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Sectoral / Thematic · ICICI Prudential Mutual Fund · AMFI code 148653ICICI Prudential Business Cycle Fund
Disclosed for 20 months, Jan 2025 to Aug 2026.
Portfolio value
₹11,029 Cr
down ₹588 Cr vs Jan 2025
- Stocks held
- 76
- up 2 vs Jan 2025
- Top 10 weight
- 53.6%
- of the portfolio in its ten largest
- Cash & debt
- 9.1%
- cash, money market and debt
- Moves this month
- 2 in · 0 out
- added to 10, trimmed 59
ICICI Prudential Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from ICICI Prudential Mutual Fund. In February 2025 it disclosed 76 stocks worth ₹11,029 Cr, down ₹588 Cr from Jan 2025. Its largest positions were HDFC Bank Limited (9.6%), ICICI Bank Limited (8.5%), Larsen & Toubro Limited (7.5%); the ten largest together made up 53.6% of the portfolio, and Banks was the biggest sector at 26.0% of its equity. Cash and debt stood at 9.1%. Compared with Jan 2025 the fund entered 2 new stocks and exited 0.
Against 229 other Sectoral / Thematic funds
Concentration
67%
Top-10 weight is higher than 67% of peers
Breadth
94%
Holds more stocks than 94% of peers
Cash
92%
Holds more cash than 92% of peers
What these mean: concentration · cash
Holdings in February 2025
Download CSVEvery line the fund disclosed, with the change against Jan 2025. Click a column to sort; click a company to see every fund that owns it. New to these? How to read a portfolio.
| HDFC Bank Limited | 9.61% | up 0.71 pts | ₹1,060 Cr | up ₹26.4 Cr | Added |
| ICICI Bank Limited | 8.46% | up 0.10 pts | ₹933 Cr | down ₹37.7 Cr | Trimmed |
| Cash, TREPS & receivables | 7.55% | up 1.78 pts | ₹833 Cr | up ₹162 Cr | Added |
| Larsen & Toubro Limited | 7.46% | up 0.43 pts | ₹823 Cr | up ₹5.6 Cr | Added |
| Reliance Industries Limited | 5.64% | up 0.07 pts | ₹623 Cr | down ₹25.2 Cr | Trimmed |
| Maruti Suzuki India Limited | 4.50% | down 0.50 pts | ₹496 Cr | down ₹84 Cr | Trimmed |
| UltraTech Cement Limited | 4.23% | down 0.30 pts | ₹466 Cr | down ₹59.3 Cr | Trimmed |
| Bharti Airtel Limited | 3.81% | up 0.06 pts | ₹420 Cr | down ₹15 Cr | Trimmed |
| Axis Bank Limited | 3.45% | up 0.35 pts | ₹381 Cr | up ₹19.9 Cr | Added |
| Xtrackers Harvest CSI 300 China A-Shares ETF Fund units | 3.36% | up 0.26 pts | ₹371 Cr | up ₹10.9 Cr | Added |
| Cummins India Limited | 3.09% | up 0.15 pts | ₹340 Cr | down ₹43 L | Held |
| Hero MotoCorp Limited | 2.64% | up 0.10 pts | ₹292 Cr | down ₹4.1 Cr | Trimmed |
| InterGlobe Aviation Limited | 2.24% | up 0.19 pts | ₹247 Cr | up ₹8.4 Cr | Added |
| Sun Pharmaceutical Industries Limited | 2.24% | up 0.06 pts | ₹247 Cr | down ₹6.2 Cr | Trimmed |
| NTPC Limited | 2.22% | up 0.03 pts | ₹245 Cr | down ₹9.9 Cr | Trimmed |
| HDFC Life Insurance Company Limited | 1.59% | up 0.01 pts | ₹176 Cr | down ₹8.5 Cr | Trimmed |
| ICICI Prudential Life Insurance Company Limited | 1.39% | down 0.08 pts | ₹153 Cr | down ₹17.9 Cr | Trimmed |
| Shree Cement Limited | 1.32% | up 0.04 pts | ₹146 Cr | down ₹2.7 Cr | Trimmed |
| DLF Limited | 1.30% | down 0.09 pts | ₹144 Cr | down ₹18.3 Cr | Trimmed |
| Tata Motors Limited | 1.06% | down 0.10 pts | ₹117 Cr | down ₹18.1 Cr | Trimmed |
| SBI Life Insurance Company Limited | 1.05% | up 0.02 pts | ₹116 Cr | down ₹4.3 Cr | Trimmed |
| Siemens Limited | 1.03% | up 0.07 pts | ₹114 Cr | up ₹1.7 Cr | Added |
| HDFC Asset Management Company Limited | 0.96% | down 0.01 pts | ₹105 Cr | down ₹7 Cr | Trimmed |
| NHPC Limited | 0.94% | up 0.01 pts | ₹104 Cr | down ₹4.2 Cr | Trimmed |
| ICICI Lombard General Insurance Company Limited | 0.94% | down 0.04 pts | ₹104 Cr | down ₹10.3 Cr | Trimmed |
| Hindalco Industries Limited | 0.93% | up 0.10 pts | ₹103 Cr | up ₹6.5 Cr | Added |
| Mahindra & Mahindra Limited | 0.92% | up 0.31 pts | ₹102 Cr | up ₹30.8 Cr | Added |
