Mahindra Manulife Banking & Financial Services Fund - Direct Plan - Growth

Regular

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.
Direct

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.

Fund House : Mahindra Manulife Mutual Fund

Equity Holding : 92.88% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 92.88%

No of Stocks : 30 (Category Avg - 44.44) | Large Cap Investments : 36.18%| Mid Cap Investments : 13.1% | Small Cap Investments : 9.3% | Other : 34.3%

Portfolio Summary (as on 31st Oct,2025)

Particulars	This Scheme	Category
No. of Stocks	30	43.41
Top 5 Stock Weight	50.08%	32.46%
Top 10 Stock Weight	65.25%	49.59%
Top 3 Sector Weight	72.06%	43.5%

Category - Sectoral/Thematic

Particulars	This Scheme	Category
Average mcap (Cr)	84093.68	72450.77
Holdings in large cap stocks	36.18%	37.14%
Holdings in mid cap stocks	13.1%	14.47%
Holdings in small cap stocks	9.3%	13.1%

Category - Sectoral/Thematic

Top 10 Stocks holding in Portfolio (as on 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
HDFC Bank Ltd.	Private sector bank	573.1	16.46%	0.16%	19.41% (Jul 2025)	0% (Nov 2024)	5.81 L	32.80 k
ICICI Bank Ltd.	Private sector bank	449.8	12.92%	-2.19%	17.46% (Jul 2025)	0% (Nov 2024)	3.34 L	-0.24 L
Axis Bank Ltd.	Private sector bank	275.2	7.90%	0.04%	7.9% (Oct 2025)	0% (Nov 2024)	2.23 L	1.20 k
Kotak Mahindra Bank Ltd.	Private sector bank	230.8	6.63%	-0.22%	6.85% (Sep 2025)	0% (Nov 2024)	1.10 L	0.00
Bajaj Finance Ltd.	Non banking financial company (nbfc)	214.8	6.17%	-0.27%	6.44% (Sep 2025)	0% (Nov 2024)	2.06 L	0.00
State Bank Of India	Public sector bank	138.7	3.98%	-2.14%	6.12% (Sep 2025)	0% (Nov 2024)	1.48 L	-0.76 L
Max Financial Services Ltd.	Life insurance	110.3	3.17%	2.29%	3.17% (Oct 2025)	0% (Nov 2024)	71.30 k	53.50 k
Canara Bank	Public sector bank	101	2.90%	0.05%	2.9% (Oct 2025)	0% (Nov 2024)	7.37 L	0.00
Multi Commodity Exchange Of India Ltd.	Exchange and data platform	91.8	2.64%	0.22%	2.64% (Oct 2025)	0% (Nov 2024)	9.94 k	0.00
RBL Bank Ltd.	Private sector bank	86.5	2.48%	0.18%	2.48% (Oct 2025)	0% (Nov 2024)	2.65 L	0.00

- indicates change in weight in the portfolio. # indicates a new entry.

View complete holding

Complete equity Portfolio (as on 31st Oct,2025)

