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Sectoral / Thematic · HDFC Mutual Fund · AMFI code 153619HDFC Innovation Fund
Disclosed for 10 months, Jan 2026 to Oct 2026.Published as: HDFC Innovation Fund (An open-ended equity-oriented scheme following the innovation theme)
Portfolio value
₹3,159 Cr
up ₹6.8 Cr vs Sep 2026
- Stocks held
- 89
- up 10 vs Sep 2026
- Top 10 weight
- 35.8%
- of the portfolio in its ten largest
- Cash & debt
- 4.0%
- cash, money market and debt
- Moves this month
- 13 in · 3 out
- added to 10, trimmed 57
Holdings as of the end of October 2026, from HDFC Mutual Fund’s monthly portfolio disclosure. Fund houses publish each month’s portfolio within 10 days of the month end, and this page is updated after they do. How the data is checked
HDFC Innovation Fund is an active equity fund in the Sectoral / Thematic category from HDFC Mutual Fund. In October 2026 it disclosed 89 stocks worth ₹3,159 Cr, up ₹6.8 Cr from Sep 2026. Its largest positions were Eternal Limited (9.9%), Bajaj Finance Limited (3.9%), Rubicon Research Limited (3.2%); the ten largest together made up 35.8% of the portfolio, and Pharmaceuticals & Biotechnology was the biggest sector at 17.1% of its equity. Cash and debt stood at 4.0%. Compared with Sep 2026 the fund entered 13 new stocks and exited 3.
Against 244 other Sectoral / Thematic funds
Concentration
18%
Top-10 weight is higher than 18% of peers
Breadth
98%
Holds more stocks than 98% of peers
Cash
67%
Holds more cash than 67% of peers
What these mean: concentration · cash
Holdings in October 2026
Download CSVEvery line the fund disclosed, with the change against Sep 2026. Click a column to sort; click a company to see every fund that owns it. New to these? How to read a portfolio.
| Eternal Limited | 9.85% | up 0.66 pts | ₹311 Cr | up ₹21.4 Cr | Added |
| Cash, TREPS & receivables | 3.98% | down 1.47 pts | ₹126 Cr | down ₹45.9 Cr | Trimmed |
| Bajaj Finance Limited | 3.92% | down 0.09 pts | ₹124 Cr | down ₹2.7 Cr | Trimmed |
| Rubicon Research Limited | 3.19% | down 0.02 pts | ₹101 Cr | down ₹56 L | Trimmed |
| Mahindra & Mahindra Limited | 2.98% | down 0.12 pts | ₹94.1 Cr | down ₹3.6 Cr | Trimmed |
| Bharat Electronics Limited | 2.96% | down 0.15 pts | ₹93.5 Cr | down ₹4.7 Cr | Trimmed |
| Divi's Laboratories Limited | 2.93% | down 0.39 pts | ₹92.4 Cr | down ₹12.1 Cr | Trimmed |
| Hindustan Aeronautics Limited | 2.83% | up 0.10 pts | ₹89.3 Cr | up ₹3.4 Cr | Added |
| GE Vernova T&D India Limited | 2.46% | up 0.33 pts | ₹77.6 Cr | up ₹10.6 Cr | Added |
| Navin Fluorine International Limited | 2.42% | up 0.12 pts | ₹76.4 Cr | up ₹3.8 Cr | Added |
| Info Edge (India) Limited | 2.28% | down 0.06 pts | ₹71.9 Cr | down ₹1.8 Cr | Trimmed |
| PB Fintech Limited | 2.27% | down 0.15 pts | ₹71.6 Cr | down ₹4.6 Cr | Trimmed |
