Mutual Funds Holding Max Financial Services Limited

Financial Services154 fundsISIN INE180A01020

As of 31 July 2026, 154 Indian mutual funds hold Max Financial Services Limited (Financial Services), led by DSP Banking & Financial Services Fund at 4.18% of its net assets, per the AMCs' SEBI-mandated monthly disclosures.

As of 31 July 2026, 154 Indian mutual fund schemes disclose a holding in Max Financial Services Limited (Financial Services). The table below lists every fund holding this stock along with its weight as a percentage of the fund's net assets (% to NAV), sorted from the highest conviction position downward.

Holding Analysis

Across the 154 funds holding Max Financial Services Limited, the average position size is 1.11% of net assets. The highest-conviction holder is DSP Banking & Financial Services Fund (Thematic), at 4.18%. Equity funds account for 77 of the 154 holders, with the rest spread across 2 other categories. Over the last month, 1 fund initiated a new position and 8 funds exited, with the largest weight change at TRUSTMF Mid Cap Fund (-1.43pp to 0.85%).

Fund Activity Last Month

How funds changed their Max Financial Services Limited position between their two latest monthly disclosures. Weights are % to NAV; weight moves can also reflect price changes, not only buying or selling.

1 started a position8 exited13 increased15 reduced

New Positions

JioBlackRock Sector Rotation Fund at 0.1%

Complete Exits

ICICI Prudential Active Momentum Fund was 2.02%
LIC MF FLEXI CAP FUND was 1.98%
LIC MF LARGE & MID CAP FUND was 1.4%
Aditya Birla Sun Life Quant Fund was 1.28%
TRUSTMF Flexi Cap Fund was 0.91%
JioBlackRock Large Cap Fund was 0.55%
Kotak Quant Fund was 0.33%
Aditya Birla Sun Life Equity Hybrid '95 Fund was 0.21%

Weight Increased

Fund	Weight	Change
Franklin India Large & Mid Cap Fund	1.91% → 2.85%	▲ +0.94
DSP Banking & Financial Services Fund	3.29% → 4.18%	▲ +0.89
Groww Multicap Fund	1.23% → 1.74%	▲ +0.51
CANARA ROBECO MID CAP FUND	1.98% → 2.34%	▲ +0.36
DSP Multicap Fund	2.36% → 2.71%	▲ +0.35
PGIM INDIA SMALL CAP FUND	0.95% → 1.24%	▲ +0.29
DSP Mid Cap Fund	2.31% → 2.57%	▲ +0.26
DSP Dynamic Asset Allocation Fund	0.75% → 1%	▲ +0.25
DSP ELSS Tax Saver Fund	1.75% → 1.94%	▲ +0.19
DSP India T.I.G.E.R. Fund	1.66% → 1.85%	▲ +0.19
Nippon India Innovation Fund	0.8% → 0.99%	▲ +0.19
TATA MULTI ASSET ALLOCATION FUND	0.72% → 0.91%	▲ +0.19
DSP Large & Mid Cap Fund	1.72% → 1.89%	▲ +0.17

Weight Reduced

Fund	Weight	Change
TRUSTMF Mid Cap Fund	2.28% → 0.85%	▼ -1.43
SBI Midcap Fund	1.77% → 0.62%	▼ -1.15
SBI Flexicap Fund	2.07% → 1%	▼ -1.07
JioBlackRock Flexi Cap Fund	1.38% → 0.62%	▼ -0.76
Bajaj Finserv Flexi Cap Fund	1.43% → 0.85%	▼ -0.58
Invesco India Midcap Fund	3.59% → 3.05%	▼ -0.54
HDFC Mid Cap Fund	4.1% → 3.72%	▼ -0.38
Mahindra Manulife Banking & Financial Services Fund	3.28% → 2.94%	▼ -0.34
Baroda BNP Paribas ELSS Tax Saver Fund	1.77% → 1.48%	▼ -0.29
NIPPON INDIA MULTI CAP FUND	1.93% → 1.66%	▼ -0.27
HSBC Financial Services Fund	2.32% → 2.08%	▼ -0.24
Invesco India Large Mid Cap Fund	1.7% → 1.46%	▼ -0.24
CANARA ROBECO BANKING AND FINANCIAL SERVICES FUND	2.91% → 2.68%	▼ -0.23
Mahindra Manulife Mid Cap Fund	2.43% → 2.2%	▼ -0.23
WhiteOak Capital Large & Mid Cap Fund	2.34% → 2.11%	▼ -0.23

