Motilal Oswal Manufacturing Fund
The fund has dramatically repositioned toward classic manufacturing and industrial cyclicals, exiting defensive plays like autos and FMCG stalwarts in favor of engineering, metals, and specialty chemicals. The sharp reduction in Reliance and overweight to mid-cap industrials signals the manager expects a capital-expenditure-driven cycle and domestic manufacturing momentum. With nearly half the portfolio concentrated in the top ten holdings and a lean cash buffer, conviction appears high but downside protection remains limited if growth narratives disappoint.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹11.3929 | — | — | — | — | — | — |
| Direct IDCW | ₹11.3922 | — | — | — | — | — | — |
| Regular IDCW | ₹11.1101 | +7.18% | +2.92% | -4.00% | +4.32% | — | — |
Portfolio Metrics(latest month)
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| TRP_040526 | 3.38% |
| Ashok Leyland Ltd | 4.61% |
| Hindalco Industries Ltd | 5.04% |
| Hindustan Zinc Ltd | 3.89% |
| Navin Fluorine International Ltd | 4.57% |
| Vedanta Ltd | 1.18% |
| Suzlon Energy Ltd | 2.65% |
| Talwandi Sabo Power Limited | 0.53% |
| TD Power Systems Ltd | 2.86% |
| Vedanta Aluminium Metal Limited | 0.53% |
| Malco Energy Limited | 0.53% |
| Vedanta Iron And Steel Limited | 0.53% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | ABB India Ltd INE117A01022 | 5.55% |
| 2 | Hindalco Industries Ltd INE038A01020 | 5.04% |
| 3 | Lupin Ltd INE326A01037 | 4.65% |
| 4 | Ashok Leyland Ltd INE208A01029 | 4.61% |
| 5 | Navin Fluorine International Ltd INE048G01026 | 4.57% |
| 6 | Azad Engineering Ltd INE02IJ01035 | 4.48% |
| 7 | Shaily Engineering Plastics Limited INE151G01028 | 4.16% |
| 8 | Sun Pharmaceutical Industries Limited INE044A01036 | 4.15% |
| 9 | Samvardhana Motherson International Ltd INE775A01035 | 4.06% |
| 10 | Hindustan Zinc Ltd INE267A01025 | 3.89% |
| 11 | Hitachi Energy India Limited INE07Y701011 | 3.46% |
| 12 | TRP_040526 CBLO | 3.38% |
| 13 | Gabriel India Limited INE524A01029 | 3.20% |
| 14 | Ather Energy Limited INE0LEZ01016 | 3.07% |
| 15 | UNO Minda Ltd INE405E01023 | 2.98% |
| 16 | Jindal Steel Ltd INE749A01030 | 2.97% |
| 17 | Bajaj Auto Ltd INE917I01010 | 2.95% |
| 18 | TD Power Systems Ltd INE419M01027 | 2.86% |
| 19 | Waaree Energies Limited INE377N01017 | 2.86% |
| 20 | TVS Motor Company Ltd INE494B01023 | 2.81% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.