| Torrent Pharmaceuticals Limited | 2.16% | down 0.09 pts | ₹68.1 Cr | down ₹2.8 Cr | Trimmed |
| Sun Pharmaceutical Industries Limited | 2.00% | down 0.54 pts | ₹63.1 Cr | down ₹17 Cr | Trimmed |
| Lenskart Solutions Limited | 1.84% | down 0.67 pts | ₹58.2 Cr | down ₹21.1 Cr | Trimmed |
| Reliance Industries Limited | 1.59% | down 0.03 pts | ₹50.1 Cr | down ₹95 L | Trimmed |
| Tata Power Company Limited | 1.58% | down 0.07 pts | ₹49.9 Cr | down ₹2 Cr | Trimmed |
| Sona BLW Precision Forgings Limited | 1.56% | up 0.10 pts | ₹49.3 Cr | up ₹3.3 Cr | Added |
| Cummins India Limited | 1.53% | up 0.72 pts | ₹48.4 Cr | up ₹22.8 Cr | Added |
| Spectrum Electrical Industries Limited. | 1.45% | up 1.45 pts | ₹45.7 Cr | up ₹45.7 Cr | New |
| Netweb Technologies India Limited | 1.38% | down 0.13 pts | ₹43.6 Cr | down ₹3.9 Cr | Trimmed |
| Adani Enterprises Limited | 1.27% | down 0.16 pts | ₹40.3 Cr | down ₹5.1 Cr | Trimmed |
| SRF Limited | 1.26% | down 0.08 pts | ₹39.7 Cr | down ₹2.3 Cr | Trimmed |
| Persistent Systems Limited | 1.26% | up 0.63 pts | ₹39.7 Cr | up ₹19.9 Cr | Added |
| Karamtara Engineering Limited | 1.25% | down 0.23 pts | ₹39.6 Cr | down ₹7.1 Cr | Trimmed |
| JSW Energy Limited | 1.24% | up 0.01 pts | ₹39.1 Cr | up ₹44 L | Added |
| Ather Energy Limited | 1.23% | up 0.23 pts | ₹39 Cr | up ₹7.3 Cr | Added |
| Laurus Labs Limited | 1.19% | up 0.21 pts | ₹37.6 Cr | up ₹6.7 Cr | Added |
| Sai Life Sciences Limited | 1.15% | up 0.02 pts | ₹36.3 Cr | up ₹77 L | Added |
| ICICI Prudential Asset Management Company Limited | 1.12% | down 0.18 pts | ₹35.2 Cr | down ₹5.6 Cr | Trimmed |
| Billionbrains Garage Ventures Ltd | 1.10% | up 0.04 pts | ₹34.7 Cr | up ₹1.4 Cr | Added |
| Amagi Media Labs Limited | 1.06% | down 0.02 pts | ₹33.5 Cr | down ₹55 L | Trimmed |
| Emmvee Photovoltaic Power Limited | 1.04% | down 0.40 pts | ₹33 Cr | down ₹12.5 Cr | Trimmed |
| Samvardhana Motherson International Limited | 1.03% | down 0.05 pts | ₹32.6 Cr | down ₹1.4 Cr | Trimmed |
| Jio Platforms Limited | 0.99% | up 0.99 pts | ₹31.4 Cr | up ₹31.4 Cr | New |
| Thyrocare Technologies Limited | 0.97% | down 0.17 pts | ₹30.7 Cr | down ₹5.2 Cr | Trimmed |
| Biocon Limited | 0.97% | down 0.05 pts | ₹30.5 Cr | down ₹1.6 Cr | Trimmed |
| Coforge Limited | 0.90% | up 0.13 pts | ₹28.4 Cr | up ₹4.1 Cr | Added |
| Lupin Limited | 0.90% | down 0.01 pts | ₹28.3 Cr | down ₹27 L | Trimmed |
| Godrej Consumer Products Limited | 0.86% | down 0.04 pts | ₹27.2 Cr | down ₹1.1 Cr | Trimmed |
| OnEMI Technology Solutions Limited | 0.83% | up 0.83 pts | ₹26.2 Cr | up ₹26.2 Cr | New |
| Sudeep Pharma Limited | 0.83% | up 0.37 pts | ₹26.1 Cr | up ₹11.7 Cr | Added |
| Sedemac Mechatronics Limited | 0.83% | down 0.10 pts | ₹26.1 Cr | down ₹3.1 Cr | Trimmed |
