Fund manager · HDFC

Ashish Shah

Fund Manager and Senior equity Analyst at HDFC. Runs 2 schemes worth ₹3,351 Cr.

Fund house
HDFCThey run their schemes at HDFC.
AUM they run
₹3,351 CrThe AUM of the schemes they run, as main or co-manager, at the latest month's end, as AMFI reports it. A scheme two people run counts for both.
Schemes
2 now · 0 beforeSchemes they run now, as main or co-manager, and ones they ran before, since Nov 2025.
Experience
20 yearsOver 20 years of experience in Equity Research covering sectors like Automobiles, Telecom, Infrastructure, Aviation and Industrials

What Ashish Shah's schemes hold^{(Nov 2025 – Sept 2026)}

What Ashish Shah's schemes hold in Sept 2026. Tick up to 2 to plot them.
Plot	94 companies ·	₹ Cr
	Larsen and Toubro	252
	ICICI Bank	168
	Kalpataru Projects International Limited	154
	NTPC	153
	HDFC Bank	128
	Interglobe Aviation Limited	97.9
	Ambuja Cement	90.4
	State Bank of India	89.2
	Prestige Estate Project	81.5
	ADANI PORT AND SPECIAL ECONOMIC ZONE LTD	77.3
	UltraTech Cement Limited	73.4
	Tata Steel Limited	70.6
	J Kumar Infraprojects Limited	64.9
	TD Power Systems Limited	56.6
	Power Grid Corporation of India	47.7
	Birla Corporation Limited	46.6
	G R Infraprojects Limited	44.8
	Adani Power Limited	42.2
	Power Finance Corporation	42
	Jsw Infrastructure Limited	41.1
	Electronics Mart India Limited	37.5
	Centum Electronics Ltd	37.2
	Brigade Enterprises Ltd	36.8
	Axis Bank	36.8
	Bharat Electronics	36.5
	Reliance Industries	35.6
	Hindustan Aeronautics Limited	35
	Nexus Select Mall Management Pvt Ltd	33.5
	Voltamp Transformers Limited	33.3
	Coal India	32.5
	Hindalco Industries	32.4
	Delhivery Limited	30.9
	Nagarjuna Construction Co	30.3
	Oil and Natural Gas Corporation Limited	29.4
	Container Corporation of India Limited	29.2
	Akzo Nobel India Limited	27.7
	Gujarat Pipavav Port	27.7
	Can Fin Homes Limited	27.2
	Bharti Airtel Limited	27.1
	AIA Engineering	26.3
	Tata Power Co	26
	Kotak Mahindra Bank Limited	25
	Ceigall India Limited	24.9
	GAIL India	24.7
	Clean Max Enviro Energy Solutions Limited	24.4
	Blue Dart Express	23.2
	Adani Enterprises	22.7
	Titagarh Rail System Ltd	22.5
	Power Mech Projects Limited	22
	Diamond Power Infra Limited	21.9

Larsen and Toubro
ICICI Bank

Market value of each ticked company across the schemes Ashish Shah runs, ₹ crore. Month end. Source: AMC monthly portfolio disclosures.
Month	Larsen and Toubro	ICICI Bank
Sept 2025	₹0 Cr	₹0 Cr
Oct 2025	₹0 Cr	₹0 Cr
Nov 2025	₹155 Cr	₹153 Cr
Dec 2025	₹162 Cr	₹148 Cr
Jan 2026	₹159 Cr	₹149 Cr
Feb 2026	₹173 Cr	₹152 Cr
Mar 2026	₹151 Cr	₹133 Cr
Apr 2026	₹169 Cr	₹130 Cr
May 2026	₹172 Cr	₹106 Cr
Jun 2026	₹174 Cr	₹107 Cr
Jul 2026	₹166 Cr	₹95.5 Cr
Aug 2026	₹170 Cr	₹90.9 Cr
Sept 2026	₹252 Cr	₹168 Cr

Fig. 1.Market value of each ticked company across the schemes Ashish Shah runs, ₹ crore. Month end. Source: AMC monthly portfolio disclosures.

Allocation^{(Sept 2026)}

Market cap

		% of AUM
Large Cap	31	51.67

Mid Cap	13	9.02

Small Cap	45	34.34

Unlisted	4	1.53

Other equity	1	2.11

Cash & others		1.32

Sectors

Companies

Fig. 2.What the schemes this manager runs hold, all together, by market cap, by sector and by company. Hover a slice or a row; click a slice to open it.

What Ashish Shah bought and sold^{(Nov 2025 – Sept 2026)}

What Ashish Shah bought and sold. Change in market value since the previous month, ₹ crore. Month end. Source: AMC monthly portfolio disclosures.

Fig. 3.Change in market value since the previous month, ₹ crore. Month end. Source: AMC monthly portfolio disclosures.