Axis Business Cycles Fund holds 89 instruments (95.6% equity), led by Larsen & Toubro Limited (3.79%), Axis Bank Limited (3.6%) and ICICI Bank Limited (3.59%), as of its 30 September 2026 SEBI-mandated monthly disclosure.
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 September 2026. The fund holds 89 instruments with an equity allocation of 95.6%. Percentages are of net assets (% to NAV). Click any stock to see every other mutual fund that also holds it.
Axis Business Cycles Fund's top 10 holdings account for 29.19% of its portfolio, more diversified than the Thematic category average of 49.2%. Financial Services is its largest sector exposure at 26.66% of net assets, spread across 13 sectors in total. Since its 31 August 2026 disclosure, the fund added 9 new positions and exited 3 positions, with Jyoti CNC Automation Limited seeing the largest move (-1.07pp to 0.22%).
Equity holdings grouped by sector, % to NAV. "Other" covers debt, cash and other non-equity instruments, plus any equity holding without a classified sector.
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.
| Stock | Weight | Change |
|---|---|---|
| Jindal Stainless Limited | 0.28% → 0.69% | ▲ +0.41 |
| HDFC Bank Limited | 2.95% → 3.34% | ▲ +0.39 |
| Reliance Industries Limited | 1.87% → 2.17% | ▲ +0.3 |
| PI Industries Limited | 0.61% → 0.87% | ▲ +0.26 |
| Kotak Mahindra Bank Limited | 2.48% → 2.72% | ▲ +0.24 |
| Aether Industries Limited | 2.42% → 2.58% | ▲ +0.16 |
| PNB Housing Finance Limited | 1.02% → 1.16% | ▲ +0.14 |
| PTC Industries Limited | 2.08% → 2.22% | ▲ +0.14 |
| Welspun Corp Limited | 0.63% → 0.76% | ▲ +0.13 |
| Sona BLW Precision Forgings Limited | 1.39% → 1.51% | ▲ +0.12 |
| Stock | Weight | Change |
|---|---|---|
| Jyoti CNC Automation Limited | 1.29% → 0.22% | ▼ -1.07 |
| Mahindra & Mahindra Limited | 2.27% → 1.5% | ▼ -0.77 |
| Info Edge (India) Limited | 0.96% → 0.44% | ▼ -0.52 |
| Coforge Limited | 1% → 0.53% | ▼ -0.47 |
| Jubilant Foodworks Limited | 0.78% → 0.45% | ▼ -0.33 |
| Mankind Pharma Limited | 1.4% → 1.08% | ▼ -0.32 |
| Aarti Industries Limited | 0.73% → 0.48% | ▼ -0.25 |
| One 97 Communications Limited | 2.2% → 1.96% | ▼ -0.24 |
| ICICI Bank Limited | 3.72% → 3.59% | ▼ -0.13 |
| IndusInd Bank Limited | 2.34% → 2.21% | ▼ -0.13 |
% to NAV of the fund's current top holdings over its last 6 monthly disclosures (Apr – Sept 2026).
| # | Holding | Sector | % to NAV |
|---|---|---|---|
| 1 | Larsen & Toubro Limited | Industrials | 3.79% |
| 2 | Axis Bank Limited | Financial Services | 3.6% |
| 3 | ICICI Bank Limited | Financial Services | 3.59% |
| 4 | HDFC Bank Limited | Financial Services | 3.34% |
| 5 | Clearing Corporation of India Ltdother | — | 3.09% |
| 6 | Kotak Mahindra Bank Limited | Financial Services | 2.72% |
| 7 | Grasim Industries Limited | Materials | 2.67% |
| 8 | Aether Industries Limited | Materials | 2.58% |
| 9 | Bharti Airtel Limited | Telecommunication | 2.47% |
| 10 | PTC Industries Limited | Industrials | 2.22% |
| 11 | IndusInd Bank Limited | Financial Services | 2.21% |
| 12 | Reliance Industries Limited | Energy | 2.17% |
| 13 | One 97 Communications Limited | Financial Services | 1.96% |
| 14 | HCL Technologies Limited | Information Technology | 1.94% |
| 15 | JINDAL STEEL LIMITED | Materials | 1.56% |
| 16 | ETERNAL LIMITED | Consumer Discretionary | 1.56% |
| 17 | Solar Industries India Limited | Materials | 1.51% |
| 18 | Sona BLW Precision Forgings Limited | Consumer Discretionary | 1.51% |
| 19 | Mahindra & Mahindra Limited | Consumer Discretionary | 1.5% |
| 20 | Bajaj Finance Limited | Financial Services | 1.49% |
| 21 | CREDITACCESS GRAMEEN LIMITED | Financial Services | 1.44% |
| 22 | NTPC Limited | Utilities | 1.35% |
| 23 | Vishal Mega Mart Limited | Consumer Discretionary | 1.35% |
| 24 | Bosch Limited | Consumer Discretionary | 1.27% |
| 25 | Tata Motors Limited | Industrials | 1.26% |
| 26 | TD POWER SYSTEMS LTD | Industrials | 1.19% |
