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Sectoral / Thematic · Kotak Mahindra Mutual Fund · AMFI code 151381Kotak Banking & Financial Services Fund
Disclosed for 3 months, Jul 2026 to Sep 2026.
Portfolio value
₹1,448 Cr
down ₹112 Cr vs Aug 2026
- Stocks held
- 35
- up 2 vs Aug 2026
- Top 10 weight
- 61.7%
- of the portfolio in its ten largest
- Cash & debt
- 1.2%
- cash, money market and debt
- Moves this month
- 3 in · 1 out
- added to 4, trimmed 28
Kotak Banking & Financial Services Fund is an active equity fund in the Sectoral / Thematic category from Kotak Mahindra Mutual Fund. In September 2026 it disclosed 35 stocks worth ₹1,448 Cr, down ₹112 Cr from Aug 2026. Its largest positions were ICICI Bank Limited (12.7%), HDFC Bank Limited (11.3%), State Bank of India (8.3%); the ten largest together made up 61.7% of the portfolio, and Banks was the biggest sector at 60.8% of its equity. Cash and debt stood at 1.2%. Compared with Aug 2026 the fund entered 3 new stocks and exited 1.
Against 229 other Sectoral / Thematic funds
Concentration
85%
Top-10 weight is higher than 85% of peers
Breadth
27%
Holds more stocks than 27% of peers
Cash
13%
Holds more cash than 13% of peers
What these mean: concentration · cash
Holdings in September 2026
Download CSVEvery line the fund disclosed, with the change against Aug 2026. Click a column to sort; click a company to see every fund that owns it. New to these? How to read a portfolio.
| ICICI Bank Limited | 12.67% | down 0.26 pts | ₹184 Cr | down ₹18.4 Cr | Trimmed |
| HDFC Bank Limited | 11.28% | up 1.38 pts | ₹163 Cr | up ₹8.8 Cr | Added |
| State Bank of India | 8.31% | down 0.21 pts | ₹120 Cr | down ₹12.6 Cr | Trimmed |
| Axis Bank Limited | 7.36% | up 0.12 pts | ₹107 Cr | down ₹6.4 Cr | Trimmed |
| Bajaj Finance Limited | 6.04% | down 0.14 pts | ₹87.5 Cr | down ₹8.9 Cr | Trimmed |
| Shriram Transport Finance Company Limited Shriram Finance Limited · history in this fund | 4.83% | down 0.23 pts | ₹69.9 Cr | down ₹9.1 Cr | Trimmed |
| Kotak Mahindra Bank Limited | 3.69% | up 0.25 pts | ₹53.5 Cr | down ₹31 L | Trimmed |
| Poonawalla Fincorp Limited | 2.52% | up 0.08 pts | ₹36.5 Cr | down ₹1.6 Cr | Trimmed |
| Cholamandalam Investment and Finance Company Limited | 2.52% | down 0.16 pts | ₹36.4 Cr | down ₹5.3 Cr | Trimmed |
| IndusInd Bank Limited | 2.51% | down 0.12 pts | ₹36.3 Cr | down ₹4.6 Cr | Trimmed |
| Ujjivan Small Finance Bank Limited | 2.40% | up 0.12 pts | ₹34.7 Cr | down ₹83 L | Trimmed |
| Karur Vysya Bank Limited | 2.32% | up 0.02 pts | ₹33.6 Cr | down ₹2.4 Cr | Trimmed |
| Billionbrains Garage Ventures Ltd | 2.27% | up 0.07 pts | ₹32.9 Cr | down ₹1.5 Cr | Trimmed |
| Bank of Maharashtra | 2.17% | up 0.09 pts | ₹31.4 Cr | down ₹1.1 Cr | Trimmed |
| BSE Limited | 2.11% | down 0.26 pts | ₹30.5 Cr | down ₹6.5 Cr | Trimmed |
| Indian Bank | 2.05% | down 0.07 pts | ₹29.7 Cr | down ₹3.4 Cr | Trimmed |
| The Jammu & Kashmir Bank Limited | 1.99% | up 0.02 pts | ₹28.9 Cr | down ₹1.9 Cr | Trimmed |
| DDB DEWAN HSG FINANCE CORPORATION LTD Piramal Finance Limited · history in this fund | 1.97% | down 0.09 pts | ₹28.5 Cr | down ₹3.6 Cr | Trimmed |
| L&T Finance Limited | 1.89% | down 0.23 pts | ₹27.4 Cr | down ₹5.8 Cr | Trimmed |
| SBI Funds Management Limited | 1.86% | down 0.07 pts | ₹27 Cr | down ₹3.2 Cr | Trimmed |
| SBI Life Insurance Company Limited | 1.86% | up 0.09 pts | ₹26.9 Cr | down ₹70 L | Trimmed |
| RBL Bank Limited | 1.76% | up 0.22 pts | ₹25.5 Cr | up ₹1.5 Cr | Added |
