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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
₹1,667 Cr
up ₹43 Cr vs Dec 2025
- Stocks held
- 36
- unchanged
- Top 10 weight
- 59.2%
- of the portfolio in its ten largest
- Cash & debt
- 3.9%
- 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 January 2026 it disclosed 36 stocks worth ₹1,667 Cr, up ₹43 Cr from Dec 2025. Its largest positions were ICICI Bank Limited (12.9%), Axis Bank Limited (8.0%), State Bank of India (7.3%); the ten largest together made up 59.2% of the portfolio, and Banks was the biggest sector at 50.8% of its equity. Cash and debt stood at 3.9%. Compared with Dec 2025 the fund entered 0 new stocks and exited 0.
Against 229 other Sectoral / Thematic funds
Concentration
79%
Top-10 weight is higher than 79% of peers
Breadth
32%
Holds more stocks than 32% of peers
Cash
57%
Holds more cash than 57% of peers
What these mean: concentration · cash
Holdings in January 2026
Download CSVEvery line the fund disclosed, with the change against Dec 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 | 12.86% | down 0.22 pts | ₹214 Cr | up ₹1.9 Cr | Added |
| Axis Bank Limited | 8.00% | up 0.39 pts | ₹133 Cr | up ₹9.8 Cr | Added |
| State Bank of India | 7.27% | up 0.47 pts | ₹121 Cr | up ₹10.7 Cr | Added |
| Kotak Mahindra Bank Limited | 5.53% | up 1.43 pts | ₹92.2 Cr | up ₹25.6 Cr | Added |
| Multi Commodity Exchange of India Limited | 5.04% | up 0.48 pts | ₹83.9 Cr | up ₹10 Cr | Added |
| SBI Life Insurance Company Limited | 4.60% | down 0.21 pts | ₹76.7 Cr | down ₹1.4 Cr | Trimmed |
| Bajaj Finance Limited | 4.52% | down 0.40 pts | ₹75.3 Cr | down ₹4.6 Cr | Trimmed |
| HDFC Bank Limited | 4.07% | down 0.39 pts | ₹67.9 Cr | down ₹4.5 Cr | Trimmed |
| Cash, TREPS & receivables | 3.89% | up 1.64 pts | ₹64.9 Cr | up ₹28.3 Cr | Added |
| Ujjivan Small Finance Bank Limited | 3.70% | up 0.62 pts | ₹61.7 Cr | up ₹11.7 Cr | Added |
| Aditya Birla Capital Limited | 3.58% | down 0.29 pts | ₹59.7 Cr | down ₹3.1 Cr | Trimmed |
| Canara HSBC Life Insurance Co Ltd | 3.26% | down 0.11 pts | ₹54.3 Cr | down ₹31 L | Trimmed |
| PB Fintech Limited | 2.84% | up 0.07 pts | ₹47.4 Cr | up ₹2.3 Cr | Added |
| Max Financial Services Limited | 2.82% | up 0.02 pts | ₹47 Cr | up ₹1.6 Cr | Added |
| Nippon Life India Asset Management Limited | 2.80% | down 0.08 pts | ₹46.6 Cr | down ₹8 L | Held |
| Bank of Baroda | 2.75% | down 0.04 pts | ₹45.9 Cr | up ₹54 L | Added |
| Bank of Maharashtra | 2.67% | up 0.24 pts | ₹44.5 Cr | up ₹5.1 Cr | Added |
| L&T Finance Limited | 2.37% | down 0.31 pts | ₹39.6 Cr | down ₹4.1 Cr | Trimmed |
| Cholamandalam Investment and Finance Company Limited | 2.37% | down 0.17 pts | ₹39.5 Cr | down ₹1.7 Cr | Trimmed |
| Canara Robeco Mutual Fund | 1.70% | down 0.49 pts | ₹28.3 Cr | down ₹7.3 Cr | Trimmed |
| PNB Housing Finance Limited | 1.68% | down 0.32 pts | ₹28 Cr | down ₹4.4 Cr | Trimmed |
| Angel One Limited | 1.37% | up 0.07 pts | ₹22.9 Cr | up ₹1.8 Cr | Added |
| Prudent Corporate Advisory Services Limited | 1.28% | down <0.01 pts | ₹21.3 Cr | up ₹54 L | Added |
