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Sectoral / Thematic · Union Mutual Fund · AMFI code 152409Union Business Cycle Fund
Disclosed for 5 months, May 2026 to Sep 2026.Published as: UNION BUSINESS CYCLE FUND
Portfolio value
₹485 Cr
down ₹32.8 Cr vs Aug 2026
- Stocks held
- 61
- up 2 vs Aug 2026
- Top 10 weight
- 30.7%
- of the portfolio in its ten largest
- Cash & debt
- 5.3%
- cash, money market and debt
- Moves this month
- 6 in · 4 out
- added to 10, trimmed 40
Union Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from Union Mutual Fund. In September 2026 it disclosed 61 stocks worth ₹485 Cr, down ₹32.8 Cr from Aug 2026. Its largest positions were ICICI Bank Limited (6.3%), Larsen & Toubro Limited (3.6%), Axis Bank Limited (3.4%); the ten largest together made up 30.7% of the portfolio, and Banks was the biggest sector at 20.1% of its equity. Cash and debt stood at 5.3%. Compared with Aug 2026 the fund entered 6 new stocks and exited 4.
Against 226 other Sectoral / Thematic funds
Concentration
8%
Top-10 weight is higher than 8% of peers
Breadth
86%
Holds more stocks than 86% of peers
Cash
75%
Holds more cash than 75% 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
- 6.34%
- Δ weight
- down 0.09 pts
- Value
- ₹30.7 Cr
- Δ value
- down ₹2.6 Cr
- Status
- Trimmed
- Cash, TREPS & receivables
- Weight
- 5.17%
- Δ weight
- up 1.05 pts
- Value
- ₹25.1 Cr
- Δ value
- up ₹3.7 Cr
- Status
- Added
- Weight
- 3.62%
- Δ weight
- down 0.62 pts
- Value
- ₹17.6 Cr
- Δ value
- down ₹4.4 Cr
- Status
- Trimmed
- Weight
- 3.38%
- Δ weight
- up 0.33 pts
- Value
- ₹16.4 Cr
- Δ value
- up ₹58 L
- Status
- Added
- Weight
- 2.94%
- Δ weight
- up 0.19 pts
- Value
- ₹14.2 Cr
- Δ value
- down ₹1 L
- Status
- Held
- Weight
- 2.58%
- Δ weight
- down 0.73 pts
- Value
- ₹12.5 Cr
- Δ value
- down ₹4.7 Cr
- Status
- Trimmed
- Weight
- 2.53%
- Δ weight
- up 0.21 pts
- Value
- ₹12.3 Cr
- Δ value
- up ₹25 L
- Status
- Added
- Weight
- 2.46%
- Δ weight
- up 0.25 pts
- Value
- ₹11.9 Cr
- Δ value
- up ₹51 L
- Status
- Added
- Shriram Transport Finance Company LimitedShriram Finance Limited · history in this fund
- Weight
- 2.30%
- Δ weight
- down 0.50 pts
- Value
- ₹11.1 Cr
- Δ value
- down ₹3.3 Cr
- Status
- Trimmed
- Weight
- 2.29%
- Δ weight
- up <0.01 pts
- Value
- ₹11.1 Cr
- Δ value
- down ₹73 L
- Status
- Trimmed
- Weight
- 2.23%
- Δ weight
- up 0.03 pts
- Value
- ₹10.8 Cr
- Δ value
- down ₹56 L
- Status
- Trimmed
- Weight
- 2.18%
