What are the top 5 no-load mutual funds to invest in.?

Whichever type you choose, go with Vanguard. Their expenses are the lowest!

I like Vanguard as well. They have an excellent fund screener. However low expenses do not always equal best results. Screen for the funds until you find what you want.

I especially like the long term performance of the Vanguard Specialized Health Care Fund. The manager is one of the best! I also use the Total Stock Market Index from Vanguard.

Your approach is good but can be very wrong. The top two indicators of succesful investing are;
A. The correct "asset allocation"
b. Low expenses

Choose an asset allocation that's appropriate for you. Pick funds with low expenses & good track records. Over the years, re-allocate as the asset allocation changes. KEEP IN MIND: Always compare Mutual Funds against their peers. If you own a Large Cap Fund and compare it to a Small Cap Fund, you're doing yourself a dis-service. Do not chase performance. If you like a fund and it's in the to 70% of its peers... you're doing well. Don't dump a fund if it's below its peers for a year. Find out why its down. No fund can perform "up" every year.

Index funds beat "managed" funds 80% of the time (over long periods). And: READ READ READ - UNDERSTAND WHAT YOU ARE INVESTING IN AND WHY.... Other wise you're doomed.