SBI Mutual Fund remained India’s largest mutual fund house with assets under management (AUM) of ₹12.80 lakh crore as of May 31, 2026. According to portfolio data compiled by Motilal Oswal Financial Services, the fund house continued to maintain significant exposure to large-cap companies, particularly across banking, financial services, technology, telecom, and infrastructure.
Top 10 Holdings of SBI Mutual Fund (May 2026)
Rank Stock Portfolio Weight Portfolio Activity
1 HDFC Bank Limited 6.8% Sold 94.53 lakh shares
2 ICICI Bank Limited 6.4% Bought 1.89 crore shares
3 Reliance Industries Limited 5.3% Bought 1.10 crore shares
4 State Bank of India 3.5% Sold 97.70 lakh shares
5 Bharti Airtel Limited 3.4% Bought 35.11 lakh shares
6 Larsen & Toubro Limited 3.0% Bought 9.86 lakh shares
7 Kotak Mahindra Bank Limited 2.8% Weight unchanged
8 Axis Bank Limited 2.5% Weight unchanged
9 Infosys Limited 2.3% Sold 11.68 lakh shares
10 Bajaj Finance Limited 1.6% Bought 40.16 lakh shares
Banking Stocks Continue to Dominate
HDFC Bank
HDFC Bank Limited remained the largest holding, accounting for 6.8% of the overall portfolio.
Sold approximately 94.53 lakh shares
Portfolio weight reduced by 0.4 percentage points compared to April
ICICI Bank
ICICI Bank Limited ranked second with a 6.4% allocation.
Purchased nearly 1.89 crore shares
Portfolio weight increased by 0.2 percentage points
Reliance Industries Remains Largest Non-Banking Holding
Reliance Industries Limited represented 5.3% of the portfolio.
Added around 1.10 crore shares
Portfolio weight declined by 0.3 percentage points, reflecting changes in valuation despite increased holdings.
Other Key Portfolio Movements
Bharti Airtel Limited: 3.4% allocation, with 35.11 lakh shares added.
Larsen & Toubro Limited: 3.0% allocation, after adding 9.86 lakh shares.
State Bank of India: 3.5% allocation, following the sale of 97.70 lakh shares, reducing portfolio weight by 0.5 percentage points.
Infosys Limited: 2.3% allocation, after selling 11.68 lakh shares.
Bajaj Finance Limited: 1.6% allocation, with the addition of 40.16 lakh shares.
Portfolio Overview
The May 2026 portfolio indicates that SBI Mutual Fund continues to favour:
Large-cap private and public sector banks
Diversified conglomerates
Information technology companies
Telecom leaders
Infrastructure and engineering firms
While several holdings saw changes in the number of shares owned, the overall allocation across the top positions remained relatively stable, reflecting a continued focus on established large-cap businesses with strong market positions.
Disclaimer:
This article is intended solely for educational and informational purposes. The securities or companies mentioned are provided as examples and should not be considered as recommendations. Nothing contained herein constitutes personal financial advice or investment recommendations. Readers are advised to conduct their own research and consult a qualified financial advisor before making any investment decisions.
Investments in securities markets are subject to market risks. Please read all related documents carefully before investing.
