Funds/Sectoral / Thematic/HDFC Innovation Fund

HDFC Innovation Fund

HDFC Mutual Fund·Sectoral / Thematic·vs Nifty 500 TRI

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	3M	6M	1Y	3Y CAGR	5Y CAGR
Direct Growth	₹10.2250	—	—	—	—	—	—
Regular Growth	₹10.1210	+3.87%	+0.91%	-2.75%	—	—	—

Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.

Portfolio Metrics(latest month)

Holdings

Top 5 Weight

27.31%

Top 10 Weight

43.40%

Active Share

—

Large Cap

49.79%

Gini

0.448

What Changed2026-03-31 → 2026-04-30

Holdings: 61 → 62+1 added−0 removed31 weight shifts ≥ 0.1%

Stock	Sector	Weight
OnEMI Technology Solutions Limited	Finance	0.54%

Full Holdings

#	Holding	Sector	Class	% to NAV
1	Eternal Limited INE758T01015	Retailing	EQUITY	8.82%
2	Reliance Industries Ltd. INE002A01018	Petroleum Products	EQUITY	4.80%
3	Bajaj Finance Ltd. INE296A01032	Finance	EQUITY	4.72%
4	PB Fintech Limited INE417T01026	Financial Technology (Fintech)	EQUITY	4.67%
5	Divis Laboratories Ltd. INE361B01024	Pharmaceuticals & Biotechnology	EQUITY	4.30%
6	Bharat Electronics Ltd. INE263A01024	Aerospace & Defense	EQUITY	4.16%
7	Mahindra & Mahindra Ltd. INE101A01026	Automobiles	EQUITY	3.91%
8	TREPS - Tri-party Repo		CASH_EQUIVALENT	3.60%
9	Hindustan Aeronautics Limited INE066F01020	Aerospace & Defense	EQUITY	3.05%
10	Torrent Pharmaceuticals Ltd. INE685A01028	Pharmaceuticals & Biotechnology	EQUITY	2.52%
11	The Tata Power Company Ltd. INE245A01021	Power	EQUITY	2.45%
12	LENSKART SOLUTIONS LIMITED INE956O01016	Retailing	EQUITY	2.45%
13	Navin Fluorine International Ltd. INE048G01026	Chemicals & Petrochemicals	EQUITY	2.29%
14	GE T&D INDIA LIMITED INE200A01026	Electrical Equipment	EQUITY	2.29%
15	INFO EDGE (INDIA) LIMITED INE663F01032	Retailing	EQUITY	2.24%
16	Sun Pharmaceutical Industries Ltd. INE044A01036	Pharmaceuticals & Biotechnology	EQUITY	2.19%
17	Laurus Labs Ltd. INE947Q01028	Pharmaceuticals & Biotechnology	EQUITY	2.09%
18	Rubicon Research Limited INE506V01022	Pharmaceuticals & Biotechnology	EQUITY	1.82%
19	Cummins India Ltd. INE298A01020	Industrial Products	EQUITY	1.74%
20	Sai Life Sciences Limited INE570L01029	Pharmaceuticals & Biotechnology	EQUITY	1.69%

Sector Allocation

Pharmaceuticals & Biotechnology19.3%

Retailing14.6%

Aerospace & Defense7.7%

Electrical Equipment7.2%

Finance5.3%

Auto Components5.1%

IT - Software4.9%

Power4.9%

Petroleum Products4.8%

Financial Technology (Fintech)4.7%

Top 10 sectors by % to NAV. Excludes derivatives.