Reliance Industries, Grasim [Get Quote], and ITC were the top held stocks by mutual funds in terms of value in July, together accounting for 10 per cent of the total equity investments by mutual funds.

SBI [Get Quote], Crompton Greaves [Get Quote], and Zee moved higher on the top 20 list, while Hindalco [Get Quote] slipped from the 14th to the 19th position. Meanwhile, among the fund house favourites, Infosys [Get Quote] replaced Reliance Industries [Get Quote].

Top stocks held by MFs in July
Stock	Value (in Rs crore)
Reliance	3007.45
Grasim	1911.98
ITC	1818.29
ONGC [Get Quote]	1770.39
SBI	1711.80
BHEL	1529.92
Satyam [Get Quote] Computer	1423.43
Tata Motors [Get Quote]	1390.13
Bharti Airtel [Get Quote]	1288.14
Crompton Greaves	1250.07
Jaiprakash Assc	1128.68
Hindustan Lever [Get Quote]	986.60
Maruti Udyog [Get Quote]	985.23
Infosys	886.62
Zee Telefilms	882.48
Reliance Commn	851.26
L&T	814.39
ACC	769.58
Hindalco	769.45
M&M	712.29

A Moneycontrol.com study of open-ended equity portfolios reveals that engineering, and auto stocks dominated MF's top held stocks list with three stocks each figuring among the top 20. Engineering pivotal BHEL slipped one step to the 6th slot, Crompton Greaves moved higher by two ranks to the 10th position, while L&T retained its 17th rank.

In the auto pack, Tata Motors skid two steps to the 8th position, while Maruti and M&M retained their position at the 13th and 20th position.

Software, oil and gas, FMCG, banking and telecom followed next with two stocks each in the top 20. Software pivotals Satyam and Infosys moved one step higher to 7th and 14th place.

Oil and gas majors Reliance and ONGC retained their positions at the top and 4th slot respectively. In the banking pack, ICICI Bank [Get Quote] was the new entrant, while SBI moved higher from 7th to 5th position.

FMCG heavyweights ITC, and Hindustan Lever moved one step lower to 3rd and 12th place. Telecom stocks Bharti Airtel and Reliance Communications [Get Quote] retained their positions at the 9th and 16th slot respectively.

One stock each from the construction, metals, and media space were seen in the top 20 list, while pharma stocks were missing. Conglomerate Grasim was also spotted in the list.

Among the fund house favourites, Infosys replaced Reliance Industries. Infosys was the top held stock by five MFs -- HSBC, ING Vysya, Principal, Chola, and Deutsche. Meanwhile, Reliance Industries which was the favourite stock with nine MFs in June, was the top held stock with only four funds in July -- Pru ICICI, Reliance, DSP ML, and Standard Chartered.

BHEL also shared the second place being the most favourite stock with Tata, JM, Sahara, and Taurus. Meanwhile, Bharti Airtel, ITC, and Jaiprakash Associates [Get Quote] were the favourites with two MFs each.

	June		July
Mutual Fund	Stock	Value (in cr)	Stock	Value (in cr)
ABN AMRO	Reliance Ind	36.61	India Cements [Get Quote]	44.86
Birla	Bharti Airtel	121.95	Bharti Airtel	127.25
Canbank	Esab India [Get Quote]	14.19	BHEL	14.64
Chola	Infosys	13.22	Infosys	11.81
Deutsche	Infosys	11.69	Infosys	12.57
DSP ML	Reliance Ind	175.40	Reliance Ind	131.19
Escort	Reliance Ind	3.08	ACC	2.79
HDFC [Get Quote]	ITC	576.18	ITC	527.09
HSBC	Reliance Ind	188.01	Infosys	176.53
ING Vysya	Infosys	21.31	Infosys	18.23
JM	BHEL	8.86	BHEL	7.88
Kotak	M&M	58.78	ITC	51.12
PRINCIPAL	Infosys	74.54	Infosys	80.97
Pru ICICI	Reliance Ind	279.61	Reliance Ind	353.01
Quantum	Bajaj Auto [Get Quote]	1.05	Bajaj Auto	1.05
Reliance	Reliance Ind	713.09	Reliance Ind	658.61
Sahara	BHEL	3.10	BHEL	3.35
SBI	Reliance Ind	251.31	Crompton Greaves	231.11
StanChart	Reliance Ind	64.46	Reliance Ind	54.08
Sundaram	L&T	70.82	Jaiprakash Assc	71.28
Tata	BHEL	78.83	BHEL	81.81
Taurus	Jaiprakash Assc	46.09	Jaiprakash Assc	41.84
Templeton	Grasim	485.51	Grasim	520.69
UTI	Reliance Ind	608.95	Bharti Airtel	545.06

For more on mutual fund investments, log on to www.moneycontrol.com.