MFs pull back: Stakes cut in 11 smallcap stocks in Q3 after two quarters of buying
1/12
Stake Cut
An analysis of mutual fund (MF) shareholding trends in BSE smallcap stocks over the last four quarters reveals a notable shift. In the December 2025 quarter, mutual funds trimmed their holdings in 67 stocks, marking a reversal after two consecutive quarters of accumulation—from March 2025 to June 2025 and from June 2025 to September 2025.
Nearly half of the stocks on the list—around 32—have delivered negative price returns so far in FY26. In fact, 11 of them have seen their share prices fall by 30–60% during the fiscal year. At the same time, it is important to note that some stocks have recorded substantial gains, rising between 50% and 140%. However, this analysis focuses specifically on the major losers. Mutual funds are considered informed investors, often basing their decisions on in-depth research and long-term fundamentals. While mutual fund buying typically boosts investor confidence, a reduction in their stakes after a period of steady accumulation is worth paying attention to. (Data Source: ACE Equity)
Nearly half of the stocks on the list—around 32—have delivered negative price returns so far in FY26. In fact, 11 of them have seen their share prices fall by 30–60% during the fiscal year. At the same time, it is important to note that some stocks have recorded substantial gains, rising between 50% and 140%. However, this analysis focuses specifically on the major losers. Mutual funds are considered informed investors, often basing their decisions on in-depth research and long-term fundamentals. While mutual fund buying typically boosts investor confidence, a reduction in their stakes after a period of steady accumulation is worth paying attention to. (Data Source: ACE Equity)
2/12
SKF India
MF holding declined to 23.75% in the December ’25 quarter from 23.83% in September ’25.
Previous quarters: Mar ’25: 23.10% | Jun ’25: 23.33% | Sep ’25: 23.83%.
FY26 performance: -58%
Previous quarters: Mar ’25: 23.10% | Jun ’25: 23.33% | Sep ’25: 23.83%.
FY26 performance: -58%
3/12
Go Fashion (India)
MF holding declined to 26.15% in the December ’25 quarter from 28.05% in September ’25.
Previous quarters: Mar ’25: 25.16% | Jun ’25: 27.25% | Sep ’25: 28.05%.
FY26 performance: -57%
Previous quarters: Mar ’25: 25.16% | Jun ’25: 27.25% | Sep ’25: 28.05%.
FY26 performance: -57%
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4/12
Ganesha Ecosphere
MF holding declined to 21.58% in the December ’25 quarter from 22.47% in September ’25.
Previous quarters: Mar ’25: 21.26% | Jun ’25: 22.15% | Sep ’25: 22.47%.
FY26 performance: -55%
Previous quarters: Mar ’25: 21.26% | Jun ’25: 22.15% | Sep ’25: 22.47%.
FY26 performance: -55%
5/12
Shakti Pumps (India)
MF holding declined to 6.18% in the December ’25 quarter from 6.59% in September ’25.
Previous quarters: Mar ’25: 4.07% | Jun ’25: 4.71% | Sep ’25: 6.59%.
FY26 performance: -51%
Previous quarters: Mar ’25: 4.07% | Jun ’25: 4.71% | Sep ’25: 6.59%.
FY26 performance: -51%
6/12
Reliance Power
MF holding declined to 0.46% in the December ’25 quarter from 0.72% in September ’25.
Previous quarters: Mar ’25: 0.38% | Jun ’25: 0.71% | Sep ’25: 0.72%.
FY26 performance: -48%
Previous quarters: Mar ’25: 0.38% | Jun ’25: 0.71% | Sep ’25: 0.72%.
FY26 performance: -48%
7/12
Sundaram-Clayton
Sundaram-Clayton
MF holding declined to 20.96% in the December ’25 quarter from 21.06% in September ’25.
Previous quarters: Mar ’25: 17.22% | Jun ’25: 20.16% | Sep ’25: 21.06%.
FY26 performance: -42%
MF holding declined to 20.96% in the December ’25 quarter from 21.06% in September ’25.
Previous quarters: Mar ’25: 17.22% | Jun ’25: 20.16% | Sep ’25: 21.06%.
FY26 performance: -42%
8/12
Bata India
MF holding declined to 17.34% in the December ’25 quarter from 17.38% in September ’25.
Previous quarters: Mar ’25: 16.37% | Jun ’25: 16.88% | Sep ’25: 17.38%.
FY26 performance: -41%
Previous quarters: Mar ’25: 16.37% | Jun ’25: 16.88% | Sep ’25: 17.38%.
FY26 performance: -41%
9/12
AGI Greenpac
MF holding declined to 1.51% in the December ’25 quarter from 1.52% in September ’25.Previous quarters: Mar ’25: 0.73% | Jun ’25: 0.92% | Sep ’25: 1.52%.FY26 performance: -34%
10/12
Stove Kraft
MF holding declined to 6.49% in the December ’25 quarter from 6.55% in September ’25.
Previous quarters: Mar ’25: 5.59% | Jun ’25: 6.43% | Sep ’25: 6.55%.
FY26 performance: -34%
Previous quarters: Mar ’25: 5.59% | Jun ’25: 6.43% | Sep ’25: 6.55%.
FY26 performance: -34%
11/12
Action Construction Equipment
MF holding declined to 0.49% in the December ’25 quarter from 0.50% in September ’25.
Previous quarters: Mar ’25: 0.44% | Jun ’25: 0.46% | Sep ’25: 0.50%.
FY26 performance: -32%
Previous quarters: Mar ’25: 0.44% | Jun ’25: 0.46% | Sep ’25: 0.50%.
FY26 performance: -32%
12/12
Symphony
MF holding declined to 8.64% in the December ’25 quarter from 8.72% in September ’25.
Previous quarters: Mar ’25: 8.19% | Jun ’25: 8.32% | Sep ’25: 8.72%.
FY26 performance: -31%
Previous quarters: Mar ’25: 8.19% | Jun ’25: 8.32% | Sep ’25: 8.72%.
FY26 performance: -31%