SPECIAL REPORT 079 – WHAT TOP 10 FUNDS BOUGHT/SOLD IN APR-26

Here is a quick look at what the top 10 fund houses (ranked by equity AUM) bought and sold in April 2026. We will look at the key movements in large cap stocks and also what these funds bought for alpha generation. Here equity buying / selling refers to all buying by a fund house across active equity, passive equity, and hybrid schemes. Here is a look at how the top-10 churned in April 2026.

SBI MUTUAL FUND: EQUITY PORTFOLIO CHURN IN APRIL 2026

The table below captures the stock churn of SBI Mutual Fund in April 2026.

SBI MF has shown a clear preference for select banking stocks this month, although it has remained cautious on HDFC Bank and Axis Bank. Alpha hunting has been a lot more stock specific. SBI MF was predominantly on the buy side in April.

ICICI PRUDENTIAL MUTUAL FUND: EQUITY PORTFOLIO CHURN IN APRIL 2026

The table below captures the stock churn of ICICI Pru Mutual Fund in April 2026.

ICICI Pru MF made select buying in Maruti on Q4 numbers and Sun Pharma on the back of the Organon acquisition. The fund has been slightly cautious on industrials on supply chain constraints. The alpha additions had an aggressive addition to ITC Hotels.

HDFC MUTUAL FUND: EQUITY PORTFOLIO CHURN IN APRIL 2026

The table below captures the stock churn of HDFC Mutual Fund in April 2026.

The fund has aggressively added positions in Eternal and Reliance Industries and remains positive on industrials. The fund did book some profits on Maruti and SBI. Its alpha picks had some surprise names like IXIGO and Vijaya Diagnostics.

NIPPON MUTUAL FUND: EQUITY PORTFOLIO CHURN IN APRIL 2026

The table below captures the stock churn of Nippon Mutual Fund in April 2026.

While the fund was an aggressive buyer in frontline banks, it heavily sold into industrials with aggressive paring of RIL positions. Alpha stories appear to have a strong financial inclusion bias to it, with 4 out of 5 being linked to financial inclusion.

KOTAK MUTUAL FUND: EQUITY PORTFOLIO CHURN IN APRIL 2026

The table below captures the stock churn of Kotak Mutual Fund in April 2026.

Kotak MF has been aggressive on the buy and sell side with a strong downsizing of banking stocks other than SBI. The alpha picks were more of bottom-up names. Buying continued quite aggressively in industrial names.

ABSL MUTUAL FUND: EQUITY PORTFOLIO CHURN IN APRIL 2026

The table below captures the stock churn of ABSL Mutual Fund in April 2026.

Aditya Birla Sun Life (ABSL) MF was more cautious on the buy side, even as it pared positions on banks and industrials. The alpha picks were once again interesting with a clear bias towards financial inclusion, accounting for 4 out of the 5 picks.

AXIS MUTUAL FUND: EQUITY PORTFOLIO CHURN IN APRIL 2026

The table below captures the stock churn of AXIS Mutual Fund in April 2026.

Axis MF was cautious on the big private banks, but preferred SBI and other industrials. Eternal continues to be a big favourite of funds for the sake of exposure. While financial inclusion is a key theme, healthcare stocks are attracting interest as hedged plays.

DSP MUTUAL FUND: EQUITY PORTFOLIO CHURN IN APRIL 2026

The table below captures the stock churn of DSP Mutual Fund in April 2026.

DSP MF was aggressive in buying up private sector banks, and was only cautious on Infosys. In terms of alpha selection, its stock choices had a strong large cap bias to it. Hyundai Motors were a surprise addition, despite weak quarterly results in Q4FY26.

MIRAE MUTUAL FUND: EQUITY PORTFOLIO CHURN IN APRIL 2026

The table below captures the stock churn of Mirae Mutual Fund in April 2026.

Mirae Mutual Fund was cautions on the buyside, although the selection of IndusInd looks more like a bet on the new management. Alpha choices were largely bottom-up. It was a seller in banks other than SBI.

MOTILAL OSWAL MUTUAL FUND: EQUITY PORTFOLIO CHURN IN APRIL 2026

The table below captures the stock churn of Motilal Oswal Mutual Fund in April 2026.

For the second month in a row, MOSL MF continued to be positive on Shriram Finance and Eternal. It also pared positions on Groww and MCX after the rally. The bottom-up picks were largely from the financial inclusion space.