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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
₹15,873 Cr
down ₹250 Cr vs Jul 2026
- Stocks held
- 74
- unchanged
- Top 10 weight
- 46.8%
- of the portfolio in its ten largest
- Cash & debt
- 8.3%
- cash, money market and debt
- Moves this month
- 1 in · 1 out
- added to 10, trimmed 41
ICICI Prudential Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from ICICI Prudential Mutual Fund. In August 2026 it disclosed 74 stocks worth ₹15,873 Cr, down ₹250 Cr from Jul 2026. Its largest positions were HDFC Bank Limited (9.0%), ICICI Bank Limited (7.7%), Reliance Industries Limited (5.4%); the ten largest together made up 46.8% of the portfolio, and Banks was the biggest sector at 24.8% of its equity. Cash and debt stood at 8.3%. Compared with Jul 2026 the fund entered 1 new stock and exited 1.
Against 229 other Sectoral / Thematic funds
Concentration
51%
Top-10 weight is higher than 51% of peers
Breadth
94%
Holds more stocks than 94% of peers
Cash
88%
Holds more cash than 88% of peers
What these mean: concentration · cash
Holdings in August 2026
Download CSVEvery line the fund disclosed, with the change against Jul 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 | 8.98% | down 0.26 pts | ₹1,426 Cr | down ₹63.8 Cr | Trimmed |
| ICICI Bank Limited | 7.67% | up 0.04 pts | ₹1,217 Cr | down ₹13.1 Cr | Trimmed |
| Cash, TREPS & receivables | 7.29% | up 0.72 pts | ₹1,158 Cr | up ₹98.4 Cr | Added |
| Reliance Industries Limited | 5.36% | down 0.04 pts | ₹850 Cr | down ₹20.5 Cr | Trimmed |
| Larsen & Toubro Limited | 4.92% | down 0.29 pts | ₹781 Cr | down ₹58.8 Cr | Trimmed |
| Maruti Suzuki India Limited | 4.20% | down 0.14 pts | ₹666 Cr | down ₹33.8 Cr | Trimmed |
| Kotak Mahindra Bank Limited | 3.86% | up 0.32 pts | ₹613 Cr | up ₹42.5 Cr | Added |
| DLF Limited | 3.12% | up 0.19 pts | ₹496 Cr | up ₹22.8 Cr | Added |
| Xtrackers Harvest CSI 300 China A-Shares ETF Fund units | 2.90% | up 0.06 pts | ₹460 Cr | up ₹2.4 Cr | Added |
| HDFC Life Insurance Company Limited | 2.88% | up 0.09 pts | ₹457 Cr | up ₹7.1 Cr | Added |
| Bharti Airtel Limited | 2.88% | down 0.51 pts | ₹456 Cr | down ₹89.6 Cr | Trimmed |
| Mahindra & Mahindra Limited | 2.76% | down 0.05 pts | ₹438 Cr | down ₹15.5 Cr | Trimmed |
| UltraTech Cement Limited | 2.71% | down 0.06 pts | ₹431 Cr | down ₹17 Cr | Trimmed |
| Hero MotoCorp Limited | 2.38% | down 0.13 pts | ₹378 Cr | down ₹26.8 Cr | Trimmed |
| NTPC Limited | 2.17% | down 0.10 pts | ₹345 Cr | down ₹20.9 Cr | Trimmed |
| Hyundai Motor India Ltd | 2.10% | up 0.06 pts | ₹333 Cr | up ₹3.7 Cr | Added |
| Prestige Estates Projects Limited | 2.01% | up 0.05 pts | ₹319 Cr | up ₹3.3 Cr | Added |
| Asian Paints Limited | 1.87% | down 0.12 pts | ₹297 Cr | down ₹23.8 Cr | Trimmed |
| InterGlobe Aviation Limited | 1.87% | down 0.11 pts | ₹297 Cr | down ₹22.3 Cr | Trimmed |
| SBI Life Insurance Company Limited | 1.62% | down 0.10 pts | ₹256 Cr | down ₹20.8 Cr | Trimmed |
| Axis Bank Limited | 1.43% | up 0.10 pts | ₹228 Cr | up ₹12.3 Cr | Added |
| Trent Limited | 1.37% | down 0.04 pts | ₹217 Cr | down ₹9.5 Cr | Trimmed |
| Info Edge (India) Limited | 1.36% | up 0.07 pts | ₹216 Cr | up ₹8.2 Cr | Added |
| Hindustan Aeronautics Limited | 1.35% | down 0.21 pts | ₹214 Cr | down ₹37.2 Cr | Trimmed |
| ICICI Prudential Life Insurance Company Limited | 1.15% | up 0.02 pts | ₹182 Cr | up ₹58 L | Held |
| ICICI Lombard General Insurance Company Limited | 1.12% | up 0.24 pts | ₹178 Cr | up ₹35.9 Cr | Added |
| Shree Cement Limited | 1.00% | down 0.11 pts | ₹159 Cr | down ₹20.5 Cr | Trimmed |
| Ashok Leyland Limited | 1.00% | up 0.07 pts | ₹158 Cr | up ₹8.5 Cr | Added |
| Cummins India Limited | 0.96% | up 0.20 pts | ₹152 Cr | up ₹29.1 Cr | Added |
