THERMAX LTD
Last close
₹3,551.90
18 Sep 2026 · +7.3% over the year
Held by
116funds
latest disclosure month
Average weight per holder
0.8%
Σ across holders 92.0% · -8.81% over 3 months
Days to exit
235
aggregate MF position at 20% of average daily volume
Who holds it
every fund's latest position, when it first appeared, and the price then against now · 130 rows: 116 holders and recent exits
| Fund | Weight | Since | Entry close | Now vs entry | 3-mo change | Action |
|---|---|---|---|---|---|---|
| SBI Energy Opportunities Fund Sectoral/ Thematic · held 2.6 yrs | 4.14% | Feb 2024 | ₹3,637.25 | −2% | -1.36% | trimmed |
| LIC MF Mid Cap Fund Mid Cap · held 2 mo | 2.69% | Jul 2026 | ₹4,306.00 | −18% | +2.69% | entered |
| Aditya Birla Sun Life Midcap Fund Mid Cap · held 7.1 yrs | 2.43% | Jul 2018 | ₹1,172.85 | +203% | -0.80% | added |
| LIC MF Aggressive Hybrid Fund Aggressive Hybrid · held 2 mo | 2.19% | Jul 2026 | ₹4,306.00 | −18% | +2.19% | entered |
| Bajaj Finserv Large & Mid Cap Fund Large & Mid Cap · held 4 mo | 2.09% | Apr 2026 | ₹4,077.60 | −13% | +1.00% | added |
| Sundaram Large and Midcap Fund Large & Mid Cap · held 2 mo | 1.99% | Jul 2026 | ₹4,306.00 | −18% | +1.99% | entered |
| HSBC Midcap Fund Mid Cap · held 3.3 yrs | 1.88% | Nov 2022 | ₹2,048.90 | +73% | -0.02% | added |
| Bajaj Finserv Flexi Cap Fund Flexi Cap · held 5 mo | 1.87% | Apr 2026 | ₹4,077.60 | −13% | -0.54% | added |
| Sundaram Mid Cap Fund Mid Cap · held 3.7 yrs | 1.77% | Feb 2017 | ₹859.55 | +313% | +0.17% | added |
| SBI FOCUSED FUND Focused · held 1.3 yrs | 1.75% | Jun 2025 | ₹3,419.30 | +4% | -0.71% | held |
| Sundaram Flexicap Fund Flexi Cap · held 6 mo | 1.75% | Mar 2026 | ₹3,260.70 | +9% | +0.72% | added |
| Sundaram ELSS Tax Saver Fund ELSS · held 6 mo | 1.74% | Mar 2026 | ₹3,260.70 | +9% | +0.72% | added |
| SBI Large Cap Fund Large Cap · held 5.8 yrs | 1.66% | Aug 2018 | ₹1,030.45 | +245% | -1.04% | trimmed |
| Sundaram Infrastructure Advantage Fund (Erstwhile Sundaram Capex Opportunities) Sectoral/ Thematic · held 2.5 yrs | 1.61% | Mar 2024 | ₹4,192.35 | −15% | -0.39% | held |
| Groww BSE Power ETF Other ETFs · held 1.1 yrs | 1.61% | Aug 2025 | ₹3,207.60 | +11% | -0.20% | added |
| LIC MF Unit Linked Insurance Scheme (ULIS) ELSS · held 2 mo | 1.58% | Jul 2026 | ₹4,306.00 | −18% | +1.58% | entered |
| LIC MF Balanced Advantage Fund Dynamic Asset Allocation or Balanced Advantage · held 4 mo | 1.54% | May 2026 | ₹4,982.70 | −29% | -0.49% | held |
| Canara Robeco Mid Cap Fund Mid Cap · held 6 mo | 1.49% | Mar 2026 | ₹3,260.70 | +9% | -0.66% | held |
| SBI Innovative Opportunities Fund Sectoral/ Thematic · held 2.1 yrs | 1.42% | Aug 2024 | ₹4,372.80 | −19% | -2.62% | trimmed |
| JM Mid Cap Fund Mid Cap · held 1.5 yrs | 1.34% | Dec 2023 | ₹3,081.50 | +15% | +0.76% | added |
| SBI ESG Exclusionary Strategy Fund Sectoral/ Thematic · held 2.6 yrs | 1.34% | Feb 2024 | ₹3,637.25 | −2% | -0.94% | trimmed |
| ITI Multi Cap Fund Multi Cap · held 2.2 yrs | 1.32% | May 2021 | ₹1,423.95 | +149% | +1.32% | entered |
| Aditya Birla Sun Life Multi Asset Allocation Fund Multi Asset Allocation · held 2.5 yrs | 1.31% | Mar 2024 | ₹4,192.35 | −15% | -0.58% | held |
| SBI Retirement Benefit Fund - Aggressive Plan Retirement · held 2.0 yrs | 1.28% | Sep 2024 | ₹5,100.20 | −30% | -0.48% | held |
| Motilal Oswal Nifty Midcap 150 Momentum 50 ETF Other ETFs · held 3 mo | 1.23% | Jun 2026 | ₹5,159.50 | −31% | +1.23% | entered |