| ABB India Limited | 0.81% | down 0.05 pts | ₹25.5 Cr | down ₹1.4 Cr | Trimmed |
| Bharat Forge Limited | 0.76% | down 0.09 pts | ₹23.9 Cr | down ₹2.9 Cr | Trimmed |
| Acutaas Chemicals Limited | 0.68% | up 0.68 pts | ₹21.6 Cr | up ₹21.6 Cr | New |
| Zetwerk Manufacturing Businesses Limited | 0.67% | up 0.67 pts | ₹21.3 Cr | up ₹21.3 Cr | New |
| Hindustan Unilever Limited | 0.64% | down 0.01 pts | ₹20.1 Cr | down ₹16 L | Trimmed |
| Zydus Lifesciences Limited | 0.63% | up 0.04 pts | ₹19.9 Cr | up ₹1.3 Cr | Added |
| 3M India Limited | 0.61% | down 0.07 pts | ₹19.4 Cr | down ₹2.1 Cr | Trimmed |
What changed, Sep 2026 to Oct 2026
New New positions (13)
- Spectrum Electrical Industries Limited.1.4% · ₹45.7 Cr
- Jio Platforms Limited1.0% · ₹31.4 Cr
- OnEMI Technology Solutions Limited0.8% · ₹26.2 Cr
- Acutaas Chemicals Limited0.7% · ₹21.6 Cr
- Zetwerk Manufacturing Businesses Limited0.7% · ₹21.3 Cr
- Hitachi Energy India Limited0.5% · ₹16.6 Cr
- ICICI Lombard General Insurance Company Limited0.5% · ₹15.8 Cr
- Schneider Electric Infrastructure Limited0.4% · ₹12.4 Cr
- HD Fire Protect Ltd.0.3% · ₹8.6 Cr
- Tonbo Imaging India Limited0.2% · ₹7.4 Cr
- Bonfiglioli Transmissions Limited0.2% · ₹5.7 Cr
- Dr. Reddy's Laboratories Limited0.1% · ₹4.5 Cr
Exited Exited (3)
- Spectrum Electrical Industries Limited.was 1.4% · ₹43.2 Cr
- Wework India Management Limitedwas 0.3% · ₹9.8 Cr
- One 97 Communications Limitedwas 0.1% · ₹4.5 Cr
Added Biggest additions
- Cummins India Limitedup ₹22.8 Cr (+0.72% pts)
- Eternal Limitedup ₹21.4 Cr (+0.66% pts)
- Persistent Systems Limitedup ₹19.9 Cr (+0.63% pts)
- Sudeep Pharma Limitedup ₹11.7 Cr (+0.37% pts)
- GE Vernova T&D India Limitedup ₹10.6 Cr (+0.33% pts)
- Ather Energy Limitedup ₹7.3 Cr (+0.23% pts)
- Laurus Labs Limitedup ₹6.7 Cr (+0.21% pts)
- Coforge Limitedup ₹4.1 Cr (+0.13% pts)
- Navin Fluorine International Limitedup ₹3.8 Cr (+0.12% pts)
- Hindustan Aeronautics Limitedup ₹3.4 Cr (+0.10% pts)
Trimmed Biggest reductions
- INDO-MIM Ltd.down ₹25.2 Cr (−0.80% pts)
- Lenskart Solutions Limiteddown ₹21.1 Cr (−0.67% pts)
- Onemi Technology Solutions Limiteddown ₹20.1 Cr (−0.64% pts)
- Sun Pharmaceutical Industries Limiteddown ₹17 Cr (−0.54% pts)
- Emmvee Photovoltaic Power Limiteddown ₹12.5 Cr (−0.40% pts)
- Divi's Laboratories Limiteddown ₹12.1 Cr (−0.39% pts)
- Aequs Limiteddown ₹10 Cr (−0.32% pts)
- Dhoot Transmission Ltddown ₹7.9 Cr (−0.25% pts)
- Diamond Power Infrastructure Limiteddown ₹7.3 Cr (−0.23% pts)
- Karamtara Engineering Limiteddown ₹7.1 Cr (−0.23% 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 Sep 2026, the weight rose most in Telecom - Services (+1.0 pts) and IT - Software (+0.9 pts), and fell most in Financial Technology (fintech) (−0.5 pts) and Auto Components (−0.5 pts).
