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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
₹11,894 Cr
up ₹865 Cr vs Feb 2025
- Stocks held
- 68
- down 8 vs Feb 2025
- Top 10 weight
- 53.1%
- of the portfolio in its ten largest
- Cash & debt
- 9.7%
- cash, money market and debt
- Moves this month
- 0 in · 8 out
- added to 10, trimmed 9
ICICI Prudential Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from ICICI Prudential Mutual Fund. In March 2025 it disclosed 68 stocks worth ₹11,894 Cr, up ₹865 Cr from Feb 2025. Its largest positions were HDFC Bank Limited (9.4%), ICICI Bank Limited (9.2%), Larsen & Toubro Limited (7.1%); the ten largest together made up 53.1% of the portfolio, and Banks was the biggest sector at 26.7% of its equity. Cash and debt stood at 9.7%. Compared with Feb 2025 the fund entered 0 new stocks and exited 8.
Against 229 other Sectoral / Thematic funds
Concentration
66%
Top-10 weight is higher than 66% of peers
Breadth
89%
Holds more stocks than 89% of peers
Cash
93%
Holds more cash than 93% of peers
What these mean: concentration · cash
Holdings in March 2025
Download CSVEvery line the fund disclosed, with the change against Feb 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 | 9.41% | down 0.21 pts | ₹1,119 Cr | up ₹58.6 Cr | Added |
| ICICI Bank Limited | 9.15% | up 0.69 pts | ₹1,089 Cr | up ₹156 Cr | Added |
| Cash, TREPS & receivables | 8.25% | up 0.70 pts | ₹981 Cr | up ₹148 Cr | Added |
| Larsen & Toubro Limited | 7.12% | down 0.34 pts | ₹847 Cr | up ₹23.6 Cr | Added |
| Reliance Industries Limited | 5.76% | up 0.11 pts | ₹685 Cr | up ₹62.5 Cr | Added |
| UltraTech Cement Limited | 4.45% | up 0.23 pts | ₹530 Cr | up ₹63.6 Cr | Added |
| Maruti Suzuki India Limited | 4.08% | down 0.42 pts | ₹486 Cr | down ₹10.5 Cr | Trimmed |
| Axis Bank Limited | 3.47% | up 0.02 pts | ₹413 Cr | up ₹32.4 Cr | Added |
| Bharti Airtel Limited | 3.34% | down 0.48 pts | ₹397 Cr | down ₹23.6 Cr | Trimmed |
| Cummins India Limited | 3.21% | up 0.13 pts | ₹382 Cr | up ₹41.8 Cr | Added |
| Xtrackers Harvest CSI 300 China A-Shares ETF Fund units | 3.05% | down 0.31 pts | ₹363 Cr | down ₹7.6 Cr | Trimmed |
| Hero MotoCorp Limited | 2.48% | down 0.16 pts | ₹295 Cr | up ₹3.3 Cr | Added |
| NTPC Limited | 2.36% | up 0.14 pts | ₹281 Cr | up ₹36.3 Cr | Added |
| Sun Pharmaceutical Industries Limited | 2.26% | up 0.02 pts | ₹268 Cr | up ₹21.9 Cr | Added |
| InterGlobe Aviation Limited | 2.21% | down 0.03 pts | ₹263 Cr | up ₹15.9 Cr | Added |
| HDFC Life Insurance Company Limited | 1.67% | up 0.07 pts | ₹198 Cr | up ₹22.3 Cr | Added |
| DLF Limited | 1.34% | up 0.04 pts | ₹160 Cr | up ₹16 Cr | Added |
| ICICI Prudential Life Insurance Company Limited | 1.32% | down 0.07 pts | ₹157 Cr | up ₹3.5 Cr | Added |
| Tata Motors Limited | 1.12% | up 0.06 pts | ₹133 Cr | up ₹15.8 Cr | Added |
| Siemens Limited | 1.09% | up 0.06 pts | ₹130 Cr | up ₹16 Cr | Added |
| SBI Life Insurance Company Limited | 1.06% | up <0.01 pts | ₹126 Cr | up ₹9.5 Cr | Added |
| Shree Cement Limited | 1.05% | down 0.27 pts | ₹125 Cr | down ₹20.5 Cr | Trimmed |
| Mahindra & Mahindra Limited | 1.01% | up 0.09 pts | ₹121 Cr | up ₹18.7 Cr | Added |
| NHPC Limited | 0.99% | up 0.04 pts | ₹117 Cr | up ₹13.3 Cr | Added |
| HDFC Asset Management Company Limited | 0.98% | up 0.02 pts | ₹117 Cr | up ₹11.2 Cr | Added |
| Vedanta Limited | 0.95% | up 0.08 pts | ₹114 Cr | up ₹16.8 Cr | Added |
| Hindalco Industries Limited | 0.93% | down <0.01 pts | ₹111 Cr | up ₹7.8 Cr | Added |
| ICICI Lombard General Insurance Company Limited | 0.93% | down 0.02 pts | ₹110 Cr | up ₹6.3 Cr | Added |
