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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
₹15,091 Cr
up ₹943 Cr vs Sep 2025
- Stocks held
- 69
- up 4 vs Sep 2025
- Top 10 weight
- 51.2%
- of the portfolio in its ten largest
- Cash & debt
- 9.6%
- cash, money market and debt
- Moves this month
- 6 in · 2 out
- added to 10, trimmed 22
ICICI Prudential Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from ICICI Prudential Mutual Fund. In October 2025 it disclosed 69 stocks worth ₹15,091 Cr, up ₹943 Cr from Sep 2025. Its largest positions were HDFC Bank Limited (9.6%), ICICI Bank Limited (7.5%), Larsen & Toubro Limited (7.1%); the ten largest together made up 51.2% of the portfolio, and Banks was the biggest sector at 25.6% of its equity. Cash and debt stood at 9.6%. Compared with Sep 2025 the fund entered 6 new stocks and exited 2.
Against 229 other Sectoral / Thematic funds
Concentration
61%
Top-10 weight is higher than 61% of peers
Breadth
91%
Holds more stocks than 91% of peers
Cash
93%
Holds more cash than 93% of peers
What these mean: concentration · cash
Holdings in October 2025
Download CSVEvery line the fund disclosed, with the change against Sep 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% | down 0.16 pts | ₹1,451 Cr | up ₹67.6 Cr | Added |
| Cash, TREPS & receivables | 8.80% | up 1.12 pts | ₹1,328 Cr | up ₹241 Cr | Added |
| ICICI Bank Limited | 7.54% | down 0.19 pts | ₹1,137 Cr | up ₹44 Cr | Added |
| Larsen & Toubro Limited | 7.10% | up 0.23 pts | ₹1,071 Cr | up ₹98.8 Cr | Added |
| Reliance Industries Limited | 6.25% | up 0.13 pts | ₹943 Cr | up ₹77.6 Cr | Added |
| Axis Bank Limited | 4.24% | up 0.09 pts | ₹640 Cr | up ₹52.6 Cr | Added |
| Maruti Suzuki India Limited | 3.83% | down 0.22 pts | ₹578 Cr | up ₹5.6 Cr | Added |
| Cummins India Limited | 3.20% | down 0.08 pts | ₹483 Cr | up ₹18.8 Cr | Added |
| UltraTech Cement Limited | 3.18% | down 0.29 pts | ₹479 Cr | down ₹11 Cr | Trimmed |
| Bharti Airtel Limited | 3.13% | up 0.06 pts | ₹472 Cr | up ₹37.3 Cr | Added |
| Xtrackers Harvest CSI 300 China A-Shares ETF Fund units | 3.10% | down 0.20 pts | ₹468 Cr | up ₹77 L | Held |
| NTPC Limited | 3.02% | down 0.04 pts | ₹456 Cr | up ₹22.5 Cr | Added |
| Hero MotoCorp Limited | 2.63% | down 0.20 pts | ₹397 Cr | down ₹2.9 Cr | Trimmed |
| DLF Limited | 2.62% | up 0.77 pts | ₹396 Cr | up ₹133 Cr | Added |
| Asian Paints Limited | 2.03% | up 0.03 pts | ₹307 Cr | up ₹23.2 Cr | Added |
| HDFC Life Insurance Company Limited | 1.76% | down 0.18 pts | ₹265 Cr | down ₹8.9 Cr | Trimmed |
| SBI Life Insurance Company Limited | 1.76% | up 0.08 pts | ₹265 Cr | up ₹27.6 Cr | Added |
| Mahindra & Mahindra Limited | 1.76% | down 0.57 pts | ₹265 Cr | down ₹63.4 Cr | Trimmed |
| Oil & Natural Gas Corporation Limited | 1.67% | up 0.04 pts | ₹253 Cr | up ₹21.9 Cr | Added |
| Vedanta Limited | 1.60% | up 0.17 pts | ₹241 Cr | up ₹39 Cr | Added |
| InterGlobe Aviation Limited | 1.27% | down 0.08 pts | ₹192 Cr | up ₹1 Cr | Added |
| ICICI Prudential Life Insurance Company Limited | 1.09% | down 0.08 pts | ₹164 Cr | down ₹1.1 Cr | Trimmed |
| Prestige Estates Projects Limited | 1.04% | up 0.08 pts | ₹158 Cr | up ₹21.2 Cr | Added |
| Page Industries Limited | 1.00% | up 0.15 pts | ₹151 Cr | up ₹30.7 Cr | Added |
| Bank of Baroda | 0.72% | up 0.01 pts | ₹108 Cr | up ₹7.7 Cr | Added |
| NHPC Limited | 0.71% | down 0.06 pts | ₹107 Cr | down ₹1.9 Cr | Trimmed |
| HDFC Asset Management Company Limited | 0.68% | down 0.22 pts | ₹103 Cr | down ₹24.1 Cr | Trimmed |
| Ashok Leyland Limited | 0.68% | down <0.01 pts | ₹103 Cr | up ₹6.3 Cr | Added |
| Gujarat Pipavav Port Limited | 0.64% | up 0.10 pts | ₹96.9 Cr | up ₹20.6 Cr | Added |
