Which mid-cap stocks are fund managers chasing? Federal Bank leads the list, Swiggy enters top 10

Which mid-cap stocks are fund managers chasing? Federal Bank leads the list, while Swiggy enters the top 10. (AI-generated image for representational purposes only) AI Quick ReadMid-cap stocks generally sit between large- and small-cap stocks on the risk-return spectrum, offering investors the potential for higher growth than large- caps, although with more volatility.

But within the mid-cap universe, which stocks are attracting the most attention from fund managers? The preferences of fund managers appear to be shifting.

Value Research’s July 2026 data shows how actively managed funds’ mid-cap holdings have changed since April.

“Federal Bank has consolidated its top position, while MCX has fallen from second to fifth. Three new names - Coforge, Swiggy and Persistent Systems - have joined the top 10 since April,” Value Research mentioned in a post on X.

*Source: Value Research, Data as of July 2026, Includes actively managed funds only

As of 31 July 2026, Federal Bank topped the list of mid-cap stocks by the total market value held by actively managed funds. The stock was held across 199 schemes, with the total value of these holdings at ₹28,900 crore.

PB Fintech ranked second, with fund holdings worth ₹23,484 crore across 233 schemes. Notably, PB Fintech was held by more schemes than Federal Bank, despite having a lower aggregate market value.

Coforge ranked third, with ₹23,401 crore invested across 224 schemes. Its entry into the top 10 since April is one of the key changes.

IndusInd Bank ranked fourth, with ₹19,608 crore across 190 schemes. MCX, which has slipped from second to fifth since April, had fund holdings worth ₹19,587 crore across 236 schemes.

Bharat Forge ranked sixth with ₹19,458 crore across 130 schemes, followed by Swiggy at ₹18,675 crore across 170 schemes.

Looking at the number of schemes gives a slightly different picture.

As of July, MCX had the highest number of actively managed schemes holding the stock, at 236. This was followed by PB Fintech at 233 schemes and Coforge at 224 schemes.

Federal Bank, despite topping the list by total market value, ranked fifth by scheme count, with 199 schemes holding the stock.

At the other end, Bharat Forge had the lowest scheme count among the 10 stocks, at 130 schemes.

A higher number of schemes holding a stock indicates broader representation across fund portfolios, but it does not necessarily mean that fund managers have the highest overall exposure to that stock. This difference is important for investors.