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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
₹16,123 Cr
down ₹14.7 Cr vs Jun 2026
- Stocks held
- 74
- down 2 vs Jun 2026
- Top 10 weight
- 47.3%
- of the portfolio in its ten largest
- Cash & debt
- 7.5%
- cash, money market and debt
- Moves this month
- 2 in · 4 out
ICICI Prudential Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from ICICI Prudential Mutual Fund. In July 2026 it disclosed 74 stocks worth ₹16,123 Cr, down ₹14.7 Cr from Jun 2026. Its largest positions were HDFC Bank Limited (9.2%), ICICI Bank Limited (7.6%), Reliance Industries Limited (5.4%); the ten largest together made up 47.3% of the portfolio, and Banks was the biggest sector at 24.4% of its equity. Cash and debt stood at 7.5%. Compared with Jun 2026 the fund entered 2 new stocks and exited 4.
Against 229 other Sectoral / Thematic funds
Concentration
52%
Top-10 weight is higher than 52% of peers
Breadth
94%
Holds more stocks than 94% of peers
Cash
87%
Holds more cash than 87% of peers
What these mean: concentration · cash
Holdings in July 2026
Download CSVEvery line the fund disclosed, with the change against Jun 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 | 9.24% | down 0.50 pts | ₹1,489 Cr | down ₹82.3 Cr | Trimmed |
| ICICI Bank Limited | 7.63% | down 0.05 pts | ₹1,230 Cr | down ₹8.7 Cr | Trimmed |
| Cash, TREPS & receivables | 6.57% | up 2.26 pts | ₹1,059 Cr | up ₹363 Cr | Added |
| Reliance Industries Limited | 5.40% | up 0.06 pts | ₹871 Cr | up ₹9.3 Cr | Added |
| Larsen & Toubro Limited | 5.21% | down 1.81 pts | ₹840 Cr | down ₹292 Cr | Trimmed |
| Maruti Suzuki India Limited | 4.34% | up 0.04 pts | ₹700 Cr | up ₹5.9 Cr | Added |
| Kotak Mahindra Bank Limited | 3.54% | up 0.23 pts | ₹570 Cr | up ₹37.4 Cr | Added |
| Bharti Airtel Limited | 3.39% | up 0.30 pts | ₹546 Cr | up ₹47.1 Cr | Added |
| DLF Limited | 2.93% | up 0.18 pts | ₹473 Cr | up ₹28.2 Cr | Added |
| Xtrackers Harvest CSI 300 China A-Shares ETF Fund units | 2.84% | down 0.18 pts | ₹457 Cr | down ₹28.9 Cr | Trimmed |
| Mahindra & Mahindra Limited | 2.81% | up 0.62 pts | ₹453 Cr | up ₹99.7 Cr | Added |
| HDFC Life Insurance Company Limited | 2.79% | up <0.01 pts | ₹450 Cr | up ₹10 L | Held |
| UltraTech Cement Limited | 2.78% | up 0.15 pts | ₹448 Cr | up ₹24.5 Cr | Added |
| Hero MotoCorp Limited | 2.51% | up 0.50 pts | ₹405 Cr | up ₹80.4 Cr | Added |
| NTPC Limited | 2.27% | down 0.28 pts | ₹366 Cr | down ₹45.6 Cr | Trimmed |
| Hyundai Motor India Ltd | 2.04% | up 0.26 pts | ₹329 Cr | up ₹41.5 Cr | Added |
| Asian Paints Limited | 1.99% | down 0.17 pts | ₹321 Cr | down ₹27.6 Cr | Trimmed |
| InterGlobe Aviation Limited | 1.98% | up 0.09 pts | ₹319 Cr | up ₹14.7 Cr | Added |
| Prestige Estates Projects Limited | 1.96% | up 0.16 pts | ₹316 Cr | up ₹25.7 Cr | Added |
| SBI Life Insurance Company Limited | 1.72% | up 0.11 pts | ₹277 Cr | up ₹17.1 Cr | Added |
| Hindustan Aeronautics Limited | 1.56% | up 0.09 pts | ₹251 Cr | up ₹14.3 Cr | Added |
| Trent Limited | 1.41% | up 0.63 pts | ₹227 Cr | up ₹102 Cr | Added |
| Axis Bank Limited | 1.33% | down 2.15 pts | ₹215 Cr | down ₹348 Cr | Trimmed |
| Info Edge (India) Limited | 1.29% | up 0.37 pts | ₹208 Cr | up ₹59.3 Cr | Added |
| ICICI Prudential Life Insurance Company Limited | 1.13% | up 0.06 pts | ₹182 Cr | up ₹9.7 Cr | Added |
| Shree Cement Limited | 1.11% | up 0.04 pts | ₹180 Cr | up ₹5.6 Cr | Added |
| Ashok Leyland Limited | 0.93% | up 0.05 pts | ₹150 Cr | up ₹7.6 Cr | Added |
| ICICI Lombard General Insurance Company Limited | 0.88% | up 0.21 pts | ₹142 Cr | up ₹33.2 Cr | Added |
| Triveni Turbine Limited | 0.77% | down 0.11 pts | ₹124 Cr | down ₹18.2 Cr | Trimmed |
