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Carnelian Contra
Portfolio Strategy

A large-cap-biased multi-cap equity strategy following a contrarian, absolute-return approach to generate superior risk-adjusted returns across market cycles.

Inception
27 Jan 2022
Benchmark
BSE 500 TRI
Style
QGARP
Stocks
20–25
Type
Multi-Cap
Track Record
3+ Years

Performance Since Inception

Growth of ₹100 Invested

Total Return
162.7%
Absolute
Benchmark CAGR
13.9%
Annualized

₹100 invested in Jan 2022 has grown to ~₹263.

Returns Profile

Returns > 1 year are annualized (CAGR) and calculated on TWRR basis.

Market Allocation

LargeBias
Large Cap 58.7%
Mid Cap 9.8%
Small Cap 30.7%
Cash 0.8%

Sector Exposure

The portfolio maintains a strong large-cap bias while selectively investing in mid and small caps through a contrarian lens.
BFSI – Credit22.1%
Oil & Gas11.5%
IT10.6%
Auto & Ancillary9.5%
Chemicals7.9%
Metals7%
Pharma & CDMO6.8%
BFSI – Non-Credit5.6%
Consumption5.6%
Power4.9%

Top Holdings

1
Reliance Industries
11.5%
2
Kotak Mahindra Bank
9.6%
3
Bajaj Auto
7.2%
4
Infosys
7.0%
5
Vedanta
7.0%
6
Biocon
6.8%
7
Edelweiss Financial
5.6%
8
PVR Inox
5.6%
9
Punjab National Bank
5.3%
10
CESC
4.9%

Investment Approach

Contrarian, absolute-return focused investing

Preference for fundamentally strong businesses trading below intrinsic value

Large-cap bias to manage downside risk

Strong emphasis on governance and cash flows

Risk management through proprietary CLEAR forensic framework

Portfolio Attributes

Beta (SI)
1.0
Sharpe Ratio
1.5
Std Dev
13.9
ROE (FY27)
18.9%
Net Debt/Equity
0.2

Is this right for you?

Investors seeking a contrarian investing approach
Moderate to high risk appetite
Medium to long-term horizon (3+ years)
Preference for large-cap stability with selective alpha

Disclaimer: Past performance may or may not be sustained in the future. Returns are calculated on a TWRR basis and are not verified by SEBI. Investments are subject to market risks.