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Sectoral / Thematic · DSP Mutual Fund · AMFI code 152206DSP Banking & Financial Services Fund
Disclosed for 34 months, Dec 2023 to Sep 2026.
Portfolio value
₹2,034 Cr
down ₹149 Cr vs Aug 2026
- Stocks held
- 35
- up 1 vs Aug 2026
- Top 10 weight
- 53.4%
- of the portfolio in its ten largest
- Cash & debt
- 1.5%
- cash, money market and debt
- Moves this month
- 1 in · 0 out
- added to 4, trimmed 30
DSP Banking & Financial Services Fund is an active equity fund in the Sectoral / Thematic category from DSP Mutual Fund. In September 2026 it disclosed 35 stocks worth ₹2,034 Cr, down ₹149 Cr from Aug 2026. Its largest positions were ICICI Bank Limited (9.7%), HDFC Bank Limited (6.1%), Axis Bank Limited (5.7%); the ten largest together made up 53.4% of the portfolio, and Banks was the biggest sector at 49.1% of its equity. Cash and debt stood at 1.5%. Compared with Aug 2026 the fund entered 1 new stock and exited 0.
Against 229 other Sectoral / Thematic funds
Concentration
67%
Top-10 weight is higher than 67% of peers
Breadth
27%
Holds more stocks than 27% of peers
Cash
21%
Holds more cash than 21% of peers
What these mean: concentration · cash
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. New to these? How to read a portfolio.
| ICICI Bank Limited | 9.70% | down 0.24 pts | ₹197 Cr | down ₹19.8 Cr | Trimmed |
| HDFC Bank Limited | 6.07% | up 2.31 pts | ₹123 Cr | up ₹41.3 Cr | Added |
| Axis Bank Limited | 5.70% | down 1.45 pts | ₹116 Cr | down ₹40.1 Cr | Trimmed |
| Cholamandalam Investment and Finance Company Limited | 5.16% | down 0.35 pts | ₹105 Cr | down ₹15.4 Cr | Trimmed |
| State Bank of India | 4.63% | down 0.14 pts | ₹94.2 Cr | down ₹9.9 Cr | Trimmed |
| Kotak Mahindra Bank Limited | 4.63% | up 0.29 pts | ₹94.2 Cr | down ₹54 L | Trimmed |
| Ujjivan Small Finance Bank Limited | 4.57% | up 0.37 pts | ₹93 Cr | up ₹1.3 Cr | Added |
| Shriram Transport Finance Company Limited Shriram Finance Limited · history in this fund | 4.47% | down 0.23 pts | ₹90.9 Cr | down ₹11.8 Cr | Trimmed |
| Bajaj Finance Limited | 4.32% | down 0.11 pts | ₹88 Cr | down ₹8.9 Cr | Trimmed |
| Max Financial Services Limited | 4.18% | down 0.08 pts | ₹84.9 Cr | down ₹8 Cr | Trimmed |
| Canara HSBC Life Insurance Co Ltd | 4.13% | up 0.08 pts | ₹83.9 Cr | down ₹4.3 Cr | Trimmed |
| City Union Bank Limited | 3.97% | up 0.22 pts | ₹80.7 Cr | down ₹1.1 Cr | Trimmed |
| SBI Life Insurance Company Limited | 3.87% | up 0.17 pts | ₹78.8 Cr | down ₹2 Cr | Trimmed |
| Aditya Birla Capital Limited | 3.62% | down 0.01 pts | ₹73.7 Cr | down ₹5.6 Cr | Trimmed |
| Multi Commodity Exchange of India Limited | 3.41% | up 0.14 pts | ₹69.4 Cr | down ₹2.1 Cr | Trimmed |
| Aadhar Housing Finance Limited | 3.34% | down <0.01 pts | ₹67.9 Cr | down ₹5 Cr | Trimmed |
| PB Fintech Limited | 3.01% | down 1.93 pts | ₹61.3 Cr | down ₹46.7 Cr | Trimmed |
