Shares of HDFC Bank surged to a 52-week high on Wednesday (July 3), driven by the potential of increased weightage on the MSCI indices. This surge has brought attention to the mutual fund schemes that hold HDFC Bank shares, as investors look to see how their portfolios might benefit from these gains.
Mutual fund buying and selling activity
According to Trendlyne data, Quant ELSS Tax Saver Growth was the largest buyer of HDFC Bank shares in June 2024, acquiring 5,857,500 shares, which constitutes 0.08% of the bank’s paid-up equity.
This is particularly noteworthy as Quant Mutual Fund, known for its underweight position in private banks, has increased its allocation towards HDFC Bank, making it one of their top holdings now.
Conversely, SBI Bluechip Fund Regular Growth was the biggest seller, offloading 3,000,000 shares, or 0.04% of the company’s paid-up equity, during the same period.
In May 2024, a total of 233 mutual funds bought and 92 sold HDFC Bank shares, resulting in a net change of 50,394,062 shares.
Top mutual fund holdings of HDFC Bank as of May 2024
A closer look at mutual fund holdings reveals changes in May 2024:
| Mutual Fund | AUM (₹ crore) | Shares held |
| Quant ELSS Tax Saver Growth | 9,860.39 | 58,57,500 |
| ICICI Prudential Bluechip Fund Growth | 55,459.29 | 1,78,96,257 |
| Quant Small Cap Fund Growth | 21,242.79 | 31,36,000 |
| Parag Parikh Flexi Cap Regular Growth | 66,383.82 | 3,64,94,675 |
| Axis ELSS Tax Saver Fund Growth | 34,895.64 | 1,35,75,526 |
| HDFC Top 100 Fund Growth | 33,488.50 | 1,94,76,319 |
| HDFC Flexi Cap Fund Growth | 54,692.16 | 3,45,00,000 |
| Nippon India ETF Nifty 50 BeES | 27,031.10 | 2,04,08,656 |
| ICICI Prudential Business Cycle Fund Regular Growth | 9,663.24 | 27,48,236 |
| Aditya Birla Sun Life Arbitrage Fund Growth | 12,683.86 | 60,54,400 |
| ICICI Prudential Equity Arbitrage Fund Regular Growth | 20,894.12 | 1,02,45,400 |
| ICICI Prudential Value Discovery Fund Growth | 42,669.05 | 2,67,11,919 |
| Quant Mid Cap Fund Growth | 7,952.99 | 14,60,000 |
| Nippon India Arbitrage Fund Growth | 15,157.75 | 68,48,600 |
| ICICI Prudential Equity & Debt Fund Growth | 35,122.02 | 1,04,66,177 |
| Axis Small Cap Fund Regular Growth | 20,504.37 | 13,33,780 |
| Quant Infrastructure Fund Growth | 3,564.61 | 12,76,500 |
| Tata Equity P/E Fund Regular Growth | 7,904.83 | 42,79,996 |
| Axis Bluechip Fund Growth | 32,707.97 | 1,64,84,985 |
| HDFC Arbitrage Fund Wholesale Plan Growth | 12,297.96 | 73,08,950 |
| Nippon India Large Cap Fund – Growth | 26,925.10 | 1,70,00,529 |
| Quant Absolute Fund Growth | 2,114.19 | 9,50,000 |
| ICICI Prudential S&P BSE Sensex ETF | 8,983.42 | 80,33,584 |
| ICICI Prudential Equity Savings Fund Growth | 10,278.86 | 46,55,530 |
| Quant Active Fund Growth | 10,204.01 | 7,48,500 |
| Quant Multi Asset Fund Growth | 2,400.49 | 7,20,000 |
| Quant Dynamic Asset Allocation Fund Regular Growth | 1,148.29 | 7,10,000 |
| ICICI Prudential Multi-Asset Fund Growth | 41,159.52 | 1,37,16,687 |
| Nippon India ETF S&P BSE Sensex | 8,078.72 | 72,22,064 |
| ICICI Prudential Nifty 50 ETF | 15,870.66 | 1,19,84,281 |
| ICICI Prudential Focused Equity Fund Growth | 8,139.49 | 16,99,824 |
| SBI Nifty 50 ETF | 1,79,764.58 | 13,64,18,819 |
| UTI S&P BSE Sensex ETF | 39,377.65 | 3,57,71,231 |
| Kotak Nifty Bank ETF | 5,707.70 | 1,09,06,481 |
| HDFC Focused 30 Fund Growth | 11,945.94 | 74,75,000 |
(Source: Trendlyne data)