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Flexi Cap · Nippon India Mutual Fund · AMFI code 149089Nippon India Flexi Cap Fund
Disclosed for 61 months, Aug 2021 to Aug 2026.Published as: Nippon India Flexi Cap Fund (An open ended dynamic equity scheme investing across large cap, mid cap, small cap stocks)
Portfolio value
₹9,592 Cr
down ₹40.1 Cr vs Nov 2025
- Stocks held
- 85
- down 1 vs Nov 2025
Nippon India Flexi Cap Fund is an active equity fund in the Flexi Cap category from Nippon India Mutual Fund. In December 2025 it disclosed 85 stocks worth ₹9,592 Cr, down ₹40.1 Cr from Nov 2025. Its largest positions were HDFC Bank Limited (6.9%), ICICI Bank Limited (4.4%), Reliance Industries Limited (4.0%); the ten largest together made up 36.5% of the portfolio, and Banks was the biggest sector at 18.9% of its equity. Cash and debt stood at 0.4%. Compared with Nov 2025 the fund entered 1 new stock and exited 2.
Against 43 other Flexi Cap funds
Concentration
60%
Top-10 weight is higher than 60% of peers
Breadth
91%
Holds more stocks than 91% of peers
Cash
2%
Holds more cash than 2% of peers
Holdings in December 2025
Download CSVEvery line the fund disclosed, with the change against Nov 2025. Click a column to sort; click a company to see every fund that owns it.
| HDFC Bank Limited | 6.85% | down 0.08 pts | ₹657 Cr | down ₹10.9 Cr | Trimmed |
| ICICI Bank Limited | 4.41% | down 0.13 pts | ₹423 Cr | down ₹14.4 Cr | Trimmed |
| Reliance Industries Limited | 4.02% | up 0.02 pts | ₹385 Cr | up ₹71 L | Held |
| Axis Bank Limited | 3.88% | down 0.02 pts | ₹373 Cr | down ₹3 Cr | Trimmed |
| Infosys Limited | 3.68% | down 0.17 pts | ₹353 Cr | down ₹18 Cr | Trimmed |
| Larsen & Toubro Limited | 3.26% | down 0.25 pts | ₹313 Cr | down ₹25.4 Cr | Trimmed |
| Mahindra & Mahindra Limited | 2.71% | down 0.02 pts | ₹260 Cr | down ₹3.4 Cr | Trimmed |
| Maruti Suzuki India Limited | 2.67% | up 0.14 pts | ₹256 Cr | up ₹12.2 Cr | Added |
| Bajaj Finance Limited | 2.64% | down 0.12 pts | ₹253 Cr | down ₹13 Cr | Trimmed |
| Vedanta Limited | 2.39% | up 0.32 pts | ₹229 Cr | up ₹29.7 Cr | Added |
| Bharti Airtel Limited | 2.19% | up 0.01 pts | ₹210 Cr | up ₹40 L | Held |
| UltraTech Cement Limited | 1.61% | up 0.03 pts | ₹154 Cr | up ₹2.4 Cr | Added |
| Samvardhana Motherson International Limited | 1.61% | up 0.06 pts | ₹154 Cr | up ₹4.7 Cr | Added |
| SBI Life Insurance Company Limited | 1.58% | down 0.12 pts | ₹152 Cr | down ₹12.6 Cr | Trimmed |
| Mankind Pharma Limited | 1.58% | up 0.34 pts | ₹151 Cr | up ₹32.3 Cr | Added |
| NTPC Limited | 1.56% | up 0.02 pts | ₹150 Cr | up ₹1.4 Cr | Added |
| Varun Beverages Limited | 1.56% | up 0.03 pts | ₹150 Cr | up ₹2.5 Cr | Added |
| State Bank of India | 1.56% | up 0.01 pts | ₹149 Cr | up ₹49 L | Held |
| ITC Limited | 1.53% | up <0.01 pts | ₹147 Cr | down ₹46 L | Held |
| Kirloskar Oil Engines Limited | 1.44% | up 0.12 pts | ₹138 Cr | up ₹10.6 Cr | Added |
| Radico Khaitan Limited | 1.41% | up 0.04 pts | ₹135 Cr | up ₹3.7 Cr | Added |
