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.
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.
| 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 |
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.
Sheetal Goel is a Content Producer at Livemint, where she covers corporate developments, personal finance, business trends, markets, and SEBI-related updates. She focuses on simplifying complex financial concepts and presenting them in a clear, reader-friendly manner, thereby helping audiences better understand investment trends, personal finance, and market developments. Her writing focuses on making finance more accessible to everyday readers while maintaining clarity, accuracy, and relevance. <br><br> She holds a degree in Economics (Hons.) along with an MBA in Finance, which has helped her develop a strong foundation in financial analysis, market understanding, and business reporting. Before joining journalism, she worked with finance and broking firms, where she closely followed market developments, investment strategies, and evolving industry trends. This practical exposure strengthened her understanding of financial markets. She has also written content across multiple formats and platforms, including YouTube, LinkedIn, and Instagram. <br><br> Over time, she has developed expertise in covering market-linked stories, investor-focused topics, and regulatory updates in a simplified yet informative style. She also enjoys reading and listening to Hindi poetry, reflecting her appreciation for literature and creative expression beyond the world of markets and numbers.
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