SBI Large Cap Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

SBI Large Cap Fund Direct Growth Plan currently has a NAV of ₹101.4878 as of 09 Sep 2026 and a scheme AUM of ₹55,139 Cr. Its 1-year, 3-year and 5-year returns are -0.95%, 8.66% and 9.26% respectively, and it sits in the High Risk category.

Our view is that this is a large, diversified large-cap equity fund that has been steadier over longer periods than in the recent year, but it has still lagged the benchmark across the available time frames. The portfolio is led by banks and other large businesses, so it can suit investors who are comfortable with equity volatility and who are looking beyond short-term swings.

Quick facts

Particular	Details
NAV	₹101.4878 as of 09 Sep 2026
AUM	₹55,139 Cr
Expense Ratio	0.79%
Launch Date	01 Jan 2013
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	0.25% on or before 30D, 0.10% after 30D but before 90D, Nil after 90D
Fund Managers	Saurabh Pant

The fund is managed by Saurabh Pant.

Source data date: as of 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-4.39%	-4.69%
3M	1.14%	0.93%
1Y	-0.95%	-7.16%
3Y	8.66%	6%
5Y	9.26%	5.87%

The last month was weak for the fund, but it still held up a little better than the benchmark over the same stretch. That matters because both the fund and the Nifty 50 were under pressure, and the fund’s narrower decline suggests it cushioned some of the drawdown.

The three-month picture is more constructive. The fund stayed slightly ahead of the benchmark, which indicates that the recent rebound has not been limited to one short burst; it has been enough to keep the fund modestly in front on the quarter.

The one-year return is still negative, yet it is far less weak than the benchmark’s decline. That gap tells us the fund has been more resilient than the Nifty 50 over a full year, even if the absolute outcome remains disappointing for an equity product.

Over three and five years, the longer compounding pattern is healthier. The fund has stayed above the benchmark in both windows, which supports the case that the strategy has worked better over a full cycle than in the most recent year. Our view is that the short-term picture is choppier than the longer-term trend, so investors need patience to let the portfolio’s equity exposure work through market swings.

Source data date: as of 09 Sep 2026

Should you BUY or HOLD SBI Large Cap?

A fund's past returns alone don't tell you whether you should buy it today or continue holding it.

The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.

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Peer comparison

Fund	1Y return	3Y return	5Y return
SBI Large Cap Fund Direct Growth Plan	-0.95%	8.66%	9.26%
Quant Large Cap Fund Direct Growth Plan	8.13%	13.11%	Data not available
Taurus Large Cap Fund Direct Growth Plan	6.99%	12.61%	10.27%
Bank of India Large Cap Fund Direct Growth Plan	6.82%	12.8%	9.84%
Invesco India Largecap Fund Direct Growth Plan	3.91%	13.77%	11.79%
ITI Large Cap Fund Direct Growth Plan	3.08%	11%	9.6%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

On the latest one-year measure, the fund trails the stronger peer outcomes by a clear margin, even though it still beats the benchmark on the same horizon. That tells us the recent stretch has been softer than several peers, but not as weak as the market reference.

The three-year and five-year figures are more balanced. The fund is behind some peers that have stronger multi-year numbers, yet it remains competitive with others on the table, especially when compared with funds that show only modest long-term gains. The shorter-term comparison and the longer-term comparison therefore do not tell the same story: the fund looks weaker recently than several peers, but its multi-year record is not out of step with the broader group.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Bank Ltd.	Bank	8.66%
HDFC Bank Ltd.	Bank	7.78%
Larsen & Toubro Ltd.	Infrastructure	5.43%
Samvardhana Motherson International Ltd.	Automobile & Ancillaries	3.77%
State Bank of India	Bank	3.67%
Infosys Ltd.	IT	3.66%
Kotak Mahindra Bank Ltd.	Bank	3.65%
Reliance Industries Ltd.	Crude Oil	3.59%
Asian Paints Ltd.	Chemicals	3.56%
Divi'S Laboratories Ltd.	Healthcare	3.49%

The top 10 holdings account for approximately 47.26% of the portfolio.

To see all holdings, visit the SBI Large Cap Fund Direct Growth Plan page

The largest holding, ICICI Bank Ltd. at 8.66%, is meaningfully larger than each of the other positions, but the difference is not extreme. The gap from the first holding to the tenth is fairly gradual, which suggests the portfolio is not built around a single outsized bet.

Even so, the top holdings still matter. The top 10 together account for 47.26% of the portfolio, so a relatively small set of companies is likely to have greater influence on returns than the long tail of the remaining 34 holdings. That can support efficiency in a large-cap strategy, but it also means stock selection in the largest positions may matter more than in a broadly diluted portfolio.

Our view is that the structure looks moderately concentrated rather than highly dispersed. Banks alone occupy several of the biggest slots, while the rest of the list adds exposure to infrastructure, IT, consumer, healthcare and other large businesses. That mix may help reduce dependence on a single sector theme, even though the overall portfolio still has a clear heavyweight core.

Source data date: as of 09 Sep 2026

Who should invest

This fund suits investors who can tolerate a High Risk equity profile and are comfortable with short-term volatility. The one-year return has been weak, while the three-year and five-year numbers are more stable, so it is better aligned with a longer investment horizon than with a near-term goal.

The trade-off is straightforward: the fund has shown better resilience than the benchmark over the available periods, but it has still gone through choppy stretches and has not matched the stronger peer outcomes in the recent year. Investors who want large-cap exposure with a broad portfolio and can stay invested through uneven periods may find the pattern understandable, while those who need smoother short-term outcomes may not.

Tax and exit load

Holding period	Tax rate	Description
Units held less than 1 year	20%	Short-term capital gains tax
Units held more than 1 year	12.5%	Long-term capital gains tax

Exit load applies as follows: 0.25% on or before 30 days, 0.10% after 30 days but before 90 days, and nil after 90 days.

Source data date: as of 09 Sep 2026

Frequently asked questions

What is the current NAV of SBI Large Cap Fund Direct Growth Plan?

The current NAV is ₹101.4878 as of 09 Sep 2026.

How has SBI Large Cap Fund Direct Growth Plan performed over 1 year, 3 years and 5 years?

Its 1-year return is -0.95%, 3-year return is 8.66% and 5-year return is 9.26%.

How does the fund compare with the Nifty 50 benchmark?

The fund is ahead of the Nifty 50 across the available 1-month, 3-month, 1-year, 3-year and 5-year periods. The gap is most noticeable over one year and remains positive over the longer windows.

Which peer funds have stronger recent returns?

Quant Large Cap Fund Direct Growth Plan, Taurus Large Cap Fund Direct Growth Plan, Bank of India Large Cap Fund Direct Growth Plan, Invesco India Largecap Fund Direct Growth Plan and ITI Large Cap Fund Direct Growth Plan all show stronger 1-year returns than this fund. Their longer-term figures also vary, so the comparison is not uniform across every period.

What is the exit load for this fund?

Exit load is 0.25% on or before 30 days, 0.10% after 30 days but before 90 days, and nil after 90 days.

Who manages the fund?

The fund is managed by Saurabh Pant.

Bottom line

SBI Large Cap Fund Direct Growth Plan has been steadier over three and five years than in the recent year, but it still sits behind several peers on the latest one-year view. The risk profile is High Risk, and the portfolio is led by a fairly meaningful core of large holdings, especially in banks. Our view is that it fits investors who want large-cap equity exposure and can accept uneven short-term performance in exchange for a more established multi-year record.

Published on 10 September 2026 at 11:52 AM IST

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RIA disclosure

Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.