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Value / Contra · Mahindra Manulife Mutual Fund · AMFI code 153302Mahindra Manulife Value Fund
Disclosed for 3 months, Jul 2026 to Sep 2026.
Portfolio value
₹1,015 Cr
down ₹14 Cr vs Aug 2026
- Stocks held
- 68
- down 1 vs Aug 2026
- Top 10 weight
- 29.0%
- of the portfolio in its ten largest
- Cash & debt
- 1.6%
- cash, money market and debt
- Moves this month
- 3 in · 4 out
- added to 10, trimmed 48
Mahindra Manulife Value Fund is an active equity fund in the Value / Contra category from Mahindra Manulife Mutual Fund. In September 2026 it disclosed 68 stocks worth ₹1,015 Cr, down ₹14 Cr from Aug 2026. Its largest positions were Reliance Industries Limited (4.1%), Axis Bank Limited (3.6%), HDFC Bank Limited (3.6%); the ten largest together made up 29.0% of the portfolio, and Banks was the biggest sector at 20.1% of its equity. Cash and debt stood at 1.6%. Compared with Aug 2026 the fund entered 3 new stocks and exited 4.
Against 26 other Value / Contra funds
Concentration
15%
Top-10 weight is higher than 15% of peers
Breadth
62%
Holds more stocks than 62% of peers
Cash
19%
Holds more cash than 19% of peers
Holdings in September 2026
Download CSVEvery line the fund disclosed, with the change against Aug 2026. Click a column to sort; click a company to see every fund that owns it.
| Reliance Industries Limited | 4.09% | up 0.62 pts | ₹41.5 Cr | up ₹5.8 Cr | Added |
| Axis Bank Limited | 3.62% | up 1.10 pts | ₹36.8 Cr | up ₹10.8 Cr | Added |
| HDFC Bank Limited | 3.62% | up 2.12 pts | ₹36.7 Cr | up ₹21.3 Cr | Added |
| ICICI Bank Limited | 3.58% | down 0.31 pts | ₹36.3 Cr | down ₹3.6 Cr | Trimmed |
| Life Insurance Corporation Of India | 2.73% | up 1.18 pts | ₹27.7 Cr | up ₹11.8 Cr | Added |
| Adani Enterprises Limited | 2.40% | up 0.07 pts | ₹24.4 Cr | up ₹37 L | Added |
| Jindal Saw Limited | 2.37% | down 0.24 pts | ₹24 Cr | down ₹2.8 Cr | Trimmed |
| Oil India Limited | 2.25% | down 0.14 pts | ₹22.9 Cr | down ₹1.8 Cr | Trimmed |
| Vodafone Idea Limited | 2.21% | down 0.20 pts | ₹22.4 Cr | down ₹2.4 Cr | Trimmed |
| Bandhan Bank Limited | 2.12% | up 0.58 pts | ₹21.5 Cr | up ₹5.7 Cr | Added |
| JSW Energy Limited | 2.07% | down 0.08 pts | ₹21 Cr | down ₹1.1 Cr | Trimmed |
| IndusInd Bank Limited | 2.01% | down 0.23 pts | ₹20.4 Cr | down ₹2.6 Cr | Trimmed |
| Ambuja Cements Limited | 1.96% | down 0.11 pts | ₹19.9 Cr | down ₹1.4 Cr | Trimmed |
| Bajaj Auto Limited | 1.93% | down 0.19 pts | ₹19.6 Cr | down ₹2.3 Cr | Trimmed |
| Steel Authority of India Limited | 1.88% | up 0.17 pts | ₹19.1 Cr | up ₹1.5 Cr | Added |
| Indus Towers Limited | 1.86% | down 0.05 pts | ₹18.9 Cr | down ₹79 L | Trimmed |
| IDFC First Bank Limited | 1.73% | down 0.07 pts | ₹17.5 Cr | down ₹97 L | Trimmed |