| Vedanta Limited | 0.88% | down 0.05 pts | ₹96.7 Cr | down ₹11.4 Cr | Trimmed |
| Max Financial Services Limited | 0.81% | down 0.05 pts | ₹89.4 Cr | down ₹10.5 Cr | Trimmed |
| Aurobindo Pharma Limited | 0.77% | down 0.04 pts | ₹85 Cr | down ₹9.1 Cr | Trimmed |
| Bank of Baroda | 0.68% | down 0.02 pts | ₹74.8 Cr | down ₹6.2 Cr | Trimmed |
| Navin Fluorine International Limited | 0.60% | down 0.03 pts | ₹66.7 Cr | down ₹6.9 Cr | Trimmed |
| Asian Paints Limited | 0.60% | down <0.01 pts | ₹66.2 Cr | down ₹3.7 Cr | Trimmed |
| Power Grid Corporation of India Limited | 0.58% | down 0.08 pts | ₹64.5 Cr | down ₹13.1 Cr | Trimmed |
| Indian Energy Exchange Limited | 0.57% | down 0.04 pts | ₹62.5 Cr | down ₹7.5 Cr | Trimmed |
| Gujarat Pipavav Port Limited | 0.55% | down 0.08 pts | ₹60.3 Cr | down ₹12.9 Cr | Trimmed |
| Affle (India) Limited | 0.54% | up 0.02 pts | ₹60.1 Cr | down ₹57 L | Trimmed |
| Page Industries Limited | 0.54% | up 0.04 pts | ₹59.6 Cr | up ₹1.9 Cr | Added |
| Union Bank of India | 0.52% | up 0.01 pts | ₹57.8 Cr | down ₹1.7 Cr | Trimmed |
| 91 Days Treasury Bills Debt | 0.48% | up 0.03 pts | ₹52.6 Cr | up ₹26 L | Added |
| 91 Days Treasury Bills Debt | 0.46% | up 0.03 pts | ₹50.8 Cr | up ₹25 L | Held |
| Gujarat Narmada Valley Fertilizers and Chemicals Limited | 0.45% | down 0.06 pts | ₹49.6 Cr | down ₹9 Cr | Trimmed |
| Aarti Industries Limited | 0.37% | down 0.05 pts | ₹41.3 Cr | down ₹7.6 Cr | Trimmed |
| ICICI Securities Limited | 0.35% | up 0.01 pts | ₹38.8 Cr | down ₹1.3 Cr | Trimmed |
| 91 Days Treasury Bills Debt | 0.35% | up 0.14 pts | ₹38.6 Cr | up ₹14 Cr | Added |
| Hyundai Motor India Ltd | 0.34% | up 0.03 pts | ₹37.8 Cr | up ₹1.1 Cr | Added |
| Birla Corporation Limited | 0.34% | down 0.05 pts | ₹37 Cr | down ₹7.4 Cr | Trimmed |
| Schaeffler India Limited | 0.32% | up 0.03 pts | ₹35.4 Cr | up ₹1.2 Cr | Added |
| Timken India Limited | 0.30% | down 0.03 pts | ₹33.2 Cr | down ₹5.1 Cr | Trimmed |
| Dalmia Bharat Limited | 0.30% | down 0.01 pts | ₹32.6 Cr | down ₹3.4 Cr | Trimmed |
What changed, Jan 2025 to Feb 2025
New New positions (2)
- SKF India Limited0.1% · ₹11 Cr
- The India Cements Limited<0.1% · ₹5.1 Cr
Exited Exited (0)
None.
Added Biggest additions
- Mahindra & Mahindra Limitedup ₹30.8 Cr (+0.31% pts)
- HDFC Bank Limitedup ₹26.4 Cr (+0.71% pts)
- Axis Bank Limitedup ₹19.9 Cr (+0.35% pts)
- Ashok Leyland 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 Jan 2025, the weight rose most in Construction (+0.6 pts) and Banks (+0.3 pts), and fell most in Pharmaceuticals & Biotechnology (−1.6 pts) and Cement & Cement Products (−0.2 pts).
- Construction7.9% → 8.5%+0.6 pts
- Banks25.7% → 26.0%+0.3 pts
- Industrial Products4.3% → 4.5%+0.3 pts
- Transport Services2.3% → 2.6%+0.3 pts
- Petroleum Products6.3% → 6.5%+0.2 pts
- Telecom - Services4.2% → 4.4%+0.2 pts
- Pharmaceuticals & Biotechnology5.4% → 3.8%−1.6 pts
- Cement & Cement Products8.2% → 7.9%−0.2 pts
- Chemicals & Petrochemicals2.0% → 1.9%−0.1 pts
- Retailing0.4% → 0.3%−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 | Jan 2025 | Feb 2025 |
|---|---|---|
| Banks | 25.7% | 26.0% |
| Automobiles | 10.8% | 10.8% |
| Construction | 7.9% | 8.5% |
| Cement & Cement Products | 8.2% | 7.9% |
| Insurance | 6.8% | 6.7% |
| Petroleum Products | 6.3% | 6.5% |
| Industrial Products | 4.3% | 4.5% |
| Telecom - Services | 4.2% | 4.4% |
| Power | 4.3% | 4.3% |
| Pharmaceuticals & Biotechnology | 5.4% | 3.8% |
Allocation in Feb 2025change vs Jan 2025
- Banks (6)26.0%▲ 0.3 pts
- Automobiles (5)10.8%
- Construction (1)
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, Feb 2025
9.1%
▲ 1.4 pts vs Jan 2025
- Cash alone
- 7.6%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 7.7% – 9.1%
- lowest to highest · record 9.1% in Feb 2025
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.