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Sectoral / Thematic · SBI Mutual Fund · AMFI code 146641SBI Equity Minimum Variance Fund
Disclosed for 41 months, Jan 2023 to Sep 2026.
Portfolio value
₹208 Cr
down ₹7.1 Cr vs Jul 2026
- Stocks held
- 50
- unchanged
- Top 10 weight
- 57.2%
- of the portfolio in its ten largest
SBI Equity Minimum Variance Fund is an active equity fund in the Sectoral / Thematic category from SBI Mutual Fund. In August 2026 it disclosed 50 stocks worth ₹208 Cr, down ₹7.1 Cr from Jul 2026. Its largest positions were Sun Pharmaceutical Industries Limited (8.5%), Nestle India Limited (8.3%), Apollo Hospitals Enterprise Limited (8.2%); the ten largest together made up 57.2% of the portfolio, and Pharmaceuticals & Biotechnology was the biggest sector at 16.5% of its equity. Cash and debt stood at 0.9%. Compared with Jul 2026 the fund entered 0 new stocks and exited 0.
Against 229 other Sectoral / Thematic funds
Concentration
76%
Top-10 weight is higher than 76% of peers
Breadth
64%
Holds more stocks than 64% of peers
Cash
11%
Holds more cash than 11% of peers
What these mean: concentration · cash
Holdings in August 2026
Download CSVEvery line the fund disclosed, with the change against Jul 2026. Click a column to sort; click a company to see every fund that owns it. New to these? How to read a portfolio.
| Sun Pharmaceutical Industries Limited | 8.48% | up 0.18 pts | ₹17.6 Cr | down ₹21 L | Trimmed |
| Nestle India Limited | 8.27% | up 0.13 pts | ₹17.2 Cr | down ₹31 L | Trimmed |
| Apollo Hospitals Enterprise Limited | 8.18% | up 0.15 pts | ₹17 Cr | down ₹27 L | Trimmed |
| Hindustan Unilever Limited | 5.71% | down 0.24 pts | ₹11.9 Cr | down ₹92 L | Trimmed |
| Tata Consumer Products Limited | 4.91% | down 0.09 pts | ₹10.2 Cr | down ₹55 L | Trimmed |
| ITC Limited | 4.90% | down 0.36 pts | ₹10.2 Cr | down ₹1.1 Cr | Trimmed |
| Cipla Limited | 4.74% | down 0.09 pts | ₹9.9 Cr | down ₹54 L | Trimmed |
| Tech Mahindra Limited | 4.60% | up 0.05 pts | ₹9.6 Cr | down ₹23 L | Trimmed |
| Coal India Limited | 4.35% | down 0.03 pts | ₹9 Cr | down ₹37 L | Trimmed |
| Dr. Reddy's Laboratories Limited | 3.12% | up 0.09 pts | ₹6.5 Cr | down ₹2 L | Held |
| Bharti Airtel Limited | 1.89% | down 0.12 pts | ₹3.9 Cr | down ₹39 L | Trimmed |
| Asian Paints Limited | 1.45% | down 0.01 pts | ₹3 Cr | down ₹14 L | Trimmed |
| Bajaj Auto Limited | 1.23% | up 0.09 pts | ₹2.6 Cr | up ₹11 L | Added |
| HCL Technologies Limited | 1.22% | down <0.01 pts | ₹2.5 Cr | down ₹9 L | Trimmed |
| Eternal Limited | 1.17% | up 0.12 pts | ₹2.4 Cr | up ₹17 L | Added |
| Tata Consultancy Services Limited | 1.16% | up 0.04 pts | ₹2.4 Cr | up ₹1 L | Added |
| Titan Company Limited | 1.14% | up 0.08 pts | ₹2.4 Cr | up ₹8 L | Added |
| Eicher Motors Limited | 1.10% | up 0.04 pts | ₹2.3 Cr | up ₹1 L | Added |
| Infosys Limited | 1.09% | up 0.03 pts | ₹2.3 Cr | down ₹1 L | Trimmed |
| Bajaj Finserv Limited | 1.09% | up 0.02 pts | ₹2.3 Cr | down ₹3 L | Trimmed |
| Hindalco Industries Limited | 1.07% | up 0.07 pts | ₹2.2 Cr | up ₹7 L | Added |
| JSW Steel Limited | 1.07% | up 0.06 pts | ₹2.2 Cr | up ₹4 L | Added |
| Grasim Industries Limited | 1.06% | up 0.11 pts | ₹2.2 Cr | up ₹16 L | Added |
| Wipro Limited | 1.06% | up 0.03 pts | ₹2.2 Cr | down ₹1 L | Held |
| Kotak Mahindra Bank Limited | 1.05% | up 0.10 pts | ₹2.2 Cr | up ₹13 L | Added |
| Shriram Transport Finance Company Limited Shriram Finance Limited · history in this fund | 1.04% | up 0.08 pts | ₹2.2 Cr | up ₹10 L | Added |
| ICICI Bank Limited | 1.04% | up 0.04 pts | ₹2.2 Cr | up ₹1 L | Held |
| Bajaj Finance Limited | 1.04% | down 0.06 pts | ₹2.2 Cr | down ₹19 L | Trimmed |
| Mahindra & Mahindra Limited | 1.03% | down 0.01 pts | ₹2.1 Cr | down ₹10 L | Trimmed |
