JM Large Cap Fund
The fund maintains a defensive, financials-heavy positioning with banks and finance accounting for over 25 percent of the portfolio, reflecting conviction in India's domestic consumption and credit growth narrative. The addition of Avenue Supermarts and exit from commodities-linked Vedanta signal a shift away from cyclical volatility towards consumer resilience and operational consistency. With top-ten holdings representing 38 percent of assets, the manager is betting on quality blue-chips to weather potential market headwinds while keeping minimal cash reserves.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Primary | ₹147.3791 | -1.39% | -1.99% | +12.65% | +12.21% |
Portfolio Metrics(latest month)
vs Category Peers
Balanced ApproachActive 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 |
|---|---|
| Cummins India Limited | 1.25% |
| Avenue Supermarts Limited | 0.95% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | HDFC Bank Limited INE040A01034 | 6.47% |
| 2 | Reliance Industries Limited INE002A01018 | 6.13% |
| 3 | State Bank of India INE062A01020 | 4.28% |
| 4 | Bharti Airtel Limited INE397D01024 | 3.98% |
| 5 | ICICI Bank Limited INE090A01021 | 3.89% |
| 6 | Larsen & Toubro Limited INE018A01030 | 3.31% |
| 7 | Shriram Finance Limited INE721A01047 | 2.66% |
| 8 | Apollo Hospitals Enterprise Limited INE437A01024 | 2.54% |
| 9 | Axis Bank Limited INE238A01034 | 2.52% |
| 10 | Torrent Pharmaceuticals Limited INE685A01028 | 2.51% |
| 11 | Bajaj Finance Limited INE296A01032 | 2.50% |
| 12 | Infosys Limited INE009A01021 | 2.46% |
| 13 | Kotak Mahindra Bank Limited INE237A01036 | 2.44% |
| 14 | Adani Port & Special Economic Zone Ltd INE742F01042 | 2.43% |
| 15 | Mahindra & Mahindra Limited INE101A01026 | 2.19% |
| 16 | Tech Mahindra Limited INE669C01036 | 2.17% |
| 17 | Hindalco Industries Limited INE038A01020 | 2.08% |
| 18 | JSW Energy Limited INE121E01018 | 2.00% |
| 19 | Divi's Laboratories Limited INE361B01024 | 1.86% |
| 20 | UltraTech Cement Limited INE481G01011 | 1.84% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does JM Large Cap Fund hold?
JM Large Cap Fund holds 47 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 24.76% of NAV.
What is the largest holding in JM Large Cap Fund?
The largest position in JM Large Cap Fund is HDFC Bank Limited, accounting for 6.47% of NAV in the Banks sector.
Is JM Large Cap Fund a concentrated or diversified fund?
With a Gini coefficient of 0.279, JM Large Cap Fund is well-diversified. The HHI concentration index is 26,836 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 24.76% of the portfolio.
What is the market cap allocation of JM Large Cap Fund?
Based on SEBI's AMFI classification, JM Large Cap Fund's equity portfolio is split as: Large Cap: 85.51%, Mid Cap: 9.06%, Small Cap: 0.10%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does JM Large Cap Fund invest in most?
JM Large Cap Fund has the highest allocation to Banks (19.61%), Automobiles (7.05%), Finance (6.19%). The fund is invested across 30 sectors in total.
How actively managed is JM Large Cap Fund compared to other Large Cap Fund funds?
JM Large Cap Fund has an Active Share of 38.54%, classifying it as "Balanced Approach" among 33 Large Cap Fund peers. This indicates a moderate level of differentiation from category peers.
What changed in JM Large Cap Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, JM Large Cap Fund added 2 new stocks (including Cummins India Limited) and exited 3 stocks (including Union Bank of India). Total holding count decreased from 50 to 49 stocks.