Myriad Exits HDB, Dumps 49,580 Shares

Key Points

• Shares decreased by 49,580; the transaction was valued at $3.29 million.

• This trade represented 2.2% of 13F reportable AUM for the quarter ended Q2 2025.

• Exit reduced the number of holdings to 36, with no remaining exposure to HDFC Bank.

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What happened

Myriad Asset Management US LP disclosed in a July 10, 2025, SEC filing that it fully divested from HDFC Bank Limited (NYSE:HDB) in Q2 2025. The fund sold all 49,580 shares previously held, realizing a transaction value of $3.29 million. As of June 30, the position was no longer listed among the firm’s reportable U.S. equity holdings.

What else to know

The firm sold out of HDFC Bank Limited. Myriad Asset Management's top five holdings after the filing (as of June 30, 2025):

1. iShares MSCI Emerging Markets Ex China ETF (EMXC): $79.53 million (52.7% of AUM).
2. iShares Core MSCI Emerging Markets ETF (IEMG): $57.92 million (38.4% of AUM).
3. Vanguard International Equity Index Funds (VEU): $38.86 million (25.7% of AUM).
4. Taiwan Semiconductor Manufacturing (TSM): $12.92 million (8.6% of AUM).
5. MercadoLibre (MELI): $8.53 million (5.6% of AUM).

Other facts to know about HDFC Bank:

• HDFC Bank stock closed at $76.01 on July 14, up 25.8% over the past year, outperforming the S&P 500 by 14.3 percentage points.
• The dividend yield was 1.02% as of July 14, 2025; forward P/E ratio stood at 23.7x.
• The stock was 2.3% below its 52-week high as of July 14, 2025.

Company overview

Note: TTM data as of March 31, 2025.

Company snapshot

• Offers a comprehensive suite of banking and financial services, including deposits, loans, cards, payment solutions, and investment products across retail and wholesale segments.
• Provides banking and financial services in treasury, retail, and wholesale banking, leveraging an extensive physical distribution network.
• Serves individuals and businesses across India and select international markets.

HDFC Bank Limited is a leading private sector bank in India operating at significant scale, with over 9,400 branches and more than 21,000 ATMs across the nation as of March 31, 2025. The bank's strategy centers on diversified financial services, robust risk management, and digital innovation to drive sustainable growth. Its extensive reach and comprehensive product suite provide a strong competitive edge in the rapidly evolving Indian financial sector.

Foolish take

Shares of HDFC Bank are on fire, rallying 18.4% so far in 2025 and 25% over the past year. With the bank stock recently hitting a 52-week high of $78.14 per share and trading at levels last seen in 2021, investors appear to be taking some profits off the table.

A solid macroeconomic environment and business growth are buoying HDFC Bank stock. For its fourth quarter of fiscal 2025, the bank reported 10% growth in net interest income. Its average deposits surged 15.8% while gross advances rose 5.4% year over year, driven by strong growth in retail, commercial, and rural banking loans.

Notably, except for its brokerage firm, all of HDFC Bank’s other subsidiaries also reported strong growth in Q4. They include a non-banking financial arm, life and general insurance businesses, and an asset management company.

The Reserve Bank of India slashed the repo rate for the third consecutive time in June, and it was an unexpectedly high cut of 50 basis points. That drove Indian banking stocks even higher, especially shares of large lenders like HDFC Bank that can make the most of the rate cuts to grow their loan books.

Glossary

• 13F reportable assets: Investment holdings that institutional managers must disclose quarterly to the SEC under Form 13F.
• Assets under management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
• Divested: The process of selling off an asset or investment position, often to exit exposure to a security.
• Exposure: The degree to which a portfolio is affected by changes in the value of a particular asset or market.
• Dividend yield: Annual dividends per share divided by the share price, expressed as a percentage.
• Forward P/E: Price-to-earnings ratio using forecasted earnings, indicating how much investors pay for expected future profits.
• Physical distribution network: The network of physical branches and outlets a bank uses to deliver services to customers.
• Wholesale banking: Banking services provided to large organizations, corporations, or government agencies, not individual consumers.
• Treasury (banking): The division of a bank managing liquidity, funding, and financial risk, often through investments and trading.
• Reportable U.S. equity holdings: U.S. stock positions that institutional investors are required to disclose in regulatory filings.
• Private sector bank: A bank owned by private individuals or companies, not controlled by the government.
• TTM (Trailing 12 Months): Financial data calculated for the most recent 12 consecutive months, used to assess performance trends.
  

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Neha Chamaria has positions in HDFC Bank. The Motley Fool has positions in and recommends MercadoLibre and Taiwan Semiconductor Manufacturing. The Motley Fool recommends HDFC Bank. The Motley Fool has a disclosure policy.