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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
₹1,155 Cr
up ₹10 Cr vs Jan 2026
- Stocks held
- 50
- unchanged
- Top 10 weight
- 41.4%
- of the portfolio in its ten largest
- Cash & debt
- 6.9%
- cash, money market and debt
- Moves this month
- 0 in · 0 out
- added to 10, trimmed 18
DSP Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from DSP Mutual Fund. In February 2026 it disclosed 50 stocks worth ₹1,155 Cr, up ₹10 Cr from Jan 2026. Its largest positions were State Bank of India (7.7%), Axis Bank Limited (5.5%), Mahindra & Mahindra Limited (4.4%); the ten largest together made up 41.4% of the portfolio, and Banks was the biggest sector at 20.6% of its equity. Cash and debt stood at 6.9%. Compared with Jan 2026 the fund entered 0 new stocks and exited 0.
Against 226 other Sectoral / Thematic funds
Concentration
40%
Top-10 weight is higher than 40% of peers
Breadth
64%
Holds more stocks than 64% of peers
Cash
86%
Holds more cash than 86% of peers
Holdings in February 2026
Download CSVEvery line the fund disclosed, with the change against Jan 2026. Click a column to sort; click a company to see every fund that owns it.
- Weight
- 7.73%
- Δ weight
- up 0.74 pts
- Value
- ₹89.3 Cr
- Δ value
- up ₹9.3 Cr
- Status
- Added
- Cash, TREPS & receivables
- Weight
- 6.88%
- Δ weight
- down 1.13 pts
- Value
- ₹79.5 Cr
- Δ value
- down ₹12.2 Cr
- Status
- Trimmed
- Weight
- 5.48%
- Δ weight
- up 0.01 pts
- Value
- ₹63.3 Cr
- Δ value
- up ₹62 L
- Status
- Added
- Weight
- 4.43%
- Δ weight
- down 0.08 pts
- Value
- ₹51.2 Cr
- Δ value
- down ₹52 L
- Status
- Trimmed
- Weight
- 4.01%
- Δ weight
- up 0.41 pts
- Value
- ₹46.3 Cr
- Δ value
- up ₹5.1 Cr
- Status
- Added
- Weight
- 3.68%
- Δ weight
- down 0.16 pts
- Value
- ₹42.5 Cr
- Δ value
- down ₹1.5 Cr
- Status
- Trimmed
- Weight
- 3.55%
- Δ weight
- down 0.97 pts
- Value
- ₹41 Cr
- Δ value
- down ₹10.7 Cr
- Status
- Trimmed
- Weight
- 3.35%
- Δ weight
- up 0.03 pts
- Value
- ₹38.7 Cr
- Δ value
- up ₹67 L
- Status
- Added
- Weight
- 3.23%
- Δ weight
- down 0.18 pts
- Value
- ₹37.3 Cr
- Δ value
- down ₹1.8 Cr
- Status
- Trimmed
- Weight
- 2.97%
- Δ weight
- up 0.82 pts
- Value
- ₹34.3 Cr
- Δ value
- up ₹9.7 Cr
- Status
- Added
- Weight
- 2.95%
- Δ weight
- up 0.18 pts
- Value
- ₹34.1 Cr
- Δ value
- up ₹2.3 Cr
- Status
- Added
- Weight
- 2.82%
- Δ weight
- down 0.55 pts
- Value
- ₹32.5 Cr
- Δ value
- down ₹6 Cr
- Status
- Trimmed
- Weight
- 2.72%
- Δ weight
- up <0.01 pts
- Value
- ₹31.4 Cr
- Δ value
- up ₹30 L
- Status
- Added
- Weight
- 2.66%
- Δ weight
- up 0.02 pts
- Value
- ₹30.7 Cr
- Δ value
- up ₹53 L
- Status
- Added
- Weight
- 2.66%
- Δ weight
- up 0.11 pts
- Value
- ₹30.7 Cr
- Δ value
- up ₹1.5 Cr
- Status
- Added
- Weight
- 2.54%
- Δ weight
- up 0.51 pts
- Value
- ₹29.3 Cr
- Δ value
- up ₹6.1 Cr
- Status
