JioBlackRock Flexicap down 6.67% in 2026: 19 fresh buys, 18 exits in September reshuffle

JioBlackRock Flexicap, which has delivered a negative return of 6.67% year-to-date (YTD) through September 30, 2026, has undertaken a significant portfolio reshuffle, adding 19 stocks and completely exiting 18 positions during the month. The fund's performance was marginally better than its benchmark, the Nifty 500 TRI, which declined 6.96% over the same period.

The September portfolio changes also included increases in holdings across 38 stocks and reductions in 34 others, while 46 positions remained unchanged. The activity points to considerable adjustments across the portfolio, even as the fund continued to maintain a predominantly equity-oriented allocation.

Redington, Apollo Hospitals among fresh additions

Among the 19 fresh additions were Redington, Apollo Hospitals Enterprise, GAIL (India), Star Health and Allied Insurance, Five-Star Business Finance and Bank of India. Other new entries included IDFC First Bank, Electronics Mart India, Shadowfax Technologies, Deepak Nitrite and Aegis Logistics.

The additions span multiple sectors, including banking, healthcare, insurance, gas, retail, logistics and chemicals. This indicates that the reshuffle was spread across different parts of the market rather than being limited to a single sector.

At the same time, the fund completely exited 18 stocks. These included Eternal, Laurus Labs, Indraprastha Gas, Thermax, DLF, Edelweiss Financial Services, Bombay Burmah Trading Corporation and HDB Financial Services. Other exits included WeWork India Management, Jammu and Kashmir Bank, FSN E-Commerce Ventures, General Insurance Corporation of India and Kalyan Jewellers.

The near-equal number of fresh entries and exits makes portfolio churn a key feature of the September update. However, the data does not establish whether the changes were driven by valuation considerations, earnings expectations or broader sector outlooks.

MUST READ: Edelweiss US Technology Fund: 40% of portfolio riding the AI supply chain

Increased exposure to select stocks, trimming of others

Beyond fresh buys and exits, the fund increased holdings in 38 stocks. These included Aurobindo Pharma, Balkrishna Industries, Dixon Technologies (India), Bajaj Finance, IPCA Laboratories, TVS Motor Company and Glenmark Pharmaceuticals.

Conversely, holdings were reduced in 34 stocks, including ITC, Larsen & Toubro, Lenskart Solutions, NTPC, BSE, Bajaj Finserv and ICICI Prudential Life Insurance.

The fund also maintained positions in several established portfolio holdings, including Reliance Industries, Infosys, ICICI Bank, HDFC Bank and Bharti Airtel.

ALSO READ: 40.99% in fixed income: How Altiva Hybrid Long-Short Fund is positioning for volatile markets

Performance and portfolio positioning

As of September 30, the fund's one-month return stood at -5.33%, against -6.16% for the Nifty 500 TRI. Over three months, it declined 2.56%, compared with a 3.73% fall in the benchmark. Over six months, however, the fund gained 8.14%, slightly below the benchmark's 8.21%.

The portfolio snapshot showed equity exposure at 99%, with large-cap stocks accounting for 61.2%, mid-caps 19.1% and small-caps 19.7%. Banks formed the largest sector allocation at 19.8%.

While the fund's YTD decline was slightly lower than the benchmark's, the September reshuffle highlights active changes to its stock positions. Whether these adjustments improve relative performance will depend on how the selected stocks perform in the coming months. Portfolio changes alone do not establish the reasons behind the fund's returns or indicate its future performance.

DO READ: Mid-cap funds sink in Sept, but 6 schemes beat the Nifty Midcap 150; Taurus Mid Cap emerges as best performer