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Sectoral / Thematic · Kotak Mahindra Mutual Fund · AMFI code 150622Kotak Business Cycle Fund
Disclosed for 3 months, Jul 2026 to Sep 2026.
Portfolio value
₹3,414 Cr
down ₹95.1 Cr vs Aug 2026
- Stocks held
- 52
- unchanged
- Top 10 weight
- 40.8%
- of the portfolio in its ten largest
- Cash & debt
- 1.4%
- cash, money market and debt
- Moves this month
- 0 in · 0 out
- added to 10, trimmed 39
Kotak Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from Kotak Mahindra Mutual Fund. In September 2026 it disclosed 52 stocks worth ₹3,414 Cr, down ₹95.1 Cr from Aug 2026. Its largest positions were ICICI Bank Limited (7.7%), Aditya Infotech Limited (5.7%), INDO-MIM Ltd. (4.4%); the ten largest together made up 40.8% of the portfolio, and Banks was the biggest sector at 16.0% of its equity. Cash and debt stood at 1.4%. Compared with Aug 2026 the fund entered 0 new stocks and exited 0.
Against 226 other Sectoral / Thematic funds
Concentration
37%
Top-10 weight is higher than 37% of peers
Breadth
72%
Holds more stocks than 72% of peers
Cash
19%
Holds more cash than 19% of peers
Holdings in September 2026
Download CSVEvery line the fund disclosed, with the change against Aug 2026. Click a column to sort; click a company to see every fund that owns it.
- Weight
- 7.69%
- Δ weight
- down 0.54 pts
- Value
- ₹262 Cr
- Δ value
- down ₹26.3 Cr
- Status
- Trimmed
- Weight
- 5.74%
- Δ weight
- up 0.56 pts
- Value
- ₹196 Cr
- Δ value
- up ₹14.3 Cr
- Status
- Added
- Weight
- 4.39%
- Δ weight
- up 1.38 pts
- Value
- ₹150 Cr
- Δ value
- up ₹44.3 Cr
- Status
- Added
- Weight
- 4.05%
- Δ weight
- up 0.01 pts
- Value
- ₹138 Cr
- Δ value
- down ₹3.5 Cr
- Status
- Trimmed
- Weight
- 3.67%
- Δ weight
- down 0.12 pts
- Value
- ₹125 Cr
- Δ value
- down ₹7.6 Cr
- Status
- Trimmed
- Weight
- 3.37%
- Δ weight
- down 0.19 pts
- Value
- ₹115 Cr
- Δ value
- down ₹9.7 Cr
- Status
- Trimmed
- Weight
- 3.23%
- Δ weight
- up 0.05 pts
- Value
- ₹110 Cr
- Δ value
- down ₹1.3 Cr
- Status
- Trimmed
- Weight
- 3.11%
- Δ weight
- down 0.09 pts
- Value
- ₹106 Cr
- Δ value
- down ₹6 Cr
- Status
- Trimmed
- Weight
- 2.87%
- Δ weight
- up 0.31 pts
- Value
- ₹97.9 Cr
- Δ value
- up ₹8.3 Cr
- Status
- Added
- Weight
- 2.70%
- Δ weight
- up 0.16 pts
- Value
- ₹92.2 Cr
- Δ value
- up ₹3 Cr
- Status
- Added
- Weight
- 2.64%
- Δ weight
- down 0.15 pts
- Value
- ₹90 Cr
- Δ value
- down ₹7.6 Cr
- Status
- Trimmed
- Weight
- 2.62%
- Δ weight
- up 0.07 pts
- Value
- ₹89.3 Cr
- Δ value
- down ₹4 L
- Status
- Held
- Shriram Transport Finance Company LimitedShriram Finance Limited · history in this fund
- Weight
- 2.48%
- Δ weight
- down 0.24 pts
- Value
- ₹84.6 Cr
- Δ value
- down ₹10.9 Cr
- Status
- Trimmed
- Weight
- 2.09%
- Δ weight
- down 0.21 pts
- Value
- ₹71.4 Cr
- Δ value
- down ₹9.4 Cr
- Status
- Trimmed
- Weight
- 1.99%
- Δ weight
- down 0.22 pts
- Value
- ₹68 Cr
