What stocks does HSBC Business Cycles Fund hold?

HSBC Business Cycles Fund holds a portfolio of Indian equity stocks disclosed monthly by HSBC Mutual Fund to AMFI. The complete current holdings with weights and month-over-month changes are available on this page. Data is sourced from official AMFI portfolio disclosures.

Which AMC manages HSBC Business Cycles Fund?

HSBC Business Cycles Fund is managed by HSBC Mutual Fund, a SEBI-registered Asset Management Company in India.

What category is HSBC Business Cycles Fund?

HSBC Business Cycles Fund is classified as a Equity mutual fund under SEBI's mutual fund categorisation framework.

How often is HSBC Business Cycles Fund portfolio data updated?

Portfolio holdings for HSBC Business Cycles Fund are updated monthly. SEBI mandates all AMCs to disclose their complete portfolio within 10 days of each month end. RightAdvise sources this data directly from official AMFI portfolio disclosures.

← HSBC Mutual Fund

HSBC Business Cycles Fund - Direct Growth

Equity Data as of Jul 2026 Comparing Jun 2026 → Jul 2026

Share: WhatsApp X

⌕

Stocks Held

Jul 2026

Equity Holdings

₹1,156.37 Cr

Equity only, excl. debt & cash

AAUM

₹1,089.70 Cr

Apr-Jun 2026 · Direct + Regular

Top 5 Weight

17.4%

Diversified

Top 10 Weight

28.9%

Diversified

Changes

3 new · 2 exits

Top Sector

Banks

15.0% of portfolio

Launch Date

30 Jul 2014

10+ year track record

AAUM (Average Assets Under Management) of ₹1,089.70 Cr for Apr-Jun 2026 is the combined figure across Direct and Regular plans — sourced from AMFI India's quarterly disclosure. Equity Holdings above shows only the stock portion from the latest portfolio filing.

📋 What Happened This Month HSBC Business Cycles Fund made 3 new additions and exited 2 stocks this month. The biggest new buy was OPTIEMUS INFRACOM LIMITED (Telecom - Equipment & Accessories) at 0.63% weight. Power Finance Corporation Limited was the biggest exit (Finance), which was held at 2.16%. Among existing holdings, R R Kabel Limited saw the biggest increase — now at 1.32% of the portfolio. MTAR Technologies Limited was trimmed the most, now at 2.85%. ICICI Bank Limited remains the top holding with Banks the dominant sector at 15.0%. ↓ Scroll down for full holdings, sector allocation and month-on-month changes in detail.

How Has the NAV Performed?

1 year history · HSBC Business Cycles Fund - Direct Growth

+5.83%

+5.78%

+8.84%

+4.71%

Latest NAV

₹49.43

24 Aug 2026

52W High

₹49.58

-0% from High

52W Low

₹38.05

+30% from Low

Calendar Year Returns

Jan 1 to Dec 31 each year. Simple point-to-point — not CAGR.

2025

-1.6%

2024

+37.8%

2023

+32.7%

Rolling Returns

Performance across every possible investment start date.

1Y Rolling Avg

22.5%

+ve in 82% windows

60.7% / -8.4%

3Y Rolling Avg

19.5% p.a.

+ve in 100% windows

23.2% / 15.8%

Crisis Period Behaviour

"Pre-inception" = fund didn't exist during that period.

2024–25 Tariff

-23.4%

Rec: not yet

COVID-19 Crash

Pre-inception

Rec: N/A

2022 Rate Hike

Pre-inception

Rec: N/A

2018 IL&FS

Pre-inception

Rec: N/A

Risk Ratios

3 years daily NAV · Risk-free rate 6.5% p.a. · CAGR, Sharpe Ratio & Standard Deviation — Mutual Fund Guide →

Sharpe Ratio (3Y)

0.62

Return per unit of risk. >1 is good.

Sortino Ratio (3Y)

0.86

Penalises downside volatility only.

Std Deviation (3Y)

18.0%

Lower = more consistent returns.

