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Focused Largecap 20 | Rebalance History

67 rebalances since 2021-05-14. Every IN, OUT, and retained holding per cycle. Rules-based, no discretion. The model decides; we publish what it decided.

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Sector rotation

67 rebalances . 8 sectors touched . 6 live today.

Darker cell . higher weight . blank . sector not held
Diversified
25%
Power & Utilities
25%
Metals & Mining
20%
Capital Goods
15%
Banking & Financial
10%
FMCG & Consumer
5%
Energy & Oil & Gas
out
Pharma & Healthcare
out
202120222023202420252026
Equal weighted at the stock level . source rebalance CSV . sector map curated against NSE listings . 2 sectors previously held now exited
Latest move . 2026-05-08 to 2026-05-11
In
Power & Utilities +6ppMetals & Mining +4ppDiversified +6ppCapital Goods +2pp
Out
Energy & Oil & Gas out (was 6%)Pharma & Healthcare out (was 3%)Banking & Financial -3ppFMCG & Consumer -5pp
tickers removed: UNIONBANK COALINDIA CUMMINSIND ONGC SBIN DMART JINDALSTEL TORNTPHARM TITAN POWERGRID TVSMOTOR
Rotation events . shifts 10pp or more
  1. 2026-04-10 Diversified -10pp added ADANIPOWER, UNIONBANK, CUMMINSIND, DMART, ADANIENSOL, TATAPOWER . removed JSWSTEEL, IOC, AXISBANK, BPCL
  2. 2026-02-13 Diversified -11pp added JINDALSTEL, PFC, ONGC, JSWSTEEL, NTPC, BEL, AXISBANK . removed ASIANPAINT, ADANIENSOL, HCLTECH, RELIANCE, TECHM
  3. 2026-01-16 Diversified -10pp added COALINDIA, TORNTPHARM, TATASTEEL, GODREJCP . removed BEL, BHARTIARTL, JSWSTEEL
  4. 2025-11-21 Diversified +11pp added BPCL, ASIANPAINT, SBILIFE, VEDL, LT, BHARTIARTL, TITAN . removed CGPOWER, DMART, MOTHERSON, ADANIGREEN, JINDALSTEL, ADANIENT, ADANIPORTS
  5. 2025-10-24 Banking & Financial +11pp, Diversified -10pp added SHRIRAMFIN, HINDZINC, BANKBARODA, AXISBANK, SBIN, PNB, IOC . removed JIOFIN, HINDUNILVR, TORNTPHARM, SBILIFE, HDFCLIFE, ASIANPAINT, BHARTIARTL, ZYDUSLIFE, TITAN
  6. 2025-09-26 Diversified -15pp, Power & Utilities +10pp added CGPOWER, MOTHERSON, JSWSTEEL, ADANIENSOL, ADANIGREEN, ADANIENT, CHOLAFIN . removed MAXHEALTH, BPCL, AMBUJACEM, DLF, HDFCBANK, ICICIBANK, IOC, PNB
  7. 2025-08-29 Diversified -16pp, Metals & Mining +10pp added HYUNDAI, DMART, HINDUNILVR, HINDALCO, ASIANPAINT, JINDALSTEL, TATASTEEL, ZYDUSLIFE, TITAN . removed MAZDOCK, LICI, RELIANCE, ICICIGI, GRASIM, LODHA
