Cupid, Sterlite Tech feature in September’s top equity PMS

Amaltas Asset Management’s Keystone Fund topped the September 2026 equity portfolio management services (PMS) rankings with a 5.67% return, according to Economic Times Markets’ October 19 report. All 10 strategies in the reported leading group gained between 3.55% and 5.67%, even as the Nifty 50 and Sensex each fell approximately 5.7% over the September derivatives series.

Sterlite Technologies was a prominent shared holding: it appeared among the leading positions disclosed for Keystone, East Green Advisors’ Quant Strategy, Atlas Integrated Finance’s Momentum 20 PMS Fund and Bonanza Portfolio’s Aegis strategy. Cupid was the largest holding in both Quant Strategy and Momentum 20.

These are results for the reported top-performing group, not the equity PMS industry as a whole. The report does not specify whether returns are before or after fees, or provide the full ranking methodology. Its benchmark comparison also refers to the September derivatives series, which should not automatically be treated as identical to a calendar-month return period.

Keystone’s largest position was Sterlite Technologies

Keystone allocated 24.32% of its portfolio to Sterlite Technologies—close to a quarter of the fund. Its next four disclosed holdings were Antelopus Selan Energy at 10.13%, Spandana Sphoorty Financial at 7.34%, Muthoot Microfin at 7.12% and Vedanta Oil and Gas at 6.13%.

East Green Advisors’ Quant Strategy ranked second with a 5.32% return. Cupid accounted for 8.90% of its portfolio, 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 returned 5.25%. Its allocation to Cupid was 11.93%, followed by Sterlite Technologies at 9.89%, MTAR Technologies at 6.75%, Laurus Labs at 6.40% and TD Power Systems at 6.08%. The reported holdings establish portfolio exposure; they do not establish how much each stock contributed to the monthly returns.

The other seven strategies and their holdings

Bonanza Portfolio’s Aegis strategy gained 5.14%. Its leading 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’ small-cap Micro strategy returned 4.31%. Venus Pipes & Tubes was its largest disclosed position at 7.97%, 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 gained 4.20%. Its two largest disclosed positions were exchange-traded funds: Bajaj Finserv Nifty 1D Rate Liquid ETF at 13.88% and Nippon India ETF Gold BeES at 8.79%. Shilpa Medicare accounted for 5.31%, Wockhardt for 4.75% and ESDS Software Solution for 3.47%.

Qode Advisors’ Qode Growth Fund returned 3.90%. Its leading positions 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% gain. GNG Electronics led its holdings 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, cash and cash equivalents for 7.99%, Magna Electro Castings for 7.67%, L.G. Balakrishnan & Bros for 5.86% and Wheels India for 5.35%.

Prosperity Wealth Management’s Discovery Fund completed the list with a 3.55% return. Its leading holdings were Talbros Automotive Components at 6.51%, Menon Bearings at 4.90%, Power Mech Projects at 4.67%, and Leela Palaces Hotels and Resorts and Manappuram Finance at 4.35% each.

Foreign selling accompanied the market decline

The report described the benchmark slide as the weakest September derivatives series in 25 years, linking the pressure to rising oil prices, higher bond yields and concerns about further interest-rate increases.

Foreign institutional investors withdrew ₹25,662 crore from Indian equities during September, ending two months of net buying and recording their largest monthly outflow in six months. Citing NSDL data, the report put cumulative foreign institutional net sales in 2026 at more than ₹2.5 lakh crore.

A single month’s ranking does not establish a strategy’s long-term performance or suitability for an investor. The portfolio figures are reported holdings, not recommendations to buy the named securities.