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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
₹1,153 Cr
up ₹155 Cr vs Apr 2025
- Stocks held
- 64
- up 1 vs Apr 2025
- Top 10 weight
- 37.5%
- of the portfolio in its ten largest
- Cash & debt
- 4.1%
- cash, money market and debt
- Moves this month
- 3 in · 2 out
- added to 10, trimmed 13
HSBC Business Cycles Fund is an active equity fund in the Sectoral / Thematic category from HSBC Mutual Fund. In June 2025 it disclosed 64 stocks worth ₹1,153 Cr, up ₹155 Cr from Apr 2025. Its largest positions were Multi Commodity Exchange of India Limited (5.5%), ICICI Bank Limited (5.3%), Reliance Industries Limited (5.2%); the ten largest together made up 37.5% of the portfolio, and Banks was the biggest sector at 14.4% of its equity. Cash and debt stood at 4.1%. Compared with Apr 2025 the fund entered 3 new stocks and exited 2.
Against 226 other Sectoral / Thematic funds
Concentration
25%
Top-10 weight is higher than 25% of peers
Breadth
86%
Holds more stocks than 86% of peers
Cash
62%
Holds more cash than 62% of peers
Holdings in June 2025
Download CSVEvery line the fund disclosed, with the change against Apr 2025. Click a column to sort; click a company to see every fund that owns it.
- Weight
- 5.51%
- Δ weight
- up 0.26 pts
- Value
- ₹63.6 Cr
- Δ value
- up ₹11.1 Cr
- Status
- Added
- Weight
- 5.33%
- Δ weight
- down 0.75 pts
- Value
- ₹61.4 Cr
- Δ value
- up ₹80 L
- Status
- Added
- Weight
- 5.23%
- Δ weight
- down 0.43 pts
- Value
- ₹60.3 Cr
- Δ value
- up ₹3.8 Cr
- Status
- Added
- Weight
- 5.16%
- Δ weight
- up 0.20 pts
- Value
- ₹59.5 Cr
- Δ value
- up ₹10 Cr
- Status
- Added
- Weight
- 4.28%
- Δ weight
- down 0.48 pts
- Value
- ₹49.4 Cr
- Δ value
- up ₹1.9 Cr
- Status
- Added
- Cash, TREPS & receivables
- Weight
- 4.13%
- Δ weight
- up 0.13 pts
- Value
- ₹47.7 Cr
- Δ value
- up ₹7.7 Cr
- Status
- Added
- Weight
- 2.64%
- Δ weight
- up 0.26 pts
- Value
- ₹30.5 Cr
- Δ value
- up ₹6.7 Cr
- Status
- Added
- Weight
- 2.46%
- Δ weight
- up 0.34 pts
- Value
- ₹28.4 Cr
- Δ value
- up ₹7.2 Cr
- Status
- Added
- Weight
- 2.42%
- Δ weight
- up 0.08 pts
- Value
- ₹27.9 Cr
- Δ value
- up ₹4.6 Cr
- Status
- Added
- Weight
- 2.24%
- Δ weight
- down 0.23 pts
- Value
- ₹25.8 Cr
- Δ value
- up ₹1.2 Cr
- Status
- Added
- Weight
- 2.21%
- Δ weight
- up 1.75 pts
- Value
- ₹25.5 Cr
- Δ value
- up ₹20.9 Cr
- Status
- Added
- Weight
- 2.12%
- Δ weight
- down 0.11 pts
- Value
- ₹24.4 Cr
- Δ value
- up ₹2.2 Cr
- Status
- Added
