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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
₹1,183 Cr
up ₹33.6 Cr vs Apr 2026
- Stocks held
- 71
- up 2 vs Apr 2026
- Top 10 weight
- 29.8%
- of the portfolio in its ten largest
- Cash & debt
- 3.0%
- cash, money market and debt
- Moves this month
HSBC Business Cycles Fund is an active equity fund in the Sectoral / Thematic category from HSBC Mutual Fund. In June 2026 it disclosed 71 stocks worth ₹1,183 Cr, up ₹33.6 Cr from Apr 2026. Its largest positions were ICICI Bank Limited (5.5%), MTAR Technologies Limited (3.8%), HDFC Bank Limited (3.3%); the ten largest together made up 29.8% of the portfolio, and Banks was the biggest sector at 15.4% of its equity. Cash and debt stood at 3.0%. Compared with Apr 2026 the fund entered 5 new stocks and exited 3.
Against 229 other Sectoral / Thematic funds
Concentration
7%
Top-10 weight is higher than 7% of peers
Breadth
91%
Holds more stocks than 91% of peers
Cash
43%
Holds more cash than 43% of peers
What these mean: concentration · cash
Holdings in June 2026
Download CSVEvery line the fund disclosed, with the change against Apr 2026. Click a column to sort; click a company to see every fund that owns it. New to these? How to read a portfolio.
| ICICI Bank Limited | 5.52% | up 0.30 pts | ₹65.3 Cr | up ₹5.3 Cr | Added |
| MTAR Technologies Limited | 3.80% | up 0.49 pts | ₹44.9 Cr | up ₹6.9 Cr | Added |
| HDFC Bank Limited | 3.33% | up 0.02 pts | ₹39.4 Cr | up ₹1.3 Cr | Added |
| Cash, TREPS & receivables | 3.05% | up 1.39 pts | ₹36.1 Cr | up ₹17 Cr | Added |
| Reliance Industries Limited | 2.81% | down 2.19 pts | ₹33.2 Cr | down ₹24.3 Cr | Trimmed |
| InterGlobe Aviation Limited | 2.50% | up 0.81 pts | ₹29.5 Cr | up ₹10.2 Cr | Added |
| GE Vernova T&D India Limited | 2.47% | up 0.17 pts | ₹29.2 Cr | up ₹2.8 Cr | Added |
| ICICI Prudential Asset Management Company Limited | 2.39% | down 0.05 pts | ₹28.2 Cr | up ₹25 L | Added |
| Hindustan Aeronautics Limited | 2.36% | down 0.05 pts | ₹28 Cr | up ₹27 L | Added |
| Bharat Electronics Limited | 2.35% | down 0.18 pts | ₹27.8 Cr | down ₹1.3 Cr | Trimmed |
| Larsen & Toubro Limited | 2.33% | up 0.01 pts | ₹27.6 Cr | up ₹86 L | Added |
| RBL Bank Limited | 2.22% | up 0.14 pts | ₹26.2 Cr | up ₹2.3 Cr | Added |
| Power Finance Corporation Limited | 2.16% | down 0.19 pts | ₹25.6 Cr | down ₹1.5 Cr | Trimmed |
| Ahluwalia Contracts (India) Limited | 1.99% | down 0.14 pts | ₹23.5 Cr | down ₹97 L | Trimmed |
| State Bank of India | 1.99% | down 0.14 pts | ₹23.5 Cr | down ₹95 L | Trimmed |
| UltraTech Cement Limited | 1.86% | down 0.11 pts | ₹22.1 Cr | down ₹65 L | Trimmed |
