Sameeksha Capital Portfolio

Overview of Sameeksha Capital

Sameeksha Capital provides Wealth Management as well as Equity portfolio management (PMS) services to discerning Institutions, entrepreneurs, families and Individuals.  They have made upfront investments to develop best-in-class research capabilities and time tested processes. When a capable team follows such processes, they are likely to deliver differentiated as well as valuable outcomes for their clients. Transparency, Integrity, Objectivity and Hard Work are at core of their value system. Most importantly, they believe in being rewarded for performance above everything else.

Founder’s Philosophy of Sameeksha Capital

Sameeksha Capital’s founder, Mr. Bhavin Shah, believes AI can help navigate data more easily but cannot fundamentally identify good companies. The team uses technology to improve research efficiency and study more companies in less time. However, reading between the lines of conference call transcripts remains beyond AI’s capability. This is where the 140-point checklist and rules-based investment approach help Sameeksha spot good opportunities at the right valuations across large, mid, and small caps.

Investment Approach of Sameeksha Capital

Sameeksha follows a market-cap-agnostic portfolio management style. Its aim is to identify mispriced large caps and less-researched small caps.

The PMS maintains disciplined diversification with a limit on the number of stocks it holds. It avoids a model portfolio strategy, instead customizing each investor’s portfolio. This customization is possible thanks to in-house technology and software.

Differentiating Factors

Like other PMS providers, Sameeksha invests in businesses with growth potential, predictable earnings, and a clear understanding of operations. What sets it apart is its unique valuation strategy, which differs from the typical Growth at Reasonable Price (GARP) approach.

Risk-Return Expectations and Cash Strategy

Sameeksha Capital recognizes that for large companies like HUL, accepting around 10% CAGR is reasonable. However, when it adds higher risk through small-cap, illiquid companies, it does so with the expectation of achieving 20–25% CAGR. The PMS targets absolute returns, and if it does not find an investible company, it holds cash. And, it also means that in the exceptional scenarios, where valuations look stretched, it books profits and aims to increase cash.  Keeping this in mind, Sameeksha avoids keeping too ill-liquid a portfolio.