What stocks does HDFC Business Cycle Fund hold?

HDFC Business Cycle Fund holds a portfolio of Indian equity stocks disclosed monthly by HDFC 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 HDFC Business Cycle Fund?

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

What category is HDFC Business Cycle Fund?

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

How often is HDFC Business Cycle Fund portfolio data updated?

Portfolio holdings for HDFC Business Cycle 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.

← HDFC Mutual Fund

HDFC Business Cycle Fund - Growth Option - Direct Plan

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

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Stocks Held

Jul 2026

Equity Holdings

₹2,517.13 Cr

Equity only, excl. debt & cash

AAUM

₹2,579.80 Cr

Apr-Jun 2026 · Direct + Regular

Top 5 Weight

25.0%

Diversified

Top 10 Weight

39.6%

Diversified

Changes

2 new · 2 exits

Top Sector

Banks

16.8% of portfolio

Launch Date

11 Nov 2022

4 years old

AAUM (Average Assets Under Management) of ₹2,579.80 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 HDFC Business Cycle Fund made 2 new additions and exited 2 stocks this month. The biggest new buy was GE Vernova T&D India Limited (Electrical Equipment) at 1.64% weight. The Phoenix Mills Limited was the biggest exit (Realty), which was held at 0.29%. Among existing holdings, KSB Limited saw the biggest increase — now at 1.27% of the portfolio. Eternal Limited was trimmed the most, now at 2.61%. Bharti Airtel Limited remains the top holding with Banks the dominant sector at 16.8%. ↓ Scroll down for full holdings, sector allocation and month-on-month changes in detail.

How Has the NAV Performed?

1 year history · HDFC Business Cycle Fund - Growth Option - Direct Plan

+3.06%

+9.13%

+9.90%

+6.09%

Latest NAV

₹16.21

25 Aug 2026

52W High

₹16.21

At High

52W Low

₹13.10

+24% from Low

Calendar Year Returns

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

2025

+2.7%

2024

+15.3%

2023

+29.9%

Rolling Returns

Performance across every possible investment start date.

1Y Rolling Avg

15.4%

+ve in 94% windows

41.9% / -5.2%

3Y Rolling Avg

14.0% p.a.

+ve in 100% windows

16.3% / 10.4%

Crisis Period Behaviour

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

2024–25 Tariff

-17.3%

Rec: Jul 2026 (1yr 9mo)

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)

0.45

Return per unit of risk. >1 is good.

Sortino Ratio (3Y)

0.63

Penalises downside volatility only.

Std Deviation (3Y)

13.7%

Lower = more consistent returns.

NAV Chart ₹16.21 25 Aug 2026

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

HDFC Business Cycle Fund - Growth Option - Direct Plan

Chart shows indexed performance (base = 100). Actual NAV: ₹16.21

Sector Shift Industry allocation month-over-month

May 2026 → Jun 2026

Sector	Prev	Curr ▼	Delta
Banks	17.6%	17.7%	● +0.1%
Finance	9.3%	11.0%	▲ +1.7%
Retailing	11.0%	10.5%	▼ -0.5%
Pharmaceuticals & Biotechnology	7.3%	7.2%	▼ -0.2%
Telecom - Services	6.1%	5.9%	▼ -0.2%
Power	3.4%	4.6%	▲ +1.2%
Consumer Durables	4.4%	4.5%	▲ +0.1%
Healthcare Services	4.5%	4.4%	● 0.0%
Chemicals & Petrochemicals	3.5%	3.8%	▲ +0.4%
Transport Services	2.8%	3.3%	▲ +0.5%

Jun 2026 → Jul 2026

Sector	Prev	Curr ▼	Delta
Banks	17.7%	16.8%	▼ -0.9%
Finance	11.0%	9.5%	▼ -1.5%
Retailing	10.5%	7.8%	▼ -2.8%
Pharmaceuticals & Biotechnology	7.2%	7.1%	● -0.1%
Telecom - Services	5.9%	6.2%	▲ +0.3%
Consumer Durables	4.5%	4.8%	▲ +0.4%
Power	4.6%	4.4%	▼ -0.2%
Healthcare Services	4.4%	4.1%	▼ -0.3%
Chemicals & Petrochemicals	3.8%	4.1%	▲ +0.3%
Leisure Services	2.6%	3.0%	▲ +0.4%

🟢

Biggest New Buy

GE Vernova T&D India Limited

1.64% weight · Electrical Equipment

🔴

Biggest Exit

The Phoenix Mills Limited

0.29% was held · Realty

↑

Biggest Add

KSB Limited

+0.74% · now 1.27%

↓

Biggest Trim

Eternal Limited

-2.74% · now 2.61%

🤝 Other funds also bought this month

Indo-MIM Limited 89 funds

GE Vernova T&D India Limited 31 funds

👋 Other funds also exited

The Phoenix Mills Limited 22 funds

Nuvama Wealth Management Limited 10 funds

What Changed in the Portfolio This Month?

