Mahindra Manulife ELSS Tax Saver Fund
Mahindra Manulife Mutual Fund·ELSS - Tax Saver Fund·vs Nifty 500 TRI
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 | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹31.3407 | — | — | — | — | — | — |
| Regular Growth | ₹26.3895 | -1.58% | -7.98% | -9.77% | -5.13% | +10.38% | +11.93% |
| Direct IDCW | ₹19.7328 | — | — | — | — | — | — |
| Regular IDCW | ₹15.6261 | — | — | — | — | — | — |
Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.
Portfolio Metrics(latest month)
Holdings
61
Top 5 Weight
25.98%
Top 10 Weight
39.36%
Active Share
—
Large Cap
72.80%
Gini
0.384
What Changed2026-03-31 → 2026-04-30
Holdings: 63 → 63+6 added−7 removed28 weight shifts ≥ 0.1%
| 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
Banks23.6%
IT - Software8.4%
Retailing7.1%
Pharmaceuticals & Biotechnology6.2%
Consumer Durables6.0%
Finance5.3%
Automobiles5.2%
Telecom - Services5.0%
Power3.6%
Petroleum Products3.5%
Top 10 sectors by % to NAV. Excludes derivatives.