- Δ value
- down ₹9.6 Cr
- Status
- Trimmed
- Weight
- 1.86%
- Δ weight
- down 0.15 pts
- Value
- ₹63.4 Cr
- Δ value
- down ₹7.1 Cr
- Status
- Trimmed
- Weight
- 1.85%
- Δ weight
- down 0.12 pts
- Value
- ₹63.3 Cr
- Δ value
- down ₹6 Cr
- Status
- Trimmed
- Weight
- 1.85%
- Δ weight
- down 0.16 pts
- Value
- ₹63 Cr
- Δ value
- down ₹7.3 Cr
- Status
- Trimmed
- Weight
- 1.77%
- Δ weight
- down 0.24 pts
- Value
- ₹60.3 Cr
- Δ value
- down ₹10.1 Cr
- Status
- Trimmed
- Weight
- 1.75%
- Δ weight
- down 0.04 pts
- Value
- ₹59.9 Cr
- Δ value
- down ₹3.2 Cr
- Status
- Trimmed
- Weight
- 1.71%
- Δ weight
- up <0.01 pts
- Value
- ₹58.4 Cr
- Δ value
- down ₹1.5 Cr
- Status
- Trimmed
- Weight
- 1.70%
- Δ weight
- down 0.14 pts
- Value
- ₹58.2 Cr
- Δ value
- down ₹6.4 Cr
- Status
- Trimmed
- Weight
- 1.67%
- Δ weight
- down 0.03 pts
- Value
- ₹57 Cr
- Δ value
- down ₹2.6 Cr
- Status
- Trimmed
- Weight
- 1.65%
- Δ weight
- up <0.01 pts
- Value
- ₹56.5 Cr
- Δ value
- down ₹1.5 Cr
- Status
- Trimmed
- Weight
- 1.62%
- Δ weight
- down 0.05 pts
- Value
- ₹55.4 Cr
- Δ value
- down ₹3.3 Cr
- Status
- Trimmed
- Weight
- 1.61%
- Δ weight
- up 0.07 pts
- Value
- ₹55.1 Cr
- Δ value
- up ₹80 L
- Status
- Added
- Weight
- 1.58%
- Δ weight
- up 0.02 pts
- Value
- ₹54 Cr
- Δ value
- down ₹79 L
- Status
- Trimmed
- Weight
- 1.48%
- Δ weight
- up 0.09 pts
- Value
- ₹50.4 Cr
- Δ value
- up ₹1.7 Cr
- Status
- Added
- Weight
- 1.46%
- Δ weight
- down 0.14 pts
- Value
- ₹49.7 Cr
- Δ value
- down ₹6.3 Cr
- Status
- Trimmed
- Weight
- 1.40%
- Δ weight
- down 0.15 pts
- Value
- ₹47.9 Cr
- Δ value
- down ₹6.7 Cr
- Status
- Trimmed
- Weight
- 1.39%
- Δ weight
- down 0.04 pts
- Value
- ₹47.5 Cr
- Δ value
- down ₹2.8 Cr
- Status
- Trimmed
- Weight
- 1.39%
- Δ weight
- down 0.15 pts
- Value
- ₹47.5 Cr
- Δ value
- down ₹6.7 Cr
- Status
- Trimmed
- Cash, TREPS & receivables
- Weight
- 1.35%
- Δ weight
- up 0.81 pts
- Value
- ₹46.1 Cr
- Δ value
- up ₹27.2 Cr
- Status
- Added
- Weight
- 1.33%
- Δ weight
- down 0.08 pts
- Value
- ₹45.5 Cr
- Δ value
- down ₹4.1 Cr
- Status
- Trimmed
- Weight
- 1.23%
- Δ weight
- down 0.06 pts
- Value
- ₹42.1 Cr
- Δ value
- down ₹3.2 Cr
- Status
- Trimmed
- Weight
- 1.18%
- Δ weight
- down 0.09 pts
- Value
- ₹40.1 Cr
- Δ value
- down ₹4.2 Cr
- Status
- Trimmed
- Weight
- 1.15%
- Δ weight
- down 0.03 pts
- Value
- ₹39.3 Cr
- Δ value
- down ₹2.3 Cr
- Status
- Trimmed
- Weight
- 1.14%
- Δ weight
- up 0.05 pts
- Value
- ₹39 Cr
- Δ value
- up ₹58 L
- Status
- Added
- Weight
- 1.11%
- Δ weight
- down 0.10 pts
- Value
- ₹37.8 Cr
- Δ value
- down ₹4.6 Cr
- Status
- Trimmed
- Weight
- 1.04%
- Δ weight
- up 0.01 pts
- Value
- ₹35.5 Cr
- Δ value
- down ₹51 L
- Status
- Trimmed
- Weight
- 1.00%
- Δ weight
- down 0.04 pts
- Value
- ₹34.3 Cr
- Δ value
- down ₹2.4 Cr
- Status
- Trimmed
- Weight
- 1.00%
- Δ weight
- up 0.05 pts
- Value
- ₹34 Cr
- Δ value
- up ₹78 L
- Status
- Added
- Weight
