ICICI Prudential Large Cap Fund, India’s largest large cap mutual fund with assets under management (AUM) of ₹79,421 crore, made a series of portfolio changes in June. The fund initiated fresh positions in three companies, exited four stocks and sharply increased its holdings in Tata Steel and Container Corporation of India.
Large cap funds are required to invest at least 80% of their assets in large-cap companies, while the remaining corpus can be allocated to other segments. Here’s a look at the key portfolio changes ICICI Prudential Large Cap Fund made during June.
Bank of Baroda among new entries, Tata Steel sees biggest increase
The fund initiated fresh positions in Bank of Baroda, Hindalco Industries and Oberoi Realty during June. Among these, Bank of Baroda received the highest allocation at 0.30% of the portfolio.
|
Stock |
Sector |
June Weight |
| Bank of Baroda | Banking | 0.30% |
| Hindalco Industries | Non-Ferrous Metals | 0.08% |
| Oberoi Realty | Realty | 0.05% |
Weight as a percentage of net assets. Source: ICICI Prudential Mutual Fund
Apart from these fresh additions, the fund accumulated more shares of several existing holdings.
The sharpest increase was in Tata Steel, where the number of shares held rose by 263% during June. The fund also more than doubled its holdings in Container Corporation of India, while significantly increasing exposure to NHPC, Bajaj Finserv, Havells India, HDFC Asset Management Company and Trent.
|
Stock |
May Qty |
June Qty |
Change (%) |
| Tata Steel | 20.32 lakh | 73.85 lakh | +263% |
| Container Corporation of India | 17.51 lakh | 38.44 lakh | +120% |
| NHPC | 62.03 lakh | 1.04 crore | +68% |
| Bajaj Finserv | 17.82 lakh | 28.23 lakh | +58% |
| Havells India | 8.86 lakh | 13.76 lakh | +55% |
| HDFC Asset Management Company | 2.57 lakh | 3.97 lakh | +55% |
| Trent | 6.13 lakh | 9.25 lakh | +51% |
| Vedanta Aluminium Metal | 3.95 lakh | 5.84 lakh | +48% |
| Kotak Mahindra Bank | 16.00 lakh | 21.00 lakh | +31% |
| Tata Motors Passenger Vehicles | 8.83 lakh | 11.39 lakh | +29% |
Source: ICICI Prudential Mutual Fund
GAIL among four exits as Tata Power exposure is cut
The June portfolio also saw significant selling activity. While the fund reduced holdings in several existing companies, it made complete exits from four stocks during the month. The four stocks are GAIL (India), Gujarat Pipavav Port, Malco Energy and Talwandi Sabo Power.
Besides these complete exits, the fund reduced its holdings in several existing portfolio companies. The sharpest reduction was in Tata Power, followed by Vedanta Iron and Steel, InterGlobe Aviation, ABB India and Larsen & Toubro. It also reduced exposure to ITC Hotels, Maruti Suzuki India, Axis Bank and Wipro during the month.
|
Stock |
May Qty |
June Qty |
Change (%) |
| Tata Power | 17.48 lakh | 6.95 lakh | -60% |
| Vedanta Iron and Steel | 4.25 lakh | 1.96 lakh | -54% |
| InterGlobe Aviation | 13.76 lakh | 9.87 lakh | -28% |
| ABB India | 3.10 lakh | 2.29 lakh | -26% |
| Larsen & Toubro | 1.01 crore | 87.30 lakh | -13% |
| ITC Hotels | 1.39 crore | 1.22 crore | -12% |
| Maruti Suzuki India | 20.66 lakh | 18.41 lakh | -11% |
| Procter & Gamble Hygiene & Health Care | 1.24 lakh | 1.12 lakh | -10% |
| Axis Bank | 2.77 crore | 2.51 crore | -9% |
| Wipro | 73.61 lakh | 69.86 lakh | -5% |
Source: ICICI Prudential Mutual Fund
ICICI Prudential Large Cap Fund has delivered an annualised return of 13.75% over the past three years, outperforming the BSE 100 TRI’s return of 10.70%. Over the past one year, the fund has declined 1.38%, compared with a 1.88% decline in the benchmark.
