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Flexi Cap · Kotak Mahindra Mutual Fund · AMFI code 112089Kotak Flexi Cap Fund
Disclosed for 3 months, Jul 2026 to Sep 2026.
Portfolio value
₹53,087 Cr
down ₹3,306 Cr vs Aug 2026
- Stocks held
- 55
- down 2 vs Aug 2026
- Top 10 weight
- 42.2%
- of the portfolio in its ten largest
- Cash & debt
- 1.3%
- cash, money market and debt
- Moves this month
- 0 in · 2 out
- added to 6, trimmed 47
Holdings as of the end of September 2026, from Kotak Mahindra Mutual Fund’s monthly portfolio disclosure. Fund houses publish each month’s portfolio within 10 days of the month end, and this page is updated after they do. How the data is checked
Kotak Flexi Cap Fund is an active equity fund in the Flexi Cap category from Kotak Mahindra Mutual Fund. In September 2026 it disclosed 55 stocks worth ₹53,087 Cr, down ₹3,306 Cr from Aug 2026. Its largest positions were ICICI Bank Limited (5.5%), Bharat Electronics Limited (5.3%), HDFC Bank Limited (5.3%); the ten largest together made up 42.2% of the portfolio, and Banks was the biggest sector at 23.2% of its equity. Cash and debt stood at 1.3%. Compared with Aug 2026 the fund entered 0 new stocks and exited 2.
Against 43 other Flexi Cap funds
Concentration
77%
Top-10 weight is higher than 77% of peers
Breadth
21%
Holds more stocks than 21% of peers
Cash
16%
Holds more cash than 16% 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.
| ICICI Bank Limited | 5.48% | down 0.20 pts | ₹2,908 Cr | down ₹291 Cr | Trimmed |
| Bharat Electronics Limited | 5.34% | down 0.06 pts | ₹2,835 Cr | down ₹212 Cr | Trimmed |
| HDFC Bank Limited | 5.27% | up 0.31 pts | ₹2,799 Cr | down ₹1.2 Cr | Held |
| State Bank of India | 4.30% | down 0.17 pts | ₹2,284 Cr | down ₹239 Cr | Trimmed |
| Eternal Limited | 4.22% | up 0.15 pts | ₹2,240 Cr | down ₹56.7 Cr | Trimmed |
| Jindal Steel & Power Limited | 4.06% | up 0.04 pts | ₹2,156 Cr | down ₹110 Cr | Trimmed |
| Solar Industries India Limited | 3.71% | up 0.15 pts | ₹1,970 Cr | down ₹40.8 Cr | Trimmed |
| Larsen & Toubro Limited | 3.54% | down 0.19 pts | ₹1,880 Cr | down ₹223 Cr | Trimmed |
| Axis Bank Limited | 3.35% | down 0.34 pts | ₹1,778 Cr | down ₹302 Cr | Trimmed |
| SRF Limited | 2.89% | up 0.07 pts | ₹1,533 Cr | down ₹54.5 Cr | Trimmed |
| Bharti Airtel Limited | 2.88% | up 0.08 pts | ₹1,529 Cr | down ₹47.8 Cr | Trimmed |
| UltraTech Cement Limited | 2.84% | up 0.05 pts | ₹1,506 Cr | down ₹67.9 Cr | Trimmed |
| InterGlobe Aviation Limited | 2.53% | up 0.03 pts | ₹1,346 Cr | down ₹67.5 Cr | Trimmed |
| Bharat Forge Limited | 2.39% | down 0.07 pts | ₹1,271 Cr | down ₹118 Cr | Trimmed |
| Zydus Lifesciences Limited | 2.28% | up 0.13 pts | ₹1,210 Cr | up ₹73 L | Held |
| Reliance Industries Limited | 2.24% | down 0.03 pts | ₹1,187 Cr | down ₹90 Cr | Trimmed |
| Sun Pharmaceutical Industries Limited | 2.14% | up 0.03 pts | ₹1,135 Cr | down ₹55.5 Cr | Trimmed |
| Lenskart Solutions Limited | 2.08% | up 1.37 pts | ₹1,102 Cr | up ₹705 Cr | Added |
