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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
₹13,643 Cr
up ₹164 Cr vs Jul 2025
- Stocks held
- 67
- up 2 vs Jul 2025
- Top 10 weight
- 53.7%
- of the portfolio in its ten largest
- Cash & debt
- 8.3%
- cash, money market and debt
- Moves this month
- 5 in · 3 out
- added to 10, trimmed 39
ICICI Prudential Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from ICICI Prudential Mutual Fund. In August 2025 it disclosed 67 stocks worth ₹13,643 Cr, up ₹164 Cr from Jul 2025. Its largest positions were HDFC Bank Limited (9.5%), ICICI Bank Limited (8.3%), Reliance Industries Limited (7.5%); the ten largest together made up 53.7% of the portfolio, and Banks was the biggest sector at 25.6% of its equity. Cash and debt stood at 8.3%. Compared with Jul 2025 the fund entered 5 new stocks and exited 3.
Against 229 other Sectoral / Thematic funds
Concentration
67%
Top-10 weight is higher than 67% of peers
Breadth
88%
Holds more stocks than 88% of peers
Cash
88%
Holds more cash than 88% of peers
What these mean: concentration · cash
Holdings in August 2025
Download CSVEvery line the fund disclosed, with the change against Jul 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 | 9.49% | down 0.23 pts | ₹1,294 Cr | down ₹15.4 Cr | Trimmed |
| ICICI Bank Limited | 8.31% | down 0.60 pts | ₹1,134 Cr | down ₹67.8 Cr | Trimmed |
| Reliance Industries Limited | 7.55% | down 0.13 pts | ₹1,030 Cr | down ₹5.7 Cr | Trimmed |
| Cash, TREPS & receivables | 7.20% | up 1.55 pts | ₹983 Cr | up ₹221 Cr | Added |
| Larsen & Toubro Limited | 6.86% | down 0.02 pts | ₹936 Cr | up ₹8.1 Cr | Added |
| Maruti Suzuki India Limited | 4.27% | up 0.32 pts | ₹583 Cr | up ₹50.4 Cr | Added |
| Axis Bank Limited | 3.74% | up 0.03 pts | ₹510 Cr | up ₹10 Cr | Added |
| UltraTech Cement Limited | 3.72% | down 0.28 pts | ₹507 Cr | down ₹31.6 Cr | Trimmed |
| Cummins India Limited | 3.32% | down 0.08 pts | ₹453 Cr | down ₹5.5 Cr | Trimmed |
| Xtrackers Harvest CSI 300 China A-Shares ETF Fund units | 3.28% | up 0.34 pts | ₹448 Cr | up ₹51.1 Cr | Added |
| Bharti Airtel Limited | 3.21% | down 0.06 pts | ₹437 Cr | down ₹3.3 Cr | Trimmed |
| Hero MotoCorp Limited | 2.83% | up 0.32 pts | ₹386 Cr | up ₹48.1 Cr | Added |
| NTPC Limited | 2.77% | down 0.09 pts | ₹378 Cr | down ₹7.7 Cr | Trimmed |
| Mahindra & Mahindra Limited | 2.72% | down <0.01 pts | ₹371 Cr | up ₹4.4 Cr | Added |
| DLF Limited | 1.99% | down 0.24 pts | ₹272 Cr | down ₹29.1 Cr | Trimmed |
| HDFC Life Insurance Company Limited | 1.63% | up 0.02 pts | ₹223 Cr | up ₹4.8 Cr | Added |
| Asian Paints Limited | 1.46% | up 0.05 pts | ₹200 Cr | up ₹9.7 Cr | Added |
| InterGlobe Aviation Limited | 1.41% | down 0.03 pts | ₹192 Cr | down ₹2.3 Cr | Trimmed |
| Vedanta Limited | 1.32% | down 0.03 pts | ₹180 Cr | down ₹2.1 Cr | Trimmed |
| ICICI Prudential Life Insurance Company Limited | 1.22% | down 0.05 pts | ₹167 Cr | down ₹4.5 Cr | Trimmed |
| HDFC Asset Management Company Limited | 1.15% | down 0.06 pts | ₹158 Cr | down ₹6.7 Cr | Trimmed |
| SBI Life Insurance Company Limited | 1.07% | down 0.03 pts | ₹147 Cr | down ₹2.9 Cr | Trimmed |
| Prestige Estates Projects Limited | 1.03% | down 0.06 pts | ₹141 Cr | down ₹5.8 Cr | Trimmed |
| Hindalco Industries Limited | 0.84% | up 0.01 pts | ₹114 Cr | up ₹3.4 Cr | Added |
| Page Industries Limited | 0.82% | up 0.12 pts | ₹111 Cr | up ₹16.9 Cr | Added |
| Sun Pharmaceutical Industries Limited | 0.79% | down 0.07 pts | ₹107 Cr | down ₹7.5 Cr | Trimmed |
| SKF India Limited | 0.73% | up 0.13 pts | ₹99 Cr | up ₹18.6 Cr | Added |
| NHPC Limited | 0.71% | down 0.06 pts | ₹97.2 Cr | down ₹7.6 Cr | Trimmed |
