JM ELSS Tax Saver Fund
JM Financial Mutual Fund·ELSS - Tax Saver Fund·vs Nifty 500 TRI
The fund maintains a balanced yet conviction-driven approach with nearly 55% concentrated in financials and banks, betting on India's credit growth and financial deepening. Recent portfolio tweaks—adding quality industrials like Bosch and Hindalco while trimming cyclical miners and cement—suggest the manager is rotating toward secular growth and defensive quality, away from commodity-linked volatility. The substantial increase in Adani Power signals confidence in the energy transition narrative despite broader market concerns.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Primary | ₹47.0456 | +3.34% | -1.67% | -6.94% | +1.72% | +16.87% | +15.34% |
Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.
Portfolio Metrics(latest month)
Holdings
52
Top 5 Weight
15.29%
Top 10 Weight
28.07%
Active Share
—
Large Cap
42.51%
Gini
0.180
What Changed2026-03-31 → 2026-04-30
Holdings: 53 → 54+5 added−4 removed32 weight shifts ≥ 0.1%
| Stock | Weight |
|---|---|
| Navin Fluorine International Limited | 1.49% |
| Hindalco Industries Limited | 1.42% |
| Bosch Limited | 1.39% |
| INDIA CEMENTS LTD | 1.36% |
| Shriram Finance Limited | 1.32% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Reliance Industries Limited INE002A01018 | 3.48% |
| 2 | HDFC Bank Limited INE040A01034 | 3.45% |
| 3 | Bharti Airtel Limited INE397D01024 | 2.83% |
| 4 | ICICI Bank Limited INE090A01021 | 2.79% |
| 5 | Larsen & Toubro Limited INE018A01030 | 2.73% |
| 6 | Karur Vysya Bank Limited INE036D01028 | 2.66% |
| 7 | Lupin Limited INE326A01037 | 2.62% |
| 8 | SYRMA SGS TECHNOLOGY LIMITED INE0DYJ01015 | 2.60% |
| 9 | Adani Power Limited INE814H01029 | 2.52% |
| 10 | Travel Food Services Limited INE103V01028 | 2.39% |
| 11 | Max Healthcare Institute Limited INE027H01010 | 2.26% |
| 12 | United Spirits Limited INE854D01024 | 2.24% |
| 13 | Jindal Steel Limited INE749A01030 | 2.23% |
| 14 | One Source Specialty Pharma Ltd INE013P01021 | 2.20% |
| 15 | Maruti Suzuki India Limited INE585B01010 | 2.19% |
| 16 | Bajaj Auto Limited INE917I01010 | 2.18% |
| 17 | Polycab India Limited INE455K01017 | 2.18% |
| 18 | WeWork India Management Limited INE085001019 | 2.08% |
| 19 | BSE Ltd INE118H01025 | 2.07% |
| 20 | Sanathan Textiles Ltd. INE0JPD01013 | 1.99% |
Sector Allocation
Banks12.8%
Finance10.8%
IT - Software5.8%
Automobiles5.8%
Pharmaceuticals & Biotechnology4.8%
Construction4.5%
Leisure Services4.3%
Industrial Manufacturing3.8%
Capital Markets3.7%
Petroleum Products3.5%
Top 10 sectors by % to NAV. Excludes derivatives.