HDFC Innovation Fund
The fund tilts heavily toward innovation-driven sectors, with pharmaceuticals and retail dominating at over 34% combined—reflecting conviction in consumption and healthcare disruption. The concentrated top-10 portfolio (44.5% weight) reveals a focused stock-picking approach rather than diversification, anchored by Eternal's outsized 8.8% position. Recent moves including fresh exposure to OnEMI and increased Reliance weighting signal the manager is building conviction in digital transformation and energy-transition plays, maintaining minimal cash despite market volatility.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Direct Growth | ₹10.3150 | — | — | — | — |
| Regular Growth | ₹10.2090 | +1.64% | — | — | — |
Portfolio Metrics(latest month)
vs Category Peers
Highly DifferentiatedActive Share = ½Σ|wfund − wpeer|, computed using leave-one-out peer portfolio within SEBI category.
Similar Funds in Category
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| OnEMI Technology Solutions Limited | 0.54% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Eternal Limited INE758T01015 | 8.82% |
| 2 | Reliance Industries Ltd. INE002A01018 | 4.80% |
| 3 | Bajaj Finance Ltd. INE296A01032 | 4.72% |
| 4 | PB Fintech Limited INE417T01026 | 4.67% |
| 5 | Divis Laboratories Ltd. INE361B01024 | 4.30% |
| 6 | Bharat Electronics Ltd. INE263A01024 | 4.16% |
| 7 | Mahindra & Mahindra Ltd. INE101A01026 | 3.91% |
| 8 | TREPS - Tri-party Repo | 3.60% |
| 9 | Hindustan Aeronautics Limited INE066F01020 | 3.05% |
| 10 | Torrent Pharmaceuticals Ltd. INE685A01028 | 2.52% |
| 11 | The Tata Power Company Ltd. INE245A01021 | 2.45% |
| 12 | LENSKART SOLUTIONS LIMITED INE956O01016 | 2.45% |
| 13 | Navin Fluorine International Ltd. INE048G01026 | 2.29% |
| 14 | GE T&D INDIA LIMITED INE200A01026 | 2.29% |
| 15 | INFO EDGE (INDIA) LIMITED INE663F01032 | 2.24% |
| 16 | Sun Pharmaceutical Industries Ltd. INE044A01036 | 2.19% |
| 17 | Laurus Labs Ltd. INE947Q01028 | 2.09% |
| 18 | Rubicon Research Limited INE506V01022 | 1.82% |
| 19 | Cummins India Ltd. INE298A01020 | 1.74% |
| 20 | Sai Life Sciences Limited INE570L01029 | 1.69% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does HDFC Innovation Fund hold?
HDFC Innovation Fund holds 60 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 27.31% of NAV.
What is the largest holding in HDFC Innovation Fund?
The largest position in HDFC Innovation Fund is Eternal Limited, accounting for 8.82% of NAV in the Retailing sector.
Is HDFC Innovation Fund a concentrated or diversified fund?
With a Gini coefficient of 0.448, HDFC Innovation Fund is well-diversified. The HHI concentration index is 29,358 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 27.31% of the portfolio.
What is the market cap allocation of HDFC Innovation Fund?
Based on SEBI's AMFI classification, HDFC Innovation Fund's equity portfolio is split as: Large Cap: 49.79%, Mid Cap: 28.75%, Small Cap: 15.71%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does HDFC Innovation Fund invest in most?
HDFC Innovation Fund has the highest allocation to Pharmaceuticals & Biotechnology (19.31%), Retailing (14.60%), Aerospace & Defense (7.74%). The fund is invested across 23 sectors in total.
How actively managed is HDFC Innovation Fund compared to other Sectoral / Thematic funds?
HDFC Innovation Fund has an Active Share of 78.08%, classifying it as "Highly Differentiated" among 237 Sectoral / Thematic peers. This means the fund takes significantly different stock positions compared to its category peers.
What changed in HDFC Innovation Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, HDFC Innovation Fund added 1 new stock (including OnEMI Technology Solutions Limited). Total holding count increased from 61 to 62 stocks.