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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
₹1,866 Cr
down ₹279 Cr vs Feb 2026
- Stocks held
- 76
- up 2 vs Feb 2026
- Top 10 weight
- 29.2%
- of the portfolio in its ten largest
- Cash & debt
- 4.9%
- cash, money market and debt
- Moves this month
- 9 in · 7 out
- added to 10, trimmed 56
Axis Business Cycles Fund is an active equity fund in the Sectoral / Thematic category from Axis Mutual Fund. In March 2026 it disclosed 76 stocks worth ₹1,866 Cr, down ₹279 Cr from Feb 2026. Its largest positions were ICICI Bank Limited (4.1%), Larsen & Toubro Limited (3.6%), Axis Bank Limited (3.5%); the ten largest together made up 29.2% of the portfolio, and Banks was the biggest sector at 17.8% of its equity. Cash and debt stood at 4.9%. Compared with Feb 2026 the fund entered 9 new stocks and exited 7.
Against 226 other Sectoral / Thematic funds
Concentration
6%
Top-10 weight is higher than 6% of peers
Breadth
95%
Holds more stocks than 95% of peers
Cash
71%
Holds more cash than 71% of peers
Holdings in March 2026
Download CSVEvery line the fund disclosed, with the change against Feb 2026. Click a column to sort; click a company to see every fund that owns it.
- Cash, TREPS & receivables
- Weight
- 4.33%
- Δ weight
- up 3.00 pts
- Value
- ₹80.8 Cr
- Δ value
- up ₹52.3 Cr
- Status
- Added
- Weight
- 4.09%
- Δ weight
- down 3.23 pts
- Value
- ₹76.3 Cr
- Δ value
- down ₹80.7 Cr
- Status
- Trimmed
- Weight
- 3.57%
- Δ weight
- down 0.08 pts
- Value
- ₹66.6 Cr
- Δ value
- down ₹11.8 Cr
- Status
- Trimmed
- Weight
- 3.52%
- Δ weight
- up 1.14 pts
- Value
- ₹65.7 Cr
- Δ value
- up ₹14.7 Cr
- Status
- Added
- Weight
- 2.83%
- Δ weight
- down 0.07 pts
- Value
- ₹52.8 Cr
- Δ value
- down ₹9.5 Cr
- Status
- Trimmed
- Weight
- 2.82%
- Δ weight
- down 0.75 pts
- Value
- ₹52.7 Cr
- Δ value
- down ₹24 Cr
- Status
- Trimmed
- Weight
- 2.66%
- Δ weight
- down 0.06 pts
- Value
- ₹49.7 Cr
- Δ value
- down ₹8.7 Cr
- Status
- Trimmed
- Weight
- 2.55%
- Δ weight
- down 0.44 pts
- Value
- ₹47.5 Cr
- Δ value
- down ₹16.5 Cr
- Status
- Trimmed
- Weight
- 2.47%
- Δ weight
- up 1.46 pts
- Value
- ₹46.1 Cr
- Δ value
- up ₹24.4 Cr
- Status
- Added
- Weight
- 2.33%
- Δ weight
- down 0.00 pts
- Value
- ₹43.5 Cr
- Δ value
- down ₹6.5 Cr
- Status
- Trimmed
- Weight
- 2.32%
- Δ weight
- up 0.37 pts
- Value
- ₹43.4 Cr
- Δ value
- up ₹1.5 Cr
- Status
- Added
- Weight
- 2.19%
- Δ weight
- up 0.04 pts
- Value
- ₹40.9 Cr
- Δ value
- down ₹5.3 Cr
- Status
- Trimmed
- Weight
- 2.08%
- Δ weight
- up 0.46 pts
- Value
- ₹38.7 Cr
- Δ value
- up ₹4.2 Cr
- Status
- Added
- Weight
- 2.02%
- Δ weight
- up 0.29 pts
- Value
- ₹37.6 Cr
- Δ value
- up ₹50 L
- Status
- Added
- Weight
- 1.86%
- Δ weight
- up 0.02 pts
- Value
- ₹34.8 Cr
- Δ value
- down ₹4.8 Cr
- Status
- Trimmed
- Weight
- 1.84%
- Δ weight
- up 0.71 pts
- Value
- ₹34.3 Cr
- Δ value
- up ₹10.2 Cr
- Status
