HDFC Innovation Fund - Regular Plan - Growth

Regular

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.
Direct

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.

Equity Holding : 95.45% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 95.45%

No of Stocks : 60 (Category Avg - 44.44) | Large Cap Investments : 22.31%| Mid Cap Investments : 18.31% | Small Cap Investments : 6.14% | Other : 48.69%

Portfolio Summary (as on 31st Oct,2025)

Particulars	This Scheme	Category
No. of Stocks	60	43.41
Top 5 Stock Weight	27.64%	32.46%
Top 10 Stock Weight	43.37%	49.59%
Top 3 Sector Weight	33.4%	43.5%

Category - Sectoral/Thematic

Particulars	This Scheme	Category
Average mcap (Cr)	47598.72	72450.77
Holdings in large cap stocks	22.31%	37.14%
Holdings in mid cap stocks	18.31%	14.47%
Holdings in small cap stocks	6.14%	13.1%

Category - Sectoral/Thematic

Top 10 Stocks holding in Portfolio (as on 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
Eternal Ltd.	E-retail/ e-commerce	2506	9.18%	-0.71%	9.89% (Sep 2025)	0% (Nov 2024)	78.87 L	0.00
Bajaj Finance Ltd.	Non banking financial company (nbfc)	1480.8	5.42%	-0.05%	5.47% (Sep 2025)	0% (Nov 2024)	14.20 L	0.00
PB Fintech Ltd.	Financial technology (fintech)	1313	4.81%	0.37%	5.03% (Jul 2025)	0% (Nov 2024)	7.35 L	57.98 k
Divis Laboratories Ltd.	Pharmaceuticals	1169.2	4.28%	0.80%	4.28% (Oct 2025)	0% (Nov 2024)	1.74 L	15.00 k
Bharat Electronics Ltd.	Aerospace & defense	1077.6	3.95%	0.06%	3.95% (Oct 2025)	0% (Nov 2024)	25.29 L	29.00 k
Info Edge (India) Ltd.	Internet & catalogue retail	970.5	3.56%	0.01%	3.8% (Aug 2025)	0% (Nov 2024)	7.04 L	0.00
Reliance Industries Ltd.	Refineries & marketing	936.4	3.43%	0.12%	3.43% (Oct 2025)	0% (Nov 2024)	6.30 L	0.00
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	918.1	3.36%	-0.51%	4.51% (Jul 2025)	0% (Nov 2024)	2.63 L	-0.30 L
Hindustan Aeronautics Ltd.	Aerospace & defense	748.8	2.74%	-0.19%	2.97% (Jul 2025)	0% (Nov 2024)	1.60 L	0.00
Sun Pharmaceutical Industries Ltd.	Pharmaceuticals	719.5	2.64%	0.03%	2.7% (Aug 2025)	0% (Nov 2024)	4.26 L	0.00

- indicates change in weight in the portfolio. # indicates a new entry.

View complete holding

Complete equity Portfolio (as on 31st Oct,2025)

