Kotak Contra Fund

Kotak Mutual Fund·Contra Fund·vs Nifty 500 TRI

Kotak Contra remains heavily positioned in financial services, with banks and finance commanding over a third of the portfolio, suggesting conviction in valuation opportunities within the sector despite near-term headwinds. The manager's recent activity—trimming IT exposure while adding micro-cap picks in defence and niche finance—signals a cautious shift toward overlooked pockets rather than broad-based optimism. Modest monthly gains alongside concentrated positioning indicate patience for deeper correction in core holdings before aggressively deploying the minimal cash buffer.

Portfolio analysis · April 2026

NAV & Returns

Plan	NAV	1M	3M	6M	1Y	3Y CAGR	5Y CAGR
Direct Growth	₹173.7430	-0.00%	—	—	—	—	—
Regular Growth	₹145.8020	-0.10%	-6.33%	-5.73%	+1.95%	+17.49%	+16.02%
Direct IDCW	₹61.8260	-0.00%	—	—	—	—	—
Regular IDCW	₹50.2570	-0.11%	—	—	—	—	—

Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.

Portfolio Metrics(latest month)

Holdings

Top 5 Weight

19.97%

Top 10 Weight

32.91%

Active Share

—

Large Cap

54.72%

Gini

0.282

What Changed2026-03-31 → 2026-04-30

Holdings: 63 → 62+3 added−4 removed25 weight shifts ≥ 0.1%

Stock	Sector	Weight
ASTRA MICROWAVE PRODUCTS LTD.	Aerospace and Defense	1.04%
JAMMU KASHMIR BANK LTD	Banks	1.00%
Power Finance Corporation Ltd.	Finance	0.96%

Full Holdings

#	Holding	Sector	Class	% to NAV
1	HDFC BANK LTD. INE040A01034	Banks	EQUITY	5.61%
2	ICICI BANK LTD. INE090A01021	Banks	EQUITY	4.52%
3	STATE BANK OF INDIA. INE062A01020	Banks	EQUITY	3.63%
4	RELIANCE INDUSTRIES LTD. INE002A01018	Petroleum Products	EQUITY	3.28%
5	NTPC LTD INE733E01010	Power	EQUITY	2.93%
6	Larsen and Toubro Ltd. INE018A01030	Construction	EQUITY	2.69%
7	BHARTI AIRTEL LTD. INE397D01024	Telecom - Services	EQUITY	2.63%
8	Hero MotoCorp Ltd. INE158A01026	Automobiles	EQUITY	2.62%
9	SHRIRAM FINANCE LIMITED INE721A01047	Finance	EQUITY	2.61%
10	Fortis Healthcare India Ltd INE061F01013	Healthcare Services	EQUITY	2.39%
11	Maruti Suzuki India Limited INE585B01010	Automobiles	EQUITY	2.35%
12	AXIS BANK LTD. INE238A01034	Banks	EQUITY	2.15%
13	Tech Mahindra Ltd. INE669C01036	IT - Software	EQUITY	2.09%
14	Mphasis Ltd INE356A01018	IT - Software	EQUITY	2.00%
15	POONAWALLA FINCORP LIMITED INE511C01022	Finance	EQUITY	1.98%
16	Ultratech Cement Ltd. INE481G01011	Cement and Cement Products	EQUITY	1.97%
17	BAJAJ FINANCE LTD. INE296A01032	Finance	EQUITY	1.97%
18	PARK MEDI WORLD LIMITED (PARK HOSPITAL) INE119201023	Healthcare Services	EQUITY	1.90%
19	SWIGGY LTD INE00H001014	Retailing	EQUITY	1.84%
20	Infosys Ltd. INE009A01021	IT - Software	EQUITY	1.81%

Sector Allocation

Banks22.8%

Finance10.2%

Healthcare Services6.5%

IT - Software5.9%

Automobiles5.0%

Pharmaceuticals and Biotechnology4.5%

Telecom - Services4.1%

Construction3.8%

Petroleum Products3.6%

Cement and Cement Products3.4%

Top 10 sectors by % to NAV. Excludes derivatives.