The number
On 31 August 2026, equity mutual funds held ₹2,02,030 crore in Indian IT companies. That was 5.43% of everything they held in shares, and 5.17% of their net assets.
For scale, the same funds held ₹6,34,394 crore in banks, a little over three times as much.
The data is the AMCs' monthly portfolio disclosures for 31 August 2026, read for 587 schemes in SEBI's equity categories, one row per scheme. Index funds, ETFs and hybrids are not included. A holding's rupee value is its weight times the scheme's net assets on that date. "IT" means the AMCs' IT - Software and IT - Services industries: 45 companies, held by 425 of the 587 schemes.
Which companies
| Company | Schemes holding it | Value (₹ crore) | Share of IT money |
|---|---|---|---|
| Infosys | 234 | 49,750 | 24.63% |
| Coforge | 160 | 22,524 | 11.15% |
| Tata Consultancy Services | 141 | 21,564 | 10.67% |
| HCL Technologies | 89 | 17,675 | 8.75% |
| Persistent Systems | 127 | 17,593 | 8.71% |
| Tech Mahindra | 170 | 16,645 | 8.24% |
| Mphasis | 98 | 12,207 | 6.04% |
| Oracle Financial Services Software | 59 | 4,815 | 2.38% |
Infosys alone is a quarter of the money. The seven companies above ₹10,000 crore together are 78.19%.
Midcaps over the giants
Two things in that table stand out.
Coforge holds more fund money than TCS. Coforge sits in 160 schemes with ₹22,524 crore; TCS in 141 with ₹21,564 crore. Persistent Systems, at ₹17,593 crore, is almost level with HCL Technologies. That is not about company size: on BSE's figures for 1 October 2026, TCS's market value was ₹7,52,309 crore and Coforge's ₹80,852 crore, less than a ninth of it.
Wipro barely registers. It was held by 19 schemes, for ₹1,284 crore in all. Tech Mahindra, whose market value (₹1,50,846 crore) is close to Wipro's (₹1,57,989 crore), was in 170.
The AMCs also file under LTM Ltd (the former LTIMindtree, same ISIN): 56 schemes, ₹4,059 crore.
Where the IT weight sits
Category holdings as a share of the category's net assets:
| Category | Schemes | In IT |
|---|---|---|
| Value | 23 | 7.03% |
| Dividend Yield | 12 | 6.70% |
| Flexi Cap | 45 | 6.49% |
| Sectoral / Thematic | 252 | 6.08% |
| Large Cap | 35 | 5.70% |
| Mid Cap | 34 | 5.17% |
| ELSS | 49 | 5.03% |
| Large & Mid Cap | 35 | 4.22% |
| Focused | 28 | 3.92% |
| Small Cap | 35 | 2.93% |
The spread is narrow: from value funds to focused funds, every diversified category holds between about 4% and 7%. Small caps hold least, because most of India's IT money is in companies too large for them.
The technology funds are where IT is concentrated. Tata Digital India Fund held 61.49% in IT companies, ICICI Prudential Technology Fund 57.54%. Outside the sector funds, the highest was Quantum Value Fund at 15.41%.
What this does not tell you
It is one month's snapshot. We have the 31 August 2026 disclosure only. It shows where the money sat, not whether funds were adding to IT or selling it.
Foreign tech is left out. Some funds own Alphabet, Microsoft or Nvidia directly. Those are counted with foreign holdings, not here. So are telecom and internet companies such as Bharti Airtel and Eternal, which the AMCs file under other industries.
Low weight is not a signal either way. A small share in IT can mean managers dislike the sector, or that the companies are small next to the banks. This is not a view on any company or fund, and not a recommendation to buy or sell.
Where to go from here
Each company's page lists every scheme that holds it: Infosys and Coforge, for example. The guide to sectoral and thematic funds explains what a technology fund is allowed to do.
For the other two big sectors, see bank stocks in mutual funds and pharma and healthcare stocks.
Frequently asked questions
How much mutual fund money is in IT stocks?
On the 31 August 2026 portfolio disclosures, the 587 schemes in SEBI's equity categories held ₹2,02,030 crore in 45 Indian IT software and services companies. That is 5.43% of everything they held in shares, against 17.06% in banks.
Which IT stock do mutual funds hold the most?
Infosys, at ₹49,750 crore across 234 schemes, a quarter (24.63%) of all the IT money. Coforge was second at ₹22,524 crore, just ahead of Tata Consultancy Services at ₹21,564 crore.
Which fund categories hold the most IT?
Weighted by size, value funds held 7.03% of their net assets in IT, dividend yield funds 6.70% and flexi-cap funds 6.49%. Small-cap funds held the least, 2.93%. The dedicated technology funds held up to 61.49%.
This is commentary on published data, not investment advice. WealthTicker is not a SEBI-registered adviser or distributor. Figures are as of the dates stated and can be revised by their source.
Keep reading
Bank stocks in mutual funds: 17% of equity money
Equity funds held ₹6.34 lakh crore in Indian banks on 31 August 2026, 17.06% of their shares. ICICI Bank and HDFC Bank alone were 48% of it.
Pharma and healthcare stocks in mutual funds: 10%
Equity funds held ₹3,73,711 crore in Indian pharma and healthcare companies on 31 August 2026, 10.05% of their shares. Mid caps held the most.
Sector mix: large-cap vs mid-cap vs small-cap funds
Large-cap funds had 26.16% in banks on 31 August 2026; small-cap funds 7.17%. Small caps lean on industrial products and auto parts instead. The full split.