Mahindra Manulife ELSS Tax Saver Fund
The fund maintains a concentrated large-cap bias with banking stocks forming its defensive anchor at nearly 24 percent exposure. Recent portfolio churn—exiting cement and paint plays while adding auto and aviation names—suggests the manager is rotating away from cyclical slowdown beneficiaries toward growth-oriented consumption and mobility themes. The modest cash build alongside strategic exits signals tactical prudence rather than market pessimism, positioning the portfolio for selective opportunities within its core quality-focused framework.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Direct Growth | ₹31.6181 | — | — | — | — |
| Regular Growth | ₹26.6220 | -2.21% | -5.82% | +10.47% | +12.13% |
| Direct IDCW | ₹19.9075 | — | — | — | — |
| Regular IDCW | ₹15.7638 | — | — | — | — |
Portfolio Metrics(latest month)
vs Category Peers
Active Stock PickerActive Share = ½Σ|wfund − wpeer|, computed using leave-one-out peer portfolio within SEBI category.
Similar Funds in Category
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| Nestle India Limited | 0.97% |
| Eicher Motors Limited | 0.96% |
| Tata Motors Passenger Vehicles Limited | 0.77% |
| InterGlobe Aviation Limited | 0.73% |
| Jubilant Ingrevia Limited | 0.40% |
| Grindwell Norton Limited | 0.32% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | ICICI Bank Limited INE090A01021 | 8.66% |
| 2 | HDFC Bank Limited INE040A01034 | 6.84% |
| 3 | Bharti Airtel Limited INE397D01024 | 3.61% |
| 4 | Reliance Industries Limited INE002A01018 | 3.50% |
| 5 | Infosys Limited INE009A01021 | 3.37% |
| 6 | Bajaj Finance Ltd INE296A01032 | 3.25% |
| 7 | Larsen & Toubro Limited INE018A01030 | 2.94% |
| 8 | Triparty Repo nan | 2.90% |
| 9 | Tata Consultancy Services Limited INE467B01029 | 2.51% |
| 10 | Hindustan Unilever Limited INE030A01027 | 2.36% |
| 11 | Avenue Supermarts Limited INE192R01011 | 2.32% |
| 12 | Axis Bank Limited INE238A01034 | 2.16% |
| 13 | Tata Power Company Limited INE245A01021 | 1.96% |
| 14 | State Bank of India INE062A01020 | 1.92% |
| 15 | TVS Motor Company Limited INE494B01023 | 1.84% |
| 16 | UNO Minda Limited INE405E01023 | 1.83% |
| 17 | IndusInd Bank Limited INE095A01012 | 1.79% |
| 18 | Tata Steel Limited INE081A01020 | 1.78% |
| 19 | Oil & Natural Gas Corporation Limited INE213A01029 | 1.69% |
| 20 | Titan Company Limited INE280A01028 | 1.69% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does Mahindra Manulife ELSS Tax Saver Fund hold?
Mahindra Manulife ELSS Tax Saver Fund holds 61 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 25.98% of NAV.
What is the largest holding in Mahindra Manulife ELSS Tax Saver Fund?
The largest position in Mahindra Manulife ELSS Tax Saver Fund is ICICI Bank Limited, accounting for 8.66% of NAV in the Banks sector.
Is Mahindra Manulife ELSS Tax Saver Fund a concentrated or diversified fund?
With a Gini coefficient of 0.384, Mahindra Manulife ELSS Tax Saver Fund is well-diversified. The HHI concentration index is 27,216 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 25.98% of the portfolio.
What is the market cap allocation of Mahindra Manulife ELSS Tax Saver Fund?
Based on SEBI's AMFI classification, Mahindra Manulife ELSS Tax Saver Fund's equity portfolio is split as: Large Cap: 72.80%, Mid Cap: 15.32%, Small Cap: 7.26%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does Mahindra Manulife ELSS Tax Saver Fund invest in most?
Mahindra Manulife ELSS Tax Saver Fund has the highest allocation to Banks (23.61%), IT - Software (8.42%), Retailing (7.12%). The fund is invested across 26 sectors in total.
How actively managed is Mahindra Manulife ELSS Tax Saver Fund compared to other ELSS - Tax Saver Fund funds?
Mahindra Manulife ELSS Tax Saver Fund has an Active Share of 54.08%, classifying it as "Active Stock Picker" among 37 ELSS - Tax Saver Fund peers. This indicates a moderate level of differentiation from category peers.
What changed in Mahindra Manulife ELSS Tax Saver Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, Mahindra Manulife ELSS Tax Saver Fund added 6 new stocks (including Nestle India Limited) and exited 7 stocks (including UltraTech Cement Limited). Total holding count remained at 63 stocks.