Mahindra Manulife ELSS Tax Saver Fund - Regular 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.

Category : ELSS

Fund House : Mahindra Manulife Mutual Fund

Portfolio Turnover Ratio : 63.00%. Category average turnover ratio is 91.08%. Fund manager updated portfolio less frequently than peers in last 1 year. (I.e. fund manager held stocks/bonds in the portfolio for longer duration than peers)

Equity Holding : 97.54% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 97.54%

No of Stocks : 63 (Category Avg - 53.75) | Large Cap Investments : 51.53%| Mid Cap Investments : 10.33% | Small Cap Investments : 6.34% | Other : 29.34%

Portfolio Summary (as on 31st Oct,2025)

Particulars	This Scheme	Category
No. of Stocks	63	53.75
Top 5 Stock Weight	28.86%	27.25%
Top 10 Stock Weight	44.88%	43.81%
Top 3 Sector Weight	38.09%	31.83%

Category - ELSS

Particulars	This Scheme	Category
Average mcap (Cr)	154869.54	93693.67
Holdings in large cap stocks	51.53%	39.39%
Holdings in mid cap stocks	10.33%	11.3%
Holdings in small cap stocks	6.34%	16.78%

Category - ELSS

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	765.2	7.89%	-0.44%	9.81% (Feb 2025)	7.89% (Oct 2025)	7.75 L	-0.50 L
ICICI Bank Ltd.	Private sector bank	694.3	7.16%	-0.12%	8.94% (Jul 2025)	7.16% (Oct 2025)	5.16 L	7.00 k
Reliance Industries Ltd.	Refineries & marketing	521.7	5.38%	0.30%	5.63% (Jun 2025)	4.39% (Dec 2024)	3.51 L	0.00
Infosys Ltd.	Computers - software & consulting	468.5	4.83%	-0.01%	4.93% (Aug 2025)	3.29% (Mar 2025)	3.16 L	0.00
Bajaj Finance Ltd.	Non banking financial company (nbfc)	349.3	3.60%	0.05%	3.6% (Oct 2025)	0% (Nov 2024)	3.35 L	0.00
Axis Bank Ltd.	Private sector bank	348.9	3.60%	-0.14%	4.04% (Apr 2025)	2.89% (Aug 2025)	2.83 L	-0.28 L
Larsen & Toubro Ltd.	Civil construction	329.6	3.40%	-0.59%	4.11% (Nov 2024)	3.4% (Oct 2025)	81.76 k	-0.21 L
State Bank Of India	Public sector bank	312	3.22%	-0.23%	3.68% (Jan 2025)	2.63% (May 2025)	3.33 L	-0.40 L
Tata Consultancy Services Ltd.	Computers - software & consulting	285.9	2.95%	0.08%	3.5% (Apr 2025)	2.03% (Feb 2025)	93.48 k	0.00
Hindustan Unilever Ltd.	Diversified fmcg	276.1	2.85%	-0.14%	3.28% (Aug 2025)	2.68% (Dec 2024)	1.12 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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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	20.35	765.2	7.89%	-0.44%	9.81% (Feb 2025)	7.89% (Oct 2025)	7.75 L	-0.50 L	Other	29.34
ICICI Bank Ltd.	Private sector bank	20.35	694.3	7.16%	-0.12%	8.94% (Jul 2025)	7.16% (Oct 2025)	5.16 L	7.00 k	Large Cap	51.53
Reliance Industries Ltd.	Refineries & marketing	5.38	521.7	5.38%	0.30%	5.63% (Jun 2025)	4.39% (Dec 2024)	3.51 L	0.00	Large Cap	51.53
Infosys Ltd.	Computers - software & consulting	9.75	468.5	4.83%	-0.01%	4.93% (Aug 2025)	3.29% (Mar 2025)	3.16 L	0.00	Large Cap	51.53