| Max Financial Services Limited | 0.86% | up 0.05 pts | ₹103 Cr | up ₹13.4 Cr | Added |
| Aurobindo Pharma Limited | 0.78% | up 0.01 pts | ₹93.2 Cr | up ₹8.2 Cr | Added |
| Bank of Baroda | 0.73% | up 0.05 pts | ₹86.7 Cr | up ₹11.9 Cr | Added |
| Affle (India) Limited | 0.68% | up 0.13 pts | ₹80.3 Cr | up ₹20.2 Cr | Added |
| Asian Paints Limited | 0.62% | up 0.02 pts | ₹73.4 Cr | up ₹7.1 Cr | Added |
| Page Industries Limited | 0.60% | up 0.06 pts | ₹71.7 Cr | up ₹12.2 Cr | Added |
| Indian Energy Exchange Limited | 0.59% | up 0.03 pts | ₹70.5 Cr | up ₹8 Cr | Added |
| Power Grid Corporation of India Limited | 0.57% | down 0.01 pts | ₹68.3 Cr | up ₹3.9 Cr | Added |
| Navin Fluorine International Limited | 0.57% | down 0.03 pts | ₹68 Cr | up ₹1.3 Cr | Added |
| Gujarat Pipavav Port Limited | 0.56% | up 0.01 pts | ₹66.6 Cr | up ₹6.3 Cr | Added |
| Union Bank of India | 0.55% | up 0.02 pts | ₹65.1 Cr | up ₹7.3 Cr | Added |
| 91 Days Treasury Bills Debt | 0.44% | down 0.03 pts | ₹52.9 Cr | up ₹29 L | Added |
| Gujarat Narmada Valley Fertilizers and Chemicals Limited | 0.44% | down 0.01 pts | ₹52.5 Cr | up ₹2.9 Cr | Added |
| 364 Days Treasury Bills Debt | 0.42% | up 0.42 pts | ₹49.4 Cr | up ₹49.4 Cr | New |
| Aarti Industries Limited | 0.36% | down 0.01 pts | ₹43 Cr | up ₹1.6 Cr | Added |
| Birla Corporation Limited | 0.34% | up <0.01 pts | ₹40.2 Cr | up ₹3.2 Cr | Added |
| 91 Days Treasury Bills Debt | 0.33% | down 0.02 pts | ₹38.8 Cr | up ₹21 L | Added |
| SKF India Limited | 0.32% | up 0.22 pts | ₹38 Cr | up ₹27 Cr | Added |
| Hyundai Motor India Ltd | 0.31% | down 0.03 pts | ₹37.3 Cr | down ₹49 L | Trimmed |
| Timken India Limited | 0.31% | up 0.01 pts | ₹36.9 Cr | up ₹3.7 Cr | Added |
| Graphite India Limited | 0.30% | up 0.03 pts | ₹35.4 Cr | up ₹6.4 Cr | Added |
| Dalmia Bharat Limited | 0.30% | down <0.01 pts | ₹35.2 Cr | up ₹2.5 Cr | Added |
What changed, Feb 2025 to Mar 2025
New New positions (0)
None.
Exited Exited (8)
- ICICI Securities Limitedwas 0.4% · ₹38.8 Cr
- Zydus Lifesciences Limitedwas 0.1% · ₹6.8 Cr
- Lupin Limitedwas <0.1% · ₹2.3 Cr
- Oil & Natural Gas Corporation Limitedwas <0.1% · ₹2 Cr
- Star Cement Limitedwas <0.1% · ₹1 Cr
- Bharat Petroleum Corporation Limitedwas <0.1% · ₹59 L
- Kotak Mahindra Bank Limitedwas <0.1% · ₹6 L
- Grasim Industries 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 Feb 2025, the weight rose most in Banks (+0.8 pts) and Industrial Products (+0.5 pts), and fell most in Telecom - Services (−0.5 pts) and Automobiles (−0.5 pts).
- Banks26.0% → 26.7%+0.8 pts
- Industrial Products4.5% → 5.0%+0.5 pts
- Power4.3% → 4.5%+0.2 pts
- IT - Services0.6% → 0.8%+0.2 pts
- Petroleum Products6.5% → 6.6%+0.1 pts
- Telecom - Services4.4% → 3.8%−0.5 pts
- Automobiles10.8% → 10.3%−0.5 pts
- Capital Markets2.3% → 1.9%−0.4 pts
- Construction8.5% → 8.2%−0.4 pts
- Pharmaceuticals & Biotechnology3.8% → 3.6%−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 | Feb 2025 | Mar 2025 |
|---|---|---|
| Banks | 26.0% | 26.7% |
| Automobiles | 10.8% | 10.3% |
| Construction | 8.5% | 8.2% |
| Cement & Cement Products | 7.9% | 7.9% |
| Insurance | 6.7% | 6.8% |
| Petroleum Products | 6.5% | 6.6% |
| Industrial Products | 4.5% | 5.0% |
| Power | 4.3% | 4.5% |
| Telecom - Services | 4.4% | 3.8% |
| Pharmaceuticals & Biotechnology | 3.8% | 3.6% |
Allocation in Mar 2025change vs Feb 2025
- Banks (5)26.7%▲ 0.8 pts
- Automobiles (5)10.3%▼ 0.5 pts
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, Mar 2025
9.7%
▲ 0.6 pts vs Feb 2025
- Cash alone
- 8.2%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 7.7% – 9.7%
- lowest to highest · record 9.7% in Mar 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.