Mahindra Manulife Value Fund

Mahindra Manulife Mutual FundEquityPortfolio as of 30 June 2026

Mahindra Manulife Value Fund holds 75 instruments (95.63% equity), led by ICICI Bank Limited (5.01%), JSW Energy Limited (2.78%) and Axis Bank Limited (2.53%), as of its 30 June 2026 SEBI-mandated monthly disclosure.

Holdings

Equity Allocation

95.63%

AMC

Mahindra Manulife Mutual Fund

Portfolio Analysis

Mahindra Manulife Value Fund's top 10 holdings account for 26.61% of its portfolio, more diversified than the Equity category average of 37.5%. Financial Services is its largest sector exposure at 25.27% of net assets, spread across 12 sectors in total. Since its 31 May 2026 disclosure, the fund added 3 new positions and exited 6 positions, with Punjab National Bank seeing the largest move (+1.24pp to 2.26%).

Top 10 Equity Holdings

ICICI Bank Limited · 5.01%JSW Energy Limited · 2.78%Axis Bank Limited · 2.53%Reliance Industries Limited · 2.46%Tube Investments of India Limited · 2.44%IndusInd Bank Limited · 2.34%Shriram Finance Limited · 2.3%HDFC Bank Limited · 2.27%Punjab National Bank · 2.26%Indus Towers Limited · 2.22%

What Changed: May 2026 → June 2026

Equity holdings compared between the fund's two latest monthly disclosures. Weights are % to NAV; weight moves can also reflect price changes, not only buying or selling.

3 new entries6 exits10 increased10 reduced

New Entries

Axis Bank Limited · 2.53%Anthem Biosciences Limited · 0.66%RBL Bank Limited · 0.62%

Complete Exits

Oil India Limited · was 1.49%Tata Motors Limited · was 0.91%Hindustan Unilever Limited · was 0.91%Equitas Small Finance Bank Limited · was 0.86%Whirlpool of India Limited · was 0.59%Steel Authority of India Limited · was 0.53%

Biggest Weight Increases

Stock	Weight	Change
Punjab National Bank	1.02% → 2.26%	▲ +1.24
ICICI Bank Limited	3.93% → 5.01%	▲ +1.08
Vedanta Aluminium Metal Limited	0.17% → 0.6%	▲ +0.43
Adani Enterprises Limited	1.31% → 1.67%	▲ +0.36
NHPC Limited	0.76% → 1.09%	▲ +0.33
NMDC Limited	1.27% → 1.49%	▲ +0.22
Shriram Pistons & Rings Limited	1.28% → 1.47%	▲ +0.19
Gokaldas Exports Limited	0.84% → 0.99%	▲ +0.15
K.P.R. Mill Limited	1.05% → 1.19%	▲ +0.14
Kirloskar Brothers Limited	0.77% → 0.9%	▲ +0.13

Biggest Weight Reductions

Stock	Weight	Change
Vodafone Idea Limited	2.59% → 2%	▼ -0.59
Indus Towers Limited	2.69% → 2.22%	▼ -0.47
Infosys Limited	1.97% → 1.58%	▼ -0.39
Bajaj Auto Limited	2.52% → 2.18%	▼ -0.34
Tube Investments of India Limited	2.72% → 2.44%	▼ -0.28
JSW Energy Limited	3.04% → 2.78%	▼ -0.26
Reliance Industries Limited	2.7% → 2.46%	▼ -0.24
Tata Consultancy Services Limited	1.49% → 1.25%	▼ -0.24
Ambuja Cements Limited	1.93% → 1.69%	▼ -0.24
Bandhan Bank Limited	2.42% → 2.21%	▼ -0.21

Top Holdings — Weight Trend

% to NAV of the fund's current top holdings over its last 6 monthly disclosures (Jan – Jun 2026).

ICICI Bank Limited

5.01%

JSW Energy Limited

2.78%

Axis Bank Limited

2.53%

Reliance Industries Limited

2.46%

Tube Investments of India Limited

2.44%

Full Portfolio (75 holdings)

