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Sectoral / Thematic · Tata Mutual Fund · AMFI code 149066Tata Business Cycle Fund
Disclosed for 9 months, Jan 2026 to Sep 2026.Published as: TATA BUSINESS CYCLE FUND
Portfolio value
₹2,675 Cr
up ₹37.5 Cr vs Apr 2026
- Stocks held
- 59
- up 3 vs Apr 2026
- Top 10 weight
- 34.0%
- of the portfolio in its ten largest
- Cash & debt
- 3.0%
- cash, money market and debt
- Moves this month
- 6 in · 3 out
- added to 10, trimmed 18
Tata Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from Tata Mutual Fund. In May 2026 it disclosed 59 stocks worth ₹2,675 Cr, up ₹37.5 Cr from Apr 2026. Its largest positions were Reliance Industries Limited (4.8%), Metropolis Healthcare Limited (4.3%), Jindal Steel & Power Limited (3.8%); the ten largest together made up 34.0% of the portfolio, and Banks was the biggest sector at 12.0% of its equity. Cash and debt stood at 3.0%. Compared with Apr 2026 the fund entered 6 new stocks and exited 3.
Against 226 other Sectoral / Thematic funds
Concentration
15%
Top-10 weight is higher than 15% of peers
Breadth
83%
Holds more stocks than 83% of peers
Cash
44%
Holds more cash than 44% of peers
What these mean: concentration · cash
Holdings in May 2026
Download CSVEvery line the fund disclosed, with the change against Apr 2026. Click a column to sort; click a company to see every fund that owns it. New to these? How to read a portfolio.
| Reliance Industries Limited | 4.82% | down 0.47 pts | ₹129 Cr | down ₹10.7 Cr | Trimmed |
| Metropolis Healthcare Limited | 4.33% | up 0.56 pts | ₹116 Cr | up ₹16.5 Cr | Added |
| Jindal Steel & Power Limited | 3.76% | down 0.10 pts | ₹101 Cr | down ₹1.3 Cr | Trimmed |
| Axis Bank Limited | 3.74% | up <0.01 pts | ₹100 Cr | up ₹1.4 Cr | Added |
| Larsen & Toubro Limited | 3.09% | up <0.01 pts | ₹82.5 Cr | up ₹1.3 Cr | Added |
| HDFC Bank Limited | 3.07% | down 1.18 pts | ₹82.1 Cr | down ₹30 Cr | Trimmed |
| Cash, TREPS & receivables | 3.02% | down 0.45 pts | ₹80.8 Cr | down ₹10.9 Cr | Trimmed |
| L&T Finance Limited | 2.97% | up 0.03 pts | ₹79.4 Cr | up ₹1.9 Cr | Added |
| Delhivery Limited | 2.77% | down 0.13 pts | ₹74.2 Cr | down ₹2.4 Cr | Trimmed |
| PB Fintech Limited | 2.77% | up 0.40 pts | ₹74 Cr | up ₹11.7 Cr | Added |
| Cummins India Limited | 2.66% | up <0.01 pts | ₹71.2 Cr | up ₹1.1 Cr | Added |
| Adani Energy Solutions Limited | 2.63% | up 0.52 pts | ₹70.4 Cr | up ₹14.7 Cr | Added |
| Ambuja Cements Limited | 2.61% | down 0.02 pts | ₹69.9 Cr | up ₹57 L | Added |
| Apollo Hospitals Enterprise Limited | 2.44% | up 0.13 pts | ₹65.3 Cr | up ₹4.3 Cr | Added |
| Niva Bupa Health Insurance Company Limited | 2.17% | up 0.15 pts | ₹58.1 Cr | up ₹4.8 Cr | Added |
| Tata Steel Limited | 2.07% | down 0.06 pts | ₹55.3 Cr | down ₹89 L | Trimmed |
| Godrej Properties Limited | 2.05% | down 0.11 pts | ₹54.8 Cr | down ₹2.3 Cr | Trimmed |
| Shriram Transport Finance Company Limited Shriram Finance Limited · history in this fund | 2.05% | down 0.01 pts | ₹54.7 Cr | up ₹57 L | Added |
| Marico Limited | 1.97% | up 0.09 pts | ₹52.6 Cr | up ₹3 Cr | Added |
| Sedemac Mechatronics Limited | 1.97% | up 0.25 pts | ₹52.6 Cr | up ₹7.4 Cr | Added |
| Kotak Mahindra Bank Limited | 1.96% | down 0.02 pts | ₹52.4 Cr | up ₹12 L | Held |
| Varun Beverages Limited | 1.94% | up 0.03 pts | ₹51.8 Cr | up ₹1.4 Cr | Added |
| Adani Power Limited | 1.85% | down 0.16 pts | ₹49.4 Cr | down ₹3.4 Cr | Trimmed |
| Bank of Baroda | 1.78% | up 0.01 pts | ₹47.7 Cr | up ₹89 L | Added |
| Adani Ports and Special Economic Zone Limited | 1.67% | up 0.11 pts | ₹44.8 Cr | up ₹3.7 Cr | Added |
| The Ramco Cements Limited | 1.66% | down 0.15 pts | ₹44.4 Cr | down ₹3.3 Cr | Trimmed |
| Dr. Lal Path Labs Limited | 1.59% | up 0.22 pts | ₹42.6 Cr | up ₹6.4 Cr | Added |
| ICICI Lombard General Insurance Company Limited | 1.53% | up <0.01 pts | ₹41 Cr | up ₹66 L | Added |
