Samir Arora explains why his Helios Flexi Cap Fund had 21% cash in February end

With Helios Flexi Cap Fund holding 20.60% cash in its portfolio as of February 28, 2025, Samir Arora, founder and CIO of Helios Mutual Fund, explains that this reflects the fund’s position on the last day of the month—not five days before or after—and that such occurrences can happen by chance unless they indicate a consistent trend.

He posted on social media, "This is the position as of the last day of the month—not five days before or five days later. These things can happen by chance unless you see a trend."



According to Samir Arora, when the fund house needs to hold cash, it will, and at present, there is insufficient information to determine whether this is merely a coincidence or a shift in investment strategy.

Also Read | Samir Arora increases cash allocation from 2% to 21% in February in Helios Flexi Cap Fund

"When we have to sit on cash, we will, but right now, you have insufficient information to know whether this was just a coincidence or a complete reversal of style and view," Arora said on social media.

Helios Flexi Cap Fund saw its cash allocation surge from 1.70% in January to 20.60% in February.

Fund managers are permitted to hold a portion of their portfolio in cash to manage redemptions or seize market opportunities as they arise.

The fund’s stock count decreased to 45 in February, down from 53 in January. Helios Flexi Cap Fund is an open-ended dynamic equity scheme that invests across large-cap, mid-cap, and small-cap stocks.

In February, the fund offloaded approximately 3.54 lakh shares of S H Kelkar and Company, reducing its holding to 3.04 lakh shares, down from 6.59 lakh shares in January. Additionally, it sold 50,024 shares of KPIT Technologies.

Conversely, the fund increased its stake in eight stocks, including Bajaj Finance, Bharti Airtel, DLF, Fortis Healthcare, ICICI Bank, Motilal Oswal Financial Services, Varun Beverages, and Zomato.

Also Read | RVNL, Infosys among top stocks bought and sold by mutual funds in February

Among the largest additions in February, the fund acquired 9.58 lakh shares of Zomato, 2.99 lakh shares of DLF, and 10,780 shares of Bajaj Finance.

The fund’s exposure in 32 stocks remained unchanged, including Adani Energy Solutions, Adani Ports and Special Economic Zone, GlaxoSmithKline Pharmaceuticals, HDFC AMC, Lemon Tree Hotels, NTPC, REC, PNB Housing Finance, RIL, and SBI.

Three new stocks were added to the portfolio: ABB India, Bajaj Auto, and Kotak Mahindra Bank. The fund purchased 1.91 lakh shares of Kotak Mahindra Bank, 68,657 shares of ABB India, and 49,688 shares of Bajaj Auto in February.

Meanwhile, the fund completely exited 11 stocks, including Coforge, Ganesha Ecosphere, HCL Technologies, Hindustan Aeronautics, Infosys, PB Fintech, Piramal Pharma, Swiggy, TCS, The Indian Hotels Company, and Zaggle Prepaid Ocean Services.