Mutual Funds Holding Thermax Limited

Industrials61 fundsISIN INE152A01029

As of 30 September 2026, 61 Indian mutual funds hold Thermax Limited (Industrials), led by SBI Energy Opportunities Fund at 3.76% of its net assets, per the AMCs' SEBI-mandated monthly disclosures.

As of 30 September 2026, 61 Indian mutual fund schemes disclose a holding in Thermax Limited (Industrials). The table below lists every fund holding this stock along with its weight as a percentage of the fund's net assets (% to NAV), sorted from the highest conviction position downward.

Holding Analysis

Across the 61 funds holding Thermax Limited, the average position size is 1.04% of net assets. The highest-conviction holder is SBI Energy Opportunities Fund (Thematic), at 3.76%. Equity funds account for 36 of the 61 holders, with the rest spread across 2 other categories. Over the last month, 7 funds initiated a new position and 10 funds exited, with the largest weight change at HSBC Equity Savings Fund (-0.83pp to 0.07%).

Fund Activity Last Month

How funds changed their Thermax Limited position between their two latest monthly disclosures. Weights are % to NAV; weight moves can also reflect price changes, not only buying or selling.

7 started a position10 exited3 increased15 reduced

New Positions

Sundaram Business Cycle Fund at 3.04%
Kotak Quant Fund at 1.73%
Sundaram Dividend Yield Fund at 1.61%
Sundaram Aggressive Hybrid Fund at 0.49%
Sundaram Multi Asset Allocation Fund at 0.47%
Sundaram Dynamic Asset Allocation Fund at 0.44%
Sundaram Equity Savings Fund at 0.25%

Complete Exits

LIC MF MID CAP FUND was 2.69%
Samco Multi Cap Fund was 1.46%
SBI Innovative Opportunities Fund was 1.42%
Samco Multi Asset Allocation Fund was 1.19%
Edelweiss Business Cycle Fund was 0.72%
TRUSTMF Mid Cap Fund was 0.68%
LIC MF VALUE FUND was 0.66%
JioBlackRock Flexi Cap Fund was 0.31%
Bandhan Large & Mid Cap Fund was 0.2%
JioBlackRock Large Cap Fund was 0.1%

Weight Increased

Fund	Weight	Change
Sundaram Mid Cap Fund	1.77% → 2.2%	▲ +0.43
Sundaram Multi Cap Fund	1.03% → 1.3%	▲ +0.27
Aditya Birla Sun Life Infrastructure Fund	0.89% → 1.01%	▲ +0.12

Weight Reduced

Fund	Weight	Change
HSBC Equity Savings Fund	0.9% → 0.07%	▼ -0.83
SBI Midcap Fund	0.79% → 0.27%	▼ -0.52
HSBC Midcap Fund	2.29% → 1.88%	▼ -0.41
SBI Focused Fund	1.75% → 1.35%	▼ -0.4
Bajaj Finserv Flexi Cap Fund	1.87% → 1.49%	▼ -0.38
SBI Energy Opportunities Fund	4.14% → 3.76%	▼ -0.38
HSBC Multi Cap Fund	0.66% → 0.33%	▼ -0.33
LIC MF AGGRESSIVE HYBRID FUND	2.19% → 1.91%	▼ -0.28
Aditya Birla Sun Life Midcap Fund	2.43% → 2.25%	▼ -0.18
Sundaram Large and Mid Cap Fund	1.99% → 1.83%	▼ -0.16
Aditya Birla Sun Life Multi Asset Allocation Fund	1.31% → 1.16%	▼ -0.15
CANARA ROBECO INFRASTRUCTURE	0.88% → 0.74%	▼ -0.14
SBI Large Cap Fund	1.66% → 1.52%	▼ -0.14
Sundaram Infrastructure Advantage Fund	1.61% → 1.47%	▼ -0.14
Kotak Flexicap Fund	1.5% → 1.39%	▼ -0.11