| Karur Vysya Bank Limited | 2.68% | up 0.01 pts | ₹54.5 Cr | down ₹3.8 Cr | Trimmed |
| PNB Housing Finance Limited | 2.64% | up 0.12 pts | ₹53.8 Cr | down ₹1.4 Cr | Trimmed |
| Bank of Maharashtra | 2.51% | up 0.09 pts | ₹51 Cr | down ₹1.7 Cr | Trimmed |
| Union Bank of India | 2.46% | down 0.07 pts | ₹50 Cr | down ₹5.2 Cr | Trimmed |
| Aditya Birla Sun Life AMC Limited | 1.51% | up 0.02 pts | ₹30.8 Cr | down ₹1.7 Cr | Trimmed |
| Cash, TREPS & receivables | 1.47% | up 0.30 pts | ₹29.8 Cr | up ₹4.4 Cr | Added |
| Bank of India | 1.46% | down 0.02 pts | ₹29.7 Cr | down ₹2.6 Cr | Trimmed |
| BSE Limited | 1.42% | up 0.02 pts | ₹28.8 Cr | down ₹1.8 Cr | Trimmed |
| Prudent Corporate Advisory Services Limited | 1.40% | down 0.13 pts | ₹28.6 Cr | down ₹5 Cr | Trimmed |
| National Stock Exchange Of India Ltd | 0.97% | up 0.97 pts | ₹19.8 Cr | up ₹19.8 Cr | New |
| KFin Technologies Limited | 0.86% | down 0.06 pts | ₹17.4 Cr | down ₹2.7 Cr | Trimmed |
| Seshaasai Technologies Limited | 0.69% | up 0.02 pts | ₹14 Cr | down ₹60 L | Trimmed |
| Nippon Life India Asset Management Limited | 0.67% | down 0.32 pts | ₹13.6 Cr | down ₹7.9 Cr | Trimmed |
| Life Insurance Corporation Of India | 0.26% | up <0.01 pts | ₹5.3 Cr | down ₹30 L | Trimmed |
| Billionbrains Garage Ventures Ltd | 0.19% | up 0.01 pts | ₹3.9 Cr | down ₹17 L | Trimmed |
| ICICI Prudential Asset Management Company Limited | 0.02% | up <0.01 pts | ₹37 L | up ₹1 L | Added |
| Bajaj Finserv Limited | 0.01% | down <0.01 pts | ₹19 L | down ₹3 L | Trimmed |
| ICICI Lombard General Insurance Company Limited | <0.01% | up <0.01 pts | ₹8 L | up ₹0 L | Added |
| Power Finance Corporation Limited | <0.01% | up <0.01 pts | ₹3 L | down ₹0 L | Trimmed |
What changed, Aug 2026 to Sep 2026
New New positions (1)
- National Stock Exchange Of India Ltd1.0% · ₹19.8 Cr
Exited Exited (0)
None.
Added Biggest additions
- HDFC Bank Limitedup ₹41.3 Cr (+2.31% pts)
- Ujjivan Small Finance Bank Limitedup ₹1.3 Cr (+0.37% pts)
- ICICI Prudential Asset Management Company Limitedup ₹1 L (+<0.01% pts)
- ICICI Lombard General Insurance Company Limitedup ₹0 L (+<0.01% pts)
Trimmed Biggest reductions
- PB Fintech Limiteddown ₹46.7 Cr (−1.93% pts)
- Axis Bank Limiteddown ₹40.1 Cr (−1.45% pts)
- ICICI Bank Limiteddown ₹19.8 Cr (−0.24% pts)
- Cholamandalam Investment and Finance Company Limiteddown ₹15.4 Cr (−0.35% pts)
- Shriram Transport Finance Company Limiteddown ₹11.8 Cr (−0.23% pts)
- State Bank of Indiadown ₹9.9 Cr (−0.14% pts)
- Bajaj Finance Limiteddown ₹8.9 Cr (−0.11% pts)
- Max Financial Services Limiteddown ₹8 Cr (−0.08% pts)
- Nippon Life India Asset Management Limiteddown ₹7.9 Cr (−0.32% pts)
- Aditya Birla Capital Limiteddown ₹5.6 Cr (−0.01% 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 Capital Markets (+0.7 pts), and fell most in Financial Technology (fintech) (−1.9 pts) and Finance (−0.5 pts).