- Added
- Weight
- 2.16%
- Δ weight
- up 0.31 pts
- Value
- ₹25 Cr
- Δ value
- up ₹3.7 Cr
- Status
- Added
- Weight
- 2.11%
- Δ weight
- up 0.22 pts
- Value
- ₹24.4 Cr
- Δ value
- up ₹2.7 Cr
- Status
- Added
- Weight
- 1.76%
- Δ weight
- up 0.20 pts
- Value
- ₹20.4 Cr
- Δ value
- up ₹2.5 Cr
- Status
- Added
- Weight
- 1.75%
- Δ weight
- up 0.25 pts
- Value
- ₹20.2 Cr
- Δ value
- up ₹3.1 Cr
- Status
- Added
- Weight
- 1.63%
- Δ weight
- up 0.08 pts
- Value
- ₹18.8 Cr
- Δ value
- up ₹1.1 Cr
- Status
- Added
- Weight
- 1.61%
- Δ weight
- down 0.66 pts
- Value
- ₹18.6 Cr
- Δ value
- down ₹7.3 Cr
- Status
- Trimmed
- Weight
- 1.58%
- Δ weight
- up 0.11 pts
- Value
- ₹18.3 Cr
- Δ value
- up ₹1.4 Cr
- Status
- Added
- Weight
- 1.55%
- Δ weight
- up 0.02 pts
- Value
- ₹17.9 Cr
- Δ value
- up ₹37 L
- Status
- Added
- Weight
- 1.51%
- Δ weight
- up 0.24 pts
- Value
- ₹17.5 Cr
- Δ value
- up ₹2.9 Cr
- Status
- Added
- Weight
- 1.36%
- Δ weight
- up 0.11 pts
- Value
- ₹15.8 Cr
- Δ value
- up ₹1.3 Cr
- Status
- Added
- Weight
- 1.36%
- Δ weight
- up 0.26 pts
- Value
- ₹15.7 Cr
- Δ value
- up ₹3.1 Cr
- Status
- Added
- Weight
- 1.22%
- Δ weight
- down 0.02 pts
- Value
- ₹14.1 Cr
- Δ value
- down ₹5 L
- Status
- Held
- Weight
- 1.16%
- Δ weight
- down 0.04 pts
- Value
- ₹13.4 Cr
- Δ value
- down ₹34 L
- Status
- Trimmed
- Weight
- 1.16%
- Δ weight
- down 0.29 pts
- Value
- ₹13.3 Cr
- Δ value
- down ₹3.3 Cr
- Status
- Trimmed
- Weight
- 1.09%
- Δ weight
- up 0.03 pts
- Value
- ₹12.6 Cr
- Δ value
- up ₹48 L
- Status
- Added
- Weight
- 1.05%
- Δ weight
- down 0.10 pts
- Value
- ₹12.1 Cr
- Δ value
- down ₹1.1 Cr
- Status
- Trimmed
- Weight
- 1.05%
- Δ weight
- up 0.09 pts
- Value
- ₹12.1 Cr
- Δ value
- up ₹1.1 Cr
- Status
- Added
- Weight
- 1.01%
- Δ weight
- down 0.13 pts
- Value
- ₹11.7 Cr
- Δ value
- down ₹1.4 Cr
- Status
- Trimmed
- Weight
- 0.95%
- Δ weight
- down 0.02 pts
- Value
- ₹11 Cr
- Δ value
- down ₹16 L
- Status
- Trimmed
- Weight
- 0.94%
- Δ weight
- up 0.02 pts
- Value
- ₹10.8 Cr
- Δ value
- up ₹27 L
- Status
- Added
- Weight
- 0.90%
- Δ weight
- up 0.04 pts
- Value
- ₹10.4 Cr
- Δ value
- up ₹51 L
- Status
- Added
- Weight
- 0.90%
- Δ weight
- up 0.13 pts
- Value
- ₹10.4 Cr
- Δ value
- up ₹1.6 Cr
- Status
- Added
- Weight
- 0.84%
- Δ weight
- down 0.18 pts
- Value
- ₹9.7 Cr
- Δ value
- down ₹2 Cr
- Status
- Trimmed
- Weight
- 0.84%
- Δ weight
- up 0.01 pts
- Value
- ₹9.7 Cr
- Δ value
- up ₹17 L
- Status
- Added
- Weight
- 0.82%
- Δ weight
- down 0.08 pts
- Value
- ₹9.4 Cr
- Δ value
- down ₹79 L
- Status
- Trimmed
- Weight
- 0.78%
- Δ weight
- down 0.06 pts
- Value
- ₹9 Cr
- Δ value
- down ₹62 L
- Status
- Trimmed
- Weight
- 0.77%
- Δ weight
- down 0.03 pts
- Value
- ₹8.8 Cr
- Δ value
- down ₹26 L
- Status
- Trimmed
- Weight
- 0.77%
- Δ weight
- up 0.03 pts
- Value
- ₹8.8 Cr
- Δ value
- up ₹38 L
- Status