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Sector
M-Cap

Help me understand this table

Stock Invested in	Sector	Sector Total	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty	M-Cap	GroupName
Eternal Ltd.	E-retail/ e-commerce	10.85	2506	9.18%	-0.71%	9.89% (Sep 2025)	0% (Nov 2024)	78.87 L	0.00	Other	48.69
Bajaj Finance Ltd.	Non banking financial company (nbfc)	5.42	1480.8	5.42%	-0.05%	5.47% (Sep 2025)	0% (Nov 2024)	14.20 L	0.00	Other	48.69
PB Fintech Ltd.	Financial technology (fintech)	4.81	1313	4.81%	0.37%	5.03% (Jul 2025)	0% (Nov 2024)	7.35 L	57.98 k	Other	48.69
Divis Laboratories Ltd.	Pharmaceuticals	15.86	1169.2	4.28%	0.80%	4.28% (Oct 2025)	0% (Nov 2024)	1.74 L	15.00 k	Large Cap	22.31
Bharat Electronics Ltd.	Aerospace & defense	6.69	1077.6	3.95%	0.06%	3.95% (Oct 2025)	0% (Nov 2024)	25.29 L	29.00 k	Mid Cap	18.31
Info Edge (India) Ltd.	Internet & catalogue retail	3.56	970.5	3.56%	0.01%	3.8% (Aug 2025)	0% (Nov 2024)	7.04 L	0.00	Other	48.69
Reliance Industries Ltd.	Refineries & marketing	3.43	936.4	3.43%	0.12%	3.43% (Oct 2025)	0% (Nov 2024)	6.30 L	0.00	Large Cap	22.31
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	5.11	918.1	3.36%	-0.51%	4.51% (Jul 2025)	0% (Nov 2024)	2.63 L	-0.30 L	Large Cap	22.31
Hindustan Aeronautics Ltd.	Aerospace & defense	6.69	748.8	2.74%	-0.19%	2.97% (Jul 2025)	0% (Nov 2024)	1.60 L	0.00	Other	48.69
Sun Pharmaceutical Industries Ltd.	Pharmaceuticals	15.86	719.5	2.64%	0.03%	2.7% (Aug 2025)	0% (Nov 2024)	4.26 L	0.00	Large Cap	22.31
Navin Flourine International Ltd.	Commodity chemicals	3.41	713.1	2.61%	0.38%	2.61% (Oct 2025)	0% (Nov 2024)	1.25 L	0.00	Small Cap	6.14
Cummins India Ltd.	Compressors, pumps & diesel engines	2.48	677.3	2.48%	0.12%	2.48% (Oct 2025)	0% (Nov 2024)	1.56 L	0.00	Mid Cap	18.31
Laurus Labs Ltd.	Pharmaceuticals	15.86	664.1	2.43%	0.17%	2.43% (Oct 2025)	0% (Nov 2024)	6.96 L	0.00	Other	48.69
Tata Power Co. Ltd.	Integrated power utilities	2.95	645.9	2.37%	-0.02%	2.6% (Jul 2025)	0% (Nov 2024)	15.95 L	0.00	Mid Cap	18.31
Coforge Ltd.	Computers - software & consulting	5.4	567.8	2.08%	0.12%	2.29% (Jul 2025)	0% (Nov 2024)	3.19 L	0.00	Other	48.69
Torrent Pharmaceuticals Ltd.	Pharmaceuticals	15.86	561	2.06%	-0.13%	2.42% (Jul 2025)	0% (Nov 2024)	1.58 L	0.00	Mid Cap	18.31
SRF Ltd.	Specialty chemicals	2.17	509.1	1.87%	-0.02%	2.17% (Jul 2025)	0% (Nov 2024)	1.74 L	0.00	Mid Cap	18.31
# Lenskart Solutions Ltd.	Speciality retail	1.83	500	1.83%	1.83%	1.83% (Oct 2025)	0% (Nov 2024)	12.44 L	12.44 L	Other	48.69
Hyundai Motor India Ltd.	Passenger cars & utility vehicles	5.11	478.6	1.75%	-0.20%	2.5% (Aug 2025)	0% (Nov 2024)	1.96 L	0.00	Other	48.69
Sai Life Sciences Ltd.	Petrochemicals	1.66	452.2	1.66%	0.03%	1.66% (Oct 2025)	0% (Nov 2024)	4.92 L	0.00	Other	48.69
