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Sectoral / Thematic · HSBC Mutual Fund · AMFI code 151145HSBC Business Cycles Fund
Disclosed for 26 months, Nov 2022 to Aug 2026.
Portfolio value
₹1,229 Cr
up ₹46.9 Cr vs Jul 2026
- Stocks held
- 70
- down 2 vs Jul 2026
- Top 10 weight
- 28.6%
- of the portfolio in its ten largest
- Cash & debt
- 3.7%
- cash, money market and debt
- Moves this month
- 2 in · 4 out
- added to 10, trimmed 24
HSBC Business Cycles Fund is an active equity fund in the Sectoral / Thematic category from HSBC Mutual Fund. In August 2026 it disclosed 70 stocks worth ₹1,229 Cr, up ₹46.9 Cr from Jul 2026. Its largest positions were ICICI Bank Limited (5.6%), MTAR Technologies Limited (3.4%), HDFC Bank Limited (2.8%); the ten largest together made up 28.6% of the portfolio, and Banks was the biggest sector at 15.1% of its equity. Cash and debt stood at 3.7%. Compared with Jul 2026 the fund entered 2 new stocks and exited 4.
Against 226 other Sectoral / Thematic funds
Concentration
5%
Top-10 weight is higher than 5% of peers
Breadth
91%
Holds more stocks than 91% of peers
Cash
56%
Holds more cash than 56% of peers
Holdings in August 2026
Download CSVEvery line the fund disclosed, with the change against Jul 2026. Click a column to sort; click a company to see every fund that owns it.
- Weight
- 5.62%
- Δ weight
- down 0.15 pts
- Value
- ₹69.1 Cr
- Δ value
- up ₹88 L
- Status
- Added
- Cash, TREPS & receivables
- Weight
- 3.73%
- Δ weight
- up 1.53 pts
- Value
- ₹45.8 Cr
- Δ value
- up ₹19.8 Cr
- Status
- Added
- Weight
- 3.37%
- Δ weight
- up 0.52 pts
- Value
- ₹41.5 Cr
- Δ value
- up ₹7.8 Cr
- Status
- Added
- Weight
- 2.85%
- Δ weight
- down 0.28 pts
- Value
- ₹35 Cr
- Δ value
- down ₹1.9 Cr
- Status
- Trimmed
- Weight
- 2.77%
- Δ weight
- down 0.08 pts
- Value
- ₹34 Cr
- Δ value
- up ₹41 L
- Status
- Added
- Weight
- 2.67%
- Δ weight
- down 0.17 pts
- Value
- ₹32.8 Cr
- Δ value
- down ₹79 L
- Status
- Trimmed
- Weight
- 2.49%
- Δ weight
- down 0.02 pts
- Value
- ₹30.6 Cr
- Δ value
- up ₹99 L
- Status
- Added
- Weight
- 2.27%
- Δ weight
- up 0.06 pts
- Value
- ₹27.9 Cr
- Δ value
- up ₹1.8 Cr
- Status
- Added
- Weight
- 2.20%
- Δ weight
- down 0.06 pts
- Value
- ₹27 Cr
- Δ value
- up ₹34 L
- Status
- Added
- Weight
- 2.19%
- Δ weight
- down 0.03 pts
- Value
- ₹26.9 Cr
- Δ value
- up ₹70 L
- Status
- Added
- Weight
- 2.13%
- Δ weight
- down 0.02 pts
- Value
- ₹26.2 Cr
- Δ value
- up ₹72 L
- Status
- Added
- Weight
- 2.12%
- Δ weight
- down 0.12 pts
- Value
- ₹26.1 Cr
- Δ value
- down ₹43 L
- Status
- Trimmed
- Weight
- 1.97%
- Δ weight
- down 0.02 pts
- Value
- ₹24.3 Cr
- Δ value
- up ₹75 L
- Status
- Added
- Weight
- 1.88%
- Δ weight
- up 0.06 pts
