Scheme

Axis Business Cycles Fund

Holds 85 companies worth ₹1,950 Cr in Sept 2026.

Fund house
AxisThe fund house that runs this scheme.
AUM
₹2,041 CrAxis Business Cycles Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 6.0% on Aug 2026, ₹2,171 Cr.
Largest holding
Larsen and ToubroLarsen and Toubro is 3.8% of this scheme's NAV.
Fund manager
Ashish NaikRuns it since 22 Feb 2023, as the fund house dates it.

Holdings^{(Feb 2023 – Sept 2026)}

Holdings in Sept 2026. Tick up to 2 to plot them.
Plot	85 companies ·	₹ Cr
	Larsen and Toubro	77.4
	Axis Bank	73.4
	ICICI Bank	73.2
	HDFC Bank	68
	Kotak Mahindra Bank Limited	55.5
	Grasim Industries	54.4
	Aether Industries Limited	52.7
	Bharti Airtel Limited	50.3
	PTC Industries Limited	45.3
	IndusInd Bank	45.1
	Reliance Industries	44.2
	One 97 Communications Limited	39.9
	HCL Technologies	39.6
	Jindal Steel and Power Limited	31.9
	Eternal Limited	31.9
	Solar Industries India	30.9
	Sona Blw Precision Forgings	30.9
	Mahindra and Mahindra Limited	30.6
	Bajaj Finance Limited	30.3
	Creditaccess Grameen Limited	29.3
	NTPC	27.6
	Vishal Mega Mart Limited	27.5
	Bosch	25.9
	Tata Motors Limited	25.7
	TD Power Systems Limited	24.3
	Hyundai Motor India Limited	24.3
	PNB Housing Finance Limited	23.7
	Titagarh Rail System Ltd	22.9
	Asian Paints	22.4
	Aurobindo Pharma	22.3
	Mankind Pharma Limited	22
	Endurance Technologies Limited	21.5
	Hindustan Zinc	21.2
	Ratnakar Bank Limited	20.7
	Canara Bank	19.9
	Hindustan Copper Limited	19.9
	Pine Labs Limited	19.7
	Amber Enterprises India Limited	19.5
	Delhivery Limited	19.4
	Orient Refractories Limited	19.4
	Bajaj Finserv Limited	19.3
	ABB	19.2
	Brigade Enterprises Ltd	19.1
	Ambuja Cement	18.8
	Bharat Forge	18.7
	Vedanta Aluminium Metal Limited	18.7
	PI Industries Ltd	17.7
	Cummins India	17.2
	Swiggy Limited	17
	Gujarat Fluorochemicals Limited	16.6

Larsen and Toubro
Axis Bank

Market value of each ticked company in Axis Business Cycles Fund, ₹ crore. Month end. Source: AMC monthly portfolio disclosures.
Month	Larsen and Toubro	Axis Bank
Sept 2025	₹69.1 Cr	₹0 Cr
Oct 2025	₹76.1 Cr	₹0 Cr
Nov 2025	₹74.5 Cr	₹0 Cr
Dec 2025	₹74.8 Cr	₹0 Cr
Jan 2026	₹72 Cr	₹15.1 Cr
Feb 2026	₹78.3 Cr	₹50.9 Cr
Mar 2026	₹66.6 Cr	₹65.7 Cr
Apr 2026	₹82.6 Cr	₹71.7 Cr
May 2026	₹83.9 Cr	₹72.8 Cr
Jun 2026	₹85.3 Cr	₹76.1 Cr
Jul 2026	₹81.1 Cr	₹73.7 Cr
Aug 2026	₹83.2 Cr	₹77.9 Cr
Sept 2026	₹77.4 Cr	₹73.4 Cr

Fig. 1.Market value of each ticked company in Axis Business Cycles Fund, ₹ crore. Month end. Source: AMC monthly portfolio disclosures.

Allocation^{(Sept 2026)}

Market cap

		% of NAV
Large Cap	30	47.87

Mid Cap	26	23.46

Small Cap	29	24.27

Cash & others		4.40

Sectors

Companies

Fig. 2.This scheme's holdings, by market cap, by sector and by company. Hover a slice or a row; click a slice to open it.

