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Sectoral / Thematic · Motilal Oswal Mutual Fund · AMFI code 152794Motilal Oswal Business Cycle Fund
Disclosed for 26 months, Aug 2024 to Sep 2026.
Portfolio value
₹1,449 Cr
down ₹98.4 Cr vs Aug 2026
- Stocks held
- 34
- up 3 vs Aug 2026
- Top 10 weight
- 38.7%
- of the portfolio in its ten largest
- Cash & debt
- 1.9%
- cash, money market and debt
- Moves this month
- 5 in · 2 out
- added to 7, trimmed 22
Motilal Oswal Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from Motilal Oswal Mutual Fund. In September 2026 it disclosed 34 stocks worth ₹1,449 Cr, down ₹98.4 Cr from Aug 2026. Its largest positions were Eternal Limited (5.7%), Coforge Limited (4.6%), RBL Bank Limited (4.4%); the ten largest together made up 38.7% of the portfolio, and Auto Components was the biggest sector at 10.2% of its equity. Cash and debt stood at 1.9%. Compared with Aug 2026 the fund entered 5 new stocks and exited 2.
Against 229 other Sectoral / Thematic funds
Concentration
28%
Top-10 weight is higher than 28% of peers
Breadth
22%
Holds more stocks than 22% of peers
Cash
28%
Holds more cash than 28% of peers
What these mean: concentration · cash
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. New to these? How to read a portfolio.
| Eternal Limited | 5.65% | up 0.23 pts | ₹81.9 Cr | down ₹2.1 Cr | Trimmed |
| Coforge Limited | 4.65% | down 0.29 pts | ₹67.3 Cr | down ₹9.1 Cr | Trimmed |
| RBL Bank Limited | 4.37% | up 0.51 pts | ₹63.3 Cr | up ₹3.6 Cr | Added |
| Kalyan Jewellers India Limited | 4.09% | down 0.07 pts | ₹59.3 Cr | down ₹5.1 Cr | Trimmed |
| One 97 Communications Limited | 3.46% | up 0.77 pts | ₹50.1 Cr | up ₹8.5 Cr | Added |
| Max Healthcare Institute Limited | 3.40% | up 0.03 pts | ₹49.3 Cr | down ₹2.9 Cr | Trimmed |
| Urban Company Ltd. | 3.35% | up 0.02 pts | ₹48.5 Cr | down ₹3 Cr | Trimmed |
| IndusInd Bank Limited | 3.29% | down 0.18 pts | ₹47.7 Cr | down ₹6.1 Cr | Trimmed |
| Prestige Estates Projects Limited | 3.24% | up 1.13 pts | ₹46.9 Cr | up ₹14.4 Cr | Added |
| Apollo Hospitals Enterprise Limited | 3.22% | down 0.07 pts | ₹46.7 Cr | down ₹4.2 Cr | Trimmed |
| CG Power and Industrial Solutions Limited | 3.20% | down 0.01 pts | ₹46.4 Cr | down ₹3.4 Cr | Trimmed |
| Persistent Systems Limited | 3.17% | up 0.02 pts | ₹45.9 Cr | down ₹2.7 Cr | Trimmed |
| Emmvee Photovoltaic Power Limited | 3.17% | up 0.60 pts | ₹45.9 Cr | up ₹6.2 Cr | Added |
| Ellenbarrie Industrial Gases Limited | 3.15% | down 3.21 pts | ₹45.7 Cr | down ₹52.8 Cr | Trimmed |
| Samvardhana Motherson International Limited | 3.07% | up 3.07 pts | ₹44.5 Cr | up ₹44.5 Cr | New |
| BSE Limited | 3.05% | up 0.49 pts | ₹44.2 Cr | up ₹4.5 Cr | Added |
| Bharti Airtel Limited | 3.02% | up 0.10 pts | ₹43.7 Cr | down ₹1.4 Cr | Trimmed |
| Firstsource Solutions Limited | 2.95% | up 0.09 pts | ₹42.7 Cr | down ₹1.5 Cr | Trimmed |
| Billionbrains Garage Ventures Ltd | 2.94% | up 0.97 pts | ₹42.6 Cr | up ₹12.1 Cr | Added |
