Synopsis: Suzlon Energy, Coforge, and three other stocks are four fundamentally strong stocks in which Vanguard has significant holdings value representing a fruitful holding in the company.
Vanguard is a worldwide investment company that is popular for its affordable mutual and index funds, which are the best instruments for people to increase their money in a financially sustainable way. As of the latest filings available, Vanguard Funds holds shares in 41 companies whose aggregate value is worth Rs 65,897 crore.
In this article, we will dive into the details of Vanguard’s top holdings in Indian midcap companies that belong to numerous sectors such as financial, IT, insurance, etc.
Suzlon Energy
Suzlon Energy Limited is a significant wind energy company focused on the sales and manufacture of wind turbine generators and components in India as well as global markets. Additionally, it carries out operations, maintenance, and project execution for wind projects. It also leases land, sells foundry and forging components, generates power, and conducts solar energy activities.
As of September 2025, Vanguard holds over 30 crore shares worth Rs 1,639.8 crore. This represents a total ownership of 2.2 percent of the total equity shares in the company.
Coforge
Coforge Limited is an IT solutions company based in India, specializing in a range of services like application development, managed services, cloud computing, and business process outsourcing. They offer programming consultancy and have a global presence, serving clients across the Americas, Europe, the Middle East & Africa, Asia Pacific, and India.
As of September 2025, Vanguard holds over 89.64 lakh shares worth Rs 1,572.9 crore. This represents a total ownership of 2.7 percent of the total equity shares in the company.
Max Financial Services
Max Financial Services Limited, through this subsidiary, offers investment and management advisory services in India. Its core business focus is in the life insurance sector and offers participating, non-participating, and linked products for life, health, and pension benefits for individuals and groups, along with rider provisions. The company has a network of distribution with agents, banks, brokers, and others.
As of September 2025, Vanguard holds over 72.73 lakh shares worth Rs 1,114.1 crore. This represents a total ownership of 2.1 percent of the total equity shares in the company.
PB Fintech
PB Fintech Limited, established in 2008 with headquarters in Gurugram, India, runs online platforms for insurance and lending. Its key platforms are Policybazaar, for insurance comparison and purchase, and Paisabazaar, for loans and credit products. The organization also provides healthcare support, marketing, consulting, claims support, and distribution of insurance services in India and internationally.
As of September 2025, Vanguard holds over 49.08 lakh shares worth Rs 819.5 crore. This represents a total ownership of 1.1 percent of the total equity shares in the company.
Federal Bank
Federal Bank is a leading private sector bank in India offering deposits, loans, insurance, and digital banking services. It provides personal, home, car, and gold loans, along with business and SME financing. The bank also offers internet, mobile, and wealth management services. With a wide branch and ATM network, it serves both retail and corporate customers, including NRIs.
As of September 2025, Vanguard holds over 2.61 crore shares worth Rs 596.1 crore. This represents a total ownership of 1.1 percent of the total equity shares in the company.
Written by Satyajeet Mukherjee
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