Kotak Services Fund
Kotak Mutual Fund·Sectoral / Thematic·vs Nifty 500 TRI
The Kotak Services Fund heavily concentrates on financial intermediaries and utilities, with banks alone representing nearly a third of the portfolio. The manager is signaling a tactical shift by deploying excess cash into infrastructure and IT stocks—adding multiple software names and power companies—while trimming repo exposure, suggesting confidence in equities over short-term instruments. This repositioning reflects conviction in cyclical recovery and quality discretionary names despite maintaining a concentrated bet on domestic banking strength.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Regular Growth | ₹9.7800 | -4.06% | — | — | — | — | — |
Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.
Portfolio Metrics(latest month)
Holdings
33
Top 5 Weight
45.52%
Top 10 Weight
66.15%
Active Share
—
Large Cap
75.64%
Gini
0.599
What Changed2026-03-31 → 2026-04-30
Holdings: 22 → 35+13 added−0 removed14 weight shifts ≥ 0.1%
| Stock | Weight |
|---|---|
| Infosys Ltd. | 4.32% |
| HCL Technologies Ltd. | 2.86% |
| TATA CONSULTANCY SERVICES LTD. | 1.33% |
| BANK OF BARODA | 0.71% |
| NTPC LTD | 0.70% |
| Ujjivan Small Finance Bank Ltd. | 0.63% |
| HDFC ASSET MANAGEMENT COMPANY LTD. | 0.62% |
| BANDHAN BANK LIMITED | 0.39% |
| R R KABEL LTD | 0.22% |
| EQUITAS SMALL FINANCE BANK LTD. | 0.14% |
| HONASA CONSUMER LTD. | 0.07% |
| KOTAK NIFTY 200 MOMENTUM 30 ETF | 0.05% |
| KOTAK NIFTY 100 LOW VOLATILITY 30 ETF | 0.01% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | STATE BANK OF INDIA. INE062A01020 | 9.86% |
| 2 | AXIS BANK LTD. INE238A01034 | 9.72% |
| 3 | ICICI BANK LTD. INE090A01021 | 9.60% |
| 4 | Triparty Repo | 8.29% |
| 5 | Power Grid Corporation of India Ltd. INE752E01010 | 8.19% |
| 6 | BHARTI AIRTEL LTD. INE397D01024 | 8.15% |
| 7 | Net Current Assets/(Liabilities) | 6.54% |
| 8 | CNX BANK INDEX-MAY2026 | 5.90%(der) |
| 9 | TITAN COMPANY LTD. INE280A01028 | 4.54% |
| 10 | Infosys Ltd. INE009A01021 | 4.32% |
| 11 | Max Healthcare Institute Ltd. INE027H01010 | 4.30% |
| 12 | PNB HOUSING FINANCE LTD. INE572E01012 | 3.85% |
| 13 | BAJAJ FINANCE LTD. INE296A01032 | 3.62% |
| 14 | HCL Technologies Ltd. INE860A01027 | 2.86% |
| 15 | Tech Mahindra Ltd. INE669C01036 | 2.33% |
| 16 | SHRIRAM FINANCE LIMITED INE721A01047 | 1.93% |
| 17 | HDFC BANK LTD. INE040A01034 | 1.69% |
| 18 | TATA CONSULTANCY SERVICES LTD. INE467B01029 | 1.33% |
| 19 | ANGEL ONE LIMITED INE732I01021 | 1.22% |
| 20 | United Spirits Ltd INE854D01024 | 1.21% |
Sector Allocation
Banks32.7%
IT - Software10.8%
Finance9.4%
Power8.9%
Telecom - Services8.2%
Consumer Durables5.0%
Healthcare Services4.3%
Capital Markets3.0%
Beverages1.2%
Retailing0.5%
Top 10 sectors by % to NAV. Excludes derivatives.