| ESDS Software Solution Ltd | 2.81% | up 2.81 pts | ₹40.7 Cr | up ₹40.7 Cr | New |
| Ather Energy Limited | 2.76% | down 0.36 pts | ₹40 Cr | down ₹8.2 Cr | Trimmed |
| Biocon Limited | 2.68% | down 0.11 pts | ₹38.9 Cr | down ₹4.4 Cr | Trimmed |
| Shriram Transport Finance Company Limited Shriram Finance Limited · history in this fund | 2.60% | down 0.15 pts | ₹37.7 Cr | down ₹4.9 Cr | Trimmed |
| UNO Minda Limited | 2.55% | down 0.05 pts | ₹37 Cr | down ₹3.4 Cr | Trimmed |
| Belrise Industries Ltd. | 2.26% | up 0.21 pts | ₹32.7 Cr | up ₹1.1 Cr | Added |
| PNB Housing Finance Limited | 2.24% | up 0.09 pts | ₹32.4 Cr | down ₹83 L | Trimmed |
| Onemi Technology Solutions Limited | 2.23% | up 2.23 pts | ₹32.4 Cr | up ₹32.4 Cr | New |
| IDFC First Bank Limited | 2.21% | up 0.03 pts | ₹32 Cr | down ₹1.8 Cr | Trimmed |
| Wework India Management Limited | 2.15% | up 0.06 pts | ₹31.1 Cr | down ₹1.1 Cr | Trimmed |
| Sansera Engineering Limited | 2.11% | up 2.11 pts | ₹30.6 Cr | up ₹30.6 Cr | New |
| Muthoot Finance Limited | 2.11% | down 0.04 pts | ₹30.5 Cr | down ₹2.7 Cr | Trimmed |
| ABB India Limited | 2.07% | down 0.12 pts | ₹30 Cr | down ₹3.8 Cr | Trimmed |
| Cash, TREPS & receivables | 1.86% | down 2.80 pts | ₹26.9 Cr | down ₹45.1 Cr | Trimmed |
| PG Electroplast Limited | 0.81% | down 1.01 pts | ₹11.7 Cr | down ₹16.4 Cr | Trimmed |
| Lenskart Solutions Limited | 0.10% | up 0.10 pts | ₹1.4 Cr | up ₹1.4 Cr | New |
What changed, Aug 2026 to Sep 2026
New New positions (5)
- Samvardhana Motherson International Limited3.1% · ₹44.5 Cr
- ESDS Software Solution Ltd2.8% · ₹40.7 Cr
- Onemi Technology Solutions Limited2.2% · ₹32.4 Cr
- Sansera Engineering Limited2.1% · ₹30.6 Cr
- Lenskart Solutions Limited0.1% · ₹1.4 Cr
Exited Exited (2)
- Healthcare Global Enterprises Limitedwas 4.3% · ₹66.4 Cr
- AU Small Finance Bank Limitedwas 2.9% · ₹45.1 Cr
Added Biggest additions
- Prestige Estates Projects Limitedup ₹14.4 Cr (+1.13% pts)
- Billionbrains Garage Ventures Ltdup ₹12.1 Cr (+0.97% pts)
- One 97 Communications Limitedup ₹8.5 Cr (+0.77% pts)
- Emmvee Photovoltaic Power Limitedup ₹6.2 Cr (+0.60% pts)
- BSE Limitedup ₹4.5 Cr (+0.49% pts)
- RBL Bank Limitedup ₹3.6 Cr (+0.51% pts)
- Belrise Industries Ltd.up ₹1.1 Cr (+0.21% pts)
Trimmed Biggest reductions
- Ellenbarrie Industrial Gases Limiteddown ₹52.8 Cr (−3.21% pts)
- PG Electroplast Limiteddown ₹16.4 Cr (−1.01% pts)
- Coforge Limiteddown ₹9.1 Cr (−0.29% pts)
- Ather Energy Limiteddown ₹8.2 Cr (−0.36% pts)
- IndusInd Bank Limiteddown ₹6.1 Cr (−0.18% pts)
- Kalyan Jewellers India Limiteddown ₹5.1 Cr (−0.07% pts)
- Shriram Transport Finance Company Limiteddown ₹4.9 Cr (−0.15% pts)
- Biocon Limiteddown ₹4.4 Cr (−0.11% pts)
- Apollo Hospitals Enterprise Limiteddown ₹4.2 Cr (−0.07% pts)
- ABB India Limiteddown ₹3.8 Cr (−0.12% 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 Auto Components (+5.3 pts) and IT - Services (+2.9 pts), and fell most in Healthcare Services (−4.7 pts) and Chemicals & Petrochemicals (−3.5 pts).