J S W Energy Ltd.	Power generation	1.51	412.2	1.51%	-0.09%	1.6% (Sep 2025)	0% (Nov 2024)	7.81 L	0.00	Mid Cap	18.31
GE T&D India Ltd.	Heavy electrical equipment	4.42	408.3	1.50%	-0.03%	1.53% (Sep 2025)	0% (Nov 2024)	1.34 L	0.00	Small Cap	6.14
ABB India Ltd.	Heavy electrical equipment	4.42	375.8	1.38%	-0.06%	1.63% (Jul 2025)	0% (Nov 2024)	72.00 k	0.00	Large Cap	22.31
Glenmark Pharmaceuticals Ltd.	Pharmaceuticals	15.86	370.2	1.36%	-0.54%	1.93% (Aug 2025)	0% (Nov 2024)	1.96 L	-0.57 L	Mid Cap	18.31
Godrej Consumer Products Ltd	Personal care	1.36	372.5	1.36%	-0.14%	1.5% (Sep 2025)	0% (Nov 2024)	3.33 L	0.00	Large Cap	22.31
Siemens Ltd.	Heavy electrical equipment	4.42	342.8	1.26%	-0.08%	1.38% (Jul 2025)	0% (Nov 2024)	1.11 L	0.00	Large Cap	22.31
Anthem Biosciences Ltd.	Biotechnology	1.24	338.6	1.24%	0.07%	1.3% (Aug 2025)	0% (Nov 2024)	4.77 L	76.80 k	Other	48.69
# Thyrocare Technologies Ltd.	Healthcare service provider	1.21	330.6	1.21%	1.21%	1.21% (Oct 2025)	0% (Nov 2024)	2.37 L	2.37 L	Small Cap	6.14
# Rubicon Research Ltd.	Pharmaceuticals	15.86	303.9	1.11%	1.11%	1.11% (Oct 2025)	0% (Nov 2024)	4.92 L	4.92 L	Other	48.69
Le Travenues Technology Ltd.	Tour, travel related services	1.54	296.7	1.09%	-0.03%	1.18% (Aug 2025)	0% (Nov 2024)	11.00 L	0.00	Other	48.69
Persistent Systems Ltd.	Computers - software & consulting	5.4	292.8	1.07%	0.15%	1.07% (Oct 2025)	0% (Nov 2024)	49.48 k	0.00	Other	48.69
Saatvik Green Energy Ltd.	Other electrical equipment	1.05	285.7	1.05%	0.13%	1.05% (Oct 2025)	0% (Nov 2024)	5.45 L	0.00	Other	48.69
Motherson Sumi Systems Ltd.	Auto components & equipments	2.29	284.6	1.04%	-0.06%	1.1% (Sep 2025)	0% (Nov 2024)	27.00 L	0.00	Large Cap	22.31
Urban Company Ltd.	E-retail/ e-commerce	10.85	282	1.03%	-0.12%	1.15% (Sep 2025)	0% (Nov 2024)	17.88 L	0.00	Other	48.69
Lupin Ltd.	Pharmaceuticals	15.86	276.6	1.01%	-0.76%	1.81% (Aug 2025)	0% (Nov 2024)	1.41 L	-1.00 L	Large Cap	22.31
Hindustan Unilever Ltd.	Diversified fmcg	0.98	266.3	0.98%	-0.07%	1.05% (Sep 2025)	0% (Nov 2024)	1.08 L	0.00	Large Cap	22.31
Ipca Laboratories Ltd.	Pharmaceuticals	15.86	266.1	0.97%	-0.11%	1.15% (Aug 2025)	0% (Nov 2024)	2.09 L	0.00	Other	48.69
Sona BLW Precision Forgings Ltd.	Auto components & equipments	2.29	260	0.95%	0.08%	1.01% (Jul 2025)	0% (Nov 2024)	5.50 L	0.00	Other	48.69
Kaynes Technology India Private Ltd.	Industrial products	1.01	241.4	0.88%	-0.10%	0.98% (Sep 2025)	0% (Nov 2024)	36.00 k	0.00	Other	48.69
Infosys Ltd.	Computers - software & consulting	5.4	222.3	0.81%	-0.02%	0.88% (Aug 2025)	0% (Nov 2024)	1.50 L	0.00	Large Cap	22.31
Clean Science and Technology Ltd.	Commodity chemicals	3.41	217.4	0.80%	-0.11%	1.01% (Aug 2025)	0% (Nov 2024)	2.16 L	0.00	Other	48.69
