Loading…
Sectoral / Thematic · ICICI Prudential Mutual Fund · AMFI code 148653ICICI Prudential Business Cycle Fund
Disclosed for 20 months, Jan 2025 to Aug 2026.
Portfolio value
₹15,813 Cr
up ₹1,454 Cr vs Mar 2026
- Stocks held
- 74
- down 3 vs Mar 2026
- Top 10 weight
- 49.4%
- of the portfolio in its ten largest
- Cash & debt
- 3.5%
- cash, money market and debt
- Moves this month
- 2 in · 5 out
ICICI Prudential Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from ICICI Prudential Mutual Fund. In April 2026 it disclosed 74 stocks worth ₹15,813 Cr, up ₹1,454 Cr from Mar 2026. Its largest positions were HDFC Bank Limited (9.3%), ICICI Bank Limited (7.2%), Larsen & Toubro Limited (7.1%); the ten largest together made up 49.4% of the portfolio, and Banks was the biggest sector at 24.7% of its equity. Cash and debt stood at 3.5%. Compared with Mar 2026 the fund entered 2 new stocks and exited 5.
Against 229 other Sectoral / Thematic funds
Concentration
57%
Top-10 weight is higher than 57% of peers
Breadth
94%
Holds more stocks than 94% of peers
Cash
52%
Holds more cash than 52% of peers
What these mean: concentration · cash
Holdings in April 2026
Download CSVEvery line the fund disclosed, with the change against Mar 2026. 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 | 9.35% | down 0.08 pts | ₹1,478 Cr | up ₹124 Cr | Added |
| ICICI Bank Limited | 7.20% | down 0.37 pts | ₹1,138 Cr | up ₹51.8 Cr | Added |
| Larsen & Toubro Limited | 7.05% | up 0.13 pts | ₹1,115 Cr | up ₹121 Cr | Added |
| Reliance Industries Limited | 5.77% | up <0.01 pts | ₹912 Cr | up ₹84.3 Cr | Added |
| Maruti Suzuki India Limited | 4.05% | up 0.37 pts | ₹640 Cr | up ₹112 Cr | Added |
| Axis Bank Limited | 3.35% | down 0.85 pts | ₹530 Cr | down ₹72.8 Cr | Trimmed |
| UltraTech Cement Limited | 3.20% | up 0.03 pts | ₹507 Cr | up ₹51 Cr | Added |
| Bharti Airtel Limited | 3.15% | up 0.18 pts | ₹499 Cr | up ₹71.3 Cr | Added |
| NTPC Limited | 3.14% | down 0.60 pts | ₹496 Cr | down ₹40.5 Cr | Trimmed |
| Kotak Mahindra Bank Limited | 3.10% | up 1.15 pts | ₹490 Cr | up ₹210 Cr | Added |
| Xtrackers Harvest CSI 300 China A-Shares ETF Fund units | 2.98% | down 0.45 pts | ₹472 Cr | down ₹21.1 Cr | Trimmed |
| HDFC Life Insurance Company Limited | 2.84% | up 0.30 pts | ₹450 Cr | up ₹84.8 Cr | Added |
| DLF Limited | 2.66% | up 0.14 pts | ₹421 Cr | up ₹59.5 Cr | Added |
| Cash, TREPS & receivables | 2.48% | up 1.06 pts | ₹393 Cr | up ₹188 Cr | Added |
| Hero MotoCorp Limited | 2.08% | down 0.19 pts | ₹329 Cr | up ₹2.3 Cr | Added |
| Asian Paints Limited | 2.05% | up 0.05 pts | ₹323 Cr | up ₹37 Cr | Added |
| Mahindra & Mahindra Limited | 1.86% | up 0.12 pts | ₹294 Cr | up ₹43.7 Cr | Added |
| Cummins India Limited | 1.86% | up 0.11 pts | ₹294 Cr | up ₹42.8 Cr | Added |
| SBI Life Insurance Company Limited | 1.69% | up 0.21 pts | ₹268 Cr | up ₹55.5 Cr | Added |
| InterGlobe Aviation Limited | 1.69% | down 0.11 pts | ₹267 Cr | up ₹8.1 Cr | Added |
| Prestige Estates Projects Limited | 1.66% | up 0.37 pts | ₹262 Cr | up ₹76.6 Cr | Added |
| Hyundai Motor India Ltd | 1.39% | up 0.33 pts | ₹220 Cr | up ₹68 Cr | Added |
| Hindustan Aeronautics Limited | 1.31% | up 0.21 pts | ₹207 Cr | up ₹49.4 Cr | Added |
| Page Industries Limited | 1.12% | up 0.05 pts | ₹176 Cr | up ₹24 Cr | Added |
| Bajaj Auto Limited | 1.11% | up 0.04 pts | ₹176 Cr | up ₹21.4 Cr | Added |
| Triveni Turbine Limited | 1.09% | up 0.36 pts | ₹173 Cr | up ₹67.6 Cr | Added |
| Shree Cement Limited | 1.06% | down 0.04 pts | ₹167 Cr | up ₹10 Cr | Added |
| Oil & Natural Gas Corporation Limited | 1.00% | down 0.49 pts | ₹158 Cr | down ₹56.2 Cr | Trimmed |
| Info Edge (India) Limited | 0.94% | down 0.06 pts | ₹148 Cr | up ₹4.5 Cr | Added |
