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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
₹2,126 Cr
up ₹37.4 Cr vs Jun 2026
- Stocks held
- 77
- down 1 vs Jun 2026
- Top 10 weight
- 29.4%
- of the portfolio in its ten largest
- Cash & debt
- 3.5%
- cash, money market and debt
- Moves this month
- 4 in · 5 out
- added to 10, trimmed 23
Axis Business Cycles Fund is an active equity fund in the Sectoral / Thematic category from Axis Mutual Fund. In July 2026 it disclosed 77 stocks worth ₹2,126 Cr, up ₹37.4 Cr from Jun 2026. Its largest positions were Larsen & Toubro Limited (3.8%), ICICI Bank Limited (3.7%), Axis Bank Limited (3.5%); the ten largest together made up 29.4% of the portfolio, and Banks was the biggest sector at 17.2% of its equity. Cash and debt stood at 3.5%. Compared with Jun 2026 the fund entered 4 new stocks and exited 5.
Against 226 other Sectoral / Thematic funds
Concentration
7%
Top-10 weight is higher than 7% of peers
Breadth
95%
Holds more stocks than 95% of peers
Cash
53%
Holds more cash than 53% of peers
Holdings in July 2026
Download CSVEvery line the fund disclosed, with the change against Jun 2026. Click a column to sort; click a company to see every fund that owns it.
- Weight
- 3.81%
- Δ weight
- down 0.27 pts
- Value
- ₹81 Cr
- Δ value
- down ₹4.2 Cr
- Status
- Trimmed
- Weight
- 3.74%
- Δ weight
- up 0.09 pts
- Value
- ₹79.5 Cr
- Δ value
- up ₹3.3 Cr
- Status
- Added
- Weight
- 3.46%
- Δ weight
- down 0.18 pts
- Value
- ₹73.7 Cr
- Δ value
- down ₹2.5 Cr
- Status
- Trimmed
- Weight
- 3.18%
- Δ weight
- down 0.08 pts
- Value
- ₹67.6 Cr
- Δ value
- down ₹40 L
- Status
- Trimmed
- Cash, TREPS & receivables
- Weight
- 3.02%
- Δ weight
- up 0.78 pts
- Value
- ₹64.1 Cr
- Δ value
- up ₹17.4 Cr
- Status
- Added
- Weight
- 2.71%
- Δ weight
- up 0.22 pts
- Value
- ₹57.6 Cr
- Δ value
- up ₹5.6 Cr
- Status
- Added
- Weight
- 2.66%
- Δ weight
- up 0.31 pts
- Value
- ₹56.5 Cr
- Δ value
- up ₹7.4 Cr
- Status
- Added
- Weight
- 2.59%
- Δ weight
- down 0.05 pts
- Value
- ₹55.1 Cr
- Δ value
- up ₹1 L
- Status
- Held
- Weight
- 2.54%
- Δ weight
- up 1.17 pts
- Value
- ₹53.9 Cr
- Δ value
- up ₹25.3 Cr
- Status
- Added
- Weight
- 2.38%
- Δ weight
- up 0.17 pts
- Value
- ₹50.6 Cr
- Δ value
- up ₹4.4 Cr
- Status
- Added
- Weight
- 2.32%
- Δ weight
- down 0.32 pts
- Value
- ₹49.4 Cr
- Δ value
- down ₹5.7 Cr
- Status
- Trimmed
- Weight
- 2.28%
- Δ weight
- down 0.02 pts
- Value
- ₹48.5 Cr
- Δ value
- up ₹44 L
- Status
- Added
- Weight
- 2.10%
- Δ weight
- down 0.33 pts
- Value
- ₹44.7 Cr
- Δ value
- down ₹6.2 Cr
- Status
- Trimmed
- Weight
- 2.04%
- Δ weight
- up 1.27 pts
- Value
- ₹43.4 Cr
- Δ value
- up ₹27.3 Cr
- Status
- Added
- Weight
- 2.00%
- Δ weight
- down 0.01 pts
- Value
- ₹42.5 Cr
- Δ value
- up ₹45 L
- Status
- Added
- Weight
- 1.75%
- Δ weight
- down 0.02 pts
