December 2025 Saw Strong Mutual Fund Activity: Top Mutual Funds Bought and Sold These Shares

India’s mutual fund industry recorded net equity inflows of ₹28,100 crore in December 2025, slightly lower than November’s figures. Systematic Investment Plan (SIP) contributions hit a record high of ₹31,000 crore, reflecting continued investor confidence in long-term investing.

Top mutual funds maintained their focus on large-cap financial stocks, while some midcap winners, particularly in the EMS sector, saw profit-booking. The funds were also active in newly listed IPOs. Here’s a breakdown of their key buys and sells in December, according to Nuvama Alternative & Quantitative Research:

SBI Mutual Fund

As India’s largest mutual fund by assets, SBI MF was a major investor in new IPOs, putting ₹2,186 crore into Meesho and ₹2,017 crore into ICICI Prudential AMC. It also increased its stake in Interglobe Aviation by ₹1,817 crore amid last month’s aviation sector challenges. On the selling side, the fund trimmed holdings in HDFC Bank (₹972 crore), Reliance Industries (₹750 crore), and Eicher Motors (₹742 crore). It completely exited Bank of Baroda, Aditya Birla Capital, Grasim Industries, Craftsman Automation, Punjab & Sind Bank, and Nazara Tech.

ICICI Prudential Mutual Fund

The fund also bolstered its position in Interglobe Aviation with a ₹3,760 crore investment. Other notable purchases included ITC (₹2,128 crore) and Swiggy (₹1,302 crore). The fund reduced stakes in Infosys (₹4,516 crore), TCS (₹864 crore), and Vedanta (₹863 crore) and fully exited Cohance Lifesciences, Indus Towers, EPL, NMDC, ZF Commercial, and Pricol. Fresh investments were made in Maharashtra Seamless, Coforge, GSK Pharma, and JSW Infrastructure.

HDFC Mutual Fund

HDFC MF also strengthened its Interglobe Aviation holding by ₹691 crore. Additionally, it invested in Eternal (₹600 crore) and ICICI Prudential AMC (₹538 crore). The fund trimmed stakes in Cipla (₹428 crore), Eicher Motors (₹206 crore), and L&T Finance (₹147 crore) and fully exited Bharat Dynamics, Gandhar Oil, OLA Electric, and Torrent Power. New buys included Tata Chemicals and Wakefit Innovations.

Also Read: Parag Parikh Flexi Cap Fund Adjusts Holdings: Exposure Raised in ITC and HDFC Bank 

Axis Mutual Fund

Axis MF added to positions in Shriram Finance (₹714 crore), Reliance Industries (₹586 crore), and Tata Motors (₹513 crore). It reduced stakes in Bajaj Finance (₹1,305 crore), IndiGo (₹1,000 crore), and Bharti Airtel (₹877 crore), while completely exiting Hexaware, Asian Paints, and Biocon. The fund also made fresh purchases in BPCL, Aequs, and ICICI Prudential AMC.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.