SBI Mutual Fund Portfolio: HDFC Bank and 9 other top stock holdings and November allocation updates

Synopsis: SBI Mutual Fund is one of India’s leading asset management companies. In this article, let’s take a look at the top 10 stock holdings and changes in SBI Mutual Fund as of November, which include HDFC, Reliance, ICICI, Airtel, and others.

SBI Mutual Fund was founded on June 29, 1987, as a trust, with the State Bank of India (SBI) serving as its sponsor and SBI Mutual Fund Trustee Company Private Limited acting as the trustee. The fund was officially registered with SEBI on December 23, 1993. On April 13, 2011, SBI formed a strategic partnership with Amundi Asset Management, transforming the fund house into a joint venture.

Today, SBI Mutual Fund is one of India’s leading asset management companies. It offers a wide range of mutual fund schemes across equity, debt, hybrid, and other categories to meet different financial goals. SBI Mutual Fund, the largest fund house based on assets managed, had an AUM of Rs 12.76 lakh crore in November and managed 125 funds. 

HDFC Bank Ltd

HDFC Bank Ltd. is India’s largest private sector bank, a major financial conglomerate offering retail, wholesale, and treasury banking, along with insurance, asset management, and wealth management through its group, known for innovation, strong customer service, and being part of the larger HDFC Group, which merged its housing finance arm into the bank in 2022.

In November, SBI Mutual Fund maintained its highest allocation in HDFC Bank at approximately 9.3 percent. The fund house sold 10.11 lakh shares from its portfolio, but the overall weight remained unchanged from the previous month.

Reliance Industries Limited

Reliance Industries Limited (RIL) is India’s largest private conglomerate, a Fortune 500 company led by Mukesh Ambani, evolving from textiles to an energy, retail, digital (Jio), and new energy giant, focusing on growth through innovation, energy security, digital transformation, and massive retail presence, with a net-zero target by 2035. 

In November, SBI Mutual Fund held a 6 percent allocation in RIL. The fund house sold around 9.78 lakh shares from its portfolio, which led to a 0.2 percent increase in the stock’s overall weight compared to the previous month.

ICICI Bank Ltd

ICICI Bank Ltd. is India’s largest private sector bank, a major financial services group offering retail, wholesale, treasury, and international banking, known for its strong digital presence (like iMobile Pay) and broad reach in India and globally, evolving from the Industrial Credit and Investment Corporation of India (ICICI) .

In November, SBI Mutual Fund had a 5.6 percent allocation in ICICI Bank. Around 33.30 lakh shares were added to the portfolio, resulting in a 0.1 percent increase in the stock’s weight from the previous month.

Bharti Airtel Limited

Bharti Airtel Limited (Airtel) is a leading Indian global telecom provider, serving over 600 million customers in 15+ countries across Asia & Africa with mobile (2G/3G/4G/5G), broadband (FTTH/FWA), DTH, digital payments, and enterprise solutions.  In November, SBI Mutual Fund had a 3.2 percent allocation in Bharti Airtel, leading to no change in weight from the previous month.

State Bank of India Ltd

State Bank of India (SBI) is India’s largest public sector bank, a Fortune 500 company with roots tracing back over 200 years, offering diverse financial services to millions through a vast domestic (branches, ATMs, BCs) and global network, focusing on customer-centricity, innovation, and core values like service, transparency, and ethics

In November, SBI Mutual Fund had a 3.2 percent allocation in the State Bank of India. Around 19.48 lakh shares of SBI were sold, and 28.02 lakh shares were added, leading to an increase in weight by 0.1 percent for both these stocks.

Infosys Limited 

Infosys Limited is a global leader in digital IT services and consulting, founded in India in 1981, known for helping businesses with digital transformation through AI, cloud, and next-gen tech, offering services from application development to business process management, and serving clients. In November, SBI Mutual Fund had a 3.2 percent allocation in Infosys, leading to an increase in weight by 0.1 percent for both these stocks.

Larsen & Toubro Ltd

Larsen & Toubro (L&T) is a massive Indian multinational conglomerate, a leader in Engineering, Procurement, and Construction (EPC), Hi-Tech Manufacturing, and Services, operating globally in sectors like infrastructure, defence, energy, IT, and finance. In November, SBI Mutual Fund had an allocation of 2.8 percent in L&T, leading to no change in weight from the previous month.

Kotak Mahindra Bank Limited

Kotak Mahindra Bank Limited (KMBL) is India’s leading private sector bank, part of the broader Kotak Mahindra Group, offering comprehensive financial services from retail & corporate banking, wealth management, and insurance to investment banking, broking, and vehicle finance. In November, SBI Mutual Fund had an allocation of 2.6 percent in Kotak Mahindra Bank, leading to a decline in weight by 0.1 percent from the previous month.

Axis Bank Limited

Axis Bank Limited is India’s third-largest private sector bank, offering a full range of financial services from retail to corporate banking, known for its “Dil Se Open” philosophy focused on customer-centricity, technology, and inclusive growth, serving millions of customers across India and internationally with a vast network. In November, SBI Mutual Fund had an allocation of 2.3 percent in Axis Bank, leading to no change in weight from the previous month.

ITC Limited

ITC Limited is a diversified Indian conglomerate with major businesses in Fast Moving Consumer Goods (FMCG), Hotels, Paperboards & Packaging, Agri Business, and Information Technology. In November, SBI Mutual Fund had an allocation of 1.9 percent in ITC, leading to a decline in weight by 0.1 percent from the previous month.

Written By Sridhar J

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