HDFC Business Cycle Fund
The fund is positioned to benefit from economic recovery across cyclical sectors, with heavy concentration in financial services and consumer discretionary plays that thrive during growth phases. The manager's recent additions in fintech and defence suggest conviction in emerging structural themes within the cycle, while trimming ICICI Bank signals tactical profit-taking rather than sector conviction. The elevated cash position and 61-stock portfolio indicate a balanced approach, though top-10 concentration at 47% remains moderately high for a thematic fund.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Primary | ₹14.1340 | +0.58% | -0.35% | +11.39% | — |
Portfolio Metrics(latest month)
vs Category Peers
Highly DifferentiatedActive 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 |
|---|---|
| PB Fintech Limited | 1.56% |
| Bharat Dynamics Limited | 0.97% |
| NUVAMA WEALTH MANAGEMENT LTD. | 0.09% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | TREPS - Tri-party Repo | 7.01% |
| 2 | Bharti Airtel Ltd. INE397D01024 | 6.21% |
| 3 | Eternal Limited INE758T01015 | 5.19% |
| 4 | ICICI Bank Ltd. INE090A01021 | 5.06% |
| 5 | Kotak Mahindra Bank Limited INE237A01036 | 4.96% |
| 6 | Titan Company Ltd. INE280A01028 | 4.33% |
| 7 | Anthem Biosciences Limited INE0CZ201020 | 3.90% |
| 8 | HDFC Bank Ltd.£ INE040A01034 | 3.59% |
| 9 | Fortis Healthcare Limited INE061F01013 | 3.35% |
| 10 | Vishal Mega Mart Limited INE01EA01019 | 3.10% |
| 11 | InterGlobe Aviation Ltd. INE646L01027 | 2.74% |
| 12 | Cholamandalam Investment & Finance Co. Ltd. INE121A01024 | 2.69% |
| 13 | Aptus Value Housing Finance India Ltd INE852O01025 | 2.68% |
| 14 | Aether Industries Ltd INE0BWX01014 | 2.45% |
| 15 | Bajaj Auto Limited INE917I01010 | 2.44% |
| 16 | Indusind Bank Ltd. INE095A01012 | 2.31% |
| 17 | Clean Max Enviro Energy Solutions Limited INE647U01026 | 2.08% |
| 18 | Home First Finance Company India Ltd INE481N01025 | 1.94% |
| 19 | Eris Lifesciences Ltd INE406M01024 | 1.91% |
| 20 | PB Fintech Limited INE417T01026 | 1.56% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does HDFC Business Cycle Fund hold?
HDFC Business Cycle Fund holds 59 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 25.75% of NAV.
What is the largest holding in HDFC Business Cycle Fund?
The largest position in HDFC Business Cycle Fund is TREPS - Tri-party Repo, accounting for 7.01% of NAV.
Is HDFC Business Cycle Fund a concentrated or diversified fund?
With a Gini coefficient of 0.467, HDFC Business Cycle Fund is moderately concentrated. The HHI concentration index is 26,303 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 25.75% of the portfolio.
What is the market cap allocation of HDFC Business Cycle Fund?
Based on SEBI's AMFI classification, HDFC Business Cycle Fund's equity portfolio is split as: Large Cap: 38.03%, Mid Cap: 21.89%, Small Cap: 22.50%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does HDFC Business Cycle Fund invest in most?
HDFC Business Cycle Fund has the highest allocation to Banks (16.33%), Retailing (10.33%), Finance (9.35%). The fund is invested across 28 sectors in total.
How actively managed is HDFC Business Cycle Fund compared to other Sectoral / Thematic funds?
HDFC Business Cycle Fund has an Active Share of 76.10%, classifying it as "Highly Differentiated" among 237 Sectoral / Thematic peers. This means the fund takes significantly different stock positions compared to its category peers.
What changed in HDFC Business Cycle Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, HDFC Business Cycle Fund added 3 new stocks (including PB Fintech Limited) and exited 5 stocks (including Balkrishna Industries Ltd.). Total holding count decreased from 63 to 61 stocks.