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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
₹1,729 Cr
up ₹62.5 Cr vs Jan 2026
- Stocks held
- 37
- up 1 vs Jan 2026
- Top 10 weight
- 57.5%
- 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 February 2026 it disclosed 37 stocks worth ₹1,729 Cr, up ₹62.5 Cr from Jan 2026. Its largest positions were ICICI Bank Limited (11.6%), Axis Bank Limited (7.8%), State Bank of India (6.4%); the ten largest together made up 57.5% of the portfolio, and Banks was the biggest sector at 50.8% of its equity. Cash and debt stood at 2.3%. Compared with Jan 2026 the fund entered 2 new stocks and exited 1.
Against 229 other Sectoral / Thematic funds
Concentration
76%
Top-10 weight is higher than 76% of peers
Breadth
34%
Holds more stocks than 34% of peers
Cash
31%
Holds more cash than 31% of peers
What these mean: concentration · cash
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. New to these? How to read a portfolio.
| ICICI Bank Limited | 11.57% | down 1.30 pts | ₹200 Cr | down ₹14.4 Cr | Trimmed |
| Axis Bank Limited | 7.78% | down 0.21 pts | ₹135 Cr | up ₹1.3 Cr | Added |
| State Bank of India | 6.41% | down 0.86 pts | ₹111 Cr | down ₹10.3 Cr | Trimmed |
| Kotak Mahindra Bank Limited | 5.42% | down 0.11 pts | ₹93.8 Cr | up ₹1.6 Cr | Added |
| HDFC Bank Limited | 4.70% | up 0.63 pts | ₹81.3 Cr | up ₹13.4 Cr | Added |
| Multi Commodity Exchange of India Limited | 4.69% | down 0.34 pts | ₹81.1 Cr | down ₹2.8 Cr | Trimmed |
| Bajaj Finance Limited | 4.66% | up 0.15 pts | ₹80.7 Cr | up ₹5.4 Cr | Added |
| SBI Life Insurance Company Limited | 4.52% | down 0.08 pts | ₹78.2 Cr | up ₹1.5 Cr | Added |
| Ujjivan Small Finance Bank Limited | 4.05% | up 0.35 pts | ₹70 Cr | up ₹8.3 Cr | Added |
| Aditya Birla Capital Limited | 3.65% | up 0.07 pts | ₹63.1 Cr | up ₹3.4 Cr | Added |
| Canara HSBC Life Insurance Co Ltd | 3.53% | up 0.27 pts | ₹61 Cr | up ₹6.8 Cr | Added |
| Max Financial Services Limited | 3.05% | up 0.23 pts | ₹52.8 Cr | up ₹5.8 Cr | Added |
| PB Fintech Limited | 2.98% | up 0.14 pts | ₹51.5 Cr | up ₹4.1 Cr | Added |
| Bank of Maharashtra | 2.95% | up 0.28 pts | ₹50.9 Cr | up ₹6.5 Cr | Added |
| Bank of Baroda | 2.92% | up 0.17 pts | ₹50.5 Cr | up ₹4.6 Cr | Added |
| Nippon Life India Asset Management Limited | 2.86% | up 0.06 pts | ₹49.5 Cr | up ₹2.8 Cr | Added |
| Cholamandalam Investment and Finance Company Limited | 2.43% | up 0.05 pts | ₹41.9 Cr | up ₹2.4 Cr | Added |
| Aadhar Housing Finance Limited | 2.41% | up 2.41 pts | ₹41.6 Cr | up ₹41.6 Cr | New |
| Cash, TREPS & receivables | 2.33% | down 1.56 pts | ₹40.3 Cr | down ₹24.6 Cr | Trimmed |
| L&T Finance Limited | 2.27% | down 0.11 pts | ₹39.2 Cr | down ₹33 L | Trimmed |
| City Union Bank Limited | 2.18% | up 2.18 pts | ₹37.7 Cr | up ₹37.7 Cr | New |
| PNB Housing Finance Limited | 1.90% | up 0.22 pts | ₹32.9 Cr | up ₹4.9 Cr | Added |
| Angel One Limited | 1.74% | up 0.37 pts | ₹30.1 Cr | up ₹7.2 Cr | Added |