Funds Holding Max Financial Services Limited

#	Fund	AMC	Category	% to NAV
1	DSP Banking & Financial Services Fund	DSP Mutual Fund	Thematic	4.18%
2	HDFC Mid Cap Fund	HDFC Mutual Fund	Equity	3.72%
3	WhiteOak Capital Mid Cap Fund	WhiteOak Capital Mutual Fund	Equity	3.11%
4	Invesco India Midcap Fund	Invesco Mutual Fund	Equity	3.05%
5	Mahindra Manulife Banking & Financial Services Fund	Mahindra Manulife Mutual Fund	Thematic	2.94%
6	Franklin India Large & Mid Cap Fund	Franklin Templeton Mutual Fund	Equity	2.85%
7	TATA MID CAP FUND	Tata Mutual Fund	Equity	2.72%
8	DSP Multicap Fund	DSP Mutual Fund	Equity	2.71%
9	CANARA ROBECO BANKING AND FINANCIAL SERVICES FUND	Canara Robeco Mutual Fund	Thematic	2.68%
10	Aditya Birla Sun Life Midcap Fund	Aditya Birla Sun Life Mutual Fund	Equity	2.57%
11	DSP Mid Cap Fund	DSP Mutual Fund	Equity	2.57%
12	JM Large and Midcap Fund	JM Financial Mutual Fund	Equity	2.35%
13	CANARA ROBECO MID CAP FUND	Canara Robeco Mutual Fund	Equity	2.34%
14	Baroda BNP Paribas Health and Wellness Fund	Baroda BNP Paribas Mutual Fund	Thematic	2.27%
15	Aditya Birla Sun Life Large & Mid Cap Fund	Aditya Birla Sun Life Mutual Fund	Equity	2.25%
16	Mahindra Manulife Mid Cap Fund	Mahindra Manulife Mutual Fund	Equity	2.2%
17	NIPPON INDIA BANKING & FINANCIAL SERVICES FUND	Nippon India Mutual Fund	Thematic	2.15%
18	Baroda BNP Paribas Large & Mid Cap Fund	Baroda BNP Paribas Mutual Fund	Equity	2.14%
19	WhiteOak Capital Large & Mid Cap Fund	WhiteOak Capital Mutual Fund	Equity	2.11%
20	HSBC Financial Services Fund	HSBC Mutual Fund	Thematic	2.08%
21	DSP Flexi Cap Fund	DSP Mutual Fund	Equity	2.02%
22	JM ELSS Tax Saver Fund	JM Financial Mutual Fund	Equity	1.98%
23	Baroda BNP Paribas Innovation Fund	Baroda BNP Paribas Mutual Fund	Thematic	1.94%
24	DSP ELSS Tax Saver Fund	DSP Mutual Fund	Equity	1.94%
25	DSP Large & Mid Cap Fund	DSP Mutual Fund	Equity	1.89%
26	Mahindra Manulife Innovation Opportunities Fund	Mahindra Manulife Mutual Fund	Thematic	1.88%
27	UTI - Mid Cap Fund	UTI Mutual Fund	Equity	1.88%
28	Sundaram Mid Cap Fund	Sundaram Mutual Fund	Equity	1.87%
29	DSP India T.I.G.E.R. Fund	DSP Mutual Fund	Thematic	1.85%
30	WhiteOak Capital Banking & Financial Services Fund	WhiteOak Capital Mutual Fund	Thematic	1.85%
31	Groww Banking & Financial Services Fund	Groww Mutual Fund	Thematic	1.84%
32	PGIM INDIA MIDCAP FUND	PGIM India Mutual Fund	Equity	1.82%
33	Mirae Asset Midcap Fund	Mirae Asset Mutual Fund	Equity	1.79%
34	LIC MF BANKING AND FINANCIAL SERVICES FUND	LIC Mutual Fund	Thematic	1.78%
35	Groww Multicap Fund	Groww Mutual Fund	Equity	1.74%
36	Bajaj Finserv Multi Cap Fund	Bajaj Finserv Mutual Fund	Equity	1.7%
37	TATA BANKING & FINANCIAL SERVICES FUND	Tata Mutual Fund	Thematic	1.68%
38	NIPPON INDIA MULTI CAP FUND	Nippon India Mutual Fund	Equity	1.66%
39	UTI - Banking and Financial Services Fund	UTI Mutual Fund	Thematic	1.62%
