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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
₹1,268 Cr
up ₹102 Cr vs May 2026
- Stocks held
- 43
- up 2 vs May 2026
- Top 10 weight
- 57.9%
- of the portfolio in its ten largest
- Largest position
- 13.1%
- NIFTY Jul26
- Cash & debt
- 5.7%
- cash, money market and debt
- Moves this month
- 3 in · 1 out
- added to 10, trimmed 14
DSP Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from DSP Mutual Fund. In June 2026 it disclosed 43 stocks worth ₹1,268 Cr, up ₹102 Cr from May 2026. Its largest positions were NIFTY Jul26 (13.1%), ICICI Bank Limited (9.2%), HDFC Bank Limited (9.1%); the ten largest together made up 57.9% of the portfolio, and Banks was the biggest sector at 32.2% of its equity. Cash and debt stood at 5.7%. Compared with May 2026 the fund entered 3 new stocks and exited 1.
Against 229 other Sectoral / Thematic funds
Concentration
78%
Top-10 weight is higher than 78% of peers
Breadth
49%
Holds more stocks than 49% of peers
Cash
76%
Holds more cash than 76% of peers
What these mean: concentration · cash
Holdings in June 2026
Download CSVEvery line the fund disclosed, with the change against May 2026. Click a column to sort; click a company to see every fund that owns it. New to these? How to read a portfolio.
| NIFTY Jul26 Derivative | 13.10% | up 13.10 pts | ₹166 Cr | up ₹166 Cr | New |
| ICICI Bank Limited | 9.24% | up 0.76 pts | ₹117 Cr | up ₹18.3 Cr | Added |
| HDFC Bank Limited | 9.15% | down 0.14 pts | ₹116 Cr | up ₹7.8 Cr | Added |
| Axis Bank Limited | 6.91% | down 0.28 pts | ₹87.7 Cr | up ₹3.9 Cr | Added |
| Cash, TREPS & receivables | 5.72% | down 12.04 pts | ₹72.5 Cr | down ₹135 Cr | Trimmed |
| Larsen & Toubro Limited | 3.96% | down 0.28 pts | ₹50.2 Cr | up ₹81 L | Added |
| Mahindra & Mahindra Limited | 3.64% | down 0.29 pts | ₹46.2 Cr | up ₹35 L | Added |
| Reliance Industries Limited | 3.18% | down 0.09 pts | ₹40.3 Cr | up ₹2.2 Cr | Added |
| UltraTech Cement Limited | 2.93% | up 0.06 pts | ₹37.2 Cr | up ₹3.7 Cr | Added |
| Maruti Suzuki India Limited | 2.91% | down 0.03 pts | ₹36.9 Cr | up ₹2.6 Cr | Added |
| Bharti Airtel Limited | 2.90% | down 0.21 pts | ₹36.7 Cr | up ₹46 L | Added |
| DLF Limited | 2.79% | down 0.10 pts | ₹35.4 Cr | up ₹1.7 Cr | Added |
| Asian Paints Limited | 2.64% | down 0.27 pts | ₹33.5 Cr | down ₹46 L | Trimmed |
| NTPC Limited | 2.51% | down 0.45 pts | ₹31.8 Cr | down ₹2.7 Cr | Trimmed |
| Hero MotoCorp Limited | 2.31% | down 0.26 pts | ₹29.3 Cr | down ₹66 L | Trimmed |
| Voltas Limited | 1.64% | down 0.10 pts | ₹20.8 Cr | up ₹52 L | Added |
| HDFC Life Insurance Company Limited | 1.57% | up 0.08 pts | ₹19.9 Cr | up ₹2.6 Cr | Added |
| Schaeffler India Limited | 1.55% | down 0.11 pts | ₹19.7 Cr | up ₹29 L | Added |
| Hyundai Motor India Ltd | 1.43% | down 0.14 pts | ₹18.1 Cr | down ₹18 L | Trimmed |
| Shree Cement Limited | 1.39% | up 0.09 pts | ₹17.6 Cr | up ₹2.5 Cr | Added |
| United Breweries Limited | 1.04% | down 0.08 pts | ₹13.1 Cr | up ₹17 L | Added |
| Nippon Life India Asset Management Limited | 1.01% | down 0.19 pts | ₹12.8 Cr | down ₹1.1 Cr | Trimmed |
| Carborundum Universal Limited | 1.00% | up 0.05 pts | ₹12.6 Cr | up ₹1.6 Cr | Added |
| Info Edge (India) Limited | 1.00% | up 0.19 pts | ₹12.6 Cr | up ₹3.2 Cr | Added |
| Apollo Tyres Limited | 0.97% | up <0.01 pts | ₹12.3 Cr | up ₹1 Cr | Added |
| Multi Commodity Exchange of India Limited | 0.95% | down 0.13 pts | ₹12 Cr | down ₹50 L | Trimmed |
| SBI Life Insurance Company Limited | 0.93% | up 0.17 pts | ₹11.8 Cr | up ₹2.9 Cr | Added |
| Max Financial Services Limited | 0.91% | down 0.14 pts | ₹11.5 Cr | down ₹65 L | Trimmed |
