Axis Momentum Fund
Axis Momentum Fund is heavily concentrated in quality cyclicals and defensive plays, with nearly 32% locked in its top five holdings dominated by defense, banking, and commodities. The substantial cash buffer and dramatic portfolio churn—adding 28 positions including energy and metals names while trimming telecom—suggests the manager is pivoting aggressively toward commodity-linked and PSU momentum, betting on inflation resilience and fiscal spending. The sharp reduction in Bharti Airtel paired with fresh bets on Coal India and ONGC signals conviction in the energy cycle at the expense of growth tech.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹8.9200 | — | — | — | — | — | — |
| Regular Growth | ₹8.7300 | -0.80% | -3.75% | -7.13% | -1.69% | — | — |
| Direct IDCW | ₹8.9200 | — | — | — | — | — | — |
| Regular IDCW | ₹8.7300 | — | — | — | — | — | — |
Portfolio Metrics(latest month)
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| Coal India Limited | 4.67% |
| Oil & Natural Gas Corporation Limited | 2.52% |
| Reliance Industries Limited | 2.51% |
| JSW Steel Limited | 2.39% |
| Power Grid Corporation of India Limited | 2.37% |
| Siemens Limited | 2.35% |
| Ambuja Cements Limited | 2.31% |
| HDFC Life Insurance Company Limited | 2.31% |
| Indian Oil Corporation Limited | 2.31% |
| Bajaj Finserv Limited | 2.27% |
| Bank of Baroda | 2.23% |
| Tech Mahindra Limited | 2.14% |
| Tata Consultancy Services Limited | 2.03% |
| Infosys Limited | 1.99% |
| Wipro Limited | 1.98% |
| Dr. Reddy's Laboratories Limited | 1.97% |
| HCL Technologies Limited | 1.96% |
| Tata Motors Passenger Vehicles Limited | 1.92% |
| Trent Limited | 1.90% |
| Max Healthcare Institute Limited | 1.21% |
| ICICI Lombard General Insurance Company Limited | 1.19% |
| Apollo Hospitals Enterprise Limited | 1.14% |
| ICICI Bank Limited | 1.07% |
| Malco Energy Limited | 0.02% |
| Talwandi Sabo Power Limited | 0.02% |
| Vedanta Iron And Steel Limited | 0.02% |
| Vedanta Aluminium Metal Limited | 0.02% |
| NIFTY 24000 Call May 2026 Option | 0.13% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Bharat Electronics Limited INE263A01024 | 9.22% |
| 2 | HDFC Bank Limited INE040A01034 | 7.80% |
| 3 | Clearing Corporation of India Ltd | 5.23% |
| 4 | Net Receivables / (Payables) | 4.76% |
| 5 | Coal India Limited INE522F01014 | 4.67% |
| 6 | Hindalco Industries Limited INE038A01020 | 4.35% |
| 7 | Oil & Natural Gas Corporation Limited INE213A01029 | 2.52% |
| 8 | Reliance Industries Limited INE002A01018 | 2.51% |
| 9 | Bharti Airtel Limited INE397D01024 | 2.40% |
| 10 | JSW Steel Limited INE019A01038 | 2.39% |
| 11 | Power Grid Corporation of India Limited INE752E01010 | 2.37% |
| 12 | Siemens Limited INE003A01024 | 2.35% |
| 13 | Indian Oil Corporation Limited INE242A01010 | 2.31% |
| 14 | Ambuja Cements Limited INE079A01024 | 2.31% |
| 15 | HDFC Life Insurance Company Limited INE795G01014 | 2.31% |
| 16 | Bajaj Finserv Limited INE918I01026 | 2.27% |
| 17 | Bank of Baroda INE028A01039 | 2.23% |
| 18 | Tech Mahindra Limited INE669C01036 | 2.14% |
| 19 | Hindustan Unilever Limited May 2026 Future | 2.12%(der) |
| 20 | State Bank of India INE062A01020 | 2.09% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.