40	CANARA ROBECO CONSUMPTION FUND	Canara Robeco Mutual Fund	Thematic	1.6%
41	WhiteOak Capital ESG Best-In-Class Strategy Fund	WhiteOak Capital Mutual Fund	Thematic	1.57%
42	Baroda BNP Paribas Banking & Financial Services Fund	Baroda BNP Paribas Mutual Fund	Thematic	1.54%
43	Baroda BNP Paribas ELSS Tax Saver Fund	Baroda BNP Paribas Mutual Fund	Equity	1.48%
44	CANARA ROBECO MULTI ASSET ALLOCATION FUND	Canara Robeco Mutual Fund	Hybrid	1.48%
45	HDFC Banking & Financial Services Fund	HDFC Mutual Fund	Thematic	1.46%
46	Invesco India Large Mid Cap Fund	Invesco Mutual Fund	Equity	1.46%
47	Baroda BNP Paribas Mid Cap Fund	Baroda BNP Paribas Mutual Fund	Equity	1.45%
48	Nippon India Growth Mid Cap Fund	Nippon India Mutual Fund	Equity	1.45%
49	PGIM INDIA MULTI CAP FUND	PGIM India Mutual Fund	Equity	1.44%
50	WhiteOak Capital Multi Cap Fund	WhiteOak Capital Mutual Fund	Equity	1.44%
51	HDFC Large and Mid Cap Fund	HDFC Mutual Fund	Equity	1.3%
52	Invesco India Financial Services Fund	Invesco Mutual Fund	Thematic	1.3%
53	Sundaram Multi Cap Fund	Sundaram Mutual Fund	Equity	1.29%
54	Aditya Birla Sun Life Multi-Cap Fund	Aditya Birla Sun Life Mutual Fund	Equity	1.27%
55	Sundaram Large and Mid Cap Fund	Sundaram Mutual Fund	Equity	1.25%
56	Kotak Midcap Fund	Kotak Mahindra Mutual Fund	Equity	1.24%
57	PGIM INDIA SMALL CAP FUND	PGIM India Mutual Fund	Equity	1.24%
58	Franklin India Mid Cap Fund	Franklin Templeton Mutual Fund	Equity	1.23%
59	Nippon India ELSS Tax Saver Fund	Nippon India Mutual Fund	Equity	1.21%
60	Helios Mid Cap Fund	Helios Mutual Fund	Equity	1.16%
61	WhiteOak Capital Quality Equity Fund	WhiteOak Capital Mutual Fund	Equity	1.16%
62	UTI Large & Mid Cap Fund	UTI Mutual Fund	Equity	1.15%
63	Baroda BNP Paribas Multi Cap Fund	Baroda BNP Paribas Mutual Fund	Equity	1.14%
64	CANARA ROBECO ELSS TAX SAVER	Canara Robeco Mutual Fund	Equity	1.13%
65	ICICI Prudential Banking & Financial Services Fund	ICICI Prudential Mutual Fund	Thematic	1.12%
66	TATA BALANCED ADVANTAGE FUND	Tata Mutual Fund	Hybrid	1.12%
67	Groww Value Fund	Groww Mutual Fund	Equity	1.1%
68	LIC MF MULTI CAP FUND	LIC Mutual Fund	Equity	1.09%
69	HDFC Value Fund	HDFC Mutual Fund	Equity	1.06%
70	Bajaj Finserv Banking and Financial Services Fund	Bajaj Finserv Mutual Fund	Thematic	1.04%
71	WhiteOak Capital ELSS Tax Saver Fund	WhiteOak Capital Mutual Fund	Equity	1.01%
72	DSP Dynamic Asset Allocation Fund	DSP Mutual Fund	Hybrid	1%
73	SBI Flexicap Fund	SBI Mutual Fund	Equity	1%
74	Nippon India Innovation Fund	Nippon India Mutual Fund	Thematic	0.99%
75	WhiteOak Capital Flexi Cap Fund	WhiteOak Capital Mutual Fund	Equity	0.97%
76	Aditya Birla Sun Life Elss Tax Saver Fund	Aditya Birla Sun Life Mutual Fund	Equity	0.96%
77	Sundaram Flexi Cap Fund	Sundaram Mutual Fund	Equity	0.95%
78	CANARA ROBECO MULTI CAP FUND	Canara Robeco Mutual Fund	Equity	0.94%