Funds Holding Thermax Limited

#	Fund	AMC	Category	% to NAV
1	SBI Energy Opportunities Fund	SBI Mutual Fund	Thematic	3.76%
2	Sundaram Business Cycle Fund	Sundaram Mutual Fund	Thematic	3.04%
3	Aditya Birla Sun Life Midcap Fund	Aditya Birla Sun Life Mutual Fund	Equity	2.25%
4	Sundaram Mid Cap Fund	Sundaram Mutual Fund	Equity	2.2%
5	The Wealth Company Mid Cap Fund	The Wealth Company Mutual Fund	Equity	1.97%
6	LIC MF AGGRESSIVE HYBRID FUND	LIC Mutual Fund	Hybrid	1.91%
7	HSBC Midcap Fund	HSBC Mutual Fund	Equity	1.88%
8	Sundaram Large and Mid Cap Fund	Sundaram Mutual Fund	Equity	1.83%
9	Bajaj Finserv Large and Midcap Fund	Bajaj Finserv Mutual Fund	Equity	1.73%
10	Kotak Quant Fund	Kotak Mahindra Mutual Fund	Equity	1.73%
11	Sundaram Flexi Cap Fund	Sundaram Mutual Fund	Equity	1.72%
12	Sundaram ELSS Tax Saver Fund	Sundaram Mutual Fund	Equity	1.7%
13	Samco Mid Cap Fund	Samco Mutual Fund	Equity	1.62%
14	Sundaram Dividend Yield Fund	Sundaram Mutual Fund	Equity	1.61%
15	CANARA ROBECO MID CAP FUND	Canara Robeco Mutual Fund	Equity	1.53%
16	SBI Large Cap Fund	SBI Mutual Fund	Equity	1.52%
17	Bajaj Finserv Flexi Cap Fund	Bajaj Finserv Mutual Fund	Equity	1.49%
18	Sundaram Infrastructure Advantage Fund	Sundaram Mutual Fund	Thematic	1.47%
19	LIC MF BALANCED ADVANTAGE FUND	LIC Mutual Fund	Hybrid	1.43%
20	Kotak Active Momentum Fund	Kotak Mahindra Mutual Fund	Equity	1.41%
21	Kotak Flexicap Fund	Kotak Mahindra Mutual Fund	Equity	1.39%
22	SBI Focused Fund	SBI Mutual Fund	Equity	1.35%
23	Sundaram Multi Cap Fund	Sundaram Mutual Fund	Equity	1.3%
24	ITI Multi Cap Fund	ITI Mutual Fund	Equity	1.29%
25	SBI ESG Exclusionary Strategy Fund	SBI Mutual Fund	Thematic	1.26%
26	JM Midcap Fund	JM Financial Mutual Fund	Equity	1.22%
27	Aditya Birla Sun Life Multi Asset Allocation Fund	Aditya Birla Sun Life Mutual Fund	Hybrid	1.16%
28	ITI Small Cap Fund	ITI Mutual Fund	Equity	1.07%
29	Sundaram Multi-Factor Fund	Sundaram Mutual Fund	Equity	1.04%
30	Aditya Birla Sun Life Infrastructure Fund	Aditya Birla Sun Life Mutual Fund	Thematic	1.01%
31	LIC MF MANUFACTURING FUND	LIC Mutual Fund	Thematic	0.9%
32	TATA DIVIDEND YIELD FUND	Tata Mutual Fund	Equity	0.89%
33	ITI Large & Mid Cap Fund	ITI Mutual Fund	Equity	0.83%
34	ITI Mid Cap Fund	ITI Mutual Fund	Equity	0.83%
35	TATA MID CAP FUND	Tata Mutual Fund	Equity	0.82%
36	HSBC Large & Mid Cap Fund	HSBC Mutual Fund	Equity	0.81%
37	Aditya Birla Sun Life Manufacturing Equity Fund	Aditya Birla Sun Life Mutual Fund	Thematic	0.8%
38	CANARA ROBECO INFRASTRUCTURE	Canara Robeco Mutual Fund	Thematic	0.74%
39	CANARA ROBECO INFRASTRUCTURE FUND	Canara Robeco Mutual Fund	Thematic	0.63%
40	HSBC Multi Asset Allocation Fund	HSBC Mutual Fund	Hybrid	0.6%
41	TATA MULTI ASSET ALLOCATION FUND	Tata Mutual Fund	Hybrid	0.55%
42	ICICI Prudential Multicap Fund	ICICI Prudential Mutual Fund	Equity	0.51%
43	Sundaram Aggressive Hybrid Fund	Sundaram Mutual Fund	Hybrid	0.49%
44	LIC MF EQUITY SAVINGS FUND	LIC Mutual Fund	Hybrid	0.48%
45	Sundaram Multi Asset Allocation Fund	Sundaram Mutual Fund	Hybrid	0.47%
46	Sundaram Dynamic Asset Allocation Fund	Sundaram Mutual Fund	Hybrid	0.44%
47	Edelweiss Mid Cap Fund	Edelweiss Mutual Fund	Equity	0.41%
48	Edelweiss Flexi-Cap Fund	Edelweiss Mutual Fund	Equity	0.37%
49	HSBC Multi Cap Fund	HSBC Mutual Fund	Equity	0.33%
50	ICICI Prudential Large & Mid Cap Fund	ICICI Prudential Mutual Fund	Equity	0.29%
51	SBI Midcap Fund	SBI Mutual Fund	Equity	0.27%
52	Sundaram Equity Savings Fund	Sundaram Mutual Fund	Hybrid	0.25%
53	Bajaj Finserv Multi Asset Allocation Fund	Bajaj Finserv Mutual Fund	Hybrid	0.22%
54	PGIM INDIA MIDCAP FUND	PGIM India Mutual Fund	Equity	0.21%
55	ICICI Prudential Midcap Fund	ICICI Prudential Mutual Fund	Equity	0.13%
56	Zerodha Life Cycle Fund 2041	Zerodha Mutual Fund	Hybrid	0.12%
57	SBI ELSS Tax Saver Fund	SBI Mutual Fund	Equity	0.11%
58	Zerodha Life Cycle Fund 2036	Zerodha Mutual Fund	Hybrid	0.11%
59	Zerodha Life Cycle Fund 2031	Zerodha Mutual Fund	Hybrid	0.08%
60	HSBC Equity Savings Fund	HSBC Mutual Fund	Hybrid	0.07%
61	JioBlackRock Sector Rotation Fund	Jio BlackRock Mutual Fund	Thematic	0.07%

Want to interpret these weights? Read How to Read a Mutual Fund's Monthly Portfolio Disclosure, or look up terms like % to NAV and conviction in the glossary.

Source: SEBI-mandated monthly portfolio disclosures by Indian AMCs. Percentages are of each fund's net assets on its latest disclosure date. For information only, not investment advice.