Just 13% large-cap funds beat benchmarks. A look at stocks the winners love to hold

Out of the 31 schemes in the large-cap category, only four have outperformed their respective benchmark indices; either Nifty 100 TRI or S&P BSE 100 TRI. The Securities and Exchange Board of India’s 2018 category recategorisation rule may have made large-cap funds truer to label and benchmark against Total Returns Index (TRI) has made the life tougher for large-cap funds. Expense ratios further squeeze their performances. That is why a large-cap fund constructs its top 10 portfolio Typically, these constitute about 50-60 percent of the overall portfolio. Let's take a look at the top 10 stock holdings of those large-cap funds that outperformed the benchmarks in 2022 and compare them with the weightage in their respective indices. Portfolio data as of November 30, 2022. [Source: ACEMF]

Nippon India Large Cap Fund
YTD return of the scheme: 8.6%
YTD return of the benchmark (S&P BSE 100 – TRI): 4%
Fund manager: Sailesh Raj Bhan
AUM: Rs 12,922 crore
Allocation to top-10 holdings: 55%
Break-up of large-cap, mid-cap, small-cap and cash in the portfolio: 85:9:5:1
Sample of mid and smallcap stocks in the portfolio: 3M India, ABB India, Ashok Leyland, Chalet Hotels and EIH

HDFC Top 100 Fund
YTD return of the scheme: 8.5%
YTD return of the benchmark (Nifty 100 TRI): 2.8%
Fund manager: Rahul Baijal
AUM: Rs 23,453 crore
Allocation to top-10 holdings: 56%
Break-up of large-cap, mid-cap, small-cap and cash in the portfolio: 87:7:0:6
Sample of mid and smallcap stocks in the portfolio: ABB India, Aurobindo Pharma, Container Corporation Of India, Hindustan Petroleum Corporation and Lupin

ICICI Prudential Bluechip Fund
YTD return of the scheme: 5%
YTD return of the benchmark (Nifty 100 TRI): 2.8%
Fund manager: Vaibhav Dusad
AUM: Rs 35,929 crore
Allocation to top-10 holdings: 58%
Break-up of large-cap, mid-cap, small-cap and cash in the portfolio: 83:8:1:8
Sample of mid and smallcap stocks in the portfolio: Alkem Laboratories, Bharat Forge, Biocon, Cummins India and Gujarat Pipavav Port

Indiabulls Blue Chip Fund
YTD return of the scheme: 2.83%
YTD return of the benchmark (Nifty 100 TRI): 2.8%
Fund manager: Sumit Bhatnagar
AUM: Rs 103 crore
Allocation to top-10 holdings: 59%
Break-up of large-cap, mid-cap, small-cap and cash in the portfolio: 87:7:2:4
Sample of mid and smallcap stocks in the portfolio: Bata India, Container Corporation Of India, IDBI Bank and Birla Corporation