LIC MF Large & Mid Cap Fund
The fund is aggressively repositioning toward financial services and capital goods, betting on cyclical recovery and infrastructure momentum. The wholesale exit of HDFC Bank and Reliance in favour of mid-cap names like Oberoi Realty and Ultratech signals conviction that the manager sees better risk-reward in smaller-cap plays within defensive and constructive sectors. However, the elevated cash position and concentrated top-10 holding suggest caution about valuations, even as 14 fresh additions indicate tactical conviction in sector rotation rather than market timing.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Direct Growth | ₹43.0403 | — | — | — | — |
| Regular Growth | ₹37.0110 | -0.85% | -2.92% | +15.49% | +13.79% |
| Direct IDCW | ₹34.1474 | — | — | — | — |
| Regular IDCW | ₹29.9660 | — | — | — | — |
Portfolio Metrics(latest month)
vs Category Peers
Active Stock PickerActive Share = ½Σ|wfund − wpeer|, computed using leave-one-out peer portfolio within SEBI category.
Similar Funds in Category
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| Bharti Airtel Ltd. | 3.86% |
| Bajaj Finance Ltd. | 3.09% |
| Max Financial Services Ltd. | 2.29% |
| Oberoi Realty Ltd. | 2.23% |
| Ultratech Cement Ltd. | 2.09% |
| United Spirits Ltd. | 2.02% |
| Cholamandalam Investment & Fin Co Ltd. | 2.00% |
| Sun Pharmaceutical Industries Ltd. | 1.80% |
| Nippon Life India Asset Management Ltd. | 1.79% |
| Avenue Supermarts Ltd. | 1.77% |
| Divi's Laboratories Ltd. | 1.55% |
| Tata Power Company Ltd. | 1.50% |
| JSW Steel Ltd. | 0.98% |
| Leela Palaces Hotels & Resorts Ltd. | 0.29% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Treps | 6.93% |
| 2 | ICICI Bank Ltd. INE090A01021 | 4.57% |
| 3 | Bharti Airtel Ltd. INE397D01024 | 3.86% |
| 4 | Infosys Ltd. INE009A01021 | 3.30% |
| 5 | Bajaj Finance Ltd. INE296A01032 | 3.09% |
| 6 | Larsen & Toubro Ltd. INE018A01030 | 3.08% |
| 7 | Schaeffler India Ltd. INE513A01022 | 2.80% |
| 8 | Schneider Electric Infrastructure Ltd. INE839M01018 | 2.68% |
| 9 | Apollo Hospitals Enterprise Ltd. INE437A01024 | 2.58% |
| 10 | Marico Ltd. INE196A01026 | 2.57% |
| 11 | Maruti Suzuki India Ltd. INE585B01010 | 2.52% |
| 12 | JSW Infrastructure Ltd. INE880J01026 | 2.51% |
| 13 | InterGlobe Aviation Ltd. INE646L01027 | 2.43% |
| 14 | Aditya Birla Capital Ltd. INE674K01013 | 2.30% |
| 15 | Multi Commodity Exchange Of India Ltd. INE745G01043 | 2.30% |
| 16 | Max Financial Services Ltd. INE180A01020 | 2.29% |
| 17 | Oberoi Realty Ltd. INE093I01010 | 2.23% |
| 18 | GE Vernova T&D India Limited INE200A01026 | 2.19% |
| 19 | Bharat Forge Ltd. INE465A01025 | 2.15% |
| 20 | Axis Bank Ltd. INE238A01034 | 2.09% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does LIC MF Large & Mid Cap Fund hold?
LIC MF Large & Mid Cap Fund holds 48 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 17.90% of NAV.
What is the largest holding in LIC MF Large & Mid Cap Fund?
The largest position in LIC MF Large & Mid Cap Fund is Treps, accounting for 6.93% of NAV.
Is LIC MF Large & Mid Cap Fund a concentrated or diversified fund?
With a Gini coefficient of 0.232, LIC MF Large & Mid Cap Fund is well-diversified. The HHI concentration index is 21,547 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 17.90% of the portfolio.
What is the market cap allocation of LIC MF Large & Mid Cap Fund?
Based on SEBI's AMFI classification, LIC MF Large & Mid Cap Fund's equity portfolio is split as: Large Cap: 52.28%, Mid Cap: 35.89%, Small Cap: 3.13%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does LIC MF Large & Mid Cap Fund invest in most?
LIC MF Large & Mid Cap Fund has the highest allocation to Finance (9.48%), Banks (8.51%), Electrical Equipment (7.22%). The fund is invested across 27 sectors in total.
How actively managed is LIC MF Large & Mid Cap Fund compared to other Large & Mid Cap Fund funds?
LIC MF Large & Mid Cap Fund has an Active Share of 65.68%, classifying it as "Active Stock Picker" among 33 Large & Mid Cap Fund peers. This indicates a moderate level of differentiation from category peers.
What changed in LIC MF Large & Mid Cap Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, LIC MF Large & Mid Cap Fund added 14 new stocks (including Bharti Airtel Ltd.) and exited 47 stocks (including HDFC Bank Ltd.). Total holding count decreased from 83 to 50 stocks.