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Sector
M-Cap

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Stock Invested in	Sector	Sector Total	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty	M-Cap	GroupName
HDFC Bank Ltd.	Private sector bank	49.77	573.1	16.46%	0.16%	19.41% (Jul 2025)	0% (Nov 2024)	5.81 L	32.80 k	Other	34.3
ICICI Bank Ltd.	Private sector bank	49.77	449.8	12.92%	-2.19%	17.46% (Jul 2025)	0% (Nov 2024)	3.34 L	-0.24 L	Large Cap	36.18
Axis Bank Ltd.	Private sector bank	49.77	275.2	7.90%	0.04%	7.9% (Oct 2025)	0% (Nov 2024)	2.23 L	1.20 k	Large Cap	36.18
Kotak Mahindra Bank Ltd.	Private sector bank	49.77	230.8	6.63%	-0.22%	6.85% (Sep 2025)	0% (Nov 2024)	1.10 L	0.00	Large Cap	36.18
Bajaj Finance Ltd.	Non banking financial company (nbfc)	11.95	214.8	6.17%	-0.27%	6.44% (Sep 2025)	0% (Nov 2024)	2.06 L	0.00	Other	34.3
State Bank Of India	Public sector bank	10.34	138.7	3.98%	-2.14%	6.12% (Sep 2025)	0% (Nov 2024)	1.48 L	-0.76 L	Large Cap	36.18
Max Financial Services Ltd.	Life insurance	5.95	110.3	3.17%	2.29%	3.17% (Oct 2025)	0% (Nov 2024)	71.30 k	53.50 k	Mid Cap	13.1
Canara Bank	Public sector bank	10.34	101	2.90%	0.05%	2.9% (Oct 2025)	0% (Nov 2024)	7.37 L	0.00	Other	34.3
Multi Commodity Exchange Of India Ltd.	Exchange and data platform	2.64	91.8	2.64%	0.22%	2.64% (Oct 2025)	0% (Nov 2024)	9.94 k	0.00	Small Cap	9.3
RBL Bank Ltd.	Private sector bank	49.77	86.5	2.48%	0.18%	2.48% (Oct 2025)	0% (Nov 2024)	2.65 L	0.00	Mid Cap	13.1
Indian Bank	Public sector bank	10.34	84.8	2.44%	0.12%	2.44% (Oct 2025)	0% (Nov 2024)	98.80 k	0.00	Mid Cap	13.1
Motilal Oswal Financial Services Ltd.	Stockbroking & allied	2.42	84.4	2.42%	0.94%	2.42% (Oct 2025)	0% (Nov 2024)	86.30 k	33.30 k	Small Cap	9.3
Shriram Finance Ltd.	Non banking financial company (nbfc)	11.95	83.9	2.41%	0.71%	2.41% (Oct 2025)	0% (Nov 2024)	1.12 L	24.00 k	Other	34.3
Karur Vysya Bank Ltd	Private sector bank	49.77	66.7	1.91%	-0.23%	2.28% (Aug 2025)	0% (Nov 2024)	2.74 L	-0.50 L	Small Cap	9.3
HDFC Life Insurance Company Ltd.	Life insurance	5.95	62.1	1.78%	-0.84%	2.81% (Aug 2025)	0% (Nov 2024)	84.80 k	-0.26 L	Large Cap	36.18
Nippon Life India Asset Management Ltd.	Asset management company	1.73	60.4	1.73%	-0.14%	1.96% (Jul 2025)	0% (Nov 2024)	69.00 k	0.00	Mid Cap	13.1
CreditAccess Grameen Ltd.	Microfinance institutions	1.54	53.5	1.54%	1.05%	1.54% (Oct 2025)	0% (Nov 2024)	37.60 k	26.00 k	Small Cap	9.3
IDFC First Bank Ltd.	Private sector bank	49.77	51	1.47%	0.11%	1.47% (Oct 2025)	0% (Nov 2024)	6.24 L	0.00	Mid Cap	13.1
# Tata Capital Ltd.	Non banking financial company (nbfc)	11.95	45.1	1.30%	1.30%	1.3% (Oct 2025)	0% (Nov 2024)	1.38 L	1.38 L	Other	34.3
Cholamandalam Investment & Finance Co. Ltd.	Non banking financial company (nbfc)	11.95	44.5	1.28%	-0.04%	1.32% (Sep 2025)	0% (Nov 2024)	26.25 k	0.00	Other	34.3
PNB Housing Finance Ltd.	Housing finance company	1.95	37.2	1.07%	-0.01%	1.38% (Jul 2025)	0% (Nov 2024)	40.00 k	0.00	Mid Cap	13.1
# Bank Of Baroda	Public sector bank	10.34	35.5	1.02%	1.02%	1.02% (Oct 2025)	0% (Nov 2024)	1.28 L	1.28 L	Large Cap	36.18
# Ujjivan Small Finance Bank Ltd.	Other bank	1.01	35.3	1.01%	1.01%	1.01% (Oct 2025)	0% (Nov 2024)	6.80 L	6.80 L	Other	34.3
SBI Life Insurance Co Ltd.	Life insurance	5.95	34.9	1.00%	-1.55%	2.71% (Aug 2025)	0% (Nov 2024)	17.83 k	-0.28 L	Large Cap	36.18
KFIN Technologies Ltd.	Financial technology (fintech)	0.96	33.5	0.96%	-1.72%	2.74% (Aug 2025)	0% (Nov 2024)	30.50 k	-0.51 L	Other	34.3
ICICI Lombard General Insurance Co Ltd.	General insurance	0.95	33.1	0.95%	-0.28%	1.26% (Aug 2025)	0% (Nov 2024)	16.60 k	-4.20 k	Large Cap	36.18
Prudent Corporate Advisory Services Ltd.	Financial products distributor	0.93	32.3	0.93%	-0.09%	1.17% (Aug 2025)	0% (Nov 2024)	12.64 k	0.00	Other	34.3
Aadhar Housing Finance Ltd.	Housing finance company	1.95	30.6	0.88%	-0.08%	0.96% (Sep 2025)	0% (Nov 2024)	60.00 k	0.00	Other	34.3
IIFL Finance Ltd.	Non banking financial company (nbfc)	11.95	27.4	0.79%	0.06%	0.86% (Jul 2025)	0% (Nov 2024)	51.30 k	0.00	Small Cap	9.3
Rural Electrification Corporation Limited	Financial institution	0.74	25.9	0.74%	-0.07%	0.95% (Jul 2025)	0% (Nov 2024)	69.00 k	0.00	Mid Cap	13.1
Manappuram Finance Ltd.	Non banking financial company (nbfc)	11.95	35.7	0.00%	-1.12%	-	-	-	-	Mid Cap	13.1

