Axis Business Cycles Fund
The fund maintains a cyclical tilt with heavy banking and construction exposure, betting on economic recovery and infrastructure momentum. The manager's conviction shows through a focused top-10 representing nearly 30% of assets, though recent portfolio turnover—adding 15 names while exiting 13—suggests tactical repositioning toward value plays in financials and auto components while trimming defensive consumer stocks. This signals confidence in near-term growth but wariness about valuations in secular gainers.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Direct Growth | ₹16.9400 | — | — | — | — |
| Regular Growth | ₹16.2300 | +1.12% | +0.81% | +14.65% | — |
| Direct IDCW | ₹16.9300 | — | — | — | — |
| Regular IDCW | ₹16.2300 | — | — | — | — |
Portfolio Metrics(latest month)
vs Category Peers
Active Stock PickerActive Share = ½Σ|wfund − wpeer|, computed using leave-one-out peer portfolio within SEBI category.
Similar Funds in Category
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| HDFC Asset Management Company Limited | 1.01% |
| PNB Housing Finance Limited | 0.98% |
| Bosch Limited | 0.96% |
| Coforge Limited | 0.93% |
| Bandhan Bank Limited | 0.72% |
| Page Industries Limited | 0.68% |
| Welspun Corp Limited | 0.63% |
| Hindustan Aeronautics Limited | 0.36% |
| Sapphire Foods India Limited | 0.29% |
| 360 One WAM Limited | 0.26% |
| Deepak Nitrite Limited | 0.07% |
| NIFTY 23600 Put May 2026 Option | 0.05% |
| Bank Nifty Index 56000 Call May 2026 Option | 0.03% |
| NIFTY 23500 Put May 2026 Option | 0.01% |
| NIFTY 24500 Call May 2026 Option | 0.01% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Larsen & Toubro Limited INE018A01030 | 4.00% |
| 2 | Axis Bank Limited INE238A01034 | 3.47% |
| 3 | ICICI Bank Limited INE090A01021 | 3.39% |
| 4 | HDFC Bank Limited INE040A01034 | 3.18% |
| 5 | UltraTech Cement Limited INE481G01011 | 2.76% |
| 6 | Kotak Mahindra Bank Limited INE237A01036 | 2.61% |
| 7 | Mahindra & Mahindra Limited INE101A01026 | 2.54% |
| 8 | Net Receivables / (Payables) | 2.49% |
| 9 | Reliance Industries Limited INE002A01018 | 2.45% |
| 10 | Bharti Airtel Limited INE397D01024 | 2.42% |
| 11 | NTPC Limited INE733E01010 | 2.25% |
| 12 | IndusInd Bank Limited INE095A01012 | 2.22% |
| 13 | Aether Industries Limited INE0BWX01014 | 2.01% |
| 14 | BSE Limited INE118H01025 | 1.99% |
| 15 | Hindustan Unilever Limited INE030A01027 | 1.84% |
| 16 | Cummins India Limited INE298A01020 | 1.79% |
| 17 | One 97 Communications Limited INE982J01020 | 1.72% |
| 18 | Jindal Steel Limited INE749A01030 | 1.66% |
| 19 | Aarti Industries Limited INE769A01020 | 1.55% |
| 20 | Bharat Heavy Electricals Limited INE257A01026 | 1.48% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does Axis Business Cycles Fund hold?
Axis Business Cycles Fund holds 82 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 16.80% of NAV.
What is the largest holding in Axis Business Cycles Fund?
The largest position in Axis Business Cycles Fund is Larsen & Toubro Limited, accounting for 4.00% of NAV in the Construction sector.
Is Axis Business Cycles Fund a concentrated or diversified fund?
With a Gini coefficient of 0.351, Axis Business Cycles Fund is well-diversified. The HHI concentration index is 16,888 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 16.80% of the portfolio.
What is the market cap allocation of Axis Business Cycles Fund?
Based on SEBI's AMFI classification, Axis Business Cycles Fund's equity portfolio is split as: Large Cap: 47.42%, Mid Cap: 23.72%, Small Cap: 22.26%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does Axis Business Cycles Fund invest in most?
Axis Business Cycles Fund has the highest allocation to Banks (17.46%), Chemicals & Petrochemicals (6.49%), Finance (5.14%). The fund is invested across 34 sectors in total.
How actively managed is Axis Business Cycles Fund compared to other Sectoral / Thematic funds?
Axis Business Cycles Fund has an Active Share of 66.63%, classifying it as "Active Stock Picker" among 237 Sectoral / Thematic peers. This indicates a moderate level of differentiation from category peers.
What changed in Axis Business Cycles Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, Axis Business Cycles Fund added 15 new stocks (including HDFC Asset Management Company Limited) and exited 13 stocks (including Torrent Pharmaceuticals Limited). Total holding count increased from 81 to 83 stocks.