| Bayer Cropscience Limited | 0.88% | down 0.16 pts | ₹11.1 Cr | down ₹97 L | Trimmed |
| State Bank of India | 0.83% | down 0.02 pts | ₹10.5 Cr | up ₹64 L | Added |
| InterGlobe Aviation Limited | 0.82% | up 0.09 pts | ₹10.5 Cr | up ₹1.9 Cr | Added |
| Oil & Natural Gas Corporation Limited | 0.76% | up 0.76 pts | ₹9.6 Cr | up ₹9.6 Cr | New |
| Coromandel International Limited | 0.75% | down 0.38 pts | ₹9.5 Cr | down ₹3.6 Cr | Trimmed |
| Bharat Petroleum Corporation Limited | 0.73% | up 0.46 pts | ₹9.2 Cr | up ₹6.1 Cr | Added |
| Sudarshan Chemical Industries Limited | 0.70% | down 0.11 pts | ₹8.9 Cr | down ₹56 L | Trimmed |
| TVS Motor Company Limited | 0.64% | down 0.04 pts | ₹8.2 Cr | up ₹25 L | Added |
| Page Industries Limited | 0.64% | up 0.64 pts | ₹8.1 Cr | up ₹8.1 Cr | New |
| Hindustan Aeronautics Limited | 0.63% | down 0.04 pts | ₹8 Cr | up ₹14 L | Added |
| ICICI Prudential Life Insurance Company Limited | 0.59% | down 0.07 pts | ₹7.5 Cr | down ₹25 L | Trimmed |
| Siemens Limited | 0.59% | down 0.09 pts | ₹7.5 Cr | down ₹51 L | Trimmed |
| Trent Limited | 0.53% | up 0.04 pts | ₹6.8 Cr | up ₹96 L | Added |
| Hindustan Petroleum Corporation Limited | 0.49% | up 0.23 pts | ₹6.2 Cr | up ₹3.2 Cr | Added |
| JSW Infrastructure Ltd | 0.48% | down 0.53 pts | ₹6.1 Cr | down ₹5.7 Cr | Trimmed |
| Aditya Birla Sun Life AMC Limited | 0.36% | up 0.36 pts | ₹4.5 Cr | up ₹4.5 Cr | New |
| Siemens Energy India Limited | 0.28% | down 0.15 pts | ₹3.6 Cr | down ₹1.5 Cr | Trimmed |
| TVS Motor Company Ltd. Other | 0.03% | down <0.01 pts | ₹33 L | — | Held |
What changed, May 2026 to Jun 2026
New New positions (3)
- Oil & Natural Gas Corporation Limited0.8% · ₹9.6 Cr
- Page Industries Limited0.6% · ₹8.1 Cr
- Aditya Birla Sun Life AMC Limited0.4% · ₹4.5 Cr
Exited Exited (1)
- Kalpataru Projects International Limitedwas 0.2% · ₹1.9 Cr
Added Biggest additions
- ICICI Bank Limitedup ₹18.3 Cr (+0.76% pts)
- HDFC Bank Limitedup ₹7.8 Cr (−0.14% 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 May 2026, the weight rose most in Oil (+0.9 pts) and Banks (+0.8 pts), and fell most in Automobiles (−0.7 pts) and Transport Infrastructure (−0.6 pts).
- Oil0.0% → 0.9%new+0.9 pts
- Banks31.4% → 32.2%+0.8 pts
- Petroleum Products4.6% → 5.4%+0.8 pts
- Textiles & Apparels0.0% → 0.8%new+0.8 pts
- Retailing1.6% → 1.9%+0.3 pts
- Cement & Cement Products5.1% → 5.3%+0.3 pts
- Automobiles14.2% → 13.5%−0.7 pts
- Transport Infrastructure1.2% → 0.6%−0.6 pts
- Fertilizers & Agrochemicals2.6% → 2.0%−0.6 pts
- Power3.6% → 3.1%−0.5 pts
- Construction5.3% → 4.9%−0.5 pts
- Consumer Durables5.7% → 5.3%−0.4 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 | Jun 2025 | Dec 2025 | Mar 2026 | May 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Banks | 17.6% | 18.7% | 18.9% | 31.4% | 32.2% |
| Automobiles | 6.6% | 7.9% | 7.3% | 14.2% | 13.5% |
| Petroleum Products | — | — | — | 4.6% | 5.4% |
| Cement & Cement Products | — | — | — | 5.1% | 5.3% |
| Consumer Durables | 6.4% | 6.4% | 6.9% | 5.7% | 5.3% |
| Insurance | 2.1% | 2.1% | 2.1% | 4.8% | 4.9% |
| Construction | 2.9% | 2.8% | 2.0% | 5.3% | 4.9% |
| Telecom - Services | 2.6% | 3.9% | 3.6% | 3.8% | 3.6% |
| Realty | 2.1% | 1.8% | 1.7% | 3.5% | 3.4% |
| Auto Components | 2.4% | 2.9% | 5.2% | 3.2% | 3.1% |
Allocation in Jun 2026change vs May 2026
- Banks (4)32.2%▲ 0.8 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, Jun 2026
5.7%
▼ 12.0 pts vs May 2026
- Cash alone
- 5.7%
- cash and net receivables
- A year earlier
- 6.8%
- Jun 2025 · now ▼ 1.1 pts
- Last 12 months
- 4.5% – 17.8%
- 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.