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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
₹213 Cr
down ₹8.4 Cr vs Dec 2025
- Stocks held
- 51
- unchanged
- Top 10 weight
- 54.5%
- of the portfolio in its ten largest
- Cash & debt
- 0.1%
- cash, money market and debt
- Moves this month
- 0 in · 0 out
- added to 10, trimmed 29
SBI Equity Minimum Variance Fund is an active equity fund in the Sectoral / Thematic category from SBI Mutual Fund. In January 2026 it disclosed 51 stocks worth ₹213 Cr, down ₹8.4 Cr from Dec 2025. Its largest positions were Nestle India Limited (8.6%), Hindustan Unilever Limited (8.4%), ITC Limited (7.6%); the ten largest together made up 54.5% of the portfolio, and Diversified FMCG was the biggest sector at 16.0% of its equity. Cash and debt stood at 0.1%. Compared with Dec 2025 the fund entered 0 new stocks and exited 0.
Against 226 other Sectoral / Thematic funds
Concentration
71%
Top-10 weight is higher than 71% of peers
Breadth
67%
Holds more stocks than 67% of peers
Cash
1%
Holds more cash than 1% of peers
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.
- Weight
- 8.62%
- Δ weight
- up 0.06 pts
- Value
- ₹18.4 Cr
- Δ value
- down ₹59 L
- Status
- Trimmed
- Weight
- 8.37%
- Δ weight
- up 1.31 pts
- Value
- ₹17.8 Cr
- Δ value
- up ₹2.2 Cr
- Status
- Added
- Weight
- 7.62%
- Δ weight
- down 0.07 pts
- Value
- ₹16.2 Cr
- Δ value
- down ₹80 L
- Status
- Trimmed
- Weight
- 7.21%
- Δ weight
- down 0.26 pts
- Value
- ₹15.4 Cr
- Δ value
- down ₹1.2 Cr
- Status
- Trimmed
- Weight
- 5.02%
- Δ weight
- up 0.43 pts
- Value
- ₹10.7 Cr
- Δ value
- up ₹54 L
- Status
- Added
- Weight
- 4.97%
- Δ weight
- down 0.32 pts
- Value
- ₹10.6 Cr
- Δ value
- down ₹1.1 Cr
- Status
- Trimmed
- Weight
- 3.38%
- Δ weight
- up 0.28 pts
- Value
- ₹7.2 Cr
- Δ value
- up ₹35 L
- Status
- Added
- Weight
- 3.30%
- Δ weight
- down 0.29 pts
- Value
- ₹7 Cr
- Δ value
- down ₹91 L
- Status
- Trimmed
- Weight
- 3.12%
- Δ weight
- up 0.97 pts
- Value
- ₹6.7 Cr
- Δ value
- up ₹1.9 Cr
- Status
- Added
- Weight
- 2.88%
- Δ weight
- up 0.06 pts
- Value
- ₹6.1 Cr
- Δ value
- down ₹10 L
- Status
- Trimmed
- Weight
- 2.49%
- Δ weight
- down 2.31 pts
- Value
- ₹5.3 Cr
- Δ value
- down ₹5.3 Cr
- Status
- Trimmed
- Weight
- 2.04%
- Δ weight
- down 1.12 pts
- Value
- ₹4.3 Cr
- Δ value
- down ₹2.6 Cr
- Status
- Trimmed
- Weight
- 1.89%
- Δ weight
- down 0.02 pts
- Value
- ₹4 Cr
- Δ value
- down ₹19 L
- Status
- Trimmed
- Weight
- 1.72%
- Δ weight
- up 0.63 pts
- Value
- ₹3.7 Cr
- Δ value
- up ₹1.2 Cr
- Status
- Added
- Weight
- 1.69%
- Δ weight
- up 0.02 pts
- Value
- ₹3.6 Cr
- Δ value
- down ₹11 L
- Status
- Trimmed
- Weight
- 1.15%
- Δ weight
- up 0.19 pts
- Value
- ₹2.5 Cr
- Δ value
- up ₹33 L
- Status
- Added
- Weight
- 1.15%
- Δ weight
- up 0.20 pts
- Value
- ₹2.5 Cr
- Δ value
- up ₹36 L
- Status
- Added
- Weight
