Kotak Banking & Financial Services Fund
The fund maintains aggressive exposure to India's banking oligopoly, with the big four banks commanding nearly 41 percent of assets, signaling conviction in their structural resilience and dividend potential. The concentrated 65 percent weighting in top-10 holdings reflects a quality-over-breadth approach, though the modest addition to Power Finance Corporation and exit from insurance suggest the manager is rebalancing within financial services rather than dramatically shifting thesis. Cash minimization and tight sector focus indicate confidence in banking-led growth, though concentrated bets amplify downside risk during sector corrections.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹15.9910 | — | — | — | — | — | — |
| Regular Growth | ₹15.2130 | -1.95% | -7.99% | -5.19% | +1.66% | +11.89% | — |
| Direct IDCW | ₹15.9890 | — | — | — | — | — | — |
| Regular IDCW | ₹15.2130 | — | — | — | — | — | — |
Portfolio Metrics(latest month)
What Changed2026-03-31 → 2026-04-30
| Stock | Weight | |
|---|---|---|
| No new entries this month | ||
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | HDFC BANK LTD. INE040A01034 | 12.92% |
| 2 | ICICI BANK LTD. INE090A01021 | 11.26% |
| 3 | STATE BANK OF INDIA. INE062A01020 | 9.27% |
| 4 | AXIS BANK LTD. INE238A01034 | 7.96% |
| 5 | BAJAJ FINANCE LTD. INE296A01032 | 5.91% |
| 6 | SHRIRAM FINANCE LIMITED INE721A01047 | 4.61% |
| 7 | BSE LTD INE118H01025 | 4.38% |
| 8 | KOTAK MAHINDRA BANK LTD. INE237A01036 | 3.40% |
| 9 | Triparty Repo | 2.61% |
| 10 | BANK OF MAHARASHTRA INE457A01014 | 2.38% |
| 11 | POONAWALLA FINCORP LIMITED INE511C01022 | 2.37% |
| 12 | INDUSIND BANK LTD. INE095A01012 | 2.36% |
| 13 | Nippon Life Asset Management Ltd INE298J01013 | 2.34% |
| 14 | Power Finance Corporation Ltd. INE134E01011 | 2.34% |
| 15 | Ujjivan Small Finance Bank Ltd. INE551W01018 | 2.02% |
| 16 | SBI Life Insurance Company Ltd INE123W01016 | 1.99% |
| 17 | BANK OF BARODA INE028A01039 | 1.95% |
| 18 | KARUR VYSYA BANK LTD. INE036D01028 | 1.87% |
| 19 | CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LTD. INE121A01024 | 1.78% |
| 20 | APTUS VALUE HOUSING FINANCE INE852O01025 | 1.62% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.