Axis Multicap Fund - Direct Growth vs LIC MF Multi Cap Fund-Direct Plan-Growth — portfolio overlap
26.5% 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
26.5%
Stocks held by both
23
Only in Axis Mutual Fund's fund
89
Only in LIC Mutual Fund's fund
40
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
| Stock | Sector | In Axis Mutual Fund's | In LIC Mutual Fund's | Shared |
|---|---|---|---|---|
| ICICI Bank Ltd | Financial | 3.57% | 3.56% | 3.56% |
| HDFC Bank Ltd | Financial | 2.72% | 2.70% | 2.70% |
| Zomato Ltd | Technology | 2.13% | 1.72% | 1.72% |
| Axis Bank Ltd | Financial | 1.54% | 2.11% | 1.54% |
| Shriram Transport Finance Company Ltd | Financial | 2.40% | 1.50% | 1.50% |
| Mahindra & Mahindra Ltd | Consumer Discretionary | 1.53% | 1.45% | 1.45% |
| State Bank of India | Financial | 1.33% | 1.43% | 1.33% |
| PB Fintech Ltd | Financial | 1.24% | 1.55% | 1.24% |
| GE T&D India Ltd | Industrials | 1.51% | 1.21% | 1.21% |
| The Federal Bank Ltd | Financial | 1.16% | 1.56% | 1.16% |
| Samvardhana Motherson International Ltd | Consumer Discretionary | 1.04% | 1.32% | 1.04% |
| TVS Motor Company Ltd | Consumer Discretionary | 1.02% | 1.53% | 1.02% |
| Interglobe Aviation Ltd | Industrials | 1.01% | 1.56% | 1.01% |
| Torrent Pharmaceuticals Ltd | Healthcare | 1.51% | 0.98% | 0.98% |
| One 97 Communications Ltd | Industrials | 0.88% | 2.13% | 0.88% |
| Lenskart Solutions Ltd. | Consumer Discretionary | 0.84% | 2.23% | 0.84% |
| Sun Pharmaceutical Industries Ltd | Healthcare | 0.79% | 1.71% | 0.79% |
| Marico Ltd | Consumer Staples | 0.68% | 1.13% | 0.68% |
| BSE Ltd | Financial | 0.53% | 1.08% | 0.53% |
| Azad Engineering Ltd. | Industrials | 0.53% | 1.42% | 0.53% |
| Pidilite Industries Ltd | Materials | 0.48% | 1.64% | 0.48% |
| Navin Fluorine International Ltd | Materials | 0.27% | 1.31% | 0.27% |
| Persistent Systems Ltd | Technology | 0.08% | 1.06% | 0.08% |
Holdings are a monthly disclosure, so this reflects the last portfolios both funds published — 114 and 64 holdings respectively — not live positions.