Buying and selling, month by month^{(Oct 2025 – Sept 2026)}

Buying and selling, month by month. Change in market value since the previous month, ₹ crore. Month end. Source: AMC monthly portfolio disclosures.

Fig. 3.Change in market value since the previous month, ₹ crore. Month end. Source: AMC monthly portfolio disclosures.

Portfolio^{(Sept 2026)}

Every holding in Sept 2026: its shares, market value (₹ crore) and % of NAV. Month end. Source: AMC monthly portfolio disclosures. Click a column's header to sort by it.

Larsen and Toubro	Equity	Construction	2.06L	77.4	3.79
Axis Bank	Equity	Banks	5.99L	73.4	3.60
ICICI Bank	Equity	Banks	5.54L	73.2	3.59
HDFC Bank	Equity	Banks	9.6L	68	3.34
Kotak Mahindra Bank Limited	Equity	Banks	13.3L	55.5	2.72
Grasim Industries	Equity	Cement & Cement Products	1.78L	54.4	2.67
Aether Industries Limited	Equity	Chemicals & Petrochemicals	3.1L	52.7	2.58
Bharti Airtel Limited	Equity	Telecom - Services	2.86L	50.3	2.47
PTC Industries Limited	Equity	Industrial Products	20.4K	45.3	2.22
IndusInd Bank	Equity	Banks	5L	45.1	2.21
Reliance Industries	Equity	Petroleum Products	3.73L	44.2	2.17
One 97 Communications Limited	Equity	Financial Technology (Fintech)	2.38L	39.9	1.96
HCL Technologies	Equity	IT - Software	3.22L	39.6	1.94
Jindal Steel and Power Limited	Equity	Ferrous Metals	2.81L	31.9	1.56
Eternal Limited	Equity	Retailing	9.95L	31.9	1.56
Solar Industries India	Equity	Chemicals & Petrochemicals	15.7K	30.9	1.51
Sona Blw Precision Forgings	Equity	Auto Components	3.72L	30.9	1.51
Mahindra and Mahindra Limited	Equity	Automobiles	1.04L	30.6	1.50
Bajaj Finance Limited	Equity	Finance	3.16L	30.3	1.49
Creditaccess Grameen Limited	Equity	Finance	2.31L	29.3	1.44
NTPC	Equity	Power	8.54L	27.6	1.35
Vishal Mega Mart Limited	Equity	Retailing	27.2L	27.5	1.35
Bosch	Equity	Auto Components	5.5K	25.9	1.27
Tata Motors Limited	Equity	Agricultural, Commercial & Construction Vehicles	6.09L	25.7	1.26
TD Power Systems Limited	Equity	Electrical Equipment	3.09L	24.3	1.19
Hyundai Motor India Limited	Equity	Automobiles	1.19L	24.3	1.19
PNB Housing Finance Limited	Equity	Finance	2.12L	23.7	1.16
Titagarh Rail System Ltd	Equity	Industrial Manufacturing	2.8L	22.9	1.12
Asian Paints	Equity	Consumer Durables	93.3K	22.4	1.10
Aurobindo Pharma	Equity	Pharmaceuticals & Biotechnology	1.33L	22.3	1.09
Mankind Pharma Limited	Equity	Pharmaceuticals & Biotechnology	87.8K	22	1.08
Endurance Technologies Limited	Equity	Auto Components	80.8K	21.5	1.05
Hindustan Zinc	Equity	Non - Ferrous Metals	3.75L	21.2	1.04
Ratnakar Bank Limited	Equity	Banks	5.12L	20.7	1.01
Canara Bank	Equity	Banks	16.7L	19.9	0.98
Hindustan Copper Limited	Equity	Non - Ferrous Metals	4.21L	19.9	0.98
Pine Labs Limited	Equity	Financial Technology (Fintech)	11.5L	19.7	0.97
Amber Enterprises India Limited	Equity	Consumer Durables	29.2K	19.5	0.95
Delhivery Limited	Equity	Transport Services	4.74L	19.4	0.95
Orient Refractories Limited	Equity	Industrial Products	5.04L	19.4	0.95
Bajaj Finserv Limited	Equity	Finance	1.12L	19.3	0.95
