Banking Stocks Lead as 9 Companies See Over 600 Mutual Funds Holdings in March

Data compiled by ACE MF for March shows that 9 stocks were held by more than 600 mutual fund schemes each.  

These holdings are spread across sectors such as banking, telecom, information technology, and capital goods, indicating where fund exposure remains concentrated. 

Banking Stocks See Highest Participation 

Among these, HDFC Bank had the highest presence, with 753 schemes holding about 381 crore shares valued at ₹2.78 lakh crore. ICICI Bank was held by 739 schemes, with mutual funds owning 199 crore shares worth ₹2.40 lakh crore. 

State Bank of India (SBI) also featured widely, with 706 schemes holding 121 crore shares valued at ₹1.19 lakh crore. Banking stocks accounted for a large share of mutual fund holdings among the top names. 

Telecom and Diversified Companies 

Bharti Airtel was held by 700 schemes, with total holdings of 73.61 crore shares valued at ₹1.31 lakh crore. 

Reliance Industries appeared in 667 schemes, with mutual funds holding 129.99 crore shares worth ₹1.74 lakh crore. Axis Bank was held by 637 schemes, with 102.66 crore shares valued at ₹1.19 lakh crore. 

IT, Industrial and Auto Stocks 

In the IT segment, Infosys was part of 628 schemes, with holdings of 89.19 crore shares worth ₹1.11 lakh crore. 

Larsen & Toubro (L&T) was held by 613 schemes, with mutual funds owning 28.03 crore shares valued at ₹98,222 crore. 

Mahindra & Mahindra (M&M) was held by 599 schemes, with holdings of 21.15 crore shares worth ₹62,514 crore. 

Read More: Mutual Funds Cash Holdings Drop to 16-Month Low in March 2026! 

Conclusion 

The data indicates that mutual fund holdings in March remained centred on a limited set of large-cap stocks, with higher participation in banking names alongside select companies in other sectors. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.   
 
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