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Sectoral / Thematic · Mahindra Manulife Mutual Fund · AMFI code 152045Mahindra Manulife Business Cycle Fund
Disclosed for 3 months, Jul 2026 to Sep 2026.
Portfolio value
₹1,291 Cr
down ₹73.8 Cr vs Aug 2026
- Stocks held
- 68
- up 1 vs Aug 2026
- Top 10 weight
- 28.0%
- of the portfolio in its ten largest
- Cash & debt
- 3.2%
- cash, money market and debt
- Moves this month
- 6 in · 5 out
- added to 10, trimmed 47
Mahindra Manulife Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from Mahindra Manulife Mutual Fund. In September 2026 it disclosed 68 stocks worth ₹1,291 Cr, down ₹73.8 Cr from Aug 2026. Its largest positions were Reliance Industries Limited (3.9%), Grasim Industries Limited (3.2%), ICICI Bank Limited (3.1%); the ten largest together made up 28.0% of the portfolio, and Banks was the biggest sector at 16.2% of its equity. Cash and debt stood at 3.2%. Compared with Aug 2026 the fund entered 6 new stocks and exited 5.
Against 226 other Sectoral / Thematic funds
Concentration
4%
Top-10 weight is higher than 4% of peers
Breadth
88%
Holds more stocks than 88% of peers
Cash
47%
Holds more cash than 47% 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
- 3.85%
- Δ weight
- down 0.07 pts
- Value
- ₹49.7 Cr
- Δ value
- down ₹3.8 Cr
- Status
- Trimmed
- Weight
- 3.20%
- Δ weight
- down 0.13 pts
- Value
- ₹41.3 Cr
- Δ value
- down ₹4.2 Cr
- Status
- Trimmed
- Cash, TREPS & receivables
- Weight
- 3.18%
- Δ weight
- down 0.07 pts
- Value
- ₹41.1 Cr
- Δ value
- down ₹3.3 Cr
- Status
- Trimmed
- Weight
- 3.07%
- Δ weight
- down 0.12 pts
- Value
- ₹39.7 Cr
- Δ value
- down ₹4 Cr
- Status
- Trimmed
- Weight
- 3.04%
- Δ weight
- up 0.02 pts
- Value
- ₹39.3 Cr
- Δ value
- down ₹2 Cr
- Status
- Trimmed
- Weight
- 2.71%
- Δ weight
- down 0.01 pts
- Value
- ₹34.9 Cr
- Δ value
- down ₹2.1 Cr
- Status
- Trimmed
- Weight
- 2.52%
- Δ weight
- up 0.65 pts
- Value
- ₹32.5 Cr
- Δ value
- up ₹6.9 Cr
- Status
- Added
- Weight
- 2.51%
- Δ weight
- down 0.17 pts
- Value
- ₹32.4 Cr
- Δ value
- down ₹4.1 Cr
- Status
- Trimmed
- Weight
- 2.47%
- Δ weight
- up 0.17 pts
- Value
- ₹31.9 Cr
- Δ value
- up ₹49 L
- Status
- Added
- Weight
- 2.31%
- Δ weight
- up 0.03 pts
- Value
- ₹29.9 Cr
- Δ value
- down ₹1.2 Cr
- Status
- Trimmed
- Weight
- 2.25%
- Δ weight
- down 0.12 pts
- Value
- ₹29.1 Cr
- Δ value
- down ₹3.4 Cr
- Status
- Trimmed
- Weight
- 2.20%
- Δ weight
- down 0.02 pts
- Value
- ₹28.5 Cr
- Δ value
- down ₹1.9 Cr
- Status
- Trimmed
- Weight
- 2.16%
- Δ weight
- up 0.08 pts
- Value
- ₹27.9 Cr
- Δ value
- down ₹53 L
