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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
₹16,138 Cr
up ₹340 Cr vs May 2026
- Stocks held
- 76
- down 1 vs May 2026
- Top 10 weight
- 49.8%
- of the portfolio in its ten largest
- Cash & debt
- 4.9%
- cash, money market and debt
- Moves this month
- 4 in · 5 out
ICICI Prudential Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from ICICI Prudential Mutual Fund. In June 2026 it disclosed 76 stocks worth ₹16,138 Cr, up ₹340 Cr from May 2026. Its largest positions were HDFC Bank Limited (9.7%), ICICI Bank Limited (7.7%), Larsen & Toubro Limited (7.0%); the ten largest together made up 49.8% of the portfolio, and Banks was the biggest sector at 26.4% of its equity. Cash and debt stood at 4.9%. Compared with May 2026 the fund entered 4 new stocks and exited 5.
Against 229 other Sectoral / Thematic funds
Concentration
58%
Top-10 weight is higher than 58% of peers
Breadth
94%
Holds more stocks than 94% of peers
Cash
70%
Holds more cash than 70% of peers
What these mean: concentration · cash
Holdings in June 2026
Download CSVEvery line the fund disclosed, with the change against May 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 | 9.74% | up 0.50 pts | ₹1,572 Cr | up ₹112 Cr | Added |
| ICICI Bank Limited | 7.68% | up 0.51 pts | ₹1,239 Cr | up ₹107 Cr | Added |
| Larsen & Toubro Limited | 7.02% | down 0.10 pts | ₹1,132 Cr | up ₹8.1 Cr | Added |
| Reliance Industries Limited | 5.34% | down 0.13 pts | ₹861 Cr | down ₹1.9 Cr | Held |
| Cash, TREPS & receivables | 4.31% | up 2.06 pts | ₹696 Cr | up ₹339 Cr | Added |
| Maruti Suzuki India Limited | 4.30% | up 0.22 pts | ₹694 Cr | up ₹48.6 Cr | Added |
| Axis Bank Limited | 3.49% | up 0.08 pts | ₹563 Cr | up ₹24.7 Cr | Added |
| Kotak Mahindra Bank Limited | 3.30% | down <0.01 pts | ₹533 Cr | up ₹10.9 Cr | Added |
| Bharti Airtel Limited | 3.09% | down 0.03 pts | ₹499 Cr | up ₹6.2 Cr | Added |
| Xtrackers Harvest CSI 300 China A-Shares ETF Fund units | 3.01% | down 0.03 pts | ₹486 Cr | up ₹4.8 Cr | Added |
| HDFC Life Insurance Company Limited | 2.79% | down 0.10 pts | ₹450 Cr | down ₹5.9 Cr | Trimmed |
| DLF Limited | 2.76% | up 0.07 pts | ₹445 Cr | up ₹21.1 Cr | Added |
| UltraTech Cement Limited | 2.62% | down 0.26 pts | ₹423 Cr | down ₹32.7 Cr | Trimmed |
| NTPC Limited | 2.55% | down 0.28 pts | ₹412 Cr | down ₹34.9 Cr | Trimmed |
| Mahindra & Mahindra Limited | 2.19% | up 0.36 pts | ₹354 Cr | up ₹64.7 Cr | Added |
| Asian Paints Limited | 2.16% | down 0.08 pts | ₹349 Cr | down ₹4.8 Cr | Trimmed |
| Hero MotoCorp Limited | 2.01% | down 0.06 pts | ₹324 Cr | down ₹2.4 Cr | Trimmed |
| InterGlobe Aviation Limited | 1.89% | up 0.15 pts | ₹304 Cr | up ₹30.4 Cr | Added |
| Prestige Estates Projects Limited | 1.80% | up 0.19 pts | ₹290 Cr | up ₹36.3 Cr | Added |
| Hyundai Motor India Ltd | 1.78% | down 0.06 pts | ₹287 Cr | down ₹2.8 Cr | Trimmed |
| SBI Life Insurance Company Limited | 1.61% | down 0.09 pts | ₹260 Cr | down ₹9.5 Cr | Trimmed |
| Hindustan Aeronautics Limited | 1.47% | down 0.01 pts | ₹237 Cr | up ₹4.2 Cr | Added |
| Shree Cement Limited | 1.08% | down 0.02 pts | ₹174 Cr | down ₹17 L | Held |
| ICICI Prudential Life Insurance Company Limited | 1.07% | down 0.03 pts | ₹172 Cr | down ₹60 L | Held |
| Info Edge (India) Limited | 0.92% | down 0.04 pts | ₹149 Cr | down ₹2.6 Cr | Trimmed |
| Triveni Turbine Limited | 0.88% | down 0.09 pts | ₹142 Cr | down ₹10.7 Cr | Trimmed |
| Ashok Leyland Limited | 0.88% | up 0.21 pts | ₹142 Cr | up ₹36.5 Cr | Added |
| Page Industries Limited | 0.80% | down 0.20 pts | ₹128 Cr | down ₹28.3 Cr | Trimmed |
| Cummins India Limited | 0.78% | down 0.42 pts | ₹126 Cr | down ₹63.7 Cr | Trimmed |
| Trent Limited | 0.77% | up 0.10 pts | ₹124 Cr | up ₹17.7 Cr | Added |
