HOW BIG-10 FUND HOUSES CHURNED STOCKS IN AUGUST 2026
HOW BIG-10 FUND HOUSES CHURNED STOCKS IN AUGUST 2026 While there are more than 45 registered AMCs in India, it is the top-10 AMCs by equity AUM that actually serve as the bellwethers. Their actions are closely tracked and also influence…
HOW BIG-10 FUND HOUSES CHURNED STOCKS IN AUGUST 2026
While there are more than 45 registered AMCs in India, it is the top-10 AMCs by equity AUM that actually serve as the bellwethers. Their actions are closely tracked and also influence the market direction in a significant way. Here, the focus is on what the top 10 fund houses (by equity AUM) bought and sold in August 2026. The focus will be on the key large cap shifts of these funds, and their alpha picks for August 2026. Here equity buying / selling refers to overall stock buying across equity funds, passive funds, and hybrid funds. Here is the narrative.
SBI MUTUAL FUND: EQUITY PORTFOLIO CHURN IN AUGUST 2026
The table below captures the stock churn of SBI Mutual Fund in August 2026.
| Large Cap Stocks Added | Large Cap Stocks Reduced | Bottom-up Alpha Additions |
|---|---|---|
| Kotak Mahindra Bank | State Bank of India (SBI) | Tenneco Clean Air |
| Bharti Airtel | Infosys Ltd | BSE Ltd |
| Neutral on: ICICI Bank, | Reliance Industries | Havells India |
| HDFC Bank, Axis Bank, | Fortis Healthcare | |
| L&T, Bajaj Finance | Endurance Tech |
SBI MF has remained neutral in a good number of financial stocks in August 2026. While it continues to prefer Bharti Airtel, the fund was an aggressive seller in SBI and Infosys. Alpha picks for the month included some major auto component makers.
ICICI PRUDENTIAL MUTUAL FUND: EQUITY PORTFOLIO CHURN IN AUGUST 2026
The table below captures the stock churn of ICICI Pru Mutual Fund in August 2026.
| Large Cap Stocks Added | Large Cap Stocks Reduced | Bottom-up Alpha Additions |
|---|---|---|
| Bharti Airtel | State Bank of India (SBI) | Dr Agarwal Health |
| Axis Bank | Larsen & Toubro (L&T) | SPR Autotech |
| HDFC Bank | Maruti Suzuki | Piramal Finance |
| Neutral on: ICICI Bank, | Infosys Ltd | Amber Enterprises |
| Reliance Industries | Sun Pharma | Rubicon Research. |
ICICI Prudential MF also used the month to pare some of its key positions in SBI, L&T, Maruti, Infosys etc. Buying was subdued for the month. Its alpha picks included a wide array of sector preferences ranging from healthcare to EMS and auto components.
HDFC MUTUAL FUND: EQUITY PORTFOLIO CHURN IN AUGUST 2026
The table below captures the stock churn of HDFC Mutual Fund in August 2026.
| Large Cap Stocks Added | Large Cap Stocks Reduced | Bottom-up Alpha Additions |
|---|---|---|
| Bharti Airtel | Eternal Ltd | Shiprocket Ltd |
| Maruti Suzuki | Larsen & Toubro (L&T) | Vedant Fashions |
| ICICI Bank | Reliance Industries | HEG Ltd |
| HDFC Bank | Rubicon Research | |
| State Bank of India (SBI) | Neutral on: Kotak Bank | Netweb Technologies |
HDFC MF still remained on the buy side, but buy quantities were relatively subdued in the month of August 2026. The fund was also selling in the Reliance counter, possibly making room for the Jio IPO. Alpha picks saw some preference for data centre / AI stocks.
NIPPON MUTUAL FUND: EQUITY PORTFOLIO CHURN IN AUGUST 2026
The table below captures the stock churn of Nippon Mutual Fund in August 2026.
| Large Cap Stocks Added | Large Cap Stocks Reduced | Bottom-up Alpha Additions |
|---|---|---|
| Axis Bank | ICICI Bank | Premier Energies |
| HDFC Bank | Eternal Ltd | Juniper Green Energy |
| State Bank of India (SBI) | NTPC Ltd | Amara Raja E&M |
| Bharti Airtel | Infosys Ltd | Vinati Organics |
| Reliance Industries | Neutral on: Nil Stocks | Manappuram Finance |
Nippon MF was a buyer in most banks, barring ICICI Bank. It was one of the few funds to be buying Reliance Industries in August 2026. The fund has shown valuation concerns over Eternal, while the alpha hunting has been more focused on the alternate Energy space.
KOTAK MUTUAL FUND: EQUITY PORTFOLIO CHURN IN AUGUST 2026
The table below captures the stock churn of Kotak Mutual Fund in August 2026.
| Large Cap Stocks Added | Large Cap Stocks Reduced | Bottom-up Alpha Additions |
|---|---|---|
| HDFC Bank | Eternal Ltd | Viyash Scientific |
| Bharti Airtel | Larsen & Toubro (L&T) | Kalyan Jewellers |
| ICICI Bank | Reliance Industries | Cochin Shipyards |
| Axis Bank | Bharat Electronics (BEL) | Mazagon Docks |
| State Bank of India | Neutral on: Nil Stocks | Delhivery |
Kotak MF was a buyer in most of the frontline banking stocks, while being an aggressive seller in Eternal Ltd on valuation and cash burn concerns. The alpha hunting of the fund was largely focused on the defence sector, on the back of slew of government orders expected.
