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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
₹1,624 Cr
up ₹41.3 Cr vs Nov 2025
- Stocks held
- 36
- up 2 vs Nov 2025
- Top 10 weight
- 57.6%
- of the portfolio in its ten largest
- Cash & debt
- 2.3%
- cash, money market and debt
DSP Banking & Financial Services Fund is an active equity fund in the Sectoral / Thematic category from DSP Mutual Fund. In December 2025 it disclosed 36 stocks worth ₹1,624 Cr, up ₹41.3 Cr from Nov 2025. Its largest positions were ICICI Bank Limited (13.1%), Axis Bank Limited (7.6%), State Bank of India (6.8%); the ten largest together made up 57.6% of the portfolio, and Banks was the biggest sector at 47.4% of its equity. Cash and debt stood at 2.3%. Compared with Nov 2025 the fund entered 2 new stocks and exited 0.
Against 229 other Sectoral / Thematic funds
Concentration
76%
Top-10 weight is higher than 76% of peers
Breadth
32%
Holds more stocks than 32% of peers
Cash
31%
Holds more cash than 31% of peers
What these mean: concentration · cash
Holdings in December 2025
Download CSVEvery line the fund disclosed, with the change against Nov 2025. 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 | 13.08% | down 0.80 pts | ₹212 Cr | down ₹7.3 Cr | Trimmed |
| Axis Bank Limited | 7.60% | down 0.26 pts | ₹123 Cr | down ₹1 Cr | Trimmed |
| State Bank of India | 6.80% | down 0.15 pts | ₹110 Cr | up ₹36 L | Held |
| Bajaj Finance Limited | 4.92% | down 0.39 pts | ₹79.9 Cr | down ₹4.1 Cr | Trimmed |
| SBI Life Insurance Company Limited | 4.81% | up 0.04 pts | ₹78.1 Cr | up ₹2.6 Cr | Added |
| Multi Commodity Exchange of India Limited | 4.55% | up 0.33 pts | ₹73.9 Cr | up ₹7.1 Cr | Added |
| HDFC Bank Limited | 4.46% | down 0.19 pts | ₹72.4 Cr | down ₹1.2 Cr | Trimmed |
| Kotak Mahindra Bank Limited | 4.10% | up 0.04 pts | ₹66.6 Cr | up ₹2.3 Cr | Added |
| Aditya Birla Capital Limited | 3.87% | up 0.60 pts | ₹62.8 Cr | up ₹11.1 Cr | Added |
| Canara HSBC Life Insurance Co Ltd | 3.36% | up 1.10 pts | ₹54.6 Cr | up ₹18.8 Cr | Added |
| Ujjivan Small Finance Bank Limited | 3.08% | up 0.41 pts | ₹50 Cr | up ₹7.7 Cr | Added |
| Nippon Life India Asset Management Limited | 2.88% | down 0.06 pts | ₹46.7 Cr | up ₹22 L | Held |
| Max Financial Services Limited | 2.80% | down 0.13 pts | ₹45.4 Cr | down ₹82 L | Trimmed |
| Bank of Baroda | 2.79% | down 0.01 pts | ₹45.3 Cr | up ₹93 L | Added |
| PB Fintech Limited | 2.78% | down 0.06 pts | ₹45.1 Cr | up ₹17 L | Held |
| L&T Finance Limited | 2.69% | down 0.04 pts | ₹43.6 Cr | up ₹50 L | Added |
| Cholamandalam Investment and Finance Company Limited | 2.54% | down 0.12 pts | ₹41.3 Cr | down ₹82 L | Trimmed |
| Bank of Maharashtra | 2.42% | up 1.71 pts | ₹39.3 Cr | up ₹28 Cr | Added |
| Cash, TREPS & receivables | 2.25% | down 3.12 pts | ₹36.6 Cr | down ₹48.5 Cr | Trimmed |
| Canara Robeco Mutual Fund | 2.19% | up 0.02 pts | ₹35.5 Cr | up ₹1.3 Cr | Added |
| PNB Housing Finance Limited | 1.99% | up 0.05 pts | ₹32.4 Cr | up ₹1.6 Cr | Added |
| Bajaj Finserv Limited | 1.58% | down 0.08 pts | ₹25.7 Cr | down ₹68 L | Trimmed |
