Glossary· Portfolio
What is Large / mid / small cap split?
How the equity portfolio divides across the three SEBI size bands.
SEBI ranks all listed companies by market cap: 1–100 are large cap, 101–250 mid cap, 251 onwards small cap. Category rules bind against these bands (a large-cap fund must hold at least 80% large caps), so the split shows both mandate compliance and where the risk really sits.
For the formula and the constants behind this figure, see Methodology.
Guides that use Large / mid / small cap split
8 guides put this term to work.
- How to read a mutual fund factsheet like a proRead it backwards: mandate and benchmark, then holdings and concentration, then cost, then risk — and only then returns. Four minutes, in the right order.
- Equity funds demystified: large cap, mid cap, small cap and the SEBI rulebookSince 2017 every open-ended scheme sits in one defined box with a binding rule on what it must hold. What the boxes mean, and why comparing across them fails.
- Flexi cap vs multi cap: which strategy offers better flexibility?One is obliged to hold small caps; the other is free not to. The 2020 rule change that created the split, and why it affects how you read an older track record.
- Large & Mid Cap funds: the SEBI category that must own both boxesA mandatory 35% large and 35% mid, with 30% at the manager's discretion — so it carries mid-cap risk by rule and cannot retreat when mid caps look expensive.
- Core and satellite: how to build a portfolio you can actually maintainEvery holding is either reliable or interesting, most of the money is in the reliable part, and the interesting part has a size limit set in advance.
- Handling underperformance: when to stay and when to exitSeparating what changed about the fund from what changed about the market: mandate drift, manager exits, and the review habit that survives a bad quarter.
- Fund manager changes: should you panic when the captain leaves?Were you buying a person or a process? What to check immediately, what to watch for six to twelve months, and the one situation where moving quickly is free.
- Focused funds: is holding only 30 stocks conviction or recklessness?The stock cap is a multiplier on the manager's process, not a strategy — it widens the distribution of outcomes without raising the expected return.
More on portfolio
What the fund actually holds, aggregated from its published holdings.
- AUM
- The total money the scheme currently manages.
- P/E ratio
- The weighted-average P/E of the fund's equity holdings.
- P/B ratio
- The weighted-average price-to-book of the fund's equity holdings.
- Average market cap
- The weighted-average size of the companies the fund holds.
- ASM
- An NSE flag on a stock showing unusual price or volume activity.