ITI Business Cycle Fund

ITI Mutual FundThematicPortfolio as of 30 September 2026

ITI Business Cycle Fund holds 73 instruments (91.32% equity), led by ESDS SOFTWARE SOLUTION LTD (6.03%), HDFC Bank Limited (3.83%) and ICICI Bank Limited (2.37%), as of its 30 September 2026 SEBI-mandated monthly disclosure.

Holdings
73
Equity Allocation
91.32%
AMC
ITI Mutual Fund
Category
Thematic

This page shows the complete disclosed portfolio of ITI Business Cycle Fund, managed by ITI Mutual Fund, based on its monthly portfolio disclosure dated 30 September 2026. The fund holds 73 instruments with an equity allocation of 91.32%. Percentages are of net assets (% to NAV). Click any stock to see every other mutual fund that also holds it.

Portfolio Analysis

ITI Business Cycle Fund's top 10 holdings account for 25.37% of its portfolio, more diversified than the Thematic category average of 49.2%. Financial Services is its largest sector exposure at 24.32% of net assets, spread across 10 sectors in total. Since its 31 August 2026 disclosure, the fund added 14 new positions and exited 18 positions, with ESDS SOFTWARE SOLUTION LTD seeing the largest move (+4.31pp to 6.03%).

Sector Breakdown

Equity holdings grouped by sector, % to NAV. "Other" covers debt, cash and other non-equity instruments, plus any equity holding without a classified sector.

Financial Services
24.32%
Healthcare
16.95%
Industrials
14.46%
Consumer Discretionary
11.12%
Materials
10.2%
Other
8.68%
Information Technology
6.98%
Consumer Staples
3.33%
Energy
1.93%
Services
1.02%
Utilities
1.01%

Top 10 Equity Holdings

What Changed: August 2026 → September 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.

14 new entries18 exits7 increased10 reduced

Biggest Weight Increases

StockWeightChange
ESDS SOFTWARE SOLUTION LTD1.72% → 6.03%▲ +4.31
HDFC Bank Limited2.85% → 3.83%▲ +0.98
ETERNAL LIMITED1.41% → 2.19%▲ +0.78
Syrma SGS Technology Limited0.97% → 1.2%▲ +0.23
The Great Eastern Shipping Company Limited0.85% → 1.02%▲ +0.17
Finolex Cables Limited1.03% → 1.19%▲ +0.16
Redington Limited1.08% → 1.23%▲ +0.15

Biggest Weight Reductions

StockWeightChange
ICICI Bank Limited3.69% → 2.37%▼ -1.32
Bajaj Finance Limited2.49% → 1.31%▼ -1.18
State Bank of India1.9% → 0.74%▼ -1.16
SBI FUNDS MANAGEMENT LTD1.32% → 0.59%▼ -0.73
TURTLEMINT FINTECH SOLUTIONS1.48% → 0.78%▼ -0.7
Bajaj Auto Limited1.9% → 1.7%▼ -0.2
Titan Company Limited1.89% → 1.7%▼ -0.19
Reliance Industries Limited2.08% → 1.93%▼ -0.15
Grasim Industries Limited1.55% → 1.41%▼ -0.14
Infosys Limited1.08% → 0.95%▼ -0.13

Top Holdings — Weight Trend

% to NAV of the fund's current top holdings over its last 2 monthly disclosures (Aug – Sept 2026).

Aug: 1.72%, Sept: 6.03%
6.03%
Aug: 2.85%, Sept: 3.83%
3.83%
Aug: 3.69%, Sept: 2.37%
2.37%
Aug: 1.41%, Sept: 2.19%
2.19%

Full Portfolio (73 holdings)

