Mutual fund · Sectoral / Thematic
HDFC Business Cycle Fund
₹2,646 cr across 58 positions, as filed for 2026-09-30. Returns are the fund's AMFI growth-plan NAV; holdings and behavior come from its filed monthly portfolios.
Returns, against the category
Q2 FY27: +2% over 1 year against the median Sectoral / Thematic fund's +2%.
| Over | Quarter | 1 year | 3 years (ann.) | 5 years (ann.) |
|---|---|---|---|---|
| HDFC Business Cycle Fund | 0% | +2% | +9% | — |
| Median Sectoral / Thematic fund | −2% | +2% | +12% | +11% |
+28%Q3 FY24+35%Q4 FY24+30%Q1 FY25+35%Q2 FY25+14%Q3 FY25+4%Q4 FY25+3%Q1 FY26−5%Q2 FY26+2%Q3 FY26−6%Q4 FY26+1%Q1 FY27+2%Q2 FY27
What moved the fund, last 12 filed months
Contribution = the fund's filed weight each month × that stock's price move in its own filings, in percentage points of NAV. Corporate-action months are left out.
| Stock | 12 months | Latest month |
|---|---|---|
| Aether Industries Ltd | +2.1 pp | +0.0 pp |
| PEARL GLOBAL INDUSTRIES LIMITED | +1.3 pp | 0.0 pp |
| Titan Company Ltd. | +0.9 pp | −0.5 pp |
| Bajaj Auto Limited | +0.7 pp | −0.2 pp |
| Shriram Finance Ltd. | +0.7 pp | 0.0 pp |
| Stock | 12 months | Latest month |
|---|---|---|
| Vishal Mega Mart Limited | −1.2 pp | −0.2 pp |
| HDFC Bank Ltd. | −1.1 pp | −0.0 pp |
| Eris Lifesciences Ltd | −0.8 pp | −0.1 pp |
| Ambuja Cements Ltd. | −0.7 pp | 0.0 pp |
| Aptus Value Housing Finance India Ltd | −0.6 pp | −0.1 pp |
Holdings, as filed for 2026-09-30
| Holding | Sector | % of fund | Value | Held for | Vs avg cost |
|---|---|---|---|---|---|
| Bharti Airtel Limited | Telecommunication | 5.69% | ₹151 cr | 45 mo | +129% |
| Kotak Mahindra Bank Limited | Financial Services | 5.31% | ₹141 cr | 45 mo | +7% |
| ICICI Bank | Financial Services | 5.21% | ₹138 cr | 45 mo | +59% |
| Titan Company Limited | Consumer Durables | 4.46% | ₹118 cr | 45 mo | +61% |
| Anthem Biosciences Limited | Healthcare | 3.78% | ₹100 cr | 15 mo | +12% |
| Pearl Global Industries Limited | Textiles | 3.28% | ₹87 cr | 14 mo | +81% |
| HDFC Bank | Financial Services | 3.24% | ₹86 cr | 45 mo | -12% |
| Eternal Ltd | Consumer Services | 2.86% | ₹76 cr | 29 mo | +49% |
| Vishal Mega Mart Limited | Consumer Services | 2.52% | ₹67 cr | 16 mo | -25% |
| Clean Max Enviro Energy Solutions Limited | Power | 2.38% | ₹63 cr | 8 mo | +26% |
| Cholamandalam Investment and Finance Company Limited | Financial Services | 2.28% | ₹60 cr | 45 mo | +75% |
| IndusInd Bank Limited | Financial Services | 2.24% | ₹59 cr | 45 mo | -19% |
| Bajaj Auto | Automobile and Auto Components | 2.23% | ₹59 cr | 14 mo | +26% |
| Home First Finance Company India Limited | Financial Services | 2.23% | ₹59 cr | 18 mo | -5% |
| Aadhar Housing Finance Limited | Financial Services | 2.17% | ₹58 cr | 29 mo | -3% |
How this fund actually behaves
Computed from every filed monthly portfolio (45 months of filings) by the research pipeline.
| Holding patience | Median months a position is held (25th–75th band) | 13 mo (6–18) |
| Win rate on exits | Closed positions sold above entry, and the payoff ratio (88 exits) | 64% · payoff 2.7× |
| Loser handling | Cuts losers vs averages down, from 12 months of filings | Mixed |
| Entry valuation discipline | Median P/E paid on entries over 36 months; share above 50× | 46× · 44% over 50× |
| Portfolio valuation today | Weighted P/E and P/B of the current book at filed prices (P/E covers 93% of equity) | 55.8× P/E · 7.7× P/B · 5% loss-makers |
| Churn | Stocks entered and exited in 12 months, of 58 positions | 25 in · 36 out |
| Concentration | Top 10 holdings' share; effective number of positions | 39% · ~31 effective |