- Value
- ₹37.3 Cr
- Δ value
- up ₹24 L
- Status
- Added
- Weight
- 1.73%
- Δ weight
- up 0.08 pts
- Value
- ₹36.7 Cr
- Δ value
- up ₹2.4 Cr
- Status
- Added
- Weight
- 1.56%
- Δ weight
- up 0.02 pts
- Value
- ₹33.1 Cr
- Δ value
- up ₹1.1 Cr
- Status
- Added
- Weight
- 1.53%
- Δ weight
- down 0.56 pts
- Value
- ₹32.4 Cr
- Δ value
- down ₹11.1 Cr
- Status
- Trimmed
- Weight
- 1.47%
- Δ weight
- up 0.26 pts
- Value
- ₹31.2 Cr
- Δ value
- up ₹6.1 Cr
- Status
- Added
- Weight
- 1.46%
- Δ weight
- down 0.07 pts
- Value
- ₹31.1 Cr
- Δ value
- down ₹96 L
- Status
- Trimmed
- Weight
- 1.46%
- Δ weight
- up 0.03 pts
- Value
- ₹31 Cr
- Δ value
- up ₹1.2 Cr
- Status
- Added
- Weight
- 1.45%
- Δ weight
- up 0.07 pts
- Value
- ₹30.8 Cr
- Δ value
- up ₹1.9 Cr
- Status
- Added
- Weight
- 1.39%
- Δ weight
- up 0.09 pts
- Value
- ₹29.7 Cr
- Δ value
- up ₹2.4 Cr
- Status
- Added
- Weight
- 1.38%
- Δ weight
- up 0.03 pts
- Value
- ₹29.4 Cr
- Δ value
- up ₹1.2 Cr
- Status
- Added
- Weight
- 1.36%
- Δ weight
- down 0.25 pts
- Value
- ₹28.8 Cr
- Δ value
- down ₹4.8 Cr
- Status
- Trimmed
- Weight
- 1.25%
- Δ weight
- up 0.02 pts
- Value
- ₹26.6 Cr
- Δ value
- up ₹84 L
- Status
- Added
- Weight
- 1.23%
- Δ weight
- up 0.14 pts
- Value
- ₹26.1 Cr
- Δ value
- up ₹3.3 Cr
- Status
- Added
- Weight
- 1.22%
- Δ weight
- down 0.15 pts
- Value
- ₹26 Cr
- Δ value
- down ₹2.6 Cr
- Status
- Trimmed
- Weight
- 1.21%
- Δ weight
- up 0.03 pts
- Value
- ₹25.6 Cr
- Δ value
- up ₹1 Cr
- Status
- Added
- Weight
- 1.09%
- Δ weight
- up 0.10 pts
- Value
- ₹23.1 Cr
- Δ value
- up ₹2.5 Cr
- Status
- Added
- Weight
- 1.07%
- Δ weight
- up 0.11 pts
- Value
- ₹22.7 Cr
- Δ value
- up ₹2.8 Cr
- Status
- Added
- Weight
- 1.06%
- Δ weight
- up 0.01 pts
- Value
- ₹22.6 Cr
- Δ value
- up ₹65 L
- Status
- Added
- Weight
- 1.06%
- Δ weight
- down 0.22 pts
- Value
- ₹22.6 Cr
- Δ value
- down ₹4.1 Cr
- Status
- Trimmed
- Weight
- 1.05%
- Δ weight
- up 0.01 pts
- Value
- ₹22.3 Cr
- Δ value
- up ₹68 L
- Status
- Added
- Weight
- 1.02%
- Δ weight
- up 0.01 pts
- Value
- ₹21.8 Cr
- Δ value
- up ₹52 L
- Status
- Added
- Weight
- 1.01%
- Δ weight
- down 0.30 pts
- Value
- ₹21.4 Cr
- Δ value
- down ₹6 Cr
- Status
- Trimmed
- Weight
- 0.98%
- Δ weight
- up 0.33 pts
- Value
- ₹20.8 Cr
- Δ value
- up ₹7.3 Cr
- Status
- Added
- Weight
- 0.97%
- Δ weight
- down <0.01 pts
- Value
- ₹20.6 Cr
- Δ value
- up ₹26 L
- Status
- Added
- Weight
- 0.96%
- Δ weight
- down <0.01 pts
- Value
- ₹20.4 Cr
- Δ value
- up ₹28 L
- Status
- Added
- Weight
- 0.94%
- Δ weight
- down 0.96 pts
- Value
- ₹19.9 Cr
- Δ value
- down ₹19.7 Cr
- Status
- Trimmed
- Weight
- 0.94%
- Δ weight
- up 0.94 pts
- Value
- ₹19.9 Cr
- Δ value
- up ₹19.9 Cr
- Status
- New
- Weight
- 0.92%
- Δ weight
- up 0.03 pts
- Value
- ₹19.6 Cr
- Δ value
- up ₹1 Cr
- Status
- Added
- Weight
- 0.91%
- Δ weight
