Jefferies' Chris Wood Adjusts Portfolio: New Stocks and Sector Allocations
Chris Wood, the global head of equity strategy at Jefferies, has made significant changes to the brokerage's India long-only equity portfolio. After selling off Reliance Industries and Axis Bank, he has added new stocks in various sectors. Check the full list of stocks and their allocations.
PortfolioEquityStocksJefferiesChris WoodReal Estate NewsSep 20, 2025
The financial sector remains a significant part of the portfolio. ICICI Bank, HDFC Bank, and State Bank of India each hold a 4% weight. SBI Life Insurance, with a 6% weight, is the highest in this category, followed by REC Limited and PolicyBazaar (PB Fintech) with 4% and 5% weights, respectively. Manappuram Finance and Home First Finance also feature with 4% allocations.
In the real estate, infrastructure, and cement sectors, DLF and Macrotech Developers each have a 4% weight. Adani Ports & Special Economic Zone and GMR Airports Infrastructure also carry a 4% weight, while Ambuja Cements, owned by the Adani Group, rounds off this basket with a 4% weight.
The industrials and energy sector includes ABB India and JSW Energy, both with a 4% weight. These stocks have faced significant price drops year-to-date, down over 20% and 15%, respectively.
In the consumer and telecom sectors, Zomato and Bharti Airtel have been given 4% and 5% weights, respectively. Zomato has seen a surge of over 50% in the last six months, while Bharti Airtel shares have gained 23% year-to-date.
The travel and hospitality sector includes MakeMyTrip, Le Travenues Technology (Ixigo), Lemon Tree Hotels, and InterGlobe Aviation (IndiGo), each with a 4% weight. These stocks have shown mixed performance, with Ixigo and Lemon Tree Hotels performing particularly well.
In the automobile sector, TVS Motor Company and Mahindra & Mahindra each hold a 4% weight. TVS Motor Company has seen a 26% increase in its stock price over the last year, while Mahindra & Mahindra shares have risen 30% in the last six months.
These adjustments reflect Chris Wood's strategic approach to diversifying the portfolio and capitalizing on sectors with strong growth potential. Investors should keep an eye on these stocks and the overall performance of the portfolio in the coming months.
Frequently Asked Questions
What changes did Chris Wood make to the Jefferies India long-only equity portfolio?
Chris Wood sold the entire stake in Reliance Industries and Axis Bank, reduced investments in ICICI Bank, REC, and JSW Energy, and added new stocks such as Ambuja Cements, Le Travenues Technology (Ixigo), and Lemon Tree Hotels, each with a 4% weighting.
Which sectors are represented in the new portfolio?
The new portfolio includes sectors such as financials, real estate, infrastructure, cement, industrials, energy, consumer, telecom, travel, hospitality, and automobiles.
What is the highest weight assigned to a stock in the portfolio?
The highest weight assigned to a stock in the portfolio is 6%, given to SBI Life Insurance.
How has the performance of the stocks in the portfolio been year-to-date?
The performance of the stocks in the portfolio has been mixed. Some stocks like SBI Life Insurance and Manappuram Finance have seen significant gains, while others like REC Limited and ABB India have faced declines.
What is the strategic approach behind these portfolio adjustments?
The strategic approach behind these portfolio adjustments is to diversify the portfolio and capitalize on sectors with strong growth potential, reflecting Chris Wood's focus on long-term value and market trends.
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