HDFC Top 100 Fund is an open-ended equity scheme, primarily focused on investing in large-cap stocks. The fund seeks long-term capital appreciation, maintaining at least 80% exposure to large-cap companies, as defined by SEBI. These are the top 100 companies in India by full market capitalization. Large-cap companies typically exhibit stability, withstand market cycles better, and benefit from economies of scale, making them a safer investment option for long-term growth.
Below are the top 10 holdings of HDFC Top 100 Fund as of September 2024, showcasing a strong representation from the banking, power, and telecom sectors.
| Name Of the Stock | Industry | Quantity | Market/ Fair Value (Rs. in Lacs.) | % to NAV |
| ICICI Bank Ltd. | Banks | 3,00,40,474 | 3,82,415.23 | 9.89 |
| HDFC Bank Ltd.£ | Banks | 2,01,26,319 | 3,48,597.91 | 9.01 |
| NTPC Limited | Power | 5,46,69,743 | 2,42,296.30 | 6.26 |
| Larsen and Toubro Ltd. | Construction | 58,22,954 | 2,14,025.59 | 5.53 |
| Bharti Airtel Ltd. | Telecom – Services | 1,19,21,785 | 2,03,808.88 | 5.27 |
| Infosys Limited | IT – Software | 89,79,648 | 1,68,422.28 | 4.35 |
| ITC Ltd. | Diversified FMCG | 3,16,91,145 | 1,64,207.67 | 4.24 |
| Reliance Industries Ltd. | Petroleum Products | 54,00,618 | 1,59,488.35 | 4.12 |
| Axis Bank Ltd. | Banks | 1,17,02,714 | 1,44,200.84 | 3.73 |
| Coal India Ltd. | Consumable Fuels | 2,75,57,721 | 1,40,585.71 | 3.63 |
Comparison with August 2024
The top five stocks have seen an increase in both value and portfolio allocation from August to September, reflecting the growing confidence in the banking and power sectors. Here are the top holdings for August 2024 for reference:
| Stock | Industry | % to NAV (August) | % to NAV (September) |
| ICICI Bank Ltd. | Banks | 9.77% | 9.89% |
| HDFC Bank Ltd. | Banks | 8.72% | 9.01% |
| NTPC Ltd. | Power | 6.02% | 6.26% |
| Larsen & Toubro Ltd. | Construction | 5.71% | 5.53% |
| Bharti Airtel Ltd. | Telecom – Services | 5.01% | 5.27% |
HDFC Top 100 Fund maintains diversification across various sectors, providing balanced exposure to key industries. The fund is heavily weighted towards the banking and IT sectors, which are typically more stable, with significant allocations to power, telecom, and construction.
| Portfolio Classification by Industry (%) | % of Portfolio |
| Banks | 29.53 |
| IT – Software | 7.81 |
| Pharmaceuticals & Biotechnology | 6.47 |
| Power | 6.26 |
| Automobiles | 5.64 |
| Construction | 5.53 |
| Diversified FMCG | 5.37 |
| Telecom – Services | 5.27 |
| Petroleum Products | 4.12 |
| Consumable Fuels | 3.63 |
| Consumer Durables | 2.87 |
| Finance | 2.63 |
| Agricultural Food & Other Products | 1.50 |
| Retailing | 1.44 |
| Cement & Cement Products | 1.30 |
| Non – Ferrous Metals | 1.12 |
| Personal Products | 1.11 |
| Chemicals & Petrochemicals | 0.90 |
| Oil | 0.81 |
| Electrical Equipment | 0.72 |
| Realty | 0.57 |
| Beverages | 0.50 |
| Insurance | 0.44 |
| Aerospace & Defense | 0.30 |
| Healthcare Services | 0.25 |
| Industrial Products | 0.23 |
| Cash, Cash Equivalents and Net Current Assets | 3.68 |
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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