- Δ weight
- up 0.08 pts
- Value
- ₹10.6 Cr
- Δ value
- down ₹31 L
- Status
- Trimmed
- Weight
- 2.16%
- Δ weight
- down 0.04 pts
- Value
- ₹10.5 Cr
- Δ value
- down ₹93 L
- Status
- Trimmed
- Weight
- 2.04%
- Δ weight
- up 0.24 pts
- Value
- ₹9.9 Cr
- Δ value
- up ₹56 L
- Status
- Added
- Weight
- 1.96%
- Δ weight
- down 0.01 pts
- Value
- ₹9.5 Cr
- Δ value
- down ₹72 L
- Status
- Trimmed
- Weight
- 1.87%
- Δ weight
- down 0.08 pts
- Value
- ₹9.1 Cr
- Δ value
- down ₹1 Cr
- Status
- Trimmed
- Weight
- 1.85%
- Δ weight
- down 0.09 pts
- Value
- ₹9 Cr
- Δ value
- down ₹1.1 Cr
- Status
- Trimmed
- Weight
- 1.82%
- Δ weight
- down 0.11 pts
- Value
- ₹8.8 Cr
- Δ value
- down ₹1.2 Cr
- Status
- Trimmed
- Weight
- 1.73%
- Δ weight
- down 0.10 pts
- Value
- ₹8.4 Cr
- Δ value
- down ₹1.1 Cr
- Status
- Trimmed
- Weight
- 1.72%
- Δ weight
- up 0.09 pts
- Value
- ₹8.4 Cr
- Δ value
- down ₹10 L
- Status
- Trimmed
- Weight
- 1.70%
- Δ weight
- up 0.03 pts
- Value
- ₹8.2 Cr
- Δ value
- down ₹39 L
- Status
- Trimmed
- Weight
- 1.67%
- Δ weight
- down 0.26 pts
- Value
- ₹8.1 Cr
- Δ value
- down ₹1.9 Cr
- Status
- Trimmed
- Weight
- 1.64%
- Δ weight
- down <0.01 pts
- Value
- ₹8 Cr
- Δ value
- down ₹54 L
- Status
- Trimmed
- Weight
- 1.58%
- Δ weight
- down 0.03 pts
- Value
- ₹7.6 Cr
- Δ value
- down ₹69 L
- Status
- Trimmed
- Weight
- 1.57%
- Δ weight
- up 0.01 pts
- Value
- ₹7.6 Cr
- Δ value
- down ₹44 L
- Status
- Trimmed
- Weight
- 1.51%
- Δ weight
- down 0.96 pts
- Value
- ₹7.3 Cr
- Δ value
- down ₹5.5 Cr
- Status
- Trimmed
- Weight
- 1.46%
- Δ weight
- up 0.25 pts
- Value
- ₹7.1 Cr
- Δ value
- up ₹83 L
- Status
- Added
- Weight
- 1.45%
- Δ weight
- up 0.11 pts
- Value
- ₹7 Cr
- Δ value
- up ₹11 L
- Status
- Added
- Weight
- 1.44%
- Δ weight
- up 1.44 pts
- Value
- ₹7 Cr
- Δ value
- up ₹7 Cr
- Status
- New
- Weight
- 1.36%
- Δ weight
- up 1.36 pts
- Value
- ₹6.6 Cr
- Δ value
- up ₹6.6 Cr
- Status
- New
- Weight
- 1.35%
- Δ weight
- up 0.07 pts
- Value
- ₹6.6 Cr
- Δ value
- down ₹8 L
- Status
- Trimmed
- Weight
- 1.34%
- Δ weight
- up 0.46 pts
- Value
- ₹6.5 Cr
- Δ value
- up ₹1.9 Cr
- Status
- Added
- Weight
- 1.33%
- Δ weight
- up 0.06 pts
- Value
- ₹6.4 Cr
- Δ value
- down ₹13 L
- Status
- Trimmed
- Weight
- 1.32%
- Δ weight
- down 0.10 pts
- Value
- ₹6.4 Cr
- Δ value
- down ₹96 L
- Status
- Trimmed
- Weight
- 1.32%
- Δ weight
- down 0.09 pts
- Value
- ₹6.4 Cr
- Δ value
- down ₹90 L
- Status
- Trimmed
- Weight
- 1.25%
- Δ weight
