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Value / Contra · Bandhan Mutual Fund · AMFI code 108908Bandhan Value Fund
Disclosed for 3 months, Jul 2026 to Sep 2026.
Portfolio value
₹9,507 Cr
down ₹473 Cr vs Aug 2026
- Stocks held
- 62
- up 1 vs Aug 2026
- Top 10 weight
- 43.2%
- of the portfolio in its ten largest
- Cash & debt
- 6.3%
- cash, money market and debt
- Moves this month
- 3 in · 2 out
- added to 10, trimmed 43
Bandhan Value Fund is an active equity fund in the Value / Contra category from Bandhan Mutual Fund. In September 2026 it disclosed 62 stocks worth ₹9,507 Cr, down ₹473 Cr from Aug 2026. Its largest positions were HDFC Bank Limited (8.3%), Kotak Mahindra Bank Limited (6.6%), Reliance Industries Limited (6.2%); the ten largest together made up 43.2% of the portfolio, and Banks was the biggest sector at 25.8% of its equity. Cash and debt stood at 6.3%. Compared with Aug 2026 the fund entered 3 new stocks and exited 2.
Against 26 other Value / Contra funds
Concentration
81%
Top-10 weight is higher than 81% of peers
Breadth
50%
Holds more stocks than 50% of peers
Cash
73%
Holds more cash than 73% of peers
What these mean: concentration · cash
Holdings in September 2026
Download CSVEvery line the fund disclosed, with the change against Aug 2026. Click a column to sort; click a company to see every fund that owns it. New to these? How to read a portfolio.
| HDFC Bank Limited | 8.27% | up 0.46 pts | ₹787 Cr | up ₹6.8 Cr | Added |
| Kotak Mahindra Bank Limited | 6.58% | up 0.28 pts | ₹626 Cr | down ₹3.6 Cr | Trimmed |
| Reliance Industries Limited | 6.24% | down 0.15 pts | ₹594 Cr | down ₹45 Cr | Trimmed |
| Cash, TREPS & receivables | 5.82% | down 0.28 pts | ₹553 Cr | down ₹55.1 Cr | Trimmed |
| ICICI Bank Limited | 4.17% | down 0.20 pts | ₹397 Cr | down ₹39.7 Cr | Trimmed |
| Tata Consultancy Services Limited | 3.67% | down 0.42 pts | ₹349 Cr | down ₹59.3 Cr | Trimmed |
| Axis Bank Limited | 3.48% | down 0.04 pts | ₹331 Cr | down ₹20 Cr | Trimmed |
| Infosys Limited | 3.24% | down 0.28 pts | ₹308 Cr | down ₹43.3 Cr | Trimmed |
| ITC Limited | 2.63% | up 0.45 pts | ₹250 Cr | up ₹32.4 Cr | Added |
| HDFC Life Insurance Company Limited | 2.47% | up 0.41 pts | ₹235 Cr | up ₹29.4 Cr | Added |
| Maruti Suzuki India Limited | 2.45% | down <0.01 pts | ₹233 Cr | down ₹11.8 Cr | Trimmed |
| Bharti Airtel Limited | 2.31% | up 0.13 pts | ₹220 Cr | up ₹2.2 Cr | Added |
| Larsen & Toubro Limited | 2.18% | down 0.05 pts | ₹207 Cr | down ₹15.7 Cr | Trimmed |
| Oil & Natural Gas Corporation Limited | 2.14% | up 0.05 pts | ₹203 Cr | down ₹5.4 Cr | Trimmed |
| ICICI Lombard General Insurance Company Limited | 2.13% | up 0.25 pts | ₹203 Cr | up ₹14.7 Cr | Added |
| Dr. Reddy's Laboratories Limited | 2.08% | up 0.22 pts | ₹197 Cr | up ₹12.6 Cr | Added |