  8. 2025-05-09 Metals & Mining -13pp added SBILIFE, TVSMOTOR, M&M, RELIANCE, AXISBANK . removed HINDALCO, JSWSTEEL, INDIGO, TATASTEEL, JINDALSTEL, WIPRO, CIPLA, VEDL, NESTLEIND
  9. 2025-03-14 Metals & Mining +14pp added HINDALCO, SHRIRAMFIN, TATASTEEL, JINDALSTEL, CIPLA, VEDL, BEL, NESTLEIND . removed ETERNAL, TORNTPHARM, SUNPHARMA, DRREDDY, TCS, TITAN, CGPOWER
  10. 2024-08-30 Diversified +10pp added TVSMOTOR, ICICIGI, SUNPHARMA, TECHM, SBILIFE . removed LODHA, ADANIPOWER, INDIGO, JINDALSTEL, BHARTIARTL, PFC
  11. 2023-09-01 Diversified -11pp added ADANIPOWER, SOLARINDS, JSWENERGY, NTPC, VBL . removed MAXHEALTH, HDFCLIFE, DLF, ICICIGI, NAUKRI
  12. 2023-05-12 Diversified +12pp added IRFC, CHOLAFIN, ETERNAL, INDIGO, DLF, NESTLEIND, INDHOTEL . removed ADANIPORTS, NTPC, MAXHEALTH, CANBK
  13. 2023-04-14 Diversified -11pp added ADANIGREEN, BAJAJ-AUTO, DRREDDY, GODREJCP, ONGC . removed IRFC, BRITANNIA, TVSMOTOR, M&M, CHOLAFIN, HDFCBANK, HCLTECH
  14. 2023-03-17 Metals & Mining -11pp added ADANIPOWER, GAIL, HAL, ABB, ADANIPORTS, NTPC, MAXHEALTH . removed SOLARINDS, HINDZINC, AXISBANK, ADANIENT, IOC, TATASTEEL, HINDALCO
  15. 2023-01-20 Metals & Mining +12pp added HINDZINC, IOC, TATASTEEL, ZYDUSLIFE, HINDALCO . removed ADANIPOWER, HCLTECH, BEL, ITC, ABB
  16. 2021-12-24 Diversified +10pp added APOLLOHOSP, BEL, WIPRO, LT . removed BANKBARODA, SBIN, HINDALCO, NTPC, ADANIPOWER
+0 added -11 removed 20 retained 20 holdings
OutUNIONBANKCOALINDIACUMMINSINDONGCSBINDMARTJINDALSTELTORNTPHARMTITANPOWERGRIDTVSMOTOR
+9 added -4 removed 22 retained 31 holdings
InADANIGREENADANIENTVBLSIEMENSNESTLEINDADANIPORTSENRINLODHAHAL
OutMOTHERSONCANBKBELBANKBARODA
+6 added -4 removed 20 retained 26 holdings
InADANIPOWERUNIONBANKCUMMINSINDDMARTADANIENSOLTATAPOWER
OutJSWSTEELIOCAXISBANKBPCL
+2 added -6 removed 22 retained 24 holdings
InCGPOWERPOWERGRID
OutPNBSBILIFEM&MLTGODREJCPADANIPOWER
+7 added -5 removed 21 retained 28 holdings
InJINDALSTELPFCONGCJSWSTEELNTPCBELAXISBANK
OutASIANPAINTADANIENSOLHCLTECHRELIANCETECHM
+4 added -3 removed 22 retained 26 holdings
InCOALINDIATORNTPHARMTATASTEELGODREJCP
OutBELBHARTIARTLJSWSTEEL
+4 added -6 removed 21 retained 25 holdings
InMOTHERSONHCLTECHRELIANCETECHM
OutETERNALBAJFINANCEHYUNDAIAXISBANKTATASTEELCHOLAFIN
+7 added -7 removed 20 retained 27 holdings
InBPCLASIANPAINTSBILIFEVEDLLTBHARTIARTLTITAN
OutCGPOWERDMARTMOTHERSONADANIGREENJINDALSTELADANIENTADANIPORTS