- up 0.52 pts
- Value
- ₹19.4 Cr
- Δ value
- up ₹11.3 Cr
- Status
- Added
- Weight
- 0.90%
- Δ weight
- up 0.70 pts
- Value
- ₹19.2 Cr
- Δ value
- up ₹15 Cr
- Status
- Added
- Weight
- 0.90%
- Δ weight
- down 0.21 pts
- Value
- ₹19.2 Cr
- Δ value
- down ₹4 Cr
- Status
- Trimmed
- Weight
- 0.90%
- Δ weight
- up 0.11 pts
- Value
- ₹19.2 Cr
- Δ value
- up ₹2.6 Cr
- Status
- Added
- Weight
- 0.89%
- Δ weight
- down 0.13 pts
- Value
- ₹18.9 Cr
- Δ value
- down ₹2.5 Cr
- Status
- Trimmed
- Weight
- 0.87%
- Δ weight
- up 0.14 pts
- Value
- ₹18.4 Cr
- Δ value
- up ₹3.2 Cr
- Status
- Added
- Weight
- 0.84%
- Δ weight
- down 0.22 pts
- Value
- ₹17.9 Cr
- Δ value
- down ₹4.3 Cr
- Status
- Trimmed
- Weight
- 0.81%
- Δ weight
- up 0.81 pts
- Value
- ₹17.3 Cr
- Δ value
- up ₹17.3 Cr
- Status
- New
- Weight
- 0.78%
- Δ weight
- down 0.01 pts
- Value
- ₹16.5 Cr
- Δ value
- up ₹18 L
- Status
- Added
- Weight
- 0.77%
- Δ weight
- up 0.06 pts
- Value
- ₹16.4 Cr
- Δ value
- up ₹1.5 Cr
- Status
- Added
- Weight
- 0.76%
- Δ weight
- up 0.07 pts
- Value
- ₹16.1 Cr
- Δ value
- up ₹1.8 Cr
- Status
- Added
- Weight
- 0.75%
- Δ weight
- down 0.01 pts
- Value
- ₹16 Cr
- Δ value
- up ₹9 L
- Status
- Added
- Weight
- 0.75%
- Δ weight
- down 0.11 pts
- Value
- ₹15.9 Cr
- Δ value
- down ₹2 Cr
- Status
- Trimmed
- Weight
- 0.72%
- Δ weight
- up 0.04 pts
- Value
- ₹15.4 Cr
- Δ value
- up ₹1.1 Cr
- Status
- Added
- Weight
- 0.72%
- Δ weight
- down 0.03 pts
- Value
- ₹15.3 Cr
- Δ value
- down ₹38 L
- Status
- Trimmed
- Weight
- 0.71%
- Δ weight
- up 0.03 pts
- Value
- ₹15.2 Cr
- Δ value
- up ₹100 L
- Status
- Added
- Weight
- 0.71%
- Δ weight
- up 0.04 pts
- Value
- ₹15 Cr
- Δ value
- up ₹1.2 Cr
- Status
- Added
- Weight
- 0.71%
- Δ weight
- up 0.02 pts
- Value
- ₹15 Cr
- Δ value
- up ₹71 L
- Status
- Added
- Weight
- 0.70%
- Δ weight
- down 0.03 pts
- Value
- ₹14.8 Cr
- Δ value
- down ₹29 L
- Status
- Trimmed
- Weight
- 0.69%
- Δ weight
- up 0.01 pts
- Value
- ₹14.7 Cr
- Δ value
- up ₹37 L
- Status
- Added
- Weight
- 0.67%
- Δ weight
- down 0.20 pts
- Value
- ₹14.2 Cr
- Δ value
- down ₹4 Cr
- Status
- Trimmed
- Weight
- 0.66%
- Δ weight
- up 0.03 pts
- Value
- ₹14.1 Cr
- Δ value
- up ₹80 L
- Status
- Added
- Weight
- 0.66%
- Δ weight
- down 0.20 pts
- Value
- ₹14 Cr
- Δ value
- down ₹4 Cr
- Status
- Trimmed
- Weight
- 0.65%
- Δ weight
- up 0.65 pts
- Value
- ₹13.9 Cr
- Δ value
- up ₹13.9 Cr
- Status
- New
- Weight
- 0.63%
- Δ weight
- down 0.01 pts
- Value
- ₹13.4 Cr
- Δ value
- down ₹6 L
- Status
- Held
- Weight
- 0.62%
- Δ weight
- down 0.07 pts
- Value
- ₹13.2 Cr
- Δ value
- down ₹1.3 Cr
- Status
- Trimmed
- Weight
- 0.61%
- Δ weight
- down 0.25 pts
- Value
- ₹13 Cr
- Δ value
- down ₹5.1 Cr
- Status
- Trimmed
- Weight
- 0.59%
- Δ weight
- up <0.01 pts
- Value
- ₹12.6 Cr
- Δ value
- up ₹30 L
- Status
- Added
- Weight
- 0.58%