| Kotak Mahindra Bank Limited | 1.83% | down 0.01 pts | ₹21.6 Cr | up ₹49 L | Added |
| PNB Housing Finance Limited | 1.71% | down 0.06 pts | ₹20.2 Cr | down ₹14 L | Trimmed |
| PB Fintech Limited | 1.64% | down 0.09 pts | ₹19.4 Cr | down ₹45 L | Trimmed |
| Motilal Oswal Financial Services Limited | 1.61% | up 0.22 pts | ₹19 Cr | up ₹3 Cr | Added |
| Multi Commodity Exchange of India Limited | 1.58% | down 1.67 pts | ₹18.7 Cr | down ₹18.7 Cr | Trimmed |
| APL Apollo Tubes Limited | 1.51% | up 0.68 pts | ₹17.9 Cr | up ₹8.4 Cr | Added |
| Paradeep Phosphates Limited | 1.50% | up 0.04 pts | ₹17.7 Cr | up ₹92 L | Added |
| Electronics Mart India Limited | 1.49% | up 0.14 pts | ₹17.7 Cr | up ₹2.1 Cr | Added |
| Nippon Life India Asset Management Limited | 1.47% | up 0.16 pts | ₹17.4 Cr | up ₹2.3 Cr | Added |
| TVS Motor Company Limited | 1.46% | down 0.06 pts | ₹17.3 Cr | down ₹16 L | Trimmed |
| Eternal Limited | 1.44% | down 0.48 pts | ₹17 Cr | down ₹5 Cr | Trimmed |
| DDB DEWAN HSG FINANCE CORPORATION LTD Piramal Finance Limited · history in this fund | 1.37% | up 0.07 pts | ₹16.2 Cr | up ₹1.2 Cr | Added |
| Hindalco Industries Limited | 1.37% | down 1.06 pts | ₹16.2 Cr | down ₹11.8 Cr | Trimmed |
| ABB India Limited | 1.34% | down 0.08 pts | ₹15.9 Cr | down ₹45 L | Trimmed |
| Canara Robeco Mutual Fund | 1.32% | down 0.07 pts | ₹15.6 Cr | down ₹40 L | Trimmed |
| Gokaldas Exports Limited | 1.30% | up 0.22 pts | ₹15.4 Cr | up ₹3 Cr | Added |
| Swiggy Limited | 1.29% | down 0.21 pts | ₹15.3 Cr | down ₹2 Cr | Trimmed |
| Amber Enterprises India Limited | 1.27% | down 0.12 pts | ₹15.1 Cr | down ₹99 L | Trimmed |
| Time Technoplast Limited | 1.25% | down 0.13 pts | ₹14.8 Cr | down ₹1.1 Cr | Trimmed |
| Power Mech Projects Limited | 1.24% | up 0.09 pts | ₹14.7 Cr | up ₹1.5 Cr | Added |
| Jyoti CNC Automation Ltd | 1.21% | up 0.20 pts | ₹14.4 Cr | up ₹2.7 Cr | Added |
| Blue Star Limited | 1.21% | down 0.15 pts | ₹14.3 Cr | down ₹1.3 Cr | Trimmed |
| Titagarh Rail Systems Limited | 1.20% | up 0.12 pts | ₹14.2 Cr | up ₹1.8 Cr | Added |
| Maruti Suzuki India Limited | 1.19% | up 1.19 pts | ₹14.1 Cr | up ₹14.1 Cr | New |
| Indo Count Industries Limited | 1.16% | up 0.40 pts | ₹13.7 Cr | up ₹5 Cr | Added |
| Prudent Corporate Advisory Services Limited | 1.14% | up 0.03 pts | ₹13.5 Cr | up ₹76 L | Added |
| Mold-Tek Packaging Limited | 1.11% | up 0.21 pts | ₹13.1 Cr | up ₹2.8 Cr | Added |
| FSN E-Commerce Ventures Limited | 1.10% | up 0.41 pts | ₹13.1 Cr | up ₹5.1 Cr | Added |
| Titan Company Limited | 1.08% | down 0.03 pts | ₹12.8 Cr | up ₹5 L | Held |