- up <0.01 pts
- Value
- ₹6.1 Cr
- Δ value
- down ₹39 L
- Status
- Trimmed
- Weight
- 1.24%
- Δ weight
- down 0.01 pts
- Value
- ₹6 Cr
- Δ value
- down ₹43 L
- Status
- Trimmed
- Weight
- 1.22%
- Δ weight
- up 0.01 pts
- Value
- ₹5.9 Cr
- Δ value
- down ₹32 L
- Status
- Trimmed
- Weight
- 1.18%
- Δ weight
- down 0.68 pts
- Value
- ₹5.7 Cr
- Δ value
- down ₹3.9 Cr
- Status
- Trimmed
- Weight
- 1.14%
- Δ weight
- up 0.10 pts
- Value
- ₹5.5 Cr
- Δ value
- up ₹16 L
- Status
- Added
- Weight
- 1.12%
- Δ weight
- down 0.04 pts
- Value
- ₹5.4 Cr
- Δ value
- down ₹59 L
- Status
- Trimmed
- Weight
- 1.09%
- Δ weight
- down 0.07 pts
- Value
- ₹5.3 Cr
- Δ value
- down ₹72 L
- Status
- Trimmed
- Weight
- 1.09%
- Δ weight
- down 0.08 pts
- Value
- ₹5.3 Cr
- Δ value
- down ₹76 L
- Status
- Trimmed
- Weight
- 1.09%
- Δ weight
- down 0.02 pts
- Value
- ₹5.3 Cr
- Δ value
- down ₹44 L
- Status
- Trimmed
- Weight
- 1.09%
- Δ weight
- down 0.28 pts
- Value
- ₹5.3 Cr
- Δ value
- down ₹1.8 Cr
- Status
- Trimmed
- Weight
- 1.08%
- Δ weight
- down 0.04 pts
- Value
- ₹5.2 Cr
- Δ value
- down ₹54 L
- Status
- Trimmed
- Weight
- 1.02%
- Δ weight
- up 0.02 pts
- Value
- ₹4.9 Cr
- Δ value
- down ₹25 L
- Status
- Trimmed
- Weight
- 1.02%
- Δ weight
- up 0.25 pts
- Value
- ₹4.9 Cr
- Δ value
- up ₹98 L
- Status
- Added
- Weight
- 1.01%
- Δ weight
- down 0.04 pts
- Value
- ₹4.9 Cr
- Δ value
- down ₹55 L
- Status
- Trimmed
- Weight
- 0.90%
- Δ weight
- up 0.90 pts
- Value
- ₹4.3 Cr
- Δ value
- up ₹4.3 Cr
- Status
- New
- Weight
- 0.86%
- Δ weight
- down 0.04 pts
- Value
- ₹4.2 Cr
- Δ value
- down ₹47 L
- Status
- Trimmed
- Weight
- 0.85%
- Δ weight
- up 0.85 pts
- Value
- ₹4.1 Cr
- Δ value
- up ₹4.1 Cr
- Status
- New
- Weight
- 0.79%
- Δ weight
- up <0.01 pts
- Value
- ₹3.8 Cr
- Δ value
- down ₹26 L
- Status
- Trimmed
- Weight
- 0.75%
- Δ weight
- up 0.75 pts
- Value
- ₹3.6 Cr
- Δ value
- up ₹3.6 Cr
- Status
- New
- Weight
- 0.75%
- Δ weight
- up 0.43 pts
- Value
- ₹3.6 Cr
- Δ value
- up ₹2 Cr
- Status
- Added
- Weight
- 0.74%
- Δ weight
- up 0.25 pts
- Value
- ₹3.6 Cr
- Δ value
- up ₹1.1 Cr
- Status
- Added
- Weight
- 0.69%
- Δ weight
- up 0.24 pts
- Value
- ₹3.3 Cr
- Δ value
- up ₹1 Cr
- Status
- Added
- Weight
- 0.67%
- Δ weight
- up 0.03 pts
- Value
- ₹3.3 Cr
- Δ value
- down ₹9 L
- Status
- Trimmed
- Weight
- 0.59%
- Δ weight
- up 0.05 pts
- Value
- ₹2.9 Cr
- Δ value
- up ₹6 L
- Status
- Added
- Weight
- 0.55%
- Δ weight
- up 0.09 pts
- Value
- ₹2.7 Cr
