LIC MF Flexi Cap Fund
The fund has made aggressive tactical shifts, exiting established large-cap financials like HDFC and Kotak while aggressively accumulating ICICI Bank and raising SBI exposure, signaling conviction in selective banking plays over broad financial sector strength. With banks commanding 18% of the portfolio and heavy concentration in a 42-stock portfolio, the manager is betting on cyclical recovery and specific institutional stories rather than broad-based growth. The 8% cash cushion suggests selective entry discipline, though the 42 exits indicate meaningful portfolio churn that retail investors should monitor for tax efficiency.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹104.7409 | +0.77% | — | — | — | — | — |
| Regular Growth | ₹94.3651 | +0.67% | -4.35% | -9.28% | +3.95% | +11.32% | +10.73% |
| Direct IDCW | ₹35.2412 | +0.77% | — | — | — | — | — |
| Regular IDCW | ₹29.7780 | +0.67% | — | — | — | — | — |
Portfolio Metrics(latest month)
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| ICICI Bank Ltd. | 6.55% |
| JK Cement Ltd. | 2.80% |
| Sun Pharmaceutical Industries Ltd. | 2.69% |
| Hitachi Energy India Ltd. | 2.59% |
| The Phoenix Mills Ltd. | 2.36% |
| ITC Hotels Ltd. | 2.20% |
| Multi Commodity Exchange Of India Ltd. | 2.20% |
| UNO Minda Ltd. | 2.07% |
| Coforge Ltd. | 1.92% |
| Samvardhana Motherson International Ltd. | 1.90% |
| Marico Ltd. | 1.49% |
| Tata Power Company Ltd. | 1.44% |
| Radico Khaitan Ltd. | 1.34% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Treps | 7.87% |
| 2 | ICICI Bank Ltd. INE090A01021 | 6.55% |
| 3 | Axis Bank Ltd. INE238A01034 | 4.07% |
| 4 | Bharti Airtel Ltd. INE397D01024 | 3.76% |
| 5 | Navin Fluorine International Ltd. INE048G01026 | 3.56% |
| 6 | State Bank of India INE062A01020 | 3.52% |
| 7 | Larsen & Toubro Ltd. INE018A01030 | 3.46% |
| 8 | Apollo Hospitals Enterprise Ltd. INE437A01024 | 3.10% |
| 9 | Maruti Suzuki India Ltd. INE585B01010 | 3.00% |
| 10 | Torrent Pharmaceuticals Ltd. INE685A01028 | 2.89% |
| 11 | InterGlobe Aviation Ltd. INE646L01027 | 2.87% |
| 12 | Ujjivan Small Finance Bank Ltd. INE551W01018 | 2.87% |
| 13 | JK Cement Ltd. INE823G01014 | 2.80% |
| 14 | Sun Pharmaceutical Industries Ltd. INE044A01036 | 2.69% |
| 15 | Max Financial Services Ltd. INE180A01020 | 2.64% |
| 16 | Hitachi Energy India Ltd. INE07Y701011 | 2.59% |
| 17 | The Phoenix Mills Ltd. INE211B01039 | 2.36% |
| 18 | Syrma Sgs Technology Ltd. INE0DYJ01015 | 2.24% |
| 19 | ITC Hotels Ltd. INE379A01028 | 2.20% |
| 20 | Multi Commodity Exchange Of India Ltd. INE745G01043 | 2.20% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.