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Value / Contra · Kotak Mahindra Mutual Fund · AMFI code 103039Kotak Contra Fund
Disclosed for 3 months, Jul 2026 to Sep 2026.
Portfolio value
₹5,196 Cr
down ₹315 Cr vs Aug 2026
- Stocks held
- 63
- up 2 vs Aug 2026
- Top 10 weight
- 31.8%
- of the portfolio in its ten largest
- Cash & debt
- 1.1%
- cash, money market and debt
- Moves this month
- 4 in · 2 out
- added to 7, trimmed 51
Kotak Contra Fund is an active equity fund in the Value / Contra category from Kotak Mahindra Mutual Fund. In September 2026 it disclosed 63 stocks worth ₹5,196 Cr, down ₹315 Cr from Aug 2026. Its largest positions were ICICI Bank Limited (5.9%), HDFC Bank Limited (5.1%), State Bank of India (3.2%); the ten largest together made up 31.8% of the portfolio, and Banks was the biggest sector at 22.5% of its equity. Cash and debt stood at 1.1%. Compared with Aug 2026 the fund entered 4 new stocks and exited 2.
Against 26 other Value / Contra funds
Concentration
35%
Top-10 weight is higher than 35% of peers
Breadth
54%
Holds more stocks than 54% of peers
Cash
12%
Holds more cash than 12% of peers
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.
- Weight
- 5.93%
- Δ weight
- down 0.22 pts
- Value
- ₹308 Cr
- Δ value
- down ₹30.9 Cr
- Status
- Trimmed
- Weight
- 5.06%
- Δ weight
- up 1.14 pts
- Value
- ₹263 Cr
- Δ value
- up ₹47 Cr
- Status
- Added
- Weight
- 3.24%
- Δ weight
- down 0.13 pts
- Value
- ₹168 Cr
- Δ value
- down ₹17.6 Cr
- Status
- Trimmed
- Weight
- 2.70%
- Δ weight
- down 0.04 pts
- Value
- ₹140 Cr
- Δ value
- down ₹10.6 Cr
- Status
- Trimmed
- Weight
- 2.67%
- Δ weight
- up 0.05 pts
- Value
- ₹139 Cr
- Δ value
- down ₹5.5 Cr
- Status
- Trimmed
- Shriram Transport Finance Company LimitedShriram Finance Limited · history in this fund
- Weight
- 2.53%
- Δ weight
- down 0.37 pts
- Value
- ₹131 Cr
- Δ value
- down ₹28.1 Cr
- Status
- Trimmed
- Weight
- 2.50%
- Δ weight
- down 0.04 pts
- Value
- ₹130 Cr
- Δ value
- down ₹9.8 Cr
- Status
- Trimmed
- Weight
- 2.46%
- Δ weight
- up 0.11 pts
- Value
- ₹128 Cr
- Δ value
- down ₹1.8 Cr
- Status
- Trimmed
- Weight
- 2.42%
- Δ weight
- up 0.07 pts
- Value
- ₹126 Cr
- Δ value
- down ₹3.9 Cr
- Status
- Trimmed
- Weight
- 2.26%
- Δ weight
- down 0.14 pts
- Value
- ₹118 Cr
- Δ value
- down ₹14.9 Cr
- Status
- Trimmed
- Weight
- 2.10%
- Δ weight
- down 0.02 pts
- Value
- ₹109 Cr
- Δ value
- down ₹7.5 Cr
- Status
- Trimmed
- Weight
- 2.09%
- Δ weight
- up 0.03 pts