- Status
- Trimmed
- Weight
- 2.02%
- Δ weight
- up <0.01 pts
- Value
- ₹26.1 Cr
- Δ value
- down ₹1.4 Cr
- Status
- Trimmed
- Weight
- 1.93%
- Δ weight
- down 0.09 pts
- Value
- ₹24.9 Cr
- Δ value
- down ₹2.6 Cr
- Status
- Trimmed
- Weight
- 1.87%
- Δ weight
- up 0.11 pts
- Value
- ₹24.1 Cr
- Δ value
- up ₹13 L
- Status
- Added
- Weight
- 1.79%
- Δ weight
- down 0.04 pts
- Value
- ₹23.1 Cr
- Δ value
- down ₹1.8 Cr
- Status
- Trimmed
- Weight
- 1.77%
- Δ weight
- up 0.03 pts
- Value
- ₹22.8 Cr
- Δ value
- down ₹92 L
- Status
- Trimmed
- Weight
- 1.69%
- Δ weight
- up 0.40 pts
- Value
- ₹21.8 Cr
- Δ value
- up ₹4.2 Cr
- Status
- Added
- Weight
- 1.60%
- Δ weight
- up 0.07 pts
- Value
- ₹20.7 Cr
- Δ value
- down ₹16 L
- Status
- Trimmed
- Weight
- 1.57%
- Δ weight
- down 0.01 pts
- Value
- ₹20.3 Cr
- Δ value
- down ₹1.3 Cr
- Status
- Trimmed
- Weight
- 1.56%
- Δ weight
- up 0.06 pts
- Value
- ₹20.1 Cr
- Δ value
- down ₹29 L
- Status
- Trimmed
- Weight
- 1.56%
- Δ weight
- up 0.26 pts
- Value
- ₹20.1 Cr
- Δ value
- up ₹2.3 Cr
- Status
- Added
- Weight
- 1.54%
- Δ weight
- down 0.06 pts
- Value
- ₹19.8 Cr
- Δ value
- down ₹2 Cr
- Status
- Trimmed
- Weight
- 1.48%
- Δ weight
- down 0.11 pts
- Value
- ₹19.1 Cr
- Δ value
- down ₹2.5 Cr
- Status
- Trimmed
- Weight
- 1.48%
- Δ weight
- up 0.16 pts
- Value
- ₹19.1 Cr
- Δ value
- up ₹1 Cr
- Status
- Added
- Weight
- 1.47%
- Δ weight
- up 0.08 pts
- Value
- ₹19 Cr
- Δ value
- up ₹1 L
- Status
- Held
- Weight
- 1.45%
- Δ weight
- down 0.02 pts
- Value
- ₹18.7 Cr
- Δ value
- down ₹1.4 Cr
- Status
- Trimmed
- Weight
- 1.44%
- Δ weight
- up <0.01 pts
- Value
- ₹18.6 Cr
- Δ value
- down ₹1 Cr
- Status
- Trimmed
- Weight
- 1.44%
- Δ weight
- down 0.03 pts
- Value
- ₹18.5 Cr
- Δ value
- down ₹1.5 Cr
- Status
- Trimmed
- Weight
- 1.42%
- Δ weight
- up 1.42 pts
- Value
- ₹18.4 Cr
- Δ value
- up ₹18.4 Cr
- Status
- New
- Weight
- 1.41%
- Δ weight
- up 0.09 pts
- Value
- ₹18.2 Cr
- Δ value
- up ₹13 L
- Status
- Added
- Weight
- 1.39%
- Δ weight
- down 0.12 pts
- Value
- ₹17.9 Cr
- Δ value
- down ₹2.7 Cr
- Status
- Trimmed
- Shriram Transport Finance Company LimitedShriram Finance Limited · history in this fund
- Weight
- 1.37%
- Δ weight
- down 0.09 pts
- Value
- ₹17.7 Cr
- Δ value
- down ₹2.3 Cr
- Status
- Trimmed
- Weight
- 1.33%
- Δ weight
- down 0.07 pts
- Value
- ₹17.1 Cr
- Δ value
- down ₹1.9 Cr
- Status
- Trimmed
- Weight
- 1.29%
- Δ weight
- up 0.01 pts
- Value
- ₹16.6 Cr
- Δ value
- down ₹79 L
- Status
- Trimmed
- Weight
- 1.26%
- Δ weight
- up 0.02 pts
- Value
- ₹16.3 Cr
- Δ value
- down ₹71 L
- Status
- Trimmed
