We analysed the portfolios of India's 10 largest small cap mutual funds (₹1.5 Lakh Cr+ combined AUM) to find the stocks that the smartest fund managers are all betting on.
| Stock | NIP | QUA | SBI | HDFC | AXIS | KOT | TATA | DSP | CAN | ICICI |
|---|---|---|---|---|---|---|---|---|---|---|
| MCX | • |
• |
• |
- |
• |
• |
- |
• |
• |
- |
| Karur Vysya | • |
- |
• |
• |
• |
- |
• |
• |
- |
• |
| KEI Industries | • |
• |
- |
• |
• |
• |
- |
- |
• |
- |
| Apar Industries | • |
- |
• |
• |
- |
• |
• |
- |
• |
- |
| Kirloskar Bros | • |
• |
- |
- |
• |
- |
• |
• |
- |
- |
| IDFC First Bank | - |
• |
• |
- |
- |
• |
• |
- |
- |
• |
| Aster DM Healthcare | • |
- |
- |
• |
• |
- |
- |
• |
- |
• |
| Tega Industries | - |
• |
• |
- |
- |
• |
• |
- |
- |
- |
| CMS Info Systems | • |
- |
- |
• |
- |
- |
- |
• |
• |
- |
| Sansera Eng | - |
• |
- |
- |
• |
- |
• |
- |
- |
• |
| # | Stock Name | Sector | M.Cap (₹Cr) | Funds (n/10) | Avg Wt% | CMP (₹) | 1Y Return | 3Y CAGR | PE Ratio |
|---|---|---|---|---|---|---|---|---|---|
| 1 | MCX | Financial Services | 61,683 | 7 | 2.8% | 6,425 | +62% | 89% | 63 |
| 2 | Karur Vysya | Banking | 27,449 | 7 | 1.9% | 264 | +38% | 42% | 10.2 |
| 3 | KEI Industries | Cables & Wires | 42,800 | 6 | 2.4% | 4,126 | +52% | 48% | 45.7 |
| 4 | Apar Industries | Electrical Equipment | 36,107 | 6 | 1.8% | 8,989 | +35% | 64% | 37 |
| 5 | Kirloskar Bros | Fluid Management | 13,068 | 5 | 1.6% | 1,646 | +28% | 65% | 38.5 |
| 6 | IDFC First Bank | Banking | 54,755 | 5 | 1.4% | 62 | +18% | 13% | 33.3 |
| 7 | Aster DM Healthcare | Healthcare | 18,200 | 5 | 1.3% | 614 | +47% | 41% | 42 |
| 8 | Tega Industries | Mining Equipment | 12,927 | 4 | 1.5% | 1,666 | +37% | 28% | 52 |
| 9 | CMS Info Systems | Cash Management | 11,500 | 4 | 1.2% | 485 | +22% | 31% | 28 |
| 10 | Sansera Engineering | Auto Components | 9,800 | 4 | 1.1% | 1,580 | +15% | 24% | 35 |
Key principles behind the analysis
When 7 out of 10 professional fund managers independently hold the same stock, it signals deep research consensus and reduces single-point-of-failure risk. This is fundamentally different from retail hype.
MCX has a ₹62,000 Cr market cap. These are mid-sized, professionally run businesses with significant growth potential. "Small cap" refers to market cap classification, not business maturity.
Banking, manufacturing, healthcare, tech — the top 10 naturally span multiple sectors. A basket of these stocks is more resilient than a concentrated bet on any single theme.
4 of 10 stocks derive 50%+ revenue from exports (Apar, KEI, Tega, Kirloskar). Foreign currency earnings provide a natural hedge against rupee depreciation.
When 5+ large funds hold a stock worth ₹15,000+ Cr AUM each, they provide a buying floor during market corrections. This reduces downside volatility for patient investors.
These portfolios represent ₹1.5 Lakh Cr+ of professionally managed capital with full-time research teams, regulatory scrutiny, and fiduciary accountability. They align with serious investors.
Past Performance: Returns shown are historical and not indicative of future performance. Markets can be volatile, and past gains do not guarantee future profits.
Data Source: Portfolio information sourced from Groww, Tickertape, and Value Research as of March 2026. Holdings and weightages may have changed since publication.
Not Investment Advice: This is educational content and a historical analysis only. It is not investment advice, and we strongly recommend consulting with a SEBI-registered investment advisor before making any investment decisions.
Risk Acknowledgement: Equity markets involve risk of loss. Small cap stocks are inherently more volatile than large caps. Individual conviction in these stocks may not be appropriate for all investors.
Sai Assets MF Advisory is educational content. Always verify information independently and consult a qualified advisor before investing.
We believe financial literacy shouldn't be locked behind jargon and paywalls. Every report on this platform is built on real data, peer-reviewed metrics, and zero sales bias.
Our mission is simple — help everyday investors make informed decisions using the same analytical frameworks that professionals use.