HDFC Flexi Cap Fund, India's second-largest flexi cap scheme with assets under management of ₹1.06 lakh crore, made significant portfolio changes in June 2026. According to the fund's latest monthly portfolio disclosure, the scheme added four new stocks while increasing holdings in 18 existing companies and reducing exposure to 25 others. The fund has been managed by Amit Ganatra since February 1, 2026, after he succeeded Roshi Jain who had overseen the scheme since July 2022. Ganatra, a Chartered Accountant and CFA with over two decades of experience, previously served as Head of Equities at Invesco India, where his flexi cap fund delivered approximately 21.8% annually over three years against 16.2% for its benchmark.
The fund introduced four new companies during June, spanning diverse sectors including renewable energy, transport infrastructure, auto components and pharmaceuticals. As reported by Mint, the new additions include ACME Solar Holdings (0.58% allocation), JSW Infrastructure (0.56%), Craftsman Automation (0.50%), and Corona Remedies (0.43%). These additions reflect the fund's strategy to diversify across different market segments while maintaining focus on growth opportunities.
Beyond the fresh additions, the fund significantly increased its shareholding in 18 existing companies during June. According to the portfolio disclosure, the fund accumulated more shares of HDFC Bank, InterGlobe Aviation and Eternal, while also increasing positions in PB Fintech, Lupin, Ashok Leyland, TVS Motor and Bharat Electronics. Among smaller positions, it sharply increased holdings in ABB India, Hexaware Technologies, Nippon Life India Asset Management and Neuland Laboratories. The core portfolio remains largely intact with ICICI Bank, HDFC Bank, Axis Bank and SBI as the top holdings, maintaining the fund's large-cap heavy positioning.
The fund reduced its holdings in 25 companies during the month, with the biggest cuts in Infosys, Bajaj Auto, HCL Technologies and SBI Life Insurance. As reported by Mint, the portfolio also saw lower holdings in Bank of Baroda, Kotak Mahindra Bank, JSW Steel, Tata Steel, Eicher Motors and Power Grid Corporation of India. Additionally, the fund made a complete exit from Ramco Cements during June, indicating selective trimming across information technology, financials, automobiles and metals sectors. Despite the manager change, portfolio churn has remained low, with the new manager adjusting the edges without rebuilding the entire house.
Beyond stock-level changes, the fund also reduced its allocation to TREPS from 4.56% in May to 3.18% in June, according to the disclosure. This decline suggests that the fund deployed more of its cash into equities during the month, indicating an active approach to capital deployment in the current market environment. The fund's flexi cap structure allows it to invest across large-, mid- and small-cap stocks without any market capitalisation restrictions.