+7 added -9 removed 20 retained 27 holdings
InSHRIRAMFINHINDZINCBANKBARODAAXISBANKSBINPNBIOC
OutJIOFINHINDUNILVRTORNTPHARMSBILIFEHDFCLIFEASIANPAINTBHARTIARTLZYDUSLIFETITAN
+7 added -8 removed 22 retained 29 holdings
InCGPOWERMOTHERSONJSWSTEELADANIENSOLADANIGREENADANIENTCHOLAFIN
OutMAXHEALTHBPCLAMBUJACEMDLFHDFCBANKICICIBANKIOCPNB
+9 added -6 removed 21 retained 30 holdings
InHYUNDAIDMARTHINDUNILVRHINDALCOASIANPAINTJINDALSTELTATASTEELZYDUSLIFETITAN
OutMAZDOCKLICIRELIANCEICICIGIGRASIMLODHA
+5 added -3 removed 22 retained 27 holdings
InTORNTPHARMAMBUJACEMM&MIOCADANIPOWER
OutIRFCMOTHERSONTATASTEEL
+4 added -9 removed 21 retained 25 holdings
InMAXHEALTHICICIGIGRASIMETERNAL
OutHALTATACONSUMADANIENSOLUNITDSPRM&MGODREJCPBAJAJFINSVCHOLAFINAXISBANK
+10 added -6 removed 20 retained 30 holdings
InCANBKDLFLICIADANIPORTSLODHAJIOFINIRFCPNBMOTHERSONTATASTEEL
OutSHRIRAMFINDMARTBANKBARODAMAXHEALTHNTPCINDHOTEL
+5 added -9 removed 21 retained 26 holdings
InSBILIFETVSMOTORM&MRELIANCEAXISBANK
OutHINDALCOJSWSTEELINDIGOTATASTEELJINDALSTELWIPROCIPLAVEDLNESTLEIND
+9 added -7 removed 21 retained 30 holdings
InHALGODREJCPHDFCLIFEDMARTADANIENSOLBANKBARODANTPCBPCLUNITDSPR
OutTVSMOTORTECHMEICHERMOTM&MINFYNAUKRIHCLTECH
+8 added -7 removed 20 retained 28 holdings
InHINDALCOSHRIRAMFINTATASTEELJINDALSTELCIPLAVEDLBELNESTLEIND
OutETERNALTORNTPHARMSUNPHARMADRREDDYTCSTITANCGPOWER
+6 added -4 removed 21 retained 27 holdings
InBAJAJFINSVTATACONSUMTVSMOTORCHOLAFINEICHERMOTJSWSTEEL
OutLODHAVEDLBELDLF
+4 added -4 removed 21 retained 25 holdings
InDRREDDYBAJFINANCETCSTITAN
OutJSWENERGYMOTHERSONJSWSTEELHDFCLIFE
+2 added -4 removed 23 retained 25 holdings
InLODHADLF
OutSHRIRAMFINNTPCICICIGITVSMOTOR
+5 added -4 removed 22 retained 27 holdings
InHDFCBANKICICIBANKJSWSTEELBELWIPRO
OutCHOLAFINBAJAJFINSVHAVELLSSBILIFE
+3 added -5 removed 23 retained 26 holdings
InHCLTECHNTPCHDFCLIFE
OutBELZYDUSLIFEONGCHALIRFC
+7 added -5 removed 21 retained 28 holdings
InBHARTIARTLCHOLAFININDHOTELINDIGOMAXHEALTHBAJAJFINSVHAVELLS
OutHINDZINCLICIRECLTDGAILHDFCLIFE
+5 added -6 removed 21 retained 26 holdings
InTVSMOTORICICIGISUNPHARMATECHMSBILIFE
OutLODHAADANIPOWERINDIGOJINDALSTELBHARTIARTLPFC
+5 added -2 removed 22 retained 27 holdings
InONGCLICIINFYTORNTPHARMHDFCLIFE
OutTRENTHAVELLS
+2 added -6 removed 22 retained 24 holdings
InSHRIRAMFINNAUKRI
OutPNBTATAPOWERCANBKBPCLEICHERMOTIOC
