HDFC Banking and Financial Services Fund
The fund remains heavily concentrated in large-cap banking with nearly 62% in banks and a top-5 concentration exceeding half the portfolio, betting on sustained credit growth and financial deepening in India. Recent portfolio tweaks—trimming HDFC and ICICI while adding smaller finance players and fintech exposure—suggest the manager is rotating toward underpenetrated lending segments and emerging financial services, though the core conviction in tier-one banks remains unchanged. The minimal cash position and tight focus indicate confidence in the banking and financial services story but limited downside protection.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Primary | ₹17.0480 | -2.28% | +2.19% | +12.95% | — |
Portfolio Metrics(latest month)
vs Category Peers
Highly DifferentiatedActive Share = ½Σ|wfund − wpeer|, computed using leave-one-out peer portfolio within SEBI category.
Similar Funds in Category
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| Poonawalla Fincorp Ltd | 1.29% |
| OnEMI Technology Solutions Limited | 0.59% |
| Indian Bank | 0.42% |
| Bombay Stock Exchange Limited (BSE) | 0.29% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | HDFC Bank Ltd.£ INE040A01034 | 14.92% |
| 2 | ICICI Bank Ltd. INE090A01021 | 13.23% |
| 3 | Axis Bank Ltd. INE238A01034 | 8.38% |
| 4 | Kotak Mahindra Bank Limited INE237A01036 | 7.75% |
| 5 | State Bank of India INE062A01020 | 6.85% |
| 6 | Shriram Finance Ltd. INE721A01047 | 4.60% |
| 7 | Bajaj Finance Ltd. INE296A01032 | 3.91% |
| 8 | SBI Life Insurance Company Ltd. INE123W01016 | 3.21% |
| 9 | Au Small Finance Bank Ltd. INE949L01017 | 3.02% |
| 10 | Five-Star Business Finance Limited INE128S01021 | 2.51% |
| 11 | Karur Vysya Bank Ltd. INE036D01028 | 2.20% |
| 12 | ICICI Lombard General Insurance Co INE765G01017 | 2.12% |
| 13 | Billionbrains Garage Ventures Limited (Groww) INE0HOQ01053 | 2.07% |
| 14 | CanFin Homes Ltd. INE477A01020 | 2.05% |
| 15 | Angel One Ltd. INE732I01021 | 2.01% |
| 16 | Home First Finance Company India Ltd INE481N01025 | 1.86% |
| 17 | Equitas Small Finance Bank Ltd INE063P01018 | 1.64% |
| 18 | Max Financial Services Ltd. INE180A01020 | 1.63% |
| 19 | TREPS - Tri-party Repo | 1.63% |
| 20 | Indusind Bank Ltd. INE095A01012 | 1.61% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does HDFC Banking and Financial Services Fund hold?
HDFC Banking and Financial Services Fund holds 33 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 51.13% of NAV.
What is the largest holding in HDFC Banking and Financial Services Fund?
The largest position in HDFC Banking and Financial Services Fund is HDFC Bank Ltd.£, accounting for 14.92% of NAV in the Banks sector.
Is HDFC Banking and Financial Services Fund a concentrated or diversified fund?
With a Gini coefficient of 0.518, HDFC Banking and Financial Services Fund is moderately concentrated. The HHI concentration index is 68,492 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 51.13% of the portfolio.
What is the market cap allocation of HDFC Banking and Financial Services Fund?
Based on SEBI's AMFI classification, HDFC Banking and Financial Services Fund's equity portfolio is split as: Large Cap: 58.54%, Mid Cap: 13.45%, Small Cap: 16.05%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does HDFC Banking and Financial Services Fund invest in most?
HDFC Banking and Financial Services Fund has the highest allocation to Banks (61.58%), Finance (22.41%), Insurance (7.63%). The fund is invested across 5 sectors in total.
How actively managed is HDFC Banking and Financial Services Fund compared to other Sectoral / Thematic funds?
HDFC Banking and Financial Services Fund has an Active Share of 83.48%, classifying it as "Highly Differentiated" among 237 Sectoral / Thematic peers. This means the fund takes significantly different stock positions compared to its category peers.
What changed in HDFC Banking and Financial Services Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, HDFC Banking and Financial Services Fund added 4 new stocks (including Poonawalla Fincorp Ltd) and exited 1 stock (including Multi Commodity Exchange of India L). Total holding count increased from 32 to 35 stocks.