| Carborundum Universal Limited | 1.70% | up 0.22 pts | ₹17.3 Cr | up ₹2 Cr | Added |
| Tube Investments of India Limited | 1.69% | down 0.26 pts | ₹17.1 Cr | down ₹2.9 Cr | Trimmed |
| Glenmark Pharmaceuticals Limited | 1.65% | down 0.08 pts | ₹16.7 Cr | down ₹1 Cr | Trimmed |
| Grasim Industries Limited | 1.64% | down 0.14 pts | ₹16.6 Cr | down ₹1.7 Cr | Trimmed |
| Alkem Laboratories Limited | 1.62% | up 0.54 pts | ₹16.4 Cr | up ₹5.3 Cr | Added |
| Punjab National Bank | 1.61% | up 0.01 pts | ₹16.3 Cr | down ₹17 L | Trimmed |
| Cash, TREPS & receivables | 1.60% | down 1.27 pts | ₹16.3 Cr | down ₹13.3 Cr | Trimmed |
| Adani Energy Solutions Limited | 1.51% | down 0.10 pts | ₹15.3 Cr | down ₹1.2 Cr | Trimmed |
| Sun Pharmaceutical Industries Limited | 1.49% | down 0.12 pts | ₹15.1 Cr | down ₹1.4 Cr | Trimmed |
| Tech Mahindra Limited | 1.43% | down 0.08 pts | ₹14.5 Cr | down ₹99 L | Trimmed |
| Shriram Transport Finance Company Limited Shriram Finance Limited · history in this fund | 1.42% | down 0.16 pts | ₹14.4 Cr | down ₹1.9 Cr | Trimmed |
| HBL Engineering Limited | 1.40% | up 1.40 pts | ₹14.2 Cr | up ₹14.2 Cr | New |
| Engineers India Limited | 1.37% | up 0.10 pts | ₹13.9 Cr | up ₹84 L | Added |
| Balrampur Chini Mills Limited | 1.37% | down 0.04 pts | ₹13.9 Cr | down ₹64 L | Trimmed |
| Mahindra Logistics Limited | 1.36% | up 0.16 pts | ₹13.8 Cr | up ₹1.4 Cr | Added |
| Jio Financial Services Limited | 1.28% | down 0.13 pts | ₹13 Cr | down ₹1.5 Cr | Trimmed |
| Voltamp Transformers Limited | 1.26% | down 0.03 pts | ₹12.8 Cr | down ₹50 L | Trimmed |
| Hindustan Zinc Limited | 1.26% | down 0.05 pts | ₹12.7 Cr | down ₹66 L | Trimmed |
| Vedanta Aluminium Metal Limited | 1.22% | down 0.05 pts | ₹12.4 Cr | down ₹67 L | Trimmed |
| Biocon Limited | 1.20% | down 0.12 pts | ₹12.2 Cr | down ₹1.4 Cr | Trimmed |
| NMDC Limited | 1.18% | down 0.16 pts | ₹11.9 Cr | down ₹1.8 Cr | Trimmed |
| Zydus Lifesciences Limited | 1.14% | up 0.02 pts | ₹11.5 Cr | up ₹1 L | Held |
| Maruti Suzuki India Limited | 1.13% | down 0.13 pts | ₹11.5 Cr | down ₹1.5 Cr | Trimmed |
| Elecon Engineering Company Limited | 1.13% | up 0.14 pts | ₹11.5 Cr | up ₹1.2 Cr | Added |
| The Ramco Cements Limited | 1.12% | down 0.03 pts | ₹11.3 Cr | down ₹46 L | Trimmed |
| KEC International Limited | 1.12% | down 0.10 pts | ₹11.3 Cr | down ₹1.2 Cr | Trimmed |
| Tata Consultancy Services Limited | 1.11% | down 0.17 pts | ₹11.3 Cr | down ₹1.9 Cr | Trimmed |
| HEG Limited | 1.11% | up 0.15 pts | ₹11.3 Cr | up ₹1.4 Cr | Added |
| Shriram Pistons & Rings Limited | 1.05% | down 0.35 pts | ₹10.7 Cr | down ₹3.8 Cr | Trimmed |
| CEAT Limited | 1.02% | down 0.03 pts | ₹10.4 Cr | down ₹49 L | Trimmed |
