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 | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Direct Growth | ₹95.9300 | +1.72% | — | — | — |
| Regular Growth | ₹84.7400 | +1.64% | +1.15% | +14.43% | +17.47% |
| Direct IDCW | ₹66.3900 | +1.72% | — | — | — |
Portfolio Metrics(latest month)
vs Category Peers
Highly DifferentiatedActive 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 |
|---|---|
| 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.
Frequently Asked Questions
How many stocks does ICICI Prudential Smallcap Fund hold?
ICICI Prudential Smallcap Fund holds 137 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 12.94% of NAV.
What is the largest holding in ICICI Prudential Smallcap Fund?
The largest position in ICICI Prudential Smallcap Fund is TREPS, accounting for 7.90% of NAV.
Is ICICI Prudential Smallcap Fund a concentrated or diversified fund?
With a Gini coefficient of 0.437, ICICI Prudential Smallcap Fund is well-diversified. The HHI concentration index is 10,985 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 12.94% of the portfolio.
What is the market cap allocation of ICICI Prudential Smallcap Fund?
Based on SEBI's AMFI classification, ICICI Prudential Smallcap Fund's equity portfolio is split as: Large Cap: 8.19%, Mid Cap: 4.19%, Small Cap: 74.80%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does ICICI Prudential Smallcap Fund invest in most?
ICICI Prudential Smallcap Fund has the highest allocation to Industrial Products (10.54%), Chemicals & Petrochemicals (10.48%), Auto Components (9.53%). The fund is invested across 38 sectors in total.
How actively managed is ICICI Prudential Smallcap Fund compared to other Small Cap Fund funds?
ICICI Prudential Smallcap Fund has an Active Share of 81.54%, classifying it as "Highly Differentiated" among 31 Small Cap Fund peers. This means the fund takes significantly different stock positions compared to its category peers.
What changed in ICICI Prudential Smallcap Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, ICICI Prudential Smallcap Fund added 17 new stocks (including Powerica Ltd) and exited 11 stocks (including Ather Energy LTD.). Total holding count increased from 134 to 140 stocks.