- Telecom - Services0.0% → 1.0%new+1.0 pts
- IT - Software3.4% → 4.3%+0.9 pts
- Industrial Products2.0% → 2.6%+0.6 pts
- Insurance0.6% → 1.1%+0.5 pts
- Chemicals & Petrochemicals4.3% → 4.7%+0.4 pts
- Industrial Manufacturing3.2% → 3.6%+0.3 pts
- Financial Technology (fintech)3.4% → 2.8%−0.5 pts
- Auto Components4.8% → 4.4%−0.5 pts
- Retailing15.7% → 15.3%−0.4 pts
- Aerospace & Defense7.6% → 7.2%−0.4 pts
- Commercial Services & Supplies0.7% → 0.3%−0.3 pts
- Pharmaceuticals & Biotechnology17.5% → 17.1%−0.3 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 | Apr 2026 | Jul 2026 | Sep 2026 | Oct 2026 |
|---|---|---|---|---|
| Pharmaceuticals & Biotechnology | 20.0% | 19.6% | 17.5% | 17.1% |
| Retailing | 15.1% | 16.3% | 15.7% | 15.3% |
| Electrical Equipment | 7.4% | 7.7% | 8.9% | 8.8% |
| Aerospace & Defense | 8.0% | 7.9% | 7.6% | 7.2% |
| Finance | 5.4% | 6.0% | 5.1% | 5.1% |
| Automobiles | 4.4% | 4.8% | 4.7% | 4.7% |
| Chemicals & Petrochemicals | 4.4% | 4.3% | 4.3% | 4.7% |
| Auto Components | 4.2% | 3.7% | 4.8% | 4.4% |
| IT - Software | 5.1% | 4.5% | 3.4% | 4.3% |
| Industrial Manufacturing | 0.6% | 1.3% | 3.2% | 3.6% |
Allocation in Oct 2026change vs Sep 2026
- Pharmaceuticals & Biotechnology (12)17.1%▼ 0.3 pts
- Retailing (5)15.3%▼ 0.4 pts
- Electrical Equipment (10)8.8%
- Aerospace & Defense (5)7.2%▼ 0.4 pts
- Finance (3)5.1%
- Automobiles (3)4.7%
- Chemicals & Petrochemicals (3)4.7%▲ 0.4 pts
- Auto Components (5)4.4%▼ 0.5 pts
- IT - Software (6)4.3%▲ 0.9 pts
- Industrial Manufacturing (7)3.6%▲ 0.3 pts
- Power (3)3.4%▼ 0.1 pts
- Financial Technology (fintech) (2)2.8%▼ 0.5 pts
- Industrial Products (3)2.6%▲ 0.6 pts
- IT - Services (2)2.5%▼ 0.2 pts
- Capital Markets (3)2.5%▼ 0.2 pts
- Petroleum Products (1)1.7%▼ 0.1 pts
- Metals & Minerals Trading (1)1.3%▼ 0.2 pts
- Insurance (3)1.1%▲ 0.5 pts
- Telecom - Services (1)1.0%▲ 1.0 pts
- Healthcare Services (1)1.0%▼ 0.2 pts
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, Oct 2026
4.0%
▼ 1.5 pts vs Sep 2026
- Cash alone
- 4.0%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 1.3% – 5.4%
- lowest to highest · record 5.4% in Sep 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.
All 10 months
| Month | Portfolio value | Stocks | Entered | Exited | Cash | Cash & debt | Turnover |
|---|---|---|---|---|---|---|---|
| Oct 2026 | ₹3,159 Cr | 89 | 13 | 3 | 4.0% | 4.0% | 35% |
| Sep 2026 | ₹3,152 Cr | 79 | 4 | 1 | 5.5% | 5.4% | 36% |
| Aug 2026 | ₹3,189 Cr | 76 | 7 | 0 | 1.9% | 1.9% | 33% |
| Jul 2026 | ₹2,970 Cr | 69 | 7 | 0 | 3.2% | 3.2% | — |
| Jun 2026 | ₹2,760 Cr | 62 | 1 | 0 | 1.4% | 1.4% | — |
| May 2026 | ₹2,679 Cr | 61 | 3 | 2 | 3.4% | 3.4% | — |
| Apr 2026 | ₹2,621 Cr | 60 | 1 | 0 | 3.4% | 3.4% | — |
| Mar 2026 | ₹2,356 Cr | 59 | 2 | 0 | 3.3% | 3.3% | — |
| Feb 2026 | ₹2,566 Cr | 57 | 0 | 4 | 4.7% | 4.6% | — |
| Jan 2026 | ₹2,598 Cr | 61 | 1.2% | 1.3% | — |