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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
₹1,181 Cr
up ₹43.4 Cr vs Sep 2025
- Stocks held
- 50
- up 1 vs Sep 2025
- Top 10 weight
- 40.9%
- of the portfolio in its ten largest
- Cash & debt
- 10.1%
- cash, money market and debt
- Moves this month
- 3 in · 2 out
- added to 10, trimmed 17
DSP Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from DSP Mutual Fund. In October 2025 it disclosed 50 stocks worth ₹1,181 Cr, up ₹43.4 Cr from Sep 2025. Its largest positions were State Bank of India (5.9%), Multi Commodity Exchange of India Limited (5.0%), Axis Bank Limited (4.8%); the ten largest together made up 40.9% of the portfolio, and Banks was the biggest sector at 18.4% of its equity. Cash and debt stood at 10.1%. Compared with Sep 2025 the fund entered 3 new stocks and exited 2.
Against 226 other Sectoral / Thematic funds
Concentration
38%
Top-10 weight is higher than 38% of peers
Breadth
64%
Holds more stocks than 64% of peers
Cash
95%
Holds more cash than 95% of peers
Holdings in October 2025
Download CSVEvery line the fund disclosed, with the change against Sep 2025. Click a column to sort; click a company to see every fund that owns it.
- Cash, TREPS & receivables
- Weight
- 10.08%
- Δ weight
- up 3.16 pts
- Value
- ₹119 Cr
- Δ value
- up ₹40.3 Cr
- Status
- Added
- Weight
- 5.89%
- Δ weight
- up 0.20 pts
- Value
- ₹69.6 Cr
- Δ value
- up ₹4.8 Cr
- Status
- Added
- Weight
- 4.97%
- Δ weight
- up 0.62 pts
- Value
- ₹58.7 Cr
- Δ value
- up ₹9.2 Cr
- Status
- Added
- Weight
- 4.78%
- Δ weight
- up 0.22 pts
- Value
- ₹56.4 Cr
- Δ value
- up ₹4.6 Cr
- Status
- Added
- Weight
- 4.45%
- Δ weight
- down 0.09 pts
- Value
- ₹52.5 Cr
- Δ value
- up ₹91 L
- Status
- Added
- Weight
- 4.07%
- Δ weight
- down 0.04 pts
- Value
- ₹48.1 Cr
- Δ value
- up ₹1.3 Cr
- Status
- Added
- Weight
- 3.85%
- Δ weight
- down 0.01 pts
- Value
- ₹45.5 Cr
- Δ value
- up ₹1.6 Cr
- Status
- Added
- Weight
- 3.45%
- Δ weight
- up 1.13 pts
- Value
- ₹40.8 Cr
- Δ value
- up ₹14.3 Cr
- Status
- Added
- Weight
- 3.32%
- Δ weight
- up 0.05 pts
- Value
- ₹39.2 Cr
- Δ value
- up ₹2 Cr
- Status
- Added
- Weight
- 3.19%
- Δ weight
- up 1.04 pts
- Value
- ₹37.7 Cr
- Δ value
- up ₹13.3 Cr
- Status
- Added
- Weight
- 2.92%
- Δ weight
- down 0.13 pts
- Value
- ₹34.5 Cr
- Δ value
- down ₹23 L
- Status
- Trimmed
- Weight
- 2.54%
- Δ weight
- down 2.73 pts
- Value
- ₹30 Cr
- Δ value
- down ₹30 Cr
- Status
- Trimmed
- Weight
- 2.54%
- Δ weight
- down 0.10 pts
- Value
- ₹30 Cr
- Δ value
- down ₹6 L
- Status
- Held
- Weight
- 2.36%
- Δ weight
- up 0.65 pts
- Value
- ₹27.9 Cr
- Δ value
- up ₹8.4 Cr
- Status
- Added
- Weight
- 2.36%
- Δ weight
- down 0.04 pts
- Value
- ₹27.9 Cr
- Δ value
- up ₹56 L
- Status
- Added
- Weight
- 1.97%
- Δ weight
- down 0.09 pts
- Value
