HDFC Manufacturing Fund
The fund maintains a classic manufacturing tilt with concentrated exposure to autos, pharma, and defense—sectors positioned to benefit from domestic industrialisation and "Make in India" tailwinds. The top ten holdings account for a third of assets, with Reliance anchoring the portfolio while pharmaceuticals and automobiles together represent nearly 28 percent, signalling conviction in capex-driven growth and export competitiveness. Recent exits of tech-related names suggest the manager is disciplining non-core holdings and doubling down on tangible manufacturing plays.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Primary | ₹11.2090 | +1.76% | +7.64% | — | — |
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 | |
|---|---|---|
| No new entries this month | ||
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Reliance Industries Ltd. INE002A01018 | 5.83% |
| 2 | Divis Laboratories Ltd. INE361B01024 | 4.43% |
| 3 | Maruti Suzuki India Limited INE585B01010 | 3.68% |
| 4 | JSW Steel Ltd. INE019A01038 | 3.54% |
| 5 | Mahindra & Mahindra Ltd. INE101A01026 | 3.05% |
| 6 | Bharat Electronics Ltd. INE263A01024 | 2.66% |
| 7 | Tata Motors Limited INE1TAE01010 | 2.65% |
| 8 | Bajaj Auto Limited INE917I01010 | 2.56% |
| 9 | Hindustan Aeronautics Limited INE066F01020 | 2.47% |
| 10 | Tata Motors Passenger Vehicles Limited INE155A01022 | 2.37% |
| 11 | Cummins India Ltd. INE298A01020 | 2.26% |
| 12 | Glenmark Pharmaceuticals Ltd. INE935A01035 | 2.21% |
| 13 | Hindalco Industries Ltd. INE038A01020 | 2.20% |
| 14 | Bharat Forge Ltd. INE465A01025 | 2.18% |
| 15 | Ambuja Cements Ltd. INE079A01024 | 2.10% |
| 16 | Tata Steel Ltd. INE081A01020 | 2.00% |
| 17 | Hindustan Petroleum Corp. Ltd. INE094A01015 | 1.94% |
| 18 | Sun Pharmaceutical Industries Ltd. INE044A01036 | 1.88% |
| 19 | Godrej Consumer Products Ltd. INE102D01028 | 1.82% |
| 20 | Lupin Ltd. INE326A01037 | 1.78% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does HDFC Manufacturing Fund hold?
HDFC Manufacturing Fund holds 82 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 20.53% of NAV.
What is the largest holding in HDFC Manufacturing Fund?
The largest position in HDFC Manufacturing Fund is Reliance Industries Ltd., accounting for 5.83% of NAV in the Petroleum Products sector.
Is HDFC Manufacturing Fund a concentrated or diversified fund?
With a Gini coefficient of 0.432, HDFC Manufacturing Fund is well-diversified. The HHI concentration index is 20,589 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 20.53% of the portfolio.
What is the market cap allocation of HDFC Manufacturing Fund?
Based on SEBI's AMFI classification, HDFC Manufacturing Fund's equity portfolio is split as: Large Cap: 53.89%, Mid Cap: 18.74%, Small Cap: 25.66%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does HDFC Manufacturing Fund invest in most?
HDFC Manufacturing Fund has the highest allocation to Pharmaceuticals & Biotechnology (15.05%), Automobiles (12.61%), Auto Components (9.42%). The fund is invested across 21 sectors in total.
How actively managed is HDFC Manufacturing Fund compared to other Sectoral / Thematic funds?
HDFC Manufacturing Fund has an Active Share of 80.92%, 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 Manufacturing Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, HDFC Manufacturing Fund exited 2 stocks (including Techno Electric & Engin. Co. Ltd.). Total holding count decreased from 86 to 84 stocks.