Big-10 funds and their portfolio stock moves in January 2023

One way to closely follow what the mutual funds are doing is to track the actions of the large funds houses based on equity AUM. Here we look at the top 10 mutual fund AMCs by equity AUM and evaluate at 2 levels. Firstly, we look at the stocks that they purchased and at the large cap holdings that they tweaked in January 2023. It represents virtually the microcosm of the Indian markets and gives a quick view of which stocks were preferred by which funds and which stocks were not so preferred. 

How SBI Mutual Fund churned its equity portfolio in January 2023

Let us first look at the shares that SBI Mutual Fund bought in the month of January 2023, across all market cap classes but predominantly large caps. In terms of MOM percentage increase, SBI MF added to its positions in ICICI Bank and Bharti Airtel. It also added Axis Bank, Reliance Industries and Infosys Ltd to its portfolio in the January 2023.

SBI Mutual Fund was flat to neutral in stocks like HDFC Bank, Larsen & Toubro and ITC Ltd. However, SBI MF cut its stake in State Bank of India and HDFC Ltd. The fund’s top 3 mid-cap picks for the month of January 2023 in terms of percentage growth in holding included FSN E-Commerce Ventures (Nykaa), SAIL Ltd and Glaxo SmithKline Pharmaceuticals Ltd.

How ICICI Prudential Mutual Fund churned its equity portfolio in January 2023

Let us first look at what are the shares that ICICI Prudential Mutual Fund bought in the month of January 2023, across market cap classes. In terms of MOM percentage increase, ICICI Prudential Mutual Fund added to its positions in Reliance Industries, ICICI Bank, Axis Bank, Bharti Airtel, NTPC Ltd and State Bank of India.

There were several stocks in which ICICI Prudential Mutual Fund cut positions. These included stocks like HDFC Bank Ltd, Sun Pharma Ltd, Larsen & Toubro Ltd and Infosys Ltd. The fund’s top 3 picks for January 2023 based on percentage increase in holdings include Zomato Ltd, Tata Motors and Info Edge Ltd.

How HDFC Mutual Fund churned its equity portfolio in January 2023

Let us first focus on what are the shares that HDFC Mutual Fund bought in the month of January 2023, across market cap classes. In terms of MOM percentage increase, HDFC Mutual Fund added to its positions in large cap stocks like Reliance Industries, ICICI Bank, Axis Bank, Infosys Ltd and HDFC Ltd.

There were several stocks in which HDFC Mutual Fund cut positions. These included stocks like State Bank of India, ITC Ltd and L&T. In addition, the fund stayed neutral on stocks like HDFC Bank and NTPC Ltd for the month of January 2023. The fund’s top 3 picks for the month of January 2023 based on the percentage increase in holdings included Gland Pharma, TVS Motors and Bajaj Finserv Ltd.

How Nippon India Mutual Fund churned its equity portfolio in January 2023

Let us first look at the shares that Nippon India Mutual Fund bought in the month of January 2023, across market cap classes. In terms of MOM percentage increase, Nippon India MF added to its positions in Reliance Industries, HDFC Bank, ICICI Bank, State Bank of India, Axis Bank, Infosys Ltd, Powergrid Ltd and ONGC.

There was one major large cap stock in which Nippon India Mutual Fund cut positions and that was Larsen & Toubro. In addition, the fund stayed neutral on NTPC Ltd for the month of January 2023. The fund’s top 3 picks for the month of January 2023 based on the percentage increase in holdings included TTK Prestige, Piramal Enterprises and FSN E-Commerce Ventures Ltd (Nykaa).

How UTI Mutual Fund churned its equity portfolio in January 2023

What are the shares that UTI Mutual Fund bought in the month of January 2023? In terms of MOM percentage increase, UTI MF added to its positions in Kotak Mahindra Bank, ICICI Bank, HDFC Bank, Infosys Ltd and Tata Consultancy Services (TCS).

UTI Mutual Fund cut its position in Axis Bank and ITC Ltd during the month of January 2023. In addition, the fund remained neutral on Reliance Industries, HDFC Ltd and Bharti Airtel Ltd. The fund’s top 3 picks for the month of January 2023 based on the percentage increase in holdings included Muthoot Finance Ltd, Metro Brands Ltd and Persistent Systems Ltd.

How Aditya Birla Sun Life (ABSL) Mutual Fund churned its equity portfolio in January 2023

Let us first look at the shares that Aditya Birla Sun Life (ABSL) Mutual Fund bought in the month of January 2023, across market cap classes. In terms of MOM percentage increase, ABSL MF added to its positions in HDFC Bank, SBI, Bharti Airtel, Infosys, Reliance Industries and Larsen & Toubro Ltd.

Aditya Birla Sun Life Mutual Fund cut positions in Axis Bank and Sun Pharmaceuticals Ltd. In addition, the fund also stayed neutral on ICICI Bank Ltd and HDFC Ltd. The fund’s top 3 picks for the month of January 2023 based on the percentage increase in holdings included Power Finance Corporation, Samvardhana Motherson International and Apollo Tyres Ltd.

How Axis Mutual Fund churned its equity portfolio in January 2023

Let us now turn to the shares that Axis Mutual Fund bought in the month of January 2023, across market cap classes. In terms of MOM percentage increase, Axis MF added to its positions in Tata Consultancy Services (TCS) in January 2023.

Axis Mutual Fund cut positions in several stocks including ICICI Bank Ltd, Infosys Ltd, Avenue Supermarts, Pidilite Industries, HDFC Bank Ltd, HDFC Ltd and Info Edge Ltd. In addition, the fund stayed neutral on Kotak Mahindra Bank in January 2023. The fund’s top 3 picks for the month of January 2023 based on the percentage increase in holdings included AIA Engineering, Tata Motors and United Breweries  Ltd.

How Kotak Mahindra Mutual Fund churned its equity portfolio in January 2023

Let us look at what are the shares Kotak Mahindra Mutual Fund bought in the month of January 2023, across market cap classes. In terms of MOM percentage increase, Kotak Mahindra MF added HDFC Bank Ltd, State Bank, ICICI Bank, Axis Bank, Reliance Industries and Infosys Ltd.

There were several stocks in which Kotak Mahindra Mutual Fund cut positions including Ultratech Cements, Maruti Suzuki and Larsen & Toubro Ltd. The fund stayed neutral on SRF Ltd for January 2023. The fund’s top picks for January 2023 based on percentage increase in holdings included South Indian Bank, Asian Paints and Dixon Technologies Ltd.

How Mirae Mutual Fund churned its equity portfolio in January 2023

Mirae Mutual Fund bought a large chunk of Reliance Industries followed by HDFC Ltd during the month of January 2023. The fund also bought Bharti Airtel, L&T, SBI and ICICI Bank. Mirae Mutual Fund cut positions in Maruti Suzuki and Axis Bank, but remained neutral on HDFC Bank and Infosys Ltd. 

The fund’s top 3 mid-cap picks for January 2023 based on percentage increase in holdings included Ultratech Cements, United Spirits and Apollo Hospitals.

How DSP Mutual Fund churned its equity portfolio in January 2023

DSP Mutual Fund bought a large chunk of Bajaj Finance and smaller quantities of ICICI Bank, Axis Bank, IPCA Labs, Emami and Alkem Laboratories. DSP Mutual Fund cut positions in HCL Technologies, HDFC Bank and Supreme Industries, but remained neutral on Infosys Ltd.

The fund’s top 3 mid-cap picks for the month of January 2023 based on percentage increase in holdings were Engineers India, Ambuja Cements and Apar Industries in January 2023.