NAV Chart ₹49.43 24 Aug 2026

Simple Moving Avg: Click to draw · click again to remove

HSBC Business Cycles Fund - Direct Growth

Chart shows indexed performance (base = 100). Actual NAV: ₹49.43

Sector Shift Industry allocation month-over-month

May 2026 → Jun 2026

Sector	Prev	Curr ▼	Delta
Banks	14.4%	14.9%	▲ +0.5%
Capital Markets	11.6%	10.0%	▼ -1.5%
Aerospace & Defense	8.9%	8.5%	▼ -0.4%
Finance	6.7%	6.8%	● +0.1%
Construction	6.5%	6.6%	▲ +0.2%
Retailing	6.2%	5.9%	▼ -0.3%
Industrial Products	5.0%	5.5%	▲ +0.5%
Consumer Durables	5.3%	5.4%	● +0.0%
Electrical Equipment	4.5%	4.2%	▼ -0.3%
Transport Services	2.6%	3.4%	▲ +0.9%

Jun 2026 → Jul 2026

Sector	Prev	Curr ▼	Delta
Banks	14.9%	15.0%	● +0.1%
Capital Markets	10.0%	10.6%	▲ +0.5%
Aerospace & Defense	8.5%	7.6%	▼ -0.9%
Retailing	5.9%	6.6%	▲ +0.7%
Construction	6.6%	6.3%	▼ -0.3%
Industrial Products	5.5%	5.7%	▲ +0.1%
Consumer Durables	5.4%	5.5%	▲ +0.2%
Finance	6.8%	4.9%	▼ -1.9%
Electrical Equipment	4.2%	4.6%	▲ +0.3%
Transport Services	3.4%	3.8%	▲ +0.4%

🟢

Biggest New Buy

OPTIEMUS INFRACOM LIMITED

0.63% weight · Telecom - Equipment & Accessories

🔴

Biggest Exit

Power Finance Corporation Limited

2.16% was held · Finance

↑

Biggest Add

R R Kabel Limited

+0.71% · now 1.32%

↓

Biggest Trim

MTAR Technologies Limited

-0.95% · now 2.85%

🤝 Other funds also bought this month

Diamond Power Infrastructure Limited 38 funds

HDFC Asset Management Company Limited 25 funds

OPTIEMUS INFRACOM LIMITED 3 funds

👋 Other funds also exited

Power Finance Corporation Limited 34 funds

Hi-Tech Pipes Limited 1 fund

What Changed in the Portfolio This Month?

Comparing Jun 2026 → Jul 2026

Jun 2026 → Jul 2026

🟢 3 New Entries 🔴 2 Exits ↑ 40 Increased ↓ 27 Decreased

#	Stock	Sector	Weight (Jul 2026)
1	OPTIEMUS INFRACOM LIMITED ₹7.44 Cr	Telecom - Equipment & Accessories	0.63%
2	Diamond Power Infrastructure Limited ₹7.32 Cr	Electrical Equipment	0.62%
3	HDFC Asset Management Company Limited ₹6.54 Cr	Capital Markets	0.55%

#	Stock	Sector	Last Weight (Jun 2026)
1	Power Finance Corporation Limited ₹25.59 Cr	Finance	2.16%
2	Hi-Tech Pipes Limited ₹2.29 Cr	Industrial Products	0.19%