#HoldingSector% to NAV
1ESDS SOFTWARE SOLUTION LTDInformation Technology6.03%
2TREPStreps—5.27%
3HDFC Bank LimitedFinancial Services3.83%
4Net Receivables / (Payables)other—3.41%
5ICICI Bank LimitedFinancial Services2.37%
6ETERNAL LIMITEDConsumer Discretionary2.19%
7MANIPAL PAYMENT AND IDENTITYFinancial Services2.02%
8HDFC Life Insurance Company LimitedFinancial Services2.01%
9Reliance Industries LimitedEnergy1.93%
10Titan Company LimitedConsumer Discretionary1.7%
11Bajaj Auto LimitedConsumer Discretionary1.7%
12Laurus Labs LimitedHealthcare1.59%
13Divi's Laboratories LimitedHealthcare1.54%
14Grasim Industries LimitedMaterials1.41%
15LG Electronics India LimitedConsumer Discretionary1.4%
16AU Small Finance Bank LimitedFinancial Services1.39%
17Multi Commodity Exchange of India LimitedFinancial Services1.34%
18Ajanta Pharma LimitedHealthcare1.32%
19Bajaj Finance LimitedFinancial Services1.31%
20Apollo Hospitals Enterprise LimitedHealthcare1.3%
21Kirloskar Oil Engines LimitedIndustrials1.29%
22Ramkrishna Forgings LimitedConsumer Discretionary1.28%
23Piramal Pharma LimitedHealthcare1.28%
24TVS Motor Company LimitedConsumer Discretionary1.26%
25Kalpataru Projects International LimitedIndustrials1.25%
26INDO-MIM LTDIndustrials1.25%
27Aurobindo Pharma LimitedHealthcare1.25%
28Hindalco Industries LimitedMaterials1.24%
29Redington LimitedIndustrials1.23%
30Poonawalla Fincorp LimitedFinancial Services1.22%
31BEML LimitedIndustrials1.22%
32IDFC First Bank LimitedFinancial Services1.21%
33Syrma SGS Technology LimitedIndustrials1.2%
34Finolex Cables LimitedIndustrials1.19%
35Navin Fluorine International LimitedMaterials1.19%
36Glenmark Pharmaceuticals LimitedHealthcare1.19%
37Solar Industries India LimitedMaterials1.18%
38RBL Bank LimitedFinancial Services1.17%
39Bharat Heavy Electricals LimitedIndustrials1.17%
40Torrent Pharmaceuticals LimitedHealthcare1.17%
41Neuland Laboratories LimitedHealthcare1.16%
42LT Foods LimitedConsumer Staples1.13%
43Dr. Lal Path Labs Ltd.Healthcare1.13%
44IPCA Laboratories LimitedHealthcare1.12%
45Hindustan Copper LimitedMaterials1.11%
46Radico Khaitan LimitedConsumer Staples1.1%
47Marico LimitedConsumer Staples1.1%
48Elgi Equipments LimitedIndustrials1.04%
49Gujarat Fluorochemicals LimitedMaterials1.03%
50The Great Eastern Shipping Company LimitedServices1.02%
51FSN E-Commerce Ventures LimitedConsumer Discretionary1.02%
52Data Patterns (India) LimitedIndustrials1.01%
53Adani Power LimitedUtilities1.01%
54Yes Bank LimitedFinancial Services1%
55Biocon LimitedHealthcare1%
56City Union Bank LimitedFinancial Services0.99%
57Global Health LimitedHealthcare0.98%
58Usha Martin LimitedIndustrials0.96%
59IIFL Finance LimitedFinancial Services0.95%
60Infosys LimitedInformation Technology0.95%
61Steel Authority of India LimitedMaterials0.92%
62Aster DM Healthcare LimitedHealthcare0.92%
63Aarti Industries LimitedMaterials0.91%
64DCB Bank LimitedFinancial Services0.9%
65Inox Green Energy Services LimitedIndustrials0.83%
66Central Mine Planning & Design Institute LimitedIndustrials0.82%
67TURTLEMINT FINTECH SOLUTIONSFinancial Services0.78%
68NMDC LimitedMaterials0.75%
69State Bank of IndiaFinancial Services0.74%
70SBI FUNDS MANAGEMENT LTDFinancial Services0.59%
71Ather Energy LimitedConsumer Discretionary0.57%
72Bandhan Bank LimitedFinancial Services0.5%
73National Aluminium Company LimitedMaterials0.46%

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Frequently Asked Questions

Yes. As of its 30 September 2026 disclosure, ESDS SOFTWARE SOLUTION LTD is 6.03% of ITI Business Cycle Fund's net assets — its number 1 holding.
Yes. As of its 30 September 2026 disclosure, HDFC Bank Limited is 3.83% of ITI Business Cycle Fund's net assets — its number 2 holding.
Yes. As of its 30 September 2026 disclosure, ICICI Bank Limited is 2.37% of ITI Business Cycle Fund's net assets — its number 3 holding.
Yes. As of its 30 September 2026 disclosure, ETERNAL LIMITED is 2.19% of ITI Business Cycle Fund's net assets — its number 4 holding.
Yes. As of its 30 September 2026 disclosure, MANIPAL PAYMENT AND IDENTITY is 2.02% of ITI Business Cycle 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: ITI 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.