HDFC Top 100 Fund

(An Open-ended Equity Scheme predominantly investing in large cap stocks)

May 2024

AUM
April 2024

INR 33,170.08 Cr.

Investment Objective
To provide long-term capital appreciation/income by investing predominantly in Large-Cap companies. There is no assurance that the
investment objective of the Scheme will be realized.

HDFC Top 100 Fund: Investment Strategy

The fund seeks to invest in higher quality, competitive, sustainable businesses by primarily restricting the equity portfolio to large cap stocks.
 The Investment universe of “Large Cap” will be as defined by SEBI from time to time.
 Investment universe: The universe of “Large Cap” shall consist of 1st to 100th company in terms of full market capitalization, as defined
by SEBI from time to time. The list of large cap stocks prepared by AMFI in this regard will be adopted as the investment universe.
 A minimum of 80% of the funds are invested in large cap stocks.
 The fund is by design well diversified
 The portfolio is designed to reduce risk while maintaining stable growth

Top 10 Equity Holdings (as on 30th April, 2024)

% to
Company Industry*
NAV

ICICI Bank Ltd. Banks 10.00

HDFC Bank Ltd.£ Banks 8.01
Reliance Industries Ltd. Petroleum Products 6.91
NTPC Limited Power 5.99
Larsen and Toubro Ltd. Construction 5.48
Bharti Airtel Ltd. Telecom - Services 4.75
Infosys Limited IT - Software 4.53
ITC Ltd. Diversified Fmcg 4.16
Axis Bank Ltd. Banks 4.11
Coal India Ltd. Consumable Fuels 3.77

* Industry classification as recommended by AMFI. For complete portfolio details please refer to the website www.hdfcfund.com £ Sponsor

Top 10 Sectoral Trend (as on 30th April, 2024) Quantitative Data (Risk Ratios)
% to NAV
Industry Standard Deviation 12.717%
Nov Dec Jan Feb Mar Apr
23 23 24 24 24 24
Beta 0.918
Financial Services 35.8 35.5 32.9 31.8 32.2 33.5
Oil, Gas & Consumable Fuels 10.7 10.9 11.7 11.9 11.8 11.6 Sharpe Ratio* 1.130
Information Technology 9.2 9.7 10.2 10.3 9.3 8.5
Fast Moving Consumer Goods 8.5 8.5 8.1 7.7 7.6 7.7 Computed for the 3 - year period ended April 30,
2024. Based on month end NAV.* Risk free Rate: 6.75%
Healthcare 6.9 6.7 7.5 7.1 7.1 6.4 (Source: FIMMDA MIBOR)
Power 5.2 5.6 5.6 5.8 5.7 6.0
Automobile and Auto Components 4.8 4.3 4.5 5.0 5.2 5.7 Portfolio Turnover Ratio
Construction 3.9 4.9 5.2 5.6 5.9 5.5
Telecommunication 4.4 4.1 4.5 4.2 4.5 4.8 Portfolio Turnover Ratio
Capital Goods 2.4 2.6 2.6 2.8 2.2 2.5 (Last 1 Year) : 15.62%

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 HDFC Top 100 Fund
(An Open-ended Equity Scheme predominantly investing in large cap stocks)

May 2024

Market Cap Segment wise Exposure

Nov 2023 Dec 2023 Jan 2024 Feb 2024 Mar 2024 Apr 2024
Large Cap 91.1% 93.0% 95.0% 95.0% 94.6% 96.4%
Mid Cap 5.6% 4.8% 2.5% 1.7% 1.7% 1.7%
Small Cap 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
% of Net Assets (As per AMFI classification as on December 2023)

Fund Facts
Category of Scheme Large Cap Fund
Fund Manager* Mr. Rahul Baijal (since July 29, 2022)
Inception Date October 11, 1996
Benchmark NIFTY 100 ( Total Returns Index)
Investment Regular Plan, Direct Plan. Under Each Plan: Growth & Income Distribution cum Capital Withdrawal (IDCW) Option. The IDCW
Plans / Options Option offers following Sub-Options: Payout of Income Distribution cum Capital Withdrawal (IDCW) Option; and Reinvestment of
Income Distribution cum Capital Withdrawal (IDCW) Option.
• In respect of each purchase / switch-in of Units, an Exit Load of 1.00% is payable if Units are redeemed / switched-out within 1
Exit Load year from the date of allotment.
• No Exit Load is payable if Units are redeemed / switchedout after 1 year from the date of allotment.
*Dedicated fund manager for overseas investments : Mr. Dhruv Muchhal (since June 22, 2023)

What's In What's Out (30th April, 2024 vs 31st March 2024)

Entry Exit
Company Name Industry Company Name Industry
Eicher Motors Ltd. Automobiles Nil Nil

Increased Decreased
Company Name Industry Company Name Industry

Hindalco Industries Ltd. Non - Ferrous Metals Sun Pharmaceuticals Ind Ltd. Pharmaceuticals & Biotechnology
Havells India Ltd. Consumer Durables Wipro Ltd. IT - Software
Kotak Mahindra Bank Ltd. Banks
HDFC Bank Ltd. Banks
Dabur India Ltd. Personal Products
Indusind Bank Ltd. Banks
United Spirits Ltd. Beverages

Product Labelling
This product is suitable for investors who are seeking* Riskometer#
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 To generate long term capital appreciation/income oderate High tely
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Investment predominantly in Large-cap companies
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RISKOMETER
*Investors should consult their financial advisers, if in doubt about whether the product is suitable for them. Investors understand that their principal will be at
very high risk
# For latest Riskometer, investors may refer to the Monthly Portfolios disclosed on the website of the Fund viz. www.hdfcfund.com

Stocks/Sectors referred should not be construed as an investment advice or a recommendation by HDFC Mutual Fund (“the Fund”) / HDFC
AMC to buy or sell the stock or any other security covered under the respective sector/s. The Fund may or may not have any present or future
positions in these stocks/sectors.
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MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY.