Mutual fund · Flexi Cap
HDFC Flexi Cap Fund
₹1,08,547 cr across 79 positions, as filed for 2026-09-30. Returns are the fund's AMFI growth-plan NAV; holdings and behavior come from its filed monthly portfolios.
Returns, against the category
Q2 FY27: −2% over 1 year against the median Flexi Cap fund's +1%.
| Over | Quarter | 1 year | 3 years (ann.) | 5 years (ann.) |
|---|---|---|---|---|
| HDFC Flexi Cap Fund | −2% | −2% | +14% | +15% |
| Median Flexi Cap fund | −2% | +1% | +10% | +9% |
+31%Q3 FY24+43%Q4 FY24+44%Q1 FY25+46%Q2 FY25+23%Q3 FY25+15%Q4 FY25+11%Q1 FY26+3%Q2 FY26+11%Q3 FY26−2%Q4 FY260%Q1 FY27−2%Q2 FY27
What moved the fund, last 12 filed months
Contribution = the fund's filed weight each month × that stock's price move in its own filings, in percentage points of NAV. Corporate-action months are left out.
| Stock | 12 months | Latest month |
|---|---|---|
| Axis Bank Ltd. | +1.3 pp | −0.4 pp |
| State Bank of India | +0.9 pp | −0.4 pp |
| Eternal Limited | +0.8 pp | −0.1 pp |
| Kotak Mahindra Bank Limited | +0.6 pp | −0.0 pp |
| Divis Laboratories Ltd. | +0.5 pp | −0.0 pp |
| Stock | 12 months | Latest month |
|---|---|---|
| HDFC Bank Ltd. | −1.9 pp | −0.0 pp |
| Infosys Limited | −0.5 pp | −0.1 pp |
| Cipla Ltd. | −0.5 pp | −0.1 pp |
| HCL Technologies Ltd. | −0.5 pp | −0.2 pp |
| Hyundai Motor India Limited | −0.4 pp | −0.1 pp |
Holdings, as filed for 2026-09-30
| Holding | Sector | % of fund | Value | Held for | Vs avg cost |
|---|---|---|---|---|---|
| ICICI Bank | Financial Services | 8.80% | ₹9,547 cr | 46 mo | +24% |
| Axis Bank | Financial Services | 6.11% | ₹6,633 cr | 46 mo | +15% |
| HDFC Bank | Financial Services | 6.03% | ₹6,545 cr | 46 mo | -12% |
| State Bank of India | Financial Services | 3.94% | ₹4,277 cr | 46 mo | +29% |
| Eternal Ltd | Consumer Services | 3.46% | ₹3,752 cr | 10 mo | +29% |
| Kotak Mahindra Bank Limited | Financial Services | 3.40% | ₹3,693 cr | 35 mo | +19% |
| SBI Life Insurance Company Limited | Financial Services | 3.25% | ₹3,531 cr | 46 mo | +26% |
| Larsen & Toubro Limited | Construction | 3.08% | ₹3,338 cr | 46 mo | +1% |
| InterGlobe Aviation Limited | Services | 2.99% | ₹3,251 cr | 23 mo | +12% |
| Bharti Airtel Limited | Telecommunication | 2.62% | ₹2,846 cr | 46 mo | +52% |
| Maruti Suzuki India Limited | Automobile and Auto Components | 2.57% | ₹2,793 cr | 34 mo | +2% |
| Cipla Limited | Healthcare | 2.47% | ₹2,679 cr | 46 mo | +22% |
| HCL Technologies Limited | Information Technology | 2.44% | ₹2,646 cr | 46 mo | -3% |
| Eicher Motors Limited | Automobile and Auto Components | 2.30% | ₹2,494 cr | 28 mo | +41% |
| Power Grid Corporation of India Limited | Power | 2.11% | ₹2,289 cr | 35 mo | +1% |
How this fund actually behaves
Computed from every filed monthly portfolio (46 months of filings) by the research pipeline.
| Holding patience | Median months a position is held (25th–75th band) | 14 mo (8–26) |
| Win rate on exits | Closed positions sold above entry, and the payoff ratio (40 exits) | 55% · payoff 2.4× |
| Loser handling | Cuts losers vs averages down, from 12 months of filings | Averages down |
| Entry valuation discipline | Median P/E paid on entries over 36 months; share above 50× | 50× · 49% over 50× |
| Portfolio valuation today | Weighted P/E and P/B of the current book at filed prices (P/E covers 93% of equity) | 51.1× P/E · 7.2× P/B · 6% loss-makers |
| Churn | Stocks entered and exited in 12 months, of 79 positions | 40 in · 11 out |
| Concentration | Top 10 holdings' share; effective number of positions | 44% · ~31 effective |