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HSBC Business Cycles Fund - Direct Plan - IDCW

  • Regular
  • Direct
Category : Sectoral/Thematic
Fund House : L&T Mutual Fund
Portfolio Turnover Ratio : 17.00%. Category average turnover ratio is 203.09%. Fund manager updated portfolio less frequently than peers in last 1 year. (I.e. fund manager held stocks/bonds in the portfolio for longer duration than peers)
Equity Holding : 92.73% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 92.73%
No of Stocks : 65 (Category Avg - 44.42) | Large Cap Investments : 22.98%| Mid Cap Investments : 13.47% | Small Cap Investments : 32.68% | Other : 23.6%

Portfolio Summary (as on 30th Sep,2025)

Particulars This Scheme Category
No. of Stocks 65 43.34
Top 5 Stock Weight 22.03% 32.63%
Top 10 Stock Weight 34.25% 49.7%
Top 3 Sector Weight 25.16% 43.81%
Particulars This Scheme Category
Average mcap (Cr) 75582.87 73374.89
Holdings in large cap stocks 22.98% 37.73%
Holdings in mid cap stocks 13.47% 14.7%
Holdings in small cap stocks 32.68% 13%

Top 10 Stocks holding in Portfolio (as on 30th Sep,2025)

Stock Invested in Sector Value(Mn) % of Total Holdings 1M Change 1Y Highest Holding 1Y Lowest Holding Quantity 1M Change in Qty
ICICI Bank Ltd. Private sector bank 572.9 5.13% -0.31% 6.08% (Apr 2025) 5.13% (Sep 2025) 4.25 L 0.00
Multi Commodity Exchange Of India Ltd. Exchange and data platform 554.3 4.96% 0.15% 6.17% (Oct 2024) 4.81% (Aug 2025) 71.10 k 0.00
Reliance Industries Ltd. Refineries & marketing 547.9 4.90% -0.09% 5.66% (Apr 2025) 3.41% (Dec 2024) 4.02 L 0.00
HDFC Bank Ltd. Private sector bank 469.4 4.20% -0.10% 5% (Feb 2025) 3.31% (Dec 2024) 4.94 L 0.00
Trent Limited Speciality retail 317.6 2.84% -1.80% 7.21% (Oct 2024) 2.84% (Sep 2025) 67.90 k -0.28 L
Hindustan Aeronautics Ltd. Aerospace & defense 302.8 2.71% 0.18% 2.71% (Sep 2025) 0% (Oct 2024) 63.80 k 0.00
Ahluwalia Contracts (India) Ltd. Civil construction 273.6 2.45% 0.13% 2.92% (Oct 2024) 2.08% (Feb 2025) 2.75 L 0.00
Bharat Electronics Ltd. Aerospace & defense 272.4 2.44% 0.16% 3.11% (Mar 2025) 2.12% (Apr 2025) 6.74 L 0.00
Swiggy Ltd. E-retail/ e-commerce 269.6 2.41% 0.02% 2.41% (Sep 2025) 0% (Oct 2024) 6.38 L 0.00
Power Finance Corporation Ltd. Financial institution 247.5 2.21% 0.11% 2.94% (Nov 2024) 2.1% (Aug 2025) 6.03 L 0.00
- indicates change in weight in the portfolio. # indicates a new entry.

Complete equity Portfolio (as on 30th Sep,2025)