+7 added -6 removed 21 retained 28 holdings
InMAZDOCKM&MMOTHERSONLODHAJINDALSTELHAVELLSPFC
OutADANIGREENDLFADANIPORTSDMARTINDHOTELCOALINDIA
+6 added -4 removed 21 retained 27 holdings
InVEDLHINDZINCGAILCGPOWERBHARTIARTLEICHERMOT
OutPFCLICIVBLONGC
+5 added -1 removed 20 retained 25 holdings
InJSWENERGYHALBELDMARTINDIGO
OutMAXHEALTH
+1 added -7 removed 20 retained 21 holdings
InINDHOTEL
OutLODHAHALBELMAZDOCKGAILTATACONSUMNTPC
+7 added -3 removed 20 retained 27 holdings
InBPCLCOALINDIACANBKONGCMAXHEALTHZYDUSLIFEVBL
OutADANIENSOLADANIENTTVSMOTOR
+2 added -6 removed 21 retained 23 holdings
InGAILTATACONSUM
OutCOALINDIAVBLJSWENERGYBPCLTORNTPHARMLT
+6 added -3 removed 21 retained 27 holdings
InADANIGREENADANIENSOLADANIPORTSTATAPOWERADANIENTLICI
OutCHOLAFINSHRIRAMFINCANBK
+4 added -2 removed 20 retained 24 holdings
InHALBPCLTORNTPHARMIOC
OutCGPOWERTATAPOWER
+1 added -6 removed 21 retained 22 holdings
InDLF
OutSOLARINDSCIPLAZYDUSLIFEHALMOTHERSONDRREDDY
+4 added -4 removed 23 retained 27 holdings
InCOALINDIATVSMOTORCANBKTATAPOWER
OutABBINDIGOJINDALSTELTORNTPHARM
+5 added -5 removed 22 retained 27 holdings
InADANIPOWERSOLARINDSJSWENERGYNTPCVBL
OutMAXHEALTHHDFCLIFEDLFICICIGINAUKRI
+7 added -7 removed 20 retained 27 holdings
InMOTHERSONIRFCCIPLADRREDDYJINDALSTELPNBLT
OutADANIENTADANIPOWERVBLTVSMOTORINDHOTELITCBAJAJ-AUTO
+6 added -4 removed 21 retained 27 holdings
InSHRIRAMFINHDFCLIFEBELICICIGITORNTPHARMNAUKRI
OutIRFCSIEMENSNESTLEINDADANIGREEN
+5 added -8 removed 20 retained 25 holdings
InADANIENTLODHATVSMOTORMAXHEALTHTRENT
OutJINDALSTELGAILBANKBARODALTDRREDDYGODREJCPONGCPNB
+7 added -4 removed 21 retained 28 holdings
InIRFCCHOLAFINETERNALINDIGODLFNESTLEINDINDHOTEL
OutADANIPORTSNTPCMAXHEALTHCANBK
+5 added -7 removed 20 retained 25 holdings
InADANIGREENBAJAJ-AUTODRREDDYGODREJCPONGC
OutIRFCBRITANNIATVSMOTORM&MCHOLAFINHDFCBANKHCLTECH
+7 added -7 removed 20 retained 27 holdings
InADANIPOWERGAILHALABBADANIPORTSNTPCMAXHEALTH
OutSOLARINDSHINDZINCAXISBANKADANIENTIOCTATASTEELHINDALCO
+5 added -3 removed 22 retained 27 holdings
InITCCHOLAFINSIEMENSHDFCBANKHCLTECH
OutAMBUJACEMHALINDHOTEL
+5 added -5 removed 20 retained 25 holdings
InHINDZINCIOCTATASTEELZYDUSLIFEHINDALCO
OutADANIPOWERHCLTECHBELITCABB
+4 added -4 removed 21 retained 25 holdings
InBRITANNIALTRECLTDM&M
OutCOALINDIAADANIENSOLEICHERMOTBAJAJFINSV
+5 added -3 removed 20 retained 25 holdings