- 1.12%
- Δ weight
- up 0.14 pts
- Value
- ₹2.4 Cr
- Δ value
- up ₹22 L
- Status
- Added
- Weight
- 1.12%
- Δ weight
- up 0.04 pts
- Value
- ₹2.4 Cr
- Δ value
- up ₹1 L
- Status
- Held
- Weight
- 1.12%
- Δ weight
- up 0.03 pts
- Value
- ₹2.4 Cr
- Δ value
- down ₹3 L
- Status
- Trimmed
- Weight
- 1.12%
- Δ weight
- up 0.04 pts
- Value
- ₹2.4 Cr
- Δ value
- down ₹1 L
- Status
- Held
- Weight
- 1.10%
- Δ weight
- up 0.18 pts
- Value
- ₹2.4 Cr
- Δ value
- up ₹31 L
- Status
- Added
- Weight
- 1.09%
- Δ weight
- up 0.07 pts
- Value
- ₹2.3 Cr
- Δ value
- up ₹7 L
- Status
- Added
- Weight
- 1.08%
- Δ weight
- down 0.04 pts
- Value
- ₹2.3 Cr
- Δ value
- down ₹18 L
- Status
- Trimmed
- Weight
- 1.07%
- Δ weight
- down 0.05 pts
- Value
- ₹2.3 Cr
- Δ value
- down ₹21 L
- Status
- Trimmed
- Weight
- 1.06%
- Δ weight
- up 0.09 pts
- Value
- ₹2.3 Cr
- Δ value
- up ₹11 L
- Status
- Added
- Weight
- 1.05%
- Δ weight
- up 0.12 pts
- Value
- ₹2.2 Cr
- Δ value
- up ₹18 L
- Status
- Added
- Weight
- 1.04%
- Δ weight
- up 0.01 pts
- Value
- ₹2.2 Cr
- Δ value
- down ₹6 L
- Status
- Trimmed
- Shriram Transport Finance Company LimitedShriram Finance Limited · history in this fund
- Weight
- 1.04%
- Δ weight
- down 0.50 pts
- Value
- ₹2.2 Cr
- Δ value
- down ₹1.2 Cr
- Status
- Trimmed
- Weight
- 1.04%
- Δ weight
- down 0.04 pts
- Value
- ₹2.2 Cr
- Δ value
- down ₹17 L
- Status
- Trimmed
- Weight
- 1.02%
- Δ weight
- up 0.04 pts
- Value
- ₹2.2 Cr
- Δ value
- down ₹0 L
- Status
- Held
- Weight
- 1.02%
- Δ weight
- down 0.14 pts
- Value
- ₹2.2 Cr
- Δ value
- down ₹39 L
- Status
- Trimmed
- Weight
- 1.00%
- Δ weight
- up 0.01 pts
- Value
- ₹2.1 Cr
- Δ value
- down ₹7 L
- Status
- Trimmed
- Weight
- 1.00%
- Δ weight
- up 0.18 pts
- Value
- ₹2.1 Cr
- Δ value
- up ₹31 L
- Status
- Added
- Weight
- 0.99%
- Δ weight
- up 0.02 pts
- Value
- ₹2.1 Cr
- Δ value
- down ₹4 L
- Status
- Trimmed
- Weight
- 0.99%
- Δ weight
- down 0.02 pts
- Value
- ₹2.1 Cr
- Δ value
- down ₹12 L
- Status
- Trimmed
- Weight
- 0.98%
- Δ weight
- down 0.07 pts
- Value
- ₹2.1 Cr
- Δ value
- down ₹24 L
- Status
- Trimmed
- Weight
- 0.98%
- Δ weight
- up 0.08 pts
- Value
- ₹2.1 Cr
- Δ value
- up ₹8 L
- Status
- Added
- Weight
- 0.98%
- Δ weight
- up 0.46 pts
- Value
- ₹2.1 Cr
- Δ value
- up ₹94 L
- Status
- Added
- Weight
- 0.98%
- Δ weight
- down 0.09 pts
- Value
- ₹2.1 Cr
- Δ value
- down ₹29 L
- Status
- Trimmed
- Weight
- 0.97%
- Δ weight
- up 0.03 pts
- Value
- ₹2.1 Cr
- Δ value
- down ₹3 L
- Status
- Trimmed
- Weight
- 0.96%
- Δ weight
- down 0.10 pts
- Value
- ₹2 Cr
- Δ value
- down ₹29 L
- Status
- Trimmed
- Weight
- 0.93%
- Δ weight
- down 0.10 pts
- Value
- ₹2 Cr
- Δ value
- down ₹31 L
- Status
- Trimmed
- Weight
- 0.93%
- Δ weight
- up 0.03 pts
- Value
- ₹2 Cr
- Δ value
- down ₹0 L
- Status
- Held
- Weight
- 0.93%
- Δ weight
- up 0.07 pts
- Value
- ₹2 Cr
- Δ value
- up ₹7 L