| Pine Labs Limited | 1.73% | up 1.73 pts | ₹25.1 Cr | up ₹25.1 Cr | New |
| Nuvama Wealth Management Limited | 1.72% | up 0.03 pts | ₹24.9 Cr | down ₹1.5 Cr | Trimmed |
| Nippon Life India Asset Management Limited | 1.72% | down 0.03 pts | ₹24.9 Cr | down ₹2.4 Cr | Trimmed |
| The South Indian Bank Limited | 1.51% | up 0.45 pts | ₹21.9 Cr | up ₹5.3 Cr | Added |
| Prudent Corporate Advisory Services Limited | 1.26% | down 0.11 pts | ₹18.2 Cr | down ₹3.2 Cr | Trimmed |
| One 97 Communications Limited | 1.25% | up 0.67 pts | ₹18.1 Cr | up ₹9 Cr | Added |
| Cash, TREPS & receivables | 1.18% | down 1.35 pts | ₹17.2 Cr | down ₹22.3 Cr | Trimmed |
| Max Financial Services Limited | 0.84% | down 0.01 pts | ₹12.2 Cr | down ₹1.1 Cr | Trimmed |
| Home First Finance Company India Limited | 0.76% | up 0.02 pts | ₹11 Cr | down ₹60 L | Trimmed |
| National Stock Exchange Of India Ltd | 0.73% | up 0.73 pts | ₹10.6 Cr | up ₹10.6 Cr | New |
| CRISIL Limited | 0.59% | up 0.59 pts | ₹8.5 Cr | up ₹8.5 Cr | New |
| Power Finance Corporation Limited | 0.26% | down 1.09 pts | ₹3.8 Cr | down ₹17.3 Cr | Trimmed |
| Computer Age Management Services Limited | 0.05% | down 0.78 pts | ₹71 L | down ₹12.2 Cr | Trimmed |
| The Federal Bank Limited | 0.01% | down <0.01 pts | ₹15 L | down ₹2 L | Trimmed |
What changed, Aug 2026 to Sep 2026
New New positions (3)
- Pine Labs Limited1.7% · ₹25.1 Cr
- National Stock Exchange Of India Ltd0.7% · ₹10.6 Cr
- CRISIL Limited0.6% · ₹8.5 Cr
Exited Exited (1)
- Aptus Value Housing Finance India Limitedwas 1.4% · ₹22.4 Cr
Added Biggest additions
- One 97 Communications Limitedup ₹9 Cr (+0.67% pts)
- HDFC Bank Limitedup ₹8.8 Cr (+1.38% pts)
Sectors
Which sectors the fund is moving towards and away from, and where its money sits now. Shares are of the fund’s classified equity holdings, so they add up to 100%.
Where the weight moved
Compared with
Since Aug 2026, the weight rose most in Financial Technology (fintech) (+2.4 pts) and Banks (+1.2 pts), and fell most in Finance (−3.1 pts) and Capital Markets (−0.6 pts).
- Financial Technology (fintech)0.6% → 3.0%+2.4 pts
- Banks59.6% → 60.8%+1.2 pts
- Finance24.7% → 21.6%−3.1 pts
- Capital Markets12.5% → 11.9%−0.6 pts
A sector’s weight changes when the fund buys or sells, and also when its shares rise or fall in price, so a change is not by itself a sign of buying or selling.
Main sectors’ weights over time
| Sector | Aug 2026 | Sep 2026 |
|---|---|---|
| Banks | 59.6% | 60.8% |
| Finance | 24.7% | 21.6% |
| Capital Markets | 12.5% | 11.9% |
| Financial Technology (fintech) | 0.6% | 3.0% |
| Insurance | 2.7% | 2.7% |
Allocation in Sep 2026change vs Aug 2026
- Banks (14)60.8%▲ 1.2 pts
- Finance (9)21.6%▼ 3.1 pts
- Capital Markets (8)11.9%▼ 0.6 pts
- Financial Technology (fintech) (2)3.0%▲ 2.4 pts
Cash and debt
The share of the portfolio not in shares: cash and net receivables, money-market instruments and bonds, as disclosed each month. Cash can dip below zero when payables, often on derivative positions, exceed it. A change here describes what the fund did; it is not a signal. More on reading cash.
Cash & debt, Sep 2026
1.2%
▼ 1.3 pts vs Aug 2026
- Cash alone
- 1.2%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 1.2% – 2.9%
- lowest to highest · record 2.9% in Jul 2026
History
Disclosed portfolio value by month, with the stocks the fund entered and exited against its previous disclosure. Every month is a link to that portfolio.