HSBC Business Cycles Fund holds 72 instruments (96.28% equity), led by ICICI Bank Limited (5.62%), Mtar Technologies Limited (3.37%) and HDFC Bank Limited (2.85%), as of its 31 August 2026 SEBI-mandated monthly disclosure.
This page shows the complete disclosed portfolio of HSBC Business Cycles Fund, managed by HSBC Mutual Fund, based on its monthly portfolio disclosure dated 31 August 2026. The fund holds 72 instruments with an equity allocation of 96.28%. Percentages are of net assets (% to NAV). Click any stock to see every other mutual fund that also holds it.
HSBC Business Cycles Fund's top 10 holdings account for 28.56% of its portfolio, more diversified than the Thematic category average of 49.2%. Financial Services is its largest sector exposure at 33.34% of net assets, spread across 8 sectors in total. Since its 31 July 2026 disclosure, the fund added 2 new positions and exited 4 positions, with Ahluwalia Contracts (India) Limited seeing the largest move (-0.53pp to 1.38%).
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 |
|---|---|---|
| Mtar Technologies Limited | 2.85% → 3.37% | ▲ +0.52 |
| Multi Commodity Exchange of India Limited | 1.5% → 1.83% | ▲ +0.33 |
| APL Apollo Tubes Limited | 1.54% → 1.81% | ▲ +0.27 |
| Motilal Oswal Financial Services Limited | 1.44% → 1.7% | ▲ +0.26 |
| Sterlite Technologies Limited | 0.86% → 1.09% | ▲ +0.23 |
| Jyoti CNC Automation Limited | 1.27% → 1.5% | ▲ +0.23 |
| PB Fintech Limited | 1.61% → 1.82% | ▲ +0.21 |
| Indo Count Industries Limited | 1.06% → 1.2% | ▲ +0.14 |
| Pine Labs Limited | 0.96% → 1.09% | ▲ +0.13 |
| R R Kabel Limited | 1.32% → 1.43% | ▲ +0.11 |
| Stock | Weight | Change |
|---|---|---|
| Ahluwalia Contracts (India) Limited | 1.91% → 1.38% | ▼ -0.53 |
| Hindalco Industries Limited | 1.4% → 0.99% | ▼ -0.41 |
| HDFC Bank Limited | 3.12% → 2.85% | ▼ -0.27 |
| Blue Star Limited | 1.25% → 1.04% | ▼ -0.21 |
| Time Technoplast Limited | 1.45% → 1.25% | ▼ -0.2 |
| Reliance Industries Limited | 2.84% → 2.67% | ▼ -0.17 |
| ICICI Bank Limited | 5.77% → 5.62% | ▼ -0.15 |
| UltraTech Cement Limited | 1.97% → 1.83% | ▼ -0.14 |
| ICICI Prudential Asset Management Company Limited | 2.24% → 2.12% | ▼ -0.12 |
| Sobha Limited | 0.95% → 0.84% | ▼ -0.11 |
% to NAV of the fund's current top holdings over its last 6 monthly disclosures (Mar – Aug 2026).
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: HSBC Mutual Fund's SEBI-mandated monthly portfolio disclosure, dated 31 August 2026. Data is for information only, not investment advice. Holdings may have changed since the disclosure date.