#	Stock	Sector	Jun 2026	Jul 2026	Change
1	R R Kabel Limited ₹15.62 Cr	Industrial Products	0.61%	1.32%	+0.71%
2	Billionbrains Garage Ventures Ltd ₹11.82 Cr	Capital Markets	0.53%	1.00%	+0.47%
3	TVS Motor Company Limited ₹21.57 Cr	Automobiles	1.46%	1.82%	+0.36%
4	InterGlobe Aviation Limited ₹33.61 Cr	Transport Services	2.50%	2.84%	+0.34%
5	Sterlite Technologies Limited ₹10.22 Cr	Telecom - Equipment & Accessories	0.52%	0.86%	+0.34%
6	Home First Finance Company India Limited ₹11.81 Cr	Finance	0.72%	1.00%	+0.28%
7	ICICI Bank Limited ₹68.18 Cr	Banks	5.52%	5.77%	+0.25%
8	Swiggy Limited ₹18.16 Cr	Retailing	1.29%	1.54%	+0.25%
9	Eternal Limited ₹19.44 Cr	Retailing	1.44%	1.64%	+0.20%
10	Time Technoplast Limited ₹17.19 Cr	Industrial Products	1.25%	1.45%	+0.20%
11	INDIAN HUME PIPE COMPANY LIMITED ₹13.02 Cr	N.A.	0.93%	1.10%	+0.17%
12	Hindustan Aeronautics Limited ₹29.64 Cr	Aerospace & Defense	2.36%	2.51%	+0.15%
13	PARADEEP PHOSPHATES LIMITED ₹19.17 Cr	Fertilizers & Agrochemicals	1.50%	1.62%	+0.12%
14	Titan Company Limited ₹14.14 Cr	Consumer Durables	1.08%	1.20%	+0.12%
15	UltraTech Cement Limited ₹23.33 Cr	Cement & Cement Products	1.86%	1.97%	+0.11%
16	Electronics Mart India Limited ₹18.90 Cr	Retailing	1.49%	1.60%	+0.11%
17	Prudent Corporate Advisory Services Limited ₹14.81 Cr	Capital Markets	1.14%	1.25%	+0.11%
18	Gujarat Fluorochemicals Limited ₹13.80 Cr	Chemicals & Petrochemicals	1.06%	1.17%	+0.11%
19	Ganesha Ecosphere Limited ₹5.32 Cr	Textiles & Apparels	0.34%	0.45%	+0.11%
20	Canara Robeco Asset Management Co Ltd/India ₹16.53 Cr	Capital Markets	1.32%	1.40%	+0.08%
21	FSN E-Commerce Ventures Limited ₹14.00 Cr	Retailing	1.10%	1.18%	+0.08%
22	Jyoti CNC Automation Ltd ₹14.98 Cr	Industrial Manufacturing	1.21%	1.27%	+0.06%
23	Shadowfax Technologies Ltd. ₹11.75 Cr	Transport Services	0.93%	0.99%	+0.06%
24	Lenskart Solutions Limited ₹7.76 Cr	Retailing	0.60%	0.66%	+0.06%
25	ABB India Limited ₹16.46 Cr	Electrical Equipment	1.34%	1.39%	+0.05%
26	PG Electroplast Limited ₹4.13 Cr	Consumer Durables	0.30%	0.35%	+0.05%
27	RBL Bank Limited ₹26.66 Cr	Banks	2.22%	2.26%	+0.04%
28	Blue Star Limited ₹14.73 Cr	Consumer Durables	1.21%	1.25%	+0.04%
29	Reliance Industries Limited ₹33.57 Cr	Petroleum Products	2.81%	2.84%	+0.03%
30	APL Apollo Tubes Limited ₹18.20 Cr	Industrial Products	1.51%	1.54%	+0.03%
31	Hindalco Industries Limited ₹16.53 Cr	Non - Ferrous Metals	1.37%	1.40%	+0.03%
32	Tata Motors Ltd ₹10.92 Cr	Agricultural, Commercial & Construction Vehicles	0.89%	0.92%	+0.03%
33	Cholamandalam Investment and Finance Company Ltd ₹9.80 Cr	Finance	0.80%	0.83%	+0.03%
34	Amara Raja Energy & Mobility Ltd ₹5.47 Cr	Auto Components	0.43%	0.46%	+0.03%
35	PNC Infratech Limited ₹4.82 Cr	Construction	0.38%	0.41%	+0.03%
36	PNB Housing Finance Limited ₹20.49 Cr	Finance	1.71%	1.73%	+0.02%
37	Devyani International Limited ₹7.41 Cr	Leisure Services	0.61%	0.63%	+0.02%
38	JSW Steel Limited ₹6.35 Cr	Ferrous Metals	0.52%	0.54%	+0.02%
39	Maruti Suzuki India Limited ₹14.23 Cr	Automobiles	1.19%	1.20%	+0.01%
40	Wakefit Innovations Limited ₹9.21 Cr	Consumer Durables	0.77%	0.78%	+0.01%

