Public Portfolio
Transparent. Auditable. Educational.
About This Portfolio
This portfolio exists to demonstrate transparency in financial research. It documents real, executed investment decisions — not hypothetical or back-tested scenarios — along with the reasoning behind each one and the outcome that followed.
Readers are encouraged to evaluate our process, not to imitate this portfolio. Every decision shown here reflects an individual case study, not a recommendation for any other investor's circumstances.
This page is provided for educational reference. The Google Sheet linked above remains the official, continuously updated source of truth — this page is a periodic summary of that record.
What Changed
Since the Last Update (30/09/2026)
Portfolio value grew by ₹3,040.52 (+4.1%) , with ₹6,912.5 of new capital deployed since the last published snapshot.
Price Moves Since Last Update
- MON100-E — ₹321.15 → ₹285.17 (-11.2%)
- Varun Beverages (VBL) — ₹432 → ₹392 (-9.3%)
- BIRET-RR — ₹336.03 → ₹314.7 (-6.3%)
- EIHOTEL — ₹302.75 → ₹286.6 (-5.3%)
- ADANIPORTS — ₹1,798.3 → ₹1,850 (+2.9%)
- HDFCBANK — ₹708.7 → ₹692.3 (-2.3%)
- ITC — ₹262.75 → ₹265.6 (+1.1%)
Portfolio Snapshot
At a Glance
Total Capital Invested
₹78,320.25
Current Portfolio Value
₹77,907.07
Unrealised Gain
₹-413.18
Transaction Costs Paid
₹90.45
Average Holding Period
179 days
Cash Balance
₹11,079.17
Total Portfolio Value
₹88,986.24
Current Holdings
What We Currently Hold
| Stock | Units | Average Buy Price | Current Price | Weight | Contribution to P&L | Days Held |
|---|---|---|---|---|---|---|
| ADANIPORTS | 4 | ₹1,542.1 | ₹1,850 | 7.9% | ₹1,231.6 (-298.1%) | 260 days |
| BIRET-RR | 100 | ₹328.84 | ₹314.7 | 42.0% | ₹-1,413.75 (+342.2%) | 191 days |
| EIHOTEL | 62 | ₹304.83 | ₹286.6 | 24.1% | ₹-1,130.15 (+273.5%) | 242 days |
| HDFCBANK | 11 | ₹696.75 | ₹692.3 | 9.8% | ₹-48.95 (+11.8%) | 170 days |
| MON100-E | 21 | ₹229.5 | ₹285.17 | 6.2% | ₹1,169.07 (-282.9%) | 255 days |
| Varun Beverages (VBL) | 6 | ₹429.5 | ₹392 | 3.3% | ₹-225 (+54.5%) | 94 days |
| ITC | 20 | ₹265.4 | ₹265.6 | 6.8% | ₹4 (-1.0%) | 38 days |
Weight reflects capital deployed (cost basis) as a share of total capital invested — this differs from the allocation chart below, which weights by current market value. Days held is measured from the earliest matching buy in the trade log, including positions built across multiple tranches, as of the last-updated date above.
Portfolio Composition
How the Portfolio Breaks Down
The same holdings shown above, visualised two ways — allocation by current value, and performance since entry.
Allocation by Value
Gain / Loss Since Entry
Reflects price movement since average entry, before transaction costs. Bar length is scaled to the largest mover for readability.
Cost Basis vs Current Value
Allocation by Theme
Allocation by Role
Core = broad-market, systematic holdings. Satellite = individual businesses and REITs.
Portfolio Growth
Capital Deployed vs Portfolio Value
Tracked across each published Ledger issue — how much capital has been committed, against what it's worth today.
Investment Framework
Our Operating Principles
- No stock tips, ever.
- No speculative trades within the core framework.
- Every decision documented in writing, before and after the fact.
- Long-term investing over short-term positioning.
- Evidence over opinions.
- Transparency over promises.