- Added
- Weight
- 0.76%
- Δ weight
- up 0.02 pts
- Value
- ₹8.8 Cr
- Δ value
- up ₹36 L
- Status
- Added
- Weight
- 0.75%
- Δ weight
- up 0.05 pts
- Value
- ₹8.7 Cr
- Δ value
- up ₹63 L
- Status
- Added
- Weight
- 0.62%
- Δ weight
- up 0.06 pts
- Value
- ₹7.2 Cr
- Δ value
- up ₹73 L
- Status
- Added
- Weight
- 0.61%
- Δ weight
- down 0.02 pts
- Value
- ₹7.1 Cr
- Δ value
- down ₹19 L
- Status
- Trimmed
- Weight
- 0.45%
- Δ weight
- up 0.02 pts
- Value
- ₹5.1 Cr
- Δ value
- up ₹27 L
- Status
- Added
- Weight
- 0.40%
- Δ weight
- down 0.08 pts
- Value
- ₹4.7 Cr
- Δ value
- down ₹87 L
- Status
- Trimmed
- Weight
- 0.11%
- Δ weight
- down 0.32 pts
- Value
- ₹1.3 Cr
- Δ value
- down ₹3.7 Cr
- Status
- Trimmed
- TVS Motor Company Ltd.Other
- Weight
- 0.03%
- Δ weight
- down <0.01 pts
- Value
- ₹33 L
- Δ value
- up ₹0 L
- Status
- Held
What changed, Jan 2026 to Feb 2026
New New positions (0)
None.
Exited Exited (0)
None.
Added Biggest additions
- Amber Enterprises India Limitedup ₹9.7 Cr (+0.82% pts)
- State Bank of Indiaup ₹9.3 Cr (+0.74% pts)
- KEI Industries Limitedup ₹6.1 Cr (+0.51% pts)
- Apollo Hospitals Enterprise Limitedup ₹5.1 Cr (+0.41% pts)
- Voltas Limitedup ₹3.7 Cr (+0.31% 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 Jan 2026, the weight rose most in Consumer Durables (+1.1 pts) and Industrial Products (+0.8 pts), and fell most in IT - Software (−2.7 pts) and Construction (−0.3 pts).
- Consumer Durables6.2% → 7.3%+1.1 pts
- Industrial Products5.5% → 6.3%+0.8 pts
- Banks20.0% → 20.6%+0.6 pts
- Electrical Equipment3.1% → 3.6%+0.5 pts
- Auto Components4.7% → 5.2%+0.4 pts
- Insurance2.1% → 2.3%+0.2 pts
- IT - Software12.1% → 9.5%−2.7 pts
- Construction2.6% → 2.3%−0.3 pts
- IT - Services1.6% → 1.2%−0.3 pts
- Capital Markets7.1% → 6.8%−0.3 pts
- Telecom - Services3.7% → 3.5%−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 | Feb 2025 | Aug 2025 | Nov 2025 | Jan 2026 | Feb 2026 |
|---|---|---|---|---|---|
| Banks | 19.4% | 16.9% | 18.6% | 20.0% | 20.6% |
| IT - Software | — | 9.2% | 12.1% | 12.1% | 9.5% |
| Automobiles | 8.9% | 7.2% | 7.8% | 7.7% | 7.6% |
| Consumer Durables | 8.0% | 6.8% | 6.2% | 6.2% | 7.3% |
| Capital Markets | 6.6% | 7.2% | 8.8% | 7.1% | 6.8% |
| Industrial Products | 6.6% | 5.7% | 5.9% | 5.5% | 6.3% |
| Healthcare Services | 4.8% | 5.2% | 6.4% | 5.9% | 6.1% |
| Auto Components | 1.7% | 2.4% | 3.0% | 4.7% | 5.2% |
| Pharmaceuticals & Biotechnology | 9.0% | 6.0% | 5.3% | 5.0% | 5.0% |
| Electrical Equipment | 2.2% | 2.9% | 2.8% | 3.1% | 3.6% |
Allocation in Feb 2026change vs Jan 2026
- Banks (4)20.6%▲ 0.6 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, Feb 2026
6.9%
▼ 1.1 pts vs Jan 2026
- Cash alone
- 6.9%
- cash and net receivables
- A year earlier
- 16.1%
- Feb 2025 · now ▼ 9.2 pts
- Last 12 months
- 5.4% – 15.5%
- 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.