| Angel One Limited | 1.30% | down 0.24 pts | ₹21.1 Cr | down ₹3.2 Cr | Trimmed |
| Prudent Corporate Advisory Services Limited | 1.28% | up 0.01 pts | ₹20.8 Cr | up ₹61 L | Added |
| Shriram Transport Finance Company Limited Shriram Finance Limited · history in this fund | 1.15% | up 1.15 pts | ₹18.6 Cr | up ₹18.6 Cr | New |
| Tata Capital Limited | 1.04% | up 0.02 pts | ₹17 Cr | up ₹69 L | Added |
| HDB Financial Services Limited | 1.01% | down 0.03 pts | ₹16.5 Cr | down ₹4 L | Held |
| Karur Vysya Bank Limited | 0.98% | up 0.03 pts | ₹15.9 Cr | up ₹96 L | Added |
| Niva Bupa Health Insurance Company Limited | 0.97% | down 0.01 pts | ₹15.7 Cr | up ₹22 L | Added |
| CSB Bank Limited | 0.96% | up 0.08 pts | ₹15.6 Cr | up ₹1.6 Cr | Added |
| Mahindra & Mahindra Financial Services Limited | 0.78% | up 0.04 pts | ₹12.7 Cr | up ₹98 L | Added |
| Zaggle Prepaid Ocean Services Limited | 0.77% | down 0.12 pts | ₹12.5 Cr | down ₹1.6 Cr | Trimmed |
| ICICI Lombard General Insurance Company Limited | 0.76% | down 0.02 pts | ₹12.4 Cr | down ₹5 L | Held |
| Seshaasai Technologies Limited | 0.63% | down 0.09 pts | ₹10.2 Cr | down ₹1.1 Cr | Trimmed |
| Life Insurance Corporation Of India | 0.44% | down 0.03 pts | ₹7.2 Cr | down ₹33 L | Trimmed |
| ICICI Prudential Asset Management Company Limited | 0.35% | up 0.35 pts | ₹5.6 Cr | up ₹5.6 Cr | New |
| Power Finance Corporation Limited | <0.01% | down <0.01 pts | ₹4 L | down ₹0 L | Trimmed |
What changed, Nov 2025 to Dec 2025
New New positions (2)
- Shriram Transport Finance Company Limited1.1% · ₹18.6 Cr
- ICICI Prudential Asset Management Company Limited0.3% · ₹5.6 Cr
Exited Exited (0)
None.
Added Biggest additions
- Bank of Maharashtraup ₹28 Cr (+1.71% pts)
- Canara HSBC Life Insurance Co Ltdup ₹18.8 Cr (+1.10% pts)
- Aditya Birla Capital Limitedup ₹11.1 Cr (+0.60% 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 Nov 2025, the weight rose most in Insurance (+0.6 pts) and Finance (+0.5 pts), and fell most in Banks (−0.7 pts) and Financial Technology (fintech) (−0.3 pts).
- Insurance12.9% → 13.4%+0.6 pts
- Finance21.6% → 22.1%+0.5 pts
- Banks48.0% → 47.4%−0.7 pts
- Financial Technology (fintech)3.8% → 3.5%−0.3 pts
- IT - Services0.9% → 0.8%−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 | Dec 2024 | Jun 2025 | Sep 2025 | Nov 2025 | Dec 2025 |
|---|---|---|---|---|---|
| Banks | 50.3% | 37.4% | 39.0% | 48.0% | 47.4% |
| Finance | 34.7% | 40.4% | 39.1% | 21.6% | 22.1% |
| Insurance | 6.7% | 10.0% | 9.5% | 12.9% | 13.4% |
| Capital Markets | 6.3% | 11.0% | 11.0% | 12.8% | 12.8% |
| Financial Technology (fintech) | — | — | 0.5% | 3.8% | 3.5% |
| IT - Services | 2.1% | 1.2% | 1.0% | 0.9% | 0.8% |
Allocation in Dec 2025change vs Nov 2025
- Banks (10)47.4%▼ 0.7 pts
- Finance (11)22.1%▲ 0.5 pts
- Insurance (6)13.4%▲ 0.6 pts
- Capital Markets (6)12.8%
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. More on reading cash.
Cash & debt, Dec 2025
2.3%
▼ 3.1 pts vs Nov 2025
- Cash alone
- 2.3%
- cash and net receivables
- A year earlier
- 11.1%
- Dec 2024 · now ▼ 8.9 pts
- Last 12 months
- 2.3% – 19.4%
- 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.