- Added
- Weight
- 1.69%
- Δ weight
- up 0.09 pts
- Value
- ₹31.5 Cr
- Δ value
- down ₹2.8 Cr
- Status
- Trimmed
- Weight
- 1.67%
- Δ weight
- down 0.19 pts
- Value
- ₹31.1 Cr
- Δ value
- down ₹8.7 Cr
- Status
- Trimmed
- Weight
- 1.62%
- Δ weight
- up 0.20 pts
- Value
- ₹30.2 Cr
- Δ value
- down ₹27 L
- Status
- Trimmed
- Weight
- 1.53%
- Δ weight
- up 1.53 pts
- Value
- ₹28.6 Cr
- Δ value
- up ₹28.6 Cr
- Status
- New
- Weight
- 1.47%
- Δ weight
- down 0.06 pts
- Value
- ₹27.4 Cr
- Δ value
- down ₹5.4 Cr
- Status
- Trimmed
- Shriram Transport Finance Company LimitedShriram Finance Limited · history in this fund
- Weight
- 1.44%
- Δ weight
- down 0.11 pts
- Value
- ₹26.9 Cr
- Δ value
- down ₹6.4 Cr
- Status
- Trimmed
- Weight
- 1.41%
- Δ weight
- up 0.02 pts
- Value
- ₹26.2 Cr
- Δ value
- down ₹3.6 Cr
- Status
- Trimmed
- Weight
- 1.37%
- Δ weight
- up 0.04 pts
- Value
- ₹25.6 Cr
- Δ value
- down ₹3 Cr
- Status
- Trimmed
- Weight
- 1.37%
- Δ weight
- down 0.02 pts
- Value
- ₹25.6 Cr
- Δ value
- down ₹4.2 Cr
- Status
- Trimmed
- Weight
- 1.37%
- Δ weight
- up 0.05 pts
- Value
- ₹25.5 Cr
- Δ value
- down ₹2.7 Cr
- Status
- Trimmed
- Weight
- 1.35%
- Δ weight
- up 0.03 pts
- Value
- ₹25.2 Cr
- Δ value
- down ₹3 Cr
- Status
- Trimmed
- Weight
- 1.35%
- Δ weight
- up 0.40 pts
- Value
- ₹25.2 Cr
- Δ value
- up ₹4.9 Cr
- Status
- Added
- Weight
- 1.31%
- Δ weight
- up 1.31 pts
- Value
- ₹24.4 Cr
- Δ value
- up ₹24.4 Cr
- Status
- New
- Weight
- 1.29%
- Δ weight
- up 0.12 pts
- Value
- ₹24.2 Cr
- Δ value
- down ₹97 L
- Status
- Trimmed
- Weight
- 1.22%
- Δ weight
- up 0.02 pts
- Value
- ₹22.8 Cr
- Δ value
- down ₹3.1 Cr
- Status
- Trimmed
- Weight
- 1.18%
- Δ weight
- up 0.13 pts
- Value
- ₹22 Cr
- Δ value
- down ₹59 L
- Status
- Trimmed
- Weight
- 1.16%
- Δ weight
- up 0.03 pts
- Value
- ₹21.7 Cr
- Δ value
- down ₹2.6 Cr
- Status
- Trimmed
- Weight
- 1.15%
- Δ weight
- up 0.53 pts
- Value
- ₹21.5 Cr
- Δ value
- up ₹8.2 Cr
- Status
- Added
- Weight
- 1.14%
- Δ weight
- down 0.07 pts
- Value
- ₹21.2 Cr
- Δ value
- down ₹4.6 Cr
- Status
- Trimmed
- Weight
- 1.14%
- Δ weight
- up 0.35 pts
- Value
- ₹21.2 Cr
- Δ value
- up ₹4.2 Cr
- Status
- Added
- Weight
- 1.07%
- Δ weight
- up 0.06 pts
- Value
- ₹20.1 Cr
- Δ value
- down ₹1.8 Cr
- Status
- Trimmed
- Weight
- 1.05%
- Δ weight
- down 0.28 pts
- Value
- ₹19.5 Cr
- Δ value
- down ₹9 Cr
- Status
- Trimmed
- Weight
- 1.00%
- Δ weight
- down 1.05 pts
- Value
- ₹18.7 Cr
- Δ value
- down ₹25.3 Cr
- Status
- Trimmed
- Weight
- 1.00%
- Δ weight
- up 0.05 pts
- Value
- ₹18.7 Cr
- Δ value
- down ₹1.6 Cr
- Status
- Trimmed
- Weight
- 0.98%
- Δ weight
- down 0.06 pts
- Value
- ₹18.2 Cr
- Δ value
- down ₹4 Cr
- Status
- Trimmed
- Weight
- 0.98%
- Δ weight
- up 0.04 pts
- Value
- ₹18.2 Cr
- Δ value
- down ₹1.9 Cr
- Status
- Trimmed
- Weight
- 0.96%
- Δ weight
- down 0.25 pts
- Value
- ₹17.9 Cr
- Δ value
- down ₹8 Cr
- Status
- Trimmed
- Weight
