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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
₹13,470 Cr
up ₹498 Cr vs May 2025
- Stocks held
- 68
- down 5 vs May 2025
- Top 10 weight
- 52.6%
- of the portfolio in its ten largest
- Cash & debt
- 6.6%
- cash, money market and debt
- Moves this month
- 1 in · 6 out
- added to 10, trimmed 17
ICICI Prudential Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from ICICI Prudential Mutual Fund. In June 2025 it disclosed 68 stocks worth ₹13,470 Cr, up ₹498 Cr from May 2025. Its largest positions were HDFC Bank Limited (9.2%), ICICI Bank Limited (8.7%), Larsen & Toubro Limited (6.8%); the ten largest together made up 52.6% of the portfolio, and Banks was the biggest sector at 25.5% of its equity. Cash and debt stood at 6.6%. Compared with May 2025 the fund entered 1 new stock and exited 6.
Against 229 other Sectoral / Thematic funds
Concentration
65%
Top-10 weight is higher than 65% of peers
Breadth
89%
Holds more stocks than 89% of peers
Cash
82%
Holds more cash than 82% of peers
What these mean: concentration · cash
Holdings in June 2025
Download CSVEvery line the fund disclosed, with the change against May 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 | 9.19% | up 0.02 pts | ₹1,238 Cr | up ₹47.9 Cr | Added |
| ICICI Bank Limited | 8.70% | down 0.29 pts | ₹1,172 Cr | up ₹5.1 Cr | Held |
| Larsen & Toubro Limited | 6.79% | down 0.20 pts | ₹914 Cr | up ₹7.6 Cr | Added |
| Reliance Industries Limited | 6.61% | down 0.10 pts | ₹891 Cr | up ₹20.5 Cr | Added |
| Cash, TREPS & receivables | 5.04% | up 0.64 pts | ₹679 Cr | up ₹108 Cr | Added |
| UltraTech Cement Limited | 3.95% | up 0.10 pts | ₹532 Cr | up ₹32.7 Cr | Added |
| Axis Bank Limited | 3.95% | up 0.07 pts | ₹532 Cr | up ₹29.3 Cr | Added |
| Maruti Suzuki India Limited | 3.89% | down 0.12 pts | ₹524 Cr | up ₹3.4 Cr | Added |
| Bharti Airtel Limited | 3.52% | up 0.14 pts | ₹474 Cr | up ₹36.2 Cr | Added |
| Cummins India Limited | 3.25% | up 0.01 pts | ₹438 Cr | up ₹16.9 Cr | Added |
| Xtrackers Harvest CSI 300 China A-Shares ETF Fund units | 2.79% | up 0.02 pts | ₹376 Cr | up ₹16.3 Cr | Added |
| Hero MotoCorp Limited | 2.49% | down 0.14 pts | ₹336 Cr | down ₹5.7 Cr | Trimmed |
| NTPC Limited | 2.39% | up 0.02 pts | ₹322 Cr | up ₹13.9 Cr | Added |
| DLF Limited | 2.29% | up 0.03 pts | ₹308 Cr | up ₹14.7 Cr | Added |
| Sun Pharmaceutical Industries Limited | 1.91% | down 0.16 pts | ₹257 Cr | down ₹11 Cr | Trimmed |
| HDFC Life Insurance Company Limited | 1.75% | up 0.02 pts | ₹235 Cr | up ₹10.8 Cr | Added |
| InterGlobe Aviation Limited | 1.61% | up 0.17 pts | ₹217 Cr | up ₹29.9 Cr | Added |
| Tata Motors Limited | 1.50% | down 0.13 pts | ₹202 Cr | down ₹9.2 Cr | Trimmed |
| Vedanta Limited | 1.47% | up 0.03 pts | ₹198 Cr | up ₹10.8 Cr | Added |
| Asian Paints Limited | 1.38% | up 0.42 pts | ₹186 Cr | up ₹61.2 Cr | Added |
| ICICI Prudential Life Insurance Company Limited | 1.36% | down 0.06 pts | ₹183 Cr | down ₹1.3 Cr | Trimmed |
| Mahindra & Mahindra Limited | 1.30% | up 0.24 pts | ₹175 Cr | up ₹37.4 Cr | Added |
| HDFC Asset Management Company Limited | 1.12% | up 0.05 pts | ₹151 Cr | up ₹11.9 Cr | Added |
| Prestige Estates Projects Limited | 1.11% | up 0.02 pts | ₹150 Cr | up ₹7.6 Cr | Added |
| SBI Life Insurance Company Limited | 1.11% | down 0.03 pts | ₹149 Cr | up ₹2.1 Cr | Added |
| Max Financial Services Limited | 1.10% | up 0.06 pts | ₹148 Cr | up ₹12.9 Cr | Added |
| ICICI Lombard General Insurance Company Limited | 0.93% | up 0.04 pts | ₹125 Cr | up ₹10.1 Cr | Added |
| Hindalco Industries Limited | 0.83% | up 0.04 pts | ₹112 Cr | up ₹9.6 Cr | Added |
| Shree Cement Limited | 0.73% | up 0.01 pts | ₹98.8 Cr | up ₹4.6 Cr | Added |
