HDFC Value Fund

HDFC Mutual FundEquityPortfolio as of 31 July 2026

HDFC Value Fund holds 76 instruments (99.57% equity), led by ICICI Bank Limited (6.78%), HDFC Bank Limited (4.88%) and State Bank of India (3.43%), as of its 31 July 2026 SEBI-mandated monthly disclosure.

Holdings

Equity Allocation

99.57%

AMC

HDFC Mutual Fund

Portfolio Analysis

HDFC Value Fund's top 10 holdings account for 33.35% of its portfolio, more diversified than the Equity category average of 37.5%. Financial Services is its largest sector exposure at 34.38% of net assets, spread across 12 sectors in total. Since its 30 June 2026 disclosure, the fund added 3 new positions and exited 1 position, with Axis Bank Limited seeing the largest move (-1.05pp to 3.25%).

Top 10 Equity Holdings

ICICI Bank Limited · 6.78%HDFC Bank Limited · 4.88%State Bank of India · 3.43%Axis Bank Limited · 3.25%Bharti Airtel Limited · 3.23%Larsen & Toubro Limited · 2.61%Infosys Limited · 2.42%AU Small Finance Bank Limited · 2.3%Sun Pharmaceutical Industries Limited · 2.26%NTPC Limited · 2.19%

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.

3 new entries1 exit10 increased10 reduced

New Entries

360 ONE WAM LIMITED · 0.93%HDFC Life Insurance Company Limited · 0.83%Diamond Power Infrastructure Limited · 0.44%

Complete Exits

Canara HSBC Life Insurance Company Limited · was 0.29%

Biggest Weight Increases

Stock	Weight	Change
Mahindra & Mahindra Financial Services Limited	0.47% → 0.89%	▲ +0.42
HCL Technologies Limited	1.27% → 1.53%	▲ +0.26
Divi's Laboratories Limited	1.21% → 1.42%	▲ +0.21
Tech Mahindra Limited	1.57% → 1.77%	▲ +0.2
Sona BLW Precision Forgings Limited	1.06% → 1.26%	▲ +0.2
Infosys Limited	2.24% → 2.42%	▲ +0.18
Chalet Hotels Limited	0.54% → 0.72%	▲ +0.18
Maruti Suzuki India Limited	1.34% → 1.51%	▲ +0.17
ETERNAL LIMITED	1.54% → 1.68%	▲ +0.14
Info Edge (India) Limited	0.74% → 0.88%	▲ +0.14

Biggest Weight Reductions

Stock	Weight	Change
Axis Bank Limited	4.3% → 3.25%	▼ -1.05
HDFC Bank Limited	5.44% → 4.88%	▼ -0.56
Multi Commodity Exchange of India Limited	1.12% → 0.85%	▼ -0.27
Larsen & Toubro Limited	2.87% → 2.61%	▼ -0.26
Bharat Electronics Limited	2.17% → 1.96%	▼ -0.21
Sterlite Technologies Limited	1.37% → 1.19%	▼ -0.18
Apar Industries Limited	1.37% → 1.19%	▼ -0.18
Tata Communications Limited	1.19% → 1.01%	▼ -0.18
The Phoenix Mills Limited	1.72% → 1.55%	▼ -0.17
NTPC Limited	2.35% → 2.19%	▼ -0.16

Top Holdings — Weight Trend

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

6.78%

4.88%

3.43%

3.25%

Bharti Airtel Limited

3.23%

Full Portfolio (76 holdings)

