HDFC Innovation Fund

HDFC Mutual FundThematicPortfolio as of 31 July 2026

HDFC Innovation Fund holds 71 instruments (96.78% equity), led by ETERNAL LIMITED (9.53%), Bajaj Finance Limited (5.07%) and Mahindra & Mahindra Limited (3.79%), as of its 31 July 2026 SEBI-mandated monthly disclosure.

Holdings

Equity Allocation

96.78%

AMC

HDFC Mutual Fund

Portfolio Analysis

HDFC Innovation Fund's top 10 holdings account for 39.81% of its portfolio, more diversified than the Thematic category average of 50.4%. Consumer Discretionary is its largest sector exposure at 26.23% of net assets, spread across 11 sectors in total. Since its 30 June 2026 disclosure, the fund added 7 new positions and exited 0 positions, with Reliance Industries Limited seeing the largest move (-1.74pp to 2.38%).

Top 10 Equity Holdings

ETERNAL LIMITED · 9.53%Bajaj Finance Limited · 5.07%Mahindra & Mahindra Limited · 3.79%Divi's Laboratories Limited · 3.73%Bharat Electronics Limited · 3.3%PB Fintech Limited · 3.05%Sun Pharmaceutical Industries Limited · 2.96%Lenskart Solutions Limited · 2.95%Hindustan Aeronautics Limited · 2.88%Torrent Pharmaceuticals Limited · 2.55%

What Changed: June 2026 → July 2026

Equity holdings compared between the fund's two latest monthly disclosures. Weights are % to NAV; weight moves can also reflect price changes, not only buying or selling.

7 new entries8 increased10 reduced

New Entries

Adani Enterprises Limited · 1.58%Ideaforge Technology Limited · 0.88%INDO-MIM LTD · 0.78%Diamond Power Infrastructure Limited · 0.76%SBI Life Insurance Company Limited · 0.63%Ather Energy Limited · 0.48%SBI FUNDS MANAGEMENT LTD · 0.2%

Biggest Weight Increases

Stock	Weight	Change
ETERNAL LIMITED	8.97% → 9.53%	▲ +0.56
Biocon Limited	0.76% → 1.24%	▲ +0.48
Info Edge (India) Limited	2.14% → 2.49%	▲ +0.35
Zydus Lifesciences Limited	0.28% → 0.61%	▲ +0.33
Bajaj Finance Limited	4.8% → 5.07%	▲ +0.27
Billionbrains Garage Ventures Limited	1.08% → 1.19%	▲ +0.11
Mahindra & Mahindra Limited	3.68% → 3.79%	▲ +0.11
Amagi Media Labs Limited	1.26% → 1.36%	▲ +0.1

Biggest Weight Reductions

Stock	Weight	Change
Reliance Industries Limited	4.12% → 2.38%	▼ -1.74
PB Fintech Limited	3.93% → 3.05%	▼ -0.88
Bharat Forge Limited	1.86% → 1.03%	▼ -0.83
Cummins India Limited	1.78% → 1%	▼ -0.78
GE Vernova T&D India Limited	2.86% → 2.32%	▼ -0.54
Samvardhana Motherson International Limited	1.6% → 1.06%	▼ -0.54
Bharat Electronics Limited	3.77% → 3.3%	▼ -0.47
Laurus Labs Limited	1.63% → 1.21%	▼ -0.42
Persistent Systems Limited	1.01% → 0.7%	▼ -0.31
Lenskart Solutions Limited	3.24% → 2.95%	▼ -0.29

Top Holdings — Weight Trend

% to NAV of the fund's current top holdings over its last 6 monthly disclosures (Feb – Jul 2026).

ETERNAL LIMITED

9.53%

Bajaj Finance Limited

5.07%

Mahindra & Mahindra Limited

3.79%

Divi's Laboratories Limited

3.73%

Bharat Electronics Limited

3.3%

Full Portfolio (71 holdings)