#	Stock	Sector	Jun 2026	Jul 2026	Change
1	MTAR Technologies Limited ₹33.73 Cr	Aerospace & Defense	3.80%	2.85%	-0.95%
2	Bansal Wire Industries Limited ₹3.81 Cr	Industrial Products	0.86%	0.32%	-0.54%
3	GE Vernova T&D India Limited ₹25.51 Cr	Electrical Equipment	2.47%	2.16%	-0.31%
4	Nippon Life India Asset Management Limited ₹13.94 Cr	Capital Markets	1.47%	1.18%	-0.29%
5	HDFC Bank Limited ₹36.93 Cr	Banks	3.33%	3.12%	-0.21%
6	Motilal Oswal Financial Services Limited ₹17.04 Cr	Capital Markets	1.61%	1.44%	-0.17%
7	ICICI Prudential Asset Management Company Limited ₹26.52 Cr	Capital Markets	2.39%	2.24%	-0.15%
8	Bharat Electronics Limited ₹26.15 Cr	Aerospace & Defense	2.35%	2.21%	-0.14%
9	Pine Labs Limited ₹11.32 Cr	Financial Technology (Fintech)	1.08%	0.96%	-0.12%
10	Larsen & Toubro Limited ₹26.19 Cr	Construction	2.33%	2.22%	-0.11%
11	INDO COUNT INDUSTRIES LIMITED ₹12.57 Cr	Textiles & Apparels	1.16%	1.06%	-0.10%
12	Power Mech Projects Limited ₹13.64 Cr	Construction	1.24%	1.15%	-0.09%
13	Ahluwalia Contracts (India) Limited ₹22.58 Cr	Construction	1.99%	1.91%	-0.08%
14	Multi Commodity Exchange of India Limited ₹17.77 Cr	Capital Markets	1.58%	1.50%	-0.08%
15	Gokaldas Exports Limited ₹14.38 Cr	Textiles & Apparels	1.30%	1.22%	-0.08%
16	Titagarh Rail Systems Limited ₹13.27 Cr	Industrial Manufacturing	1.20%	1.12%	-0.08%
17	Piramal Finance Ltd ₹15.42 Cr	Finance	1.37%	1.30%	-0.07%
18	Mold-Tek Packaging Limited ₹12.28 Cr	Industrial Products	1.11%	1.04%	-0.07%
19	KEC International Limited ₹7.48 Cr	Construction	0.70%	0.63%	-0.07%
20	Bharat Bijlee Ltd. ₹4.49 Cr	Electrical Equipment	0.43%	0.38%	-0.05%
21	Kajaria Ceramics Limited ₹8.07 Cr	Consumer Durables	0.72%	0.68%	-0.04%
22	PB Fintech Limited ₹19.08 Cr	Financial Technology (Fintech)	1.64%	1.61%	-0.03%
23	Pitti Engineering Ltd ₹5.48 Cr	Industrial Manufacturing	0.49%	0.46%	-0.03%
24	Awfis Space Solutions Limited ₹4.17 Cr	Commercial Services & Supplies	0.38%	0.35%	-0.03%
25	Kotak Mahindra Bank Limited ₹21.53 Cr	Banks	1.83%	1.82%	-0.01%
26	Amber Enterprises India Limited ₹14.88 Cr	Consumer Durables	1.27%	1.26%	-0.01%
27	Sobha Limited ₹11.28 Cr	Realty	0.96%	0.95%	-0.01%

What Stocks Does This Fund Hold?