InIRFCJINDALSTELPNBHCLTECHPFC
OutM&MTRENTPIDILITIND
+2 added -2 removed 21 retained 23 holdings
InAXISBANKCANBK
OutJSWENERGYCHOLAFIN
+1 added -5 removed 22 retained 23 holdings
InAMBUJACEM
OutBAJFINANCEASIANPAINTADANIGREENHINDUNILVRSHRIRAMFIN
+7 added -4 removed 20 retained 27 holdings
InJSWENERGYMAZDOCKCOALINDIASOLARINDSPIDILITINDCHOLAFINTRENT
OutSIEMENSBRITANNIATORNTPHARMNESTLEIND
+4 added -7 removed 20 retained 24 holdings
InBAJAJFINSVBAJFINANCEASIANPAINTBANKBARODA
OutETERNALCOALINDIARELIANCELODHASOLARINDSNTPCPOWERGRID
+6 added -6 removed 21 retained 27 holdings
InEICHERMOTSHRIRAMFINSIEMENSBRITANNIAHINDUNILVRNESTLEIND
OutAMBUJACEMJINDALSTELCHOLAFINTATAPOWERBANKBARODAMAZDOCK
+7 added -6 removed 20 retained 27 holdings
InTVSMOTORETERNALBELRELIANCELODHAABBTORNTPHARM
OutVEDLTRENTHINDALCOCANBKJSWSTEELADANIPORTS
+5 added -5 removed 21 retained 26 holdings
InVBLNTPCAMBUJACEMM&MMAZDOCK
OutONGCTITANJSWENERGYAPOLLOHOSPCIPLA
+5 added -6 removed 21 retained 26 holdings
InADANIENTHALJSWSTEELITCADANIPORTS
OutLODHAAXISBANKABBSBINSUNPHARMAMAXHEALTH
+6 added -5 removed 21 retained 27 holdings
InJINDALSTELCOALINDIAADANIPOWERPOWERGRIDAPOLLOHOSPCIPLA
OutTECHMPIDILITINDADANIENTBAJAJFINSVICICIBANK
+5 added -6 removed 21 retained 26 holdings
InLODHAVEDLAXISBANKSBINSUNPHARMA
OutDMARTAPOLLOHOSPBELWIPRODLFLT
+5 added -3 removed 22 retained 27 holdings
InCHOLAFINBANKBARODAPIDILITINDICICIBANKHINDALCO
OutTVSMOTORBHARTIARTLBAJAJHLDNG
+4 added -5 removed 21 retained 25 holdings
InAPOLLOHOSPBELWIPROLT
OutBANKBARODASBINHINDALCONTPCADANIPOWER
+5 added -5 removed 21 retained 26 holdings
InTVSMOTORADANIGREENBHARTIARTLABBTRENT
OutAPOLLOHOSPNAUKRIHCLTECHBAJFINANCECOALINDIA
+5 added -8 removed 21 retained 26 holdings
InCANBKBANKBARODASBINNTPCADANIPOWER
OutTATASTEELHALWIPROGODREJCPAMBUJACEMTATACONSUMHAVELLSVEDL
+7 added -4 removed 22 retained 29 holdings
InINDHOTELNAUKRIHCLTECHTITANBAJAJHLDNGCOALINDIAONGC
OutJSWSTEELBELADANIPOWERDIVISLAB
+4 added -4 removed 22 retained 26 holdings
InTECHMHALBAJFINANCEDMART
OutABBPIDILITINDSBINZYDUSLIFE
+5 added -4 removed 21 retained 26 holdings
InAMBUJACEMDIVISLABDLFHAVELLSGODREJCP
OutADANIPORTSMOTHERSONJINDALSTELCHOLAFIN
+3 added -1 removed 22 retained 25 holdings
InBELPIDILITINDTATACONSUM
OutSHRIRAMFIN
+3 added -0 removed 20 retained 23 holdings
InSOLARINDSABBMAXHEALTH
Initial portfolio 20 holdings
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