#	Holding	Sector	% to NAV
1	ETERNAL LIMITED	Consumer Discretionary	9.53%
2	Bajaj Finance Limited	Financial Services	5.07%
3	Mahindra & Mahindra Limited	Consumer Discretionary	3.79%
4	Divi's Laboratories Limited	Healthcare	3.73%
5	TREPS - Tri-party Repotreps	—	3.36%
6	Bharat Electronics Limited	Industrials	3.3%
7	PB Fintech Limited	Financial Services	3.05%
8	Sun Pharmaceutical Industries Limited	Healthcare	2.96%
9	Lenskart Solutions Limited	Consumer Discretionary	2.95%
10	Hindustan Aeronautics Limited	Industrials	2.88%
11	Torrent Pharmaceuticals Limited	Healthcare	2.55%
12	Info Edge (India) Limited	Consumer Discretionary	2.49%
13	Rubicon Research Limited	Healthcare	2.47%
14	Reliance Industries Limited	Energy	2.38%
15	GE Vernova T&D India Limited	Industrials	2.32%
16	Navin Fluorine International Limited	Materials	2.24%
17	Tata Power Company Limited	Utilities	1.85%
18	Adani Enterprises Limited	Materials	1.58%
19	Emmvee Photovoltaic Power Limited	Industrials	1.54%
20	SRF Limited	Materials	1.53%
21	JSW Energy Limited	Utilities	1.46%
22	Sona BLW Precision Forgings Limited	Consumer Discretionary	1.43%
23	Sai Life Sciences Limited	Healthcare	1.39%
24	Coforge Limited	Information Technology	1.38%
25	Thyrocare Technologies Limited	Healthcare	1.38%
26	Amagi Media Labs Limited	Information Technology	1.36%
27	Biocon Limited	Healthcare	1.24%
28	Laurus Labs Limited	Healthcare	1.21%
29	Godrej Consumer Products Limited	Consumer Staples	1.2%
30	Billionbrains Garage Ventures Limited	Financial Services	1.19%
31	Anthem Biosciences Limited	Healthcare	1.16%
32	Lupin Limited	Healthcare	1.15%
33	Samvardhana Motherson International Limited	Consumer Discretionary	1.06%
34	Bharat Forge Limited	Consumer Discretionary	1.03%
35	Cummins India Limited	Industrials	1%
36	ABB India Limited	Industrials	0.97%
37	Ideaforge Technology Limited	Industrials	0.88%
38	SEDEMAC Mechatronics Limited	Consumer Discretionary	0.81%
39	Saatvik Green Energy Limited	Industrials	0.8%
40	3M India Limited	Diversified	0.78%
41	INDO-MIM LTD	Industrials	0.78%
42	OnEMI Technology Solutions Limited	Financial Services	0.78%
43	Diamond Power Infrastructure Limited	Industrials	0.76%
44	Hindustan Unilever Limited	Consumer Staples	0.76%
45	Le Travenues Technology Limited	Consumer Discretionary	0.74%
46	Siemens Limited	Industrials	0.73%
47	Persistent Systems Limited	Information Technology	0.7%
48	InterGlobe Aviation Limited	Services	0.69%
49	SBI Life Insurance Company Limited	Financial Services	0.63%
50	Zydus Lifesciences Limited	Healthcare	0.61%
51	Hexaware Technologies Limited	Information Technology	0.59%
52	MphasiS Limited	Information Technology	0.59%
53	Torrent Power Limited	Utilities	0.57%
54	Aequs Limited	Industrials	0.55%
55	Infosys Limited	Information Technology	0.55%
56	Neuland Laboratories Limited	Healthcare	0.53%
57	Sonata Software Limited	Information Technology	0.53%
58	ICICI Prudential Asset Management Company Limited	Financial Services	0.51%
59	Ather Energy Limited	Consumer Discretionary	0.48%
60	Urban Company Limited	Consumer Discretionary	0.47%
61	Kaynes Technology India Limited	Industrials	0.46%
62	TBO Tek Limited	Consumer Discretionary	0.43%
63	Hyundai Motor India Limited	Consumer Discretionary	0.37%
64	WeWork India Management Limited	Industrials	0.37%
65	Brainbees Solutions Limited	Consumer Discretionary	0.36%
66	Sudeep Pharma Limited	Materials	0.35%
67	Atlanta Electricals Limited	Industrials	0.3%
68	Tenneco Clean Air India Limited	Consumer Discretionary	0.29%
69	SBI FUNDS MANAGEMENT LTD	Financial Services	0.2%
70	Kwality Wall's (India) Limited	Consumer Staples	0.01%
71	Net Current Assetsother	—	-0.14%

Frequently Asked Questions

Yes. As of its 31 July 2026 disclosure, ETERNAL LIMITED is 9.53% of HDFC Innovation Fund's net assets — its number 1 holding.

Yes. As of its 31 July 2026 disclosure, Bajaj Finance Limited is 5.07% of HDFC Innovation Fund's net assets — its number 2 holding.

Yes. As of its 31 July 2026 disclosure, Mahindra & Mahindra Limited is 3.79% of HDFC Innovation Fund's net assets — its number 3 holding.

Yes. As of its 31 July 2026 disclosure, Divi's Laboratories Limited is 3.73% of HDFC Innovation Fund's net assets — its number 4 holding.

Yes. As of its 31 July 2026 disclosure, Bharat Electronics Limited is 3.3% of HDFC Innovation Fund's net assets — its number 5 holding.

New to reading these? See How to Read a Mutual Fund's Monthly Portfolio Disclosure, or check terms like % to NAV in the glossary.

Source: HDFC Mutual Fund's SEBI-mandated monthly portfolio disclosure, dated 31 July 2026. Data is for information only, not investment advice. Holdings may have changed since the disclosure date.