- 0.91%
- Δ weight
- down 0.11 pts
- Value
- ₹17 Cr
- Δ value
- down ₹4.9 Cr
- Status
- Trimmed
- Weight
- 0.87%
- Δ weight
- down 0.07 pts
- Value
- ₹16.2 Cr
- Δ value
- down ₹4 Cr
- Status
- Trimmed
- Weight
- 0.87%
- Δ weight
- up 0.06 pts
- Value
- ₹16.2 Cr
- Δ value
- down ₹1.1 Cr
- Status
- Trimmed
- Weight
- 0.86%
- Δ weight
- down 0.02 pts
- Value
- ₹16.1 Cr
- Δ value
- down ₹2.8 Cr
- Status
- Trimmed
- Weight
- 0.85%
- Δ weight
- up 0.02 pts
- Value
- ₹15.9 Cr
- Δ value
- down ₹2 Cr
- Status
- Trimmed
- Weight
- 0.83%
- Δ weight
- down 0.23 pts
- Value
- ₹15.6 Cr
- Δ value
- down ₹7.2 Cr
- Status
- Trimmed
- Weight
- 0.82%
- Δ weight
- up 0.39 pts
- Value
- ₹15.3 Cr
- Δ value
- up ₹6.1 Cr
- Status
- Added
- Weight
- 0.82%
- Δ weight
- up 0.32 pts
- Value
- ₹15.3 Cr
- Δ value
- up ₹4.6 Cr
- Status
- Added
- Weight
- 0.81%
- Δ weight
- up 0.00 pts
- Value
- ₹15.2 Cr
- Δ value
- down ₹2.2 Cr
- Status
- Trimmed
- Weight
- 0.81%
- Δ weight
- down 0.02 pts
- Value
- ₹15 Cr
- Δ value
- down ₹2.8 Cr
- Status
- Trimmed
- Weight
- 0.80%
- Δ weight
- up 0.80 pts
- Value
- ₹14.9 Cr
- Δ value
- up ₹14.9 Cr
- Status
- New
- Weight
- 0.78%
- Δ weight
- down 0.02 pts
- Value
- ₹14.6 Cr
- Δ value
- down ₹2.7 Cr
- Status
- Trimmed
- Weight
- 0.74%
- Δ weight
- down 0.08 pts
- Value
- ₹13.9 Cr
- Δ value
- down ₹3.8 Cr
- Status
- Trimmed
- Weight
- 0.74%
- Δ weight
- up 0.04 pts
- Value
- ₹13.8 Cr
- Δ value
- down ₹1.3 Cr
- Status
- Trimmed
- Weight
- 0.73%
- Δ weight
- down 0.06 pts
- Value
- ₹13.7 Cr
- Δ value
- down ₹3.4 Cr
- Status
- Trimmed
- Weight
- 0.73%
- Δ weight
- up 0.05 pts
- Value
- ₹13.6 Cr
- Δ value
- down ₹1 Cr
- Status
- Trimmed
- Weight
- 0.72%
- Δ weight
- down 0.04 pts
- Value
- ₹13.4 Cr
- Δ value
- down ₹2.9 Cr
- Status
- Trimmed
- Weight
- 0.70%
- Δ weight
- up 0.70 pts
- Value
- ₹13.2 Cr
- Δ value
- up ₹13.2 Cr
- Status
- New
- Weight
- 0.69%
- Δ weight
- up 0.69 pts
- Value
- ₹13 Cr
- Δ value
- up ₹13 Cr
- Status
- New
- Weight
- 0.69%
- Δ weight
- up 0.69 pts
- Value
- ₹12.8 Cr
- Δ value
- up ₹12.8 Cr
- Status
- New
- Weight
- 0.65%
- Δ weight
- up 0.07 pts
- Value
- ₹12.1 Cr
- Δ value
- down ₹24 L
- Status
- Trimmed
- Weight
- 0.65%
- Δ weight
- up 0.04 pts
- Value
- ₹12.1 Cr
- Δ value
- down ₹92 L
- Status
- Trimmed
- Weight
- 0.64%
- Δ weight
- up 0.04 pts
- Value
- ₹12 Cr
- Δ value
- down ₹93 L
- Status
- Trimmed
- Weight
- 0.61%
- Δ weight
- down 0.00 pts
- Value
- ₹11.4 Cr
- Δ value
- down ₹1.7 Cr
- Status
- Trimmed
- Weight
- 0.60%
- Δ weight
- up 0.60 pts
- Value
- ₹11.2 Cr
- Δ value
- up ₹11.2 Cr
- Status
- New
- 91 Days Treasury Bill 04-Jun-2026debt
- Weight
- 0.53%
- Δ weight
- up 0.53 pts
- Value
- ₹9.9 Cr
- Δ value
- up ₹9.9 Cr
- Status
- New
- Weight
- 0.52%
- Δ weight
- down 0.03 pts
- Value
- ₹9.8 Cr
- Δ value
- down ₹2 Cr
- Status
- Trimmed
- Weight
- 0.52%
- Δ weight
- down 0.03 pts
- Value
- ₹9.6 Cr
- Δ value
- down ₹2.1 Cr
- Status