- Value
- ₹109 Cr
- Δ value
- down ₹4.9 Cr
- Status
- Trimmed
- Weight
- 2.00%
- Δ weight
- down 0.12 pts
- Value
- ₹104 Cr
- Δ value
- down ₹13.1 Cr
- Status
- Trimmed
- Weight
- 1.98%
- Δ weight
- down 0.22 pts
- Value
- ₹103 Cr
- Δ value
- down ₹18.3 Cr
- Status
- Trimmed
- Weight
- 1.96%
- Δ weight
- down 0.13 pts
- Value
- ₹102 Cr
- Δ value
- down ₹13.4 Cr
- Status
- Trimmed
- Weight
- 1.93%
- Δ weight
- up 0.65 pts
- Value
- ₹100 Cr
- Δ value
- up ₹29.6 Cr
- Status
- Added
- Weight
- 1.85%
- Δ weight
- up 0.03 pts
- Value
- ₹96 Cr
- Δ value
- down ₹4.3 Cr
- Status
- Trimmed
- Weight
- 1.83%
- Δ weight
- down 0.14 pts
- Value
- ₹95.3 Cr
- Δ value
- down ₹13.4 Cr
- Status
- Trimmed
- Weight
- 1.77%
- Δ weight
- up 0.03 pts
- Value
- ₹92.2 Cr
- Δ value
- down ₹3.9 Cr
- Status
- Trimmed
- Weight
- 1.70%
- Δ weight
- up 0.11 pts
- Value
- ₹88.5 Cr
- Δ value
- up ₹74 L
- Status
- Added
- Weight
- 1.70%
- Δ weight
- up 0.03 pts
- Value
- ₹88.4 Cr
- Δ value
- down ₹3.7 Cr
- Status
- Trimmed
- Weight
- 1.68%
- Δ weight
- up 0.06 pts
- Value
- ₹87.3 Cr
- Δ value
- down ₹2.2 Cr
- Status
- Trimmed
- Weight
- 1.63%
- Δ weight
- down 0.08 pts
- Value
- ₹84.8 Cr
- Δ value
- down ₹9.8 Cr
- Status
- Trimmed
- Weight
- 1.50%
- Δ weight
- down 0.01 pts
- Value
- ₹77.9 Cr
- Δ value
- down ₹5.2 Cr
- Status
- Trimmed
- Weight
- 1.50%
- Δ weight
- down 0.01 pts
- Value
- ₹77.9 Cr
- Δ value
- down ₹5.1 Cr
- Status
- Trimmed
- Weight
- 1.49%
- Δ weight
- down 0.06 pts
- Value
- ₹77.5 Cr
- Δ value
- down ₹7.9 Cr
- Status
- Trimmed
- Weight
- 1.48%
- Δ weight
- up 0.00 pts
- Value
- ₹77 Cr
- Δ value
- down ₹4.6 Cr
- Status
- Trimmed
- DDB DEWAN HSG FINANCE CORPORATION LTDPiramal Finance Limited · history in this fund
- Weight
- 1.44%
- Δ weight
- down 0.09 pts
- Value
- ₹74.7 Cr
- Δ value
- down ₹9.4 Cr
- Status
- Trimmed
- Weight
- 1.43%
- Δ weight
- down 0.09 pts
- Value
- ₹74.4 Cr
- Δ value
- down ₹9.5 Cr
- Status
- Trimmed
- Weight
- 1.42%
- Δ weight
- up 0.04 pts
- Value
- ₹73.5 Cr
- Δ value
- down ₹2.2 Cr
- Status
- Trimmed
- Weight
- 1.38%
- Δ weight
- up 0.01 pts
- Value
- ₹71.8 Cr
- Δ value
- down ₹3.7 Cr
- Status
- Trimmed
- Weight
- 1.33%
- Δ weight
- down 0.14 pts
- Value
- ₹69.4 Cr
- Δ value
- down ₹11.7 Cr
- Status
- Trimmed
- Weight
- 1.32%
- Δ weight
- up 0.01 pts
- Value
- ₹68.4 Cr
- Δ value
- down ₹3.4 Cr
- Status
- Trimmed
- Weight
- 1.32%
- Δ weight
- up 0.03 pts
- Value
- ₹68.4 Cr
- Δ value
- down ₹2.3 Cr
- Status
- Trimmed
- Weight