- Banks47.5% → 49.1%+1.5 pts
- Capital Markets9.9% → 10.6%+0.7 pts
- Insurance12.4% → 12.6%+0.2 pts
- Financial Technology (fintech)5.7% → 3.8%−1.9 pts
- Finance24.4% → 23.9%−0.5 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 | 39.0% | 46.6% | 48.6% | 47.5% | 49.1% |
| Finance | 39.1% | 23.6% | 25.8% | 24.4% | 23.9% |
| Insurance | 9.5% | 12.3% | 11.4% | 12.4% | 12.6% |
| Capital Markets | 11.0% | 13.2% | 9.4% | 9.9% | 10.6% |
| Financial Technology (fintech) | 0.5% | 4.3% | 4.7% | 5.7% | 3.8% |
Allocation in Sep 2026change vs Aug 2026
- Banks (11)49.1%▲ 1.5 pts
- Finance (8)23.9%▼ 0.5 pts
- Insurance (5)12.6%▲ 0.2 pts
- Capital Markets (9)10.6%▲ 0.7 pts
- Financial Technology (fintech) (2)3.8%▼ 1.9 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. More on reading cash.
Cash & debt, Sep 2026
1.5%
▲ 0.3 pts vs Aug 2026
- Cash alone
- 1.5%
- cash and net receivables
- A year earlier
- 9.9%
- Sep 2025 · now ▼ 8.4 pts
- Last 12 months
- 1.2% – 6.4%
- lowest to highest · record 41.1% in Dec 2023
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.
The last 24 months
| Month | Portfolio value | Stocks | Entered | Exited | Cash | Cash & debt | Turnover |
|---|---|---|---|---|---|---|---|
| Sep 2026 | ₹2,034 Cr | 35 | 1 | 0 | 1.5% | 1.5% | — |
| Aug 2026 | ₹2,184 Cr | 34 | 0 | 1 | 1.2% | 1.2% | — |
| Jul 2026 | ₹2,065 Cr | 35 | 2 | 2 | 1.9% | 1.2% | — |
| Jun 2026 | ₹2,012 Cr | 35 | 2 | 0 | 2.6% | 2.6% | — |
| May 2026 | ₹1,871 Cr | 33 | 2 | 2 | 6.4% | 6.4% | — |
| Apr 2026 | ₹1,828 Cr | 33 | 0 | 1 | 4.8% | 4.8% | — |
| Mar 2026 | ₹1,543 Cr | 34 | 0 | 3 | 2.7% | 2.7% | — |
| Feb 2026 | ₹1,729 Cr | 37 | 2 | 1 | 2.3% | 2.3% | — |
| Jan 2026 | ₹1,667 Cr | 36 | 0 | 0 | 3.9% | 3.9% | — |
| Dec 2025 | ₹1,624 Cr | 36 | 2 | 0 | 2.3% | 2.3% | — |
| Nov 2025 | ₹1,583 Cr | 34 | 2 | 1 | 5.4% | 5.4% | — |
| Oct 2025 | ₹1,519 Cr | 33 | 8 | 1 | 6.1% | 6.1% | — |
| Sep 2025 | ₹1,420 Cr | 26 | 2 | 0 | 9.9% | 9.9% | — |
| Aug 2025 | ₹1,331 Cr | 24 | 1 | 0 | 11.8% | 11.7% | — |
| Jul 2025 | ₹1,346 Cr | 23 | 0 | 0 | 11.5% | 11.5% | — |
| Jun 2025 | ₹1,341 Cr | 23 | 3 | 2 | 7.3% | 7.3% | — |
| May 2025 | ₹1,290 Cr | 22 | 1 | 1 | 17.9% | 17.9% | — |
| Apr 2025 | ₹1,210 Cr | 22 | 1 | 2 | 18.8% | 18.8% | — |
| Mar 2025 | ₹1,117 Cr | 23 | 1 | 0 | 19.1% | 19.4% | — |
| Feb 2025 | ₹1,013 Cr | 22 | 0 | 0 | 18.7% | 18.7% | — |
| Jan 2025 | ₹1,012 Cr | 22 | 2 | 2 | 17.9% | 17.9% | — |
| Dec 2024 | ₹1,017 Cr | 22 | 1 | 3 | 11.1% | 11.1% | — |
| Nov 2024 | ₹1,035 Cr | 24 | 1 | 0 | 13.1% | 13.1% | — |
| Oct 2024 | ₹993 Cr | 23 | 2 | 2 | 9.9% | 10.0% | — |
For any of the 10 earlier months, choose it in “Portfolio as of” at the top of the page.