72 stocks — Jul 2026

#	Stock	Sector	Weight & Value
1	ICICI Bank Limited ₹68.18 Cr	Banks	5.77%
2	HDFC Bank Limited ₹36.93 Cr	Banks	3.12%
3	MTAR Technologies Limited ₹33.73 Cr	Aerospace & Defense	2.85%
4	InterGlobe Aviation Limited ₹33.61 Cr	Transport Services	2.84%
5	Reliance Industries Limited ₹33.57 Cr	Petroleum Products	2.84%
6	Hindustan Aeronautics Limited ₹29.64 Cr	Aerospace & Defense	2.51%
7	RBL Bank Limited ₹26.66 Cr	Banks	2.26%
8	ICICI Prudential Asset Management Company Limited ₹26.52 Cr	Capital Markets	2.24%
9	Larsen & Toubro Limited ₹26.19 Cr	Construction	2.22%
10	Bharat Electronics Limited ₹26.15 Cr	Aerospace & Defense	2.21%
11	GE Vernova T&D India Limited ₹25.51 Cr	Electrical Equipment	2.16%
12	State Bank of India ₹23.51 Cr	Banks	1.99%
13	UltraTech Cement Limited ₹23.33 Cr	Cement & Cement Products	1.97%
14	Ahluwalia Contracts (India) Limited ₹22.58 Cr	Construction	1.91%
15	TVS Motor Company Limited ₹21.57 Cr	Automobiles	1.82%
16	Kotak Mahindra Bank Limited ₹21.53 Cr	Banks	1.82%
17	PNB Housing Finance Limited ₹20.49 Cr	Finance	1.73%
18	Eternal Limited ₹19.44 Cr	Retailing	1.64%
19	PARADEEP PHOSPHATES LIMITED ₹19.17 Cr	Fertilizers & Agrochemicals	1.62%
20	PB Fintech Limited ₹19.08 Cr	Financial Technology (Fintech)	1.61%
21	Electronics Mart India Limited ₹18.90 Cr	Retailing	1.60%
22	APL Apollo Tubes Limited ₹18.20 Cr	Industrial Products	1.54%
23	Swiggy Limited ₹18.16 Cr	Retailing	1.54%
24	Multi Commodity Exchange of India Limited ₹17.77 Cr	Capital Markets	1.50%
25	Time Technoplast Limited ₹17.19 Cr	Industrial Products	1.45%
26	Motilal Oswal Financial Services Limited ₹17.04 Cr	Capital Markets	1.44%
27	Canara Robeco Asset Management Co Ltd/India ₹16.53 Cr	Capital Markets	1.40%
28	Hindalco Industries Limited ₹16.53 Cr	Non - Ferrous Metals	1.40%
29	ABB India Limited ₹16.46 Cr	Electrical Equipment	1.39%
30	R R Kabel Limited ₹15.62 Cr	Industrial Products	1.32%
31	Piramal Finance Ltd ₹15.42 Cr	Finance	1.30%
32	Jyoti CNC Automation Ltd ₹14.98 Cr	Industrial Manufacturing	1.27%
33	Amber Enterprises India Limited ₹14.88 Cr	Consumer Durables	1.26%
34	Prudent Corporate Advisory Services Limited ₹14.81 Cr	Capital Markets	1.25%
35	Blue Star Limited ₹14.73 Cr	Consumer Durables	1.25%
36	Gokaldas Exports Limited ₹14.38 Cr	Textiles & Apparels	1.22%
37	Titan Company Limited ₹14.14 Cr	Consumer Durables	1.20%
38	Maruti Suzuki India Limited ₹14.23 Cr	Automobiles	1.20%
39	FSN E-Commerce Ventures Limited ₹14.00 Cr	Retailing	1.18%
40	Nippon Life India Asset Management Limited ₹13.94 Cr	Capital Markets	1.18%
41	Gujarat Fluorochemicals Limited ₹13.80 Cr	Chemicals & Petrochemicals	1.17%
42	Power Mech Projects Limited ₹13.64 Cr	Construction	1.15%
43	Titagarh Rail Systems Limited ₹13.27 Cr	Industrial Manufacturing	1.12%
44	INDIAN HUME PIPE COMPANY LIMITED ₹13.02 Cr	N.A.	1.10%
45	INDO COUNT INDUSTRIES LIMITED ₹12.57 Cr	Textiles & Apparels	1.06%
46	Mold-Tek Packaging Limited ₹12.28 Cr	Industrial Products	1.04%
47	Billionbrains Garage Ventures Ltd ₹11.82 Cr	Capital Markets	1.00%
48	Home First Finance Company India Limited ₹11.81 Cr	Finance	1.00%
49	Shadowfax Technologies Ltd. ₹11.75 Cr	Transport Services	0.99%
50	Pine Labs Limited ₹11.32 Cr	Financial Technology (Fintech)	0.96%
51	Sobha Limited ₹11.28 Cr	Realty	0.95%
52	Tata Motors Ltd ₹10.92 Cr	Agricultural, Commercial & Construction Vehicles	0.92%
53	Sterlite Technologies Limited ₹10.22 Cr	Telecom - Equipment & Accessories	0.86%
54	Cholamandalam Investment and Finance Company Ltd ₹9.80 Cr	Finance	0.83%
55	Wakefit Innovations Limited ₹9.21 Cr	Consumer Durables	0.78%
56	Meghmani Finechem Limited ₹8.31 Cr	Chemicals & Petrochemicals	0.70%
57	Kajaria Ceramics Limited ₹8.07 Cr	Consumer Durables	0.68%
58	Lenskart Solutions Limited ₹7.76 Cr	Retailing	0.66%
59	KEC International Limited ₹7.48 Cr	Construction	0.63%
60	OPTIEMUS INFRACOM LIMITED ₹7.44 Cr	Telecom - Equipment & Accessories	0.63%
61	Devyani International Limited ₹7.41 Cr	Leisure Services	0.63%
62	Diamond Power Infrastructure Limited ₹7.32 Cr	Electrical Equipment	0.62%
63	HDFC Asset Management Company Limited ₹6.54 Cr	Capital Markets	0.55%
64	JSW Steel Limited ₹6.35 Cr	Ferrous Metals	0.54%
65	Pitti Engineering Ltd ₹5.48 Cr	Industrial Manufacturing	0.46%
66	Amara Raja Energy & Mobility Ltd ₹5.47 Cr	Auto Components	0.46%
67	Ganesha Ecosphere Limited ₹5.32 Cr	Textiles & Apparels	0.45%
68	PNC Infratech Limited ₹4.82 Cr	Construction	0.41%
69	Bharat Bijlee Ltd. ₹4.49 Cr	Electrical Equipment	0.38%
70	Awfis Space Solutions Limited ₹4.17 Cr	Commercial Services & Supplies	0.35%
71	PG Electroplast Limited ₹4.13 Cr	Consumer Durables	0.35%
72	Bansal Wire Industries Limited ₹3.81 Cr	Industrial Products	0.32%