Hexaware Technologies Ltd.	Computers - software & consulting	5.4	213.9	0.78%	-0.02%	0.94% (Aug 2025)	0% (Nov 2024)	3.11 L	0.00	Other	48.69
InterGlobe Aviation Ltd.	Airline	0.76	206.8	0.76%	-0.03%	0.89% (Jul 2025)	0% (Nov 2024)	36.77 k	0.00	Large Cap	22.31
3M India Ltd.	Diversified	0.73	198.1	0.73%	-0.03%	0.82% (Aug 2025)	0% (Nov 2024)	6.70 k	0.00	Mid Cap	18.31
Bharat Forge Ltd.	Castings & forgings	0.68	185.6	0.68%	0.03%	0.68% (Oct 2025)	0% (Nov 2024)	1.40 L	0.00	Mid Cap	18.31
Sonata Software Ltd.	Computers - software & consulting	5.4	179.7	0.66%	0.01%	0.78% (Jul 2025)	0% (Nov 2024)	4.86 L	0.00	Small Cap	6.14
Brainbees Solutions Ltd.	E-retail/ e-commerce	10.85	174.2	0.64%	-0.06%	0.72% (Aug 2025)	0% (Nov 2024)	5.00 L	0.00	Other	48.69
Torrent Power Ltd.	Integrated power utilities	2.95	158	0.58%	0.02%	0.64% (Jul 2025)	0% (Nov 2024)	1.20 L	0.00	Mid Cap	18.31
TBO TEK Ltd.	Tour, travel related services	1.54	123	0.45%	-0.04%	0.49% (Sep 2025)	0% (Nov 2024)	82.94 k	0.00	Other	48.69
Pi Industries Ltd.	Pesticides & agrochemicals	0.55	115	0.42%	-0.02%	0.56% (Jul 2025)	0% (Nov 2024)	32.13 k	0.00	Mid Cap	18.31
# Wework India Management Ltd.	Diversified commercial services	0.35	95.8	0.35%	0.35%	0.35% (Oct 2025)	0% (Nov 2024)	1.48 L	1.48 L	Other	48.69
Endurance Technologies Ltd.	Auto components & equipments	2.29	82.3	0.30%	-0.80%	1.19% (Aug 2025)	0% (Nov 2024)	29.00 k	-0.75 L	Mid Cap	18.31
Atlanta Electricals Ltd	Heavy electrical equipment	4.42	76.3	0.28%	0.04%	0.28% (Oct 2025)	0% (Nov 2024)	77.37 k	0.00	Other	48.69
Jubilant Ingrevia Ltd.	Specialty chemicals	2.17	60	0.22%	0.01%	0.28% (Jul 2025)	0% (Nov 2024)	86.94 k	0.00	Other	48.69
# LG Electronics India Pvt. Ltd.	Consumer electronics	0.14	38.4	0.14%	0.14%	0.14% (Oct 2025)	0% (Nov 2024)	23.06 k	23.06 k	Other	48.69
Aditya Infotech Ltd.	Industrial products	1.01	35.6	0.13%	-0.01%	0.14% (Sep 2025)	0% (Nov 2024)	27.07 k	0.00	Other	48.69
Dhanuka Agritech Ltd.	Pesticides & agrochemicals	0.55	34.7	0.13%	-0.02%	0.2% (Jul 2025)	0% (Nov 2024)	25.27 k	0.00	Small Cap	6.14
- Alkyl Amines Chemicals Ltd.	Specialty chemicals	2.17	11.1	0.04%	0.00%	0.06% (Jul 2025)	0% (Nov 2024)	5.98 k	0.00	Other	48.69
- Fine Organic Industries Ltd.	Specialty chemicals	2.17	8.7	0.03%	0.00%	0.04% (Aug 2025)	0% (Nov 2024)	1.97 k	0.00	Small Cap	6.14
- Aether Industries Ltd.	Specialty chemicals	2.17	1.9	0.01%	0.00%	0.01% (Aug 2025)	0% (Nov 2024)	2.53 k	0.00	Other	48.69
Bosch Ltd.	Auto components & equipments	2.29	282.2	0.00%	-1.09%	-	-	-	-	Large Cap	22.31
Suven Pharmaceuticals Ltd.	Pharmaceuticals	15.86	244.7	0.00%	-0.94%	-	-	-	-	Other	48.69
Cipla Ltd.	Pharmaceuticals	15.86	255.6	0.00%	-0.98%	-	-	-	-	Large Cap	22.31
One 97 Communications Ltd.	Financial technology (fintech)	4.81	21.1	0.00%	-0.08%	-	-	-	-	Other	48.69