| Pine Labs Limited | 1.08% | up 0.29 pts | ₹12.8 Cr | up ₹3.7 Cr | Added |
| Gujarat Fluorochemicals Limited | 1.06% | up 0.07 pts | ₹12.5 Cr | up ₹1.1 Cr | Added |
| Sobha Limited | 0.96% | down 0.07 pts | ₹11.3 Cr | down ₹45 L | Trimmed |
| INDIAN HUME PIPE COMPANY LIMITED | 0.93% | down 0.02 pts | ₹11 Cr | up ₹7 L | Added |
| Shadowfax Technologies Limited | 0.93% | up 0.23 pts | ₹10.9 Cr | up ₹2.9 Cr | Added |
What changed, Apr 2026 to Jun 2026
New New positions (5)
- Maruti Suzuki India Limited1.2% · ₹14.1 Cr
- R R Kabel Limited0.6% · ₹7.2 Cr
- Billionbrains Garage Ventures Ltd0.5% · ₹6.2 Cr
- Sterlite Technologies Limited0.5% · ₹6.1 Cr
- JSW Steel Limited0.5% · ₹6.1 Cr
Exited Exited (3)
- Tata Steel Limitedwas 1.3% · ₹14.8 Cr
- Century Textiles & Industries Limitedwas 0.5% · ₹6.3 Cr
- Motherson Sumi Wiring India 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 Apr 2026, the weight rose most in Industrial Products (+1.5 pts) and Automobiles (+1.2 pts), and fell most in Petroleum Products (−2.2 pts) and Non - Ferrous Metals (−1.1 pts).
- Industrial Products4.2% → 5.7%+1.5 pts
- Automobiles1.5% → 2.7%+1.2 pts
- Transport Services2.4% → 3.5%+1.1 pts
- Textiles & Apparels2.3% → 2.9%+0.6 pts
- Telecom - Equipment & Accessories0.0% → 0.5%new+0.5 pts
- Banks14.8% → 15.4%+0.5 pts
- Petroleum Products5.1% → 2.9%−2.2 pts
- Non - Ferrous Metals2.5% → 1.4%−1.1 pts
- Ferrous Metals1.3% → 0.5%−0.8 pts
- Capital Markets11.1% → 10.4%−0.7 pts
- Auto Components1.0% → 0.4%−0.6 pts
- Cement0.6% → 0.0%exited−0.6 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 2023 | Jun 2025 | Jun 2025 | Mar 2026 | Apr 2026 | Jun 2026 |
|---|---|---|---|---|---|---|
| Banks | 24.1% | 14.4% | 14.4% | 16.4% | 14.8% | 15.4% |
| Capital Markets | 0.9% | 10.7% | 10.7% | 9.2% | 11.1% | 10.4% |
| Aerospace & Defense | 2.1% | 4.7% | 4.7% | 7.4% | 8.4% | 8.8% |
| Finance | 4.1% | 5.3% | 5.3% | 6.7% | 7.0% | 7.0% |
| Construction | 14.0% | 10.8% | 10.8% | 6.5% | 6.9% | 6.9% |
| Retailing | 3.2% | 9.2% | 9.2% | 5.4% | 6.2% | 6.1% |
| Industrial Products | 11.9% | 5.5% | 5.5% | 4.2% | 4.2% | 5.7% |
| Consumer Durables | 5.0% | 5.3% | 5.3% | 6.3% | 5.9% | 5.5% |
| Electrical Equipment | 3.7% | 4.8% | 4.8% | 4.1% | 4.3% | 4.4% |
| Industrial Manufacturing | 3.2% | 2.3% | 2.3% | 3.6% | 3.6% | 3.9% |
Allocation in Jun 2026change vs Apr 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. More on reading cash.
Cash & debt, Jun 2026
3.0%
▲ 1.4 pts vs Apr 2026
- Cash alone
- 3.1%
- cash and net receivables
- A year earlier
- 4.1%
- Jun 2025 · now ▼ 1.1 pts
- Last 12 months
- 1.7% – 3.1%
- 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.