Axis Multicap Fund - Direct Growth vs HSBC Multi Cap Fund - Direct - Growth — portfolio overlap
44.28% 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
44.28%
Stocks held by both
50
Only in Axis Mutual Fund's fund
62
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 50, by shared weight
| Stock | Sector | In Axis Mutual Fund's | In HSBC Mutual Fund's | Shared |
|---|---|---|---|---|
| HDFC Bank Ltd | Financial | 2.72% | 2.80% | 2.72% |
| ICICI Bank Ltd | Financial | 3.57% | 2.30% | 2.30% |
| Apar Industries Ltd | Diversified | 2.06% | 2.39% | 2.06% |
| TD Power Systems Ltd | Industrials | 1.70% | 3.01% | 1.70% |
| Shriram Transport Finance Company Ltd | Financial | 2.40% | 1.53% | 1.53% |
| Larsen & Toubro Ltd | Industrials | 1.46% | 1.60% | 1.46% |
| Zomato Ltd | Technology | 2.13% | 1.42% | 1.42% |
| Multi Commodity Exchange Of India Ltd | Financial | 2.03% | 1.41% | 1.41% |
| State Bank of India | Financial | 1.33% | 1.95% | 1.33% |
| Radico Khaitan Ltd | Consumer Staples | 1.26% | 1.85% | 1.26% |
| Sai Life Sciences Ltd. | Healthcare | 1.25% | 1.98% | 1.25% |
| GE T&D India Ltd | Industrials | 1.51% | 1.22% | 1.22% |
| Reliance Industries Ltd | Energy & Utilities | 1.20% | 1.98% | 1.20% |
| Bharti Airtel Ltd | Technology | 1.44% | 1.17% | 1.17% |
| The Federal Bank Ltd | Financial | 1.16% | 2.57% | 1.16% |
| Karur Vysya Bank Ltd | Financial | 1.15% | 1.34% | 1.15% |
| Divi's Laboratories Ltd | Healthcare | 1.14% | 1.48% | 1.14% |
| TVS Motor Company Ltd | Consumer Discretionary | 1.02% | 1.14% | 1.02% |
| Torrent Pharmaceuticals Ltd | Healthcare | 1.51% | 0.96% | 0.96% |
| Bharat Heavy Electricals Ltd | Industrials | 1.17% | 0.94% | 0.94% |
| FSN E-Commerce Ventures Ltd | Consumer Discretionary | 0.95% | 0.91% | 0.91% |
| City Union Bank Ltd | Financial | 0.87% | 0.91% | 0.87% |
| Lenskart Solutions Ltd. | Consumer Discretionary | 0.84% | 1.03% | 0.84% |
| Titan Company Ltd | Consumer Discretionary | 0.82% | 0.84% | 0.82% |
| Craftsman Automation Ltd | Consumer Discretionary | 1.67% | 0.81% | 0.81% |
Holdings are a monthly disclosure, so this reflects the last portfolios both funds published — 114 and 102 holdings respectively — not live positions.