| SBI Nifty Midcap 150 Momentum 50 ETF Other ETFs · held 3 mo | 1.23% | Jun 2026 | ₹5,159.50 | −31% | +1.23% | entered |
| Tata Nifty Midcap 150 Momentum 50 Index Fund Index Funds · held 2.4 yrs | 1.23% | Oct 2022 | ₹2,171.95 | +64% | +1.23% | entered |
| Motilal Oswal BSE Midcap 150 Momentum 30 Index Fund Index Funds · held 2 mo | 1.22% | Jul 2026 | ₹4,306.00 | −18% | +1.22% | entered |
| Mirae Asset BSE Midcap 150 Momentum 30 ETF Equity ETF · held 2 mo | 1.19% | Jul 2026 | ₹4,306.00 | −18% | — | held |
| ITI Small Cap Fund Small Cap · held 8 mo | 1.14% | Nov 2021 | ₹1,753.50 | +103% | +0.37% | added |
| Sundaram Multi-Factor Fund Sectoral/ Thematic · held 3 mo | 1.11% | Jun 2026 | ₹5,159.50 | −31% | +1.11% | entered |
| LIC MF Manufacturing Fund Sectoral/ Thematic · held 8 mo | 1.06% | Jan 2026 | ₹2,878.00 | +23% | -0.52% | trimmed |
| SBI Retirement Benefit Fund - Aggressive Hybrid Plan Retirement · held 2.0 yrs | 1.06% | Sep 2024 | ₹5,100.20 | −30% | -0.38% | held |
| Sundaram Multi Cap Fund (Formerly Known as Principal Multi Cap Growth Fund) Multi Cap · held 2 mo | 1.03% | Jul 2026 | ₹4,306.00 | −18% | +1.03% | entered |
| Tata Dividend Yield Fund Dividend Yield · held 3.8 yrs | 0.98% | Dec 2022 | ₹1,968.20 | +80% | -0.38% | held |
| Axis Nifty500 Momentum 50 Index Fund Equity Funds · held 3 mo | 0.96% | Jun 2026 | ₹5,159.50 | −31% | +0.96% | entered |
| Bandhan Nifty 500 Momentum 50 Index Fund Index Funds · held 5 mo | 0.96% | Oct 2024 | ₹4,925.45 | −28% | +0.96% | entered |
| Motilal Oswal Nifty 500 Momentum 50 ETF Other ETFs · held 6 mo | 0.96% | Sep 2024 | ₹5,100.20 | −30% | +0.96% | entered |
| Motilal Oswal Nifty 500 Momentum 50 Index Fund Index Funds · held 6 mo | 0.96% | Sep 2024 | ₹5,100.20 | −30% | +0.96% | entered |
| Nippon India Nifty 500 Momentum 50 Index Fund Index Funds · held 6 mo | 0.96% | Sep 2024 | ₹5,100.20 | −30% | +0.96% | entered |
| Groww Nifty 500 Momentum 50 ETF Other ETFs · held 3 mo | 0.96% | Jun 2026 | ₹5,159.50 | −31% | +0.96% | entered |
| Aditya Birla Sun Life Retirement Fund-The 30s Plan Retirement · held 2.3 yrs | 0.93% | Feb 2024 | ₹3,637.25 | −2% | -0.37% | held |
| Mirae Asset Nifty Energy ETF Equity ETF · held 10 mo | 0.93% | Nov 2025 | ₹2,920.10 | +22% | -0.24% | trimmed |
| Axis Nifty Energy ETF Equity ETF · held 1 mo | 0.93% | Aug 2026 | ₹3,901.60 | −9% | — | held |
| Axis Nifty Energy Index Fund Equity Funds · held 1 mo | 0.93% | Aug 2026 | ₹3,901.60 | −9% | — | held |
| Motilal Oswal Nifty Energy ETF Other ETFs · held 11 mo | 0.93% | Oct 2025 | ₹3,218.80 | +10% | -0.24% | trimmed |
| Aditya Birla Sun Life Retirement Fund-The 40s Plan Retirement · held 2.5 yrs | 0.92% | Mar 2024 | ₹4,192.35 | −15% | -0.30% | held |
| Aditya Birla Sun Life Manufacturing Equity Fund Sectoral/ Thematic · held 11 mo | 0.90% | Oct 2025 | ₹3,218.80 | +10% | -0.45% | held |
| Tata Mid Cap Fund Mid Cap · held 1.3 yrs | 0.89% | Jun 2025 | ₹3,419.30 | +4% | -0.34% | held |
| Aditya Birla Sun Life Infrastructure Fund Sectoral/ Thematic · held 2.3 yrs | 0.89% | Feb 2024 | ₹3,637.25 | −2% | -0.73% | trimmed |
A holder disclosed the stock in the latest month or the one before; an exit is listed for three disclosures. Entry close is the split- and bonus-adjusted close at the end of the month the fund first disclosed the position; “now vs entry” is price only, not the fund's return on the position. Estimated cost basis per fund from monthly unit deltas is not computed in this build.
