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Sectoral / Thematic · Axis Mutual Fund · AMFI code 151366Axis Business Cycles Fund
Disclosed for 7 months, Jan 2026 to Sep 2026.
Portfolio value
₹2,145 Cr
down ₹14 L vs Jan 2026
- Stocks held
- 74
- down 12 vs Jan 2026
- Top 10 weight
- 33.3%
- of the portfolio in its ten largest
- Cash & debt
- 1.8%
- cash, money market and debt
- Moves this month
- 3 in · 15 out
- added to 10, trimmed 25
Axis Business Cycles Fund is an active equity fund in the Sectoral / Thematic category from Axis Mutual Fund. In February 2026 it disclosed 74 stocks worth ₹2,145 Cr, down ₹14 L from Jan 2026. Its largest positions were ICICI Bank Limited (7.3%), Larsen & Toubro Limited (3.7%), HDFC Bank Limited (3.6%); the ten largest together made up 33.3% of the portfolio, and Banks was the biggest sector at 23.4% of its equity. Cash and debt stood at 1.8%. Compared with Jan 2026 the fund entered 3 new stocks and exited 15.
Against 226 other Sectoral / Thematic funds
Concentration
12%
Top-10 weight is higher than 12% of peers
Breadth
94%
Holds more stocks than 94% of peers
Cash
28%
Holds more cash than 28% of peers
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.
- Weight
- 7.32%
- Δ weight
- up 0.13 pts
- Value
- ₹157 Cr
- Δ value
- up ₹2.7 Cr
- Status
- Added
- Weight
- 3.65%
- Δ weight
- up 0.30 pts
- Value
- ₹78.3 Cr
- Δ value
- up ₹6.3 Cr
- Status
- Added
- Weight
- 3.58%
- Δ weight
- down 0.32 pts
- Value
- ₹76.7 Cr
- Δ value
- down ₹6.9 Cr
- Status
- Trimmed
- Weight
- 3.26%
- Δ weight
- up 0.34 pts
- Value
- ₹69.9 Cr
- Δ value
- up ₹7.2 Cr
- Status
- Added
- Weight
- 2.98%
- Δ weight
- up 1.38 pts
- Value
- ₹64 Cr
- Δ value
- up ₹29.7 Cr
- Status
- Added
- Weight
- 2.91%
- Δ weight
- down <0.01 pts
- Value
- ₹62.3 Cr
- Δ value
- down ₹8 L
- Status
- Held
- Weight
- 2.72%
- Δ weight
- up 0.05 pts
- Value
- ₹58.3 Cr
- Δ value
- up ₹1 Cr
- Status
- Added
- Weight
- 2.37%
- Δ weight
- up 1.67 pts
- Value
- ₹50.9 Cr
- Δ value
- up ₹35.9 Cr
- Status
- Added
- Weight
- 2.33%
- Δ weight
- up 0.20 pts
- Value
- ₹50 Cr
- Δ value
- up ₹4.2 Cr
- Status
- Added
- Weight
- 2.16%
- Δ weight
- up 0.35 pts
- Value
- ₹46.2 Cr
- Δ value
- up ₹7.4 Cr
- Status
- Added
- Weight
- 2.05%
- Δ weight
- down 1.61 pts
- Value
- ₹44 Cr
- Δ value
- down ₹34.6 Cr
- Status
- Trimmed
- Weight
- 1.95%
- Δ weight
- down 0.41 pts
- Value
- ₹41.9 Cr
- Δ value
- down ₹8.7 Cr
- Status
- Trimmed
- Weight
- 1.86%
- Δ weight
- up 0.41 pts
- Value
- ₹39.8 Cr
- Δ value
- up ₹8.7 Cr
- Status
- Added
- Weight
- 1.84%
- Δ weight
- down 0.03 pts
- Value
- ₹39.6 Cr
- Δ value
- down ₹59 L
- Status
- Trimmed
- Weight
- 1.73%
- Δ weight
- up 0.11 pts
- Value
- ₹37.1 Cr
- Δ value
- up ₹2.4 Cr
- Status
- Added
- Weight
- 1.70%
- Δ weight
- up 0.10 pts
