Is my mutual fund portfolio diversified?

I am 38 years old. I am currently investing Rs 59,500 per month via SIP in the following mutual funds:
Mirae Asset Large Cap Fund: Rs 5,000
Mirae Asset Emerging Bluechip Fund: Rs 3,500
HDFC Top 100 Fund: Rs 3,000
Aditya Birla Sun Life Frontline Equity Fund: Rs 3,500
Axis Multicap Fund: Rs 3,500
L&T India Value Fund: Rs 3,500
Franklin India Focused Equity Fund: Rs 2,500
SBI Small Cap Fund: Rs 2,500
ICICI Prudential Bluechip Fund: Rs 3,500
Kotak Standard Multicap Fund: Rs 5,000
SBI Bluechip Fund: Rs 5,000
Franklin India Equity Advantage Fund: Rs 3,500
HDFC Mid-Cap Opportunities Fund: Rs 3,500
Invesco India Contra Fund: Rs 2,500
BNP Paribas Large Cap Fund: Rs 3500
Motilal Oswal Multicap 35 Fund: 3,500
Nippon India Small Cap Fund: Rs 2,500

Am I on the right track? Is my portfolio diversified? What should be my strategy?

I have discontinued a few SIPs in Sundaram Mid Cap Fund, Motilal Oswal Midcap 30 Fund, and DSP Small Cap Fund after investing for 3.5 years. However, I am still holding on to the capital accumulated. What should be my strategy for these plans? I have a long-term investment horizon of 15 years.
---Arlene Rberry

Puneet Oberoi, Founder, Excellent Investment Advisorz, responds:

You have not mentioned your goals and how much time you need to achieve those goals. Without these two crucial factors, I won’t be able to tell if you are on the right track. As far as diversification is concerned, most of us believe that diversification is investing in a lot of different funds in the same category. In reality, we are not diversifying, we are investing in the same kind of stocks.

Your portfolio looks overdiversified. You might be over-investing in a few stocks.

For example, you are investing in these mutual funds:

Large cap funds: Mirae Asset Large Cap Fund, HDFC Top 100 , Aditya Birla Sun Life Frontline Equity Fund, ICICI Prudential Bluechip Fund, SBI Bluechip Fund and BNP Paribas Large Cap Fund.

Now, let us look at their top 4 current holdings:
You can see that you are actually not diversifying your portfolio, but leveraging more on a few stocks. Your risk factor increases towards a few stocks, and similarly your returns.

I would ask you to choose one or two good funds from each segment. This will make your portfolio diversified. Before investing, look at the track record of each scheme. There are so many factors to choose a fund, including ratios and fund management team.