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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
₹1,028 Cr
down ₹127 Cr vs Feb 2026
- Stocks held
- 50
- unchanged
- Top 10 weight
- 41.4%
- of the portfolio in its ten largest
- Cash & debt
- 4.5%
- cash, money market and debt
- Moves this month
- 1 in · 1 out
- added to 5, trimmed 44
DSP Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from DSP Mutual Fund. In March 2026 it disclosed 50 stocks worth ₹1,028 Cr, down ₹127 Cr from Feb 2026. Its largest positions were State Bank of India (7.1%), Axis Bank Limited (5.2%), Mahindra & Mahindra Limited (4.3%); the ten largest together made up 41.4% of the portfolio, and Banks was the biggest sector at 18.9% of its equity. Cash and debt stood at 4.5%. Compared with Feb 2026 the fund entered 1 new stock and exited 1.
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
67%
Holds more cash than 67% of peers
Holdings in March 2026
Download CSVEvery line the fund disclosed, with the change against Feb 2026. Click a column to sort; click a company to see every fund that owns it.
- Weight
- 7.08%
- Δ weight
- down 0.65 pts
- Value
- ₹72.8 Cr
- Δ value
- down ₹16.5 Cr
- Status
- Trimmed
- Weight
- 5.17%
- Δ weight
- down 0.31 pts
- Value
- ₹53.2 Cr
- Δ value
- down ₹10.2 Cr
- Status
- Trimmed
- Cash, TREPS & receivables
- Weight
- 4.48%
- Δ weight
- down 2.40 pts
- Value
- ₹46 Cr
- Δ value
- down ₹33.4 Cr
- Status
- Trimmed
- Weight
- 4.33%
- Δ weight
- down 0.10 pts
- Value
- ₹44.5 Cr
- Δ value
- down ₹6.7 Cr
- Status
- Trimmed
- Weight
- 4.27%
- Δ weight
- up 0.26 pts
- Value
- ₹43.9 Cr
- Δ value
- down ₹2.4 Cr
- Status
- Trimmed
- Weight
- 4.05%
- Δ weight
- up 0.36 pts
- Value
- ₹41.6 Cr
- Δ value
- down ₹94 L
- Status
- Trimmed
- Weight
- 3.83%
- Δ weight
- up 0.29 pts
- Value
- ₹39.4 Cr
- Δ value
- down ₹1.6 Cr
- Status
- Trimmed
- Weight
- 3.44%
- Δ weight
- up 0.21 pts
- Value
- ₹35.4 Cr
- Δ value
- down ₹1.9 Cr
- Status
- Trimmed
- Weight
- 3.22%
- Δ weight
- up 0.27 pts
- Value
- ₹33.1 Cr
- Δ value
- down ₹1 Cr
- Status
- Trimmed
- Weight
- 3.20%
- Δ weight
- down 0.15 pts
- Value
- ₹32.9 Cr
- Δ value
- down ₹5.8 Cr
- Status
- Trimmed
- Weight
- 2.84%
- Δ weight
- up 0.13 pts
- Value
- ₹29.2 Cr
- Δ value
- down ₹2.2 Cr
- Status
- Trimmed
- Weight
- 2.83%
- Δ weight
- up 0.01 pts
- Value
- ₹29.1 Cr
- Δ value
- down ₹3.4 Cr
- Status
- Trimmed
- Weight
- 2.74%
- Δ weight
- down 0.23 pts
- Value
- ₹28.1 Cr
- Δ value
- down ₹6.1 Cr
- Status
- Trimmed
- Weight
- 2.61%
- Δ weight
- down 0.05 pts
- Value
- ₹26.9 Cr
- Δ value
- down ₹3.9 Cr
- Status
- Trimmed
- Weight
- 2.60%
- Δ weight
- down 0.06 pts
- Value
- ₹26.7 Cr
- Δ value
- down ₹4 Cr
- Status
- Trimmed
- Weight
- 2.27%
- Δ weight
- down 0.27 pts
- Value
- ₹23.3 Cr
- Δ value
- down ₹6 Cr
- Status
- Trimmed
- Weight
- 2.27%
- Δ weight
- up 0.11 pts
- Value
- ₹23.3 Cr
- Δ value