| PI Industries Limited | 0.64% | up 0.14 pts | ₹96.5 Cr | up ₹25.4 Cr | Added |
| ABB India Limited | 0.63% | up 0.11 pts | ₹94.6 Cr | up ₹21.2 Cr | Added |
| Power Grid Corporation of India Limited | 0.62% | down 0.02 pts | ₹92.8 Cr | up ₹2.5 Cr | Added |
| Info Edge (India) Limited | 0.59% | up 0.02 pts | ₹89.3 Cr | up ₹8.9 Cr | Added |
| Indian Energy Exchange Limited | 0.56% | down 0.04 pts | ₹84.2 Cr | down ₹8 L | Held |
| Timken India Limited | 0.54% | up 0.25 pts | ₹81.5 Cr | up ₹41.1 Cr | Added |
| Siemens Limited | 0.54% | down 0.03 pts | ₹81 Cr | up ₹95 L | Added |
| Bajaj Auto Limited | 0.54% | down 0.02 pts | ₹80.9 Cr | up ₹1.9 Cr | Added |
| Hyundai Motor India Ltd | 0.52% | down 0.06 pts | ₹78.9 Cr | down ₹3.4 Cr | Trimmed |
| Hindalco Industries Limited | 0.52% | down 0.25 pts | ₹78.3 Cr | down ₹30.6 Cr | Trimmed |
| Ingersoll Rand (India) Limited | 0.48% | down 0.05 pts | ₹72.7 Cr | down ₹2.2 Cr | Trimmed |
| 3M India Limited | 0.48% | up 0.11 pts | ₹72.4 Cr | up ₹20.7 Cr | Added |
| 364 Days Tbill (MD Debt | 0.46% | down 0.03 pts | ₹69.9 Cr | up ₹32 L | Held |
| SKF India (Industrial) Ltd | 0.40% | up 0.40 pts | ₹60.4 Cr | up ₹60.4 Cr | New |
| Atul Limited | 0.38% | down 0.05 pts | ₹56.7 Cr | down ₹2.9 Cr | Trimmed |
| Gujarat Narmada Valley Fertilizers and Chemicals Limited | 0.35% | down 0.01 pts | ₹53.2 Cr | up ₹1.3 Cr | Added |
| 91 Days Treasury Bills Debt | 0.33% | down 0.02 pts | ₹49.9 Cr | up ₹23 L | Held |
| SKF India Limited | 0.32% | down 0.43 pts | ₹47.7 Cr | down ₹57.4 Cr | Trimmed |
| Sundaram Clayton Limited | 0.30% | up 0.03 pts | ₹46 Cr | up ₹7.3 Cr | Added |
| Aarti Industries Limited | 0.28% | down 0.01 pts | ₹41.8 Cr | up ₹56 L | Added |
| Triveni Turbine Limited | 0.28% | down 0.01 pts | ₹41.8 Cr | up ₹1.3 Cr | Added |
What changed, Sep 2025 to Oct 2025
New New positions (6)
- SKF India (Industrial) Ltd0.4% · ₹60.4 Cr
- LIC Housing Finance Limited0.2% · ₹36.6 Cr
- Can Fin Homes Limited0.1% · ₹18.7 Cr
- Tata Motors Ltd0.1% · ₹11.8 Cr
- Indiamart Intermesh Limited<0.1% · ₹5.2 Cr
- Camlin Fine Sciences Ltd.<0.1% · ₹98 L
Exited Exited (2)
- Navin Fluorine International Limitedwas 0.2% · ₹26.7 Cr
- Graphite India Limitedwas 0.1% · ₹9.3 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 Sep 2025, the weight rose most in Realty (+1.0 pts) and Finance (+0.4 pts), and fell most in Automobiles (−1.3 pts) and Cement & Cement Products (−0.4 pts).
- Realty3.2% → 4.2%+1.0 pts
- Finance0.0% → 0.4%new+0.4 pts
- Construction7.8% → 8.1%+0.3 pts
- Diversified Metals1.6% → 1.8%+0.2 pts
- Textiles & Apparels1.0% → 1.1%+0.2 pts
- Petroleum Products7.6% → 7.7%+0.2 pts
- Automobiles12.0% → 10.8%−1.3 pts
- Cement & Cement Products4.5% → 4.1%−0.4 pts
- Chemicals & Petrochemicals1.4% → 1.2%−0.3 pts
- Non - Ferrous Metals0.9% → 0.6%−0.3 pts
- Banks25.9% → 25.6%−0.3 pts
- Capital Markets1.9% → 1.7%−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 | Apr 2025 | Jul 2025 | Sep 2025 | Oct 2025 |
|---|---|---|---|---|
| Banks | 26.9% | 26.0% | 25.9% | 25.6% |
| Automobiles | 10.4% | 12.9% | 12.0% | 10.8% |
| Construction | 7.5% | 7.6% | 7.8% | 8.1% |
| Petroleum Products | 5.9% | 8.5% | 7.6% | 7.7% |
| Industrial Products | 4.7% | 5.6% | 5.7% | 5.8% |
| Insurance | 7.1% | 4.8% | 5.5% | 5.4% |
| Power | 4.2% | 4.9% | 5.2% | 5.1% |
| Realty | 2.0% | 3.7% | 3.2% | 4.2% |
| Cement & Cement Products | 6.8% | 6.3% | 4.5% | 4.1% |
| Telecom - Services | 3.9% | 3.6% | 3.5% | 3.6% |
Allocation in Oct 2025change vs Sep 2025
- Banks (5)25.6%
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, Oct 2025
9.6%
▲ 0.9 pts vs Sep 2025
- Cash alone
- 8.8%
- 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.