JM Large & Mid Cap Fund
The fund maintains a distinctly financial-sector bias, with banks, capital markets, and finance collectively representing nearly 23 percent of the portfolio—a meaningful overweight relative to typical large-midcap benchmarks. The manager's April reshuffle signals tactical rebalancing rather than conviction shifts, replacing cyclical bets like real estate and autos with defensive positioning in telecom infrastructure and hospitality while trimming commodity exposure. With 61 holdings and moderate top-10 concentration at 27.3 percent, the fund pursues a quality-biased approach within the large-midcap space, suitable for growth-oriented investors comfortable with financial sector leverage during economic expansion cycles.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Primary | ₹9.9514 | +0.35% | — | — | — |
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 |
|---|---|
| Hindustan Zinc Limited | 1.66% |
| Indus Towers Limited | 0.98% |
| Vishal Mega Mart Limited | 0.96% |
| The Indian Hotels Company Limited | 0.96% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Reliance Industries Limited INE002A01018 | 3.55% |
| 2 | ICICI Bank Limited INE090A01021 | 3.35% |
| 3 | HDFC Bank Limited INE040A01034 | 3.09% |
| 4 | Bharti Airtel Limited INE397D01024 | 2.75% |
| 5 | Fortis Healthcare Limited INE061F01013 | 2.64% |
| 6 | Bajaj Finance Limited INE296A01032 | 2.62% |
| 7 | LG Electronics India Limited INE324D01010 | 2.60% |
| 8 | Shriram Finance Limited INE721A01047 | 2.30% |
| 9 | Max Financial Services Limited INE180A01020 | 2.23% |
| 10 | BSE Ltd INE118H01025 | 2.16% |
| 11 | State Bank of India INE062A01020 | 2.09% |
| 12 | JSW Energy Limited INE121E01018 | 2.06% |
| 13 | Torrent Pharmaceuticals Limited INE685A01028 | 2.06% |
| 14 | PERSISTENT SYSTEMS LTD INE262H01021 | 2.04% |
| 15 | Jindal Steel Limited INE749A01030 | 2.04% |
| 16 | One 97 Communications Limited INE982J01020 | 2.02% |
| 17 | IDFC First Bank Limited INE092T01019 | 1.98% |
| 18 | Marico Limited INE196A01026 | 1.94% |
| 19 | CCIL nan | 1.87% |
| 20 | Mahindra & Mahindra Limited INE101A01026 | 1.80% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does JM Large & Mid Cap Fund hold?
JM Large & Mid Cap Fund holds 59 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 15.37% of NAV.
What is the largest holding in JM Large & Mid Cap Fund?
The largest position in JM Large & Mid Cap Fund is Reliance Industries Limited, accounting for 3.55% of NAV in the Petroleum Products sector.
Is JM Large & Mid Cap Fund a concentrated or diversified fund?
With a Gini coefficient of 0.205, JM Large & Mid Cap Fund is well-diversified. The HHI concentration index is 18,351 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 15.37% of the portfolio.
What is the market cap allocation of JM Large & Mid Cap Fund?
Based on SEBI's AMFI classification, JM Large & Mid Cap Fund's equity portfolio is split as: Large Cap: 49.66%, Mid Cap: 43.65%, Small Cap: 4.05%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does JM Large & Mid Cap Fund invest in most?
JM Large & Mid Cap Fund has the highest allocation to Banks (10.51%), Capital Markets (6.36%), Finance (6.29%). The fund is invested across 33 sectors in total.
How actively managed is JM Large & Mid Cap Fund compared to other Large & Mid Cap Fund funds?
JM Large & Mid Cap Fund has an Active Share of 60.65%, classifying it as "Active Stock Picker" among 33 Large & Mid Cap Fund peers. This indicates a moderate level of differentiation from category peers.
What changed in JM Large & Mid Cap Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, JM Large & Mid Cap Fund added 4 new stocks (including Hindustan Zinc Limited) and exited 4 stocks (including Vedanta Limited). Total holding count remained at 61 stocks.