ICICI Prudential Smallcap Fund
The manager is rotating toward defensiveness, evidenced by a sharp cash buildup and the dramatic jump in TREPS (a debt proxy). Despite holding a "small-cap" label, the portfolio heavily favors established quality names like HDFC Bank and large-cap proxies, suggesting a flight from genuine micro-cap volatility. The 17 new entries alongside 11 exits signal active pruning, likely shedding momentum plays while selectively adding healthcare and industrial stocks—a positioning that reflects caution about broader smallcap valuations rather than conviction in category-specific growth.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹95.5400 | +4.50% | — | — | — | — | — |
| Regular Growth | ₹84.3900 | +4.40% | +0.21% | -3.31% | +2.63% | +14.59% | +17.38% |
| Direct IDCW | ₹66.1100 | +4.49% | — | — | — | — | — |
Portfolio Metrics(latest month)
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| Powerica Ltd | 0.88% |
| 360 One Wam Ltd. | 0.33% |
| Dr Lal Pathlabs Ltd. | 0.32% |
| Pg Electroplast Ltd. | 0.20% |
| Blue Star Ltd. | 0.19% |
| Kennametal India Ltd. | 0.16% |
| Indraprastha Gas Ltd. | 0.13% |
| Prudent Corporate Advisory Services Ltd | 0.13% |
| Nuvama Wealth & Investment Ltd. | 0.12% |
| CYIENT DLM LTD | 0.11% |
| Red Tape Ltd | 0.10% |
| Mahanagar Gas Ltd. | 0.04% |
| 182 Days Treasury Bills | 0.31% |
| 364 Days Treasury Bills | 0.25% |
| 182 Days Treasury Bills | 0.23% |
| 364 Days Treasury Bills | 0.09% |
| 91 Days Treasury Bills | 0.08% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | TREPS | 7.90% |
| 2 | HDFC Bank Ltd. INE040A01034 | 3.71% |
| 3 | Atul Ltd. INE100A01010 | 2.73% |
| 4 | Mahindra & Mahindra Ltd. INE101A01026 | 2.22% |
| 5 | Timken India Ltd. INE325A01013 | 2.18% |
| 6 | Gujarat Pipavav Port Ltd. INE517F01014 | 2.10% |
| 7 | Tata Chemicals Ltd. INE092A01019 | 2.04% |
| 8 | TVS Holdings Ltd. INE105A01035 | 2.02% |
| 9 | Pfizer Ltd. INE182A01018 | 1.97% |
| 10 | EIH Ltd. INE230A01023 | 1.81% |
| 11 | Carborundum Universal Ltd. INE120A01034 | 1.58% |
| 12 | Gujarat State Petronet Ltd. INE246F01010 | 1.53% |
| 13 | LIC Housing Finance Ltd. INE115A01026 | 1.43% |
| 14 | Supreme Petrochem Ltd. INE663A01033 | 1.39% |
| 15 | Triveni Turbine Ltd. INE152M01016 | 1.38% |
| 16 | Gujarat Narmada Valley Fertilizers and Chemicals Ltd. INE113A01013 | 1.34% |
| 17 | Grindwell Norton Ltd. INE536A01023 | 1.30% |
| 18 | Sedemac Mechatronics Ltd INE00XB01019 | 1.26% |
| 19 | Computer Age Management Services Ltd. INE596I01020 | 1.23% |
| 20 | Netweb Technologies India INE0NT901020 | 1.22% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.