- Value
- ₹36.5 Cr
- Δ value
- up ₹2.1 Cr
- Status
- Added
- Weight
- 1.61%
- Δ weight
- down 0.07 pts
- Value
- ₹34.6 Cr
- Δ value
- down ₹1.6 Cr
- Status
- Trimmed
- Weight
- 1.60%
- Δ weight
- up 0.26 pts
- Value
- ₹34.3 Cr
- Δ value
- up ₹5.5 Cr
- Status
- Added
- Shriram Transport Finance Company LimitedShriram Finance Limited · history in this fund
- Weight
- 1.55%
- Δ weight
- down 1.07 pts
- Value
- ₹33.3 Cr
- Δ value
- down ₹23 Cr
- Status
- Trimmed
- Weight
- 1.53%
- Δ weight
- down 0.01 pts
- Value
- ₹32.9 Cr
- Δ value
- down ₹22 L
- Status
- Trimmed
- Weight
- 1.42%
- Δ weight
- down 0.05 pts
- Value
- ₹30.5 Cr
- Δ value
- down ₹1 Cr
- Status
- Trimmed
- Weight
- 1.39%
- Δ weight
- up 0.02 pts
- Value
- ₹29.8 Cr
- Δ value
- up ₹51 L
- Status
- Added
- Weight
- 1.39%
- Δ weight
- down 0.27 pts
- Value
- ₹29.7 Cr
- Δ value
- down ₹5.8 Cr
- Status
- Trimmed
- Weight
- 1.34%
- Δ weight
- down 0.09 pts
- Value
- ₹28.6 Cr
- Δ value
- down ₹2 Cr
- Status
- Trimmed
- Weight
- 1.33%
- Δ weight
- up 0.38 pts
- Value
- ₹28.5 Cr
- Δ value
- up ₹8.2 Cr
- Status
- Added
- Cash, TREPS & receivables
- Weight
- 1.33%
- Δ weight
- up 0.21 pts
- Value
- ₹28.5 Cr
- Δ value
- up ₹4.4 Cr
- Status
- Added
- Weight
- 1.32%
- Δ weight
- up 0.07 pts
- Value
- ₹28.3 Cr
- Δ value
- up ₹1.6 Cr
- Status
- Added
- Weight
- 1.32%
- Δ weight
- up 0.18 pts
- Value
- ₹28.2 Cr
- Δ value
- up ₹3.8 Cr
- Status
- Added
- Weight
- 1.21%
- Δ weight
- down 0.02 pts
- Value
- ₹25.9 Cr
- Δ value
- down ₹37 L
- Status
- Trimmed
- Weight
- 1.21%
- Δ weight
- up 0.11 pts
- Value
- ₹25.9 Cr
- Δ value
- up ₹2.3 Cr
- Status
- Added
- Weight
- 1.20%
- Δ weight
- up 0.15 pts
- Value
- ₹25.8 Cr
- Δ value
- up ₹3.2 Cr
- Status
- Added
- Weight
- 1.17%
- Δ weight
- up 0.03 pts
- Value
- ₹25.1 Cr
- Δ value
- up ₹61 L
- Status
- Added
- Weight
- 1.16%
- Δ weight
- down 0.21 pts
- Value
- ₹24.8 Cr
- Δ value
- down ₹4.5 Cr
- Status
- Trimmed
- Weight
- 1.13%
- Δ weight
- up <0.01 pts
- Value
- ₹24.3 Cr
- Δ value
- up ₹4 L
- Status
- Held
- Weight
- 1.13%
- Δ weight
- up 0.16 pts
- Value
- ₹24.2 Cr
- Δ value
- up ₹3.4 Cr
- Status
- Added
- Weight
- 1.06%
- Δ weight
- down 0.07 pts
- Value
- ₹22.8 Cr
- Δ value
- down ₹1.5 Cr
- Status
- Trimmed
- Weight
- 1.05%
- Δ weight
- up 0.09 pts
- Value
- ₹22.6 Cr
- Δ value
- up ₹1.9 Cr
- Status
- Added
- Weight
- 1.04%
- Δ weight
- up 0.02 pts
- Value
- ₹22.3 Cr
- Δ value
- up ₹46 L
- Status
- Added
- Weight
- 1.02%
- Δ weight
- down 0.18 pts
- Value
- ₹21.9 Cr
- Δ value
- down ₹3.9 Cr
- Status
- Trimmed
- Weight
- 1.02%
- Δ weight
- up 1.02 pts
- Value
- ₹21.9 Cr
- Δ value
- up ₹21.9 Cr
- Status
- New
- Weight
- 1.01%
- Δ weight
- up 0.07 pts
- Value
- ₹21.7 Cr
- Δ value
- up ₹1.5 Cr
- Status
- Added
- Weight
- 0.98%
- Δ weight