| Bajaj Finance Limited | 1.99% | down 0.07 pts | ₹1,055 Cr | down ₹107 Cr | Trimmed |
| Hero MotoCorp Limited | 1.97% | up 0.04 pts | ₹1,048 Cr | down ₹41.8 Cr | Trimmed |
| BSE Limited | 1.81% | up <0.01 pts | ₹959 Cr | down ₹58.9 Cr | Trimmed |
| Maruti Suzuki India Limited | 1.80% | down 0.12 pts | ₹957 Cr | down ₹126 Cr | Trimmed |
| AU Small Finance Bank Limited | 1.69% | down 0.02 pts | ₹899 Cr | down ₹67.6 Cr | Trimmed |
| Infosys Limited | 1.60% | down 0.12 pts | ₹852 Cr | down ₹120 Cr | Trimmed |
| Kotak Mahindra Bank Limited | 1.45% | up 0.08 pts | ₹771 Cr | down ₹4.4 Cr | Trimmed |
| Petronet LNG Limited | 1.39% | up 0.01 pts | ₹740 Cr | down ₹41.9 Cr | Trimmed |
| Thermax Limited | 1.39% | down 0.11 pts | ₹738 Cr | down ₹111 Cr | Trimmed |
| Tech Mahindra Limited | 1.35% | down 0.01 pts | ₹716 Cr | down ₹48.9 Cr | Trimmed |
| NTPC Limited | 1.28% | up 0.06 pts | ₹678 Cr | down ₹9.8 Cr | Trimmed |
| IndusInd Bank Limited | 1.27% | down 0.08 pts | ₹676 Cr | down ₹86.4 Cr | Trimmed |
| Cash, TREPS & receivables | 1.27% | up 0.04 pts | ₹675 Cr | down ₹18.7 Cr | Trimmed |
| The Ramco Cements Limited | 1.19% | down 0.01 pts | ₹634 Cr | down ₹43.1 Cr | Trimmed |
| Billionbrains Garage Ventures Ltd | 1.14% | up 0.02 pts | ₹607 Cr | down ₹26.9 Cr | Trimmed |
| Shriram Transport Finance Company Limited Shriram Finance Limited · history in this fund | 1.11% | down 0.07 pts | ₹590 Cr | down ₹76.3 Cr | Trimmed |
| Ajanta Pharma Limited | 1.10% | up 0.07 pts | ₹586 Cr | up ₹3.1 Cr | Added |
| Bharat Petroleum Corporation Limited | 1.03% | down 0.06 pts | ₹546 Cr | down ₹69.9 Cr | Trimmed |
| Power Grid Corporation of India Limited | 0.98% | up 0.05 pts | ₹521 Cr | down ₹6.1 Cr | Trimmed |
| Indus Towers Limited | 0.91% | up 0.02 pts | ₹485 Cr | down ₹20.3 Cr | Trimmed |
| MRF Limited | 0.90% | down <0.01 pts | ₹476 Cr | down ₹32.2 Cr | Trimmed |
| Cipla Limited | 0.89% | up 0.01 pts | ₹471 Cr | down ₹22.1 Cr | Trimmed |
| Dalmia Bharat Limited | 0.86% | down 0.03 pts | ₹455 Cr | down ₹46.6 Cr | Trimmed |
| AIA Engineering Limited | 0.78% | down 0.03 pts | ₹415 Cr | down ₹41.7 Cr | Trimmed |
| BEML Limited | 0.71% | up 0.06 pts | ₹379 Cr | up ₹10.7 Cr | Added |
| Max Financial Services Limited | 0.70% | down 0.05 pts | ₹371 Cr | down ₹53.9 Cr | Trimmed |
| DDB DEWAN HSG FINANCE CORPORATION LTD Piramal Finance Limited · history in this fund | 0.69% | up 0.40 pts | ₹368 Cr | up ₹204 Cr | Added |
| Balkrishna Industries Limited | 0.68% | down 0.01 pts | ₹360 Cr | down ₹27.6 Cr | Trimmed |
| Krishna Institute Of Medical Sciences Limited | 0.60% | up 0.16 pts | ₹321 Cr | up ₹71.6 Cr | Added |
| 360 One WAM Limited | 0.60% | down 0.04 pts | ₹319 Cr | down ₹44.9 Cr | Trimmed |
| Coromandel International Limited | 0.50% | down 0.01 pts | ₹264 Cr | down ₹22.2 Cr | Trimmed |
| Manipal Health Enterprises Ltd | 0.45% | down 0.01 pts | ₹241 Cr | down ₹18.5 Cr | Trimmed |
What changed, Aug 2026 to Sep 2026
New New positions (0)
None.
