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Sectoral / Thematic · Kotak Mahindra Mutual Fund · AMFI code 154152Kotak Services Fund
Disclosed for 3 months, Jul 2026 to Sep 2026.
Portfolio value
₹711 Cr
down ₹45.7 Cr vs Aug 2026
- Stocks held
- 48
- unchanged
- Top 10 weight
- 62.2%
- of the portfolio in its ten largest
- Cash & debt
- 2.6%
- cash, money market and debt
- Moves this month
- 4 in · 4 out
- added to 6, trimmed 39
Kotak Services Fund is an active equity fund in the Sectoral / Thematic category from Kotak Mahindra Mutual Fund. In September 2026 it disclosed 48 stocks worth ₹711 Cr, down ₹45.7 Cr from Aug 2026. Its largest positions were ICICI Bank Limited (10.8%), State Bank of India (9.3%), Axis Bank Limited (8.7%); the ten largest together made up 62.2% of the portfolio, and Banks was the biggest sector at 37.4% of its equity. Cash and debt stood at 2.6%. Compared with Aug 2026 the fund entered 4 new stocks and exited 4.
Against 226 other Sectoral / Thematic funds
Concentration
88%
Top-10 weight is higher than 88% of peers
Breadth
60%
Holds more stocks than 60% of peers
Cash
37%
Holds more cash than 37% 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
- 10.84%
- Δ weight
- down 0.37 pts
- Value
- ₹77.1 Cr
- Δ value
- down ₹7.7 Cr
- Status
- Trimmed
- Weight
- 9.26%
- Δ weight
- down 0.35 pts
- Value
- ₹65.8 Cr
- Δ value
- down ₹6.9 Cr
- Status
- Trimmed
- Weight
- 8.69%
- Δ weight
- up 0.03 pts
- Value
- ₹61.8 Cr
- Δ value
- down ₹3.7 Cr
- Status
- Trimmed
- Weight
- 6.22%
- Δ weight
- up 1.32 pts
- Value
- ₹44.2 Cr
- Δ value
- up ₹7.2 Cr
- Status
- Added
- Weight
- 6.01%
- Δ weight
- down 1.45 pts
- Value
- ₹42.7 Cr
- Δ value
- down ₹13.7 Cr
- Status
- Trimmed
- Weight
- 5.03%
- Δ weight
- up 0.25 pts
- Value
- ₹35.7 Cr
- Δ value
- down ₹42 L
- Status
- Trimmed
- Weight
- 5.00%
- Δ weight
- down 0.23 pts
- Value
- ₹35.5 Cr
- Δ value
- down ₹4 Cr
- Status
- Trimmed
- Weight
- 4.11%
- Δ weight
- down 0.20 pts
- Value
- ₹29.2 Cr
- Δ value
- down ₹3.4 Cr
- Status
- Trimmed
- Weight
- 3.59%
- Δ weight
- down 0.13 pts
- Value
- ₹25.5 Cr
- Δ value
- down ₹2.6 Cr
- Status
- Trimmed
- Weight
- 3.44%
- Δ weight
- down 0.01 pts
- Value
- ₹24.5 Cr
- Δ value
- down ₹1.7 Cr
- Status
- Trimmed
- Cash, TREPS & receivables
- Weight
- 2.59%
- Δ weight
- up 0.63 pts
- Value
- ₹18.4 Cr
- Δ value
- up ₹3.5 Cr
- Status
- Added
- Weight
- 2.34%
- Δ weight
- down 1.67 pts
- Value
- ₹16.6 Cr
- Δ value
- down ₹13.7 Cr
- Status
- Trimmed
- Weight
- 2.18%
- Δ weight
- down 0.19 pts
- Value
- ₹15.5 Cr
- Δ value
- down ₹2.4 Cr
- Status
- Trimmed
- Shriram Transport Finance Company LimitedShriram Finance Limited · history in this fund
- Weight
- 2.11%
- Δ weight
- down 0.13 pts
- Value
- ₹15 Cr
- Δ value
- down ₹1.9 Cr
- Status