Help me understand this table
Stock Invested in
Sector
Sector Total
Value(Mn)
% of Total Holdings
1M Change
1Y Highest Holding
1Y Lowest Holding
Quantity
1M Change in Qty
M-Cap
GroupName
ICICI Bank Ltd. Private sector bank 11.3 572.9 5.13% -0.31% 6.08% (Apr 2025) 5.13% (Sep 2025) 4.25 L 0.00 Large Cap 22.98
Multi Commodity Exchange Of India Ltd. Exchange and data platform 4.96 554.3 4.96% 0.15% 6.17% (Oct 2024) 4.81% (Aug 2025) 71.10 k 0.00 Small Cap 32.68
Reliance Industries Ltd. Refineries & marketing 4.9 547.9 4.90% -0.09% 5.66% (Apr 2025) 3.41% (Dec 2024) 4.02 L 0.00 Large Cap 22.98
HDFC Bank Ltd. Private sector bank 11.3 469.4 4.20% -0.10% 5% (Feb 2025) 3.31% (Dec 2024) 4.94 L 0.00 Other 23.6
Trent Limited Speciality retail 3.66 317.6 2.84% -1.80% 7.21% (Oct 2024) 2.84% (Sep 2025) 67.90 k -0.28 L Mid Cap 13.47
Hindustan Aeronautics Ltd. Aerospace & defense 5.15 302.8 2.71% 0.18% 2.71% (Sep 2025) 0% (Oct 2024) 63.80 k 0.00 Other 23.6
Ahluwalia Contracts (India) Ltd. Civil construction 8.53 273.6 2.45% 0.13% 2.92% (Oct 2024) 2.08% (Feb 2025) 2.75 L 0.00 Small Cap 32.68
Bharat Electronics Ltd. Aerospace & defense 5.15 272.4 2.44% 0.16% 3.11% (Mar 2025) 2.12% (Apr 2025) 6.74 L 0.00 Mid Cap 13.47
Swiggy Ltd. E-retail/ e-commerce 4.28 269.6 2.41% 0.02% 2.41% (Sep 2025) 0% (Oct 2024) 6.38 L 0.00 Other 23.6
Power Finance Corporation Ltd. Financial institution 2.77 247.5 2.21% 0.11% 2.94% (Nov 2024) 2.1% (Aug 2025) 6.03 L 0.00 Mid Cap 13.47
Power Mech Projects Ltd. Civil construction 8.53 245.7 2.20% -0.30% 2.7% (Oct 2024) 1.91% (Feb 2025) 90.80 k 0.00 Small Cap 32.68
Larsen & Toubro Ltd. Civil construction 8.53 243.3 2.18% -0.01% 3.04% (Jan 2025) 2.12% (Jun 2025) 66.50 k 0.00 Large Cap 22.98
Ultratech Cement Ltd. Cement & cement products 2.76 239.6 2.14% -0.13% 2.35% (Jan 2025) 2.04% (May 2025) 19.60 k 0.00 Large Cap 22.98
Mangalore Chemicals & Fertilisers Ltd. Fertilisers-nitrogenous 2.02 225.7 2.02% -0.23% 2.3% (Apr 2025) 1.42% (Oct 2024) 6.96 L -0.15 L Small Cap 32.68
Kotak Mahindra Bank Ltd. Private sector bank 11.3 219.8 1.97% -0.01% 2.48% (Mar 2025) 0% (Oct 2024) 1.10 L 0.00 Large Cap 22.98
Eternal Ltd. E-retail/ e-commerce 4.28 209.2 1.87% 0.02% 1.87% (Sep 2025) 0% (Oct 2024) 6.43 L 0.00 Other 23.6
PB Fintech Ltd. Financial technology (fintech) 1.81 202.8 1.81% -0.12% 3.04% (Dec 2024) 1.81% (Sep 2025) 1.19 L 0.00 Other 23.6
State Bank Of India Public sector bank 2.29 199.6 1.79% 0.11% 1.89% (Nov 2024) 1.62% (Jul 2025) 2.29 L 0.00 Large Cap 22.98
Kirloskar Pneumatic Co. Ltd. Compressors, pumps & diesel engines 1.73 193.4 1.73% -0.06% 2.8% (Nov 2024) 1.73% (Sep 2025) 1.61 L 0.00 Small Cap 32.68
GE T&D India Ltd. Heavy electrical equipment 5.33 174.7 1.56% 0.06% 1.56% (Sep 2025) 0.92% (Feb 2025) 59.00 k 0.00 Small Cap 32.68
Time Technoplast Ltd. Plastic products - industrial 1.55 172.9 1.55% -0.17% 1.96% (Dec 2024) 1.39% (Apr 2025) 8.24 L 4.12 L Small Cap 32.68