- Value
- ₹23.1 Cr
- Δ value
- up ₹1.6 Cr
- Status
- Added
- Weight
- 1.83%
- Δ weight
- down 0.15 pts
- Value
- ₹22.4 Cr
- Δ value
- down ₹89 L
- Status
- Trimmed
- Weight
- 1.83%
- Δ weight
- up 0.32 pts
- Value
- ₹22.4 Cr
- Δ value
- up ₹4.7 Cr
- Status
- Added
- Weight
- 1.82%
- Δ weight
- up 0.09 pts
- Value
- ₹22.4 Cr
- Δ value
- up ₹1.9 Cr
- Status
- Added
- Weight
- 1.82%
- Δ weight
- up 0.20 pts
- Value
- ₹22.3 Cr
- Δ value
- up ₹3.3 Cr
- Status
- Added
- Weight
- 1.81%
- Δ weight
- up 0.27 pts
- Value
- ₹22.2 Cr
- Δ value
- up ₹4 Cr
- Status
- Added
- Weight
- 1.77%
- Δ weight
- down 0.06 pts
- Value
- ₹21.7 Cr
- Δ value
- up ₹14 L
- Status
- Added
- Weight
- 1.72%
- Δ weight
- up 0.07 pts
- Value
- ₹21.1 Cr
- Δ value
- up ₹1.6 Cr
- Status
- Added
- Weight
- 1.70%
- Δ weight
- up 0.26 pts
- Value
- ₹20.9 Cr
- Δ value
- up ₹3.8 Cr
- Status
- Added
- Weight
- 1.69%
- Δ weight
- up 0.07 pts
- Value
- ₹20.8 Cr
- Δ value
- up ₹1.7 Cr
- Status
- Added
- Weight
- 1.55%
- Δ weight
- down 0.05 pts
- Value
- ₹19 Cr
- Δ value
- up ₹10 L
- Status
- Added
- Weight
- 1.50%
- Δ weight
- up 0.23 pts
- Value
- ₹18.4 Cr
- Δ value
- up ₹3.5 Cr
- Status
- Added
- Weight
- 1.46%
- Δ weight
- down 0.07 pts
- Value
- ₹18 Cr
- Δ value
- down ₹19 L
- Status
- Trimmed
- Weight
- 1.43%
- Δ weight
- up 0.11 pts
- Value
- ₹17.6 Cr
- Δ value
- up ₹2 Cr
- Status
- Added
- Weight
- 1.40%
- Δ weight
- up 0.01 pts
- Value
- ₹17.3 Cr
- Δ value
- up ₹80 L
- Status
- Added
- DDB DEWAN HSG FINANCE CORPORATION LTDPiramal Finance Limited · history in this fund
- Weight
- 1.40%
- Δ weight
- up 0.10 pts
- Value
- ₹17.3 Cr
- Δ value
- up ₹1.8 Cr
- Status
- Added
- Weight
- 1.38%
- Δ weight
- down 0.53 pts
- Value
- ₹17 Cr
- Δ value
- down ₹5.6 Cr
- Status
- Trimmed
- Weight
- 1.35%
- Δ weight
- up 0.09 pts
- Value
- ₹16.5 Cr
- Δ value
- up ₹1.7 Cr
- Status
- Added
- Weight
- 1.33%
- Δ weight
- down 0.06 pts
- Value
- ₹16.4 Cr
- Δ value
- down ₹12 L
- Status
- Trimmed
- Weight
- 1.25%
- Δ weight
- down 0.20 pts
- Value
- ₹15.4 Cr
- Δ value
- down ₹1.8 Cr
- Status
- Trimmed
- Weight
- 1.24%
- Δ weight
- down 0.02 pts
- Value
- ₹15.2 Cr
- Δ value
- up ₹36 L
- Status
- Added
- Weight
- 1.21%
- Δ weight
- up 0.04 pts
- Value
- ₹14.8 Cr
- Δ value
- up ₹1 Cr
- Status
- Added
- Weight
- 1.20%
- Δ weight
- up 0.01 pts
- Value
- ₹14.8 Cr
- Δ value
- up ₹66 L
- Status
- Added
- Weight
- 1.20%
- Δ weight
- up 0.13 pts
- Value
- ₹14.7 Cr
- Δ value
- up ₹2.1 Cr
- Status
- Added
- Weight
- 1.19%
- Δ weight
- up 0.01 pts
- Value
- ₹14.7 Cr
- Δ value
- up ₹68 L
- Status
- Added
- Weight
- 1.14%
- Δ weight
- down 0.03 pts
- Value
- ₹14.1 Cr
- Δ value
- up ₹13 L
- Status
- Added
- Weight
- 1.12%
- Δ weight