| Bank of Baroda | 0.66% | down 0.02 pts | ₹90.5 Cr | down ₹2 Cr | Trimmed |
| Power Grid Corporation of India Limited | 0.65% | down 0.05 pts | ₹88.7 Cr | down ₹5.1 Cr | Trimmed |
| Ashok Leyland Limited | 0.63% | up 0.02 pts | ₹86 Cr | up ₹4 Cr | Added |
| Indian Energy Exchange Limited | 0.62% | up 0.06 pts | ₹84.6 Cr | up ₹9.5 Cr | Added |
| Shree Cement Limited | 0.60% | down 0.13 pts | ₹81.2 Cr | down ₹16.9 Cr | Trimmed |
| Bajaj Auto Limited | 0.58% | up 0.04 pts | ₹78.5 Cr | up ₹5.7 Cr | Added |
| Hyundai Motor India Ltd | 0.57% | up 0.07 pts | ₹78.4 Cr | up ₹9.8 Cr | Added |
| Siemens Limited | 0.57% | down <0.01 pts | ₹78.3 Cr | up ₹77 L | Added |
| Ingersoll Rand (India) Limited | 0.53% | down 0.01 pts | ₹72.4 Cr | down ₹1.1 Cr | Trimmed |
| Gujarat Pipavav Port Limited | 0.53% | down 0.04 pts | ₹71.9 Cr | down ₹4.4 Cr | Trimmed |
| 182 Days Treasury Bills Debt | 0.51% | up 0.29 pts | ₹69.8 Cr | up ₹40 Cr | Added |
| Info Edge (India) Limited | 0.46% | up 0.23 pts | ₹63.3 Cr | up ₹31.4 Cr | Added |
| ABB India Limited | 0.46% | up 0.15 pts | ₹62.4 Cr | up ₹20.4 Cr | Added |
| Atul Limited | 0.45% | up 0.16 pts | ₹61.7 Cr | up ₹22.6 Cr | Added |
| Gujarat Narmada Valley Fertilizers and Chemicals Limited | 0.41% | down 0.02 pts | ₹55.3 Cr | down ₹1.9 Cr | Trimmed |
| Affle (India) Limited | 0.39% | down 0.02 pts | ₹53.9 Cr | down ₹1.4 Cr | Trimmed |
| Union Bank of India | 0.39% | down 0.02 pts | ₹53.7 Cr | down ₹2.6 Cr | Trimmed |
| 91 Days Treasury Bills Debt | 0.36% | up 0.36 pts | ₹49.5 Cr | up ₹49.5 Cr | New |
| Oil & Natural Gas Corporation Limited | 0.35% | up 0.25 pts | ₹47.5 Cr | up ₹34.7 Cr | Added |
| Aarti Industries Limited | 0.30% | down 0.04 pts | ₹41.4 Cr | down ₹4.8 Cr | Trimmed |
| Timken India Limited | 0.28% | down 0.05 pts | ₹38.7 Cr | down ₹5.8 Cr | Trimmed |
| Tata Motors Limited | 0.27% | down 1.18 pts | ₹37.2 Cr | down ₹158 Cr | Trimmed |
What changed, Jul 2025 to Aug 2025
New New positions (5)
- Indian Oil Corporation Limited0.2% · ₹31.3 Cr
- Triveni Turbine Limited0.2% · ₹28.3 Cr
- Bharat Petroleum Corporation Limited0.1% · ₹20 Cr
- Automotive Axles Limited0.1% · ₹19.6 Cr
- Hindustan Petroleum Corporation Limited0.1% · ₹19.5 Cr
Exited Exited (3)
- ICICI Lombard General Insurance Company Limitedwas 0.3% · ₹39 Cr
- JK Cement Limitedwas 0.2% · ₹21.8 Cr
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 Jul 2025, the weight rose most in Petroleum Products (+0.6 pts) and Oil (+0.4 pts), and fell most in Cement & Cement Products (−0.8 pts) and Banks (−0.4 pts).
- Petroleum Products8.5% → 9.1%+0.6 pts
- Oil0.2% → 0.6%+0.4 pts
- Electrical Equipment1.0% → 1.4%+0.4 pts
- Retailing0.3% → 0.5%+0.3 pts
- Auto Ancillaries0.3% → 0.5%+0.2 pts
- Textiles & Apparels0.8% → 0.9%+0.1 pts
- Cement & Cement Products6.3% → 5.5%−0.8 pts
- Banks26.0% → 25.6%−0.4 pts
- Insurance4.8% → 4.5%−0.3 pts
- Realty3.7% → 3.4%−0.3 pts
- Automobiles12.9% → 12.7%−0.2 pts
- Power4.9% → 4.8%−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 | Feb 2025 | May 2025 | Jul 2025 | Aug 2025 |
|---|---|---|---|---|
| Banks | 26.0% | 25.7% | 26.0% | 25.6% |
| Automobiles | 10.8% | 11.3% | 12.9% | 12.7% |
| Petroleum Products | 6.5% | 7.3% | 8.5% | 9.1% |
| Construction | 8.5% | 7.6% | 7.6% | 7.8% |
| Industrial Products | 4.5% | 5.3% | 5.6% | 5.6% |
| Cement & Cement Products | 7.9% | 6.2% | 6.3% | 5.5% |
| Power | 4.3% | 4.0% | 4.9% | 4.8% |
| Insurance | 6.7% | 6.9% | 4.8% | 4.5% |
| Telecom - Services | 4.4% | 3.7% | 3.6% | 3.6% |
| Realty | 2.0% | 3.7% | 3.7% | 3.4% |
Allocation in Aug 2025change vs Jul 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, Aug 2025
8.3%
▲ 1.5 pts vs Jul 2025
- Cash alone
- 7.2%
- 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.