TVS Motor Company Ltd. 2/3 wheelers 1.56 171.9 1.54% 0.04% 1.54% (Sep 2025) 1.14% (Dec 2024) 50.00 k 0.00 Mid Cap 13.47
ABB India Ltd. Heavy electrical equipment 5.33 169 1.51% 0.02% 2.43% (Oct 2024) 1.49% (Aug 2025) 32.60 k 0.00 Large Cap 22.98
Blue Star Ltd. Household appliances 2.92 164.8 1.47% -0.04% 2.69% (Feb 2025) 1.35% (Jul 2025) 87.60 k 0.00 Small Cap 32.68
Amber Enterprises India Ltd. Household appliances 2.92 161.8 1.45% 0.12% 1.75% (Mar 2025) 1.33% (Aug 2025) 20.00 k 0.00 Small Cap 32.68
Aditya Birla Real Estate Ltd. Paper & paper products 1.32 147.5 1.32% -0.08% 2.41% (Oct 2024) 1.32% (Sep 2025) 87.30 k 0.00 Mid Cap 13.47
Motilal Oswal Financial Services Ltd. Stockbroking & allied 1.69 147.4 1.32% 0.02% 1.34% (Jul 2025) 0% (Oct 2024) 1.65 L 0.00 Small Cap 32.68
TBO TEK Ltd. Tour, travel related services 1.26 140.8 1.26% 0.15% 1.26% (Sep 2025) 0% (Oct 2024) 92.30 k 0.00 Other 23.6
KEC International Ltd. Heavy electrical equipment 5.33 139.2 1.25% 0.07% 1.85% (Dec 2024) 1.12% (Apr 2025) 1.60 L 0.00 Small Cap 32.68
PNB Housing Finance Ltd. Housing finance company 1.19 133.5 1.19% 0.12% 1.56% (Apr 2025) 1.07% (Aug 2025) 1.55 L 0.00 Mid Cap 13.47
Mold-Tek Packaging Ltd. Packaging 1.19 133.3 1.19% -0.12% 1.31% (Aug 2025) 0% (Oct 2024) 1.83 L 0.00 Small Cap 32.68
Jyoti CNC Automation Ltd. Industrial products 2.78 131.9 1.18% -0.12% 1.3% (Aug 2025) 0% (Oct 2024) 1.55 L 0.00 Other 23.6
Epigral Ltd. Specialty chemicals 2.21 129.1 1.16% -0.11% 1.62% (Oct 2024) 1.16% (Sep 2025) 76.35 k 0.00 Other 23.6
Gokaldas Exports Ltd. Garments & apparels 1.14 127.1 1.14% 0.05% 1.93% (Dec 2024) 1.09% (Aug 2025) 1.77 L 0.00 Small Cap 32.68
# Sobha Ltd. Residential, commercial projects 1.13 126.7 1.13% 1.13% 1.13% (Sep 2025) 0% (Oct 2024) 82.20 k 82.20 k Small Cap 32.68
Indian Hume Pipe Co. Ltd. Industrial products 2.78 119.6 1.07% -0.03% 1.49% (Oct 2024) 1.07% (Sep 2025) 3.33 L 0.00 Small Cap 32.68
Gujarat Fluorochemicals Ltd. Specialty chemicals 2.21 117.2 1.05% 0.06% 1.37% (Oct 2024) 0.99% (Aug 2025) 31.60 k 0.00 Other 23.6
Suzlon Energy Ltd. Heavy electrical equipment 5.33 112.3 1.01% -0.04% 1.35% (May 2025) 0.84% (Oct 2024) 20.40 L 0.00 Small Cap 32.68
# InterGlobe Aviation Ltd. Airline 1 111.9 1.00% 1.00% 1% (Sep 2025) 0% (Oct 2024) 20.00 k 20.00 k Large Cap 22.98
Hindalco Industries Ltd. Aluminium 0.99 110.2 0.99% 0.06% 1.07% (Feb 2025) 0.84% (Dec 2024) 1.45 L 0.00 Large Cap 22.98
Devyani International Ltd. Restaurants 0.98 109.1 0.98% -0.06% 1.04% (Aug 2025) 0% (Oct 2024) 6.49 L 0.00 Other 23.6
Titan Company Ltd. Gems, jewellery and watches 0.87 97.6 0.87% -0.09% 1.06% (Jan 2025) 0.86% (Jul 2025) 29.00 k 0.00 Large Cap 22.98
EIH Ltd Hotels & resorts 0.84 94.4 0.84% -0.12% 1.06% (Dec 2024) 0.84% (Sep 2025) 2.62 L 0.00 Mid Cap 13.47
Electronics Mart lndia Ltd. Speciality retail 3.66 91.2 0.82% 0.08% 0.82% (Sep 2025) 0% (Oct 2024) 6.49 L 0.00 Other 23.6
