HDFC Bank tops holdings in Sunil Singhania-backed Abakkus Flexi Cap Fund’s first disclosure

The fund managed assets worth Rs 2,492.97 crore at the end of December ( fund mobilised in NFO). Of this, equity investments accounted for Rs 479.96 crore, or 19.24 per cent of net assets, while Rs 1,998.59 crore, or 80.17 per cent, was held in reverse repo and TREPS. Net receivables stood at Rs 14.42 crore, or 0.59 per cent of assets.

• Abakkus Flexi Cap Fund holds over 80 percent of assets in cash and equivalents
• HDFC Bank is the fund's largest equity holding at 2.78 percent of net assets
• Fund favors banking, financials, and gradual sector diversification.

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The Sunil Singhania-backed Abakkus Flexi Cap Fund, which recently closed its maiden new fund offer (NFO) on December 22, 2025, has begun cautiously, with HDFC Bank emerging as its largest equity holding while over 80 per cent of the corpus remains parked in cash and cash equivalents, according to its first portfolio disclosure as of December 31, 2025. This disclousure is basis allocations made over 8 days in December, post closure of the NFO.

The fund managed assets worth Rs 2,492.97 crore at the end of December ( fund mobilised in NFO). Of this, equity investments accounted for Rs 479.96 crore, or 19.24 per cent of net assets, while Rs 1,998.59 crore, or 80.17 per cent, was held in reverse repo and TREPS. Net receivables stood at Rs 14.42 crore, or 0.59 per cent of assets.

Within the equity portion, HDFC Bank was the single largest holding at 2.78 per cent of net assets, followed by ICICI Bank at 2.42 per cent. State Bank of India and Federal Bank accounted for 1.69 per cent and 1.47 per cent, respectively, highlighting a clear early bias toward banking and financial services.

Outside financials, the fund’s portfolio is diversified across sectors. United Spirits accounted for 1.59 per cent of net assets, while Larsen & Toubro stood at 1.47 percent, reflecting exposure to consumption and infrastructure. Vedanta held a 1.45 per cent allocation, NTPC 0.93 per cent, Oracle Financial Services Software 1.39 per cent, and Tata Steel 0.72 per cent, providing exposure to metals, power, and technology.

New age businesses were represented by Urban Company with a 0.96 per cent allocation. Smaller positions included Emmvee Photovoltaic Power, Inox India, Heritage Foods, Deepak Fertilisers and Supriya Lifescience, indicating a gradual and diversified approach across market capitalisations. There was no exposure to unlisted equities at the end of December.

While Abakkus Mutual Fund is promoted by veteran investor Sunil Singhania, the fund is managed by Head of Investments and Research Sanjay Doshi and the investment team.

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