ICICI Prudential Business Cycle Fund
The portfolio remains heavily anchored to cyclical recovery plays, with banking dominating at over 23 percent and automobiles plus construction together representing a third of holdings. Recent shifts—trimming defensive utilities and LIC while adding energy and infrastructure picks—suggest the manager is doubling down on an economy accelerating through the cycle. The concentrated top-10 stance of nearly 50 percent signals conviction in large-cap quality plays rather than broad exposure.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Primary | ₹25.8400 | -1.07% | +2.91% | +20.39% | +18.76% |
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 |
|---|---|
| Hindustan Petroleum Corporation Ltd. | 0.25% |
| SIEMENS ENERGY INDIA LTD | 0.11% |
| 182 Days Treasury Bills | 0.23% |
| 182 Days Treasury Bills | 0.09% |
| 91 Days Treasury Bills | 0.02% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | HDFC Bank Ltd. INE040A01034 | 9.35% |
| 2 | ICICI Bank Ltd. INE090A01021 | 7.20% |
| 3 | Larsen & Toubro Ltd. INE018A01030 | 7.05% |
| 4 | Reliance Industries Ltd. INE002A01018 | 5.77% |
| 5 | Maruti Suzuki India Ltd. INE585B01010 | 4.05% |
| 6 | Axis Bank Ltd. INE238A01034 | 3.35% |
| 7 | Ultratech Cement Ltd. INE481G01011 | 3.20% |
| 8 | Bharti Airtel Ltd. INE397D01024 | 3.15% |
| 9 | NTPC Ltd. INE733E01010 | 3.14% |
| 10 | Kotak Mahindra Bank Ltd. INE237A01036 | 3.10% |
| 11 | Xtrackers Harvest CSI 300 China A-Shares ETF US2330518794 | 2.98% |
| 12 | HDFC Life Insurance Company Ltd. INE795G01014 | 2.84% |
| 13 | TREPS | 2.76% |
| 14 | DLF Ltd. INE271C01023 | 2.66% |
| 15 | Hero Motocorp Ltd. INE158A01026 | 2.08% |
| 16 | Asian Paints Ltd. INE021A01026 | 2.05% |
| 17 | Mahindra & Mahindra Ltd. INE101A01026 | 1.86% |
| 18 | Cummins India Ltd. INE298A01020 | 1.86% |
| 19 | SBI Life Insurance Company Ltd. INE123W01016 | 1.69% |
| 20 | Interglobe Aviation Ltd. INE646L01027 | 1.69% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does ICICI Prudential Business Cycle Fund hold?
ICICI Prudential Business Cycle Fund holds 79 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 33.41% of NAV.
What is the largest holding in ICICI Prudential Business Cycle Fund?
The largest position in ICICI Prudential Business Cycle Fund is HDFC Bank Ltd., accounting for 9.35% of NAV in the Banks sector.
Is ICICI Prudential Business Cycle Fund a concentrated or diversified fund?
With a Gini coefficient of 0.613, ICICI Prudential Business Cycle Fund is moderately concentrated. The HHI concentration index is 35,690 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 33.41% of the portfolio.
What is the market cap allocation of ICICI Prudential Business Cycle Fund?
Based on SEBI's AMFI classification, ICICI Prudential Business Cycle Fund's equity portfolio is split as: Large Cap: 72.03%, Mid Cap: 10.23%, Small Cap: 8.14%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does ICICI Prudential Business Cycle Fund invest in most?
ICICI Prudential Business Cycle Fund has the highest allocation to Banks (23.11%), Automobiles (10.59%), Construction (7.05%). The fund is invested across 29 sectors in total.
How actively managed is ICICI Prudential Business Cycle Fund compared to other Sectoral / Thematic funds?
ICICI Prudential Business Cycle Fund has an Active Share of 71.37%, 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 ICICI Prudential Business Cycle Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, ICICI Prudential Business Cycle Fund added 5 new stocks (including Hindustan Petroleum Corporation Ltd.) and exited 7 stocks (including Life Insurance Corporation of India). Total holding count decreased from 84 to 82 stocks.