Three-month flow
−0.09 pp
net change in Σ fund weight over the last three disclosures (percentage points summed across funds) · 71 added or entered, 35 trimmed or exited
Crowding
116 funds hold it, at an average weight of 0.8% each (92.0% summed across holders). At a fifth of average daily volume (2,60,960 shares), the aggregate fund position would take about 235 trading days to exit.
Why this might matterThe curation backtest found consensus positions anti-correlated with forward upside: when everyone already owns it, the marginal buyer is gone, and a crowded exit moves the price against every seller at once.
Why it might notBreadth of ownership is also what a large, liquid, well-run company looks like. Crowding measures how many funds agree, not whether they are right; MF ownership as a share of the company needs issue size, which is not loaded.
Who moved last quarter
the three-month flow, fund by fund — largest move first
Trimmed: funds that held it three disclosures ago and hold less of it now.
| Fund | 3-mo change | Weight now | Since | Now vs entry |
|---|---|---|---|---|
| SBI Innovative Opportunities Fund Sectoral/ Thematic | -2.62% | 1.42% | Aug 2024 | −19% |
| SBI Energy Opportunities Fund Sectoral/ Thematic | -1.36% | 4.14% | Feb 2024 | −2% |
| HSBC Equity Savings Fund Equity Savings | -1.29% | 0.07% | Mar 2023 | +55% |
| SBI Large Cap Fund Large Cap | -1.04% | 1.66% | Aug 2018 | +245% |
| Bandhan Large & Mid Cap Fund Large & Mid Cap | -0.98% | 0.20% | May 2024 | −34% |
| SBI ESG Exclusionary Strategy Fund Sectoral/ Thematic | -0.94% | 1.34% | Feb 2024 | −2% |
| LIC MF Value Fund Value | -0.84% | 0.66% | Dec 2025 | +18% |
| SBI ELSS Tax Saver Fund ELSS | -0.75% | 0.12% | Feb 2020 | +285% |
| Aditya Birla Sun Life Infrastructure Fund Sectoral/ Thematic | -0.73% | 0.89% | Feb 2024 | −2% |
| LIC MF Manufacturing Fund Sectoral/ Thematic | -0.52% | 1.06% | Jan 2026 | +23% |
| SBI MIDCAP FUND Mid Cap | -0.49% | 0.79% | Aug 2018 | +245% |
| Motilal Oswal Nifty Energy ETF Other ETFs | -0.24% | 0.93% | Oct 2025 | +10% |
| Mirae Asset Nifty Energy ETF Equity ETF | -0.24% | 0.93% | Nov 2025 | +22% |
| HSBC Multi Cap Fund Multi Cap | -0.19% | 0.33% | May 2026 | −29% |
| UTI Nifty Midcap 150 Exchange Traded Fund Equity ETF | -0.13% | 0.35% | Sep 2023 | +14% |
| Bandhan Nifty Midcap 150 Index Fund Index Funds | -0.13% | 0.35% | Sep 2024 | −30% |
| Mirae Asset Nifty LargeMidcap 250 Index Fund Equity Funds | -0.07% | 0.18% | Oct 2024 | −28% |
| Mirae Asset Nifty500 Multicap 50 25 25 ETF Equity ETF | -0.03% | 0.09% | Aug 2024 | −19% |
| BANDHAN NIFTY TOTAL MARKET INDEX FUND Index Funds | -0.03% | 0.07% | Aug 2024 | −19% |
| Motilal Oswal BSE 1000 Index Fund Index Funds | -0.03% | 0.07% | Jun 2025 | +4% |
| Mirae Asset Nifty Total Market Index Fund Equity Funds | -0.02% | 0.07% | Oct 2024 | −28% |
| SBI Nifty 500 Index Fund Index Funds | -0.02% | 0.08% | Sep 2024 | −30% |
One year, adjusted
daily close, split- and bonus-adjusted
Prices are the NSE close — the company quotes on both exchanges and the NSE carries the liquidity for almost every dual listing, so one series is shown rather than two that would mostly agree. The series is adjusted for splits and bonuses so a 1:1 bonus does not read as a 50% fall. A dated corporate-action timeline (rights, demergers) is not loaded in this build and is not shown rather than guessed.