What Changed in Mutual Funds - February 2026

We tracked 1100 funds across 25 AMCs this month. Here are the most significant portfolio changes.

Stocks Funds Are Buying

HDFC Bank Limited was added by 192 new funds this month, including ADITYA BIRLA SUN LIFE BSE TOP 10 BANKS ETF, Baroda BNP Paribas NIFTY BANK ETF, and Axis NIFTY Bank ETF. This points to fresh institutional interest in banks. ICICI Bank Limited was added by 192 new funds this month, including HDFC NIFTY Private Bank ETF, ICICI Prudential Nifty Private Bank ETF, and SBI Nifty Private Bank ETF. This points to fresh institutional interest in banks. Bharti Airtel Limited was added by 180 new funds this month, including Franklin India Technology Fund, Kotak Technology Fund, and EDELWEISS BSE INTERNET ECONOMY INDEX FUND. This points to fresh institutional interest in telecom - services. Axis Bank Limited was added by 179 new funds this month, including HDFC NIFTY Private Bank ETF, ICICI Prudential Nifty Private Bank ETF, and SBI Nifty Private Bank ETF. This points to fresh institutional interest in banks. State Bank of India was added by 174 new funds this month, including HDFC NIFTY PSU BANK ETF, ICICI Prudential Nifty PSU Bank ETF, and Mirae Asset Nifty PSU Bank ETF. This points to fresh institutional interest in banks.

Stocks Funds Are Dumping

ANGEL ONE LIMITED was dropped by 75 funds. The heaviest prior holders included TATA NIFTY CAPITAL MARKETS INDEX FUND and Motilal Oswal Nifty Capital Market Index Fund. Kwality Wall's India Ltd was dropped by 61 funds. The heaviest prior holders included Motilal Oswal Nifty MNC ETF and IB21-Groww Nifty Non-Cycl Consumer Index Fund. KWALITY WALLS INDIA LIMITED was dropped by 21 funds. The heaviest prior holders included Kotak Nifty MNC ETF and Kotak MNC Fund. KWALITY WALLS INDIA LTD was dropped by 14 funds. The heaviest prior holders included TATA ETHICAL FUND and TATA LARGE CAP FUND. 7.60% REC Limited (28/02/2026) was dropped by 9 funds. The heaviest prior holders included Axis Fixed Term Plan - Series 113 (1228 Days) and Kotak FMP Series 308.

Biggest Overlap Shifts

• IB29-Groww Multicap Fund vs IB60-Groww Small Cap Fund: overlap moved from 5.7% to 27.4% (+21.6%)
• Motilal Oswal Nifty 500 Momentum 50 ETF vs Samco Dynamic Asset Allocation Fund: overlap moved from 42.0% to 23.0% (-18.9%)
• Motilal Oswal Nifty 500 Momentum 50 Index Fund vs Samco Dynamic Asset Allocation Fund: overlap moved from 42.0% to 23.0% (-18.9%)
• Axis Nifty500 Momentum 50 Index Fund vs Samco Dynamic Asset Allocation Fund: overlap moved from 42.0% to 23.0% (-18.9%)
• IB35-Groww Nifty 500 Momentum 50 ETF vs Samco Dynamic Asset Allocation Fund: overlap moved from 42.0% to 23.0% (-18.9%)

Sector Rotation

• Banks: 3129 to 4994 fund-stock positions (up)
• Pharmaceuticals & Biotechnology: 2642 to 4260 fund-stock positions (up)
• Finance: 2735 to 4131 fund-stock positions (up)
• IT - Software: 2007 to 3217 fund-stock positions (up)
• Consumer Durables: 1665 to 2715 fund-stock positions (up)

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How do these changes affect your portfolio? Check your overlap score →

Data source: SEBI-mandated monthly portfolio disclosures across 25 tracked AMCs.