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Sectoral / Thematic · Kotak Mahindra Mutual Fund · AMFI code 148602Kotak ESG Exclusionary Strategy Fund
Disclosed for 3 months, Jul 2026 to Sep 2026.
Portfolio value
₹685 Cr
down ₹55.9 Cr vs Aug 2026
- Stocks held
- 45
- down 2 vs Aug 2026
- Top 10 weight
- 50.0%
- of the portfolio in its ten largest
- Cash & debt
- 0.7%
- cash, money market and debt
- Moves this month
- 1 in · 3 out
- added to 5, trimmed 38
Kotak ESG Exclusionary Strategy Fund is an active equity fund in the Sectoral / Thematic category from Kotak Mahindra Mutual Fund. In September 2026 it disclosed 45 stocks worth ₹685 Cr, down ₹55.9 Cr from Aug 2026. Its largest positions were Bharti Airtel Limited (7.7%), ICICI Bank Limited (6.9%), HDFC Bank Limited (5.3%); the ten largest together made up 50.0% of the portfolio, and Banks was the biggest sector at 23.0% of its equity. Cash and debt stood at 0.7%. Compared with Aug 2026 the fund entered 1 new stock and exited 3.
Against 229 other Sectoral / Thematic funds
Concentration
59%
Top-10 weight is higher than 59% of peers
Breadth
55%
Holds more stocks than 55% of peers
Cash
9%
Holds more cash than 9% 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.
| Bharti Airtel Limited | 7.70% | up 0.36 pts | ₹52.7 Cr | down ₹1.6 Cr | Trimmed |
| ICICI Bank Limited | 6.95% | down 0.12 pts | ₹47.6 Cr | down ₹4.8 Cr | Trimmed |
| HDFC Bank Limited | 5.28% | up 0.40 pts | ₹36.1 Cr | down ₹2 L | Held |
| Axis Bank Limited | 4.83% | up 0.09 pts | ₹33.1 Cr | down ₹2 Cr | Trimmed |
| Larsen & Toubro Limited | 4.45% | up 0.02 pts | ₹30.5 Cr | down ₹2.3 Cr | Trimmed |
| Infosys Limited | 4.36% | down 0.24 pts | ₹29.8 Cr | down ₹4.2 Cr | Trimmed |
| Eternal Limited | 4.21% | up 0.22 pts | ₹28.8 Cr | down ₹73 L | Trimmed |
| Bajaj Finance Limited | 4.20% | down 0.08 pts | ₹28.8 Cr | down ₹2.9 Cr | Trimmed |
| Bosch Limited | 4.13% | up 0.08 pts | ₹28.3 Cr | down ₹1.7 Cr | Trimmed |
| Shriram Transport Finance Company Limited Shriram Finance Limited · history in this fund | 3.87% | down 0.17 pts | ₹26.5 Cr | down ₹3.4 Cr | Trimmed |
| UltraTech Cement Limited | 3.84% | up 0.13 pts | ₹26.3 Cr | down ₹1.2 Cr | Trimmed |
| State Bank of India | 3.78% | down 0.08 pts | ₹25.9 Cr | down ₹2.7 Cr | Trimmed |
| Linde India Limited | 3.32% | up 0.22 pts | ₹22.8 Cr | down ₹23 L | Trimmed |
| Hero MotoCorp Limited | 2.64% | up 0.10 pts | ₹18.1 Cr | down ₹72 L | Trimmed |
| Godrej Consumer Products Limited | 2.23% | up 0.04 pts | ₹15.3 Cr | down ₹92 L | Trimmed |
| Metropolis Healthcare Limited | 2.14% | up 0.01 pts | ₹14.6 Cr | down ₹1.1 Cr | Trimmed |
| Avenue Supermarts Limited | 2.00% | up 0.10 pts | ₹13.7 Cr | down ₹35 L | Trimmed |
| Tata Consultancy Services Limited | 1.98% | down 0.16 pts | ₹13.5 Cr | down ₹2.3 Cr | Trimmed |
| GlaxoSmithKline Pharmaceuticals Limited | 1.82% | down 0.03 pts | ₹12.5 Cr | down ₹1.3 Cr | Trimmed |
| Siemens Limited | 1.80% | down <0.01 pts | ₹12.3 Cr | down ₹1 Cr | Trimmed |
| Ambuja Cements Limited | 1.64% | up 0.01 pts | ₹11.2 Cr | down ₹81 L | Trimmed |
| Power Finance Corporation Limited | 1.57% | up 0.07 pts | ₹10.7 Cr | down ₹36 L | Trimmed |
| Britannia Industries Limited | 1.55% | down 0.01 pts | ₹10.6 Cr | down ₹92 L | Trimmed |
| Vishal Mega Mart Limited | 1.47% | down 0.02 pts | ₹10.1 Cr | down ₹96 L | Trimmed |
| Indus Towers Limited | 1.21% | up 0.04 pts | ₹8.3 Cr | down ₹35 L | Trimmed |
