MFs double down on 12 smallcap stocks; 2 deliver double-digit gains in just 2 months – Tracking Smart Money

Retail investors often track the moves of large institutional players, especially mutual funds (MFs), which invest based on thorough research and long-term perspectives. September 2025 shareholding data shows that MFs increased their stakes in nearly 380 listed companies compared with the June quarter. Their top five high-conviction holdings were Equitas Small Finance Bank, Multi Commodity Exchange of India, Gokaldas Exports, Awfis Space Solutions, and Medi Assist Healthcare Services, where fund houses own 33-43%.

However, the more interesting trend lies deeper. We highlight 12 stocks where MF holdings more than doubled quarter-on-quarter, each now having at least 1% MF ownership. Such sharp increases often signal renewed confidence and can precede a rebound or re-rating. Yet most of these stocks have posted negative returns since October, immediately after the September quarter ended. Still, three of the twelve stocks have risen over the past two months, with two delivering strong double-digit gains, early wins for institutional buyers. (Data Source: ACE Equity)