Mutual fund · Small Cap
HDFC Small Cap Fund
₹40,801 cr across 85 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: −3% over 1 year against the median Small Cap fund's +13%.
| Over | Quarter | 1 year | 3 years (ann.) | 5 years (ann.) |
|---|---|---|---|---|
| HDFC Small Cap Fund | −1% | −3% | +9% | +13% |
| Median Small Cap fund | +3% | +13% | +14% | +14% |
+45%Q3 FY24+48%Q4 FY24+41%Q1 FY25+35%Q2 FY25+20%Q3 FY25+3%Q4 FY25+6%Q1 FY26−2%Q2 FY26−1%Q3 FY26−2%Q4 FY26−3%Q1 FY27−3%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 |
|---|---|---|
| Apar Industries Limited | +1.3 pp | −0.0 pp |
| Aster DM Healthcare Limited | +1.2 pp | 0.0 pp |
| PEARL GLOBAL INDUSTRIES LIMITED | +0.9 pp | 0.0 pp |
| Great Eastern Shipping Company Ltd. | +0.9 pp | +0.3 pp |
| The Federal Bank Ltd. | +0.7 pp | −0.2 pp |
| Stock | 12 months | Latest month |
|---|---|---|
| Firstsource Solutions Ltd. | −1.4 pp | −0.1 pp |
| Eris Lifesciences Ltd | −1.0 pp | −0.2 pp |
| AWFIS SPACE SOLUTIONS LIMITED | −0.8 pp | −0.0 pp |
| Zensar Technologies Ltd. | −0.6 pp | −0.1 pp |
| KEC International Ltd. | −0.5 pp | −0.0 pp |
Holdings, as filed for 2026-09-30
| Holding | Sector | % of fund | Value | Held for | Vs avg cost |
|---|---|---|---|---|---|
| Firstsource Solutions Limited | Services | 3.68% | ₹1,502 cr | 46 mo | +93% |
| Aster DM Healthcare Limited | Healthcare | 3.37% | ₹1,376 cr | 46 mo | +140% |
| Gabriel India Limited | Automobile and Auto Components | 3.09% | ₹1,259 cr | 46 mo | +493% |
| eClerx Services Limited | Services | 2.92% | ₹1,192 cr | 46 mo | +123% |
| Bank of Baroda | Financial Services | 2.65% | ₹1,080 cr | 46 mo | +20% |
| Krishna Institute of Medical Sciences Limited | Healthcare | 2.04% | ₹831 cr | 39 mo | +88% |
| Apar Industries Limited | Capital Goods | 1.92% | ₹782 cr | 46 mo | +787% |
| Indian Bank | Financial Services | 1.91% | ₹781 cr | 46 mo | +178% |
| Pearl Global Industries Limited | Textiles | 1.90% | ₹775 cr | 27 mo | +108% |
| Eris Lifesciences Limited | Healthcare | 1.89% | ₹771 cr | 39 mo | +28% |
| Home First Finance Company India Limited | Financial Services | 1.76% | ₹718 cr | 22 mo | +3% |
| PVR Inox | Media, Entertainment & Publication | 1.75% | ₹716 cr | 44 mo | -14% |
| The Great Eastern Shipping Company Limited | Services | 1.73% | ₹707 cr | 46 mo | +133% |
| Sudarshan Chemical Industries Limited | Chemicals | 1.71% | ₹697 cr | 32 mo | +54% |
| Vijaya Diagnostic Centre Limited | Healthcare | 1.63% | ₹664 cr | 6 mo | +11% |
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) | 18 mo (8–27) |
| Win rate on exits | Closed positions sold above entry, and the payoff ratio (25 exits) | 60% · payoff 2.2× |
| 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× | 32× · 32% over 50× |
| Portfolio valuation today | Weighted P/E and P/B of the current book at filed prices | 88.0× P/E · 5.5× P/B · 2% loss-makers |
| Churn | Stocks entered and exited in 12 months, of 85 positions | 10 in · 6 out |
| Concentration | Top 10 holdings' share; effective number of positions | 25% · ~58 effective |