- indicates change in weight in the portfolio. # indicates a new entry.

New Stocks added in Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
# Lenskart Solutions Ltd.	Speciality retail	500	1.83%	1.83%	1.83% (Oct 2025)	0% (Nov 2024)	12.44 L	1243792
# Wework India Management Ltd.	Diversified commercial services	95.8	0.35%	0.35%	0.35% (Oct 2025)	0% (Nov 2024)	1.48 L	148373
# Thyrocare Technologies Ltd.	Healthcare service provider	330.6	1.21%	1.21%	1.21% (Oct 2025)	0% (Nov 2024)	2.37 L	236613
# Rubicon Research Ltd.	Pharmaceuticals	303.9	1.11%	1.11%	1.11% (Oct 2025)	0% (Nov 2024)	4.92 L	491670
# LG Electronics India Pvt. Ltd.	Consumer electronics	38.4	0.14%	0.14%	0.14% (Oct 2025)	0% (Nov 2024)	23.06 k	23062

Stocks removed from Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	1M Change in Qty
Bosch Ltd.	Auto components & equipments	282.2	0.00%	-1.09%	1.22% (Jul 2025)	0% (Nov 2024)	-7398
Suven Pharmaceuticals Ltd.	Pharmaceuticals	244.7	0.00%	-0.94%	1.14% (Jul 2025)	0% (Nov 2024)	-278311
Cipla Ltd.	Pharmaceuticals	255.6	0.00%	-0.98%	1.07% (Aug 2025)	0% (Nov 2024)	-170000
One 97 Communications Ltd.	Financial technology (fintech)	21.1	0.00%	-0.08%	0.09% (Aug 2025)	0% (Nov 2024)	-18804

Trend in stock holdings (Top 15 Holding)

Stock	Oct 2025	Sep 2025	Aug 2025	Jul 2025	Jun 2025	May 2025	Apr 2025	Mar 2025	Feb 2025	Jan 2025	Dec 2024	Nov 2024	Oct 2024
Eternal Ltd.	9.18%	9.89%	9.83%	9.07%	-	-	-	-	-	-	-	-	-
Bajaj Finance Ltd.	5.42%	5.47%	4.95%	4.73%	-	-	-	-	-	-	-	-	-
PB Fintech Ltd.	4.81%	4.44%	4.76%	5.03%	-	-	-	-	-	-	-	-	-
Mahindra & Mahindra Ltd.	3.36%	3.87%	4.36%	4.51%	-	-	-	-	-	-	-	-	-
Divis Laboratories Ltd.	4.28%	3.48%	3.86%	3.29%	-	-	-	-	-	-	-	-	-
Bharat Electronics Ltd.	3.95%	3.89%	3.67%	3.39%	-	-	-	-	-	-	-	-	-
Info Edge (India) Ltd.	3.56%	3.55%	3.80%	2.99%	-	-	-	-	-	-	-	-	-
Reliance Industries Ltd.	3.43%	3.31%	3.40%	2.56%	-	-	-	-	-	-	-	-	-
Hindustan Aeronautics Ltd.	2.74%	2.93%	2.75%	2.97%	-	-	-	-	-	-	-	-	-
Sun Pharmaceutical Industries Ltd.	2.64%	2.61%	2.70%	1.93%	-	-	-	-	-	-	-	-	-
Navin Flourine International Ltd.	2.61%	2.23%	2.33%	2.59%	-	-	-	-	-	-	-	-	-
Tata Power Co. Ltd.	2.37%	2.39%	2.37%	2.60%	-	-	-	-	-	-	-	-	-
Laurus Labs Ltd.	2.43%	2.26%	2.37%	2.14%	-	-	-	-	-	-	-	-	-
Torrent Pharmaceuticals Ltd.	2.06%	2.19%	2.23%	2.42%	-	-	-	-	-	-	-	-	-
Coforge Ltd.	2.08%	1.96%	2.19%	2.29%	-	-	-	-	-	-	-	-	-