| REC Limited | 1.02% | down 0.07 pts | ₹10.3 Cr | down ₹84 L | Trimmed |
| Infosys Limited | 0.99% | down 0.56 pts | ₹10 Cr | down ₹5.9 Cr | Trimmed |
| K.P.R. Mill Limited | 0.98% | down 0.05 pts | ₹9.9 Cr | down ₹67 L | Trimmed |
What changed, Aug 2026 to Sep 2026
New New positions (3)
- HBL Engineering Limited1.4% · ₹14.2 Cr
- HEG Graphite Ltd0.9% · ₹9.4 Cr
- HDFC Life Insurance Company Limited0.9% · ₹9.1 Cr
Exited Exited (4)
- Coforge Limitedwas 1.2% · ₹11.9 Cr
- GAIL (India) Limitedwas 0.9% · ₹8.9 Cr
- NBCC (India) Limitedwas 0.6% · ₹6 Cr
- Petronet LNG Limitedwas 0.4% · ₹4.5 Cr
Added Biggest additions
Sectors
Which sectors the fund is moving towards and away from, and where its money sits now. Shares are of the fund’s classified equity holdings, so they add up to 100%.
Where the weight moved
Compared with
Since Aug 2026, the weight rose most in Banks (+3.0 pts) and Industrial Products (+2.2 pts), and fell most in IT - Software (−2.1 pts) and Gas (−1.3 pts).
- Banks17.2% → 20.1%+3.0 pts
- Industrial Products5.9% → 8.2%+2.2 pts
- Insurance1.6% → 3.7%+2.1 pts
- Petroleum Products3.6% → 4.2%+0.6 pts
- Transport Services2.0% → 2.3%+0.3 pts
- Ferrous Metals1.8% → 1.9%+0.2 pts
- IT - Software6.7% → 4.5%−2.1 pts
- Gas1.3% → 0.0%exited−1.3 pts
- Auto Components5.4% → 4.7%−0.7 pts
- Construction3.2% → 2.5%−0.6 pts
- Finance5.2% → 4.7%−0.5 pts
- Power5.5% → 5.0%−0.5 pts
A sector’s weight changes when the fund buys or sells, and also when its shares rise or fall in price, so a change is not by itself a sign of buying or selling.
Main sectors’ weights over time
| Sector | Aug 2026 | Sep 2026 |
|---|---|---|
| Banks | 17.2% | 20.1% |
| Pharmaceuticals & Biotechnology | 8.9% | 8.6% |
| Industrial Products | 5.9% | 8.2% |
| Power | 5.5% | 5.0% |
| Cement & Cement Products | 5.2% | 4.8% |
| Auto Components | 5.4% | 4.7% |
| Finance | 5.2% | 4.7% |
| IT - Software | 6.7% | 4.5% |
| Petroleum Products | 3.6% | 4.2% |
| Telecom - Services | 4.5% | 4.1% |
Allocation in Sep 2026change vs Aug 2026
- Banks (9)20.1%▲ 3.0 pts
- Pharmaceuticals & Biotechnology (7)8.6%▼ 0.3 pts
- Industrial Products (6)8.2%
Cash and debt
The share of the portfolio not in shares: cash and net receivables, money-market instruments and bonds, as disclosed each month. Cash can dip below zero when payables, often on derivative positions, exceed it. A change here describes what the fund did; it is not a signal.
Cash & debt, Sep 2026
1.6%
▼ 1.3 pts vs Aug 2026
- Cash alone
- 1.6%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 1.6% – 3.0%
- lowest to highest · record 3.0% in Jul 2026
History
Disclosed portfolio value by month, with the stocks the fund entered and exited against its previous disclosure. Every month is a link to that portfolio.