- Trimmed
- Weight
- 1.87%
- Δ weight
- up 0.09 pts
- Value
- ₹13.3 Cr
- Δ value
- down ₹19 L
- Status
- Trimmed
- Weight
- 1.83%
- Δ weight
- up 0.20 pts
- Value
- ₹13 Cr
- Δ value
- up ₹65 L
- Status
- Added
- Weight
- 1.69%
- Δ weight
- up 0.44 pts
- Value
- ₹12 Cr
- Δ value
- up ₹2.6 Cr
- Status
- Added
- Weight
- 1.67%
- Δ weight
- up 0.01 pts
- Value
- ₹11.9 Cr
- Δ value
- down ₹68 L
- Status
- Trimmed
- Weight
- 1.40%
- Δ weight
- down 0.26 pts
- Value
- ₹10 Cr
- Δ value
- down ₹2.6 Cr
- Status
- Trimmed
- Weight
- 1.36%
- Δ weight
- down 0.03 pts
- Value
- ₹9.6 Cr
- Δ value
- down ₹81 L
- Status
- Trimmed
- Weight
- 1.26%
- Δ weight
- down 0.07 pts
- Value
- ₹9 Cr
- Δ value
- down ₹1.1 Cr
- Status
- Trimmed
- Weight
- 1.23%
- Δ weight
- up 0.69 pts
- Value
- ₹8.7 Cr
- Δ value
- up ₹4.7 Cr
- Status
- Added
- Weight
- 1.15%
- Δ weight
- up 1.15 pts
- Value
- ₹8.2 Cr
- Δ value
- up ₹8.2 Cr
- Status
- New
- Weight
- 1.14%
- Δ weight
- up 0.02 pts
- Value
- ₹8.1 Cr
- Δ value
- down ₹38 L
- Status
- Trimmed
- Weight
- 1.13%
- Δ weight
- down 0.05 pts
- Value
- ₹8.1 Cr
- Δ value
- down ₹92 L
- Status
- Trimmed
- Weight
- 1.13%
- Δ weight
- up 1.13 pts
- Value
- ₹8.1 Cr
- Δ value
- up ₹8.1 Cr
- Status
- New
- Weight
- 0.94%
- Δ weight
- up 0.04 pts
- Value
- ₹6.7 Cr
- Δ value
- down ₹16 L
- Status
- Trimmed
- Weight
- 0.84%
- Δ weight
- down 0.24 pts
- Value
- ₹6 Cr
- Δ value
- down ₹2.2 Cr
- Status
- Trimmed
- Weight
- 0.84%
- Δ weight
- down 0.12 pts
- Value
- ₹5.9 Cr
- Δ value
- down ₹1.3 Cr
- Status
- Trimmed
- Weight
- 0.81%
- Δ weight
- up 0.08 pts
- Value
- ₹5.7 Cr
- Δ value
- up ₹24 L
- Status
- Added
- Weight
- 0.80%
- Δ weight
- up 0.01 pts
- Value
- ₹5.7 Cr
- Δ value
- down ₹32 L
- Status
- Trimmed
- Weight
- 0.67%
- Δ weight
- down 0.05 pts
- Value
- ₹4.8 Cr
- Δ value
- down ₹67 L
- Status
- Trimmed
- Weight
- 0.65%
- Δ weight
- down 0.07 pts
- Value
- ₹4.6 Cr
- Δ value
- down ₹80 L
- Status
- Trimmed
- Weight
- 0.61%
- Δ weight
- down <0.01 pts
- Value
- ₹4.3 Cr
- Δ value
- down ₹30 L
- Status
- Trimmed
- Weight
- 0.59%
- Δ weight
- down 0.04 pts
- Value
- ₹4.2 Cr
- Δ value
- down ₹60 L
- Status
- Trimmed
- Weight
- 0.58%
- Δ weight
- up 0.01 pts
- Value
- ₹4.1 Cr
- Δ value
- down ₹17 L
- Status
- Trimmed
- Weight
- 0.50%
- Δ weight
- up 0.01 pts
- Value
- ₹3.6 Cr
- Δ value
- down ₹12 L
- Status
- Trimmed
- Weight
- 0.44%
- Δ weight
- down 0.01 pts
- Value
- ₹3.1 Cr
- Δ value
- down ₹25 L
- Status
- Trimmed
- Weight
- 0.42%
- Δ weight
- down 0.01 pts
- Value
- ₹3 Cr
- Δ value
- down ₹25 L
- Status
- Trimmed
- Weight
- 0.40%
- Δ weight
- down 0.01 pts
- Value
- ₹2.9 Cr
- Δ value
- down ₹27 L
- Status
- Trimmed
- Weight
- 0.38%
- Δ weight
- up 0.01 pts
- Value
- ₹2.7 Cr
- Δ value
- down ₹11 L
- Status