- Status
- Added
- Weight
- 0.92%
- Δ weight
- up 0.06 pts
- Value
- ₹2 Cr
- Δ value
- up ₹6 L
- Status
- Added
- Weight
- 0.91%
- Δ weight
- down 0.20 pts
- Value
- ₹1.9 Cr
- Δ value
- down ₹51 L
- Status
- Trimmed
- Weight
- 0.89%
- Δ weight
- down 0.11 pts
- Value
- ₹1.9 Cr
- Δ value
- down ₹31 L
- Status
- Trimmed
- Weight
- 0.89%
- Δ weight
- up 0.01 pts
- Value
- ₹1.9 Cr
- Δ value
- down ₹5 L
- Status
- Trimmed
- Weight
- 0.87%
- Δ weight
- down 0.09 pts
- Value
- ₹1.9 Cr
- Δ value
- down ₹27 L
- Status
- Trimmed
- Weight
- 0.13%
- Δ weight
- up <0.01 pts
- Value
- ₹27 L
- Δ value
- —
- Status
- Held
- Cash, TREPS & receivables
- Weight
- 0.07%
- Δ weight
- up 0.08 pts
- Value
- ₹16 L
- Δ value
- up ₹16 L
- Status
- Added
What changed, Dec 2025 to Jan 2026
New New positions (0)
None.
Exited Exited (0)
None.
Added Biggest additions
- Hindustan Unilever Limitedup ₹2.2 Cr (+1.31% pts)
- Apollo Hospitals Enterprise Limitedup ₹1.9 Cr (+0.97% pts)
- SBI Life Insurance Company Limitedup ₹1.2 Cr (+0.63% pts)
- Tata Motors Limitedup ₹94 L (+0.46% pts)
- Tata Consumer Products Limited ₹54 L (+0.43% 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 Diversified FMCG (+1.2 pts) and Healthcare Services (+1.0 pts), and fell most in Consumer Durables (−2.4 pts) and Telecom - Services (−1.1 pts).
- Diversified FMCG14.7% → 16.0%+1.2 pts
- Healthcare Services3.0% → 4.1%+1.0 pts
- Insurance2.8% → 3.4%+0.6 pts
- Agricultural Food & Other Products4.6% → 5.0%+0.4 pts
- Automobiles4.6% → 4.9%+0.3 pts
- Cement & Cement Products1.9% → 2.1%+0.2 pts
- Consumer Durables6.0% → 3.5%−2.4 pts
- Telecom - Services3.2% → 2.0%−1.1 pts
- Pharmaceuticals & Biotechnology14.7% → 14.1%−0.6 pts
- Finance4.4% → 3.9%−0.5 pts
- Petroleum Products1.1% → 0.9%−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 2023 | Jan 2025 | Jul 2025 | Oct 2025 | Dec 2025 | Jan 2026 |
|---|---|---|---|---|---|---|
| Diversified FMCG | 9.4% | 12.3% | 15.3% | 15.6% | 14.7% | 16.0% |
| Pharmaceuticals & Biotechnology | 19.9% | 15.3% | 13.6% | 14.4% | 14.7% | 14.1% |
| Banks | 5.6% | 7.0% | 9.8% | 9.8% | 9.9% | 9.9% |
| Food Products | 16.0% | 15.8% | 7.7% | 8.5% | 8.7% | 8.8% |
| IT - Software | 10.6% | 12.4% | 8.0% | 6.7% | 7.2% | 7.1% |
| Agricultural Food & Other Products | 1.0% | 1.1% | 3.8% | 4.5% | 4.6% | 5.0% |
| Automobiles | 6.5% | 6.0% | 6.0% | 4.5% | 4.6% | 4.9% |
| Healthcare Services | 1.0% | 5.5% | 6.6% | 3.3% | 3.0% | 4.1% |
| Finance | 2.8% | 3.0% | 3.9% | 4.2% | 4.4% | 3.9% |
| Consumer Durables | 1.8% | 2.1% | 3.9% | 5.4% | 6.0% | 3.5% |
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.
Cash & debt, Jan 2026
0.1%
▲ 0.1 pts vs Dec 2025
- Cash alone
- 0.1%
- cash and net receivables
- A year earlier
- 0.1%
- Jan 2025
- Last 12 months
- −<0.1% – 0.3%
- lowest to highest · record 0.3% in Jun 2025
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.