DSP Value Fund - Direct Plan - Growth vs Axis Value Fund - Direct Plan - Growth — portfolio overlap
31.47% 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
31.47%
Stocks held by both
23
Only in DSP Mutual Fund's fund
43
Only in Axis Mutual Fund's fund
63
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 DSP Mutual Fund's | In Axis Mutual Fund's | Shared |
|---|---|---|---|---|
| ICICI Bank Ltd | Financial | 8.22% | 5.28% | 5.28% |
| HDFC Bank Ltd | Financial | 9.45% | 4.54% | 4.54% |
| Bharti Airtel Ltd | Technology | 2.47% | 2.41% | 2.41% |
| NTPC Ltd | Energy & Utilities | 2.65% | 2.20% | 2.20% |
| State Bank of India | Financial | 2.02% | 2.19% | 2.02% |
| Mahindra & Mahindra Ltd | Consumer Discretionary | 3.29% | 1.74% | 1.74% |
| Infosys Ltd | Technology | 1.61% | 1.90% | 1.61% |
| Axis Bank Ltd | Financial | 2.48% | 1.48% | 1.48% |
| Larsen & Toubro Ltd | Industrials | 1.34% | 2.04% | 1.34% |
| Kotak Mahindra Bank Ltd | Financial | 2.15% | 1.19% | 1.19% |
| Bharat Electronics Ltd | Industrials | 1.05% | 1.17% | 1.05% |
| Ultratech Cement Ltd | Materials | 1.04% | 0.91% | 0.91% |
| Bharat Petroleum Corporation Ltd | Energy & Utilities | 0.84% | 0.85% | 0.84% |
| Sun Pharmaceutical Industries Ltd | Healthcare | 0.84% | 1.69% | 0.84% |
| Indus Towers Ltd | Technology | 1.90% | 0.74% | 0.74% |
| Jindal Steel & Power Ltd | Materials | 0.74% | 0.73% | 0.73% |
| HDFC Life Insurance Co Ltd | Financial | 1.99% | 0.66% | 0.66% |
| SBI Life Insurance Company Ltd | Financial | 2.13% | 0.62% | 0.62% |
| Bajaj Finance Ltd | Financial | 0.55% | 1.45% | 0.55% |
| Oil & Natural Gas Corporation Ltd | Energy & Utilities | 1.40% | 0.36% | 0.36% |
| ITC Ltd | Consumer Staples | 2.56% | 0.19% | 0.19% |
| Cipla Ltd | Healthcare | 2.29% | 0.15% | 0.15% |
| Reliance Industries Ltd | Energy & Utilities | 0.02% | 3.22% | 0.02% |
Holdings are a monthly disclosure, so this reflects the last portfolios both funds published — 69 and 88 holdings respectively — not live positions.