List of stocks most held by mutual funds in 2023, ranging from Infosys to TCS

The recent few months have witnessed a surge in the shares of TCS and Infosys, which helped the Sensex reach its record high in December 2023. But both of these companies are also among the Dalal Street equities that mutual funds possess the most of.

The top two equities that mutual funds hold the most of are ICICI Bank and Tata Consultancy Services (TCS). Forty fund houses for each of these firms hold their blue-chip stocks under different schemes.

But Infosys, TCS’s primary competitor, isn’t far behind, taking the second position on the list. According to data gathered from Emkay, Infosys and Maruti Suzuki tied for second place with 39 asset management organizations (AMCs) holding their shares.

With 38 AMCs holding shares in each, HDFC Bank and Reliance Industries Ltd. are tied for third place on the list. One of the few companies to see growth after the sharp decline in the Sensex on December 20 was HDFC.

Titan, a company owned by Tata, was the top stock in terms of consumption stocks. ITC and Hindustan Unilever grabbed the second and third places in the FMCG sector for the stocks most held by mutual funds.

When it comes to the pharmaceutical industry, AMCs recommended investing in Sun Pharma, while NBFCs favored Bajaj Finance. On the list, midcap IT companies Persistent Systems, LTIMindtree, Mphasis, and Coforge all performed quite well.

List of equities that AMCs own the most of in 2023
ICICI Bank, TCS – 40 AMCs
39 AMCs: Infosys, Maruti Suzuki
HDFC Bank, RIL: 38 AMCs
37 AMCs: SBI, Titan, Axis Bank, M&M, and NTPC
36 AMCs: HCL Tech, ITC, and L&T
35 AMCs: Sun Pharma, Tech Mahindra, Bajaj Finance, UltraTech, HUL
Despite the sharp rise and fall of many IT equities in the last year, TCS has consistently been a favorite of AMCs throughout history. Even though the US and EU account for around 70% of TCS’s total revenue, the company is nevertheless susceptible to their declining markets despite its history of strong performance.