- Weight
- 1.26%
- Δ weight
- up 0.22 pts
- Value
- ₹16.3 Cr
- Δ value
- up ₹2.1 Cr
- Status
- Added
- Weight
- 1.20%
- Δ weight
- down 0.08 pts
- Value
- ₹15.5 Cr
- Δ value
- down ₹1.9 Cr
- Status
- Trimmed
- Weight
- 1.16%
- Δ weight
- up 0.02 pts
- Value
- ₹15 Cr
- Δ value
- down ₹62 L
- Status
- Trimmed
- Weight
- 1.16%
- Δ weight
- up 0.17 pts
- Value
- ₹15 Cr
- Δ value
- up ₹1.5 Cr
- Status
- Added
- Weight
- 1.11%
- Δ weight
- up 1.11 pts
- Value
- ₹14.3 Cr
- Δ value
- up ₹14.3 Cr
- Status
- New
- Weight
- 1.10%
- Δ weight
- down 0.02 pts
- Value
- ₹14.2 Cr
- Δ value
- down ₹1.1 Cr
- Status
- Trimmed
- Weight
- 1.10%
- Δ weight
- down 0.01 pts
- Value
- ₹14.2 Cr
- Δ value
- down ₹1 Cr
- Status
- Trimmed
- Weight
- 1.09%
- Δ weight
- down 0.02 pts
- Value
- ₹14.1 Cr
- Δ value
- down ₹1.1 Cr
- Status
- Trimmed
- Weight
- 1.06%
- Δ weight
- down 0.64 pts
- Value
- ₹13.7 Cr
- Δ value
- down ₹9.5 Cr
- Status
- Trimmed
- Weight
- 1.06%
- Δ weight
- down 0.25 pts
- Value
- ₹13.7 Cr
- Δ value
- down ₹4.1 Cr
- Status
- Trimmed
- Weight
- 1.05%
- Δ weight
- up 0.05 pts
- Value
- ₹13.6 Cr
- Δ value
- down ₹14 L
- Status
- Trimmed
- Weight
- 1.05%
- Δ weight
- up 0.03 pts
- Value
- ₹13.5 Cr
- Δ value
- down ₹32 L
- Status
- Trimmed
- Weight
- 1.03%
- Δ weight
- up 1.03 pts
- Value
- ₹13.3 Cr
- Δ value
- up ₹13.3 Cr
- Status
- New
- Weight
- 0.95%
- Δ weight
- down 0.06 pts
- Value
- ₹12.3 Cr
- Δ value
- down ₹1.6 Cr
- Status
- Trimmed
- Weight
- 0.91%
- Δ weight
- down 0.04 pts
- Value
- ₹11.8 Cr
- Δ value
- down ₹1.2 Cr
- Status
- Trimmed
- Weight
- 0.91%
- Δ weight
- up 0.91 pts
- Value
- ₹11.8 Cr
- Δ value
- up ₹11.8 Cr
- Status
- New
- Weight
- 0.89%
- Δ weight
- up 0.89 pts
- Value
- ₹11.5 Cr
- Δ value
- up ₹11.5 Cr
- Status
- New
- Weight
- 0.86%
- Δ weight
- down 0.03 pts
- Value
- ₹11.1 Cr
- Δ value
- down ₹1 Cr
- Status
- Trimmed
- Weight
- 0.85%
- Δ weight
- down 0.01 pts
- Value
- ₹11 Cr
- Δ value
- down ₹74 L
- Status
- Trimmed
- Weight
- 0.85%
- Δ weight
- up 0.04 pts
- Value
- ₹10.9 Cr
- Δ value
- down ₹4 L
- Status
- Held
- Weight
- 0.82%
- Δ weight
- down 0.09 pts
- Value
- ₹10.6 Cr
- Δ value
- down ₹1.8 Cr
- Status
- Trimmed
- Weight
- 0.79%
- Δ weight
- up 0.12 pts
- Value
- ₹10.2 Cr
- Δ value
- up ₹1.1 Cr
- Status
- Added
- Weight
- 0.74%
- Δ weight
- down 0.02 pts
- Value
- ₹9.5 Cr
- Δ value
- down ₹88 L
- Status
- Trimmed
- Weight
- 0.71%
- Δ weight
- up 0.02 pts
- Value
- ₹9.2 Cr
- Δ value
- down ₹32 L
- Status
- Trimmed
- Weight
- 0.69%
- Δ weight
- up 0.49 pts
- Value
- ₹9 Cr
- Δ value
- up ₹6.2 Cr
- Status
- Added
- Weight
- 0.60%