- Weight
- 2.07%
- Δ weight
- down 0.37 pts
- Value
- ₹23.9 Cr
- Δ value
- down ₹49 L
- Status
- Trimmed
- Weight
- 2.06%
- Δ weight
- down 0.23 pts
- Value
- ₹23.7 Cr
- Δ value
- up ₹89 L
- Status
- Added
- Weight
- 2.04%
- Δ weight
- down 0.13 pts
- Value
- ₹23.5 Cr
- Δ value
- up ₹1.8 Cr
- Status
- Added
- Weight
- 1.98%
- Δ weight
- up 0.15 pts
- Value
- ₹22.8 Cr
- Δ value
- up ₹4.6 Cr
- Status
- Added
- Weight
- 1.88%
- Δ weight
- down 0.55 pts
- Value
- ₹21.7 Cr
- Δ value
- down ₹2.5 Cr
- Status
- Trimmed
- Weight
- 1.84%
- Δ weight
- up 0.17 pts
- Value
- ₹21.3 Cr
- Δ value
- up ₹4.5 Cr
- Status
- Added
- Weight
- 1.72%
- Δ weight
- down 0.09 pts
- Value
- ₹19.8 Cr
- Δ value
- up ₹1.8 Cr
- Status
- Added
- Weight
- 1.70%
- Δ weight
- down 0.35 pts
- Value
- ₹19.6 Cr
- Δ value
- down ₹85 L
- Status
- Trimmed
- Weight
- 1.68%
- Δ weight
- down 0.61 pts
- Value
- ₹19.4 Cr
- Δ value
- down ₹3.5 Cr
- Status
- Trimmed
- Weight
- 1.63%
- Δ weight
- down 0.18 pts
- Value
- ₹18.8 Cr
- Δ value
- up ₹73 L
- Status
- Added
- Weight
- 1.60%
- Δ weight
- down 0.38 pts
- Value
- ₹18.5 Cr
- Δ value
- down ₹1.3 Cr
- Status
- Trimmed
- Weight
- 1.59%
- Δ weight
- up 0.19 pts
- Value
- ₹18.3 Cr
- Δ value
- up ₹4.4 Cr
- Status
- Added
- Weight
- 1.49%
- Δ weight
- down 0.08 pts
- Value
- ₹17.2 Cr
- Δ value
- up ₹1.5 Cr
- Status
- Added
- Weight
- 1.47%
- Δ weight
- up 0.47 pts
- Value
- ₹17 Cr
- Δ value
- up ₹7 Cr
- Status
- Added
- Weight
- 1.45%
- Δ weight
- down 0.20 pts
- Value
- ₹16.7 Cr
- Δ value
- up ₹24 L
- Status
- Added
- Weight
- 1.38%
- Δ weight
- down 0.07 pts
- Value
- ₹15.9 Cr
- Δ value
- up ₹1.4 Cr
- Status
- Added
- Weight
- 1.38%
- Δ weight
- down 0.12 pts
- Value
- ₹15.9 Cr
- Δ value
- up ₹91 L
- Status
- Added
- Weight
- 1.27%
- Δ weight
- up 0.15 pts
- Value
- ₹14.6 Cr
- Δ value
- up ₹3.5 Cr
- Status
- Added
- Weight
- 1.27%
- Δ weight
- down 0.07 pts
- Value
- ₹14.6 Cr
- Δ value
- up ₹1.2 Cr
- Status
- Added
- Weight
- 1.26%
- Δ weight
- down 0.02 pts
- Value
- ₹14.5 Cr
- Δ value
- up ₹1.8 Cr
- Status
- Added
- Weight
- 1.24%
- Δ weight
- up 1.24 pts
- Value
- ₹14.4 Cr
- Δ value
- up ₹14.4 Cr
- Status
- New
- Weight
- 1.21%
- Δ weight
- up 0.28 pts
- Value
- ₹13.9 Cr
- Δ value
- up ₹4.7 Cr
- Status
- Added
- Weight
- 1.20%
- Δ weight
- up 0.05 pts
- Value
- ₹13.8 Cr
- Δ value
- up ₹2.3 Cr
- Status
- Added
- Weight
- 1.20%
- Δ weight
- down 0.13 pts
- Value
- ₹13.8 Cr
- Δ value
- up ₹56 L
- Status
- Added
- Weight
- 1.12%
- Δ weight
- up 0.59 pts
- Value