- ₹23.3 Cr
- Δ value
- down ₹18 L
- Status
- Trimmed
- Weight
- 1.87%
- Δ weight
- down 0.03 pts
- Value
- ₹22.1 Cr
- Δ value
- up ₹48 L
- Status
- Added
- Weight
- 1.77%
- Δ weight
- up 0.14 pts
- Value
- ₹20.9 Cr
- Δ value
- up ₹2.3 Cr
- Status
- Added
- Weight
- 1.76%
- Δ weight
- down 0.10 pts
- Value
- ₹20.8 Cr
- Δ value
- down ₹40 L
- Status
- Trimmed
- Weight
- 1.62%
- Δ weight
- up 0.30 pts
- Value
- ₹19.2 Cr
- Δ value
- up ₹4.1 Cr
- Status
- Added
- Weight
- 1.57%
- Δ weight
- down 0.06 pts
- Value
- ₹18.5 Cr
- Δ value
- up ₹2 L
- Status
- Held
- Weight
- 1.56%
- Δ weight
- up 0.11 pts
- Value
- ₹18.4 Cr
- Δ value
- up ₹2 Cr
- Status
- Added
- Weight
- 1.50%
- Δ weight
- down 0.05 pts
- Value
- ₹17.7 Cr
- Δ value
- up ₹13 L
- Status
- Added
- Weight
- 1.49%
- Δ weight
- down 0.06 pts
- Value
- ₹17.7 Cr
- Δ value
- down ₹3 L
- Status
- Held
- Weight
- 1.44%
- Δ weight
- down 0.03 pts
- Value
- ₹17 Cr
- Δ value
- up ₹24 L
- Status
- Added
- Weight
- 1.37%
- Δ weight
- down 0.12 pts
- Value
- ₹16.1 Cr
- Δ value
- down ₹75 L
- Status
- Trimmed
- Weight
- 1.30%
- Δ weight
- up 0.20 pts
- Value
- ₹15.4 Cr
- Δ value
- up ₹2.9 Cr
- Status
- Added
- Weight
- 1.24%
- Δ weight
- up 0.10 pts
- Value
- ₹14.7 Cr
- Δ value
- up ₹1.7 Cr
- Status
- Added
- Weight
- 1.20%
- Δ weight
- down 0.07 pts
- Value
- ₹14.1 Cr
- Δ value
- down ₹31 L
- Status
- Trimmed
- Weight
- 1.11%
- Δ weight
- up 1.11 pts
- Value
- ₹13.1 Cr
- Δ value
- up ₹13.1 Cr
- Status
- New
- Weight
- 1.10%
- Δ weight
- up 0.12 pts
- Value
- ₹13 Cr
- Δ value
- up ₹1.9 Cr
- Status
- Added
- Weight
- 1.06%
- Δ weight
- down 0.14 pts
- Value
- ₹12.5 Cr
- Δ value
- down ₹1.1 Cr
- Status
- Trimmed
- Weight
- 0.99%
- Δ weight
- up 0.99 pts
- Value
- ₹11.7 Cr
- Δ value
- up ₹11.7 Cr
- Status
- New
- Weight
- 0.99%
- Δ weight
- down 0.09 pts
- Value
- ₹11.7 Cr
- Δ value
- down ₹62 L
- Status
- Trimmed
- Weight
- 0.98%
- Δ weight
- down 0.20 pts
- Value
- ₹11.6 Cr
- Δ value
- down ₹1.9 Cr
- Status
- Trimmed
- Weight
- 0.96%
- Δ weight
- down 0.11 pts
- Value
- ₹11.3 Cr
- Δ value
- down ₹88 L
- Status
- Trimmed
- Weight
- 0.93%
- Δ weight
- down 0.05 pts
- Value
- ₹11 Cr
- Δ value
- down ₹12 L
- Status
- Trimmed
- Weight
- 0.92%
- Δ weight
- down 0.04 pts
- Value
- ₹10.8 Cr
- Δ value
- down ₹1 L
- Status
- Held
- Weight
- 0.88%
- Δ weight
- up 0.02 pts
- Value
- ₹10.4 Cr
- Δ value
- up ₹59 L
- Status
- Added
- Weight
- 0.82%
- Δ weight
- down 0.05 pts
- Value
- ₹9.7 Cr
- Δ value
- down ₹26 L
- Status
- Trimmed
- Weight
- 0.80%
- Δ weight
- down 0.06 pts
- Value
- ₹9.4 Cr
- Δ value
- down ₹29 L
- Status
- Trimmed
- Weight
- 0.80%
- Δ weight
- up 0.02 pts
- Value
- ₹9.4 Cr
- Δ value
- up ₹62 L
- Status
- Added
- Weight
- 0.76%
- Δ weight
- down 0.02 pts
- Value
- ₹8.9 Cr
- Δ value
- up ₹7 L
- Status
- Added
- Weight
- 0.73%