- down 0.10 pts
- Value
- ₹13.8 Cr
- Δ value
- down ₹60 L
- Status
- Trimmed
- Weight
- 1.10%
- Δ weight
- down 0.10 pts
- Value
- ₹13.5 Cr
- Δ value
- down ₹69 L
- Status
- Trimmed
- Weight
- 1.09%
- Δ weight
- down 0.06 pts
- Value
- ₹13.4 Cr
- Δ value
- down ₹24 L
- Status
- Trimmed
- Weight
- 1.09%
- Δ weight
- up 0.22 pts
- Value
- ₹13.4 Cr
- Δ value
- up ₹3.1 Cr
- Status
- Added
- Weight
- 1.09%
- Δ weight
- up 0.13 pts
- Value
- ₹13.4 Cr
- Δ value
- up ₹2 Cr
- Status
- Added
- Weight
- 1.07%
- Δ weight
- down 0.05 pts
- Value
- ₹13.2 Cr
- Δ value
- down ₹11 L
- Status
- Trimmed
- Weight
- 1.05%
- Δ weight
- up 0.02 pts
- Value
- ₹13 Cr
- Δ value
- up ₹68 L
- Status
- Added
- Weight
- 1.04%
- Δ weight
- down 0.20 pts
- Value
- ₹12.8 Cr
- Δ value
- down ₹1.9 Cr
- Status
- Trimmed
- Weight
- 1.03%
- Δ weight
- down 0.07 pts
- Value
- ₹12.7 Cr
- Δ value
- down ₹33 L
- Status
- Trimmed
- Weight
- 1.02%
- Δ weight
- up 0.02 pts
- Value
- ₹12.5 Cr
- Δ value
- up ₹75 L
- Status
- Added
- Weight
- 0.99%
- Δ weight
- down 0.41 pts
- Value
- ₹12.1 Cr
- Δ value
- down ₹4.4 Cr
- Status
- Trimmed
- Weight
- 0.96%
- Δ weight
- up 0.03 pts
- Value
- ₹11.8 Cr
- Δ value
- up ₹86 L
- Status
- Added
- Weight
- 0.95%
- Δ weight
- down 0.05 pts
- Value
- ₹11.7 Cr
- Δ value
- down ₹14 L
- Status
- Trimmed
- Weight
- 0.94%
- Δ weight
- down 0.06 pts
- Value
- ₹11.6 Cr
- Δ value
- down ₹24 L
- Status
- Trimmed
- Weight
- 0.88%
- Δ weight
- up 0.10 pts
- Value
- ₹10.8 Cr
- Δ value
- up ₹1.6 Cr
- Status
- Added
- Weight
- 0.84%
- Δ weight
- down 0.11 pts
- Value
- ₹10.3 Cr
- Δ value
- down ₹96 L
- Status
- Trimmed
- Weight
- 0.80%
- Δ weight
- down 0.03 pts
- Value
- ₹9.8 Cr
- Δ value
- up ₹4 L
- Status
- Held
- Weight
- 0.75%
- Δ weight
- up 0.09 pts
- Value
- ₹9.2 Cr
- Δ value
- up ₹1.4 Cr
- Status
- Added
- Weight
- 0.73%
- Δ weight
- up 0.11 pts
- Value
- ₹9 Cr
- Δ value
- up ₹1.6 Cr
- Status
- Added
- Weight
- 0.68%
- Δ weight
- down <0.01 pts
- Value
- ₹8.4 Cr
- Δ value
- up ₹31 L
- Status
- Added
- Weight
- 0.64%
- Δ weight
- up 0.02 pts
- Value
- ₹7.8 Cr
- Δ value
- up ₹53 L
- Status
- Added
- Weight
- 0.60%
- Δ weight
- up 0.60 pts
- Value
- ₹7.4 Cr
- Δ value
- up ₹7.4 Cr
- Status
- New
- Weight
- 0.55%
- Δ weight
- down 0.08 pts
- Value
- ₹6.7 Cr
- Δ value
- down ₹74 L
- Status
- Trimmed
- Weight
- 0.53%
- Δ weight
- up 0.07 pts
- Value
- ₹6.6 Cr
- Δ value
- up ₹1.1 Cr
- Status
- Added
- Weight
- 0.53%
- Δ weight
- down 0.02 pts
- Value
- ₹6.6 Cr
- Δ value
- up ₹2 L
- Status
- Held
- Weight
- 0.53%
- Δ weight
- down 0.01 pts
- Value
- ₹6.5 Cr
- Δ value
- up ₹19 L
- Status
- Added
- Weight
- 0.44%
- Δ weight
- down 0.03 pts
- Value
- ₹5.4 Cr
- Δ value
- down ₹11 L
- Status
- Trimmed