- Trimmed
- Weight
- 0.38%
- Δ weight
- up 0.02 pts
- Value
- ₹2.7 Cr
- Δ value
- down ₹3 L
- Status
- Trimmed
- Weight
- 0.37%
- Δ weight
- up 0.03 pts
- Value
- ₹2.6 Cr
- Δ value
- up ₹3 L
- Status
- Added
- Weight
- 0.30%
- Δ weight
- up 0.30 pts
- Value
- ₹2.1 Cr
- Δ value
- up ₹2.1 Cr
- Status
- New
- Brookfield India Real Estate TrustREIT / InvIT
- Weight
- 0.29%
- Δ weight
- up 0.01 pts
- Value
- ₹2.1 Cr
- Δ value
- down ₹3 L
- Status
- Trimmed
- Weight
- 0.26%
- Δ weight
- up <0.01 pts
- Value
- ₹1.9 Cr
- Δ value
- down ₹11 L
- Status
- Trimmed
- Weight
- 0.22%
- Δ weight
- down 0.02 pts
- Value
- ₹1.6 Cr
- Δ value
- down ₹28 L
- Status
- Trimmed
- Weight
- 0.21%
- Δ weight
- up 0.21 pts
- Value
- ₹1.5 Cr
- Δ value
- up ₹1.5 Cr
- Status
- New
- Weight
- 0.11%
- Δ weight
- down <0.01 pts
- Value
- ₹76 L
- Δ value
- down ₹6 L
- Status
- Trimmed
- Weight
- 0.10%
- Δ weight
- down 0.01 pts
- Value
- ₹71 L
- Δ value
- down ₹9 L
- Status
- Trimmed
What changed, Aug 2026 to Sep 2026
New New positions (4)
- Rentomojo Limited1.1% · ₹8.2 Cr
- SS Retail Limited1.1% · ₹8.1 Cr
- Coal India Limited0.3% · ₹2.1 Cr
- JSW Energy Limited0.2% · ₹1.5 Cr
Exited Exited (4)
- Emmvee Photovoltaic Power Limitedwas 0.6% · ₹4.3 Cr
- Graphite India Limitedwas 0.2% · ₹1.3 Cr
- Tata Power Company Limitedwas 0.1% · ₹98 L
- Adani Ports and Special Economic Zone Limitedwas 0.1% · ₹93 L
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 Retailing (+2.1 pts) and Commercial Services & Supplies (+1.2 pts), and fell most in IT - Software (−1.9 pts) and Telecom - Services (−1.4 pts).
- Retailing2.2% → 4.3%+2.1 pts
- Commercial Services & Supplies0.0% → 1.2%new+1.2 pts
- Banks36.5% → 37.4%+0.9 pts
- Power6.8% → 7.3%+0.5 pts
- Consumable Fuels0.0% → 0.3%new+0.3 pts
- Industrial Products1.5% → 1.7%+0.3 pts
- IT - Software9.3% → 7.4%−1.9 pts
- Telecom - Services8.6% → 7.2%−1.4 pts
- Finance13.1% → 12.3%−0.8 pts
- Electrical Equipment0.6% → 0.0%exited−0.6 pts
- Transport Services4.3% → 4.0%−0.3 pts
- Consumer Durables5.9% → 5.6%−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 | 36.5% | 37.4% |
| Finance | 13.1% | 12.3% |
| IT - Software | 9.3% | 7.4% |
| Power | 6.8% | 7.3% |
| Telecom - Services | 8.6% | 7.2% |
| Consumer Durables | 5.9% | 5.6% |
| Capital Markets | 4.6% | 4.5% |
| Retailing | 2.2% | 4.3% |
| Transport Services | 4.3% | 4.0% |
| Healthcare Services | 1.8% | 1.8% |
Allocation in Sep 2026change vs Aug 2026
- Banks (6)37.4%▲ 0.9 pts
- Finance (7)12.3%▼ 0.8 pts
- IT - Software (3)7.4%▼ 1.9 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
2.6%
▲ 0.6 pts vs Aug 2026
- Cash alone
- 2.6%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 2.0% – 6.8%
- lowest to highest · record 6.8% 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.