- Δ weight
- down 0.02 pts
- Value
- ₹8.7 Cr
- Δ value
- up ₹5 L
- Status
- Added
- Weight
- 0.73%
- Δ weight
- up <0.01 pts
- Value
- ₹8.6 Cr
- Δ value
- up ₹36 L
- Status
- Added
- Weight
- 0.69%
- Δ weight
- down 0.03 pts
- Value
- ₹8.2 Cr
- Δ value
- down ₹5 L
- Status
- Trimmed
- Weight
- 0.56%
- Δ weight
- up 0.01 pts
- Value
- ₹6.6 Cr
- Δ value
- up ₹34 L
- Status
- Added
- Weight
- 0.52%
- Δ weight
- down 0.02 pts
- Value
- ₹6.2 Cr
- Δ value
- down ₹5 L
- Status
- Trimmed
- Weight
- 0.46%
- Δ weight
- down 0.04 pts
- Value
- ₹5.5 Cr
- Δ value
- down ₹26 L
- Status
- Trimmed
- Weight
- 0.45%
- Δ weight
- up 0.45 pts
- Value
- ₹5.3 Cr
- Δ value
- up ₹5.3 Cr
- Status
- New
- Weight
- 0.33%
- Δ weight
- down 0.03 pts
- Value
- ₹3.8 Cr
- Δ value
- down ₹16 L
- Status
- Trimmed
- TVS Motor Company Ltd.Other
- Weight
- 0.03%
- Δ weight
- down <0.01 pts
- Value
- ₹32 L
- Δ value
- up ₹0 L
- Status
- Held
What changed, Sep 2025 to Oct 2025
New New positions (3)
- Tata Capital Limited1.1% · ₹13.1 Cr
- MphasiS Limited1.0% · ₹11.7 Cr
- Sona BLW Precision Forgings Limited0.4% · ₹5.3 Cr
Exited Exited (2)
- Power Grid Corporation of India Limitedwas 5.6% · ₹64.1 Cr
- Praj Industries Limitedwas 0.4% · ₹4.2 Cr
Added Biggest additions
- Bharti Airtel Limitedup ₹14.3 Cr (+1.13% 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 Sep 2025, the weight rose most in IT - Software (+3.2 pts) and Telecom - Services (+1.3 pts), and fell most in Power (−8.9 pts) and Industrial Manufacturing (−0.4 pts).
- IT - Software8.6% → 11.8%+3.2 pts
- Telecom - Services2.5% → 3.8%+1.3 pts
- Finance0.0% → 1.2%new+1.2 pts
- Capital Markets7.4% → 8.4%+1.0 pts
- Banks17.4% → 18.4%+1.0 pts
- Auto Components2.5% → 3.0%+0.5 pts
- Power11.7% → 2.8%−8.9 pts
- Industrial Manufacturing0.4% → 0.0%exited−0.4 pts
- Transport Infrastructure1.3% → 1.2%−0.1 pts
- Electrical Equipment3.0% → 2.9%−0.1 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 | Apr 2025 | Jul 2025 | Sep 2025 | Oct 2025 |
|---|---|---|---|---|
| Banks | 20.9% | 16.9% | 17.4% | 18.4% |
| IT - Software | — | 8.6% | 8.6% | 11.8% |
| Capital Markets | 8.3% | 7.5% | 7.4% | 8.4% |
| Automobiles | 7.3% | 6.7% | 7.5% | 7.6% |
| Consumer Durables | 7.1% | 6.9% | 6.8% | 6.8% |
| Pharmaceuticals & Biotechnology | 6.3% | 6.2% | 6.2% | 6.6% |
| Industrial Products | 6.0% | 6.1% | 5.9% | 6.0% |
| Healthcare Services | 5.5% | 5.0% | 4.9% | 5.1% |
| Telecom - Services | 2.9% | 2.6% | 2.5% | 3.8% |
| Auto Components | 1.6% | 2.5% | 2.5% | 3.0% |
Allocation in Oct 2025change vs Sep 2025
- Banks (4)18.4%▲ 1.0 pts
- IT - Software (4)11.8%
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, Oct 2025
10.1%
▲ 3.2 pts vs Sep 2025
- Cash alone
- 10.1%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 5.4% – 45.8%
- 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.