Funds/Flexi Cap Fund/Capitalmind Flexi Cap Fund

Capitalmind Flexi Cap Fund

Capitalmind Mutual Fund·Flexi Cap Fund·vs Nifty 500 TRI

The fund has deliberately shifted away from mega-cap defensive plays like Reliance toward mid-cap cyclicals in metals, shipping, and industrial equipment, signaling conviction in an economic recovery narrative. The overweight to non-ferrous metals and new positions in steel and aluminium producers suggest the manager expects margin expansion and capex momentum. The exit of large financial holdings and aggressive pruning of cash-like positions indicate the manager is rotating into growth at a potentially stretched valuation, betting on earnings delivery rather than multiple re-rating.

Portfolio analysis · April 2026

NAV & Returns

Plan	NAV	1M	3M	6M	1Y	3Y CAGR	5Y CAGR
Primary	₹9.8197	-0.17%	-3.06%	-2.76%	—	—	—

Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.

Portfolio Metrics(latest month)

Holdings

Top 5 Weight

17.94%

Top 10 Weight

33.48%

Active Share

—

Large Cap

43.66%

Gini

0.280

What Changed2026-03-31 → 2026-04-30

Holdings: 49 → 51+11 added−9 removed35 weight shifts ≥ 0.1%

Stock	Sector	Weight
Tata Steel Limited	Ferrous Metals	2.64%
Anand Rathi Wealth Limited	Capital Markets	2.47%
NMDC Limited	Minerals & Mining	2.41%
Kirloskar Oil Engines Limited	Industrial Products	2.11%
Vedanta Aluminium Metal Limited **#	Non - Ferrous Metals	1.76%
Malco Energy Limited **#	Oil	0.17%
Talwandi Sabo Power Limited **#	Power	0.17%
Vedanta Iron And Steel Limited **#	Ferrous Metals	0.11%
364 Days Tbill (MD 25/12/2026)	Sovereign	1.90%
MTAR Technologies Limited	Electrical Equipment	1.92%
ABB India Limited	Electrical Equipment	2.83%

Full Holdings

#	Holding	Sector	Class	% to NAV
1	HSBC InvestDirect Financial Services (India) Limited (08/06/2026) ** INE790I14GZ8	CRISIL A1+	DEBT	4.21%
2	Capitalmind Liquid Fund - Direct-Growth INF226401034		MUTUAL_FUND	3.60%
3	The Federal Bank Limited INE171A01029	Banks	EQUITY	3.51%
4	Hindalco Industries Limited INE038A01020	Non - Ferrous Metals	EQUITY	3.45%
5	Coal India Limited INE522F01014	Consumable Fuels	EQUITY	3.17%
6	National Aluminium Company Limited INE139A01034	Non - Ferrous Metals	EQUITY	3.15%
7	State Bank of India INE062A01020	Banks	EQUITY	3.14%
8	The Great Eastern Shipping Company Limited INE017A01032	Transport Services	EQUITY	3.14%
9	Cummins India Limited INE298A01020	Industrial Products	EQUITY	3.13%
10	NTPC Limited INE733E01010	Power	EQUITY	2.98%
11	ABB India Limited INE117A01022	Electrical Equipment	EQUITY	2.83%
12	Titan Company Limited INE280A01028	Consumer Durables	EQUITY	2.82%
13	Bharat Forge Limited INE465A01025	Auto Components	EQUITY	2.81%
14	Torrent Pharmaceuticals Limited INE685A01028	Pharmaceuticals & Biotechnology	EQUITY	2.73%
15	Tata Steel Limited INE081A01020	Ferrous Metals	EQUITY	2.64%
16	Anand Rathi Wealth Limited INE463V01026	Capital Markets	EQUITY	2.47%
17	NMDC Limited INE584A01023	Minerals & Mining	EQUITY	2.41%
18	Ashok Leyland Limited INE208A01029	Agricultural, Commercial & Construction Vehicles	EQUITY	2.32%
19	Embassy Office Parks REIT INE041025011	Realty	REIT_INVIT	2.25%
20	Indian Bank INE562A01011	Banks	EQUITY	2.17%

Sector Allocation

Banks14.3%

Non - Ferrous Metals8.4%

Pharmaceuticals & Biotechnology8.0%

Industrial Products6.3%

Automobiles5.6%

CRISIL A1+4.9%

Electrical Equipment4.8%

Finance4.5%

Capital Markets4.4%

Consumable Fuels3.2%

Top 10 sectors by % to NAV. Excludes derivatives.