| Siemens Limited | 0.73% | down 0.15 pts | ₹118 Cr | down ₹21.5 Cr | Trimmed |
| HDFC Asset Management Company Limited | 0.72% | down 0.02 pts | ₹117 Cr | down ₹93 L | Trimmed |
| ABB India Limited | 0.70% | down 0.04 pts | ₹113 Cr | down ₹3.6 Cr | Trimmed |
| ICICI Lombard General Insurance Company Limited | 0.68% | down 0.03 pts | ₹109 Cr | down ₹3.2 Cr | Trimmed |
| Tata Motors Ltd | 0.65% | up 0.54 pts | ₹105 Cr | up ₹88.2 Cr | Added |
| NHPC Limited | 0.63% | up 0.01 pts | ₹102 Cr | up ₹3.1 Cr | Added |
| Atul Limited | 0.57% | down 0.05 pts | ₹91.6 Cr | down ₹5.5 Cr | Trimmed |
| PI Industries Limited | 0.55% | up 0.03 pts | ₹88.5 Cr | up ₹6.3 Cr | Added |
| Gujarat Pipavav Port Limited | 0.54% | down 0.03 pts | ₹87.8 Cr | down ₹3.6 Cr | Trimmed |
| Oberoi Realty Limited | 0.50% | down 0.03 pts | ₹80.9 Cr | down ₹2.3 Cr | Trimmed |
| Hindustan Unilever Limited | 0.49% | down 0.02 pts | ₹79.4 Cr | down ₹1.3 Cr | Trimmed |
| Avenue Supermarts Limited | 0.48% | up 0.48 pts | ₹76.8 Cr | up ₹76.8 Cr | New |
| Godrej Consumer Products Limited | 0.47% | up 0.01 pts | ₹76.1 Cr | up ₹2.9 Cr | Added |
| Ingersoll Rand (India) Limited | 0.46% | down 0.09 pts | ₹73.5 Cr | down ₹13.4 Cr | Trimmed |
| Aarti Industries Limited | 0.43% | down 0.03 pts | ₹69.9 Cr | down ₹2.5 Cr | Trimmed |
| Supreme Industries Limited | 0.43% | up 0.15 pts | ₹69.8 Cr | up ₹24.9 Cr | Added |
| SKF India (Industrial) Ltd | 0.40% | up 0.09 pts | ₹64.5 Cr | up ₹16.2 Cr | Added |
| SKF India Limited | 0.39% | down <0.01 pts | ₹63.4 Cr | up ₹1.2 Cr | Added |
| Ambuja Cements Limited | 0.37% | up 0.12 pts | ₹59.6 Cr | up ₹20.4 Cr | Added |
| Gujarat Narmada Valley Fertilizers and Chemicals Limited | 0.36% | up 0.02 pts | ₹57.4 Cr | up ₹4.1 Cr | Added |
What changed, May 2026 to Jun 2026
New New positions (4)
- Avenue Supermarts Limited0.5% · ₹76.8 Cr
- Arvind Fashions Limited0.1% · ₹8.2 Cr
- Brigade Enterprises Limited<0.1% · ₹5.8 Cr
- ZF Commercial Vehicle Control Systems India Limited<0.1% · ₹4.1 Cr
Exited Exited (5)
- Bajaj Auto Limitedwas 1.2% · ₹184 Cr
- Oil & Natural Gas Corporation Limitedwas 0.8% · ₹127 Cr
- Timken India Limitedwas 0.3% · ₹55 Cr
- GAIL (India) 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 May 2026, the weight rose most in Banks (+1.7 pts) and Agricultural, Commercial & Construction Vehicles (+0.8 pts), and fell most in Oil (−1.2 pts) and Industrial Products (−0.6 pts).
- Banks24.7% → 26.4%+1.7 pts
- Agricultural, Commercial & Construction Vehicles0.8% → 1.7%+0.8 pts
- Retailing2.4% → 3.0%+0.6 pts
- Realty5.3% → 5.7%+0.4 pts
- Transport Services1.8% → 2.0%+0.2 pts
- Oil1.4% → 0.2%−1.2 pts
- Industrial Products3.3% → 2.8%−0.6 pts
- Automobiles11.8% → 11.3%−0.5 pts
- Electrical Equipment3.2% → 2.9%−0.3 pts
- Petroleum Products6.2% → 5.9%−0.3 pts
- Industrial Manufacturing0.3% → 0.1%−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 | Jun 2025 | Dec 2025 | Mar 2026 | May 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Banks | 25.5% | 25.1% | 25.0% | 24.7% | 26.4% |
| Automobiles | 11.3% | 11.1% | 10.6% | 11.8% | 11.3% |
| Construction | 7.5% | 7.5% | 7.4% | 7.6% | 7.6% |
| Insurance | 7.0% | 6.2% | 6.6% | 7.1% | 7.0% |
| Petroleum Products | 7.3% | 5.6% | 6.2% | 6.2% | 5.9% |
| Realty | 3.8% | 4.2% | 4.8% | 5.3% | 5.7% |
| Cement & Cement Products | 6.4% | 4.3% | 4.7% | 4.6% | 4.5% |
| Power | 4.0% | 5.3% | 6.4% | 3.7% | 3.5% |
| Telecom - Services | 3.9% | 3.4% | 3.2% | 3.3% | 3.4% |
| Retailing | 0.2% | 2.3% | 2.3% | 2.4% | 3.0% |
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 2026
4.9%
▲ 2.0 pts vs May 2026
- Cash alone
- 4.3%
- cash and net receivables
- A year earlier
- 6.6%
- Jun 2025 · now ▼ 1.7 pts
- Last 12 months
- 2.9% – 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.