- ₹12.9 Cr
- Δ value
- up ₹7.6 Cr
- Status
- Added
- Weight
- 0.99%
- Δ weight
- down 0.24 pts
- Value
- ₹11.5 Cr
- Δ value
- down ₹83 L
- Status
- Trimmed
- Weight
- 0.94%
- Δ weight
- up 0.94 pts
- Value
- ₹10.9 Cr
- Δ value
- up ₹10.9 Cr
- Status
- New
- Weight
- 0.93%
- Δ weight
- down 0.05 pts
- Value
- ₹10.7 Cr
- Δ value
- up ₹90 L
- Status
- Added
- Weight
- 0.87%
- Δ weight
- down 0.04 pts
- Value
- ₹10 Cr
- Δ value
- up ₹99 L
- Status
- Added
- Weight
- 0.85%
- Δ weight
- down 0.05 pts
- Value
- ₹9.8 Cr
- Δ value
- up ₹82 L
- Status
- Added
- Weight
- 0.84%
- Δ weight
- down 0.13 pts
- Value
- ₹9.7 Cr
- Δ value
- down ₹3 L
- Status
- Held
- Weight
- 0.82%
- Δ weight
- down 0.06 pts
- Value
- ₹9.5 Cr
- Δ value
- up ₹69 L
- Status
- Added
- Weight
- 0.81%
- Δ weight
- down 0.15 pts
- Value
- ₹9.3 Cr
- Δ value
- down ₹24 L
- Status
- Trimmed
- Weight
- 0.75%
- Δ weight
- down 0.04 pts
- Value
- ₹8.6 Cr
- Δ value
- up ₹72 L
- Status
- Added
- Weight
- 0.71%
- Δ weight
- up 0.01 pts
- Value
- ₹8.2 Cr
- Δ value
- up ₹1.2 Cr
- Status
- Added
- Weight
- 0.67%
- Δ weight
- down 0.04 pts
- Value
- ₹7.7 Cr
- Δ value
- up ₹62 L
- Status
- Added
- Weight
- 0.66%
- Δ weight
- up 0.09 pts
- Value
- ₹7.6 Cr
- Δ value
- up ₹2 Cr
- Status
- Added
- Weight
- 0.66%
- Δ weight
- up 0.06 pts
- Value
- ₹7.6 Cr
- Δ value
- up ₹1.6 Cr
- Status
- Added
- Weight
- 0.65%
- Δ weight
- up 0.65 pts
- Value
- ₹7.5 Cr
- Δ value
- up ₹7.5 Cr
- Status
- New
- Weight
- 0.64%
- Δ weight
- down 0.33 pts
- Value
- ₹7.4 Cr
- Δ value
- down ₹2.3 Cr
- Status
- Trimmed
- Weight
- 0.58%
- Δ weight
- down 0.12 pts
- Value
- ₹6.7 Cr
- Δ value
- down ₹30 L
- Status
- Trimmed
- Weight
- 0.58%
- Δ weight
- up 0.21 pts
- Value
- ₹6.7 Cr
- Δ value
- up ₹3 Cr
- Status
- Added
- Weight
- 0.52%
- Δ weight
- up <0.01 pts
- Value
- ₹6 Cr
- Δ value
- up ₹85 L
- Status
- Added
- Weight
- 0.52%
- Δ weight
- down 0.04 pts
- Value
- ₹6 Cr
- Δ value
- up ₹41 L
- Status
- Added
- Weight
- 0.52%
- Δ weight
- down 0.04 pts
- Value
- ₹6 Cr
- Δ value
- up ₹40 L
- Status
- Added
- Weight
- 0.50%
- Δ weight
- down 0.08 pts
- Value
- ₹5.8 Cr
- Δ value
- down ₹4 L
- Status
- Trimmed
- Weight
- 0.47%
- Δ weight
- down 0.08 pts
- Value
- ₹5.4 Cr
- Δ value
- down ₹2 L
- Status
- Held
- Weight
- 0.45%
- Δ weight
- up 0.12 pts
- Value
- ₹5.2 Cr
- Δ value
- up ₹1.9 Cr
- Status
- Added
- Weight
- 0.44%
- Δ weight
- down 0.13 pts
- Value
- ₹5.1 Cr
- Δ value
- down ₹60 L
- Status
- Trimmed
- Weight
- 0.43%
- Δ weight
- down 0.07 pts