| Jindal Steel & Power Limited | 1.91% | down <0.01 pts | ₹182 Cr | down ₹9.3 Cr | Trimmed |
| Mahindra & Mahindra Financial Services Limited | 1.88% | down 0.18 pts | ₹179 Cr | down ₹26.5 Cr | Trimmed |
| Poonawalla Fincorp Limited | 1.68% | up 0.01 pts | ₹160 Cr | down ₹7.2 Cr | Trimmed |
| IDFC First Bank Limited | 1.63% | down 0.27 pts | ₹155 Cr | down ₹34.4 Cr | Trimmed |
| Aurobindo Pharma Limited | 1.58% | down 0.14 pts | ₹150 Cr | down ₹21.2 Cr | Trimmed |
| Hindustan Unilever Limited | 1.48% | up <0.01 pts | ₹141 Cr | down ₹6.6 Cr | Trimmed |
| Sterlite Technologies Limited | 1.39% | down 0.22 pts | ₹132 Cr | down ₹28.3 Cr | Trimmed |
| V-Mart Retail Limited | 1.39% | down 0.30 pts | ₹132 Cr | down ₹36.7 Cr | Trimmed |
| Avenue Supermarts Limited | 1.30% | up 0.13 pts | ₹124 Cr | up ₹6.5 Cr | Added |
| Bajaj Finserv Limited | 1.27% | down 0.14 pts | ₹121 Cr | down ₹20.3 Cr | Trimmed |
| Cipla Limited | 1.27% | up <0.01 pts | ₹121 Cr | down ₹5.7 Cr | Trimmed |
| Hero MotoCorp Limited | 1.24% | up 0.01 pts | ₹118 Cr | down ₹4.7 Cr | Trimmed |
| United Spirits Limited | 1.14% | down 0.19 pts | ₹108 Cr | down ₹24.1 Cr | Trimmed |
| Adani Wilmar Limited | 1.12% | up 0.02 pts | ₹107 Cr | down ₹3.1 Cr | Trimmed |
| NTPC Limited | 1.02% | up 0.03 pts | ₹96.8 Cr | down ₹1.4 Cr | Trimmed |
| Emami Limited | 1.00% | up 0.08 pts | ₹94.8 Cr | up ₹3.8 Cr | Added |
| Crompton Greaves Consumer Electricals Limited | 0.90% | down 0.05 pts | ₹85.6 Cr | down ₹8.8 Cr | Trimmed |
| Info Edge (India) Limited | 0.90% | down 0.02 pts | ₹85.4 Cr | down ₹6.5 Cr | Trimmed |
| The Ramco Cements Limited | 0.89% | up 0.01 pts | ₹84.6 Cr | down ₹3.4 Cr | Trimmed |
| ICICI Prudential Life Insurance Company Limited | 0.89% | up 0.89 pts | ₹84.3 Cr | up ₹84.3 Cr | New |
| United Breweries Limited | 0.80% | down 0.06 pts | ₹76.4 Cr | down ₹9.9 Cr | Trimmed |
| Mas Financial Services Limited | 0.74% | down 0.02 pts | ₹70.7 Cr | down ₹5.5 Cr | Trimmed |
| Engineers India Limited | 0.72% | up 0.01 pts | ₹68.1 Cr | down ₹2.6 Cr | Trimmed |
| SBI Life Insurance Company Limited | 0.71% | up 0.71 pts | ₹67.9 Cr | up ₹67.9 Cr | New |
| Petronet LNG Limited | 0.69% | down <0.01 pts | ₹65.4 Cr | down ₹3.7 Cr | Trimmed |
| Dalmia Bharat Limited | 0.66% | down 0.03 pts | ₹63.1 Cr | down ₹6.5 Cr | Trimmed |
| Bayer Cropscience Limited | 0.66% | down 0.02 pts | ₹62.4 Cr | down ₹5.1 Cr | Trimmed |
| VRL Logistics Limited | 0.65% | down 0.01 pts | ₹61.8 Cr | down ₹3.6 Cr | Trimmed |
| Finolex Industries Limited | 0.62% | up 0.04 pts | ₹59.1 Cr | up ₹72 L | Added |
| Sobha Limited | 0.60% | up 0.01 pts | ₹56.8 Cr | down ₹1.6 Cr | Trimmed |
| Jubilant Foodworks Limited | 0.58% | down 0.02 pts | ₹54.8 Cr | down ₹4.7 Cr | Trimmed |
