The Nifty 50 and Sensex both dropped approximately 5.7% in September, marking the indices' worst September derivatives series in 25 years. Driven by surging oil prices, rising bond yields, and the threat of higher interest rates, foreign institutional investors (FIIs) snapped a two-month buying streak to pull Rs 25,662 crore out of Indian equities—their largest monthly outflow in six months.
According to NSDL data, total FII net sales for 2026 have now surpassed Rs 2.5 lakh crore.
Despite the broader market weakness, all 10 equity PMS strategies in the September rankings posted positive returns, ranging from 3.55% to 5.67%. Here’s what they held in their portfolios.
The top 10 equity portfolio management services (PMS) strategies delivered returns ranging from 3.55% to 5.67%. Amaltas Asset Management’s Keystone Fund topped the list with a 5.67% return, followed by East Green Advisors’ Quant Strategy at 5.32% and Atlas Integrated Finance’s Momentum 20 PMS Fund at 5.25%.
Amaltas Asset Management’s Keystone Fund had a 24.32% allocation to Sterlite Technologies, its largest holding. Antelopus Selan Energy accounted for 10.13%, Spandana Sphoorty Financial 7.34%, Muthoot Microfin 7.12% and Vedanta Oil and Gas 6.13%.
East Green Advisors’ Quant Strategy held Cupid as its largest position at 8.90%, followed by Sterlite Technologies at 7%, MTAR Technologies at 4.70%, Ather Energy at 4.10% and Bliss GVS Pharma at 4%.
Atlas Integrated Finance’s Momentum 20 PMS Fund had 11.93% invested in Cupid, 9.89% in Sterlite Technologies, 6.75% in MTAR Technologies, 6.40% in Laurus Labs and 6.08% in TD Power Systems.
Bonanza Portfolio’s Aegis strategy returned 5.14%. Its top holdings were Lloyds Engineering Works at 7.85%, GNG Electronics at 5.12%, Sterlite Technologies at 5.08%, Ceigall India at 4.65% and Indegene at 4.56%.
Centrum PMS’ Micro strategy, a small-cap fund, returned 4.31%. Venus Pipes & Tubes accounted for 7.97% of its portfolio, followed by Stylam Industries at 6.01%, Shreeji Shipping Global at 5.34%, Time Technoplast at 4.82% and Vishnu Chemicals at 4.68%.
Bharat Bhushan Equity Traders’ BB Money Plant delivered a 4.20% return. Its largest holding was Bajaj Finserv Nifty 1D Rate Liquid ETF at 13.88%, followed by Nippon India ETF Gold BeES at 8.79%, Shilpa Medicare at 5.31%, Wockhardt at 4.75% and ESDS Software Solution at 3.47%.
Qode Advisors’ Qode Growth Fund returned 3.90%. Its top holdings were Wheels India at 4.61%, West Coast Paper Mills at 4.44%, Filatex India at 4.10%, Steel Strips Wheels at 3.82% and Avadh Sugar & Energy at 3.68%.
Accelt Asset Management’s Long Term Equity Fund posted a 3.73% return. GNG Electronics was its largest holding at 8.85%, followed by Shivalik Bimetal Controls at 7.28%, Sigma Advanced Systems at 6.76%, Avalon Technologies at 6.48% and Syrma SGS Technology at 6.06%.
Fort Capital Investment Advisory’s Value Fund returned 3.65%. GMM Pfaudler accounted for 8.29% of its portfolio, followed by cash and cash equivalents at 7.99%, Magna Electro Castings at 7.67%, L.G. Balakrishnan & Bros at 5.86% and Wheels India at 5.35%.
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Prosperity Wealth Management’s Discovery Fund rounded out the list with a 3.55% return. Its top holdings were Talbros Automotive Components at 6.51%, Menon Bearings at 4.90%, Power Mech Projects at 4.67%, Leela Palaces Hotels and Resorts at 4.35% and Manappuram Finance at 4.35%.
Disclaimer: This article has been written by Veer Sharma, who is not a SEBI-registered Research Analyst or an Investment Adviser. Veer Sharma and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.
