HOW BIG-10 FUND HOUSES CHURNED STOCKS IN JULY 2026

HOW BIG-10 FUND HOUSES CHURNED STOCKS IN JULY 2026

What are the critical parameters in assessing mutual fund trading action? The actions of the large fund houses matter a good deal as they set the tone. Here we look at what the top 10 fund houses (by equity AUM) bought and sold in July 2026. The focus will be on the key large cap shifts of these funds, and their alpha picks for July 2026. Here equity buying / selling refers to overall buying across equity funds, passive funds, and hybrid funds. Here is the narrative.

SBI MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JULY 2026

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

Once again, SBI MF has cut stakes in most BFSI stocks, other than HDFC Bank and Bajaj Finance. The alpha hunting has focused largely on financial inclusion plays, which account for 4 out of the top 5 alpha additions for the month of July 2026.

ICICI PRUDENTIAL MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JULY 2026

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

ICICI Pru MF made has gone aggressively long on BFSI, while cutting positions sharply in Infosys and Sun Pharma. On the alpha picks, there is a strong focus on automobile input companies, with 3 out of 5 stocks accounting for the sector, directly or indirectly.

HDFC MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JULY 2026

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

The fund has not been too aggressive on the buy side, while it has been exiting industrials quite aggressively in the month of July 2026. On alpha, the fund has preferred several recently listed new-age stocks like Ather Energy (EVs), Ideaforge (Defence), and Jupiter Life (Healthcare).

NIPPON MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JULY 2026

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

Nippon MF has been an aggressive buyer in M&M and deep value buyer in Infosys in July 2026. Its theme was predominantly on the buy side in July 2026. Alpha hunting focus was focused on two CDMO stocks (Piramal Pharma and Torrent Pharma), with RBL Bank a surprise addition.

KOTAK MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JULY 2026

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

Kotak MF was an aggressive seller in ICICI Bank and Maruti Suzuki, but was also an aggressive buyer in Axis Bank. It continues to prefer BFSI stocks. Its alpha stocks show a wide variety including rail infrastructure and BESS companies.

ABSL MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JULY 2026

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

Aditya Birla Sun Life (ABSL) MF aggressively sold into Infosys, HDFC Bank, and SBI, while it was not a significant buyer in any large cap stocks. Its alpha hunting pattern showed a clear shift away from the large cap space to the mid-cap and small cap space.

AXIS MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JULY 2026

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

Axis MF made big bets on large BFSI plays, while continuing to lighten up on Reliance Industries and SBI. On the alpha space, the fund showed a preference for digital startups, CDMO, and EMS companies. On valuation grounds, it seems to be shifting from Eternal to Swiggy.

DSP MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JULY 2026

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

DSP MF was an aggressive buyer in Reliance Industries, M&M and SBI, while exiting Infosys and Cipla on the large cap sell side. Alpha hunting looked more like a bottom-up exercise, with Havells and HDFC AMC surprise inclusions in the shopping list of the fund.

MIRAE MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JULY 2026

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

Mirae Mutual Fund aggressively added positions in Maruti and Axis Bank; while there was subdued selling select large caps across the board. In alpha hunting, the focus was on Diamond Power (debt turnaround) and Indian Bank (emerging large bank).

MOTILAL OSWAL MUTUAL FUND: EQUITY PORTFOLIO CHURN IN JULY 2026

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

Paytm and Shriram Finance were the only preferred large caps for MOSL MF. However, it aggressively pared positions in stocks like Persistent, Coforge, Kalyan Jewellers, and BEL. On the alpha front, the fund showed interest in Diamond Power and Cemindia, apart from Bluestone Jewellery (recent IPO).