| Siemens Limited | 0.77% | up 0.03 pts | ₹124 Cr | up ₹5.3 Cr | Added |
| Cummins India Limited | 0.76% | down 0.02 pts | ₹123 Cr | down ₹3.1 Cr | Trimmed |
| ABB India Limited | 0.72% | up 0.03 pts | ₹117 Cr | up ₹4.1 Cr | Added |
| HDFC Asset Management Company Limited | 0.71% | down 0.01 pts | ₹115 Cr | down ₹1.6 Cr | Trimmed |
| Atul Limited | 0.68% | up 0.11 pts | ₹109 Cr | up ₹17.4 Cr | Added |
| Tata Motors Ltd | 0.68% | up 0.02 pts | ₹109 Cr | up ₹3.5 Cr | Added |
| Page Industries Limited | 0.61% | down 0.18 pts | ₹99 Cr | down ₹29.3 Cr | Trimmed |
| PI Industries Limited | 0.59% | up 0.04 pts | ₹95.3 Cr | up ₹6.8 Cr | Added |
| NHPC Limited | 0.55% | down 0.08 pts | ₹88.8 Cr | down ₹13.6 Cr | Trimmed |
| Gujarat Pipavav Port Limited | 0.54% | down <0.01 pts | ₹87.3 Cr | down ₹48 L | Trimmed |
| Oberoi Realty Limited | 0.52% | up 0.02 pts | ₹83.5 Cr | up ₹2.7 Cr | Added |
| Supreme Industries Limited | 0.48% | up 0.04 pts | ₹76.6 Cr | up ₹6.8 Cr | Added |
| Aarti Industries Limited | 0.46% | up 0.03 pts | ₹74.6 Cr | up ₹4.7 Cr | Added |
| Ingersoll Rand (India) Limited | 0.44% | down 0.02 pts | ₹70.8 Cr | down ₹2.7 Cr | Trimmed |
| Avenue Supermarts Limited | 0.43% | down 0.05 pts | ₹68.7 Cr | down ₹8.1 Cr | Trimmed |
| Ambuja Cements Limited | 0.38% | up 0.01 pts | ₹61.1 Cr | up ₹1.5 Cr | Added |
| SKF India (Industrial) Ltd | 0.38% | down 0.02 pts | ₹61.1 Cr | down ₹3.4 Cr | Trimmed |
| Swiggy Limited | 0.37% | up 0.07 pts | ₹60.3 Cr | up ₹10.8 Cr | Added |
| SKF India Limited | 0.35% | down 0.04 pts | ₹56.1 Cr | down ₹7.3 Cr | Trimmed |
| Gujarat Narmada Valley Fertilizers and Chemicals Limited | 0.33% | down 0.02 pts | ₹53.9 Cr | down ₹3.5 Cr | Trimmed |
| Indian Energy Exchange Limited | 0.31% | up 0.02 pts | ₹50.5 Cr | up ₹2.7 Cr | Added |
What changed, Jun 2026 to Jul 2026
New New positions (2)
- GSPL India Transco Ltd<0.1% · ₹3.1 Cr
- State Bank of India<0.1% · ₹5 L
Exited Exited (4)
- Hindustan Unilever Limitedwas 0.5% · ₹79.4 Cr
- Oil India Limitedwas 0.2% · ₹31.6 Cr
- Hindustan Petroleum Corporation Limitedwas 0.1% · ₹16.2 Cr
- Honeywell Automation India Limitedwas 0.1% · ₹9.9 Cr
Added 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 Jun 2026, the weight rose most in Automobiles (+1.9 pts) and Retailing (+1.4 pts), and fell most in Banks (−2.0 pts) and Construction (−1.8 pts).
- Automobiles11.3% → 13.2%+1.9 pts
- Retailing3.0% → 4.4%+1.4 pts
- Insurance7.0% → 7.6%+0.6 pts
- Realty5.7% → 6.1%+0.4 pts
- Telecom - Services3.4% → 3.8%+0.4 pts
- Cement & Cement Products4.5% → 4.9%+0.3 pts
- Banks26.4% → 24.4%−2.0 pts
- Construction7.6% → 5.8%−1.8 pts
- Diversified FMCG0.5% → 0.0%exited−0.5 pts
- Food Products0.3% → <0.1%−0.3 pts
- Power3.5% → 3.1%−0.3 pts
- Personal Products0.5% → 0.3%−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 | Jul 2025 | Jan 2026 | Apr 2026 | Jun 2026 | Jul 2026 |
|---|---|---|---|---|---|
| Banks | 26.0% | 25.1% | 24.7% | 26.4% | 24.4% |
| Automobiles | 12.9% | 11.3% | 11.3% | 11.3% | 13.2% |
| Insurance | 4.8% | 6.4% | 6.6% | 7.0% | 7.6% |
| Realty | 3.7% | 4.3% | 5.4% | 5.7% | 6.1% |
| Petroleum Products | 8.5% | 5.0% | 6.4% | 5.9% | 6.0% |
| Construction | 7.6% | 7.4% | 7.5% | 7.6% | 5.8% |
| Cement & Cement Products | 6.3% | 4.6% | 4.7% | 4.5% | 4.9% |
| Retailing | 0.3% | 2.3% | 2.2% | 3.0% | 4.4% |
| Telecom - Services | 3.6% | 3.2% | 3.4% | 3.4% | 3.8% |
| Power | 4.9% | 5.8% | 4.8% | 3.5% | 3.1% |
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 2026
7.5%
▲ 2.7 pts vs Jun 2026
- Cash alone
- 6.6%
- cash and net receivables
- A year earlier
- 6.8%
- Jul 2025 · now ▲ 0.7 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.