| State Bank of India | 1.01% | up 0.05 pts | ₹2.1 Cr | up ₹5 L | Added |
| Jio Financial Services Limited | 1.01% | down 0.04 pts | ₹2.1 Cr | down ₹15 L | Trimmed |
| Bharat Electronics Limited | 1.00% | up 0.09 pts | ₹2.1 Cr | up ₹12 L | Added |
| Larsen & Toubro Limited | 1.00% | up 0.05 pts | ₹2.1 Cr | up ₹4 L | Added |
| UltraTech Cement Limited | 0.99% | down 0.01 pts | ₹2.1 Cr | down ₹10 L | Trimmed |
| Oil & Natural Gas Corporation Limited | 0.98% | down 0.02 pts | ₹2 Cr | down ₹11 L | Trimmed |
| Tata Steel Limited | 0.98% | down <0.01 pts | ₹2 Cr | down ₹8 L | Trimmed |
| Reliance Industries Limited | 0.98% | up <0.01 pts | ₹2 Cr | down ₹7 L | Trimmed |
| SBI Life Insurance Company Limited | 0.97% | down 0.05 pts | ₹2 Cr | down ₹18 L | Trimmed |
| InterGlobe Aviation Limited | 0.96% | up 0.03 pts | ₹2 Cr | up ₹1 L | Held |
| Axis Bank Limited | 0.95% | up 0.07 pts | ₹2 Cr | up ₹9 L | Added |
| HDFC Life Insurance Company Limited | 0.95% | up 0.01 pts | ₹2 Cr | down ₹4 L | Trimmed |
| Maruti Suzuki India Limited | 0.94% | down 0.02 pts | ₹2 Cr | down ₹12 L | Trimmed |
| Max Healthcare Institute Limited | 0.92% | down 0.03 pts | ₹1.9 Cr | down ₹12 L | Trimmed |
| Power Grid Corporation of India Limited | 0.91% | down 0.05 pts | ₹1.9 Cr | down ₹17 L | Trimmed |
| NTPC Limited | 0.91% | down 0.03 pts | ₹1.9 Cr | down ₹13 L | Trimmed |
| Cash, TREPS & receivables | 0.90% | down 0.39 pts | ₹1.9 Cr | down ₹90 L | Trimmed |
| Adani Enterprises Limited | 0.90% | down 0.02 pts | ₹1.9 Cr | down ₹12 L | Trimmed |
| Tata Motors Limited | 0.89% | down 0.07 pts | ₹1.9 Cr | down ₹20 L | Trimmed |
| HDFC Bank Limited | 0.89% | down 0.03 pts | ₹1.9 Cr | down ₹12 L | Trimmed |
| Trent Limited | 0.87% | down 0.02 pts | ₹1.8 Cr | down ₹10 L | Trimmed |
What changed, Jul 2026 to Aug 2026
New New positions (0)
None.
Exited Exited (0)
None.
Added Biggest additions
- Eternal Limitedup ₹17 L (+0.12% pts)
- Grasim Industries Limitedup ₹16 L (+0.11% pts)
- Kotak Mahindra Bank Limitedup ₹13 L (+0.10% pts)
- Bharat Electronics Limitedup ₹12 L (+0.09% pts)
- Bajaj Auto Limitedup ₹11 L (+0.09% 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 Jul 2026, the weight rose most in Banks (+0.2 pts) and Pharmaceuticals & Biotechnology (+0.1 pts), and fell most in Diversified FMCG (−0.6 pts) and Telecom - Services (−0.1 pts).
- Banks4.8% → 5.0%+0.2 pts
- Pharmaceuticals & Biotechnology16.4% → 16.5%+0.1 pts
- IT - Software9.1% → 9.2%+0.1 pts
- Diversified FMCG11.4% → 10.7%−0.6 pts
- Telecom - Services2.0% → 1.9%−0.1 pts
- Agricultural Food & Other Products5.1% → 4.9%−0.1 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 | Aug 2023 | Aug 2025 | Feb 2026 | May 2026 | Jul 2026 | Aug 2026 |
|---|---|---|---|---|---|---|
| Pharmaceuticals & Biotechnology | 22.5% | 13.1% | 14.9% | 16.5% | 16.4% | 16.5% |
| Diversified FMCG | 9.1% | 15.7% | 15.6% | 13.9% | 11.4% | 10.7% |
| IT - Software | 12.4% | 8.0% | 5.8% | 7.1% | 9.1% | 9.2% |
| Healthcare Services | 0.9% | 6.7% | 4.6% | 4.4% | 9.1% | 9.2% |
| Food Products | 14.7% | 7.8% | 8.3% | 8.8% | 8.2% | 8.3% |
| Automobiles | 5.9% | 6.5% | 5.1% | 5.2% | 5.2% | 5.2% |
| Banks | 5.9% | 9.3% | 9.9% | 6.3% | 4.8% | 5.0% |
| Agricultural Food & Other Products | 1.0% | 3.7% | 5.0% | 6.6% | 5.1% | 4.9% |
| Consumable Fuels | 1.0% | 1.0% | 1.1% | 2.0% | 4.4% | 4.4% |
| Finance | 1.9% | 3.8% | 4.0% | 4.0% | 4.2% | 4.2% |
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, Aug 2026
0.9%
▼ 0.4 pts vs Jul 2026
- Cash alone
- 0.9%
- cash and net receivables
- A year earlier
- 0.1%
- Aug 2025 · now ▲ 0.9 pts
- Last 12 months
- −<0.1% – 1.8%
- lowest to highest · record 1.8% in Mar 2026
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.