Launching Windmill Capital’s Global smallcases

Windmill Capital has helped 1Lakh+ Indian retail investors navigate markets with data, discipline, and a research-first approach. Today, we’re taking that same philosophy global. 

Why global smallcases?

Global investing has become an essential part of the Indian retail investor’s portfolio as it offers geographic and currency diversification, which helps protect the portfolio from domestic market volatility and the long-term depreciation of the Indian Rupee against major currencies like the US Dollar. While the Indian market offers strong growth potential, restricting investments strictly within domestic borders creates concentration risk and limits exposure to certain high-growth sectors. By allocating a portion of their portfolio to international markets, investors can gain direct access to themes shaping the next decade: AI infrastructure, semiconductors, robotics, clean energy, cybersecurity, longevity science, nuclear power, and critical minerals, which are either absent or underrepresented on the Indian stock exchanges. Ultimately, this strategy builds a more resilient, balanced, and globally aligned long-term wealth creation portfolio.

What we’re launching

We’re starting with 10+ global smallcases, each built around a specific, high-conviction theme.

The Longevity Code Theme

Global Nuclear Renaissance Theme

Global Cleantech Theme

Global Commodity Rotation Quant

Global Financial Ecosystem Theme

Global Country Rotation Quant

Global Cyber Security & Quantum Computing Theme

Global Humanoids & Robotics Theme

Global Demographic Barbell Theme

Global AI – Power & Data Centre Layer Theme

Global AI – Frontier Models Layer Theme

Global AI – Chip & Hardware Layer Theme

Global Safe Havens Theme 

Global Attention Economy

Collection to see all the smallcases here.

Every basket is put together using the most efficient instruments available for that theme. This gives you diversified exposure to an idea instead of a bet on one company, transparency into what you actually hold, and genuine global reach, since the underlying businesses span multiple geographies. In practice, that means selecting ETFs evaluated on thematic purity, index construction methodology, underlying holdings composition, and geographic exposure, including in-depth holdings and overlap analysis against competing ETFs, so each fund captures a distinct, non-overlapping segment of the theme rather than duplicating another fund’s exposure.

How it’s rebalanced

Each smallcase has a fixed rebalancing schedule. Periodically, Windmill Capital’s research team reviews the smallcase and constituent rebalancing in line with the strategy for the next period. The review checks two things: whether each constituent still captures its segment distinctly (no new overlap with another holding), and whether the equal-risk weights have drifted as the constituent’s individual volatilities have moved.

With global smallcases, the automatic rebalance feature has been made available. This feature is switched on by default, so when the model portfolio is updated, the corresponding buy and sell orders are placed for you, and your holdings stay aligned with the strategy. You can switch it off when placing your order, or later from the invested smallcase profile; in that case, you’ll need to review and apply each update yourself as part of a manual ‘Manage’ order.

Our research philosophy, unchanged

Rigorous data analysis remains foundational to our portfolio construction methodology, even as our investment universe expands. Every Windmill Capital smallcase, whether sector-focused, quantitative, or utilising smart-beta strategies, is anchored in a quantamental approach that integrates rules-based screening with fundamental analysis. Our global portfolios adhere strictly to these established standards. We maintain our core disciplines: thesis-driven portfolio construction, systematic rebalancing, and complete transparency regarding holdings and their underlying rationale. While our geographical scope has broadened, our commitment to analytical rigour remains steadfast 

How to get started

Global smallcases are available on the smallcase app. Look for “US Stock Portfolios” on the Search tab to see the full list, then open any basket to review its rationale, holdings, and minimum investment amount before deciding.

If this is your first global investment, you’ll go through a one-time onboarding:

• Complete KYC: Verify your identity using PAN, Aadhaar, and DigiLocker.
• Link a bank account: Connect your bank account to a dedicated global investment account, held separately from your regular Indian demat account.
• Add funds: Load money into your global investment account to fund your first investment.
• Place your order: With the account funded, review the basket and invest.

If you’ve already opened an account on Tickertape for US stocks, you can skip straight to placing an order.

Each basket profile lets you toggle between viewing amounts in ₹ or $, so you can decide in whichever currency you think in. Once you invest, orders are placed in USD when the US market opens.

Explore our global smallcases and start building your global portfolio today.