- indicates change in weight in the portfolio. # indicates a new entry.

New Stocks added in Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
# Tata Capital Ltd.	Non banking financial company (nbfc)	45.1	1.30%	1.30%	1.3% (Oct 2025)	0% (Nov 2024)	1.38 L	137908
# Ujjivan Small Finance Bank Ltd.	Other bank	35.3	1.01%	1.01%	1.01% (Oct 2025)	0% (Nov 2024)	6.80 L	680000
# Bank Of Baroda	Public sector bank	35.5	1.02%	1.02%	1.02% (Oct 2025)	0% (Nov 2024)	1.28 L	127500

Stocks removed from Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
Manappuram Finance Ltd.	Non banking financial company (nbfc)	35.7	0.00%	-1.12%	1.12% (Jul 2025)	0% (Nov 2024)	0.00	-127000

Trend in stock holdings (Top 15 Holding)

Stock	Oct 2025	Sep 2025	Aug 2025	Jul 2025	Jun 2025	May 2025	Apr 2025	Mar 2025	Feb 2025	Jan 2025	Dec 2024	Nov 2024	Oct 2024
HDFC Bank Ltd.	16.46%	16.30%	18.65%	19.41%	-	-	-	-	-	-	-	-	-
ICICI Bank Ltd.	12.92%	15.11%	16.48%	17.46%	-	-	-	-	-	-	-	-	-
Axis Bank Ltd.	7.90%	7.86%	7.14%	4.66%	-	-	-	-	-	-	-	-	-
Bajaj Finance Ltd.	6.17%	6.44%	5.95%	3.74%	-	-	-	-	-	-	-	-	-
Kotak Mahindra Bank Ltd.	6.63%	6.85%	4.58%	1.76%	-	-	-	-	-	-	-	-	-
State Bank Of India	3.98%	6.12%	5.92%	3.70%	-	-	-	-	-	-	-	-	-
Canara Bank	2.90%	2.85%	2.52%	2.76%	-	-	-	-	-	-	-	-	-
Multi Commodity Exchange Of India Ltd.	2.64%	2.42%	2.42%	-	-	-	-	-	-	-	-	-	-
HDFC Life Insurance Company Ltd.	1.78%	2.62%	2.81%	2.40%	-	-	-	-	-	-	-	-	-
Indian Bank	2.44%	2.32%	2.36%	1.88%	-	-	-	-	-	-	-	-	-
KFIN Technologies Ltd.	0.96%	2.68%	2.74%	-	-	-	-	-	-	-	-	-	-
SBI Life Insurance Co Ltd.	1.00%	2.55%	2.71%	1.92%	-	-	-	-	-	-	-	-	-
RBL Bank Ltd.	2.48%	2.30%	2.28%	0.98%	-	-	-	-	-	-	-	-	-
Motilal Oswal Financial Services Ltd.	2.42%	1.48%	-	-	-	-	-	-	-	-	-	-	-
Karur Vysya Bank Ltd	1.91%	2.14%	2.28%	1.46%	-	-	-	-	-	-	-	-	-