Mutual fund · Sectoral / Thematic
HDFC Defence Fund
₹11,493 cr across 24 positions, as filed for 2026-09-30. Returns are the fund's AMFI growth-plan NAV; holdings and behavior come from its filed monthly portfolios.
Returns, against the category
Q2 FY27: +25% over 1 year against the median Sectoral / Thematic fund's +2%.
| Over | Quarter | 1 year | 3 years (ann.) | 5 years (ann.) |
|---|---|---|---|---|
| HDFC Defence Fund | 0% | +25% | +35% | — |
| Median Sectoral / Thematic fund | −2% | +2% | +12% | +11% |
—Q3 FY24—Q4 FY24+130%Q1 FY25+81%Q2 FY25+40%Q3 FY25+20%Q4 FY25+10%Q1 FY26+10%Q2 FY26+10%Q3 FY26+10%Q4 FY26+15%Q1 FY27+25%Q2 FY27
What moved the fund, last 12 filed months
Contribution = the fund's filed weight each month × that stock's price move in its own filings, in percentage points of NAV. Corporate-action months are left out.
| Stock | 12 months | Latest month |
|---|---|---|
| Bharat Forge Ltd. | +6.8 pp | −1.1 pp |
| Solar Industries India Ltd. | +4.4 pp | −0.2 pp |
| MTAR Technologies Limited | +4.0 pp | +0.5 pp |
| Astra Microwave Products Ltd. | +2.9 pp | −0.1 pp |
| Bharat Electronics Ltd. | +1.7 pp | −1.0 pp |
| Stock | 12 months | Latest month |
|---|---|---|
| Bharat Dynamics Limited | −0.9 pp | −0.5 pp |
| Mazagon Dock Shipbuilders Ltd | −0.5 pp | −0.5 pp |
| Power Mech Projects Ltd. | −0.2 pp | −0.0 pp |
| Techno Electric & Engin. Co. Ltd. | −0.2 pp | 0.0 pp |
| IDEAFORGE TECHNOLOGY LIMITED | −0.1 pp | −0.1 pp |
Holdings, as filed for 2026-09-30
| Holding | Sector | % of fund | Value | Held for | Vs avg cost |
|---|---|---|---|---|---|
| Bharat Electronics Limited | Capital Goods | 14.87% | ₹1,709 cr | 40 mo | +54% |
| Bharat Forge Limited | Automobile and Auto Components | 12.91% | ₹1,484 cr | 17 mo | +45% |
| Hindustan Aeronautics Limited | Capital Goods | 12.61% | ₹1,449 cr | 40 mo | +37% |
| Solar Industries India Limited | Chemicals | 10.28% | ₹1,182 cr | 39 mo | +118% |
| Astra Microwave Products Limited | Capital Goods | 6.44% | ₹740 cr | 35 mo | +108% |
| BEML Ltd | Capital Goods | 5.11% | ₹588 cr | 40 mo | -21% |
| Mtar Technologies Limited | Capital Goods | 5.09% | ₹585 cr | 40 mo | +312% |
| Eicher Motors Limited | Automobile and Auto Components | 4.67% | ₹536 cr | 13 mo | -0% |
| Bosch | Automobile and Auto Components | 4.10% | ₹471 cr | 10 mo | +21% |
| Bharat Dynamics Limited | Capital Goods | 3.19% | ₹366 cr | 17 mo | -31% |
| Cyient DLM | Capital Goods | 3.18% | ₹366 cr | 40 mo | +45% |
| Mazagon Dock Shipbuilders Limited | Capital Goods | 3.17% | ₹365 cr | 14 mo | -16% |
| Centum Electronics Limited | Capital Goods | 2.95% | ₹339 cr | 19 mo | +119% |
| Premier Explosives Limited | Chemicals | 2.77% | ₹319 cr | 39 mo | -17% |
| Data Patterns (India) Limited | Capital Goods | 1.98% | ₹227 cr | 16 mo | +54% |
How this fund actually behaves
Computed from every filed monthly portfolio (40 months of filings) by the research pipeline.
| Holding patience | Median months a position is held (25th–75th band) | 11 mo (2–16) |
| Win rate on exits | Closed positions sold above entry, and the payoff ratio (21 exits) | 71% · payoff 3.5× |
| Loser handling | Cuts losers vs averages down, from 12 months of filings | Averages down |
| Entry valuation discipline | Median P/E paid on entries over 36 months; share above 50× | 46× · 46% over 50× |
| Portfolio valuation today | Weighted P/E and P/B of the current book at filed prices | 85.8× P/E · 13.3× P/B · 0% loss-makers |
| Churn | Stocks entered and exited in 12 months, of 24 positions | 6 in · 6 out |
| Concentration | Top 10 holdings' share; effective number of positions | 79% · ~12 effective |