HDFC Defence Fund Raises Holdings in HAL, Mazagon Dock, BEL and Seven Other Stocks

Key Takeaways:

• HDFC Defence Fund increased its share count in 10 existing portfolio companies during September 2026. 
• The fund added 20 lakh Bharat Electronics shares, one lakh HAL shares and 48,000 Mazagon Dock Shipbuilders shares. 
• The scheme's AUM stood at ₹11,493 crore at September-end and it continued to hold 24 stocks. 

HDFC Defence Fund increased its holdings in 10 portfolio companies during September 2026, including Hindustan Aeronautics, Bharat Electronics and Mazagon Dock Shipbuilders. 

According to ACE MF data cited by The Economic Times, the scheme added one lakh HAL shares, taking its holding to 31.05 lakh shares from 30.05 lakh in August. It also added 48,000 Mazagon Dock Shipbuilders shares, increasing the holding to 17.25 lakh shares. 

The largest increase by number of shares among the three prominent defence companies was in Bharat Electronics. HDFC Defence Fund added around 20 lakh BEL shares, taking its holding to 4.40 crore shares from 4.20 crore. 

Beyond these companies, the scheme increased its holding in Bharat Forge by about 3.96 lakh shares, taking the total to 77.02 lakh. 

It also added approximately 1.50 lakh Eicher Motors shares and 1.04 lakh Tata Motors shares. Other increases were recorded in Bharat Dynamics, BEML, Astra Microwave Products and Bosch. 

Solar Industries India was one of the holdings where exposure was reduced. The scheme sold 14,825 shares during September, following sales in the previous month as well. 

The overall number of stocks in the portfolio remained unchanged at 24, meaning the month's activity primarily involved adjustments to existing positions rather than the addition of entirely new companies or complete exits. 

Bharat Electronics remained the largest allocation at about 14.87% of NAV, followed by Bharat Forge at 12.91% and Hindustan Aeronautics at 12.61%. 

HDFC Defence Fund's assets under management stood at approximately ₹11,493 crore at the end of September. The scheme was launched in June 2023 and invests predominantly in defence and allied-sector companies. 

Monthly portfolio changes describe how the fund's holdings evolved during a particular period and should not be interpreted as stock recommendations or signals regarding future performance.