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Sectoral / Thematic · DSP Mutual Fund · AMFI code 153121DSP Business Cycle Fund
Disclosed for 22 months, Dec 2024 to Sep 2026.
Portfolio value
₹1,474 Cr
up ₹4.2 Cr vs Aug 2026
- Stocks held
- 55
- up 3 vs Aug 2026
- Top 10 weight
- 55.6%
- of the portfolio in its ten largest
- Largest position
- 10.8%
- NIFTY Oct26
- Cash & debt
- 6.5%
- cash, money market and debt
- Moves this month
- 3 in · 0 out
- added to 10, trimmed 39
DSP Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from DSP Mutual Fund. In September 2026 it disclosed 55 stocks worth ₹1,474 Cr, up ₹4.2 Cr from Aug 2026. Its largest positions were NIFTY Oct26 (10.8%), ICICI Bank Limited (9.8%), HDFC Bank Limited (9.5%); the ten largest together made up 55.6% of the portfolio, and Banks was the biggest sector at 31.7% of its equity. Cash and debt stood at 6.5%. Compared with Aug 2026 the fund entered 3 new stocks and exited 0.
Against 226 other Sectoral / Thematic funds
Concentration
74%
Top-10 weight is higher than 74% of peers
Breadth
78%
Holds more stocks than 78% of peers
Cash
83%
Holds more cash than 83% of peers
Holdings in September 2026
Download CSVEvery line the fund disclosed, with the change against Aug 2026. Click a column to sort; click a company to see every fund that owns it.
- NIFTY Oct26Derivative
- Weight
- 10.77%
- Δ weight
- up 10.77 pts
- Value
- ₹159 Cr
- Δ value
- up ₹159 Cr
- Status
- New
- Weight
- 9.85%
- Δ weight
- up 0.40 pts
- Value
- ₹145 Cr
- Δ value
- up ₹6.4 Cr
- Status
- Added
- Weight
- 9.55%
- Δ weight
- up 1.06 pts
- Value
- ₹141 Cr
- Δ value
- up ₹15.9 Cr
- Status
- Added
- Cash, TREPS & receivables
- Weight
- 6.52%
- Δ weight
- down 0.25 pts
- Value
- ₹96.1 Cr
- Δ value
- down ₹3.3 Cr
- Status
- Trimmed
- Weight
- 5.42%
- Δ weight
- down 0.34 pts
- Value
- ₹79.9 Cr
- Δ value
- down ₹4.8 Cr
- Status
- Trimmed
- Weight
- 4.44%
- Δ weight
- down 0.15 pts
- Value
- ₹65.5 Cr
- Δ value
- down ₹2 Cr
- Status
- Trimmed
- Weight
- 3.98%
- Δ weight
- down 0.21 pts
- Value
- ₹58.7 Cr
- Δ value
- down ₹3 Cr
- Status
- Trimmed
- Weight
- 3.12%
- Δ weight
- down 0.25 pts
- Value
- ₹45.9 Cr
- Δ value
- down ₹3.5 Cr
- Status
- Trimmed
- Weight
- 3.11%
- Δ weight
- down 0.26 pts
- Value
- ₹45.8 Cr
- Δ value
- down ₹3.6 Cr
- Status
- Trimmed
- Weight
- 2.71%
- Δ weight
- down 0.05 pts
- Value
- ₹40 Cr
- Δ value
- down ₹58 L
- Status
- Trimmed
- Weight
- 2.68%
- Δ weight
- down 0.03 pts
- Value
- ₹39.6 Cr
- Δ value
- down ₹29 L
- Status
- Trimmed
- Weight
- 2.67%
- Δ weight
- down 0.02 pts
- Value
- ₹39.4 Cr
- Δ value
- down ₹12 L
- Status
- Held
- Weight
- 2.63%
- Δ weight
- down 0.01 pts
- Value
- ₹38.7 Cr
- Δ value
- up ₹4 L
- Status
- Held
- Weight
- 2.30%
- Δ weight
- down 0.21 pts
- Value
- ₹33.9 Cr
- Δ value
- down ₹2.9 Cr
- Status
- Trimmed
- Weight
- 2.28%
- Δ weight
- up 0.01 pts
- Value
- ₹33.5 Cr
- Δ value
- up ₹19 L
- Status
- Added
- Weight
- 1.61%
- Δ weight
- down 0.07 pts
- Value
- ₹23.8 Cr
- Δ value
- down ₹1 Cr
- Status
- Trimmed
- Weight
- 1.45%
- Δ weight
- down 0.13 pts
- Value
- ₹21.4 Cr
- Δ value
- down ₹1.8 Cr
- Status
- Trimmed
- Weight
- 1.24%
- Δ weight
- down 0.04 pts
- Value
- ₹18.3 Cr
- Δ value
- down ₹55 L
- Status
- Trimmed
- Weight
- 1.19%
- Δ weight
- up 0.02 pts
- Value
- ₹17.6 Cr
