Fund manager · Aditya Birla

Dhaval Shah

Fund Manager and Analyst, Head – Research (Equity) at Aditya Birla. Runs 3 schemes worth ₹16,362 Cr.

Fund house
Aditya BirlaThey run their schemes at Aditya Birla.
AUM they run
₹16,362 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
3 now · 7 beforeSchemes they run now, as main or co-manager, and ones they ran before, since Oct 2024.
Experience
21 years~21 years

What Dhaval Shah's schemes hold^{(Jul 2019 – Sept 2026)}

What Dhaval Shah's schemes hold in Sept 2026. Tick up to 2 to plot them.
Plot	119 companies ·	₹ Cr
	ICICI Bank	1,024
	HDFC Bank	854
	Eternal Limited	596
	Mahindra and Mahindra Limited	566
	Axis Bank	522
	Reliance Industries	506
	State Bank of India	465
	Federal Bank	389
	Bharti Airtel Limited	380
	Tech Mahindra	351
	Hindalco Industries	313
	Bosch	311
	Emcure Pharmaceuticals Limited	297
	TVS Holdings Limited	271
	Larsen and Toubro	268
	Varun Beverages Limited	261
	Cummins India	256
	Fortis Healthcare Limited	256
	Bajaj Finance Limited	247
	Infosys	247
	Thyrocare Technologies Ltd	233
	Meesho Ltd	230
	Ambuja Cement	227
	Cholamandalam DBS Finance	218
	Titan Co Ltd	216
	Adani Power Limited	215
	Godrej Consumer Products	210
	ADANI PORT AND SPECIAL ECONOMIC ZONE LTD	204
	Computer Age Management Services Limited	202
	NTPC	183
	SBFC Finance Limited	182
	Avenue Supermarts Limited	180
	LandT Finance Holdings Limited	169
	Balrampur Chini Mills	166
	Gillette India Limited	166
	Dixon Technologies India Limited	160
	Sai Life Sciences Limited	154
	Mankind Pharma Limited	138
	Sedemac Mechatronics Ltd	138
	Sumitomo Chemical India Limited	135
	Max Financial Services Limited	130
	TVS Motor Co Ltd	126
	Corona Remedies Limited	121
	Home First Finance Co India Ltd	121
	Hindustan Unilever	120
	Eicher Motors	120
	Thomas Cook India Limited	119
	Persistent Systems	117
	Medi Assist Healthcare Services Limited	116
	Ajanta Pharmaceuticals Limited	115

ICICI Bank
HDFC Bank

Market value of each ticked company across the schemes Dhaval Shah runs, ₹ crore. Month end. Source: AMC monthly portfolio disclosures.
Month	ICICI Bank	HDFC Bank
Sept 2025	₹1,249 Cr	₹1,109 Cr
Oct 2025	₹1,229 Cr	₹1,140 Cr
Nov 2025	₹1,269 Cr	₹1,164 Cr
Dec 2025	₹1,227 Cr	₹1,145 Cr
Jan 2026	₹1,238 Cr	₹1,073 Cr
Feb 2026	₹1,068 Cr	₹1,025 Cr
Mar 2026	₹934 Cr	₹882 Cr
Apr 2026	₹979 Cr	₹930 Cr
May 2026	₹973 Cr	₹897 Cr
Jun 2026	₹1,065 Cr	₹962 Cr
Jul 2026	₹1,112 Cr	₹902 Cr
Aug 2026	₹1,127 Cr	₹854 Cr
Sept 2026	₹1,024 Cr	₹854 Cr

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

Allocation^{(Sept 2026)}

Market cap

		% of AUM
Large Cap	37	58.48

Mid Cap	32	16.57

Small Cap	48	23.43

Unlisted	2	0.070

Cash & others		1.44

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 Dhaval Shah bought and sold^{(Oct 2025 – Sept 2026)}

What Dhaval 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.