- 1.31%
- Δ weight
- up 0.28 pts
- Value
- ₹68 Cr
- Δ value
- up ₹11.6 Cr
- Status
- Added
- Weight
- 1.30%
- Δ weight
- up 0.03 pts
- Value
- ₹67.5 Cr
- Δ value
- down ₹2.4 Cr
- Status
- Trimmed
- Weight
- 1.28%
- Δ weight
- down 0.05 pts
- Value
- ₹66.4 Cr
- Δ value
- down ₹6.8 Cr
- Status
- Trimmed
- Weight
- 1.27%
- Δ weight
- up 0.05 pts
- Value
- ₹66.2 Cr
- Δ value
- down ₹1.2 Cr
- Status
- Trimmed
- Weight
- 1.19%
- Δ weight
- up 0.07 pts
- Value
- ₹62 Cr
- Δ value
- up ₹32 L
- Status
- Added
- Weight
- 1.19%
- Δ weight
- up 0.05 pts
- Value
- ₹61.6 Cr
- Δ value
- down ₹91 L
- Status
- Trimmed
- Weight
- 1.18%
- Δ weight
- up 0.00 pts
- Value
- ₹61.6 Cr
- Δ value
- down ₹3.6 Cr
- Status
- Trimmed
- Weight
- 1.11%
- Δ weight
- down 0.08 pts
- Value
- ₹57.7 Cr
- Δ value
- down ₹8 Cr
- Status
- Trimmed
- Weight
- 1.10%
- Δ weight
- down 0.02 pts
- Value
- ₹57 Cr
- Δ value
- down ₹4.3 Cr
- Status
- Trimmed
- Weight
- 1.10%
- Δ weight
- up 0.06 pts
- Value
- ₹56.9 Cr
- Δ value
- down ₹2 L
- Status
- Held
- Weight
- 1.07%
- Δ weight
- down 0.03 pts
- Value
- ₹55.8 Cr
- Δ value
- down ₹5.1 Cr
- Status
- Trimmed
- Weight
- 1.06%
- Δ weight
- down 0.23 pts
- Value
- ₹55.2 Cr
- Δ value
- down ₹15.9 Cr
- Status
- Trimmed
- Cash, TREPS & receivables
- Weight
- 1.05%
- Δ weight
- down 0.65 pts
- Value
- ₹54.7 Cr
- Δ value
- down ₹39.4 Cr
- Status
- Trimmed
- Weight
- 1.05%
- Δ weight
- down 0.05 pts
- Value
- ₹54.3 Cr
- Δ value
- down ₹6 Cr
- Status
- Trimmed
- Weight
- 1.04%
- Δ weight
- up 0.03 pts
- Value
- ₹54.3 Cr
- Δ value
- down ₹1.4 Cr
- Status
- Trimmed
- Weight
- 1.02%
- Δ weight
- down 0.26 pts
- Value
- ₹53.1 Cr
- Δ value
- down ₹17.6 Cr
- Status
- Trimmed
- Weight
- 0.98%
- Δ weight
- up 0.02 pts
- Value
- ₹50.7 Cr
- Δ value
- down ₹2.1 Cr
- Status
- Trimmed
- Weight
- 0.97%
- Δ weight
- up 0.97 pts
- Value
- ₹50.6 Cr
- Δ value
- up ₹50.6 Cr
- Status
- New
- Weight
- 0.95%
- Δ weight
- up 0.00 pts
- Value
- ₹49.3 Cr
- Δ value
- down ₹3 Cr
- Status
- Trimmed
- Weight
- 0.90%
- Δ weight
- down 0.05 pts
- Value
- ₹46.6 Cr
- Δ value
- down ₹5.5 Cr
- Status
- Trimmed
- Weight
- 0.87%
- Δ weight
- down 0.05 pts
- Value
- ₹45.1 Cr
- Δ value
- down ₹5.4 Cr
- Status
- Trimmed
- Weight
- 0.80%
- Δ weight
- down 0.01 pts
- Value
- ₹41.4 Cr
- Δ value
- down ₹3.2 Cr
- Status
- Trimmed
- Weight
- 0.68%
- Δ weight
- up 0.68 pts
- Value
- ₹35.5 Cr
- Δ value
- up ₹35.5 Cr
- Status
- New
- Weight
- 0.67%
- Δ weight
- up 0.67 pts
- Value
- ₹34.7 Cr