#	Holding	Sector	% to NAV
1	ICICI Bank Limited	Financial Services	5.01%
2	Triparty Repotreps	—	3.57%
3	JSW Energy Limited	Utilities	2.78%
4	Axis Bank Limited	Financial Services	2.53%
5	Reliance Industries Limited	Energy	2.46%
6	Tube Investments of India Limited	Consumer Discretionary	2.44%
7	IndusInd Bank Limited	Financial Services	2.34%
8	Shriram Finance Limited	Financial Services	2.3%
9	HDFC Bank Limited	Financial Services	2.27%
10	Punjab National Bank	Financial Services	2.26%
11	Indus Towers Limited	Telecommunication	2.22%
12	Bandhan Bank Limited	Financial Services	2.21%
13	Bajaj Auto Limited	Consumer Discretionary	2.18%
14	Vodafone Idea Limited	Telecommunication	2%
15	Jindal Saw Limited	Industrials	1.95%
16	Grasim Industries Limited	Materials	1.89%
17	Ambuja Cements Limited	Materials	1.69%
18	Adani Enterprises Limited	Materials	1.67%
19	IDFC First Bank Limited	Financial Services	1.65%
20	Infosys Limited	Information Technology	1.58%
21	Carborundum Universal Limited	Industrials	1.56%
22	Biocon Limited	Healthcare	1.55%
23	Tech Mahindra Limited	Information Technology	1.5%
24	NMDC Limited	Materials	1.49%
25	Shriram Pistons & Rings Limited	Consumer Discretionary	1.47%
26	REC Limited	Financial Services	1.4%
27	Voltamp Transformers Limited	Industrials	1.4%
28	The Ramco Cements Limited	Materials	1.4%
29	The Federal Bank Limited	Financial Services	1.33%
30	Mahindra Logistics Limited	Services	1.33%
31	Sun Pharmaceutical Industries Limited	Healthcare	1.31%
32	Alkem Laboratories Limited	Healthcare	1.3%
33	CEAT Limited	Consumer Discretionary	1.25%
34	Tata Consultancy Services Limited	Information Technology	1.25%
35	Zydus Lifesciences Limited	Healthcare	1.24%
36	Aurobindo Pharma Limited	Healthcare	1.2%
37	K.P.R. Mill Limited	Consumer Discretionary	1.19%
38	Cipla Limited	Healthcare	1.1%
39	Kajaria Ceramics Limited	Consumer Discretionary	1.09%
40	NHPC Limited	Utilities	1.09%
41	Bharat Petroleum Corporation Limited	Energy	1.02%
42	Engineers India Limited	Industrials	1.01%
43	Maruti Suzuki India Limited	Consumer Discretionary	1%
44	Gokaldas Exports Limited	Consumer Discretionary	0.99%
45	Coforge Limited	Information Technology	0.99%
46	Rolex Rings Limited	Consumer Discretionary	0.98%
47	Coal India Limited	Energy	0.98%
48	GAIL (India) Limited	Utilities	0.97%
49	CESC Limited	Utilities	0.95%
50	Petronet LNG Limited	Utilities	0.94%
51	Tata Steel Limited	Materials	0.94%
52	Balrampur Chini Mills Limited	Consumer Staples	0.93%
53	HCL Technologies Limited	Information Technology	0.93%
54	Glenmark Pharmaceuticals Limited	Healthcare	0.91%
55	Kirloskar Brothers Limited	Industrials	0.9%
56	Mazagon Dock Shipbuilders Limited	Industrials	0.9%
57	Hindustan Petroleum Corporation Limited	Energy	0.88%
58	Asahi India Glass Limited	Consumer Discretionary	0.86%
59	Gujarat Industries Power Company Limited	Utilities	0.83%
60	NBCC (India) Limited	Industrials	0.82%
61	LMW Limited	Industrials	0.81%
62	Container Corporation of India Limited	Services	0.8%
63	Elecon Engineering Company Limited	Industrials	0.8%
64	Net Receivables / (Payables)other	—	0.78%
65	Ujjivan Small Finance Bank Limited	Financial Services	0.69%
66	Anthem Biosciences Limited	Healthcare	0.66%
67	Jio Financial Services Limited	Financial Services	0.66%
68	Sun TV Network Limited	Consumer Discretionary	0.65%
69	RBL Bank Limited	Financial Services	0.62%
70	Vedanta Aluminium Metal Limited	Diversified	0.6%
71	Aditya Birla Fashion and Retail Limited	Consumer Discretionary	0.59%
72	Vedanta Power Limited	Diversified	0.05%
73	Vedanta Iron and Steel Limited	Diversified	0.05%
74	Vedanta Oil and Gas Limited	Diversified	0.04%
75	Margin placed with CCIL & ARCLother	—	0.02%

Frequently Asked Questions

Yes. As of its 30 June 2026 disclosure, ICICI Bank Limited is 5.01% of Mahindra Manulife Value Fund's net assets — its number 1 holding.

Yes. As of its 30 June 2026 disclosure, JSW Energy Limited is 2.78% of Mahindra Manulife Value Fund's net assets — its number 2 holding.

Yes. As of its 30 June 2026 disclosure, Axis Bank Limited is 2.53% of Mahindra Manulife Value Fund's net assets — its number 3 holding.

Yes. As of its 30 June 2026 disclosure, Reliance Industries Limited is 2.46% of Mahindra Manulife Value Fund's net assets — its number 4 holding.

Yes. As of its 30 June 2026 disclosure, Tube Investments of India Limited is 2.44% of Mahindra Manulife Value Fund's net assets — its number 5 holding.

New to reading these? See How to Read a Mutual Fund's Monthly Portfolio Disclosure, or check terms like % to NAV in the glossary.

Source: Mahindra Manulife Mutual Fund's SEBI-mandated monthly portfolio disclosure, dated 30 June 2026. Data is for information only, not investment advice. Holdings may have changed since the disclosure date.