- Δ value
- up ₹28 L
- Status
- Added
- Weight
- 1.18%
- Δ weight
- down 0.14 pts
- Value
- ₹17.5 Cr
- Δ value
- down ₹2 Cr
- Status
- Trimmed
- Weight
- 1.13%
- Δ weight
- up 0.15 pts
- Value
- ₹16.6 Cr
- Δ value
- up ₹2.3 Cr
- Status
- Added
- Weight
- 1.06%
- Δ weight
- down 0.04 pts
- Value
- ₹15.6 Cr
- Δ value
- down ₹60 L
- Status
- Trimmed
- Weight
- 1.04%
- Δ weight
- down 0.02 pts
- Value
- ₹15.4 Cr
- Δ value
- down ₹18 L
- Status
- Trimmed
- Weight
- 0.96%
- Δ weight
- down 0.06 pts
- Value
- ₹14.1 Cr
- Δ value
- down ₹81 L
- Status
- Trimmed
- Weight
- 0.95%
- Δ weight
- down 0.03 pts
- Value
- ₹14 Cr
- Δ value
- down ₹42 L
- Status
- Trimmed
- Weight
- 0.93%
- Δ weight
- up 0.07 pts
- Value
- ₹13.7 Cr
- Δ value
- up ₹1.1 Cr
- Status
- Added
- Weight
- 0.86%
- Δ weight
- up 0.31 pts
- Value
- ₹12.6 Cr
- Δ value
- up ₹4.6 Cr
- Status
- Added
- Weight
- 0.85%
- Δ weight
- up 0.01 pts
- Value
- ₹12.5 Cr
- Δ value
- up ₹22 L
- Status
- Added
- Weight
- 0.83%
- Δ weight
- down 0.33 pts
- Value
- ₹12.2 Cr
- Δ value
- down ₹4.8 Cr
- Status
- Trimmed
- Weight
- 0.81%
- Δ weight
- down 0.06 pts
- Value
- ₹12 Cr
- Δ value
- down ₹83 L
- Status
- Trimmed
- Weight
- 0.78%
- Δ weight
- down 0.07 pts
- Value
- ₹11.5 Cr
- Δ value
- down ₹98 L
- Status
- Trimmed
- Weight
- 0.77%
- Δ weight
- down 0.10 pts
- Value
- ₹11.4 Cr
- Δ value
- down ₹1.5 Cr
- Status
- Trimmed
- Weight
- 0.77%
- Δ weight
- down 0.02 pts
- Value
- ₹11.4 Cr
- Δ value
- down ₹30 L
- Status
- Trimmed
- Weight
- 0.68%
- Δ weight
- down 0.03 pts
- Value
- ₹10 Cr
- Δ value
- down ₹44 L
- Status
- Trimmed
- Weight
- 0.68%
- Δ weight
- down 0.10 pts
- Value
- ₹10 Cr
- Δ value
- down ₹1.4 Cr
- Status
- Trimmed
- Weight
- 0.66%
- Δ weight
- up 0.39 pts
- Value
- ₹9.8 Cr
- Δ value
- up ₹5.7 Cr
- Status
- Added
- Weight
- 0.66%
- Δ weight
- down 0.06 pts
- Value
- ₹9.7 Cr
- Δ value
- down ₹92 L
- Status
- Trimmed
- Weight
- 0.60%
- Δ weight
- down 0.16 pts
- Value
- ₹8.8 Cr
- Δ value
- down ₹2.3 Cr
- Status
- Trimmed
- Weight
- 0.53%
- Δ weight
- down 0.02 pts
- Value
- ₹7.8 Cr
- Δ value
- down ₹27 L
- Status
- Trimmed
- Weight
- 0.52%
- Δ weight
- up 0.03 pts
- Value
- ₹7.6 Cr
- Δ value
- up ₹44 L
- Status
- Added
- Weight
- 0.46%
- Δ weight
- down 0.03 pts
- Value
- ₹6.8 Cr
- Δ value
- down ₹36 L
- Status
- Trimmed
- Weight
- 0.46%
- Δ weight
- down 0.42 pts
- Value
- ₹6.8 Cr
- Δ value
- down ₹6.1 Cr
- Status
- Trimmed
- Weight
- 0.45%
- Δ weight
- down 0.01 pts
- Value
- ₹6.6 Cr
- Δ value
- down ₹19 L
- Status
- Trimmed
- Weight
- 0.43%
- Δ weight
- down 0.02 pts
- Value
- ₹6.3 Cr
- Δ value
- down ₹27 L
- Status
- Trimmed
- Weight
- 0.41%
- Δ weight
- down 0.02 pts
- Value
- ₹6.1 Cr
- Δ value
- down ₹31 L
- Status
- Trimmed
- Weight
- 0.39%
- Δ weight
- down 0.02 pts
- Value
- ₹5.7 Cr
- Δ value
- down ₹33 L
- Status
- Trimmed
- Weight
- 0.39%
- Δ weight
- down 0.08 pts
- Value
- ₹5.7 Cr
- Δ value
- down ₹1.2 Cr
- Status
- Trimmed
- Weight
- 0.37%
- Δ weight
- down 0.04 pts
- Value
- ₹5.4 Cr
- Δ value
- down ₹53 L
- Status
- Trimmed
- Weight
- 0.28%
- Δ weight
- up 0.28 pts
- Value
- ₹4.2 Cr
- Δ value
- up ₹4.2 Cr
- Status
- New
- Weight
- 0.27%
- Δ weight
- down 0.02 pts
- Value
- ₹3.9 Cr
- Δ value
- down ₹22 L
- Status
- Trimmed
- Weight
- 0.24%
- Δ weight
- up 0.24 pts
- Value
- ₹3.5 Cr
- Δ value