- Δ value
- up ₹34.7 Cr
- Status
- New
- Weight
- 0.66%
- Δ weight
- down 0.02 pts
- Value
- ₹34.4 Cr
- Δ value
- down ₹3.3 Cr
- Status
- Trimmed
- Weight
- 0.65%
- Δ weight
- down 0.09 pts
- Value
- ₹33.6 Cr
- Δ value
- down ₹7.1 Cr
- Status
- Trimmed
- Weight
- 0.57%
- Δ weight
- down 1.07 pts
- Value
- ₹29.8 Cr
- Δ value
- down ₹60.9 Cr
- Status
- Trimmed
- Weight
- 0.56%
- Δ weight
- up 0.05 pts
- Value
- ₹28.9 Cr
- Δ value
- up ₹80 L
- Status
- Added
- Weight
- 0.44%
- Δ weight
- up 0.26 pts
- Value
- ₹22.7 Cr
- Δ value
- up ₹12.7 Cr
- Status
- Added
- Weight
- 0.38%
- Δ weight
- up 0.38 pts
- Value
- ₹19.8 Cr
- Δ value
- up ₹19.8 Cr
- Status
- New
What changed, Aug 2026 to Sep 2026
New New positions (4)
- Pine Labs Limited1.0% · ₹50.6 Cr
- AXISCADES Technologies Limited0.7% · ₹35.5 Cr
- The South Indian Bank Limited0.7% · ₹34.7 Cr
- National Stock Exchange Of India Ltd0.4% · ₹19.8 Cr
Exited Exited (2)
- Aptus Value Housing Finance India Limitedwas 0.8% · ₹45.2 Cr
- Power Finance Corporation Limitedwas 0.5% · ₹26.9 Cr
Added Biggest additions
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 Banks (+1.2 pts) and Financial Technology (fintech) (+1.0 pts), and fell most in Finance (−2.0 pts) and Healthcare Services (−1.3 pts).
- Banks21.3% → 22.5%+1.2 pts
- Financial Technology (fintech)0.0% → 1.0%new+1.0 pts
- Aerospace & Defense2.8% → 3.5%+0.7 pts
- Industrial Manufacturing1.3% → 2.0%+0.6 pts
- Capital Markets0.9% → 1.3%+0.3 pts
- Healthcare Equipment & Supplies1.0% → 1.3%+0.3 pts
- Finance10.3% → 8.3%−2.0 pts
- Healthcare Services6.8% → 5.5%−1.3 pts
- IT - Software6.3% → 6.0%−0.3 pts
- Beverages1.3% → 1.0%−0.3 pts
- Consumer Durables2.6% → 2.4%−0.2 pts
- Retailing3.1% → 3.0%−0.2 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 | 21.3% | 22.5% |
| Finance | 10.3% | 8.3% |
| IT - Software | 6.3% | 6.0% |
| Pharmaceuticals & Biotechnology | 5.4% | 5.5% |
| Healthcare Services | 6.8% | 5.5% |
| Automobiles | 4.8% | 4.7% |
| Telecom - Services | 4.1% | 4.2% |
| Construction | 3.7% | 3.7% |
| Auto Components | 3.5% | 3.5% |
| Aerospace & Defense | 2.8% | 3.5% |
Allocation in Sep 2026change vs Aug 2026
- Banks (9)22.5%▲ 1.2 pts
- Finance (5)8.3%▼ 2.0 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.
Cash & debt, Sep 2026
1.1%
▼ 0.7 pts vs Aug 2026
- Cash alone
- 1.1%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 1.1% – 1.7%
- lowest to highest · record 1.7% in Aug 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.