#	Holding	Sector	% to NAV
1	ICICI Bank Limited	Financial Services	6.78%
2	HDFC Bank Limited	Financial Services	4.88%
3	State Bank of India	Financial Services	3.43%
4	Axis Bank Limited	Financial Services	3.25%
5	Bharti Airtel Limited	Telecommunication	3.23%
6	Larsen & Toubro Limited	Industrials	2.61%
7	Infosys Limited	Information Technology	2.42%
8	AU Small Finance Bank Limited	Financial Services	2.3%
9	Sun Pharmaceutical Industries Limited	Healthcare	2.26%
10	NTPC Limited	Utilities	2.19%
11	Reliance Industries Limited	Energy	2.06%
12	SBI Life Insurance Company Limited	Financial Services	2.02%
13	Bharat Electronics Limited	Industrials	1.96%
14	Tech Mahindra Limited	Information Technology	1.77%
15	ETERNAL LIMITED	Consumer Discretionary	1.68%
16	Prestige Estates Projects Limited	Real Estate	1.62%
17	The Phoenix Mills Limited	Real Estate	1.55%
18	Global Health Limited	Healthcare	1.53%
19	HCL Technologies Limited	Information Technology	1.53%
20	Maruti Suzuki India Limited	Consumer Discretionary	1.51%
21	Bosch Limited	Consumer Discretionary	1.5%
22	United Spirits Limited	Consumer Staples	1.5%
23	Five-Star Business Finance Limited	Financial Services	1.48%
24	Lupin Limited	Healthcare	1.44%
25	Tata Capital Limited	Financial Services	1.44%
26	Acme Solar Holdings Limited	Utilities	1.43%
27	Divi's Laboratories Limited	Healthcare	1.42%
28	Eicher Motors Limited	Consumer Discretionary	1.38%
29	Britannia Industries Limited	Consumer Staples	1.3%
30	PNB Housing Finance Limited	Financial Services	1.27%
31	Sona BLW Precision Forgings Limited	Consumer Discretionary	1.26%
32	Godrej Consumer Products Limited	Consumer Staples	1.24%
33	Bajaj Auto Limited	Consumer Discretionary	1.23%
34	Apar Industries Limited	Industrials	1.19%
35	Sterlite Technologies Limited	Telecommunication	1.19%
36	TREPS - Tri-party Repotreps	—	1.17%
37	Karur Vysya Bank Limited	Financial Services	1.12%
38	Trent Limited	Consumer Discretionary	1.08%
39	Max Financial Services Limited	Financial Services	1.06%
40	UltraTech Cement Limited	Materials	1.06%
41	Max Healthcare Institute Limited	Healthcare	1.02%
42	Tata Communications Limited	Telecommunication	1.01%
43	WeWork India Management Limited	Industrials	0.96%
44	Equitas Small Finance Bank Limited	Financial Services	0.95%
45	360 ONE WAM LIMITED	Financial Services	0.93%
46	Ambuja Cements Limited	Materials	0.93%
47	Hindustan Unilever Limited	Consumer Staples	0.91%
48	InterGlobe Aviation Limited	Services	0.91%
49	Aavas Financiers Limited	Financial Services	0.9%
50	Tube Investments of India Limited	Consumer Discretionary	0.9%
51	Mahindra & Mahindra Financial Services Limited	Financial Services	0.89%
52	Info Edge (India) Limited	Consumer Discretionary	0.88%
53	Jubilant Ingrevia Limited	Materials	0.86%
54	Hyundai Motor India Limited	Consumer Discretionary	0.85%
55	Multi Commodity Exchange of India Limited	Financial Services	0.85%
56	HDFC Life Insurance Company Limited	Financial Services	0.83%
57	Bharat Petroleum Corporation Limited	Energy	0.81%
58	Balkrishna Industries Limited	Consumer Discretionary	0.77%
59	JINDAL STEEL LIMITED	Materials	0.73%
60	Chalet Hotels Limited	Consumer Discretionary	0.72%
61	Hindustan Petroleum Corporation Limited	Energy	0.72%
62	CESC Limited	Utilities	0.65%
63	MphasiS Limited	Information Technology	0.59%
64	Zensar Technologies Limited	Information Technology	0.58%
65	Alkem Laboratories Limited	Healthcare	0.57%
66	Electronics Mart India Limited	Consumer Discretionary	0.57%
67	Techno Electric & Engineering Company Limited	Industrials	0.49%
68	Technocraft Industries (India) Limited	Industrials	0.49%
69	Uniparts India Limited	Consumer Discretionary	0.48%
70	Diamond Power Infrastructure Limited	Industrials	0.44%
71	Indoco Remedies Limited	Healthcare	0.42%
72	Baazar Style Retail Limited	Consumer Discretionary	0.36%
73	GMM Pfaudler Limited	Industrials	0.33%
74	Popular Vehicles and Services Limited	Consumer Discretionary	0.09%
75	Kwality Wall's (India) Limited	Consumer Staples	0.01%
76	Net Current Assetsother	—	-0.74%

Frequently Asked Questions

Yes. As of its 31 July 2026 disclosure, ICICI Bank Limited is 6.78% of HDFC Value Fund's net assets — its number 1 holding.

Yes. As of its 31 July 2026 disclosure, HDFC Bank Limited is 4.88% of HDFC Value Fund's net assets — its number 2 holding.

Yes. As of its 31 July 2026 disclosure, State Bank of India is 3.43% of HDFC Value Fund's net assets — its number 3 holding.

Yes. As of its 31 July 2026 disclosure, Axis Bank Limited is 3.25% of HDFC Value Fund's net assets — its number 4 holding.

Yes. As of its 31 July 2026 disclosure, Bharti Airtel Limited is 3.23% of HDFC Value 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.