- Value
- ₹4.9 Cr
- Δ value
- down ₹8 L
- Status
- Trimmed
- Weight
- 0.27%
- Δ weight
- down 0.05 pts
- Value
- ₹3.1 Cr
- Δ value
- down ₹4 L
- Status
- Trimmed
- Bharat Bijlee LimitedBharat Bijlee Ltd. · history in this fund
- Weight
- 0.24%
- Δ weight
- down 0.02 pts
- Value
- ₹2.7 Cr
- Δ value
- up ₹16 L
- Status
- Added
- Weight
- 0.23%
- Δ weight
- down 0.01 pts
- Value
- ₹2.6 Cr
- Δ value
- up ₹29 L
- Status
- Added
What changed, Apr 2025 to Jun 2025
New New positions (3)
- Motilal Oswal Financial Services Limited1.2% · ₹14.4 Cr
- Devyani International Limited0.9% · ₹10.9 Cr
- Mold-Tek Packaging Limited0.6% · ₹7.5 Cr
Exited Exited (2)
- H.G. Infra Engineering Limitedwas 0.6% · ₹6.4 Cr
- Timken India Limitedwas 0.4% · ₹4.4 Cr
Added Biggest additions
- Swiggy Limitedup ₹20.9 Cr (+1.75% pts)
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 Apr 2025, the weight rose most in Retailing (+2.5 pts) and Leisure Services (+1.5 pts), and fell most in Banks (−1.9 pts) and Fertilizers & Agrochemicals (−0.6 pts).
- Retailing6.7% → 9.2%+2.5 pts
- Leisure Services1.6% → 3.0%+1.5 pts
- Capital Markets9.6% → 10.7%+1.1 pts
- Industrial Products5.0% → 5.5%+0.5 pts
- Aerospace & Defense4.5% → 4.7%+0.2 pts
- Electrical Equipment4.6% → 4.8%+0.2 pts
- Banks16.3% → 14.4%−1.9 pts
- Fertilizers & Agrochemicals2.4% → 1.8%−0.6 pts
- Financial Technology (fintech)2.5% → 2.0%−0.6 pts
- Consumer Durables5.9% → 5.3%−0.5 pts
- Finance5.8% → 5.3%−0.5 pts
- Petroleum Products5.9% → 5.5%−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 | Jun 2024 | Dec 2024 | Mar 2025 | Apr 2025 | Jun 2025 |
|---|---|---|---|---|---|
| Banks | 13.0% | 11.2% | 15.8% | 16.3% | 14.4% |
| Construction | 17.6% | 13.7% | 12.0% | 11.1% | 10.8% |
| Capital Markets | 4.9% | 9.6% | 9.3% | 9.6% | 10.7% |
| Retailing | 6.4% | 6.8% | 5.4% | 6.7% | 9.2% |
| Industrial Products | 8.3% | 6.6% | 5.7% | 5.0% | 5.5% |
| Petroleum Products | 4.7% | 3.5% | 5.4% | 5.9% | 5.5% |
| Consumer Durables | 5.5% | 6.1% | 6.8% | 5.9% | 5.3% |
| Finance | 3.9% | 5.5% | 5.7% | 5.8% | 5.3% |
| Electrical Equipment | 3.9% | 5.5% | 4.8% | 4.6% | 4.8% |
| Aerospace & Defense | 3.4% | 4.2% | 5.3% | 4.5% | 4.7% |
Allocation in Jun 2025change vs Apr 2025
- Banks (5)14.4%
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, Jun 2025
4.1%
▲ 0.1 pts vs Apr 2025
- Cash alone
- 4.1%
- cash and net receivables
- A year earlier
- 1.5%
- Jun 2024 · now ▲ 2.7 pts
- Last 12 months
- 2.3% – 4.1%
- 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.