| RHI Magnesita India Limited | 0.58% | up 0.58 pts | ₹54.8 Cr | up ₹54.8 Cr | New |
| Dabur India Limited | 0.56% | up 0.03 pts | ₹53.2 Cr | down ₹13 L | Held |
| GAIL (India) Limited | 0.54% | up <0.01 pts | ₹51.2 Cr | down ₹2.1 Cr | Trimmed |
What changed, Aug 2026 to Sep 2026
New New positions (3)
- ICICI Prudential Life Insurance Company Limited0.9% · ₹84.3 Cr
- SBI Life Insurance Company Limited0.7% · ₹67.9 Cr
- RHI Magnesita India Limited0.6% · ₹54.8 Cr
Exited Exited (2)
- Life Insurance Corporation Of Indiawas 1.2% · ₹121 Cr
- Bosch Limitedwas 0.6% · ₹60 Cr
Added Biggest additions
- ITC Limitedup ₹32.4 Cr (+0.45% pts)
Sectors
Which sectors the fund is moving towards and away from, and where its money sits now. Shares are of the fund’s classified equity holdings, so they add up to 100%.
Where the weight moved
Compared with
Since Aug 2026, the weight rose most in Insurance (+1.1 pts) and Industrial Products (+0.7 pts), and fell most in Auto Components (−0.9 pts) and IT - Software (−0.8 pts).
- Insurance5.5% → 6.6%+1.1 pts
- Industrial Products1.8% → 2.5%+0.7 pts
- Diversified FMCG3.9% → 4.4%+0.5 pts
- Banks25.6% → 25.8%+0.2 pts
- Consumer Durables1.7% → 1.8%+0.2 pts
- Fertilizers & Agrochemicals0.9% → 1.0%+0.1 pts
- Auto Components1.2% → 0.3%−0.9 pts
- IT - Software8.1% → 7.4%−0.8 pts
- Finance6.8% → 6.4%−0.4 pts
- Beverages2.3% → 2.1%−0.3 pts
- Telecom - Equipment & Accessories1.7% → 1.5%−0.2 pts
- Retailing4.0% → 3.8%−0.2 pts
A sector’s weight changes when the fund buys or sells, and also when its shares rise or fall in price, so a change is not by itself a sign of buying or selling.
Main sectors’ weights over time
| Sector | Aug 2026 | Sep 2026 |
|---|---|---|
| Banks | 25.6% | 25.8% |
| IT - Software | 8.1% | 7.4% |
| Petroleum Products | 6.8% | 6.7% |
| Insurance | 5.5% | 6.6% |
| Finance | 6.8% | 6.4% |
| Pharmaceuticals & Biotechnology | 5.2% | 5.3% |
| Diversified FMCG | 3.9% | 4.4% |
| Automobiles | 3.9% | 3.9% |
| Retailing | 4.0% | 3.8% |
| Construction | 3.6% | 3.6% |
Allocation in Sep 2026change vs Aug 2026
- Banks (5)25.8%▲ 0.2 pts
- IT - Software (2)7.4%▼ 0.8 pts
- Petroleum Products (1)
Cash and debt
The share of the portfolio not in shares: cash and net receivables, money-market instruments and bonds, as disclosed each month. Cash can dip below zero when payables, often on derivative positions, exceed it. A change here describes what the fund did; it is not a signal. More on reading cash.
Cash & debt, Sep 2026
6.3%
▼ 0.3 pts vs Aug 2026
- Cash alone
- 5.8%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 5.8% – 6.6%
- lowest to highest · record 6.6% in Aug 2026
History
Disclosed portfolio value by month, with the stocks the fund entered and exited against its previous disclosure. Every month is a link to that portfolio.