79	NIPPON INDIA VALUE FUND	Nippon India Mutual Fund	Equity	0.94%
80	Sundaram ELSS Tax Saver Fund	Sundaram Mutual Fund	Equity	0.94%
81	WhiteOak Capital Large Cap Fund	WhiteOak Capital Mutual Fund	Equity	0.94%
82	JM Arbitrage Fund	JM Financial Mutual Fund	Hybrid	0.93%
83	CANARA ROBECO FLEXICAP FUND	Canara Robeco Mutual Fund	Equity	0.91%
84	Mahindra Manulife Multi Cap Fund	Mahindra Manulife Mutual Fund	Equity	0.91%
85	TATA MULTI ASSET ALLOCATION FUND	Tata Mutual Fund	Hybrid	0.91%
86	Navi Large & Midcap Fund	Navi Mutual Fund	Equity	0.89%
87	PGIM INDIA LARGE AND MIDCAP FUND	PGIM India Mutual Fund	Equity	0.89%
88	Groww ELSS Tax Saver Fund	Groww Mutual Fund	Equity	0.86%
89	Bajaj Finserv Flexi Cap Fund	Bajaj Finserv Mutual Fund	Equity	0.85%
90	TRUSTMF Mid Cap Fund	Trust Mutual Fund	Equity	0.85%
91	CANARA ROBECO EQUITY HYBRID FUND	Canara Robeco Mutual Fund	Hybrid	0.84%
92	DSP Small Cap Fund	DSP Mutual Fund	Equity	0.83%
93	Kotak Banking and Financial Services Fund	Kotak Mahindra Mutual Fund	Thematic	0.82%
94	Sundaram Arbitrage Fund	Sundaram Mutual Fund	Hybrid	0.82%
95	JioBlackRock Arbitrage Fund	Jio BlackRock Mutual Fund	Hybrid	0.8%
96	LIC MF EQUITY SAVINGS FUND	LIC Mutual Fund	Hybrid	0.8%
97	DSP Business Cycle Fund	DSP Mutual Fund	Thematic	0.78%
98	Aditya Birla Sun Life Flexi Cap Fund	Aditya Birla Sun Life Mutual Fund	Equity	0.77%
99	HDFC Multi Cap Fund	HDFC Mutual Fund	Equity	0.73%
100	Mahindra Manulife Large & Mid Cap Fund	Mahindra Manulife Mutual Fund	Equity	0.73%
101	Kotak Flexicap Fund	Kotak Mahindra Mutual Fund	Equity	0.72%
102	Mirae Asset Arbitrage Fund	Mirae Asset Mutual Fund	Hybrid	0.66%
103	JioBlackRock Flexi Cap Fund	Jio BlackRock Mutual Fund	Equity	0.62%
104	SBI Midcap Fund	SBI Mutual Fund	Equity	0.62%
105	WhiteOak Capital Arbitrage Fund	WhiteOak Capital Mutual Fund	Hybrid	0.62%
106	Groww Aggressive Hybrid Fund	Groww Mutual Fund	Hybrid	0.61%
107	SBI Conservative Hybrid Fund	SBI Mutual Fund	Hybrid	0.59%
108	WhiteOak Capital Aggressive Hybrid Fund	WhiteOak Capital Mutual Fund	Hybrid	0.59%
109	UTI Aggressive Hybrid Fund	UTI Mutual Fund	Hybrid	0.56%
110	HDFC Equity Savings Fund	HDFC Mutual Fund	Hybrid	0.53%
111	Groww Multi Asset Allocation Fund	Groww Mutual Fund	Hybrid	0.52%
112	Baroda BNP Paribas Equity Savings Fund	Baroda BNP Paribas Mutual Fund	Hybrid	0.51%
113	WhiteOak Capital Balanced Advantage Fund	WhiteOak Capital Mutual Fund	Hybrid	0.5%
114	UTI Multi Asset Allocation Fund	UTI Mutual Fund	Hybrid	0.47%
115	Aditya Birla Sun Life Multi Asset Allocation Fund	Aditya Birla Sun Life Mutual Fund	Hybrid	0.46%
116	Mahindra Manulife Balanced Advantage Fund	Mahindra Manulife Mutual Fund	Hybrid	0.46%
117	Bajaj Finserv Balanced Advantage Fund	Bajaj Finserv Mutual Fund	Hybrid	0.45%
118	Shriram ELSS Tax Saver Fund	Shriram Mutual Fund	Equity	0.43%