- up 0.18 pts
- Value
- ₹21 Cr
- Δ value
- up ₹3.9 Cr
- Status
- Added
- Weight
- 0.95%
- Δ weight
- up 0.02 pts
- Value
- ₹20.3 Cr
- Δ value
- up ₹48 L
- Status
- Added
- Weight
- 0.94%
- Δ weight
- up 0.94 pts
- Value
- ₹20.2 Cr
- Δ value
- up ₹20.2 Cr
- Status
- New
- Weight
- 0.94%
- Δ weight
- down 0.02 pts
- Value
- ₹20.2 Cr
- Δ value
- down ₹39 L
- Status
- Trimmed
- Weight
- 0.94%
- Δ weight
- up 0.06 pts
- Value
- ₹20.1 Cr
- Δ value
- up ₹1.3 Cr
- Status
- Added
- Weight
- 0.88%
- Δ weight
- down 0.04 pts
- Value
- ₹18.9 Cr
- Δ value
- down ₹83 L
- Status
- Trimmed
- Weight
- 0.86%
- Δ weight
- down 0.34 pts
- Value
- ₹18.4 Cr
- Δ value
- down ₹7.3 Cr
- Status
- Trimmed
- Weight
- 0.83%
- Δ weight
- up 0.08 pts
- Value
- ₹17.9 Cr
- Δ value
- up ₹1.8 Cr
- Status
- Added
- Weight
- 0.83%
- Δ weight
- up 0.02 pts
- Value
- ₹17.8 Cr
- Δ value
- up ₹52 L
- Status
- Added
- Weight
- 0.82%
- Δ weight
- up 0.32 pts
- Value
- ₹17.7 Cr
- Δ value
- up ₹6.9 Cr
- Status
- Added
- Weight
- 0.81%
- Δ weight
- up 0.33 pts
- Value
- ₹17.4 Cr
- Δ value
- up ₹7.1 Cr
- Status
- Added
- Weight
- 0.81%
- Δ weight
- down 0.01 pts
- Value
- ₹17.3 Cr
- Δ value
- down ₹15 L
- Status
- Trimmed
- Weight
- 0.80%
- Δ weight
- down 0.07 pts
- Value
- ₹17.2 Cr
- Δ value
- down ₹1.4 Cr
- Status
- Trimmed
- Weight
- 0.80%
- Δ weight
- down 0.17 pts
- Value
- ₹17.1 Cr
- Δ value
- down ₹3.6 Cr
- Status
- Trimmed
- Weight
- 0.79%
- Δ weight
- up 0.21 pts
- Value
- ₹17 Cr
- Δ value
- up ₹4.6 Cr
- Status
- Added
- Weight
- 0.77%
- Δ weight
- up 0.06 pts
- Value
- ₹16.5 Cr
- Δ value
- up ₹1.3 Cr
- Status
- Added
- Weight
- 0.76%
- Δ weight
- down 0.13 pts
- Value
- ₹16.3 Cr
- Δ value
- down ₹2.8 Cr
- Status
- Trimmed
- Weight
- 0.70%
- Δ weight
- up 0.66 pts
- Value
- ₹15.1 Cr
- Δ value
- up ₹14.2 Cr
- Status
- Added
- Weight
- 0.68%
- Δ weight
- down 0.06 pts
- Value
- ₹14.6 Cr
- Δ value
- down ₹1.2 Cr
- Status
- Trimmed
- Weight
- 0.64%
- Δ weight
- up 0.03 pts
- Value
- ₹13.8 Cr
- Δ value
- up ₹63 L
- Status
- Added
- Weight
- 0.62%
- Δ weight
- up 0.11 pts
- Value
- ₹13.2 Cr
- Δ value
- up ₹2.4 Cr
- Status
- Added
- Weight
- 0.61%
- Δ weight
- up 0.02 pts
- Value
- ₹13.2 Cr
- Δ value
- up ₹42 L
- Status
- Added
- Weight
- 0.61%
- Δ weight
- up 0.08 pts
- Value
- ₹13.1 Cr
- Δ value
- up ₹1.6 Cr
- Status
- Added
- Weight
- 0.61%
- Δ weight
- down 0.07 pts
- Value
- ₹13 Cr
- Δ value
- down ₹1.4 Cr
- Status
- Trimmed
- Weight
- 0.60%
- Δ weight
- up 0.03 pts
- Value
- ₹13 Cr
- Δ value
- up ₹72 L
- Status
- Added
- Weight
- 0.58%
- Δ weight
- up 0.04 pts
- Value
- ₹12.4 Cr
- Δ value
- up ₹84 L
- Status
- Added
- Weight
- 0.56%
- Δ weight
- up 0.01 pts
- Value
- ₹12.1 Cr
- Δ value
- up ₹28 L
- Status
- Added
- Weight
- 0.55%
- Δ weight
- up 0.04 pts
- Value
- ₹11.8 Cr
