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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
₹13,479 Cr
up ₹9.3 Cr vs Jun 2025
- Stocks held
- 65
- down 3 vs Jun 2025
- Top 10 weight
- 54.5%
- of the portfolio in its ten largest
- Cash & debt
- 6.8%
- cash, money market and debt
- Moves this month
- 3 in · 6 out
- added to 10, trimmed 32
ICICI Prudential Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from ICICI Prudential Mutual Fund. In July 2025 it disclosed 65 stocks worth ₹13,479 Cr, up ₹9.3 Cr from Jun 2025. Its largest positions were HDFC Bank Limited (9.7%), ICICI Bank Limited (8.9%), Reliance Industries Limited (7.7%); the ten largest together made up 54.5% of the portfolio, and Banks was the biggest sector at 26.0% of its equity. Cash and debt stood at 6.8%. Compared with Jun 2025 the fund entered 3 new stocks and exited 6.
Against 229 other Sectoral / Thematic funds
Concentration
69%
Top-10 weight is higher than 69% of peers
Breadth
87%
Holds more stocks than 87% of peers
Cash
85%
Holds more cash than 85% of peers
What these mean: concentration · cash
Holdings in July 2025
Download CSVEvery line the fund disclosed, with the change against Jun 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 | 9.72% | up 0.52 pts | ₹1,310 Cr | up ₹71.5 Cr | Added |
| ICICI Bank Limited | 8.91% | up 0.21 pts | ₹1,201 Cr | up ₹28.9 Cr | Added |
| Reliance Industries Limited | 7.68% | up 1.07 pts | ₹1,035 Cr | up ₹145 Cr | Added |
| Larsen & Toubro Limited | 6.89% | up 0.10 pts | ₹928 Cr | up ₹14.3 Cr | Added |
| Cash, TREPS & receivables | 5.65% | up 0.61 pts | ₹762 Cr | up ₹82.7 Cr | Added |
| UltraTech Cement Limited | 4.00% | up 0.05 pts | ₹539 Cr | up ₹6.9 Cr | Added |
| Maruti Suzuki India Limited | 3.95% | up 0.06 pts | ₹532 Cr | up ₹8.8 Cr | Added |
| Axis Bank Limited | 3.71% | down 0.23 pts | ₹500 Cr | down ₹31.3 Cr | Trimmed |
| Cummins India Limited | 3.40% | up 0.15 pts | ₹458 Cr | up ₹20.1 Cr | Added |
| Bharti Airtel Limited | 3.27% | down 0.25 pts | ₹441 Cr | down ₹33.3 Cr | Trimmed |
| Xtrackers Harvest CSI 300 China A-Shares ETF Fund units | 2.94% | up 0.15 pts | ₹397 Cr | up ₹20.8 Cr | Added |
| NTPC Limited | 2.86% | up 0.46 pts | ₹385 Cr | up ₹62.9 Cr | Added |
| Mahindra & Mahindra Limited | 2.72% | up 1.42 pts | ₹366 Cr | up ₹192 Cr | Added |
| Hero MotoCorp Limited | 2.50% | up 0.01 pts | ₹337 Cr | up ₹1.9 Cr | Added |
| DLF Limited | 2.23% | down 0.06 pts | ₹301 Cr | down ₹7.3 Cr | Trimmed |
| HDFC Life Insurance Company Limited | 1.62% | down 0.13 pts | ₹218 Cr | down ₹17 Cr | Trimmed |
| Tata Motors Limited | 1.45% | down 0.05 pts | ₹195 Cr | down ₹6.5 Cr | Trimmed |
| InterGlobe Aviation Limited | 1.44% | down 0.17 pts | ₹195 Cr | down ₹22.7 Cr | Trimmed |
| Asian Paints Limited | 1.41% | up 0.03 pts | ₹190 Cr | up ₹4.4 Cr | Added |
| Vedanta Limited | 1.35% | down 0.11 pts | ₹183 Cr | down ₹15.1 Cr | Trimmed |
| ICICI Prudential Life Insurance Company Limited | 1.27% | down 0.09 pts | ₹171 Cr | down ₹11.7 Cr | Trimmed |
| HDFC Asset Management Company Limited | 1.22% | up 0.10 pts | ₹164 Cr | up ₹13.3 Cr | Added |
| SBI Life Insurance Company Limited | 1.11% | up <0.01 pts | ₹149 Cr | up ₹19 L | Held |
| Prestige Estates Projects Limited | 1.09% | down 0.02 pts | ₹147 Cr | down ₹2.8 Cr | Trimmed |
| Sun Pharmaceutical Industries Limited | 0.85% | down 1.06 pts | ₹115 Cr | down ₹142 Cr | Trimmed |
| Hindalco Industries Limited | 0.82% | down 0.01 pts | ₹111 Cr | down ₹1.6 Cr | Trimmed |
| NHPC Limited | 0.78% | up 0.05 pts | ₹105 Cr | up ₹6.3 Cr | Added |
| Shree Cement Limited | 0.73% | down 0.01 pts | ₹98.1 Cr | down ₹70 L | Trimmed |
| Page Industries Limited | 0.70% | down <0.01 pts | ₹94.4 Cr | down ₹46 L | Held |