| Canara Robeco Mutual Fund | 1.42% | down 0.28 pts | ₹24.5 Cr | down ₹3.8 Cr | Trimmed |
| Prudent Corporate Advisory Services Limited | 1.21% | down 0.07 pts | ₹20.9 Cr | down ₹42 L | Trimmed |
| Shriram Transport Finance Company Limited Shriram Finance Limited · history in this fund | 1.17% | up 0.02 pts | ₹20.2 Cr | up ₹1.1 Cr | Added |
| Karur Vysya Bank Limited | 1.14% | up 0.05 pts | ₹19.6 Cr | up ₹1.5 Cr | Added |
| Tata Capital Limited | 0.96% | down 0.06 pts | ₹16.6 Cr | down ₹42 L | Trimmed |
| Niva Bupa Health Insurance Company Limited | 0.90% | down 0.08 pts | ₹15.6 Cr | down ₹79 L | Trimmed |
| Mahindra & Mahindra Financial Services Limited | 0.68% | down 0.03 pts | ₹11.8 Cr | down ₹4 L | Held |
| Seshaasai Technologies Limited | 0.53% | down 0.03 pts | ₹9.2 Cr | down ₹24 L | Trimmed |
| CSB Bank Limited | 0.49% | down 0.40 pts | ₹8.4 Cr | down ₹6.4 Cr | Trimmed |
| ICICI Prudential Asset Management Company Limited | 0.38% | up <0.01 pts | ₹6.6 Cr | up ₹30 L | Added |
| Zaggle Prepaid Ocean Services Limited | 0.10% | down 0.51 pts | ₹1.7 Cr | down ₹8.5 Cr | Trimmed |
| Bajaj Finserv Limited | 0.01% | down <0.01 pts | ₹22 L | up ₹0 L | Added |
| ICICI Lombard General Insurance Company Limited | 0.01% | down 0.68 pts | ₹10 L | down ₹11.4 Cr | Trimmed |
| Life Insurance Corporation Of India | 0.01% | down <0.01 pts | ₹9 L | up ₹0 L | Added |
| Power Finance Corporation Limited | <0.01% | up <0.01 pts | ₹4 L | up ₹0 L | Added |
What changed, Jan 2026 to Feb 2026
New New positions (2)
- Aadhar Housing Finance Limited2.4% · ₹41.6 Cr
- City Union Bank Limited2.2% · ₹37.7 Cr
Exited Exited (1)
- HDB Financial Services Limitedwas 0.9% · ₹15.2 Cr
Added Biggest additions
- HDFC Bank Limitedup ₹13.4 Cr (+0.63% pts)
- Ujjivan Small Finance Bank Limitedup ₹8.3 Cr (+0.35% pts)
- Angel One Limited ₹7.2 Cr (+0.37% 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 Finance (+1.5 pts), and fell most in Insurance (−0.6 pts) and IT - Services (−0.5 pts).
- Finance19.1% → 20.6%+1.5 pts
- Insurance12.9% → 12.3%−0.6 pts
- IT - Services0.6% → 0.1%−0.5 pts
- Capital Markets13.1% → 12.6%−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 | Feb 2025 | Aug 2025 | Nov 2025 | Jan 2026 | Feb 2026 |
|---|---|---|---|---|---|
| Banks | 40.6% | 40.0% | 48.0% | 50.8% | 50.8% |
| Finance | 41.0% | 38.9% | 21.6% | 19.1% | 20.6% |
| Capital Markets | 4.0% | 9.6% | 12.8% | 13.1% | 12.6% |
| Insurance | 12.9% | 10.2% | 12.9% | 12.9% | 12.3% |
| Financial Technology (fintech) | — | — | 3.8% | 3.5% | 3.6% |
| IT - Services | 1.5% | 1.2% | 0.9% | 0.6% | 0.1% |
Allocation in Feb 2026change vs Jan 2026
- Banks (11)50.8%
- Finance (11)20.6%▲ 1.5 pts
- Capital Markets (6)12.6%▼ 0.5 pts
- Insurance (6)12.3%▼ 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, Feb 2026
2.3%
▼ 1.6 pts vs Jan 2026
- Cash alone
- 2.3%
- cash and net receivables
- A year earlier
- 18.7%
- Feb 2025 · now ▼ 16.3 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.