| InterGlobe Aviation Limited | 1.37% | down 0.04 pts | ₹131 Cr | down ₹4.1 Cr | Trimmed |
| Swiggy Limited | 1.35% | up 0.52 pts | ₹129 Cr | up ₹49.1 Cr | Added |
| Hindustan Petroleum Corporation Limited | 1.33% | up 0.12 pts | ₹128 Cr | up ₹10.6 Cr | Added |
| Hindustan Aeronautics Limited | 1.33% | down 0.04 pts | ₹127 Cr | down ₹4.5 Cr | Trimmed |
| Eternal Limited | 1.32% | down 0.10 pts | ₹127 Cr | down ₹10.1 Cr | Trimmed |
| Kaynes Technology India Limited | 1.32% | up 0.38 pts | ₹127 Cr | up ₹35.8 Cr | Added |
| Kotak Mahindra Bank Limited | 1.20% | up 0.05 pts | ₹115 Cr | up ₹4 Cr | Added |
| Bharat Heavy Electricals Limited | 1.20% | down 0.28 pts | ₹115 Cr | down ₹27.5 Cr | Trimmed |
| Bharti Hexacom Limited | 1.14% | up 0.04 pts | ₹109 Cr | up ₹3.2 Cr | Added |
| Tech Mahindra Limited | 1.14% | up 0.06 pts | ₹109 Cr | up ₹5 Cr | Added |
| Jindal Steel & Power Limited | 1.10% | up 0.01 pts | ₹106 Cr | up ₹94 L | Added |
| Avenue Supermarts Limited | 1.10% | down 0.06 pts | ₹105 Cr | down ₹5.9 Cr | Trimmed |
| LTIMindtree Limited | 1.04% | down <0.01 pts | ₹99.6 Cr | down ₹54 L | Trimmed |
| Godrej Consumer Products Limited | 1.03% | up 0.07 pts | ₹98.5 Cr | up ₹6.2 Cr | Added |
| Siemens Energy India Limited | 1.02% | up 0.20 pts | ₹97.4 Cr | up ₹18.9 Cr | Added |
| Tata Motors Ltd | 1.02% | up 0.16 pts | ₹97.4 Cr | up ₹14.9 Cr | Added |
| JB Chemicals & Pharmaceuticals Limited | 1.00% | up 0.03 pts | ₹96.2 Cr | up ₹2.6 Cr | Added |
| Vishal Mega Mart Limited | 0.96% | up 0.01 pts | ₹92.3 Cr | up ₹39 L | Held |
| Aditya Birla Sun Life AMC Limited | 0.96% | up 0.09 pts | ₹92.2 Cr | up ₹8 Cr | Added |
| Lupin Limited | 0.93% | up 0.02 pts | ₹89.7 Cr | up ₹1.2 Cr | Added |
| Devyani International Limited | 0.92% | up 0.08 pts | ₹88.3 Cr | up ₹7.3 Cr | Added |
| Info Edge (India) Limited | 0.91% | up 0.01 pts | ₹87 Cr | up ₹22 L | Held |
| Trent Limited | 0.86% | up 0.01 pts | ₹82.1 Cr | up ₹55 L | Added |
| SBI Cards and Payment Services Limited | 0.85% | down 0.01 pts | ₹81.9 Cr | down ₹1.8 Cr | Trimmed |
| The Indian Hotels Company Limited | 0.82% | down <0.01 pts | ₹78.6 Cr | down ₹58 L | Trimmed |
| Coforge Limited | 0.81% | up 0.06 pts | ₹77.7 Cr | up ₹5.7 Cr | Added |
| Dr. Reddy's Laboratories Limited | 0.73% | up 0.01 pts | ₹70 Cr | up ₹69 L | Added |
| Zensar Technologies Limited | 0.73% | down 0.04 pts | ₹69.6 Cr | down ₹4.6 Cr | Trimmed |
| Power Finance Corporation Limited | 0.73% | down 0.01 pts | ₹69.6 Cr | down ₹1.4 Cr | Trimmed |
What changed, Nov 2025 to Dec 2025
New New positions (1)
- ICICI Prudential Asset Management Company Limited0.1% · ₹5.9 Cr
Exited Exited (2)
- Aditya Infotech Limitedwas 0.4% · ₹35.5 Cr
- UTI Asset Management Company Limitedwas 0.2% · ₹19.4 Cr
Added Biggest additions
- Swiggy Limitedup ₹49.1 Cr (+0.52% pts)
- Kaynes Technology India Limitedup ₹35.8 Cr (+0.38% pts)
- Dixon Technologies (India) Limited
Sectors
Which sectors the fund is moving towards and away from, and where its money sits now. Shares are of the fund’s classified equity holdings, so they add up to 100%.
