Banking still rules MF portfolios: When talking about mutual funds, according to Motilal Oswal’s latest mutual fund data for March 2026, banking stock continues to dominate portfolios and at the very top sits HDFC Bank. The latest data for March 2026 highlights that private banks remain the largest sectoral allocation in mutual funds, with a weight of around 17.6 per cent.
The market was weak in March 2026. Nifty fell 11.3 per cent, considered a big drop. Because of this, mutual fund AUM fell 10 per cent to Rs 73.7 lakh crore, and equity AUM also dropped. But, Banking remains the highest allocation, with HDFC Bank being the most held stock. The latest mutual fund data by Motilal Oswal contains the top 21 mutual funds, with most of the funds holding HDFC Bank at the top.
Such as in the top company holdings, HDFC Bank is held at the top, ICICI Prudential holds the same, Nippon India also holds HDFC Bank at the top. There are other mutual funds with the same company holdings.
HDFC mutual fund: Top company holdings
- ICICI Bank
- HDFC Bank
- Axis Bank
- RIL
- SBI
- Bharti Airtel
- Kotak M Bk
- L&T
- Infosys
- Maruti Suzuki
HDFC mutual fund: Top sector allocation
- Banks-PVT
- Auto
- Healthcare
- Technology
- Cap. Goods
- Oil & Gas
- Banks-PSU
- Consumer
- Telecom
- NBFC-Lending
HDFC mutual fund: Top scheme by NAV change
| Scheme Name | Total AUM
(INR B) |
Equity AUM
(INR B) |
MoM NAV
Chg (%) |
| HDFC Pharma and Healthcare Fund | 19.8 | 19.5 | -4.5 |
| HDFC Innovation Fund | 23.6 | 22.8 | -6.8 |
| HDFC Technology Fund | 12.6 | 12.5 | -7.3 |
| HDFC Multi Cap Fund | 175.6 | 172.0 | -10.9 |
| HDFC Mid Cap Fund | 853.6 | 788.6 | -11.0 |
Read more: Mutual Fund Returns: 5 schemes that grew money at least 13X in 15 years – LIST
Mutual funds with top company holdings
SBI
- HDFC Bank
- ICICI Bank
- RIL
- SBI
- Bharti Airtel
- L&T
- Infosys
- Kotak M Bk
- Axis Bank
- Bajaj Finance
ICICI Prudential
- HDFC Bank
- ICICI Bank
- RIL
- Infosys
- Axis Bank
- L&T
- Bharti Airtel
- NTPC
- Sun Pharma
- Maruti Suzuki
Nippon India
- HDFC Bank
- ICICI Bank
- RIL
- NTPC
- Axis Bank
- SBI
- Infosys
- L&T
- Bharti Airtel
- BEL
Kotak Mahindra
- HDFC Bank
- ICICI Bank
- SBI
- Bharti Airtel
- BEL
- Axis Bank
- RIL
- Eternal
- Maruti Suzuki
- L&T
UTI
- HDFC Bank
- ICICI Bank
- RIL
- Bharti Airtel
- Infosys
- SBI
- Larsen & Toubro
- Kotak M Bk
- Axis Bank
- M&M
Mirae Asset
HDFC Bank
ICICI Bank
RIL
Axis Bank
Bharti Airtel
SBI
Infosys
Eternal
ITC
L&T
Also read: 5 high-performing flexi cap funds with up to 20% CAGR – Are they in your portfolio?
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