- down ₹1.6 Cr
- Status
- Trimmed
- Weight
- 2.04%
- Δ weight
- down 0.07 pts
- Value
- ₹21 Cr
- Δ value
- down ₹3.4 Cr
- Status
- Trimmed
- Weight
- 2.02%
- Δ weight
- up 0.41 pts
- Value
- ₹20.8 Cr
- Δ value
- up ₹2.2 Cr
- Status
- Added
- Weight
- 1.64%
- Δ weight
- down 0.12 pts
- Value
- ₹16.9 Cr
- Δ value
- down ₹3.5 Cr
- Status
- Trimmed
- Weight
- 1.62%
- Δ weight
- up 0.07 pts
- Value
- ₹16.7 Cr
- Δ value
- down ₹1.2 Cr
- Status
- Trimmed
- Weight
- 1.58%
- Δ weight
- down 0.05 pts
- Value
- ₹16.2 Cr
- Δ value
- down ₹2.6 Cr
- Status
- Trimmed
- Weight
- 1.55%
- Δ weight
- down 0.20 pts
- Value
- ₹15.9 Cr
- Δ value
- down ₹4.3 Cr
- Status
- Trimmed
- Weight
- 1.52%
- Δ weight
- down 0.07 pts
- Value
- ₹15.6 Cr
- Δ value
- down ₹2.7 Cr
- Status
- Trimmed
- Weight
- 1.50%
- Δ weight
- down 0.01 pts
- Value
- ₹15.4 Cr
- Δ value
- down ₹2.1 Cr
- Status
- Trimmed
- Weight
- 1.47%
- Δ weight
- up 0.11 pts
- Value
- ₹15.1 Cr
- Δ value
- down ₹64 L
- Status
- Trimmed
- Weight
- 1.39%
- Δ weight
- up 1.39 pts
- Value
- ₹14.3 Cr
- Δ value
- up ₹14.3 Cr
- Status
- New
- Weight
- 1.38%
- Δ weight
- up 0.02 pts
- Value
- ₹14.2 Cr
- Δ value
- down ₹1.5 Cr
- Status
- Trimmed
- Weight
- 1.29%
- Δ weight
- up 0.19 pts
- Value
- ₹13.2 Cr
- Δ value
- up ₹60 L
- Status
- Added
- Weight
- 1.19%
- Δ weight
- up 0.03 pts
- Value
- ₹12.2 Cr
- Δ value
- down ₹1.1 Cr
- Status
- Trimmed
- Weight
- 1.17%
- Δ weight
- down 0.05 pts
- Value
- ₹12 Cr
- Δ value
- down ₹2 Cr
- Status
- Trimmed
- Weight
- 1.15%
- Δ weight
- up 0.10 pts
- Value
- ₹11.8 Cr
- Δ value
- down ₹29 L
- Status
- Trimmed
- Weight
- 1.14%
- Δ weight
- up 0.33 pts
- Value
- ₹11.8 Cr
- Δ value
- up ₹2.3 Cr
- Status
- Added
- Weight
- 1.07%
- Δ weight
- down 0.09 pts
- Value
- ₹11 Cr
- Δ value
- down ₹2.4 Cr
- Status
- Trimmed
- Weight
- 1.05%
- Δ weight
- up 0.04 pts
- Value
- ₹10.8 Cr
- Δ value
- down ₹90 L
- Status
- Trimmed
- Weight
- 1.04%
- Δ weight
- up 0.10 pts
- Value
- ₹10.6 Cr
- Δ value
- down ₹16 L
- Status
- Trimmed
- Weight
- 1.01%
- Δ weight
- down 0.04 pts
- Value
- ₹10.4 Cr
- Δ value
- down ₹1.7 Cr
- Status
- Trimmed
- Weight
- 1.01%
- Δ weight
- up 0.06 pts
- Value
- ₹10.4 Cr
- Δ value
- down ₹60 L
- Status
- Trimmed
- Weight
- 0.97%
- Δ weight
- up 0.07 pts
- Value
- ₹10 Cr
- Δ value
- down ₹41 L
- Status
- Trimmed
- Weight
- 0.96%
- Δ weight
- up 0.34 pts
- Value
- ₹9.9 Cr
- Δ value
- up ₹2.7 Cr
- Status
- Added
- Weight
- 0.88%
- Δ weight
- down 0.01 pts
- Value
- ₹9.1 Cr
- Δ value
- down ₹1.3 Cr
- Status
- Trimmed
- Weight
- 0.86%
- Δ weight
- up 0.10 pts
- Value
- ₹8.8 Cr
- Δ value
- up ₹9 L
- Status
- Added
- Weight
- 0.86%
- Δ weight
- up 0.02 pts
- Value
- ₹8.8 Cr
- Δ value
- down ₹89 L
- Status
- Trimmed
- Weight
- 0.85%
- Δ weight
- up <0.01 pts
- Value
- ₹8.7 Cr
- Δ value
- down ₹1 Cr
- Status
- Trimmed
- Weight
- 0.81%
- Δ weight
- up 0.05 pts
- Value
