Mahindra Manulife Large & Mid Cap Fund
Mahindra Manulife Mutual Fund·Large & Mid Cap Fund·vs Nifty LargeMidcap 250 TRI
The fund maintains a defensive banking-heavy tilt at 20% with balanced pharmaceutical and IT exposure, positioning for steady dividend flows in uncertain markets. Recent portfolio churn—swapping cyclicals like JSW Steel for infrastructure and fintech plays—signals the manager is rotating toward quality compounders while trimming commodity and IT concentration. The modest cash buffer and 68-stock spread suggest conviction in selective stock-picking over broad market bets.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹28.9803 | — | — | — | — | — | — |
| Regular Growth | ₹25.9900 | +0.77% | -3.72% | -5.94% | +0.21% | +14.75% | +14.14% |
| Direct IDCW | ₹20.9916 | — | — | — | — | — | — |
| Regular IDCW | ₹18.2969 | — | — | — | — | — | — |
Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.
Portfolio Metrics(latest month)
Holdings
66
Top 5 Weight
15.25%
Top 10 Weight
27.20%
Active Share
—
Large Cap
46.61%
Gini
0.246
What Changed2026-03-31 → 2026-04-30
Holdings: 67 → 68+6 added−5 removed33 weight shifts ≥ 0.1%
| Stock | Weight |
|---|---|
| Jindal Steel Limited | 2.13% |
| Aditya Birla Capital Limited | 1.36% |
| Delhivery Limited | 1.25% |
| Black Buck Ltd | 0.89% |
| PB Fintech Limited | 0.79% |
| L&T Finance Limited | 0.77% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | ICICI Bank Limited INE090A01021 | 3.57% |
| 2 | State Bank of India INE062A01020 | 3.05% |
| 3 | HDFC Bank Limited INE040A01034 | 3.04% |
| 4 | Triparty Repo nan | 2.90% |
| 5 | Glenmark Pharmaceuticals Limited INE935A01035 | 2.85% |
| 6 | Reliance Industries Limited INE002A01018 | 2.74% |
| 7 | IndusInd Bank Limited INE095A01012 | 2.65% |
| 8 | The Federal Bank Limited INE171A01029 | 2.55% |
| 9 | Indus Towers Limited INE121J01017 | 2.47% |
| 10 | Eternal Limited INE758T01015 | 2.15% |
| 11 | Jindal Steel Limited INE749A01030 | 2.13% |
| 12 | Divi's Laboratories Limited INE361B01024 | 2.10% |
| 13 | Axis Bank Limited INE238A01034 | 2.08% |
| 14 | UltraTech Cement Limited INE481G01011 | 2.02% |
| 15 | Bharat Heavy Electricals Limited INE257A01026 | 1.97% |
| 16 | Larsen & Toubro Limited INE018A01030 | 1.87% |
| 17 | IDFC First Bank Limited INE092T01019 | 1.84% |
| 18 | Senores Pharmaceuticals Limited INE0RB801010 | 1.81% |
| 19 | JSW Energy Limited INE121E01018 | 1.77% |
| 20 | Mahindra & Mahindra Limited INE101A01026 | 1.68% |
Sector Allocation
Banks20.2%
Pharmaceuticals & Biotechnology10.6%
Finance6.1%
IT - Software5.7%
Automobiles4.5%
Telecom - Services3.9%
nan3.9%
Retailing3.8%
Auto Components3.3%
Capital Markets3.2%
Top 10 sectors by % to NAV. Excludes derivatives.