- Auto Components4.9% → 10.2%+5.3 pts
- IT - Services0.0% → 2.9%new+2.9 pts
- Finance7.4% → 9.4%+2.0 pts
- Capital Markets4.8% → 6.1%+1.3 pts
- Realty2.2% → 3.3%+1.1 pts
- Financial Technology (fintech)2.8% → 3.5%+0.7 pts
- Healthcare Services11.5% → 6.7%−4.7 pts
- Chemicals & Petrochemicals6.7% → 3.2%−3.5 pts
- Banks13.0% → 10.1%−3.0 pts
- Consumer Durables6.3% → 5.0%−1.3 pts
- IT - Software8.5% → 8.0%−0.5 pts
- Automobiles3.3% → 2.8%−0.5 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 | Sep 2025 | Mar 2026 | Jun 2026 | Aug 2026 | Sep 2026 |
|---|---|---|---|---|---|
| Auto Components | — | 1.5% | 2.4% | 4.9% | 10.2% |
| Banks | — | 18.8% | 13.6% | 13.0% | 10.1% |
| Finance | 4.0% | 2.6% | 3.9% | 7.4% | 9.4% |
| Retailing | 13.1% | 8.7% | 12.2% | 9.2% | 9.3% |
| Electrical Equipment | — | 3.2% | 8.5% | 8.4% | 8.6% |
| IT - Software | 19.6% | 18.3% | 13.0% | 8.5% | 8.0% |
| Healthcare Services | 5.3% | 10.1% | 11.5% | 11.5% | 6.7% |
| Capital Markets | — | 3.0% | 4.9% | 4.8% | 6.1% |
| Commercial Services & Supplies | — | — | — | 5.2% | 5.2% |
| Consumer Durables | 31.1% | 14.9% | 13.0% | 6.3% | 5.0% |
Allocation in Sep 2026change vs Aug 2026
- Auto Components (4)10.2%▲ 5.3 pts
- Banks (3)10.1%▼ 3.0 pts
- Finance (4)9.4%▲ 2.0 pts
- Retailing (3)9.3%▲ 0.1 pts
- Electrical Equipment (3)8.6%▲ 0.2 pts
- IT - Software (2)8.0%▼ 0.5 pts
- Healthcare Services (2)6.7%▼ 4.7 pts
- Capital Markets (2)6.1%▲ 1.3 pts
- Commercial Services & Supplies (2)5.2%
- Consumer Durables (2)5.0%▼ 1.3 pts
- Financial Technology (fintech) (1)3.5%▲ 0.7 pts
- Realty (1)3.3%▲ 1.1 pts
- Chemicals & Petrochemicals (1)3.2%▼ 3.5 pts
- Telecom - Services (1)3.1%
- IT - Services (1)2.9%▲ 2.9 pts
- Automobiles (1)2.8%▼ 0.5 pts
- Pharmaceuticals & Biotechnology (1)2.7%▼ 0.2 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. More on reading cash.
Cash & debt, Sep 2026
1.9%
▼ 2.8 pts vs Aug 2026
- Cash alone
- 1.9%
- cash and net receivables
- A year earlier
- 17.9%
- Sep 2025 · now ▼ 16.0 pts
- Last 12 months
- 0.7% – 16.5%
- lowest to highest · record 32.1% in Aug 2024
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.
The last 24 months
| Month | Portfolio value | Stocks | Entered | Exited | Cash | Cash & debt | Turnover |
|---|---|---|---|---|---|---|---|
| Sep 2026 | ₹1,449 Cr | 34 | 5 | 2 | 1.9% | 1.9% | 167% |
| Aug 2026 | ₹1,547 Cr | 31 | 0 | 2 | 4.6% | 4.7% | 179% |
| Jul 2026 | ₹1,535 Cr | 33 | 9 | 3 | 4.6% | 4.6% | 190% |
| Jun 2026 | ₹1,465 Cr | 27 | 2 | 1 | 0.7% | 0.7% | 184% |
| May 2026 | ₹1,494 Cr | 26 | 6 | 2 | 1.9% | 1.9% | 190% |
| Apr 2026 | ₹1,571 Cr | 22 | 0 | 0 | 5.3% | 5.3% | 197% |
| Mar 2026 | ₹1,454 Cr | 22 | 0 | 1 | 7.1% | 7.1% | 221% |
| Feb 2026 | ₹1,674 Cr | 23 | 5 | 1 | 6.1% | 6.1% | 238% |
| Jan 2026 | ₹1,869 Cr | 19 | 4 | 3 | 7.8% | 7.8% | 238% |
| Dec 2025 | ₹2,113 Cr | 18 | 2 | 2 | 14.8% | 14.8% | 258% |
| Nov 2025 | ₹2,227 Cr | 18 | 5 | 5 | 14.8% | 14.8% | 244% |
| Oct 2025 | ₹2,151 Cr | 18 | 4 | 3 | 16.5% | 16.5% | 220% |
| Sep 2025 | ₹1,985 Cr | 17 | 0 | 2 | 17.9% | 17.9% | 213% |
| Aug 2025 | ₹1,976 Cr | 19 | 3 | 2 | 1.3% | 1.3% | 208% |
| Jul 2025 | ₹1,950 Cr | 18 | 1 | 0 | 10.1% | 10.1% | 216% |
| Jun 2025 | ₹1,936 Cr | 17 | 1 | 2 | 6.5% | 6.5% | 199% |
| May 2025 | ₹1,910 Cr | 18 | 1 | 0 | 26.0% | 26.0% | 194% |
| Apr 2025 | ₹1,746 Cr | 17 | 0 | 1 | 27.9% | 27.9% | 172% |
| Mar 2025 | ₹1,752 Cr | 18 | 3 | 3 | 28.4% | 28.4% | 141% |
| Feb 2025 | ₹1,603 Cr | 18 | 2 | 0 | 13.2% | 13.2% | 106% |
| Jan 2025 | ₹1,645 Cr | 16 | 5 | 6 | 15.8% | 15.8% | 89% |
| Dec 2024 | ₹1,799 Cr | 17 | 2 | 3 | 11.9% | 11.9% | 53% |
| Nov 2024 | ₹1,353 Cr | 18 | 0 | 2 | 2.5% | 2.5% | 42% |
| Oct 2024 | ₹1,136 Cr | 20 | 6 | 2 | 3.6% | 3.6% | 38% |
For any of the 2 earlier months, choose it in “Portfolio as of” at the top of the page.