Recent Transactions
Trade Log
| Date | Security | Action | Units | Price | Rationale |
|---|---|---|---|---|---|
| 12/02/2026 | ADANIPORTS | BUY | 4 | ₹1,542.1 | Long-term infrastructure holding to track multi-port cargo volume trends and maritime logistics capacity utilization. |
| 17/02/2026 | MON100 | BUY | 21 | ₹232.2 | Same-day intraday position, outside the core framework — see note below. |
| 17/02/2026 | MON100 | SELL | 21 | ₹228.76 | Compliance baseline failure. Executed a short-term speculative position outside the scope of the core fundamental framework — auto-squared off at a net loss. Served as a structural check that led us to permanently eliminate non-framework trading. |
| 18/02/2026 | MON100 | BUY | 21 | ₹229.5 | Geographic and currency diversification via a systematic passive vehicle tracking global technology earnings cycles. |
| 02/03/2026 | EIHOTEL | BUY | 26 | ₹307.25 | Fundamental positioning in premium luxury hospitality to analyze performance relative to average room rates (ARR). |
| 07/04/2026 | EIHOTEL | BUY | 10 | ₹297.6 | Fundamental positioning in premium luxury hospitality to analyze performance relative to average room rates (ARR). |
| 22/04/2026 | BIRET | BUY | 75 | ₹329.94 | Capital deployment into a high-yielding real estate proxy to establish a non-equity baseline cash flow stream. |
| 11/05/2026 | BIRET | BUY | 25 | ₹325.53 | Capital deployment into a high-yielding real estate proxy to establish a non-equity baseline cash flow stream. |
| 13/05/2026 | HDFCBANK | BUY | 1 | ₹751.75 | Single-unit transaction for framework configuration testing. Planned tranche-based scaling was paused due to upward price momentum beyond the target entry range. |
| 20/05/2026 | EIHOTEL | BUY | 8 | ₹324.98 | Fundamental positioning in premium luxury hospitality to analyze performance relative to average room rates (ARR). |
| 28/07/2026 | Varun Beverages (VBL) | BUY | 6 | ₹430 | VBL fell around 8% on 28/07/26 following its Q2 results. This decline presented a reasonable entry point given the business's ongoing segment expansion. |
| 17/08/2026 | EIHOTEL | BUY | 16 | ₹296.29 | Added on continued weakness in the stock, maintaining the existing thesis around ARR-driven fundamentals in premium hospitality. |
| 26/08/2026 | EIHOTEL | BUY | 2 | ₹299.97 | Small top-up during a further dip, keeping average cost aligned with the ongoing entry range for the position. |
| 22/09/2026 | ITC | BUY | 20 | ₹265.4 | Satellite position. Long-term view on ITC's cash generation and dividend-paying capacity, initiated while the higher cigarette excise duty (in force since 1 Feb 2026) weighs on near-term sentiment; the tax impact on volumes and margins is being monitored. Also adds large-cap FMCG exposure to a portfolio concentrated in hospitality and REIT positions. |
| 08/10/2026 | HDFCBANK | BUY | 10 | ₹691.25 | Tranche purchase to build a core position in the Indian banking sector, which the portfolio held only through a single test unit until now. HDFC Bank was chosen as a leader in the private banking space. This resumes the tranche-based scaling paused in May 2026: holding now 11 units at an average cost of ₹696.75. |
Performance Summary
The Numbers
Total Capital Invested
₹78,320.25
Realised P&L
₹-76.03
Unrealised P&L
₹-413.18
Transaction Costs
₹90.45
Auto Square-off Charge
₹59
What Every Rupee Paid For
Understanding Transaction Costs
STT
Securities Transaction Tax — a government tax on every buy. For delivery trades: 0.1% of trade value. This cannot be avoided.
Brokerage
Our broker charges ₹0 on delivery trades but ₹20 per order on intraday trades. Amounts under ₹1 reflect minimum fee thresholds.
Exchange Charges
A fee charged by NSE/BSE for using their trading platform. Very small — typically 0.003% of trade value.
GST
18% GST is applied only on brokerage and exchange charges — not on the trade value itself.
Stamp Duty
A state government charge applied on buy trades. 0.015% of trade value, capped at ₹1,500.
SEBI Fees
A small regulatory fee charged by SEBI — typically ₹10 per crore of turnover.
Auto Square-off Fee
A one-time ₹59 charge, applied when an intraday position is automatically closed by the broker at day's end.
Why This Exists
Our Reasoning
Financial research should be verifiable.
Claims are easy to make. A public, dated record is harder to dispute — and easier to learn from.
Publishing outcomes builds accountability.
When results are visible to everyone, including the mistakes, there's nowhere for selective reporting to hide.
Readers deserve evidence, not claims.
We would rather show you what actually happened than tell you what we believe will happen.
Transparency improves research discipline.
Knowing every decision will be public is, by itself, a strong incentive to think more carefully before making it.
This page is a periodic summary. For the live, continuously updated ledger, refer to the source document.
View the complete record in The Public Ledger ↗