119	Shriram Flexi Cap Fund	Shriram Mutual Fund	Equity	0.42%
120	WhiteOak Capital Balanced Hybrid Fund	WhiteOak Capital Mutual Fund	Hybrid	0.4%
121	Baroda BNP Paribas Conservative Hybrid Fund	Baroda BNP Paribas Mutual Fund	Hybrid	0.39%
122	ICICI Prudential Flexicap Fund	ICICI Prudential Mutual Fund	Equity	0.37%
123	NIPPON INDIA EQUITY SAVINGS FUND	Nippon India Mutual Fund	Hybrid	0.37%
124	SBI Arbitrage Opportunities Fund	SBI Mutual Fund	Hybrid	0.35%
125	HSBC Arbitrage Fund	HSBC Mutual Fund	Hybrid	0.34%
126	Helios Small Cap Fund	Helios Mutual Fund	Equity	0.3%
127	ICICI Prudential Arbitrage Fund	ICICI Prudential Mutual Fund	Hybrid	0.3%
128	Samco Dynamic Asset Allocation Fund	Samco Mutual Fund	Hybrid	0.3%
129	HSBC Equity Savings Fund	HSBC Mutual Fund	Hybrid	0.28%
130	UTI Quant Fund	UTI Mutual Fund	Equity	0.28%
131	NIPPON INDIA LARGE CAP FUND	Nippon India Mutual Fund	Equity	0.26%
132	WhiteOak Capital Multi Asset Allocation Fund	WhiteOak Capital Mutual Fund	Hybrid	0.24%
133	Mirae Asset Equity Savings Fund	Mirae Asset Mutual Fund	Hybrid	0.23%
134	Aditya Birla Sun Life Arbitrage Fund	Aditya Birla Sun Life Mutual Fund	Hybrid	0.22%
135	Aditya Birla Sun Life Regular Savings Fund	Aditya Birla Sun Life Mutual Fund	Hybrid	0.22%
136	HDFC Arbitrage Fund	HDFC Mutual Fund	Hybrid	0.21%
137	Franklin India Equity Savings Fund	Franklin Templeton Mutual Fund	Hybrid	0.2%
138	NIPPON INDIA ARBITRAGE FUND	Nippon India Mutual Fund	Hybrid	0.2%
139	Bajaj Finserv Arbitrage Fund	Bajaj Finserv Mutual Fund	Hybrid	0.19%
140	WhiteOak Capital Equity Savings Fund	WhiteOak Capital Mutual Fund	Hybrid	0.17%
141	DSP Arbitrage Fund	DSP Mutual Fund	Hybrid	0.14%
142	Axis Arbitrage Fund	Axis Mutual Fund	Hybrid	0.13%
143	JioBlackRock Sector Rotation Fund	Jio BlackRock Mutual Fund	Thematic	0.1%
144	LIC MF ARBITRAGE FUND	LIC Mutual Fund	Hybrid	0.09%
145	SBI Equity Savings Fund	SBI Mutual Fund	Hybrid	0.08%
146	ICICI Prudential Balanced Advantage Fund	ICICI Prudential Mutual Fund	Hybrid	0.07%
147	Motilal Oswal Arbitrage Fund	Motilal Oswal Mutual Fund	Hybrid	0.06%
148	Unifi Dynamic Asset Allocation Fund	Unifi Mutual Fund	Hybrid	0.04%
149	HSBC Midcap Fund	HSBC Mutual Fund	Equity	0.03%
150	ICICI Prudential Equity Savings Fund	ICICI Prudential Mutual Fund	Hybrid	0%
151	Kotak Arbitrage Fund	Kotak Mahindra Mutual Fund	Hybrid	0%
152	Kotak Equity Savings Fund	Kotak Mahindra Mutual Fund	Hybrid	0%
153	TATA ARBITRAGE FUND	Tata Mutual Fund	Hybrid	0%
154	UTI - Arbitrage Fund	UTI Mutual Fund	Hybrid	0%

Want to interpret these weights? Read How to Read a Mutual Fund's Monthly Portfolio Disclosure, or look up terms like % to NAV and conviction in the glossary.

Source: SEBI-mandated monthly portfolio disclosures by Indian AMCs. Percentages are of each fund's net assets on its latest disclosure date. For information only, not investment advice.