Kotak Business Cycle Fund
Kotak Mutual Fund·Sectoral / Thematic·vs Nifty 500 TRI
The fund is positioned for a cyclical recovery centered on banking and healthcare, with modest diversification across 56 holdings. However, the manager's recent shift toward Vedanta group commodities while trimming defensive pharma exposure signals growing conviction in economic acceleration and cyclical upside over defensive plays. The elevated cash position through repo suggests tactical flexibility rather than defensive hedging.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Regular Growth | ₹15.9220 | +1.89% | -1.55% | -3.99% | +3.60% | +16.04% | — |
Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.
Portfolio Metrics(latest month)
Holdings
54
Top 5 Weight
23.33%
Top 10 Weight
37.83%
Active Share
—
Large Cap
45.97%
Gini
0.354
What Changed2026-03-31 → 2026-04-30
Holdings: 56 → 56+5 added−5 removed20 weight shifts ≥ 0.1%
| Stock | Weight |
|---|---|
| VEDANTA LTD. | 0.71% |
| MALCO ENERGY LIMITED | 0.32% |
| VEDANTA ALUMINIUM METAL LTD | 0.32% |
| TALWANDI SABO POWER LTD. | 0.32% |
| VEDANTA IRON & STEEL LTD | 0.32% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | ICICI BANK LTD. INE090A01021 | 8.18% |
| 2 | AXIS BANK LTD. INE238A01034 | 4.23% |
| 3 | ADITYA INFOTECH LIMITED INE819V01029 | 3.86% |
| 4 | ASTER DM HEALTHCARE LTD INE914M01019 | 3.82% |
| 5 | ETERNAL LIMITED INE758T01015 | 3.24% |
| 6 | KRISHNA INSTITUTE OF MEDICAL INE967H01025 | 3.22% |
| 7 | BHARTI HEXACOM LTD. INE343G01021 | 3.13% |
| 8 | Triparty Repo | 2.97% |
| 9 | HDFC BANK LTD. INE040A01034 | 2.80% |
| 10 | VIJAYA DIAGNOSTIC CENTRE PVT INE043W01024 | 2.72% |
| 11 | SHRIRAM FINANCE LIMITED INE721A01047 | 2.63% |
| 12 | Maruti Suzuki India Limited INE585B01010 | 2.59% |
| 13 | VISHAL MEGA MART LIMITED INE01EA01019 | 2.49% |
| 14 | Avenue Supermarts Ltd INE192R01011 | 2.30% |
| 15 | GODREJ CONSUMER PRODUCTS LTD. INE102D01028 | 2.27% |
| 16 | 360 ONE WAM LIMITED INE466L01038 | 2.23% |
| 17 | Century Plyboards (India) Ltd. INE348B01021 | 2.22% |
| 18 | INDIAN BANK INE562A01011 | 2.17% |
| 19 | Mahindra & Mahindra Ltd. INE101A01026 | 2.17% |
| 20 | ICICI Lombard General Insurance Company Ltd INE765G01017 | 1.99% |
Sector Allocation
Banks17.4%
Healthcare Services9.8%
Retailing8.5%
Automobiles5.8%
IT - Software5.3%
Insurance4.7%
Realty4.3%
Finance3.9%
Industrial Manufacturing3.9%
Consumer Durables3.4%
Top 10 sectors by % to NAV. Excludes derivatives.