Axis Multicap Fund - Direct Growth vs HSBC Multi Cap Fund - Direct - Growth — portfolio overlap
42.32% of these two portfolios is the same. A substantial shared core, which is normal for two funds in the same category — they are drawing from the same universe. The part that differs is what you are actually paying the second manager for.
Portfolio overlap
42.32%
Stocks held by both
47
Only in Axis Mutual Fund's fund
61
Only in HSBC Mutual Fund's fund
51
Overlap is weighted: for every stock both funds hold, we take the smaller of the two weights and add them up. So two funds each holding 5% of the same stock overlap by 5 points, not 10. Cash and equivalents (repo, TREPS, receivables) are excluded — nearly every fund holds them, and shared cash is not shared conviction.
Stocks both funds hold— top 25 of 47, by shared weight
| Stock | Sector | In Axis Mutual Fund's | In HSBC Mutual Fund's | Shared |
|---|---|---|---|---|
| HDFC Bank Ltd | Financial | 4.30% | 3.46% | 3.46% |
| ICICI Bank Ltd | Financial | 3.87% | 2.39% | 2.39% |
| Apar Industries Ltd | Diversified | 1.87% | 2.03% | 1.87% |
| Larsen & Toubro Ltd | Industrials | 1.93% | 1.80% | 1.80% |
| Reliance Industries Ltd | Energy & Utilities | 1.61% | 2.20% | 1.61% |
| GE T&D India Ltd | Industrials | 1.59% | 2.01% | 1.59% |
| State Bank of India | Financial | 1.47% | 2.08% | 1.47% |
| BSE Ltd | Financial | 1.33% | 1.51% | 1.33% |
| Multi Commodity Exchange Of India Ltd | Financial | 1.47% | 1.29% | 1.29% |
| Shriram Transport Finance Company Ltd | Financial | 2.58% | 1.28% | 1.28% |
| Karur Vysya Bank Ltd | Financial | 1.12% | 1.26% | 1.12% |
| Varun Beverages Ltd | Consumer Staples | 1.09% | 1.22% | 1.09% |
| Bharti Airtel Ltd | Technology | 1.69% | 1.07% | 1.07% |
| Zomato Ltd | Technology | 1.96% | 1.04% | 1.04% |
| The Federal Bank Ltd | Financial | 1.03% | 2.61% | 1.03% |
| Radico Khaitan Ltd | Consumer Staples | 1.02% | 1.79% | 1.02% |
| Bharat Heavy Electricals Ltd | Industrials | 1.47% | 0.97% | 0.97% |
| City Union Bank Ltd | Financial | 0.86% | 0.91% | 0.86% |
| Sai Life Sciences Ltd. | Healthcare | 0.84% | 1.85% | 0.84% |
| Divi's Laboratories Ltd | Healthcare | 0.82% | 1.13% | 0.82% |
| RBL Bank Ltd | Financial | 1.59% | 0.82% | 0.82% |
| Ultratech Cement Ltd | Materials | 0.80% | 1.12% | 0.80% |
| NTPC Ltd | Energy & Utilities | 1.17% | 0.78% | 0.78% |
| Craftsman Automation Ltd | Consumer Discretionary | 1.58% | 0.75% | 0.75% |
| Cholamandalam Investment & Finance Company Ltd | Financial | 0.97% | 0.75% | 0.75% |
Holdings are a monthly disclosure, so this reflects the last portfolios both funds published — 109 and 99 holdings respectively — not live positions.