| ICICI Prudential Life Insurance Company Limited | 0.90% | down 0.08 pts | ₹143 Cr | up ₹1.2 Cr | Added |
| Siemens Limited | 0.88% | up 0.13 pts | ₹139 Cr | up ₹31.8 Cr | Added |
| ABB India Limited | 0.85% | up 0.04 pts | ₹134 Cr | up ₹17.9 Cr | Added |
| HDFC Asset Management Company Limited | 0.75% | up 0.08 pts | ₹119 Cr | up ₹21.8 Cr | Added |
| ICICI Lombard General Insurance Company Limited | 0.70% | down 0.05 pts | ₹110 Cr | up ₹3.3 Cr | Added |
| Ashok Leyland Limited | 0.70% | down 0.03 pts | ₹110 Cr | up ₹5.4 Cr | Added |
| NHPC Limited | 0.66% | up 0.02 pts | ₹105 Cr | up ₹11.9 Cr | Added |
| Atul Limited | 0.61% | up 0.03 pts | ₹96.6 Cr | up ₹12.8 Cr | Added |
| Oil India Limited | 0.61% | down 0.04 pts | ₹96 Cr | up ₹3 Cr | Added |
| Timken India Limited | 0.60% | down 0.05 pts | ₹94.3 Cr | up ₹1 Cr | Added |
| Ingersoll Rand (India) Limited | 0.58% | up 0.07 pts | ₹92.1 Cr | up ₹18.2 Cr | Added |
| Gujarat Pipavav Port Limited | 0.57% | down <0.01 pts | ₹90.7 Cr | up ₹7.9 Cr | Added |
| 182 Days Treasury Bills Debt | 0.53% | down 0.05 pts | ₹83.9 Cr | up ₹36 L | Held |
| Trent Limited | 0.52% | up 0.07 pts | ₹83 Cr | up ₹17 Cr | Added |
| PI Industries Limited | 0.52% | up 0.01 pts | ₹82.4 Cr | up ₹9.1 Cr | Added |
| Oberoi Realty Limited | 0.51% | up 0.03 pts | ₹81.3 Cr | up ₹12.2 Cr | Added |
| Aarti Industries Limited | 0.49% | up 0.18 pts | ₹77.4 Cr | up ₹33.5 Cr | Added |
| Tata Power Company Limited | 0.37% | down 0.08 pts | ₹58.4 Cr | down ₹5.8 Cr | Trimmed |
| Power Grid Corporation of India Limited | 0.34% | down 0.78 pts | ₹54 Cr | down ₹107 Cr | Trimmed |
| SKF India Limited | 0.32% | up 0.10 pts | ₹51.4 Cr | up ₹19.6 Cr | Added |
| Gujarat Narmada Valley Fertilizers and Chemicals Limited | 0.31% | up 0.04 pts | ₹49.6 Cr | up ₹10.9 Cr | Added |
What changed, Mar 2026 to Apr 2026
New New positions (2)
- Hindustan Petroleum Corporation Limited0.2% · ₹38.8 Cr
- Siemens Energy India Limited0.1% · ₹17.3 Cr
Exited Exited (5)
- Life Insurance Corporation Of Indiawas 0.4% · ₹60.2 Cr
- Bharat Heavy Electricals Limitedwas 0.3% · ₹36.6 Cr
- Amara Raja Batteries Limitedwas 0.2% · ₹24.5 Cr
- 3M India Limitedwas 0.1% · ₹20.4 Cr
- Supreme Petrochem Limitedwas 0.1% · ₹14.1 Cr
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 Mar 2026, the weight rose most in Automobiles (+0.7 pts) and Realty (+0.6 pts), and fell most in Power (−1.6 pts) and Oil (−0.6 pts).
- Automobiles10.6% → 11.3%+0.7 pts
- Realty4.8% → 5.4%+0.6 pts
- Electrical Equipment2.7% → 3.1%+0.4 pts
- Petroleum Products6.2% → 6.4%+0.2 pts
- Aerospace & Defense1.2% → 1.4%+0.2 pts
- Chemicals & Petrochemicals1.6% → 1.8%+0.2 pts
- Power6.4% → 4.8%−1.6 pts
- Oil2.3% → 1.7%−0.6 pts
- Banks25.0% → 24.7%−0.2 pts
- Auto Components0.2% → 0.0%exited−0.2 pts
- Diversified0.2% → 0.0%exited−0.2 pts
- Transport Services1.9% → 1.8%−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 | Apr 2025 | Oct 2025 | Jan 2026 | Mar 2026 | Apr 2026 |
|---|---|---|---|---|---|
| Banks | 26.9% | 25.6% | 25.1% | 25.0% | 24.7% |
| Automobiles | 10.4% | 10.8% | 11.3% | 10.6% | 11.3% |
| Construction | 7.5% | 8.1% | 7.4% | 7.4% | 7.5% |
| Insurance | 7.1% | 5.4% | 6.4% | 6.6% | 6.6% |
| Petroleum Products | 5.9% | 7.7% | 5.0% | 6.2% | 6.4% |
| Realty | 2.0% | 4.2% | 4.3% | 4.8% | 5.4% |
| Power | 4.2% | 5.1% | 5.8% | 6.4% | 4.8% |
| Cement & Cement Products | 6.8% | 4.1% | 4.6% | 4.7% | 4.7% |
| Industrial Products | 4.7% | 5.8% | 4.5% | 4.2% | 4.3% |
| Telecom - Services | 3.9% | 3.6% | 3.2% | 3.2% | 3.4% |
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, Apr 2026
3.5%
▲ 0.2 pts vs Mar 2026
- Cash alone
- 2.5%
- cash and net receivables
- A year earlier
- 8.9%
- Apr 2025 · now ▼ 5.4 pts
- Last 12 months
- 3.4% – 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.