Axis Business Cycles Fund

Axis Mutual FundThematicPortfolio as of 30 June 2026

Axis Business Cycles Fund holds 81 instruments (97.27% equity), led by Larsen & Toubro Limited (4.08%), ICICI Bank Limited (3.65%) and Axis Bank Limited (3.64%), as of its 30 June 2026 SEBI-mandated monthly disclosure.

Holdings
81
Equity Allocation
97.27%
AMC
Axis Mutual Fund
Category
Thematic

This page shows the complete disclosed portfolio of Axis Business Cycles Fund, managed by Axis Mutual Fund, based on its monthly portfolio disclosure dated 30 June 2026. The fund holds 81 instruments with an equity allocation of 97.27%. Percentages are of net assets (% to NAV). Click any stock to see every other mutual fund that also holds it.

Portfolio Analysis

Axis Business Cycles Fund's top 10 holdings account for 29.49% of its portfolio, more diversified than the Thematic category average of 50.4%. Financial Services is its largest sector exposure at 28.64% of net assets, spread across 13 sectors in total. Since its 31 May 2026 disclosure, the fund added 5 new positions and exited 4 positions, with NTPC Limited seeing the largest move (-0.69pp to 1.3%).

Top 10 Equity Holdings

What Changed: May 2026 → June 2026

Equity holdings compared between the fund's two latest monthly disclosures. Weights are % to NAV; weight moves can also reflect price changes, not only buying or selling.

5 new entries4 exits10 increased10 reduced

Biggest Weight Increases

StockWeightChange
Pine Labs Limited0.43% → 0.86%▲ +0.43
Aether Industries Limited1.89% → 2.3%▲ +0.41
Jyoti CNC Automation Limited1.05% → 1.35%▲ +0.3
Tata Motors Limited0.94% → 1.23%▲ +0.29
ICICI Bank Limited3.38% → 3.65%▲ +0.27
CREDITACCESS GRAMEEN LIMITED1.39% → 1.65%▲ +0.26
S.J.S. Enterprises Limited0.27% → 0.47%▲ +0.2
Sapphire Foods India Limited0.4% → 0.59%▲ +0.19
HDFC Bank Limited3.08% → 3.26%▲ +0.18
Max Healthcare Institute Limited1.11% → 1.28%▲ +0.17

Biggest Weight Reductions

StockWeightChange
NTPC Limited1.99% → 1.3%▼ -0.69
Bharat Heavy Electricals Limited1.75% → 1.12%▼ -0.63
Anthem Biosciences Limited1.19% → 0.65%▼ -0.54
GE Vernova T&D India Limited1.02% → 0.66%▼ -0.36
Reliance Industries Limited2.27% → 2.01%▼ -0.26
JINDAL STEEL LIMITED1.65% → 1.43%▼ -0.22
BSE Limited2.27% → 2.09%▼ -0.18
Hindustan Zinc Limited0.94% → 0.78%▼ -0.16
RHI MAGNESITA INDIA LIMITED1% → 0.89%▼ -0.11
Cummins India Limited2% → 1.9%▼ -0.1

Top Holdings — Weight Trend

% to NAV of the fund's current top holdings over its last 6 monthly disclosures (Jan – Jun 2026).

Jan: 3.36%, Feb: 3.65%, Mar: 3.57%, Apr: 4%, May: 4.08%, Jun: 4.08%
4.08%
Jan: 7.19%, Feb: 7.32%, Mar: 4.09%, Apr: 3.39%, May: 3.38%, Jun: 3.65%
3.65%
Jan: 0.7%, Feb: 2.37%, Mar: 3.52%, Apr: 3.47%, May: 3.54%, Jun: 3.64%
3.64%
Jan: 3.9%, Feb: 3.58%, Mar: 2.82%, Apr: 3.18%, May: 3.08%, Jun: 3.26%
3.26%
Jan: –, Feb: –, Mar: –, Apr: –, May: 2.7%, Jun: 2.64%
2.64%

Full Portfolio (81 holdings)