Comparing Jun 2026 → Jul 2026

Jun 2026 → Jul 2026

🟢 2 New Entries 🔴 2 Exits ↑ 18 Increased ↓ 36 Decreased

#	Stock	Sector	Weight (Jul 2026)
1	GE Vernova T&D India Limited ₹45.04 Cr	Electrical Equipment	1.64%
2	Indo-MIM Limited ₹10.17 Cr	Industrial Manufacturing	0.37%

#	Stock	Sector	Last Weight (Jun 2026)
1	The Phoenix Mills Limited ₹7.74 Cr	Realty	0.29%
2	Nuvama Wealth Management Limited ₹5.60 Cr	Capital Markets	0.21%

#	Stock	Sector	Jun 2026	Jul 2026	Change
1	KSB Limited ₹34.78 Cr	Industrial Products	0.53%	1.27%	+0.74%
2	Le Travenues Technology Ltd ₹26.02 Cr	Leisure Services	0.52%	0.95%	+0.43%
3	Titan Company Limited ₹125.49 Cr	Consumer Durables	4.19%	4.58%	+0.39%
4	Aether Industries Limited ₹83.94 Cr	Chemicals & Petrochemicals	2.74%	3.06%	+0.32%
5	Swiggy Limited ₹58.31 Cr	Retailing	1.81%	2.13%	+0.32%
6	Bharti Airtel Limited ₹169.00 Cr	Telecom - Services	5.87%	6.17%	+0.30%
7	IndusInd Bank Limited ₹66.52 Cr	Banks	2.25%	2.43%	+0.18%
8	ICICI Bank Limited ₹149.57 Cr	Banks	5.30%	5.46%	+0.16%
9	Anthem Biosciences Limited ₹108.03 Cr	Pharmaceuticals & Biotechnology	3.81%	3.94%	+0.13%
10	Home First Finance Company India Limited ₹63.61 Cr	Finance	2.25%	2.32%	+0.07%
11	Global Health Limited ₹31.63 Cr	Healthcare Services	1.09%	1.15%	+0.06%
12	Sagility Limited ₹19.48 Cr	IT - Services	0.65%	0.71%	+0.06%
13	Pearl Global Industries Limited ₹69.87 Cr	Textiles & Apparels	2.52%	2.55%	+0.03%
14	PNC Infratech Limited ₹12.66 Cr	Construction	0.43%	0.46%	+0.03%
15	Bosch Limited ₹28.76 Cr	Auto Components	1.03%	1.05%	+0.02%
16	Leela Palaces Hotels & Resorts Limited ₹26.90 Cr	Leisure Services	0.96%	0.98%	+0.02%
17	RHI Magnesita India Limited ₹13.67 Cr	Industrial Products	0.48%	0.50%	+0.02%
18	SULA VINEYARDS LIMITED ₹6.65 Cr	Beverages	0.22%	0.24%	+0.02%