| Power Grid Corporation of India Limited | 0.70% | up 0.15 pts | ₹93.7 Cr | up ₹20.9 Cr | Added |
| Bank of Baroda | 0.69% | down 0.03 pts | ₹92.4 Cr | down ₹4.2 Cr | Trimmed |
| Ashok Leyland Limited | 0.61% | down 0.02 pts | ₹82 Cr | down ₹3 Cr | Trimmed |
| SKF India Limited | 0.60% | up 0.03 pts | ₹80.4 Cr | up ₹4.8 Cr | Added |
| Siemens Limited | 0.58% | down 0.05 pts | ₹77.6 Cr | down ₹6.1 Cr | Trimmed |
| Gujarat Pipavav Port Limited | 0.57% | down 0.01 pts | ₹76.3 Cr | down ₹1.6 Cr | Trimmed |
| Indian Energy Exchange Limited | 0.56% | down 0.10 pts | ₹75.2 Cr | down ₹13.9 Cr | Trimmed |
| Ingersoll Rand (India) Limited | 0.55% | down <0.01 pts | ₹73.5 Cr | down ₹21 L | Held |
| Bajaj Auto Limited | 0.54% | down 0.03 pts | ₹72.9 Cr | down ₹3.3 Cr | Trimmed |
| Hyundai Motor India Ltd | 0.51% | down 0.02 pts | ₹68.6 Cr | down ₹2.2 Cr | Trimmed |
| Gujarat Narmada Valley Fertilizers and Chemicals Limited | 0.42% | down 0.01 pts | ₹57.2 Cr | down ₹1.3 Cr | Trimmed |
| Union Bank of India | 0.42% | down 0.17 pts | ₹56.4 Cr | down ₹22.4 Cr | Trimmed |
| Affle (India) Limited | 0.41% | down 0.01 pts | ₹55.3 Cr | down ₹1.1 Cr | Trimmed |
| Birla Corporation Limited | 0.38% | up <0.01 pts | ₹51.4 Cr | up ₹35 L | Added |
| 364 Days Treasury Bills Debt | 0.37% | up <0.01 pts | ₹50 Cr | up ₹23 L | Held |
| 364 Days Treasury Bills Debt | 0.37% | up <0.01 pts | ₹49.8 Cr | up ₹23 L | Held |
| Aarti Industries Limited | 0.34% | down 0.05 pts | ₹46.2 Cr | down ₹6.5 Cr | Trimmed |
| Timken India Limited | 0.33% | down 0.02 pts | ₹44.5 Cr | down ₹2.4 Cr | Trimmed |
| ABB India Limited | 0.31% | down 0.03 pts | ₹42 Cr | down ₹4.4 Cr | Trimmed |
| Atul Limited | 0.29% | up 0.02 pts | ₹39.1 Cr | up ₹3.2 Cr | Added |
| ICICI Lombard General Insurance Company Limited | 0.29% | down 0.64 pts | ₹39 Cr | down ₹86.5 Cr | Trimmed |
What changed, Jun 2025 to Jul 2025
New New positions (3)
- Amara Raja Batteries Limited0.3% · ₹35.1 Cr
- Info Edge (India) Limited0.2% · ₹31.9 Cr
- Tata Power Company Limited0.1% · ₹14.7 Cr
Exited Exited (6)
- Max Financial Services Limitedwas 1.1% · ₹148 Cr
- Siemens Energy India Limitedwas 0.5% · ₹72.6 Cr
- Indiamart Intermesh Limitedwas 0.2% · ₹26.4 Cr
- Aurobindo Pharma Limitedwas 0.2% · ₹24.1 Cr
- Samvardhana Motherson International 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 Jun 2025, the weight rose most in Automobiles (+1.6 pts) and Petroleum Products (+1.2 pts), and fell most in Insurance (−2.1 pts) and Pharmaceuticals & Biotechnology (−1.4 pts).
- Automobiles11.3% → 12.9%+1.6 pts
- Petroleum Products7.3% → 8.5%+1.2 pts
- Power4.0% → 4.9%+0.9 pts
- Banks25.5% → 26.0%+0.4 pts
- Auto Components0.5% → 0.7%+0.2 pts
- Industrial Products5.4% → 5.6%+0.2 pts
- Insurance7.0% → 4.8%−2.1 pts
- Pharmaceuticals & Biotechnology2.5% → 1.1%−1.4 pts
- Electrical Equipment1.7% → 1.0%−0.7 pts
- Telecom - Services3.9% → 3.6%−0.3 pts
- Transport Services1.8% → 1.6%−0.2 pts
- Diversified Metals1.6% → 1.5%−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 | Jan 2025 | Apr 2025 | Jun 2025 | Jul 2025 |
|---|---|---|---|---|
| Banks | 25.7% | 26.9% | 25.5% | 26.0% |
| Automobiles | 10.8% | 10.4% | 11.3% | 12.9% |
| Petroleum Products | 6.3% | 5.9% | 7.3% | 8.5% |
| Construction | 7.9% | 7.5% | 7.5% | 7.6% |
| Cement & Cement Products | 8.2% | 6.8% | 6.4% | 6.3% |
| Industrial Products | 4.3% | 4.7% | 5.4% | 5.6% |
| Power | 4.3% | 4.2% | 4.0% | 4.9% |
| Insurance | 6.8% | 7.1% | 7.0% | 4.8% |
| Realty | 2.0% | 2.0% | 3.8% | 3.7% |
| Telecom - Services | 4.2% | 3.9% | 3.9% | 3.6% |
Allocation in Jul 2025change vs Jun 2025
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, Jul 2025
6.8%
▲ 0.2 pts vs Jun 2025
- Cash alone
- 5.7%
- 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.