ABB	Equity	Electrical Equipment	28.3K	19.2	0.94
Brigade Enterprises Ltd	Equity	Realty	3.31L	19.1	0.93
Ambuja Cement	Equity	Cement & Cement Products	5.04L	18.8	0.92
Bharat Forge	Equity	Auto Components	97.3K	18.7	0.92
Vedanta Aluminium Metal Limited	Equity	Non - Ferrous Metals	4.53L	18.7	0.92
PI Industries Ltd	Equity	Fertilizers & Agrochemicals	76.7K	17.7	0.87
Cummins India	Equity	Industrial Products	36.1K	17.2	0.84
Swiggy Limited	Equity	Retailing	6.78L	17	0.83
Gujarat Fluorochemicals Limited	Equity	Chemicals & Petrochemicals	37.6K	16.6	0.81
Jubilant Ingrevia Limited	Equity	Chemicals & Petrochemicals	2.5L	16.3	0.80
Minda Corporation Limited	Equity	Auto Components	2.28L	15.8	0.77
Neogen Chemicals Limited	Equity	Chemicals & Petrochemicals	63.1K	15.5	0.76
Welspun Corp	Equity	Industrial Products	56.9K	15.5	0.76
Healthcare Global Enterprises Limited	Equity	Healthcare Services	2.26L	15.1	0.74
United Spirits	Equity	Beverages	1.06L	14.4	0.71
Sapphire Foods India Limited	Equity	Leisure Services	6.68L	14.2	0.70
Hindustan Aeronautics Limited	Equity	Aerospace & Defense	30.3K	14.1	0.69
Jindal Stainless Limited	Equity	Ferrous Metals	1.87L	14	0.69
Chalet Hotels Limited	Equity	Leisure Services	1.65L	14	0.68
Page Industries	Equity	Textiles & Apparels	3.8K	13.8	0.68
Max Healthcare Institute Limited	Equity	Healthcare Services	1.49L	13.8	0.68
MphasiS	Equity	IT - Software	64.1K	13.8	0.68
Shriram Pistons and Rings Ltd	Equity	Auto Components	28.1K	13.1	0.64
Anthem Biosciences Limited	Equity	Pharmaceuticals & Biotechnology	1.52L	13.1	0.64
Oil and Natural Gas Corporation Limited	Equity	Oil	5.56L	12.6	0.62
Alkem Laboratories Limited	Equity	Pharmaceuticals & Biotechnology	24.2K	12.5	0.61
Marico	Equity	Agricultural Food & other Products	1.47L	11.5	0.57
Tube Investments of India Ltd	Equity	Auto Components	47.8K	11.4	0.56
360 One Wam Limited	Equity	Capital Markets	1.06L	11	0.54
Coforge Limited	Equity	IT - Software	62.3K	10.9	0.53
Gland Pharma Limited	Equity	Pharmaceuticals & Biotechnology	36.2K	10.5	0.51
S J S Enterprises Limited	Equity	Auto Components	44.3K	10	0.49
Aarti Industries Limited	Equity	Chemicals & Petrochemicals	2.07L	9.9	0.48
Tech Mahindra	Equity	IT - Software	64.1K	9.8	0.48
Jubilant Foodworks Limited	Equity	Leisure Services	1.99L	9.1	0.45
Info Edge India Limited	Equity	Retailing	73.2K	8.9	0.44
SBI Life Insurance Co Ltd	Equity	Insurance	46.2K	7.8	0.38
Aditya Birla Real Estate Limited	Equity	Realty	58.4K	6.6	0.32
Onemi Technology Solutions Limited	Equity	Finance	1.78L	6.6	0.32
Interglobe Aviation Limited	Equity	Transport Services	12.1K	6	0.30
Jyoti CNC Automation Limited	Equity	Industrial Manufacturing	43.4K	4.5	0.22
Dr Reddy s Laboratories Limited	Equity	Pharmaceuticals & Biotechnology	32.5K	4	0.20
Cyient Dlm Limited	Equity	Aerospace & Defense	22.1K	2	0.10
Syngene International Limited	Equity	Healthcare Services	34.3K	1.3	0.060

Fig. 4.Every holding in Sept 2026: its shares, market value (₹ crore) and % of NAV. Month end. Source: AMC monthly portfolio disclosures.