#	Stock	Sector	Jun 2026	Jul 2026	Change
1	Eternal Limited ₹71.55 Cr	Retailing	5.35%	2.61%	-2.74%
2	Axis Bank Limited ₹15.88 Cr	Banks	1.49%	0.58%	-0.91%
3	Aptus Value Housing Finance India Limited ₹52.00 Cr	Finance	2.77%	1.90%	-0.87%
4	InterGlobe Aviation Limited ₹75.50 Cr	Transport Services	3.30%	2.76%	-0.54%
5	Ambuja Cements Limited ₹8.68 Cr	Cement & Cement Products	0.86%	0.32%	-0.54%
6	Cholamandalam Investment and Finance Company Ltd ₹68.76 Cr	Finance	2.97%	2.51%	-0.46%
7	Wework India Management Limited ₹14.80 Cr	Commercial Services & Supplies	0.97%	0.54%	-0.43%
8	Fortis Healthcare Limited ₹80.91 Cr	Healthcare Services	3.35%	2.95%	-0.40%
9	Ceigall India Ltd ₹5.91 Cr	Construction	0.62%	0.22%	-0.40%
10	Vishal Mega Mart Limited ₹70.67 Cr	Retailing	2.88%	2.58%	-0.30%
11	Sona BLW Precision Forgings Limited ₹13.85 Cr	Auto Components	0.80%	0.51%	-0.29%
12	HDFC Bank Limited ₹90.53 Cr	Banks	3.57%	3.31%	-0.26%
13	Bharat Dynamics Limited ₹38.87 Cr	Aerospace & Defense	1.57%	1.42%	-0.15%
14	Aadhar Housing Finance Limited ₹65.54 Cr	Finance	2.52%	2.39%	-0.13%
15	Eris Lifesciences Limited ₹50.91 Cr	Pharmaceuticals & Biotechnology	1.99%	1.86%	-0.13%
16	Acme Solar Holdings Ltd ₹44.42 Cr	Power	1.72%	1.62%	-0.10%
17	ICICI Prudential Asset Management Company Limited ₹33.50 Cr	Capital Markets	1.32%	1.22%	-0.10%
18	CG Power and Industrial Solutions Limited ₹23.53 Cr	Electrical Equipment	0.96%	0.86%	-0.10%
19	Timken India Limited ₹22.60 Cr	Industrial Products	0.93%	0.83%	-0.10%
20	Shriram Finance Limited ₹11.43 Cr	Finance	0.52%	0.42%	-0.10%
21	Kotak Mahindra Bank Limited ₹131.57 Cr	Banks	4.89%	4.80%	-0.09%
22	Godrej Properties Limited ₹3.93 Cr	Realty	0.23%	0.14%	-0.09%
23	Clean Max Enviro Energy Solutions Limited # ₹63.42 Cr	Power	2.40%	2.32%	-0.08%
24	Mankind Pharma Limited ₹35.66 Cr	Pharmaceuticals & Biotechnology	1.36%	1.30%	-0.06%
25	SRF Limited ₹28.33 Cr	Chemicals & Petrochemicals	1.09%	1.03%	-0.06%
26	Adani Ports and Special Economic Zone Limited ₹20.27 Cr	Transport Infrastructure	0.80%	0.74%	-0.06%
27	Ola Electric Mobility Ltd ₹10.48 Cr	Automobiles	0.44%	0.38%	-0.06%
28	PB Fintech Limited ₹38.99 Cr	Financial Technology (Fintech)	1.47%	1.42%	-0.05%
29	G R Infraprojects Limited ₹15.08 Cr	Construction	0.58%	0.55%	-0.03%
30	Brainbees Solutions Ltd ₹12.14 Cr	Retailing	0.47%	0.44%	-0.03%
31	JSW Energy Limited ₹11.57 Cr	Power	0.45%	0.42%	-0.03%
32	Awfis Space Solutions Limited ₹8.95 Cr	Commercial Services & Supplies	0.36%	0.33%	-0.03%
33	Chalet Hotels Limited ₹29.48 Cr	Leisure Services	1.10%	1.08%	-0.02%
34	Afcons Infrastructure Limited ₹3.59 Cr	Construction	0.15%	0.13%	-0.02%
35	Grindwell Norton Limited ₹7.62 Cr	Industrial Products	0.29%	0.28%	-0.01%
36	Crompton Greaves Consumer Electricals Limited ₹7.00 Cr	Consumer Durables	0.27%	0.26%	-0.01%

What Stocks Does This Fund Hold?