| Shriram Transport Finance Company Limited Shriram Finance Limited · history in this fund | 1.15% | down <0.01 pts | ₹19.1 Cr | up ₹45 L | Added |
| Karur Vysya Bank Limited | 1.09% | up 0.11 pts | ₹18.2 Cr | up ₹2.3 Cr | Added |
| Tata Capital Limited | 1.02% | down 0.03 pts | ₹17 Cr | up ₹1 L | Held |
| Niva Bupa Health Insurance Company Limited | 0.98% | up 0.02 pts | ₹16.4 Cr | up ₹72 L | Added |
| HDB Financial Services Limited | 0.91% | down 0.10 pts | ₹15.2 Cr | down ₹1.3 Cr | Trimmed |
| CSB Bank Limited | 0.89% | down 0.07 pts | ₹14.9 Cr | down ₹71 L | Trimmed |
| Mahindra & Mahindra Financial Services Limited | 0.71% | down 0.07 pts | ₹11.8 Cr | down ₹87 L | Trimmed |
| ICICI Lombard General Insurance Company Limited | 0.69% | down 0.08 pts | ₹11.5 Cr | down ₹94 L | Trimmed |
| Zaggle Prepaid Ocean Services Limited | 0.61% | down 0.16 pts | ₹10.2 Cr | down ₹2.3 Cr | Trimmed |
| Seshaasai Technologies Limited | 0.57% | down 0.06 pts | ₹9.4 Cr | down ₹76 L | Trimmed |
| ICICI Prudential Asset Management Company Limited | 0.38% | up 0.03 pts | ₹6.3 Cr | up ₹66 L | Added |
| Bajaj Finserv Limited | 0.01% | down 1.57 pts | ₹21 L | down ₹25.5 Cr | Trimmed |
| Life Insurance Corporation Of India | 0.01% | down 0.44 pts | ₹9 L | down ₹7.1 Cr | Trimmed |
| Power Finance Corporation Limited | <0.01% | up <0.01 pts | ₹4 L | up ₹0 L | Added |
What changed, Dec 2025 to Jan 2026
New New positions (0)
None.
Exited Exited (0)
None.
Added Biggest additions
- Kotak Mahindra Bank Limitedup ₹25.6 Cr (+1.43% pts)
- Ujjivan Small Finance Bank Limitedup ₹11.7 Cr (+0.62% pts)
- State Bank of Indiaup ₹10.7 Cr (+0.47% pts)
- Multi Commodity Exchange of India Limitedup ₹10 Cr (+0.48% pts)
- Axis Bank Limited ₹9.8 Cr (+0.39% 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 Dec 2025, the weight rose most in Banks (+3.5 pts) and Capital Markets (+0.2 pts), and fell most in Finance (−3.0 pts) and Insurance (−0.6 pts).
- Banks47.4% → 50.8%+3.5 pts
- Capital Markets12.8% → 13.1%+0.2 pts
- Finance22.1% → 19.1%−3.0 pts
- Insurance13.4% → 12.9%−0.6 pts
- IT - Services0.8% → 0.6%−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 | Jan 2025 | Jul 2025 | Oct 2025 | Dec 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Banks | 46.6% | 38.9% | 47.7% | 47.4% | 50.8% |
| Finance | 38.6% | 39.4% | 25.7% | 22.1% | 19.1% |
| Capital Markets | 4.5% | 10.1% | 13.1% | 12.8% | 13.1% |
| Insurance | 8.4% | 10.4% | 11.0% | 13.4% | 12.9% |
| Financial Technology (fintech) | — | — | 1.6% | 3.5% | 3.5% |
| IT - Services | 1.9% | 1.1% | 0.9% | 0.8% | 0.6% |
Allocation in Jan 2026change vs Dec 2025
- Banks (10)50.8%▲ 3.5 pts
- Finance (11)19.1%▼ 3.0 pts
- Capital Markets (6)13.1%▲ 0.2 pts
- Insurance (6)12.9%▼ 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. More on reading cash.
Cash & debt, Jan 2026
3.9%
▲ 1.6 pts vs Dec 2025
- Cash alone
- 3.9%
- cash and net receivables
- A year earlier
- 17.9%
- Jan 2025 · now ▼ 14.0 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.