Where the weight moved
Compared with
Since Nov 2025, the weight rose most in Pharmaceuticals & Biotechnology (+0.4 pts) and Consumer Durables (+0.3 pts), and fell most in Banks (−0.3 pts) and Construction (−0.3 pts).
- Pharmaceuticals & Biotechnology3.9% → 4.3%+0.4 pts
- Consumer Durables3.1% → 3.4%+0.3 pts
- Diversified Metals2.1% → 2.4%+0.3 pts
- Retailing7.0% → 7.3%+0.3 pts
- Agricultural, Commercial & Construction Vehicles0.9% → 1.0%+0.2 pts
- Industrial Products2.3% → 2.5%+0.2 pts
- Banks19.2% → 18.9%−0.3 pts
- Construction3.9% → 3.6%−0.3 pts
- Other Consumer Services0.4% → 0.1%−0.2 pts
- Finance5.5% → 5.3%−0.2 pts
- Capital Markets2.5% → 2.3%−0.2 pts
- IT - Software8.3% → 8.1%−0.2 pts
A sector’s weight changes when the fund buys or sells, and also when its shares rise or fall in price, so a change is not by itself a sign of buying or selling.
Main sectors’ weights over time
| Sector | Dec 2022 | Dec 2024 | Jun 2025 | Sep 2025 | Nov 2025 | Dec 2025 |
|---|---|---|---|---|---|---|
| Banks | 23.0% | 16.1% | 18.2% | 16.9% | 19.2% | 18.9% |
| IT - Software | 10.3% | 7.6% | 7.7% | 7.9% | 8.3% | 8.1% |
| Retailing | 2.6% | 5.9% | 6.7% | 7.9% | 7.0% | 7.3% |
| Automobiles | 4.7% | 5.0% | 5.3% | 5.8% | 5.3% | 5.4% |
| Petroleum Products | 5.0% | 3.5% | 4.8% | 4.4% | 5.3% | 5.4% |
| Finance | 9.1% | 6.3% | 6.6% | 6.5% | 5.5% | 5.3% |
| Pharmaceuticals & Biotechnology | 3.9% | 5.2% | 3.8% | 3.8% | 3.9% | 4.3% |
| Telecom - Services | — | 2.1% | 3.1% | 2.7% | 3.7% | 3.7% |
| Construction | 3.6% | 3.8% | 3.8% | 3.7% | 3.9% | 3.6% |
| Consumer Durables | 3.1% | 2.3% | 2.3% | 3.6% | 3.1% | 3.4% |
Cash and debt
The share of the portfolio not in shares: cash and net receivables, money-market instruments and bonds, as disclosed each month. Cash can dip below zero when payables, often on derivative positions, exceed it. A change here describes what the fund did; it is not a signal.
Cash & debt, Dec 2025
0.4%
▼ 0.7 pts vs Nov 2025
- Cash alone
- 0.3%
- cash and net receivables
- A year earlier
- 2.4%
- Dec 2024 · now ▼ 2.1 pts
- Last 12 months
- 0.4% – 5.4%
- lowest to highest · record 14.4% in Aug 2021
History
Disclosed portfolio value by month, with the stocks the fund entered and exited against its previous disclosure. Every month is a link to that portfolio.