ABSL MUTUAL FUND: EQUITY PORTFOLIO CHURN IN AUGUST 2026
The table below captures the stock churn of ABSL Mutual Fund in August 2026.
| Large Cap Stocks Added | Large Cap Stocks Reduced | Bottom-up Alpha Additions |
|---|---|---|
| HDFC Bank | Infosys Ltd | GE Vernova T&D |
| Larsen & Toubro (L&T) | Eternal Ltd | Piramal Finance |
| Neutral on: ICICI Bank, | Axis Bank | SPR Autotech |
| Reliance, Bharti Airtel, | Kotak Mahindra Bank | TD Power Systems |
| State Bank of India | Kalpataru Projects |
Aditya Birla Sun Life (ABSL) MF again remained biased on the sell side. However, it did buy aggressively in HDFC Bank and L&T. On the sell side, there was heavy selling in Infosys and Eternal. The alpha hunting stocks were focused on the power sector proxies.
AXIS MUTUAL FUND: EQUITY PORTFOLIO CHURN IN AUGUST 2026
The table below captures the stock churn of AXIS Mutual Fund in August 2026.
| Large Cap Stocks Added | Large Cap Stocks Reduced | Bottom-up Alpha Additions |
|---|---|---|
| Bharti Airtel | Bajaj Finance | Rubicon Research |
| Axis Bank | ICICI Bank | SPR Autotech |
| State Bank of India (SBI) | Reliance Industries | Karnataka Bank |
| Divi’s Laboratories | Eternal Ltd | Cyient Ltd |
| Neutral on: Nil Stocks | Mahindra & Mahindra (M&M) | Global Health Ltd |
Axis Mutual Fund, like most other funds, has been long on Bharti Airtel and short on Eternal in August 2026. Its approach to financials was distributed on both sides. In terms of its preferred picks in the alpha choices, there was a predominance of healthcare and digital plays.
DSP MUTUAL FUND: EQUITY PORTFOLIO CHURN IN AUGUST 2026
The table below captures the stock churn of DSP Mutual Fund in August 2026.
| Large Cap Stocks Added | Large Cap Stocks Reduced | Bottom-up Alpha Additions |
|---|---|---|
| Max Financial Services | Kotak Mahindra Bank | Thyrocare Technologies |
| State Bank of India (SBI) | Coforge Ltd | Oberoi Realty |
| Reliance Industries | HDFC AMC | |
| Bharti Airtel | Tech Mahindra | |
| Axis Bank | Neutral on: ICICI Bank | Concorde Biotech |
DSP MF exited Coforge well ahead of the corporate governance concerns that came up on the stock. The fund was an aggressive buyer in Max Financial. On the alpha hunting side, the fund showed a clear preference to the full value chain of healthcare stocks.
MIRAE MUTUAL FUND: EQUITY PORTFOLIO CHURN IN AUGUST 2026
The table below captures the stock churn of Mirae Mutual Fund in August 2026.
| Large Cap Stocks Added | Large Cap Stocks Reduced | Bottom-up Alpha Additions |
|---|---|---|
| Bharti Airtel | Laurus Laboratories | Jyoti CNC Automation |
| Axis Bank | State Bank of India (SBI) | Arvind Ltd |
| HDFC Bank | Larsen & Toubro (L&T) | Juniper Green Energy |
| Neutral on: ICICI Bank, | Infosys Ltd | TD Power Systems |
| Reliance Industries | Tenneco Clean Air |
Mirae Mutual Fund aggressively added positions in Bharti Airtel, while other buys were rather subdued. It was a major seller in Laurus Labs for the second month in a row. The alpha hunting list had a mix of alternate energy and industrials in its preference list.
MOTILAL OSWAL MUTUAL FUND: EQUITY PORTFOLIO CHURN IN AUGUST 2026
The table below captures the stock churn of Motilal Oswal Mutual Fund in August 2026.
| Large Cap Stocks Added | Large Cap Stocks Reduced | Bottom-up Alpha Additions |
|---|---|---|
| Sterlite Technologies | Paytm Ltd | Lenskart Solutions |
| MCX Ltd | Persistent Systems | Kaynes Technology |
| Kalyan Jewellers | Coforge Ltd | Redington |
| Bharat Electronics (BEL) | Shriram Finance | KFIN Technologies |
| Neutral: Nil Stocks | KEI Industries | Divi’s Laboratories |
On the buy side, the fund showed a liking for stocks like Sterlite Tech, MCX, and Kalyan Jewellers; each a niche play in the field. MOSL was also a seller in Coforge ahead of the governance issues. On the alpha hunting front, the focus was more on the EMS space and the healthcare space, especially into hospitals.
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