- Δ value
- up ₹29 L
- Status
- Added
- Weight
- 0.51%
- Δ weight
- down 0.34 pts
- Value
- ₹2.5 Cr
- Δ value
- down ₹1.9 Cr
- Status
- Trimmed
- Weight
- 0.34%
- Δ weight
- up 0.34 pts
- Value
- ₹1.6 Cr
- Δ value
- up ₹1.6 Cr
- Status
- New
- 91 Day Treasury BillsDebt
- Weight
- 0.09%
- Δ weight
- up 0.01 pts
- Value
- ₹42 L
- Δ value
- up ₹0 L
- Status
- Held
- 91 Day Treasury BillsDebt
- Weight
- 0.08%
- Δ weight
- up 0.08 pts
- Value
- ₹40 L
- Δ value
- up ₹40 L
- Status
- New
What changed, Aug 2026 to Sep 2026
New New positions (6)
- HDFC Life Insurance Company Limited1.4% · ₹7 Cr
- Kotak Mahindra Bank Limited1.4% · ₹6.6 Cr
- Jindal Steel & Power Limited0.9% · ₹4.3 Cr
- MTAR Technologies Limited0.9% · ₹4.1 Cr
- Hindustan Aeronautics Limited0.8% · ₹3.6 Cr
- Go Digit General Insurance Ltd0.3% · ₹1.6 Cr
Exited Exited (4)
- Prestige Estates Projects Limitedwas 2.1% · ₹10.6 Cr
- KEI Industries 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 Aug 2026, the weight rose most in Banks (+2.0 pts) and Insurance (+1.9 pts), and fell most in Realty (−2.1 pts) and Finance (−1.7 pts).
- Banks18.2% → 20.1%+2.0 pts
- Insurance0.0% → 1.9%new+1.9 pts
- Aerospace & Defense2.5% → 4.2%+1.7 pts
- Pharmaceuticals & Biotechnology7.1% → 8.2%+1.1 pts
- Healthcare Services3.9% → 4.5%+0.6 pts
- Textiles & Apparels3.8% → 4.1%+0.3 pts
- Realty2.1% → 0.0%exited−2.1 pts
- Finance6.4% → 4.7%−1.7 pts
- IT - Software6.2% → 5.2%−1.0 pts
- Industrial Products5.0% → 4.1%−0.9 pts
- Financial Technology (fintech)3.5% → 2.7%−0.7 pts
- Telecom - Services1.9% → 1.3%−0.7 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 | Jun 2026 | Aug 2026 | Sep 2026 |
|---|---|---|---|
| Banks | 26.9% | 18.2% | 20.1% |
| Pharmaceuticals & Biotechnology | 4.8% | 7.1% | 8.2% |
| Construction | 8.8% | 6.8% | 6.4% |
| Chemicals & Petrochemicals | 5.8% | 5.8% | 5.8% |
| IT - Software | 2.9% | 6.2% | 5.2% |
| Finance | 4.6% | 6.4% | 4.7% |
| Healthcare Services | 3.8% | 3.9% | 4.5% |
| Aerospace & Defense | 5.7% | 2.5% | 4.2% |
| Textiles & Apparels | 1.6% | 3.8% | 4.1% |
| Industrial Products | 5.2% | 5.0% | 4.1% |
Allocation in Sep 2026change vs Aug 2026
- Banks (7)20.1%▲ 2.0 pts
- Pharmaceuticals & Biotechnology (6)8.2%
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
5.3%
▲ 1.1 pts vs Aug 2026
- Cash alone
- 5.2%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 2.7% – 5.3%
- lowest to highest · record 5.3% 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.