WhiteOak Capital Banking & Financial Services Fund
The fund maintains aggressive conviction in large-cap private banks, with ICICI and HDFC commanding over 24% combined, positioning the portfolio for sustained credit growth and premiumization in financial services. The manager is selectively diversifying within the broader financial ecosystem—adding life insurance and non-bank lenders while trimming smaller players—signaling confidence in quality franchises and structural tailwinds in consumer finance. High concentration (55.5% in top 10) reflects a best-ideas approach, accepting significant single-stock risk for perceived alpha generation in a secular banking cycle.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹12.6550 | — | — | — | — | — | — |
| Regular Growth | ₹12.1720 | -1.23% | -7.38% | -5.94% | +1.48% | — | — |
Portfolio Metrics(latest month)
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| HDFC Life Insurance Company Limited | 0.72% |
| Aye Finance Limited | 0.65% |
| IndusInd Bank Limited | 0.54% |
| 360 One WAM Limited | 0.25% |
| Onemi Technology Solutions Limited | 1.01% |
| 182 Days Tbill (MD 09/07/2026) | 0.33% |
| 182 Days Tbill (MD 18/06/2026) | 0.07% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | ICICI Bank Limited INE090A01021 | 12.40% |
| 2 | HDFC Bank Limited INE040A01034 | 11.81% |
| 3 | Kotak Mahindra Bank Limited INE237A01036 | 6.95% |
| 4 | State Bank of India INE062A01020 | 4.61% |
| 5 | Bajaj Finance Limited INE296A01032 | 3.77% |
| 6 | Axis Bank Limited INE238A01034 | 3.69% |
| 7 | Clearing Corporation of India Ltd | 3.33% |
| 8 | Shriram Finance Limited INE721A01047 | 3.17% |
| 9 | Bajaj Finserv Limited INE918I01026 | 3.09% |
| 10 | PNB Housing Finance Limited INE572E01012 | 2.66% |
| 11 | Multi Commodity Exchange of India Limited INE745G01043 | 2.34% |
| 12 | Ujjivan Small Finance Bank Limited INE551W01018 | 2.30% |
| 13 | Five Star Business Finance Limited INE128S01021 | 2.28% |
| 14 | Aditya Birla Capital Limited INE674K01013 | 2.06% |
| 15 | Repco Home Finance Limited INE612J01015 | 2.06% |
| 16 | City Union Bank Limited INE491A01021 | 2.05% |
| 17 | Max Financial Services Limited INE180A01020 | 2.00% |
| 18 | PB Fintech Limited INE417T01026 | 1.68% |
| 19 | Canara HSBC Life Insurance company Ltd INE01TY01017 | 1.62% |
| 20 | Power Finance Corporation Limited INE134E01011 | 1.59% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.