SBI Banking & Financial Services Fund
SBI Mutual Fund·Sectoral / Thematic·vs Nifty 500 TRI
The fund maintains a fortress position in large-cap banks, which command over half the portfolio, signaling conviction in financial sector resilience and dividend potential. The recent rebalancing—trimming ICICI while raising State Bank exposure and adding smaller housing finance players—suggests a shift toward undervalued, domestically-focused lenders as rate cycles normalize. With 70% concentrated in just ten holdings and cash near 8%, the manager is calibrated for selective opportunity rather than broad financial sector rotation.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹47.4770 | — | — | — | — | — | — |
| Regular Growth | ₹42.1676 | -2.61% | -8.96% | -6.63% | +4.27% | +16.57% | +13.88% |
Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.
Portfolio Metrics(latest month)
Holdings
35
Top 5 Weight
45.90%
Top 10 Weight
65.44%
Active Share
—
Large Cap
60.82%
Gini
0.541
What Changed2026-03-31 → 2026-04-30
Holdings: 36 → 37+3 added−2 removed15 weight shifts ≥ 0.1%
| Stock | Weight |
|---|---|
| Computer Age Management Services Ltd. | 1.27% |
| Aavas Financiers Ltd. | 0.18% |
| RBL Bank Ltd. | 0.14% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | ICICI Bank Ltd. INE090A01021 | 12.87% |
| 2 | Kotak Mahindra Bank Ltd. INE237A01036 | 9.96% |
| 3 | State Bank of India INE062A01020 | 9.61% |
| 4 | Axis Bank Ltd. INE238A01034 | 7.35% |
| 5 | TREPS | 7.12% |
| 6 | HDFC Bank Ltd. INE040A01034 | 6.11% |
| 7 | Bajaj Finserv Ltd. INE918I01026 | 5.75% |
| 8 | Muthoot Finance Ltd. INE414G01012 | 4.54% |
| 9 | HDFC Life Insurance Company Ltd. INE795G01014 | 3.51% |
| 10 | SBI Life Insurance Co. Ltd. INE123W01016 | 3.20% |
| 11 | Bajaj Finance Ltd. INE296A01032 | 2.54% |
| 12 | Angel One Ltd. INE732I01021 | 2.41% |
| 13 | ICICI Prudential Life Insurance Company Ltd. INE726G01019 | 2.25% |
| 14 | Cholamandalam Investment & Finance Co. Ltd. INE121A01024 | 2.11% |
| 15 | Aptus Value Housing Finance India Ltd. INE852O01025 | 1.86% |
| 16 | Margin amount for Derivative positions | 1.72% |
| 17 | Star Health & Allied Insurance Co. Ltd. INE575P01011 | 1.68% |
| 18 | Cholamandalam Financial Holdings Ltd. INE149A01033 | 1.63% |
| 19 | Bank of Baroda INE028A01039 | 1.63% |
| 20 | Canara Bank INE476A01022 | 1.60% |
Sector Allocation
Banks51.1%
Finance22.6%
Insurance11.3%
Capital Markets6.2%
Financial Technology (Fintech)0.5%
Sovereign0.1%
Top 10 sectors by % to NAV. Excludes derivatives.