Cholamandalam Investment & Finance Co. Ltd. Non banking financial company (nbfc) 0.76 85.4 0.76% 0.07% 0.87% (Feb 2025) 0.61% (Dec 2024) 53.00 k 0.00 Other 23.6
Indo Count Industries Ltd. Other textile products 1.23 84.7 0.76% 0.10% 0.97% (Feb 2025) 0% (Oct 2024) 3.13 L 0.00 Small Cap 32.68
Bansal Wire Industries Ltd. Iron & steel products 0.76 84.6 0.76% -0.06% 1.12% (Nov 2024) 0.76% (Sep 2025) 2.50 L 0.00 Other 23.6
Kajaria Ceramics Ltd. Ceramics 0.74 82.5 0.74% -0.04% 0.85% (Oct 2024) 0.57% (Apr 2025) 70.70 k 0.00 Small Cap 32.68
Aegis Logistics Ltd. Trading - gas 0.65 72.9 0.65% 0.06% 2.58% (Nov 2024) 0.59% (Aug 2025) 95.20 k 0.00 Small Cap 32.68
NCC Ltd. Civil construction 8.53 69.7 0.62% -0.01% 1.02% (Nov 2024) 0.62% (Sep 2025) 3.36 L 0.00 Small Cap 32.68
Birla Corporation Ltd. Cement & cement products 2.76 69.3 0.62% -0.03% 0.94% (Nov 2024) 0.6% (Apr 2025) 56.82 k 0.00 Small Cap 32.68
Motherson Sumi Wiring India Ltd. Auto components & equipments 1.14 68.6 0.61% 0.04% 0.63% (Oct 2024) 0.5% (Jul 2025) 15.00 L 0.00 Other 23.6
Rural Electrification Corporation Limited Financial institution 2.77 62.3 0.56% 0.02% 0.88% (Oct 2024) 0.54% (Aug 2025) 1.67 L 0.00 Mid Cap 13.47
Sterling and Wilson Solar Private Ltd. Civil construction 8.53 62 0.56% -0.05% 1.5% (Oct 2024) 0.56% (Sep 2025) 2.56 L 0.00 Other 23.6
Amara Raja Batteries Limited Auto components & equipments 1.14 59.5 0.53% -0.02% 0.84% (Oct 2024) 0.5% (Jun 2025) 60.10 k 0.00 Mid Cap 13.47
Pitti Engineering Ltd. Industrial products 2.78 59.1 0.53% 0.03% 0.85% (Nov 2024) 0.5% (Aug 2025) 59.30 k 0.00 Small Cap 32.68
PNC Infratech Ltd. Civil construction 8.53 57.6 0.52% -0.03% 0.65% (Jan 2025) 0.51% (Mar 2025) 1.96 L 0.00 Small Cap 32.68
Bank Of Baroda Public sector bank 2.29 56.1 0.50% 0.04% 0.55% (Oct 2024) 0.46% (Aug 2025) 2.17 L 0.00 Large Cap 22.98
Bharat Bijlee Ltd. Other electrical equipment 0.5 55.9 0.50% 0.02% 0.5% (Sep 2025) 0.24% (May 2025) 17.80 k 0.00 Other 23.6
Ganesha Ecosphere Ltd. Other textile products 1.23 52.9 0.47% -0.08% 0.61% (Nov 2024) 0.37% (May 2025) 44.90 k 0.00 Small Cap 32.68
IIFL Capital Services Ltd. Stockbroking & allied 1.69 41.7 0.37% -0.03% 0.57% (Oct 2024) 0.33% (Apr 2025) 1.49 L 0.00 Other 23.6
PG Electroplast Ltd. Consumer electronics 0.3 33.9 0.30% -0.03% 0.64% (Mar 2025) 0% (Oct 2024) 67.40 k 0.00 Other 23.6
Transformers & Rectifiers (India) Ltd. Power equipment 0.27 30.7 0.27% -0.01% 0.35% (Mar 2025) 0.27% (Jun 2025) 63.00 k 0.00 Small Cap 32.68
Hi-Tech Pipes Ltd. Commodities 0.27 29.7 0.27% 0.06% 0.48% (Oct 2024) 0.21% (Aug 2025) 2.60 L 0.00 Other 23.6
# TVS Motor Company Ltd. - Preference Shares 2/3 wheelers 1.56 2 0.02% 0.00% 0% (Oct 2025) 0% (Oct 2025) 2.00 L 0.00 Other 23.6
Brigade Enterprises Ltd. Residential, commercial projects 1.13 78.7 0.00% -0.72% - - - - Small Cap 32.68
- indicates change in weight in the portfolio. # indicates a new entry.