| Nuvoco Vistas Corporation Ltd. | 1.45% | up 0.20 pts | ₹38.8 Cr | up ₹5.8 Cr | Added |
| Acme Solar Holdings Ltd | 1.44% | up 0.01 pts | ₹38.6 Cr | up ₹90 L | Added |
| HDFC Life Insurance Company Limited | 1.43% | down <0.01 pts | ₹38.2 Cr | up ₹51 L | Added |
| Bajaj Finserv Limited | 1.40% | up 0.01 pts | ₹37.5 Cr | up ₹76 L | Added |
| Emmvee Photovoltaic Power Limited | 1.35% | up 0.24 pts | ₹36 Cr | up ₹7 Cr | Added |
| One 97 Communications Limited | 1.32% | up 0.01 pts | ₹35.2 Cr | up ₹72 L | Added |
| Graphite India Limited | 1.22% | up 0.23 pts | ₹32.7 Cr | up ₹6.5 Cr | Added |
| KEC International Limited | 1.21% | down 0.17 pts | ₹32.3 Cr | down ₹3.9 Cr | Trimmed |
| 360 One WAM Limited | 1.11% | up 0.06 pts | ₹29.7 Cr | up ₹1.9 Cr | Added |
| DCB Bank Limited | 1.09% | down 0.09 pts | ₹29.1 Cr | down ₹1.9 Cr | Trimmed |
| Gravita India Limited | 1.07% | down 0.03 pts | ₹28.6 Cr | down ₹30 L | Trimmed |
| Dixon Technologies (India) Limited | 1.06% | up 1.06 pts | ₹28.2 Cr | up ₹28.2 Cr | New |
| Dabur India Limited | 1.03% | down 0.01 pts | ₹27.7 Cr | up ₹12 L | Held |
| Bayer Cropscience Limited | 1.03% | down 0.07 pts | ₹27.5 Cr | down ₹1.6 Cr | Trimmed |
| Hindustan Unilever Limited | 1.01% | down 0.06 pts | ₹26.9 Cr | down ₹1.2 Cr | Trimmed |
| NHPC Limited | 1.00% | up 0.50 pts | ₹26.8 Cr | up ₹13.5 Cr | Added |
| Oil & Natural Gas Corporation Limited | 0.99% | up 0.99 pts | ₹26.5 Cr | up ₹26.5 Cr | New |
| Bharat Forge Limited | 0.99% | up 0.99 pts | ₹26.4 Cr | up ₹26.4 Cr | New |
| Shree Cement Limited | 0.99% | up 0.03 pts | ₹26.4 Cr | up ₹1.1 Cr | Added |
| Vedanta Limited | 0.98% | up 0.21 pts | ₹26.1 Cr | up ₹6 Cr | Added |
| ITC Limited | 0.91% | down 0.10 pts | ₹24.4 Cr | down ₹2.4 Cr | Trimmed |
| Five Star Business Finance Limited | 0.91% | down 0.08 pts | ₹24.3 Cr | down ₹1.9 Cr | Trimmed |
What changed, Apr 2026 to May 2026
New New positions (6)
- Dixon Technologies (India) Limited1.1% · ₹28.2 Cr
- Oil & Natural Gas Corporation Limited1.0% · ₹26.5 Cr
- Bharat Forge Limited1.0% · ₹26.4 Cr
- GlaxoSmithKline Pharmaceuticals Limited0.8% · ₹22.1 Cr
- Hexaware Technologies Limited0.4% · ₹11.2 Cr
- DEE Development Engineers Ltd0.1% · ₹2.1 Cr
Exited Exited (3)
- Lupin Limitedwas 2.4% · ₹62.7 Cr
- Havells India Limited
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 Apr 2026, the weight rose most in Industrial Products (+1.2 pts) and Oil (+1.0 pts), and fell most in Pharmaceuticals & Biotechnology (−1.6 pts) and Banks (−1.4 pts).
- Industrial Products3.8% → 5.0%+1.2 pts
- Oil0.0% → 1.0%new+1.0 pts
- Healthcare Services7.7% → 8.6%+0.9 pts
- Power6.6% → 7.5%+0.9 pts
- IT - Software0.0% → 0.4%new+0.4 pts
- Financial Technology (fintech)3.8% → 4.2%+0.4 pts
- Pharmaceuticals & Biotechnology2.5% → 0.9%−1.6 pts
- Banks13.4% → 12.0%−1.4 pts
- Fertilizers & Agrochemicals2.2% → 1.1%−1.2 pts
- Petroleum Products5.5% → 5.0%−0.5 pts
- Consumer Durables1.3% → 1.1%−0.2 pts
- Ferrous Metals6.6% → 6.4%−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 | Feb 2026 | Apr 2026 | May 2026 |
|---|---|---|---|
| Banks | 14.6% | 13.4% | 12.0% |
| Healthcare Services | 7.3% | 7.7% | 8.6% |
| Finance | 8.9% | 8.3% | 8.1% |
| Power | 3.9% | 6.6% | 7.5% |
| Cement & Cement Products | 8.8% | 6.9% | 6.9% |
| Ferrous Metals | 6.2% | 6.6% | 6.4% |
| Insurance | 5.4% | 5.2% | 5.3% |
| Industrial Products | 3.4% | 3.8% | 5.0% |
| Petroleum Products | 6.4% | 5.5% | 5.0% |
| Construction | 4.8% | 4.6% | 4.4% |
Allocation in May 2026change vs Apr 2026
- Banks (5)12.0%▼ 1.4 pts
- Healthcare Services (3)
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, May 2026
3.0%
▼ 0.5 pts vs Apr 2026
- Cash alone
- 3.0%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 1.0% – 3.5%
- lowest to highest · record 3.5% in Apr 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.