Exited Exited (2)
- Tata Consultancy Services Limitedwas 0.8% · ₹432 Cr
- Hindustan Unilever Limitedwas 0.7% · ₹413 Cr
Added Biggest additions
- Lenskart Solutions Limitedup ₹705 Cr (+1.37% pts)
- DDB DEWAN HSG FINANCE CORPORATION LTDup ₹204 Cr (+0.40% pts)
- Krishna Institute Of Medical Sciences Limitedup ₹71.6 Cr (+0.16% pts)
- BEML Limitedup ₹10.7 Cr (+0.06% pts)
- Torrent Power Limitedup ₹3.5 Cr (+0.02% pts)
- Ajanta Pharma Limitedup ₹3.1 Cr (+0.07% pts)
Trimmed Biggest reductions
- Axis Bank Limiteddown ₹302 Cr (−0.34% pts)
- ICICI Bank Limiteddown ₹291 Cr (−0.20% pts)
- State Bank of Indiadown ₹239 Cr (−0.17% pts)
- Larsen & Toubro Limiteddown ₹223 Cr (−0.19% pts)
- Bharat Electronics Limiteddown ₹212 Cr (−0.06% pts)
- Maruti Suzuki India Limiteddown ₹126 Cr (−0.12% pts)
- Infosys Limiteddown ₹120 Cr (−0.12% pts)
- Bharat Forge Limiteddown ₹118 Cr (−0.07% pts)
- Thermax Limiteddown ₹111 Cr (−0.12% pts)
- Jindal Steel & Power Limiteddown ₹110 Cr (+0.04% 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 Retailing (+1.5 pts) and Finance (+0.3 pts), and fell most in IT - Software (−0.9 pts) and Diversified FMCG (−0.7 pts).
- Retailing5.0% → 6.6%+1.5 pts
- Finance3.6% → 3.8%+0.3 pts
- Pharmaceuticals & Biotechnology6.3% → 6.5%+0.3 pts
- Chemicals & Petrochemicals6.9% → 7.1%+0.2 pts
- Healthcare Services0.9% → 1.1%+0.2 pts
- Power2.4% → 2.6%+0.1 pts
- IT - Software3.9% → 3.0%−0.9 pts
- Diversified FMCG0.7% → 0.0%exited−0.7 pts
- Banks23.6% → 23.2%−0.4 pts
- Construction3.8% → 3.6%−0.2 pts
- Electrical Equipment1.5% → 1.4%−0.1 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 | 23.6% | 23.2% |
| Chemicals & Petrochemicals | 6.9% | 7.1% |
| Retailing | 5.0% | 6.6% |
| Pharmaceuticals & Biotechnology | 6.3% | 6.5% |
| Aerospace & Defense | 5.5% | 5.4% |
| Cement & Cement Products | 5.0% | 5.0% |
| Ferrous Metals | 4.1% | 4.1% |
| Telecom - Services | 3.7% | 3.8% |
| Finance | 3.6% | 3.8% |
| Automobiles | 3.9% | 3.8% |
Allocation in Sep 2026change vs Aug 2026
- Banks (7)23.2%▼ 0.4 pts
- Chemicals & Petrochemicals (3)7.1%▲ 0.2 pts
- Retailing (3)6.6%▲ 1.5 pts
- Pharmaceuticals & Biotechnology (4)6.5%▲ 0.3 pts
- Aerospace & Defense (1)5.4%▼ 0.1 pts
- Cement & Cement Products (3)5.0%
- Ferrous Metals (1)4.1%
- Telecom - Services (2)3.8%▲ 0.1 pts
- Finance (3)3.8%▲ 0.3 pts
- Automobiles (2)3.8%▼ 0.1 pts
- Capital Markets (3)3.6%
- Construction (1)3.6%▼ 0.2 pts
- Petroleum Products (2)3.3%▼ 0.1 pts
- Industrial Products (2)3.2%▼ 0.1 pts
- IT - Software (2)3.0%▼ 0.9 pts
- Transport Services (1)2.6%
- Power (3)2.6%▲ 0.1 pts
- Auto Components (3)2.0%
- Gas (1)1.4%
- Electrical Equipment (1)1.4%▼ 0.1 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
1.3%
unchanged vs Aug 2026
- Cash alone
- 1.3%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 1.2% – 1.6%
- lowest to highest · record 1.6% 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.