- ₹8.3 Cr
- Δ value
- down ₹51 L
- Status
- Trimmed
- Weight
- 0.77%
- Δ weight
- down <0.01 pts
- Value
- ₹7.9 Cr
- Δ value
- down ₹1 Cr
- Status
- Trimmed
- Weight
- 0.76%
- Δ weight
- up 0.01 pts
- Value
- ₹7.8 Cr
- Δ value
- down ₹86 L
- Status
- Trimmed
- Weight
- 0.73%
- Δ weight
- down 0.03 pts
- Value
- ₹7.5 Cr
- Δ value
- down ₹1.3 Cr
- Status
- Trimmed
- Weight
- 0.66%
- Δ weight
- up 0.04 pts
- Value
- ₹6.7 Cr
- Δ value
- down ₹36 L
- Status
- Trimmed
- Weight
- 0.43%
- Δ weight
- down 0.02 pts
- Value
- ₹4.4 Cr
- Δ value
- down ₹78 L
- Status
- Trimmed
- Weight
- 0.36%
- Δ weight
- down 0.04 pts
- Value
- ₹3.7 Cr
- Δ value
- down ₹94 L
- Status
- Trimmed
- TVS Motor Company Ltd.Other
- Weight
- 0.03%
- Δ weight
- up <0.01 pts
- Value
- ₹33 L
- Δ value
- down ₹0 L
- Status
- Held
What changed, Feb 2026 to Mar 2026
New New positions (1)
- Coromandel International Limited1.4% · ₹14.3 Cr
Exited Exited (1)
- Ahluwalia Contracts (India) Limitedwas 0.1% · ₹1.3 Cr
Added Biggest additions
- Bayer Cropscience Limitedup ₹2.7 Cr (+0.34% pts)
- Apollo Tyres Limitedup ₹2.3 Cr (+0.33% pts)
- Coforge Limitedup ₹2.2 Cr (+0.41% pts)
- IPCA Laboratories Limited
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 Feb 2026, the weight rose most in Fertilizers & Agrochemicals (+1.8 pts) and IT - Software (+0.5 pts), and fell most in Banks (−1.7 pts) and Industrial Products (−0.4 pts).
- Fertilizers & Agrochemicals1.5% → 3.3%+1.8 pts
- IT - Software9.5% → 10.0%+0.5 pts
- Capital Markets6.8% → 7.1%+0.3 pts
- Pharmaceuticals & Biotechnology5.0% → 5.2%+0.2 pts
- Healthcare Services6.1% → 6.3%+0.2 pts
- Power3.2% → 3.4%+0.2 pts
- Banks20.6% → 18.9%−1.7 pts
- Industrial Products6.3% → 5.8%−0.4 pts
- Consumer Durables7.3% → 6.9%−0.4 pts
- Automobiles7.6% → 7.3%−0.4 pts
- Construction2.3% → 2.0%−0.3 pts
- Insurance2.3% → 2.1%−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 | Mar 2025 | Sep 2025 | Dec 2025 | Feb 2026 | Mar 2026 |
|---|---|---|---|---|---|
| Banks | 19.2% | 17.4% | 18.7% | 20.6% | 18.9% |
| IT - Software | — | 8.6% | 11.9% | 9.5% | 10.0% |
| Automobiles | 8.3% | 7.5% | 7.9% | 7.6% | 7.3% |
| Capital Markets | 6.6% | 7.4% | 9.3% | 6.8% | 7.1% |
| Consumer Durables | 8.8% | 6.8% | 6.4% | 7.3% | 6.9% |
| Healthcare Services | 5.3% | 4.9% | 6.2% | 6.1% | 6.3% |
| Industrial Products | 6.2% | 5.9% | 5.8% | 6.3% | 5.8% |
| Pharmaceuticals & Biotechnology | 8.2% | 6.2% | 4.9% | 5.0% | 5.2% |
| Auto Components | 1.6% | 2.5% | 2.9% | 5.2% | 5.2% |
| Telecom - Services | 6.5% | 2.5% | 3.9% | 3.5% | 3.6% |
Allocation in Mar 2026change vs Feb 2026
- Banks (4)18.9%▼ 1.7 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, Mar 2026
4.5%
▼ 2.4 pts vs Feb 2026
- Cash alone
- 4.5%
- cash and net receivables
- A year earlier
- 15.5%
- Mar 2025 · now ▼ 11.0 pts
- Last 12 months
- 4.5% – 13.6%
- 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.