What a monthly portfolio filing shows, and what it hides
The filing is the most honest thing a fund publishes about itself. It is also a photograph taken on one day of the month, and it is easy to read more into it than is there.
Once a month every AMC files the complete portfolio of every scheme it runs — every holding, every quantity, every value. It is public, it is standardised, and it is the most useful document a fund produces about itself.
What is in it
- Every holding, not a top ten. Equity, debt, cash, derivatives.
- Quantity and value for each, so you can see both the size of the position and how many shares are behind it.
- The whole fund, adding to 100%, so cash and debt are visible too.
Across everything currently loaded here that comes to 2,400 funds, 49 fund houses, 8,438 distinct securities and roughly ₹100 lakh crore of disclosed assets — as filed on the last day of the month each page states.
The one distinction worth learning
A position can grow for two entirely different reasons: the manager bought more, or the price went up. Only the first is a decision.
Value alone cannot tell them apart. The share count can, because it only moves when somebody trades. A holding whose value rose 20% while the share count stayed flat is a manager who did nothing and a market that moved. A holding whose share count rose 50% is a manager who acted.
This is why the change section on a fund page here compares share counts between filings rather than values, and reports the price effect separately.
What it cannot tell you
Three honest limits:
- It is monthly. A photograph on one date. The manager may have bought on the 1st and sold on the 3rd, and no filing will ever show it.
- There is a lag. Filings appear some days after the month ends, so the newest one you can read is already a few weeks old.
- Month-end is known in advance. A portfolio is being photographed on a date everybody knows. Read a single month's snapshot as one data point, not as proof of anything.
Three questions worth asking of one
- How concentrated is it? Add the top ten. Above 50% you are holding a small number of decisions, whatever the fund is called.
- How much is not equity? A large cash position is a decision too — it can mean caution, or money that arrived faster than it could be deployed.
- Does it match the label? A fund's category sets rules about what it must hold. The filing is where you check whether the name and the contents agree.
Reading one
Every fund page here has the full filed portfolio with sector and market-cap breakdowns, and a section showing what changed since the previous filing — separated into what the manager did and what the market did. Comparing two funds shows where the same companies appear in both.
Analysis, not advice. Holdings are as filed on the date each page states, and mentioning a company is neither a view on it nor a recommendation.