- Δ weight
- up 0.04 pts
- Value
- ₹7.8 Cr
- Δ value
- up ₹4 L
- Status
- Held
- Weight
- 0.55%
- Δ weight
- up 0.22 pts
- Value
- ₹7.1 Cr
- Δ value
- up ₹2.6 Cr
- Status
- Added
- Weight
- 0.51%
- Δ weight
- down 0.06 pts
- Value
- ₹6.5 Cr
- Δ value
- down ₹1.2 Cr
- Status
- Trimmed
- Weight
- 0.40%
- Δ weight
- down 0.54 pts
- Value
- ₹5.2 Cr
- Δ value
- down ₹7.6 Cr
- Status
- Trimmed
- Weight
- 0.36%
- Δ weight
- down 0.38 pts
- Value
- ₹4.6 Cr
- Δ value
- down ₹5.5 Cr
- Status
- Trimmed
- Weight
- 0.30%
- Δ weight
- down 0.67 pts
- Value
- ₹3.8 Cr
- Δ value
- down ₹9.4 Cr
- Status
- Trimmed
- Weight
- 0.23%
- Δ weight
- up 0.23 pts
- Value
- ₹3 Cr
- Δ value
- up ₹3 Cr
- Status
- New
What changed, Aug 2026 to Sep 2026
New New positions (6)
- HBL Engineering Limited1.4% · ₹18.4 Cr
- Finolex Cables Limited1.1% · ₹14.3 Cr
- HEG Limited1.0% · ₹13.3 Cr
- Jindal Saw Limited0.9% · ₹11.8 Cr
- Graphite India Limited0.9% · ₹11.5 Cr
- Smartworks Coworking Spaces Ltd0.2% · ₹3 Cr
Exited Exited (5)
- Infosys Limitedwas 2.2% · ₹29.8 Cr
- The Federal Bank Limitedwas 1.1% · ₹15 Cr
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 Products (+6.3 pts) and Ferrous Metals (+0.5 pts), and fell most in IT - Software (−2.3 pts) and Industrial Manufacturing (−1.0 pts).
- Industrial Products2.7% → 9.0%+6.3 pts
- Ferrous Metals3.4% → 3.9%+0.5 pts
- Commercial Services & Supplies0.0% → 0.2%new+0.2 pts
- IT - Services1.1% → 1.3%+0.2 pts
- Agricultural Food & Other Products1.1% → 1.3%+0.2 pts
- Metals & Minerals Trading2.4% → 2.6%+0.2 pts
- IT - Software5.6% → 3.3%−2.3 pts
- Industrial Manufacturing4.5% → 3.5%−1.0 pts
- Pharmaceuticals & Biotechnology10.7% → 9.8%−0.9 pts
- Minerals & Mining1.0% → 0.3%−0.7 pts
- Banks16.8% → 16.2%−0.7 pts
- Gas0.6% → 0.0%exited−0.6 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 | 16.8% | 16.2% |
| Pharmaceuticals & Biotechnology | 10.7% | 9.8% |
| Industrial Products | 2.7% | 9.0% |
| Power | 7.9% | 7.7% |
| Cement & Cement Products | 7.8% | 7.6% |
| Finance | 5.8% | 5.6% |
| Telecom - Services | 4.4% | 4.4% |
| Petroleum Products | 4.1% | 4.0% |
| Ferrous Metals | 3.4% | 3.9% |
| Automobiles | 4.1% | 3.9% |
Allocation in Sep 2026change vs Aug 2026
- Banks (8)16.2%▼ 0.7 pts
- Pharmaceuticals & Biotechnology (6)9.8%▼ 0.9 pts
- Industrial Products (8)9.0%
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.
Cash & debt, Sep 2026
3.2%
▼ 0.1 pts vs Aug 2026
- Cash alone
- 3.2%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 2.8% – 3.3%
- lowest to highest · record 3.3% in Aug 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.