Carnelian Contra Portfolio Strategy
Fund Snapshot
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Objective
Generate superior risk-adjusted return by following a contrarian absolute return approach
Strategy
Multi-cap with 60% large-cap bias, sector-agnostic portfolio designed to capture:
- Structural growth story with temporary dislocation
- Businesses facing unfavourable cycle
- Deep value stocks with good dividends
- Special situations like demerger, open offers, acquisitions, etc.
- Portfolio of 20-25 stocks filtered through carnelian forensic lens; benchmarked against BSE 500 TRI
- Actively managed portfolio with a long-term approach
Offerings
- ~12%-15%+ expected 3-year earnings CAGR
- ROE > ~15%
- D/E < ~1.5
- Likely margin expansion
- Dividend yield ~3-4%
- Portfolio beta < 1
Investment Framework
Quality
- Business (PROFITS)
- Management (IMPRESS)
Growth
- Magic – accelerated earnings growth & valuation re-rating
- Compounder – stable earnings growth
Forensic Analysis – CLEAR
- Cash flow analysis
- Liability analysis
- Earnings quality analysis
- Asset quality analysis
- Related party & governance issues
Valuation
- Reasonable valuation
- relative to growth
Risk Factors
- Reversal of business cycle taking longer than expected
- Re-rating of deep value stocks taking longer
- Temporary dislocation in business may later become permanent dislocation
- Periods of underperformance:
- Absolute return-oriented approach may lead to underperformance with benchmark
The Competitive Advantage
- Independent, entrepreneurial boutique with a reputed board of advisors
- Long-term approach with high active share (differentiated portfolio)
- Concentrated QGARP portfolio – Quality Growth companies (Business & Management) at a Reasonable Price
- Offers a unique blend of companies with accelerated and sustainable growth
- Proprietary forensic analysis
- Known for identifying larger themes, trends /stocks early
PEOPLE
- Founders are industry veterans with strong complementary skill sets
- Deep understanding of capital markets & businesses
- Strong relations with corporate India/industry
- Team of 70 passionate/driven professionals
- 100% founder owned – skin in the game
PROCESS
- Unique forensic framework – “CLEAR”
- Focus on quality
- Screen for red flags
- Disciplined investment process
- Differentiated approach to risk management
- Processes driven by core values.
Investing With Clarity, Not Complexity
Markets can feel overwhelming. Your portfolio shouldn’t. At AltPort, we simplify the noise and focus on what drives long-term results. Every recommendation is clear, deliberate, and built on frameworks that minimise confusion. If you want investing to feel more transparent, structured, and empowering, our process brings the clarity you’ve been missing.