| 27 | Hyundai Motor India Limited | Consumer Discretionary | 1.19% |
| 28 | PNB Housing Finance Limited | Financial Services | 1.16% |
| 29 | TITAGARH RAIL SYSTEMS LIMITED | Industrials | 1.12% |
| 30 | Asian Paints Limited | Consumer Discretionary | 1.1% |
| 31 | Aurobindo Pharma Limited | Healthcare | 1.09% |
| 32 | Mankind Pharma Limited | Healthcare | 1.08% |
| 33 | Endurance Technologies Limited | Consumer Discretionary | 1.05% |
| 34 | Hindustan Zinc Limited | Materials | 1.04% |
| 35 | RBL Bank Limited | Financial Services | 1.01% |
| 36 | Canara Bank | Financial Services | 0.98% |
| 37 | Hindustan Copper Limited | Materials | 0.98% |
| 38 | Pine Labs Limited | Financial Services | 0.97% |
| 39 | Amber Enterprises India Limited | Consumer Discretionary | 0.95% |
| 40 | Delhivery Limited | Services | 0.95% |
| 41 | RHI MAGNESITA INDIA LIMITED | Industrials | 0.95% |
| 42 | Bajaj Finserv Limited | Financial Services | 0.95% |
| 43 | ABB India Limited | Industrials | 0.94% |
| 44 | Brigade Enterprises Limited | Real Estate | 0.93% |
| 45 | Ambuja Cements Limited | Materials | 0.92% |
| 46 | Bharat Forge Limited | Consumer Discretionary | 0.92% |
| 47 | Vedanta Aluminium Metal Limited | Diversified | 0.92% |
| 48 | PI Industries Limited | Materials | 0.87% |
| 49 | Cummins India Limited | Industrials | 0.84% |
| 50 | Swiggy Limited | Consumer Discretionary | 0.83% |
| 51 | Gujarat Fluorochemicals Limited | Materials | 0.81% |
| 52 | Jubilant Ingrevia Limited | Materials | 0.8% |
| 53 | Minda Corporation Limited | Consumer Discretionary | 0.77% |
| 54 | Neogen Chemicals Limited | Materials | 0.76% |
| 55 | Welspun Corp Limited | Industrials | 0.76% |
| 56 | Net Receivables / (Payables)other | — | 0.76% |
| 57 | Healthcare Global Enterprises Limited | Healthcare | 0.74% |
| 58 | United Spirits Limited | Consumer Staples | 0.71% |
| 59 | Sapphire Foods India Limited | Consumer Discretionary | 0.7% |
| 60 | Hindustan Aeronautics Limited | Industrials | 0.69% |
| 61 | Jindal Stainless Limited | Materials | 0.69% |
| 62 | Chalet Hotels Limited | Consumer Discretionary | 0.68% |
| 63 | Page Industries Limited | Consumer Discretionary | 0.68% |
| 64 | Max Healthcare Institute Limited | Healthcare | 0.68% |
| 65 | MphasiS Limited | Information Technology | 0.68% |
| 66 | Shriram Pistons & Rings Limited | Consumer Discretionary | 0.64% |
| 67 | Anthem Biosciences Limited | Healthcare | 0.64% |
| 68 | Oil & Natural Gas Corporation Limited | Energy | 0.62% |
| 69 | Alkem Laboratories Limited | Healthcare | 0.61% |
| 70 | Marico Limited | Consumer Staples | 0.57% |
| 71 | Tube Investments of India Limited | Consumer Discretionary | 0.56% |
| 72 | 360 ONE WAM LIMITED | Financial Services | 0.54% |
| 73 | Coforge Limited | Information Technology | 0.53% |
| 74 | Gland Pharma Limited | Healthcare | 0.51% |
| 75 | S.J.S. Enterprises Limited | Consumer Discretionary | 0.49% |
| 76 | 91 Day Treasury Billstbill | — | 0.49% |
| 77 | Aarti Industries Limited | Materials | 0.48% |
| 78 | Tech Mahindra Limited | Information Technology | 0.48% |
| 79 | Jubilant Foodworks Limited | Consumer Discretionary | 0.45% |
| 80 | Info Edge (India) Limited | Consumer Discretionary | 0.44% |
| 81 | SBI Life Insurance Company Limited | Financial Services | 0.38% |
| 82 | Aditya Birla Real Estate Limited | Real Estate | 0.32% |
| 83 | OnEMI Technology Solutions Limited | Financial Services | 0.32% |
| 84 | InterGlobe Aviation Limited | Services | 0.3% |
| 85 | Jyoti CNC Automation Limited | Industrials | 0.22% |
| 86 | Dr. Reddy's Laboratories Limited | Healthcare | 0.2% |
| 87 | Cyient DLM Limited | Industrials | 0.1% |
| 88 | Syngene International Limited | Healthcare | 0.06% |
| 89 | Bank Nifty Index 54800 Call Optionother | — | 0.04% |
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 September 2026. Data is for information only, not investment advice. Holdings may have changed since the disclosure date.