- Δ weight
- up 0.58 pts
- Value
- ₹12.4 Cr
- Δ value
- up ₹12.4 Cr
- Status
- New
- Weight
- 0.57%
- Δ weight
- up 0.02 pts
- Value
- ₹12.1 Cr
- Δ value
- up ₹65 L
- Status
- Added
- Weight
- 0.50%
- Δ weight
- up 0.03 pts
- Value
- ₹10.6 Cr
- Δ value
- up ₹77 L
- Status
- Added
- Weight
- 0.50%
- Δ weight
- down 0.01 pts
- Value
- ₹10.6 Cr
- Δ value
- up ₹3 L
- Status
- Held
- 91 Days Treasury Bill 20-Aug-2026Debt
- Weight
- 0.47%
- Δ weight
- down 0.01 pts
- Value
- ₹10 Cr
- Δ value
- up ₹4 L
- Status
- Held
- Weight
- 0.41%
- Δ weight
- up 0.07 pts
- Value
- ₹8.7 Cr
- Δ value
- up ₹1.6 Cr
- Status
- Added
- Weight
- 0.39%
- Δ weight
- up 0.02 pts
- Value
- ₹8.3 Cr
- Δ value
- up ₹55 L
- Status
- Added
- Weight
- 0.35%
- Δ weight
- down 0.26 pts
- Value
- ₹7.5 Cr
- Δ value
- down ₹5.4 Cr
- Status
- Trimmed
- NIFTY 24200 Put August 2026 OptionDerivative
- Weight
- 0.01%
- Δ weight
- up 0.01 pts
- Value
- ₹20 L
- Δ value
- up ₹20 L
- Status
- New
What changed, Jun 2026 to Jul 2026
New New positions (4)
- TD Power Systems Limited0.9% · ₹19.9 Cr
- Amber Enterprises India Limited0.8% · ₹17.3 Cr
- Alkem Laboratories Limited0.7% · ₹13.9 Cr
- ABB India Limited0.6% · ₹12.4 Cr
Exited Exited (5)
- CG Power and Industrial Solutions Limitedwas 1.5% · ₹32.3 Cr
- Bharat Heavy Electricals Limitedwas 1.1% · ₹23.4 Cr
- Bandhan Bank Limitedwas 0.7% · ₹15.1 Cr
- InterGlobe Aviation Limited
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 Jun 2026, the weight rose most in Finance (+1.4 pts) and IT - Software (+1.2 pts), and fell most in Electrical Equipment (−1.9 pts) and Banks (−1.4 pts).
- Finance5.1% → 6.5%+1.4 pts
- IT - Software3.0% → 4.3%+1.2 pts
- Consumer Durables1.2% → 2.1%+0.9 pts
- Retailing4.5% → 5.3%+0.8 pts
- Pharmaceuticals & Biotechnology2.9% → 3.6%+0.7 pts
- Automobiles3.7% → 4.1%+0.4 pts
- Electrical Equipment3.4% → 1.6%−1.9 pts
- Banks18.6% → 17.2%−1.4 pts
- Industrial Products6.0% → 4.9%−1.1 pts
- Transport Services2.1% → 1.0%−1.0 pts
- Capital Markets2.7% → 2.2%−0.5 pts
- Construction4.2% → 4.0%−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 2026 | Mar 2026 | Jun 2026 | Jul 2026 |
|---|---|---|---|---|
| Banks | 21.4% | 17.8% | 18.6% | 17.2% |
| Chemicals & Petrochemicals | 4.2% | 6.2% | 6.9% | 7.0% |
| Finance | 7.9% | 4.8% | 5.1% | 6.5% |
| Auto Components | 3.4% | 4.3% | 5.4% | 5.6% |
| Retailing | 3.0% | 3.0% | 4.5% | 5.3% |
| Industrial Products | 4.2% | 4.9% | 6.0% | 4.9% |
| IT - Software | 5.8% | 3.4% | 3.0% | 4.3% |
| Automobiles | 4.1% | 3.9% | 3.7% | 4.1% |
| Construction | 3.6% | 3.8% | 4.2% | 4.0% |
| Cement & Cement Products | 4.5% | 4.3% | 3.8% | 3.7% |
Allocation in Jul 2026change vs Jun 2026
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, Jul 2026
3.5%
▲ 0.8 pts vs Jun 2026
- Cash alone
- 3.0%
- 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.