| NHPC Limited | 0.73% | down 0.04 pts | ₹98.5 Cr | down ₹1.8 Cr | Trimmed |
| Bank of Baroda | 0.72% | down 0.03 pts | ₹96.7 Cr | down ₹30 L | Held |
| Page Industries Limited | 0.70% | up 0.02 pts | ₹94.9 Cr | up ₹5.8 Cr | Added |
| Indian Energy Exchange Limited | 0.66% | up 0.04 pts | ₹89 Cr | up ₹8.6 Cr | Added |
| Ashok Leyland Limited | 0.63% | up 0.01 pts | ₹84.9 Cr | up ₹5 Cr | Added |
| Siemens Limited | 0.62% | down 0.03 pts | ₹83.7 Cr | down ₹36 L | Held |
| Union Bank of India | 0.58% | up <0.01 pts | ₹78.7 Cr | up ₹3 Cr | Added |
| Gujarat Pipavav Port Limited | 0.58% | down <0.01 pts | ₹77.9 Cr | up ₹2.6 Cr | Added |
| Bajaj Auto Limited | 0.57% | down 0.04 pts | ₹76.2 Cr | down ₹2.1 Cr | Trimmed |
| SKF India Limited | 0.56% | up 0.09 pts | ₹75.6 Cr | up ₹14 Cr | Added |
| Ingersoll Rand (India) Limited | 0.55% | up 0.02 pts | ₹73.7 Cr | up ₹5.8 Cr | Added |
| Power Grid Corporation of India Limited | 0.54% | up 0.01 pts | ₹72.8 Cr | up ₹4.6 Cr | Added |
| Siemens Energy India Limited | 0.54% | up 0.05 pts | ₹72.6 Cr | up ₹8.8 Cr | Added |
| Hyundai Motor India Ltd | 0.53% | up 0.07 pts | ₹70.7 Cr | up ₹11.9 Cr | Added |
| Gujarat Narmada Valley Fertilizers and Chemicals Limited | 0.43% | down <0.01 pts | ₹58.5 Cr | up ₹1.9 Cr | Added |
| Affle (India) Limited | 0.42% | down 0.25 pts | ₹56.4 Cr | down ₹30.2 Cr | Trimmed |
| Aarti Industries Limited | 0.39% | down 0.01 pts | ₹52.7 Cr | up ₹1.1 Cr | Added |
| Birla Corporation Limited | 0.38% | down 0.02 pts | ₹51.1 Cr | down ₹1.2 Cr | Trimmed |
| 91 Days Treasury Bills Debt | 0.37% | down 0.01 pts | ₹50 Cr | up ₹23 L | Held |
| 364 Days Treasury Bills Debt | 0.37% | down 0.01 pts | ₹49.7 Cr | up ₹24 L | Held |
| 364 Days Treasury Bills Debt | 0.37% | up 0.37 pts | ₹49.6 Cr | up ₹49.6 Cr | New |
What changed, May 2025 to Jun 2025
New New positions (1)
- JK Lakshmi Cement Limited0.1% · ₹7.2 Cr
Exited Exited (6)
- Syngene International Limitedwas 0.2% · ₹23.8 Cr
- Kotak Mahindra Bank Limitedwas 0.1% · ₹18.8 Cr
- Torrent Pharmaceuticals Limitedwas 0.1% · ₹15.9 Cr
- The Phoenix Mills Limitedwas 0.1% · ₹7.9 Cr
- Swiggy Limitedwas <0.1% · ₹3.8 Cr
- Sagar Cements Ltd.was <0.1% · ₹1.9 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 May 2025, the weight rose most in Consumer Durables (+0.5 pts) and Cement & Cement Products (+0.2 pts), and fell most in Pharmaceuticals & Biotechnology (−0.5 pts) and IT - Services (−0.3 pts).
- Consumer Durables1.0% → 1.5%+0.5 pts
- Cement & Cement Products6.2% → 6.4%+0.2 pts
- Transport Services1.6% → 1.8%+0.2 pts
- Telecom - Services3.7% → 3.9%+0.2 pts
- Capital Markets1.8% → 2.0%+0.1 pts
- Industrial Products5.3% → 5.4%+0.1 pts
- Pharmaceuticals & Biotechnology3.0% → 2.5%−0.5 pts
- IT - Services0.7% → 0.5%−0.3 pts
- Oil0.4% → 0.2%−0.3 pts
- Healthcare Services0.2% → 0.0%exited−0.2 pts
- Construction7.6% → 7.5%−0.1 pts
- Auto Components0.6% → 0.5%−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 | Mar 2025 | May 2025 | Jun 2025 |
|---|---|---|---|
| Banks | 26.7% | 25.7% | 25.5% |
| Automobiles | 10.3% | 11.3% | 11.3% |
| Construction | 8.2% | 7.6% | 7.5% |
| Petroleum Products | 6.6% | 7.3% | 7.3% |
| Insurance | 6.8% | 6.9% | 7.0% |
| Cement & Cement Products | 7.9% | 6.2% | 6.4% |
| Industrial Products | 5.0% | 5.3% | 5.4% |
| Power | 4.5% | 4.0% | 4.0% |
| Telecom - Services | 3.8% | 3.7% | 3.9% |
| Realty | 2.0% | 3.7% | 3.8% |
Allocation in Jun 2025change vs May 2025
- Banks (5)25.5%▼ 0.1 pts
- Automobiles (6)
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 2025
6.6%
▲ 1.0 pts vs May 2025
- Cash alone
- 5.0%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 5.6% – 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.