Samir Arora's Helios Flexi Cap Fund adds Tata Motors in February; exits REC, KPIT Technologies

On the additions side, financials remained a key theme in the portfolio. The fund increased exposure to State Bank of India, where holdings rose to 3.49% of AUM, along with higher allocations to PB Fintech (1.48%) and Cholamandalam Investment & Finance (1.38%). Among these, State Bank of India saw one of the most notable increases in shares bought during the month.

• Helios Flexi Cap Fund added Tata Motors in February 2026
• Fund exited REC, KPIT Technologies, and Oswal Pumps
• Financials remain the fund's largest sector exposure

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Helios Mutual Fund's flagship Flexi Cap Fund added a fresh position in Tata Motors in February while exiting three stocks and increasing exposure to several existing holdings, according to the fund’s latest monthly portfolio disclosure. As of February end, the scheme had assets under management (AUM) of Rs 6,214 crore with equities accounting for 98.24 percent of the AUM against 98.46 percent in January 2026. During the month cash holding was around 1.9 percent on par with January 2026.

The fund’s largest holdings at the end of February included HDFC Bank (4.59 percent of AUM), Reliance Industries. (4.55 percent), ICICI Bank (4.49 percent), Adani Ports and Special Economic Zone (4.13%) and State Bank of India (3.49 percent).

New addition

Tata Motors

The fund initiated a new position in Tata Motors, buying 19.06 lakh shares, which accounts for 2.07% of the fund’s AUM. During the month, the stock gained around 9 percent but has declined around 5 percent YTD. Tata Motors reported strong sales performance in February 2026, registering a 32% year-on-year growth in commercial vehicle sales. The company sold a total of 42,940 commercial vehicle units in the domestic and international markets, compared to 32,533 units in February 2025. Domestic sales stood at 40,893 units, up 32.8% YoY, while international business contributed 2,047 units, a 17.9 percent growth.

Complete exits

The fund fully exited three companies during the month:

REC

The fund exited the stock which represented 2.31% of AUM in January. The stock was in focus during the month after it was announced that the boards of the two state-owned lenders on February 6 approved the merger in principle, following the Union Budget announcement on restructuring PFC and REC. The combined entity is expected to have a loan book of around Rs 11.5 lakh crore, positioning it among the largest specialised financiers for India’s power sector. Currently, REC is a fully-owned subsidiary of PFC. The stock has fallen around 7.8 percent YTD.

KPIT Technologies

The fund exited offloaded KPIT Technology during the month, previously 1.14% of AUM. During the month of February, IT services stocks declined 2–21 percent in February 2026 amid rising concerns about potential revenue and effort deflation in the sector due to the adoption of generative AI, according to Kotak Institutional Equities. During the month, shares of KPIT fell around 22.8 percent and have fallen around 39.9 percent YTD.

Oswal Pumps

The stock fell around 16 percent in the month of February and around 42 percent YTD. The stock has been under pressure even though for Q3FY26, the company posted a net profit of Rs 91.5 crore, up 14 percent from Rs 80.3 crore in the same quarter last year. Revenue from operations rose by 32.2 percent year-on-year to Rs 501 crore, compared with Rs 379 crore in the previous fiscal.

What the fund bought?

On the additions side, financials remained a key theme in the portfolio. The fund increased exposure to State Bank of India, where holdings rose to 3.49% of AUM, along with higher allocations to PB Fintech (1.48%) and Cholamandalam Investment & Finance (1.38%). Among these, State Bank of India saw one of the most notable increases in shares bought during the month.

The fund also added exposure across capital market and industrial names. Holdings in Multi Commodity Exchange of India increased to 2.05% of AUM, while allocations to Cummins India rose to 1.95% and Torrent Pharmaceuticals to 1.80%.

Healthcare and consumption-linked names also saw additions. The fund increased exposure to Apollo Hospitals Enterprise (1.31% of AUM) and Lemon Tree Hotels (0.89%). Meanwhile, export-oriented textile player Gokaldas Exports saw a sharp increase in holdings, taking its weight to 0.96% of AUM.

A notable new entry during the month was Tata Motors, which was added with a 1.55% weight in the portfolio.

Sector view

Overall, financials remained the largest exposure, led by holdings in HDFC Bank (4.59% of AUM), ICICI Bank (4.49%) and State Bank of India (3.49%). Energy and large-cap diversified plays also remained prominent, with Reliance Industries accounting for 4.55% of AUM.

The portfolio also maintained strong exposure to infrastructure and industrials through Adani Ports and Special Economic Zone (4.13%) and Cummins India (1.95%), while financial services and capital market plays such as Multi Commodity Exchange of India and PB Fintech continued to feature in the portfolio.