HDFC Non-Cyclical Consumer Fund
The fund remains deeply committed to domestic consumption, with retail and discretionary plays forming over half the portfolio—Eternal, HUL, and Vishal Mega Mart anchor a thesis on rising middle-class spending. The manager's recent moves into power stocks while trimming fintech suggest a tactical shift toward defensive consumption and infrastructure beneficiaries, even as the concentrated top-10 exposure at 53% reflects conviction in mega-cap consumer leaders. The slight build in M&M signals confidence in auto demand recovery amid rural consumption tailwinds.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Primary | ₹13.0790 | +0.95% | -6.55% | — | — |
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 |
|---|---|
| Adani Power (Mundra) Limited | 1.11% |
| The Tata Power Company Ltd. | 1.00% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Eternal Limited INE758T01015 | 9.07% |
| 2 | Hindustan Unilever Ltd. INE030A01027 | 8.46% |
| 3 | Mahindra & Mahindra Ltd. INE101A01026 | 5.47% |
| 4 | Bharti Airtel Ltd. INE397D01024 | 5.35% |
| 5 | Vishal Mega Mart Limited INE01EA01019 | 4.71% |
| 6 | United Spirits Limited INE854D01024 | 4.67% |
| 7 | Godrej Consumer Products Ltd. INE102D01028 | 4.44% |
| 8 | Titan Company Ltd. INE280A01028 | 4.00% |
| 9 | Varun Beverages Ltd INE200M01039 | 3.27% |
| 10 | TREPS - Tri-party Repo | 3.19% |
| 11 | Maruti Suzuki India Limited INE585B01010 | 3.06% |
| 12 | Britannia Industries Ltd. INE216A01030 | 2.99% |
| 13 | Asian Paints Limited INE021A01026 | 2.97% |
| 14 | Trent Ltd. INE849A01020 | 2.75% |
| 15 | TVS Motor Company Ltd. INE494B01023 | 2.52% |
| 16 | Nestle India Ltd. INE239A01024 | 2.42% |
| 17 | Chalet Hotels Ltd. INE427F01016 | 2.28% |
| 18 | Sona Blw Precision Forgings INE073K01018 | 2.08% |
| 19 | Sedemac Mechatronics Limited INE00XB01019 | 1.84% |
| 20 | LENSKART SOLUTIONS LIMITED INE956O01016 | 1.61% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does HDFC Non-Cyclical Consumer Fund hold?
HDFC Non-Cyclical Consumer Fund holds 48 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 33.06% of NAV.
What is the largest holding in HDFC Non-Cyclical Consumer Fund?
The largest position in HDFC Non-Cyclical Consumer Fund is Eternal Limited, accounting for 9.07% of NAV in the Retailing sector.
Is HDFC Non-Cyclical Consumer Fund a concentrated or diversified fund?
With a Gini coefficient of 0.492, HDFC Non-Cyclical Consumer Fund is moderately concentrated. The HHI concentration index is 39,009 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 33.06% of the portfolio.
What is the market cap allocation of HDFC Non-Cyclical Consumer Fund?
Based on SEBI's AMFI classification, HDFC Non-Cyclical Consumer Fund's equity portfolio is split as: Large Cap: 63.68%, Mid Cap: 13.53%, Small Cap: 18.22%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does HDFC Non-Cyclical Consumer Fund invest in most?
HDFC Non-Cyclical Consumer Fund has the highest allocation to Retailing (21.41%), Automobiles (13.09%), Consumer Durables (10.61%). The fund is invested across 15 sectors in total.
How actively managed is HDFC Non-Cyclical Consumer Fund compared to other Sectoral / Thematic funds?
HDFC Non-Cyclical Consumer Fund has an Active Share of 81.74%, 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 Non-Cyclical Consumer Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, HDFC Non-Cyclical Consumer Fund added 2 new stocks (including Adani Power (Mundra) Limited) and exited 1 stock (including PB Fintech Limited). Total holding count increased from 49 to 50 stocks.