JM Midcap Fund
JM Financial Mutual Fund·Mid Cap Fund·vs Nifty Midcap 150 TRI
The fund is positioned for quality midcap exposure with a balanced but slightly defensive tilt, favoring stable dividend payers like FMCG, pharma, and financials over high-growth segments. The manager added cyclical infrastructure and materials plays while trimming a high-flying pharma stock, suggesting conviction in valuation-driven picks over momentum-driven bets. The minimal cash holding and measured top-10 concentration indicate confidence in core holdings rather than tactical repositioning.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Regular Growth | ₹19.4836 | +7.45% | +5.23% | +0.20% | +6.69% | +23.46% | — |
Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.
Portfolio Metrics(latest month)
Holdings
63
Top 5 Weight
16.64%
Top 10 Weight
30.25%
Active Share
—
Large Cap
4.71%
Gini
0.288
What Changed2026-03-31 → 2026-04-30
Holdings: 62 → 65+4 added−1 removed42 weight shifts ≥ 0.1%
| Stock | Weight |
|---|---|
| APAR INDUSTRIES LTD | 0.72% |
| National Aluminium Company Limited | 0.62% |
| Multi Commodity Exchange of India Ltd. | 0.51% |
| Thermax Limited | 0.50% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Godfrey Phillips India Limited INE260B01028 | 3.72% |
| 2 | Bharat Forge Limited INE465A01025 | 3.56% |
| 3 | TUBE INVESTMENTS OF INDIA LTD INE974X01010 | 3.30% |
| 4 | Marico Limited INE196A01026 | 3.04% |
| 5 | Glenmark Pharmaceuticals Limited INE935A01035 | 3.03% |
| 6 | JK Cement Limited INE823G01014 | 2.84% |
| 7 | Bank of Maharashtra INE457A01014 | 2.81% |
| 8 | Indian Bank INE562A01011 | 2.71% |
| 9 | BSE Ltd INE118H01025 | 2.66% |
| 10 | Cummins India Limited INE298A01020 | 2.58% |
| 11 | Acutaas Chemicals Limited INE00FF01025 | 2.46% |
| 12 | Jindal Steel Limited INE749A01030 | 2.44% |
| 13 | AVALON TECHNOLOGIES LIMITED INE0LCL01028 | 2.35% |
| 14 | Arvind Limited INE034A01011 | 2.31% |
| 15 | Hero MotoCorp Limited INE158A01026 | 2.13% |
| 16 | SRF Limited INE647A01010 | 2.13% |
| 17 | Coforge Limited INE591G01025 | 1.96% |
| 18 | Poonawalla Fincorp Limited INE511C01022 | 1.95% |
| 19 | IDFC First Bank Limited INE092T01019 | 1.89% |
| 20 | Motilal Oswal Financial Services INE338I01027 | 1.81% |
Sector Allocation
Pharmaceuticals & Biotechnology12.3%
Banks10.3%
Electrical Equipment8.0%
Auto Components7.7%
Capital Markets7.6%
Industrial Products5.0%
IT - Software4.2%
Cigarettes & Tobacco Products3.7%
Cement & Cement Products3.6%
Finance3.4%
Top 10 sectors by % to NAV. Excludes derivatives.