- up ₹3.5 Cr
- Status
- New
- Weight
- 0.23%
- Δ weight
- down 0.03 pts
- Value
- ₹3.4 Cr
- Δ value
- down ₹38 L
- Status
- Trimmed
- Weight
- 0.22%
- Δ weight
- down 0.02 pts
- Value
- ₹3.3 Cr
- Δ value
- down ₹26 L
- Status
- Trimmed
- Weight
- 0.21%
- Δ weight
- down 0.02 pts
- Value
- ₹3.2 Cr
- Δ value
- down ₹22 L
- Status
- Trimmed
- Weight
- 0.21%
- Δ weight
- down <0.01 pts
- Value
- ₹3.1 Cr
- Δ value
- down ₹3 L
- Status
- Trimmed
- Weight
- 0.16%
- Δ weight
- up 0.13 pts
- Value
- ₹2.3 Cr
- Δ value
- up ₹1.9 Cr
- Status
- Added
- Weight
- 0.05%
- Δ weight
- up 0.05 pts
- Value
- ₹71 L
- Δ value
- up ₹71 L
- Status
- New
What changed, Aug 2026 to Sep 2026
New New positions (3)
- Nuvoco Vistas Corporation Ltd.0.3% · ₹4.2 Cr
- Computer Age Management Services Limited0.2% · ₹3.5 Cr
- GSPL India Transco Ltd<0.1% · ₹71 L
Exited Exited (0)
None.
Added Biggest additions
- HDFC Bank Limitedup ₹15.9 Cr (+1.06% pts)
- ICICI Bank Limitedup ₹6.4 Cr (+0.40% pts)
- Timken India Limited ₹5.7 Cr (+0.39% pts)
Sectors
Which sectors the fund is moving towards and away from, and where its money sits now. Shares are of the fund’s classified equity holdings, so they add up to 100%.
Where the weight moved
Compared with
Since Aug 2026, the weight rose most in Banks (+1.5 pts) and Cement & Cement Products (+0.4 pts), and fell most in Automobiles (−0.7 pts) and Retailing (−0.4 pts).
- Banks30.1% → 31.7%+1.5 pts
- Cement & Cement Products4.6% → 5.1%+0.4 pts
- Industrial Products1.2% → 1.5%+0.3 pts
- Transport Services1.2% → 1.4%+0.2 pts
- Automobiles12.2% → 11.5%−0.7 pts
- Retailing1.9% → 1.4%−0.4 pts
- Petroleum Products5.9% → 5.6%−0.4 pts
- Construction5.0% → 4.8%−0.2 pts
- Capital Markets3.2% → 2.9%−0.2 pts
- Consumer Durables5.1% → 4.9%−0.2 pts
A sector’s weight changes when the fund buys or sells, and also when its shares rise or fall in price, so a change is not by itself a sign of buying or selling.
Main sectors’ weights over time
| Sector | Sep 2025 | Mar 2026 | Jun 2026 | Aug 2026 | Sep 2026 |
|---|---|---|---|---|---|
| Banks | 17.4% | 18.9% | 32.2% | 30.1% | 31.7% |
| Automobiles | 7.5% | 7.3% | 13.5% | 12.2% | 11.5% |
| Insurance | 2.0% | 2.1% | 4.9% | 6.3% | 6.4% |
| Telecom - Services | 2.5% | 3.6% | 3.6% | 6.1% | 5.9% |
| Petroleum Products | — | — | 5.4% | 5.9% | 5.6% |
| Cement & Cement Products | — | — | 5.3% | 4.6% | 5.1% |
| Consumer Durables | 6.8% | 6.9% | 5.3% | 5.1% | 4.9% |
| Construction | 2.9% | 2.0% | 4.9% | 5.0% | 4.8% |
| Power | 11.7% | 3.4% | 3.1% | 4.6% | 4.5% |
| Realty | 1.8% | 1.7% | 3.4% | 3.2% | 3.2% |
Allocation in Sep 2026change vs Aug 2026
- Banks (5)31.7%▲ 1.5 pts
Cash and debt
The share of the portfolio not in shares: cash and net receivables, money-market instruments and bonds, as disclosed each month. Cash can dip below zero when payables, often on derivative positions, exceed it. A change here describes what the fund did; it is not a signal.
Cash & debt, Sep 2026
6.5%
▼ 0.2 pts vs Aug 2026
- Cash alone
- 6.5%
- cash and net receivables
- A year earlier
- 6.9%
- Sep 2025 · now ▼ 0.4 pts
- Last 12 months
- 3.2% – 17.8%
- lowest to highest · record 45.8% in Dec 2024
History
Disclosed portfolio value by month, with the stocks the fund entered and exited against its previous disclosure. Every month is a link to that portfolio.