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Sectoral / Thematic · Nippon India Mutual Fund · AMFI code 101862Nippon India Banking & Financial Services Fund
Disclosed for 64 months, May 2021 to Aug 2026.Published as: NIPPON INDIA BANKING & FINANCIAL SERVICES FUND (An open ended equity scheme investing in Banking & Financial Services Sector)
Portfolio value
₹7,778 Cr
down ₹13.7 Cr vs Nov 2025
- Stocks held
- 33
Nippon India Banking & Financial Services Fund is an active equity fund in the Sectoral / Thematic category from Nippon India Mutual Fund. In December 2025 it disclosed 33 stocks worth ₹7,778 Cr, down ₹13.7 Cr from Nov 2025. Its largest positions were HDFC Bank Limited (15.4%), ICICI Bank Limited (14.2%), Axis Bank Limited (9.1%); the ten largest together made up 65.9% of the portfolio, and Banks was the biggest sector at 61.1% of its equity. Cash and debt stood at 1.5%. Compared with Nov 2025 the fund entered 1 new stock and exited 0.
Against 229 other Sectoral / Thematic funds
Concentration
90%
Top-10 weight is higher than 90% of peers
Breadth
19%
Holds more stocks than 19% of peers
Cash
22%
Holds more cash than 22% of peers
What these mean: concentration · cash
Holdings in December 2025
Download CSVEvery line the fund disclosed, with the change against Nov 2025. Click a column to sort; click a company to see every fund that owns it. New to these? How to read a portfolio.
| HDFC Bank Limited | 15.38% | down 0.23 pts | ₹1,196 Cr | down ₹19.8 Cr | Trimmed |
| ICICI Bank Limited | 14.22% | up 0.19 pts | ₹1,106 Cr | up ₹12.8 Cr | Added |
| Axis Bank Limited | 9.09% | down 0.06 pts | ₹707 Cr | down ₹5.7 Cr | Trimmed |
| State Bank of India | 7.03% | down 0.08 pts | ₹547 Cr | down ₹7.3 Cr | Trimmed |
| SBI Cards and Payment Services Limited | 4.31% | up 0.21 pts | ₹336 Cr | up ₹15.4 Cr | Added |
| SBI Life Insurance Company Limited | 3.85% | up 0.14 pts | ₹299 Cr | up ₹10.1 Cr | Added |
| Bajaj Finserv Limited | 3.35% | down 0.08 pts | ₹260 Cr | down ₹6.9 Cr | Trimmed |
| The Federal Bank Limited | 3.23% | down 0.88 pts | ₹251 Cr | down ₹68.7 Cr | Trimmed |
| Kotak Mahindra Bank Limited | 2.87% | up 0.10 pts | ₹223 Cr | up ₹7.8 Cr | Added |
| Max Financial Services Limited | 2.60% | down 0.04 pts | ₹203 Cr | down ₹3.7 Cr | Trimmed |
| Bank of Baroda | 2.58% | down 0.43 pts | ₹201 Cr | down ₹33.5 Cr | Trimmed |
| Cholamandalam Financial Holdings Limited | 2.48% | down 0.04 pts | ₹193 Cr | down ₹3.5 Cr | Trimmed |
| IndusInd Bank Limited | 2.40% | up 0.02 pts | ₹187 Cr | up ₹1.2 Cr | Added |
| ICICI Prudential Asset Management Company Limited | 2.17% | up 2.17 pts | ₹169 Cr | up ₹169 Cr | New |
| L&T Finance Limited | 2.14% | up 0.03 pts | ₹166 Cr | up ₹1.9 Cr | Added |
| Multi Commodity Exchange of India Limited | 1.98% | up 0.19 pts | ₹154 Cr | up ₹14.7 Cr | Added |
| Equitas Small Finance Bank Limited | 1.75% | down 0.03 pts | ₹136 Cr | down ₹2.5 Cr | Trimmed |
| Bajaj Finance Limited | 1.71% | down 0.08 pts | ₹133 Cr | down ₹6.8 Cr | Trimmed |
| UTI Asset Management Company Limited | 1.66% | down 0.01 pts | ₹129 Cr | down ₹1.3 Cr | Trimmed |