- Trimmed
- Weight
- 0.42%
- Δ weight
- down 0.14 pts
- Value
- ₹7.9 Cr
- Δ value
- down ₹4.2 Cr
- Status
- Trimmed
- Weight
- 0.36%
- Δ weight
- up 0.36 pts
- Value
- ₹6.7 Cr
- Δ value
- up ₹6.7 Cr
- Status
- New
- Weight
- 0.35%
- Δ weight
- up 0.00 pts
- Value
- ₹6.6 Cr
- Δ value
- down ₹98 L
- Status
- Trimmed
- Weight
- 0.20%
- Δ weight
- up 0.20 pts
- Value
- ₹3.8 Cr
- Δ value
- up ₹3.8 Cr
- Status
- New
- Weight
- 0.15%
- Δ weight
- up 0.00 pts
- Value
- ₹2.8 Cr
- Δ value
- down ₹31 L
- Status
- Trimmed
- NIFTY 22700 Put April 2026 Optionderivative
- Weight
- 0.14%
- Δ weight
- up 0.14 pts
- Value
- ₹2.6 Cr
- Δ value
- up ₹2.6 Cr
- Status
- New
- Weight
- 0.06%
- Δ weight
- down 1.10 pts
- Value
- ₹1.1 Cr
- Δ value
- down ₹23.7 Cr
- Status
- Trimmed
- Weight
- 0.04%
- Δ weight
- down 0.29 pts
- Value
- ₹68 L
- Δ value
- down ₹6.3 Cr
- Status
- Trimmed
- Bank Nifty Index 53700 Call April 2026 Optionderivative
- Weight
- 0.03%
- Δ weight
- up 0.03 pts
- Value
- ₹55 L
- Δ value
- up ₹55 L
- Status
- New
What changed, Feb 2026 to Mar 2026
New New positions (9)
- HCL Technologies Limited1.5% · ₹28.6 Cr
- Oil & Natural Gas Corporation Limited1.3% · ₹24.4 Cr
- Asian Paints Limited0.8% · ₹14.9 Cr
- MphasiS Limited0.7% · ₹13.2 Cr
- United Spirits Limited0.7% · ₹13 Cr
- Britannia Industries Limited0.7% · ₹12.8 Cr
- Bharat Forge Limited0.6% · ₹11.2 Cr
- SBI Life Insurance Company Limited0.4% · ₹6.7 Cr
- Bajaj Auto Limited0.2% · ₹3.8 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 Feb 2026, the weight rose most in Power (+1.6 pts) and Oil (+1.4 pts), and fell most in Banks (−5.6 pts) and Insurance (−1.4 pts).
- Power1.0% → 2.6%+1.6 pts
- Oil0.0% → 1.4%new+1.4 pts
- Chemicals & Petrochemicals5.1% → 6.2%+1.2 pts
- Consumer Durables0.0% → 0.8%new+0.8 pts
- Beverages0.9% → 1.6%+0.7 pts
- Food Products0.0% → 0.7%new+0.7 pts
- Banks23.4% → 17.8%−5.6 pts
- Insurance1.7% → 0.4%−1.4 pts
- Agricultural, Commercial & Construction Vehicles1.2% → 0.1%−1.1 pts
- Textiles & Apparels0.6% → 0.0%exited−0.6 pts
- Auto Components4.7% → 4.3%−0.4 pts
- Petroleum Products3.0% → 2.7%−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 | Feb 2026 | Mar 2026 |
|---|---|---|
| Banks | 23.4% | 17.8% |
| Chemicals & Petrochemicals | 5.1% | 6.2% |
| Pharmaceuticals & Biotechnology | 5.0% | 5.2% |
| Electrical Equipment | 4.3% | 4.9% |
| Industrial Products | 4.2% | 4.9% |
| Finance | 4.9% | 4.8% |
| Cement & Cement Products | 4.5% | 4.3% |
| Auto Components | 4.7% | 4.3% |
| Automobiles | 3.6% | 3.9% |
| Construction | 3.7% | 3.8% |
Allocation in Mar 2026change vs Feb 2026
- Banks (7)17.8%▼ 5.6 pts
- Chemicals & Petrochemicals (5)6.2%▲ 1.2 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, Mar 2026
4.9%
▲ 3.1 pts vs Feb 2026
- Cash alone
- 4.3%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 1.6% – 4.9%
- lowest to highest · record 4.9% 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.