made significant changes to my portfolio. In-line with my portfolio allocation strategy, I have simplified the structure into 5 kind of bets (core compounder, cyclical, slow grower, turnaround and deep value). I am sharing the current model portfolio structure.
Core compounder (44%)
| Companies | Weightage |
|---|---|
| I T C Ltd. | 8.00% |
| Housing Development Finance Corporation Ltd. | 4.00% |
| NESCO Ltd. | 4.00% |
| Manappuram Finance Ltd. | 4.00% |
| Alembic Pharmaceuticals Ltd. | 4.00% |
| Amara Raja Batteries Ltd. | 4.00% |
| Avanti Feeds Ltd. | 4.00% |
| Eris Lifesciences Ltd. | 4.00% |
| Ajanta Pharmaceuticals Ltd. | 2.00% |
| HDFC Bank Ltd. | 2.00% |
| HDFC Asset Management Company Ltd | 2.00% |
| PI Industries Ltd. | 2.00% |
Cyclical (12%)
| Companies | Weightage |
|---|---|
| Kolte-Patil Developers Ltd. | 4.00% |
| Ashiana Housing Ltd. | 2.00% |
| Ashok Leyland Ltd. | 2.00% |
| SWARAJ ENGINES LTD. | 2.00% |
| National Aluminium Co. Ltd. | 1.00% |
| Jamna Auto Industries Ltd. | 1.00% |
Slow grower (8%)
| Companies | Weightage |
|---|---|
| Power Grid Corporation of India Ltd. | 4.00% |
| Cochin Shipyard Ltd. | 4.00% |
Turnaround (6%)
| Companies | Weightage |
|---|---|
| CARE Ratings Ltd. | 4.00% |
| Lupin Ltd. | 2.00% |
Deep value (6%)
| Companies | Weightage |
|---|---|
| SJVN Ltd. | 1.00% |
| ATUL AUTO LTD. | 1.00% |
| Jagran Prakashan Ltd. | 1.00% |
| D.B.Corp Ltd. | 1.00% |
| Time Technoplast Ltd. | 1.00% |
| RACL Geartech Ltd | 1.00% |
Cash is a little bit high at 24% and I am looking to deploy it soon.
The broad changes are summarized below:
- New additions: Alembic Pharma (4%), Cochin Shipyard (4%), Eris Life (4%), Swaraj Engines (2%).
- Exits due to valuations: HCL Tech, L&T, Maruti, Suprajit, Nippon asset management, Cera sanitaryware, Wonderla Holidays, Maithan alloys, Cadila Healthcare, Inox leisure, Jubilant Ingrevia, Natco pharma
- Increased position size: ITC (from 6 to 8%), Avanti feeds (2 to 4%), Amara Raja (2 to 4%), Care ratings (3 to 4%) and Ashok Leyland (from 1 to 2%)
- Decreased position size: PI Ind (from 6 to 2%), Powergrid (6 to 4%), Ajanta (4.5 to 2%), Ashiana (4.5 to 2%), HDFC Amc (3 to 2%), Nalco (2 to 1%)
Among new positions, I have already shared my assumptions about alembic pharma. I will subsequently add my thesis for Cochin Shipyard, eris life and swaraj engines.