| AU Small Finance Bank Limited | 1.62% | down 0.12 pts | ₹126 Cr | down ₹9.4 Cr | Trimmed |
| HDFC Life Insurance Company Limited | 1.57% | down 0.03 pts | ₹122 Cr | down ₹2.3 Cr | Trimmed |
| Cash, TREPS & receivables | 1.55% | down 1.19 pts | ₹120 Cr | down ₹93.1 Cr | Trimmed |
| KFin Technologies Limited | 1.42% | up 0.10 pts | ₹111 Cr | up ₹7.5 Cr | Added |
| Angel One Limited | 1.33% | down 0.20 pts | ₹103 Cr | down ₹15.9 Cr | Trimmed |
| HDFC Asset Management Company Limited | 1.16% | up <0.01 pts | ₹89.9 Cr | down ₹3 L | Held |
| ICICI Lombard General Insurance Company Limited | 0.96% | down <0.01 pts | ₹74.8 Cr | down ₹32 L | Held |
| PNB Housing Finance Limited | 0.89% | up 0.04 pts | ₹69.1 Cr | up ₹3.4 Cr | Added |
| DDB DEWAN HSG FINANCE CORPORATION LTD Piramal Finance Limited · history in this fund | 0.88% | up 0.19 pts | ₹68.8 Cr | up ₹14.6 Cr | Added |
| One 97 Communications Limited | 0.87% | down 0.01 pts | ₹67.4 Cr | down ₹1.1 Cr | Trimmed |
| ICICI Prudential Life Insurance Company Limited | 0.78% | up 0.06 pts | ₹60.7 Cr | up ₹4.4 Cr | Added |
| Aavas Financiers Limited | 0.75% | down 0.04 pts | ₹58.6 Cr | down ₹3.3 Cr | Trimmed |
| HDB Financial Services Limited | 0.57% | down <0.01 pts | ₹44.3 Cr | down ₹10 L | Held |
| Sundaram Finance Limited | 0.47% | up 0.16 pts | ₹36.8 Cr | up ₹12.6 Cr | Added |
| Seshaasai Technologies Limited | 0.37% | down 0.04 pts | ₹28.9 Cr | down ₹3.2 Cr | Trimmed |
What changed, Nov 2025 to Dec 2025
New New positions (1)
- ICICI Prudential Asset Management Company Limited2.2% · ₹169 Cr
Exited Exited (0)
None.
Added Biggest additions
- SBI Cards and Payment Services Limitedup ₹15.4 Cr (+0.21% pts)
- Multi Commodity Exchange of India Limitedup ₹14.7 Cr (+0.19% pts)
- DDB DEWAN HSG FINANCE CORPORATION LTDup ₹14.6 Cr (+0.19% pts)
- ICICI Bank Limited ₹12.8 Cr (+0.19% 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 Nov 2025, the weight rose most in Capital Markets (+2.2 pts) and Finance (+0.2 pts), and fell most in Banks (−2.3 pts).
- Capital Markets7.7% → 9.9%+2.2 pts
- Finance17.7% → 17.8%+0.2 pts
- Banks63.4% → 61.1%−2.3 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 | Dec 2022 | Dec 2024 | Jun 2025 | Sep 2025 | Nov 2025 | Dec 2025 |
|---|---|---|---|---|---|---|
| Banks | 63.5% | 69.1% | 62.9% | 63.4% | 63.4% | 61.1% |
| Finance | 20.9% | 14.8% | 16.9% | 16.9% | 17.7% | 17.8% |
| Insurance | 8.0% | 7.9% | 10.9% | 10.1% | 9.9% | 9.9% |
| Capital Markets | 6.5% | 6.4% | 8.1% | 7.8% | 7.7% | 9.9% |
| Financial Technology (fintech) | 1.0% | 1.8% | 1.2% | 1.7% | 1.3% | 1.3% |
Allocation in Dec 2025change vs Nov 2025
- Banks (10)61.1%▼ 2.3 pts
- Finance (10)17.8%▲ 0.2 pts
- Insurance (5)9.9%
- Capital Markets (6)9.9%▲ 2.2 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, Dec 2025
1.5%
▼ 1.2 pts vs Nov 2025
- Cash alone
- 1.6%
- cash and net receivables
- A year earlier
- 3.0%
- Dec 2024 · now ▼ 1.5 pts
- Last 12 months
- 1.2% – 3.2%
- lowest to highest · record 5.0% in Jul 2023
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.