Sunil Singhania (Abakkus) Portfolio: March 2022

Sunil Singhania (Abakkus) Portfolio

Indian Market
by 5paisa Research Team Last Updated: 2022-08-08T19:03:21+05:30

Sunil Singhania is one of the most reputed names in the fund management segment and needs no introduction in stock market circles. He cut his teeth in Reliance Mutual Fund and as the former CIO of Reliance Mutual Fund, Sunil worked closely with Madhu Kela. The two were largely responsible in making Reliance Mutual Fund a formidable name.

After leaving Reliance Mutual Fund, Sunil Singhania currently runs the Abakkus Fund, but his moves are still tracked very closely due to his in-depth understanding and insights into mid-caps and small caps. His command has been over identifying future large caps, long before they become really visible in the markets.

As of the close of March 2022, Sunil Singhania (Abakkus) held 24 stocks in the portfolio with a market value of Rs.2,229 crore as of 30th April 2022 valuations. His portfolio has been almost flat on a sequential basis when you compare the Mar-22 portfolio value to the Dec-21 portfolio value.

Here is a quick snapshot of his top holdings in rupee value terms.
 

Stock Name

Percentage Holding

Holding Value

Holding Movement

Mastek Ltd

4.2%

Rs.354 crore

No Change

Jindal Stainless Hisar Ltd

3.8%

Rs.322 crore

Reduced in Q4

Route Mobile

2.8%

Rs.289 crore

No Change

Rupa & Company

3.2%

Rs.134 crore

Increased in Q4

Acrysil Ltd

6.2%

Rs.123 crore

Increased in Q4

Polyplex Corporation Ltd

1.4%

Rs.118 crore

No Change

Somany Home Innovation

3.7%

Rs.90 crore

No Change

IIFL Securities

3.2%

Rs.86 crore

Increased in Q4

HIL Ltd

2.7%

Rs.79 crore

Increased in Q4

Sarda Energy & Minerals

1.7%

Rs.73 crore

Increased in Q4

 

The top-10 stocks account for 74.8% of the value of the portfolio of Sunil Singhania (Abakkus) as of end Mar-22.


Stocks where Sunil Singhania (Abakkus) added to the holdings in Q4


Let us look at the fresh addition of stocks to his portfolio and to the stake enhancements in the Mar-22 quarter.

There were no new additions of fresh stocks made by Sunil Singhania (Abakkus) during the Mar-22 quarter, which was understandable considering that Mar-22 was a volatile quarter and most fund managers focused on value preservation amidst geopolitical volatility and Fed hawkishness rather than on value hunting.

There were about 10 stocks in which Sunil Singhania increased his positions in the Mar-22 quarter as compared to the Dec-21 quarter.
 

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He increased his stake in Rupa & Company by 120 basis points from 2.0% stake to 3.2% stake in the quarter and also hiked his stake in Dynamatic Technologies by 40 bps from 2.1% holding to 2.5% holdings.

In addition, there were several stocks in which Sunil Singhania added to his stake by appropriately about 10 bps. These stocks include Technocraft Industries, Sarda Energy and Minerals, Anup Engineering, Rajshree Polypack, HIL Ltd, IIFL Securities Ltd, Siyaram Silk Mills and Acrysil Ltd. 


What stocks did Sunil Singhania (Abakkus) downsize in his portfolio in Q4?


In the Mar-22 quarter, Sunil Singhania reduced his stake in a number of stocks and that could be more about cutting positions in the midst of the heightened market uncertainty and a shift to the alpha stocks in the mid-cap and small cap space. Here is the story of his reduction in stakes in the Mar-22 quarter. 

1. Stake in Surya Roshni  reduced by 20 bps from 1.4% to 1.2% holdings in the Mar-22 quarter compared to the Dec-21 quarter.

2. Stake in HSIL Ltd reduced by 20 bps from 2.1% to 1.9% holdings in the Mar-22 quarter compared to the Dec-21 quarter.

3. Stake in Jindal Stainless Hisar Ltd reduced by 20 bps from 4.0% to 3.8% in the Mar-22 quarter compared to the Dec-21 quarter.

4. Stake in Saregama India Ltd reduced by 10 bps from 1.5% to 1.4% in the Mar-22 quarter compared to the Dec-21 quarter.

5. Stake in Paras Defence & Space Technologies reduced by 10 bps from 1.5% to 1.4% in the Mar-22 quarter compared to the Dec-21 quarter.

6. Stake in ADF Foods Ltd  reduced by 10 bps from 1.7% to 1.6% in the Mar-22 quarter compared to the Dec-21 quarter.

Other than the above transactions of hiking and cutting stakes in stocks, the holdings of Sunil Singhania remained static in other stocks compared to the Dec-21 quarter.


Sunil Singhania (Abakkus) Portfolio Performance in retrospect


How did the portfolio perform as of the end of March 2022 quarter compared to different time frames in the past. His portfolio currently stands at Rs.2,229 crore but the portfolio reporting only began over the last 3 years. Since the portfolio has also been a subject of fund inflows, we only look at returns over the last one year.

Between Mar-21 and Mar-22, the portfolio value has gone up from Rs.1,337 crore to Rs.2,229 crore. That translates into annualized portfolio appreciation of 66.7%. That is still much lower compared to the one year returns in the Sep-21 close as well as the 3 digit returns earned in the Dec-21 quarter.

However, that is understandable considering the sharp fall in the markets amidst volatile conditions. The focus has been on preserving capital and growing gradually, rather than hunting too aggressively for alpha.

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