Mutual funds’ portfolio shifts: Aditya Infotech, BSE stand out among top 10 stocks by holding value changes in September
If you invest in mutual funds, it is worth tracking which stocks fund managers are buying and selling, as these changes can offer insights into how their portfolios are shifting.
In September 2026, mutual funds increased the value of their holdings in stocks such as BSE, HDFC Bank, Coal India, Meesho, and Gland Pharma, according to the latest Fund Folio – Indian Mutual Fund Tracker report by Motilal Oswal Financial Services.
However, a rise in the value of a mutual fund’s holdings does not necessarily mean fund managers bought more shares. The change can reflect fresh purchases, changes in share prices, or a combination of both.
Comparing changes in holding value with changes in shareholding quantity offers investors a clearer picture of where mutual funds increased their exposure.
Which stocks saw the biggest increase in mutual funds’ holding value in September?
Aditya Infotech recorded the highest growth in holding value among the top 10 stocks, at 35.6%, while BSE led in the percentage increase in shareholding quantity, at 34.6%.
| Stocks | Holding value in Sep ( ₹ crore) | Value change MoM (%) | Shares held in Sep (lakh) | Shareholding change MoM (%) | Stock Price change MoM (%) |
| BSE | 20,060 | 26.8% | 649 | 34.6% | -5.8% |
| HDFC Bank | 2,79,780 | 1.0% | 39,472 | 1.0% | 0.1% |
| Coal India | 30,190 | 7.3% | 7,104 | 1.4% | 5.6% |
| Meesho | 12,140 | 18.6% | 5,331 | 6.9% | 10.8% |
| Gland Pharma | 13,800 | 15.3% | 476 | 14.8% | 0.5% |
| Tata Steel | 36,000 | 5.3% | 19,531 | 5.3% | 0.4% |
| Lenskart Solutions | 18,030 | 11.1% | 2,633 | 7.4% | 3.7% |
| Dr Reddy’s Laboratories | 15,490 | 13.2% | 1,256 | 6.0% | 6.1% |
| Aditya Infotech | 6,070 | 35.6% | 158 | 25.7% | 7.5% |
| ITC | 54,630 | 3.0% | 20,778 | 0.1% | 2.9% |
*Source: Motilal Oswal Financial Services’ Fund Folio: Indian Mutual Fund Tracker; September 2026 activity; Holding values and share quantities are as of September 2026; month-on-month changes compare September with August 2026; Figures have been converted from billion to crore and million to lakh, respectively.
BSE saw a 26.8% increase in the value of mutual funds’ holdings to ₹20,060 crore. The quantity of shares held rose 34.6%, while the stock’s price declined 5.8% during the month. This indicates that the increase in holding value was driven by a higher number of shares held, rather than a rise in the stock price.
Aditya Infotech also recorded a substantial increase in holding value, up 35.6% to ₹6,070 crore. Its shareholding quantity rose 25.7%, while its stock price gained 7.5%. Both the increase in shareholding and price appreciation contributed to the higher portfolio value.
However, HDFC Bank‘s holding value increased by just 1% to ₹2.8 lakh crore, alongside a 1% rise in the quantity of shares held. Its price was nearly unchanged, suggesting that the increase in holding value largely reflected the additional shares.
ITC presents another example of why investors should compare value and quantity. Mutual funds’ holding value rose 3%, while their shareholding increased only 0.1%. The stock’s 2.9% price gain explains most of the increase in value.
How many mutual funds bought or sold these stocks in September?
| Stocks | Funds that bought | Funds that sold |
| BSE | 15 | 5 |
| HDFC Bank | 15 | 6 |
| Coal India | 14 | 6 |
| Meesho | 11 | 7 |
| Gland Pharma | 9 | 7 |
| Tata Steel | 19 | 2 |
| Lenskart Solutions | 14 | 4 |
| Dr Reddy’s Laboratories | 17 | 4 |
| Aditya Infotech | 10 | 6 |
| ITC | 11 | 10 |
*Source: Motilal Oswal Financial Services’ Fund Folio: Indian Mutual Fund Tracker; September 2026 activity
Tata Steel recorded the broadest buying participation, with 19 funds buying and 2 selling. Dr Reddy’s Laboratories followed, with 17 funds buying against four selling. BSE and HDFC Bank each saw 15 funds buying, exceeding the number of funds selling.
ITC saw a more mixed pattern, with 11 funds buying and 10 selling. Aditya Infotech, which recorded the highest growth in holding value, saw 10 funds buying and 6 selling.
Disclaimer: This is purely for educational/informational purposes and should not be taken as any sort of investment advice. Always consult a SEBI-registered advisor before making any investment decisions.