- Weight
- 0.37%
- Δ weight
- down 0.08 pts
- Value
- ₹4.6 Cr
- Δ value
- down ₹73 L
- Status
- Trimmed
- Bharat Bijlee LimitedBharat Bijlee Ltd. · history in this fund
- Weight
- 0.34%
- Δ weight
- down 0.04 pts
- Value
- ₹4.2 Cr
- Δ value
- down ₹29 L
- Status
- Trimmed
- Weight
- 0.32%
- Δ weight
- down 0.03 pts
- Value
- ₹3.9 Cr
- Δ value
- down ₹22 L
- Status
- Trimmed
- Weight
- 0.32%
- Δ weight
- down 0.04 pts
- Value
- ₹3.9 Cr
- Δ value
- down ₹29 L
- Status
- Trimmed
- Weight
- 0.14%
- Δ weight
- up 0.14 pts
- Value
- ₹1.7 Cr
- Δ value
- up ₹1.7 Cr
- Status
- New
What changed, Jul 2026 to Aug 2026
New New positions (2)
- Dhoot Transmission Ltd0.6% · ₹7.4 Cr
- Apar Industries Limited0.1% · ₹1.7 Cr
Exited Exited (4)
- Epigral Limitedwas 0.7% · ₹8.3 Cr
- KEC International Limitedwas 0.6% · ₹7.5 Cr
- PNC Infratech Limitedwas 0.4% · ₹4.8 Cr
- Bansal Wire Industries Limitedwas 0.3% · ₹3.8 Cr
Added Biggest additions
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 Jul 2026, the weight rose most in Aerospace & Defense (+0.7 pts) and Auto Components (+0.6 pts), and fell most in Construction (−1.6 pts) and Chemicals & Petrochemicals (−0.7 pts).
- Aerospace & Defense7.7% → 8.5%+0.7 pts
- Auto Components0.5% → 1.1%+0.6 pts
- Capital Markets10.8% → 11.4%+0.6 pts
- Financial Technology (fintech)2.6% → 3.0%+0.4 pts
- Industrial Manufacturing4.0% → 4.3%+0.3 pts
- Electrical Equipment4.7% → 4.8%+0.2 pts
- Construction6.5% → 4.8%−1.6 pts
- Chemicals & Petrochemicals1.9% → 1.3%−0.7 pts
- Non - Ferrous Metals1.4% → 1.0%−0.4 pts
- Banks15.3% → 15.1%−0.2 pts
- Petroleum Products2.9% → 2.8%−0.1 pts
- Cement & Cement Products2.0% → 1.9%−0.1 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 | Aug 2023 | Jun 2025 | Feb 2026 | Apr 2026 | Jul 2026 | Aug 2026 |
|---|---|---|---|---|---|---|
| Banks | 24.3% | 14.4% | 16.9% | 14.8% | 15.3% | 15.1% |
| Capital Markets | 1.0% | 10.7% | 9.1% | 11.1% | 10.8% | 11.4% |
| Aerospace & Defense | 2.1% | 4.7% | 7.2% | 8.4% | 7.7% | 8.5% |
| Retailing | 3.5% | 9.2% | 4.9% | 6.2% | 6.8% | 6.9% |
| Industrial Products | 12.2% | 5.5% | 4.3% | 4.2% | 5.8% | 5.8% |
| Consumer Durables | 5.2% | 5.3% | 6.5% | 5.9% | 5.6% | 5.6% |
| Finance | 1.0% | 5.3% | 6.4% | 7.0% | 5.0% | 5.2% |
| Construction | 15.7% | 10.8% | 6.9% | 6.9% | 6.5% | 4.8% |
| Electrical Equipment | 3.3% | 4.8% | 3.8% | 4.3% | 4.7% | 4.8% |
| Industrial Manufacturing | 3.4% | 2.3% | 3.8% | 3.6% | 4.0% | 4.3% |
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, Aug 2026
3.7%
▲ 1.5 pts vs Jul 2026
- Cash alone
- 3.7%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 1.7% – 3.7%
- lowest to highest · record 4.8% in Nov 2022
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.