New Stocks added in Portfolio (in 1 month period ending 30th Sep,2025)

Stock Invested in Sector Value(Mn) % of Total Holdings 1M Change 1Y Highest Holding 1Y Lowest Holding Quantity 1M Change in Qty
# Sobha Ltd. Residential, commercial projects 126.7 1.13% 1.13% 1.13% (Sep 2025) 0% (Oct 2024) 82.20 k 82200
# InterGlobe Aviation Ltd. Airline 111.9 1.00% 1.00% 1% (Sep 2025) 0% (Oct 2024) 20.00 k 20000

Stocks removed from Portfolio (in 1 month period ending 30th Sep,2025)

Stock Invested in Sector Value(Mn) % of Total Holdings 1M Change 1Y Highest Holding 1Y Lowest Holding Quantity 1M Change in Qty
Brigade Enterprises Ltd. Residential, commercial projects 78.7 0.00% -0.72% 1.22% (Jan 2025) 0% (Oct 2024) 0.00 -85206

Trend in stock holdings (Top 15 Holding)

Stock Sep 2025 Aug 2025 Jul 2025 Jun 2025 May 2025 Apr 2025 Mar 2025 Feb 2025 Jan 2025 Dec 2024 Nov 2024 Oct 2024 Sep 2024
ICICI Bank Ltd. 5.13% 5.44% 5.60% 5.33% 5.70% 6.08% 5.92% 5.99% 5.55% 5.26% 5.44% 5.52% 5.39%
Trent Limited 2.84% 4.64% 4.27% 5.16% 5.01% 4.96% 5.27% 5.43% 5.74% 6.58% 6.73% 7.21% 8.08%
Multi Commodity Exchange Of India Ltd. 4.96% 4.81% 4.87% 5.51% 5.24% 5.26% 5.18% 5.51% 5.64% 5.68% 5.74% 6.17% 5.32%
Reliance Industries Ltd. 4.90% 4.99% 4.97% 5.23% 5.30% 5.66% 5.29% 5.64% 4.82% 3.41% 3.69% 3.63% 3.99%
HDFC Bank Ltd. 4.20% 4.30% 4.43% 4.28% 4.45% 4.76% 4.66% 5.00% 3.43% 3.31% 3.42% 3.37% 3.34%
Bharat Electronics Ltd. 2.44% 2.28% 2.30% 2.46% 2.41% 2.12% 3.11% 2.88% 3.05% 2.83% 3.03% 2.86% 2.84%
Larsen & Toubro Ltd. 2.18% 2.19% 2.15% 2.12% 2.27% 2.23% 2.95% 3.03% 3.04% 2.85% 3.00% 2.98% 3.00%
Ahluwalia Contracts (India) Ltd. 2.45% 2.32% 2.50% 2.42% 2.48% 2.34% 2.33% 2.08% 2.46% 2.72% 2.71% 2.92% 3.14%
Power Mech Projects Ltd. 2.20% 2.50% 2.52% 2.64% 2.62% 2.38% 2.55% 1.91% 2.04% 2.25% 2.53% 2.70% 3.04%
Aditya Birla Real Estate Ltd. 1.32% 1.40% 1.46% 1.84% 1.76% 1.68% 1.77% 1.90% 1.96% 2.12% - - -
Century Textile & Industries Ltd. - - - - - - - - - - 2.36% 2.41% 2.48%
Power Finance Corporation Ltd. 2.21% 2.10% 2.20% 2.24% 2.27% 2.46% 2.58% 2.57% 2.66% 2.61% 2.94% 2.30% 1.91%
PB Fintech Ltd. 1.81% 1.93% 1.92% 1.88% 2.44% 2.43% 2.45% 2.55% 2.69% 3.04% 2.78% 2.55% 2.41%
Ultratech Cement Ltd. 2.14% 2.27% 2.14% 2.06% 2.04% 2.29% 2.33% 2.32% 2.35% 2.16% 2.16% 2.18% 2.31%
Kirloskar Pneumatic Co. Ltd. 1.73% 1.79% 1.89% 1.98% 1.87% 1.82% 1.96% 1.88% 1.90% 2.39% 2.80% 2.68% 2.33%
Kotak Mahindra Bank Ltd. 1.97% 1.98% 1.94% 2.07% 2.12% 2.44% 2.48% 1.54% - - - - -
Name Type of Instrument Weight (%)
TREPS TREPS 7.40%
Net Receivables Net Receivables -0.13%

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