| SRF Limited | 1.19% | up 0.05 pts | ₹8.2 Cr | down ₹29 L | Trimmed |
| Abbott India Limited | 1.19% | up 0.14 pts | ₹8.1 Cr | up ₹38 L | Added |
| Hindustan Unilever Limited | 1.10% | up 0.04 pts | ₹7.5 Cr | down ₹35 L | Trimmed |
| Indian Bank | 1.06% | down 0.03 pts | ₹7.3 Cr | down ₹84 L | Trimmed |
| Schaeffler India Limited | 1.02% | up 0.12 pts | ₹7 Cr | up ₹34 L | Added |
| Shoppers Stop Limited | 0.97% | up 0.14 pts | ₹6.6 Cr | up ₹50 L | Added |
| Tech Mahindra Limited | 0.96% | up 0.01 pts | ₹6.6 Cr | down ₹45 L | Trimmed |
| Mahindra & Mahindra Limited | 0.95% | down 0.03 pts | ₹6.5 Cr | down ₹73 L | Trimmed |
| Apollo Tyres Limited | 0.89% | down <0.01 pts | ₹6.1 Cr | down ₹51 L | Trimmed |
| Maruti Suzuki India Limited | 0.87% | down 0.04 pts | ₹6 Cr | down ₹79 L | Trimmed |
| GAIL (India) Limited | 0.83% | up 0.33 pts | ₹5.7 Cr | up ₹2 Cr | Added |
| Bank of Baroda | 0.76% | up 0.03 pts | ₹5.2 Cr | down ₹18 L | Trimmed |
| HCL Technologies Limited | 0.72% | up 0.01 pts | ₹4.9 Cr | down ₹33 L | Trimmed |
| Cash, TREPS & receivables | 0.71% | down 1.24 pts | ₹4.8 Cr | down ₹9.6 Cr | Trimmed |
| Kotak Bluechip Fund - Direct Growth Fund units | 0.62% | up 0.05 pts | ₹4.3 Cr | up ₹2 L | Held |
| CRISIL Limited | 0.59% | up 0.45 pts | ₹4 Cr | up ₹3 Cr | Added |
| V-Mart Retail Limited | 0.50% | down 0.02 pts | ₹3.4 Cr | down ₹42 L | Trimmed |
| Biocon Limited | 0.49% | down 0.01 pts | ₹3.3 Cr | down ₹38 L | Trimmed |
| JK Cement Limited | 0.44% | up 0.03 pts | ₹3 Cr | down ₹3 L | Trimmed |
| Balrampur Chini Mills Limited | 0.44% | up 0.01 pts | ₹3 Cr | down ₹14 L | Trimmed |
| TeamLease Services Limited | 0.41% | down 0.01 pts | ₹2.8 Cr | down ₹33 L | Trimmed |
| Reliance Industries Limited | 0.35% | up 0.35 pts | ₹2.4 Cr | up ₹2.4 Cr | New |
What changed, Aug 2026 to Sep 2026
New New positions (1)
- Reliance Industries Limited0.3% · ₹2.4 Cr
Exited Exited (3)
- Bharat Petroleum Corporation Limitedwas 0.7% · ₹4.9 Cr
- Hindustan Petroleum Corporation Limitedwas 0.4% · ₹3.3 Cr
- APL Apollo Tubes Limitedwas 0.3% · ₹2 Cr
Added Biggest additions
- CRISIL Limitedup ₹3 Cr (+0.45% pts)
- GAIL (India) Limitedup ₹2 Cr (+0.33% 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 Gas (+0.3 pts) and Retailing (+0.3 pts), and fell most in Petroleum Products (−0.8 pts) and IT - Software (−0.5 pts).
- Gas0.5% → 0.8%+0.3 pts
- Retailing8.9% → 9.3%+0.3 pts
- Telecom - Services8.7% → 9.0%+0.3 pts
- Chemicals & Petrochemicals4.4% → 4.6%+0.2 pts
- Finance10.2% → 10.4%+0.2 pts
- Auto Components6.0% → 6.1%+0.1 pts
- Petroleum Products1.1% → 0.4%−0.8 pts
- IT - Software8.6% → 8.1%−0.5 pts
- Industrial Products0.3% → 0.0%exited−0.3 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 | 22.9% | 23.0% |
| Finance | 10.2% | 10.4% |
| Retailing | 8.9% | 9.3% |
| Telecom - Services | 8.7% | 9.0% |
| IT - Software | 8.6% | 8.1% |
| Auto Components | 6.0% | 6.1% |
| Cement & Cement Products | 5.9% | 6.0% |
| Chemicals & Petrochemicals | 4.4% | 4.6% |
| Automobiles | 4.5% | 4.5% |
| Construction | 4.5% | 4.5% |
Allocation in Sep 2026change vs Aug 2026
- Banks (6)23.0%
- Finance (4)10.4%▲ 0.2 pts
- Retailing (5)9.3%▲ 0.3 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
0.7%
▼ 1.2 pts vs Aug 2026
- Cash alone
- 0.7%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 0.7% – 3.4%
- lowest to highest · record 3.4% 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.