- Δ value
- up ₹77 L
- Status
- Added
- Weight
- 0.55%
- Δ weight
- down 0.11 pts
- Value
- ₹11.7 Cr
- Δ value
- down ₹2.3 Cr
- Status
- Trimmed
- Weight
- 0.50%
- Δ weight
- up 0.50 pts
- Value
- ₹10.7 Cr
- Δ value
- up ₹10.7 Cr
- Status
- New
- 91 Days Tbill (MDDebt
- Weight
- 0.47%
- Δ weight
- up <0.01 pts
- Value
- ₹10 Cr
- Δ value
- up ₹4 L
- Status
- Held
- Weight
- 0.43%
- Δ weight
- down 0.02 pts
- Value
- ₹9.3 Cr
- Δ value
- down ₹38 L
- Status
- Trimmed
- Weight
- 0.35%
- Δ weight
- up 0.01 pts
- Value
- ₹7.5 Cr
- Δ value
- up ₹14 L
- Status
- Added
- Weight
- 0.32%
- Δ weight
- up 0.01 pts
- Value
- ₹7 Cr
- Δ value
- up ₹13 L
- Status
- Added
- Weight
- 0.14%
- Δ weight
- up 0.01 pts
- Value
- ₹3.1 Cr
- Δ value
- up ₹14 L
- Status
- Added
- TVS Motor Company Ltd.Other
- Weight
- 0.01%
- Δ weight
- up <0.01 pts
- Value
- ₹30 L
- Δ value
- up ₹0 L
- Status
- Held
What changed, Jan 2026 to Feb 2026
New New positions (3)
- ITC Limited1.0% · ₹21.9 Cr
- Aarti Industries Limited0.9% · ₹20.2 Cr
- Healthcare Global Enterprises Limited0.5% · ₹10.7 Cr
Exited Exited (15)
- Vedanta Limitedwas 1.1% · ₹24.2 Cr
- Tech Mahindra Limitedwas 0.9% · ₹18.7 Cr
- REC Limitedwas 0.8% · ₹17.4 Cr
- TVS Motor Company Limitedwas 0.7% · ₹14.4 Cr
- National Securities Depository Limitedwas 0.5% · ₹11.7 Cr
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 Banks (+2.0 pts) and Auto Components (+1.3 pts), and fell most in Finance (−3.0 pts) and IT - Software (−2.9 pts).
- Banks21.4% → 23.4%+2.0 pts
- Auto Components3.4% → 4.7%+1.3 pts
- Petroleum Products1.9% → 3.0%+1.1 pts
- Diversified FMCG1.9% → 2.9%+1.0 pts
- Chemicals & Petrochemicals4.2% → 5.1%+0.9 pts
- Electrical Equipment3.6% → 4.3%+0.8 pts
- Finance7.9% → 4.9%−3.0 pts
- IT - Software5.8% → 3.0%−2.9 pts
- Diversified Metals1.1% → 0.0%exited−1.1 pts
- Capital Markets2.2% → 1.6%−0.6 pts
- Consumer Durables0.5% → 0.0%exited−0.5 pts
- Automobiles4.1% → 3.6%−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 | Jan 2026 | Feb 2026 |
|---|---|---|
| Banks | 21.4% | 23.4% |
| Chemicals & Petrochemicals | 4.2% | 5.1% |
| Pharmaceuticals & Biotechnology | 4.6% | 5.0% |
| Finance | 7.9% | 4.9% |
| Auto Components | 3.4% | 4.7% |
| Cement & Cement Products | 4.5% | 4.5% |
| Electrical Equipment | 3.6% | 4.3% |
| Industrial Products | 4.2% | 4.2% |
| Construction | 3.6% | 3.7% |
| Automobiles | 4.1% | 3.6% |
Allocation in Feb 2026change vs Jan 2026
- Banks (8)23.4%▲ 2.0 pts
- Chemicals & Petrochemicals (5)5.1%▲ 0.9 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.
Cash & debt, Feb 2026
1.8%
▲ 0.2 pts vs Jan 2026
- Cash alone
- 1.3%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 1.6% – 1.8%
- lowest to highest · record 1.8% in Feb 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.