- 0.99%
- Δ weight
- up 0.05 pts
- Value
- ₹33.9 Cr
- Δ value
- up ₹70 L
- Status
- Added
- Weight
- 0.94%
- Δ weight
- down <0.01 pts
- Value
- ₹32.2 Cr
- Δ value
- down ₹1.1 Cr
- Status
- Trimmed
- Weight
- 0.93%
- Δ weight
- down 0.11 pts
- Value
- ₹31.8 Cr
- Δ value
- down ₹4.9 Cr
- Status
- Trimmed
- Weight
- 0.82%
- Δ weight
- down <0.01 pts
- Value
- ₹28 Cr
- Δ value
- down ₹80 L
- Status
- Trimmed
- Weight
- 0.79%
- Δ weight
- down 0.07 pts
- Value
- ₹27 Cr
- Δ value
- down ₹3.2 Cr
- Status
- Trimmed
- Weight
- 0.77%
- Δ weight
- up 0.08 pts
- Value
- ₹26.3 Cr
- Δ value
- up ₹2 Cr
- Status
- Added
- Weight
- 0.75%
- Δ weight
- down 0.01 pts
- Value
- ₹25.6 Cr
- Δ value
- down ₹1.1 Cr
- Status
- Trimmed
- Weight
- 0.69%
- Δ weight
- up 0.04 pts
- Value
- ₹23.6 Cr
- Δ value
- up ₹65 L
- Status
- Added
- Weight
- 0.57%
- Δ weight
- down 0.03 pts
- Value
- ₹19.5 Cr
- Δ value
- down ₹1.7 Cr
- Status
- Trimmed
- Weight
- 0.55%
- Δ weight
- down 0.04 pts
- Value
- ₹18.8 Cr
- Δ value
- down ₹1.9 Cr
- Status
- Trimmed
- Weight
- 0.27%
- Δ weight
- up 0.03 pts
- Value
- ₹9.3 Cr
- Δ value
- up ₹91 L
- Status
- Added
What changed, Aug 2026 to Sep 2026
New New positions (0)
None.
Exited Exited (0)
None.
Added Biggest additions
- INDO-MIM Ltd.up ₹44.3 Cr (+1.38% pts)
- Aditya Infotech Limitedup ₹14.3 Cr (+0.56% pts)
- Acme Solar Holdings Ltdup ₹8.3 Cr (+0.31% pts)
- Lenskart Solutions Limitedup ₹3 Cr (+0.16% pts)
- Shadowfax Technologies Limitedup ₹2 Cr (+0.08% 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 Aug 2026, the weight rose most in Industrial Manufacturing (+2.0 pts) and Power (+0.4 pts), and fell most in Banks (−0.6 pts) and IT - Software (−0.4 pts).
- Industrial Manufacturing8.2% → 10.3%+2.0 pts
- Power3.6% → 4.0%+0.4 pts
- Pharmaceuticals & Biotechnology2.3% → 2.5%+0.2 pts
- Retailing10.3% → 10.5%+0.1 pts
- Transport Services0.9% → 1.1%+0.1 pts
- Banks16.6% → 16.0%−0.6 pts
- IT - Software4.4% → 4.0%−0.4 pts
- Automobiles5.5% → 5.2%−0.4 pts
- Capital Markets5.1% → 4.8%−0.3 pts
- Finance3.8% → 3.5%−0.3 pts
- Industrial Products2.0% → 1.8%−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 2026 | Sep 2026 |
|---|---|---|
| Banks | 16.6% | 16.0% |
| Retailing | 10.3% | 10.5% |
| Industrial Manufacturing | 8.2% | 10.3% |
| Healthcare Services | 10.0% | 9.8% |
| Automobiles | 5.5% | 5.2% |
| Capital Markets | 5.1% | 4.8% |
| IT - Software | 4.4% | 4.0% |
| Power | 3.6% | 4.0% |
| Insurance | 3.8% | 3.9% |
| Finance | 3.8% | 3.5% |
Allocation in Sep 2026change vs Aug 2026
- Banks (4)16.0%▼ 0.6 pts
- Retailing (4)10.5%▲ 0.1 pts
- Industrial Manufacturing (2)10.3%▲ 2.0 pts
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.
Cash & debt, Sep 2026
1.4%
▲ 0.8 pts vs Aug 2026
- Cash alone
- 1.4%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 0.5% – 1.4%
- lowest to highest · record 1.4% in Sep 2026
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.