#HoldingSector% to NAV
1Larsen & Toubro LimitedIndustrials4.08%
2ICICI Bank LimitedFinancial Services3.65%
3Axis Bank LimitedFinancial Services3.64%
4HDFC Bank LimitedFinancial Services3.26%
5Grasim Industries LimitedMaterials2.64%
6Kotak Mahindra Bank LimitedFinancial Services2.64%
7Mahindra & Mahindra LimitedConsumer Discretionary2.49%
8ETERNAL LIMITEDConsumer Discretionary2.44%
9Bharti Airtel LimitedTelecommunication2.35%
10Aether Industries LimitedMaterials2.3%
11IndusInd Bank LimitedFinancial Services2.21%
12BSE LimitedFinancial Services2.09%
13Reliance Industries LimitedEnergy2.01%
14Cummins India LimitedIndustrials1.9%
15One 97 Communications LimitedFinancial Services1.77%
16CREDITACCESS GRAMEEN LIMITEDFinancial Services1.65%
17Solar Industries India LimitedMaterials1.61%
18CG Power and Industrial Solutions LimitedIndustrials1.55%
19Mankind Pharma LimitedHealthcare1.53%
20PTC Industries LimitedIndustrials1.53%
21JINDAL STEEL LIMITEDMaterials1.43%
22Net Receivables / (Payables)other1.41%
23Aarti Industries LimitedMaterials1.38%
24Vishal Mega Mart LimitedConsumer Discretionary1.37%
25Bajaj Finance LimitedFinancial Services1.37%
26Jyoti CNC Automation LimitedIndustrials1.35%
27Delhivery LimitedServices1.31%
28NTPC LimitedUtilities1.3%
29Max Healthcare Institute LimitedHealthcare1.28%
30Tata Motors LimitedIndustrials1.23%
31Sona BLW Precision Forgings LimitedConsumer Discretionary1.2%
32Asian Paints LimitedConsumer Discretionary1.18%
33Bharat Heavy Electricals LimitedIndustrials1.12%
34RBL Bank LimitedFinancial Services1.11%
35Hyundai Motor India LimitedConsumer Discretionary1.09%
36Oil & Natural Gas Corporation LimitedEnergy1.06%
37Bosch LimitedConsumer Discretionary1.05%
38Endurance Technologies LimitedConsumer Discretionary1.03%
39Coforge LimitedInformation Technology1.02%
40Ambuja Cements LimitedMaterials1.02%
41TITAGARH RAIL SYSTEMS LIMITEDIndustrials0.98%
42Vedanta Aluminium Metal LimitedDiversified0.97%
43PNB Housing Finance LimitedFinancial Services0.96%
44Bajaj Finserv LimitedFinancial Services0.95%
45RHI MAGNESITA INDIA LIMITEDIndustrials0.89%
46Hindustan Unilever LimitedConsumer Staples0.87%
47City Union Bank LimitedFinancial Services0.86%
48Welspun Corp LimitedIndustrials0.86%
49Pine Labs LimitedFinancial Services0.86%
50Clearing Corporation of India Ltdother0.82%
51Brigade Enterprises LimitedReal Estate0.79%
52Hindustan Zinc LimitedMaterials0.78%
53HCL Technologies LimitedInformation Technology0.77%
54Minda Corporation LimitedConsumer Discretionary0.76%
55Page Industries LimitedConsumer Discretionary0.75%
56Jubilant Ingrevia LimitedMaterials0.73%
57Bandhan Bank LimitedFinancial Services0.73%
58Hindustan Copper LimitedMaterials0.72%
59Gujarat Fluorochemicals LimitedMaterials0.71%
60Tube Investments of India LimitedConsumer Discretionary0.69%
61InterGlobe Aviation LimitedServices0.69%
62Bharat Forge LimitedConsumer Discretionary0.69%
63United Spirits LimitedConsumer Staples0.69%
64Jubilant Foodworks LimitedConsumer Discretionary0.68%
65PI Industries LimitedMaterials0.68%
66Healthcare Global Enterprises LimitedHealthcare0.68%
67GE Vernova T&D India LimitedIndustrials0.66%
68MphasiS LimitedInformation Technology0.66%
69Anthem Biosciences LimitedHealthcare0.65%
70Chalet Hotels LimitedConsumer Discretionary0.64%
71Hindustan Aeronautics LimitedIndustrials0.64%
72CORONA Remedies LimitedHealthcare0.62%
73Sapphire Foods India LimitedConsumer Discretionary0.59%
74360 ONE WAM LIMITEDFinancial Services0.55%
75Tech Mahindra LimitedInformation Technology0.51%
7691 DAYS T-BILL - 20AUG2026tbill0.48%
77S.J.S. Enterprises LimitedConsumer Discretionary0.47%
78Info Edge (India) LimitedConsumer Discretionary0.39%
79Aditya Birla Real Estate LimitedReal Estate0.37%
80SBI Life Insurance Company LimitedFinancial Services0.34%
81Swiggy LimitedConsumer Discretionary0.2%

Frequently Asked Questions

Yes. As of its 30 June 2026 disclosure, Larsen & Toubro Limited is 4.08% of Axis Business Cycles Fund's net assets — its number 1 holding.
Yes. As of its 30 June 2026 disclosure, ICICI Bank Limited is 3.65% of Axis Business Cycles Fund's net assets — its number 2 holding.
Yes. As of its 30 June 2026 disclosure, Axis Bank Limited is 3.64% of Axis Business Cycles Fund's net assets — its number 3 holding.
Yes. As of its 30 June 2026 disclosure, HDFC Bank Limited is 3.26% of Axis Business Cycles Fund's net assets — its number 4 holding.
Yes. As of its 30 June 2026 disclosure, Grasim Industries Limited is 2.64% of Axis Business Cycles Fund's net assets — its number 5 holding.

New to reading these? See How to Read a Mutual Fund's Monthly Portfolio Disclosure, or check terms like % to NAV in the glossary.

Source: Axis Mutual Fund's SEBI-mandated monthly portfolio disclosure, dated 30 June 2026. Data is for information only, not investment advice. Holdings may have changed since the disclosure date.