| Siemens Limited | 0.83% | up 0.07 pts | ₹132 Cr | up ₹8.9 Cr | Added |
| Triveni Turbine Limited | 0.75% | down 0.02 pts | ₹119 Cr | down ₹4.9 Cr | Trimmed |
| Tata Motors Ltd | 0.74% | up 0.06 pts | ₹117 Cr | up ₹8.5 Cr | Added |
| HDFC Asset Management Company Limited | 0.73% | up 0.01 pts | ₹115 Cr | up ₹28 L | Held |
| ABB India Limited | 0.72% | down <0.01 pts | ₹115 Cr | down ₹2 Cr | Trimmed |
| Atul Limited | 0.65% | down 0.02 pts | ₹103 Cr | down ₹5.6 Cr | Trimmed |
| Page Industries Limited | 0.55% | down 0.06 pts | ₹87.8 Cr | down ₹11.2 Cr | Trimmed |
| Avenue Supermarts Limited | 0.55% | up 0.12 pts | ₹86.7 Cr | up ₹17.9 Cr | Added |
| Oberoi Realty Limited | 0.54% | up 0.02 pts | ₹85.4 Cr | up ₹1.8 Cr | Added |
| PI Industries Limited | 0.52% | down 0.07 pts | ₹82.1 Cr | down ₹13.2 Cr | Trimmed |
| Gujarat Pipavav Port Limited | 0.52% | down 0.02 pts | ₹82.1 Cr | down ₹5.3 Cr | Trimmed |
| Aarti Industries Limited | 0.50% | up 0.04 pts | ₹79.9 Cr | up ₹5.4 Cr | Added |
| Supreme Industries Limited | 0.50% | up 0.02 pts | ₹78.7 Cr | up ₹2.1 Cr | Added |
| NHPC Limited | 0.48% | down 0.07 pts | ₹75.7 Cr | down ₹13.1 Cr | Trimmed |
| SKF India (Industrial) Ltd | 0.42% | up 0.04 pts | ₹66.5 Cr | up ₹5.4 Cr | Added |
| Gujarat Narmada Valley Fertilizers and Chemicals Limited | 0.38% | up 0.05 pts | ₹60.8 Cr | up ₹6.8 Cr | Added |
| Swiggy Limited | 0.38% | up <0.01 pts | ₹59.7 Cr | down ₹63 L | Trimmed |
| SKF India Limited | 0.37% | up 0.02 pts | ₹58.9 Cr | up ₹2.8 Cr | Added |
| Ambuja Cements Limited | 0.36% | down 0.02 pts | ₹56.7 Cr | down ₹4.4 Cr | Trimmed |
| Arvind Fashions Limited | 0.33% | up 0.12 pts | ₹51.7 Cr | up ₹18.1 Cr | Added |
| Affle (India) Limited | 0.30% | up 0.01 pts | ₹48.2 Cr | up ₹36 L | Added |
What changed, Jul 2026 to Aug 2026
New New positions (1)
- Life Insurance Corporation Of India0.2% · ₹27.5 Cr
Exited Exited (1)
- Gujarat Gas Limitedwas 0.1% · ₹11.8 Cr
Added Biggest additions
- Kotak Mahindra Bank Limitedup ₹42.5 Cr (+0.32% pts)
- ICICI Lombard General Insurance Company Limitedup ₹35.9 Cr (+0.24% pts)
- Cummins India Limitedup ₹29.1 Cr (+0.20% pts)
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 2026, the weight rose most in Insurance (+0.5 pts) and Banks (+0.4 pts), and fell most in Telecom - Services (−0.5 pts) and Construction (−0.3 pts).
- Insurance7.6% → 8.1%+0.5 pts
- Banks24.4% → 24.8%+0.4 pts
- Realty6.1% → 6.4%+0.4 pts
- Retailing4.4% → 4.8%+0.3 pts
- Agricultural, Commercial & Construction Vehicles1.8% → 2.0%+0.2 pts
- Industrial Products2.8% → 2.9%+0.1 pts
- Telecom - Services3.8% → 3.2%−0.5 pts
- Construction5.8% → 5.5%−0.3 pts
- Aerospace & Defense1.7% → 1.5%−0.2 pts
- Automobiles13.2% → 13.0%−0.2 pts
- Cement & Cement Products4.9% → 4.7%−0.2 pts
- Power3.1% → 3.0%−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 | Aug 2025 | Feb 2026 | May 2026 | Jul 2026 | Aug 2026 |
|---|---|---|---|---|---|
| Banks | 25.6% | 23.7% | 24.7% | 24.4% | 24.8% |
| Automobiles | 12.7% | 11.1% | 11.8% | 13.2% | 13.0% |
| Insurance | 4.5% | 6.5% | 7.1% | 7.6% | 8.1% |
| Realty | 3.4% | 4.6% | 5.3% | 6.1% | 6.4% |
| Petroleum Products | 9.1% | 5.8% | 6.2% | 6.0% | 6.0% |
| Construction | 7.8% | 7.6% | 7.6% | 5.8% | 5.5% |
| Retailing | 0.5% | 2.2% | 2.4% | 4.4% | 4.8% |
| Cement & Cement Products | 5.5% | 4.7% | 4.6% | 4.9% | 4.7% |
| Telecom - Services | 3.6% | 2.9% | 3.3% | 3.8% | 3.2% |
| Power | 4.8% | 5.9% | 3.7% | 3.1% | 3.0% |
Allocation in Aug 2026
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 2026
8.3%
▲ 0.7 pts vs Jul 2026
- Cash alone
- 7.3%
- cash and net receivables
- A year earlier
- 8.3%
- Aug 2025 · now ▼ 0.1 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.