60 stocks — Jul 2026

#	Stock	Sector	Weight & Value
1	Bharti Airtel Limited ₹169.00 Cr	Telecom - Services	6.17%
2	ICICI Bank Limited ₹149.57 Cr	Banks	5.46%
3	Kotak Mahindra Bank Limited ₹131.57 Cr	Banks	4.80%
4	Titan Company Limited ₹125.49 Cr	Consumer Durables	4.58%
5	Anthem Biosciences Limited ₹108.03 Cr	Pharmaceuticals & Biotechnology	3.94%
6	HDFC Bank Limited ₹90.53 Cr	Banks	3.31%
7	Aether Industries Limited ₹83.94 Cr	Chemicals & Petrochemicals	3.06%
8	Fortis Healthcare Limited ₹80.91 Cr	Healthcare Services	2.95%
9	InterGlobe Aviation Limited ₹75.50 Cr	Transport Services	2.76%
10	Eternal Limited ₹71.55 Cr	Retailing	2.61%
11	Vishal Mega Mart Limited ₹70.67 Cr	Retailing	2.58%
12	Pearl Global Industries Limited ₹69.87 Cr	Textiles & Apparels	2.55%
13	Cholamandalam Investment and Finance Company Ltd ₹68.76 Cr	Finance	2.51%
14	IndusInd Bank Limited ₹66.52 Cr	Banks	2.43%
15	Aadhar Housing Finance Limited ₹65.54 Cr	Finance	2.39%
16	Home First Finance Company India Limited ₹63.61 Cr	Finance	2.32%
17	Clean Max Enviro Energy Solutions Limited # ₹63.42 Cr	Power	2.32%
18	Bajaj Auto Limited ₹62.58 Cr	Automobiles	2.28%
19	Swiggy Limited ₹58.31 Cr	Retailing	2.13%
20	Aptus Value Housing Finance India Limited ₹52.00 Cr	Finance	1.90%
21	Eris Lifesciences Limited ₹50.91 Cr	Pharmaceuticals & Biotechnology	1.86%
22	GE Vernova T&D India Limited ₹45.04 Cr	Electrical Equipment	1.64%
23	Acme Solar Holdings Ltd ₹44.42 Cr	Power	1.62%
24	PB Fintech Limited ₹38.99 Cr	Financial Technology (Fintech)	1.42%
25	Bharat Dynamics Limited ₹38.87 Cr	Aerospace & Defense	1.42%
26	Mankind Pharma Limited ₹35.66 Cr	Pharmaceuticals & Biotechnology	1.30%
27	KSB Limited ₹34.78 Cr	Industrial Products	1.27%
28	ICICI Prudential Asset Management Company Limited ₹33.50 Cr	Capital Markets	1.22%
29	Global Health Limited ₹31.63 Cr	Healthcare Services	1.15%
30	Chalet Hotels Limited ₹29.48 Cr	Leisure Services	1.08%
31	Bosch Limited ₹28.76 Cr	Auto Components	1.05%
32	SRF Limited ₹28.33 Cr	Chemicals & Petrochemicals	1.03%
33	Leela Palaces Hotels & Resorts Limited ₹26.90 Cr	Leisure Services	0.98%
34	Le Travenues Technology Ltd ₹26.02 Cr	Leisure Services	0.95%
35	CG Power and Industrial Solutions Limited ₹23.53 Cr	Electrical Equipment	0.86%
36	Timken India Limited ₹22.60 Cr	Industrial Products	0.83%
37	Adani Ports and Special Economic Zone Limited ₹20.27 Cr	Transport Infrastructure	0.74%
38	Sagility Limited ₹19.48 Cr	IT - Services	0.71%
39	Axis Bank Limited ₹15.88 Cr	Banks	0.58%
40	G R Infraprojects Limited ₹15.08 Cr	Construction	0.55%
41	Wework India Management Limited ₹14.80 Cr	Commercial Services & Supplies	0.54%
42	Sona BLW Precision Forgings Limited ₹13.85 Cr	Auto Components	0.51%
43	RHI Magnesita India Limited ₹13.67 Cr	Industrial Products	0.50%
44	PNC Infratech Limited ₹12.66 Cr	Construction	0.46%
45	Brainbees Solutions Ltd ₹12.14 Cr	Retailing	0.44%
46	Shriram Finance Limited ₹11.43 Cr	Finance	0.42%
47	JSW Energy Limited ₹11.57 Cr	Power	0.42%
48	Ola Electric Mobility Ltd ₹10.48 Cr	Automobiles	0.38%
49	Indo-MIM Limited ₹10.17 Cr	Industrial Manufacturing	0.37%
50	Awfis Space Solutions Limited ₹8.95 Cr	Commercial Services & Supplies	0.33%
51	Ambuja Cements Limited ₹8.68 Cr	Cement & Cement Products	0.32%
52	Grindwell Norton Limited ₹7.62 Cr	Industrial Products	0.28%
53	Crompton Greaves Consumer Electricals Limited ₹7.00 Cr	Consumer Durables	0.26%
54	SULA VINEYARDS LIMITED ₹6.65 Cr	Beverages	0.24%
55	Tata Motors Ltd ₹6.33 Cr	Agricultural, Commercial & Construction Vehicles	0.23%
56	Ceigall India Ltd ₹5.91 Cr	Construction	0.22%
57	AU Small Finance Bank Limited ₹5.74 Cr	Banks	0.21%
58	Star Health And Allied Insurance Company Limited ₹4.47 Cr	Insurance	0.16%
59	Godrej Properties Limited ₹3.93 Cr	Realty	0.14%
60	Afcons Infrastructure Limited ₹3.59 Cr	Construction	0.13%