Bajaj Finance Ltd.	Non banking financial company (nbfc)	7.99	349.3	3.60%	0.05%	3.6% (Oct 2025)	0% (Nov 2024)	3.35 L	0.00	Other	29.34
Axis Bank Ltd.	Private sector bank	20.35	348.9	3.60%	-0.14%	4.04% (Apr 2025)	2.89% (Aug 2025)	2.83 L	-0.28 L	Large Cap	51.53
Larsen & Toubro Ltd.	Civil construction	3.4	329.6	3.40%	-0.59%	4.11% (Nov 2024)	3.4% (Oct 2025)	81.76 k	-0.21 L	Large Cap	51.53
State Bank Of India	Public sector bank	3.22	312	3.22%	-0.23%	3.68% (Jan 2025)	2.63% (May 2025)	3.33 L	-0.40 L	Large Cap	51.53
Tata Consultancy Services Ltd.	Computers - software & consulting	9.75	285.9	2.95%	0.08%	3.5% (Apr 2025)	2.03% (Feb 2025)	93.48 k	0.00	Large Cap	51.53
Hindustan Unilever Ltd.	Diversified fmcg	2.85	276.1	2.85%	-0.14%	3.28% (Aug 2025)	2.68% (Dec 2024)	1.12 L	0.00	Large Cap	51.53
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	2.69	260.9	2.69%	0.06%	3.22% (Jun 2025)	2.47% (Dec 2024)	1.27 L	-5.00 k	Large Cap	51.53
Cholamandalam Investment & Finance Co. Ltd.	Non banking financial company (nbfc)	7.99	259.6	2.68%	-0.12%	2.8% (Sep 2025)	1.06% (Nov 2024)	1.53 L	-0.11 L	Other	29.34
Titan Company Ltd.	Gems, jewellery and watches	1.89	183.6	1.89%	0.43%	1.89% (Oct 2025)	0% (Nov 2024)	49.00 k	8.00 k	Large Cap	51.53
Ultratech Cement Ltd.	Cement & cement products	1.87	181.6	1.87%	-0.32%	2.27% (Aug 2025)	0% (Nov 2024)	15.20 k	-1.70 k	Large Cap	51.53
Indusind Bank Ltd.	Private sector bank	20.35	164.9	1.70%	0.26%	1.7% (Oct 2025)	0.98% (Mar 2025)	2.07 L	23.00 k	Large Cap	51.53
Tata Steel Ltd.	Iron & steel products	1.6	155.4	1.60%	-0.09%	1.69% (Sep 2025)	0% (Nov 2024)	8.50 L	-0.95 L	Other	29.34
Tata Power Co. Ltd.	Integrated power utilities	1.59	153.9	1.59%	-0.24%	2.09% (Jul 2025)	0% (Nov 2024)	3.80 L	-0.63 L	Mid Cap	10.33
Britannia Industries Ltd.	Packaged foods	1.5	145.9	1.50%	-0.09%	2.04% (Aug 2025)	1.5% (Dec 2024)	25.00 k	0.00	Large Cap	51.53
ICICI Prudential Life Insurance Co Ltd.	Life insurance	1.29	125.3	1.29%	-0.05%	1.83% (May 2025)	0.98% (Nov 2024)	2.12 L	0.00	Large Cap	51.53
Asian Paints (india) Ltd.	Paints	1.26	122.1	1.26%	0.05%	1.3% (Aug 2025)	0.98% (Dec 2024)	48.65 k	0.00	Large Cap	51.53
Info Edge (India) Ltd.	Internet & catalogue retail	1.24	120.7	1.24%	0.02%	1.33% (Jun 2025)	0.83% (Feb 2025)	87.59 k	0.00	Other	29.34
TVS Motor Company Ltd.	2/3 wheelers	2.14	114.2	1.18%	-0.46%	1.69% (Aug 2025)	0% (Nov 2024)	32.55 k	-0.13 L	Mid Cap	10.33
Page Industries Ltd.	Garments & apparels	1.97	111.2	1.15%	-0.02%	1.71% (Dec 2024)	1.15% (Oct 2025)	2.70 k	0.00	Mid Cap	10.33
LTIMindtree Ltd.	Computers - software & consulting	9.75	106	1.09%	0.07%	1.09% (Oct 2025)	0.86% (Dec 2024)	18.65 k	0.00	Mid Cap	10.33
Voltas Limited	Household appliances	2.12	103.8	1.07%	-0.01%	2.44% (Dec 2024)	1.05% (Jul 2025)	75.00 k	0.00	Mid Cap	10.33
Crompton Greaves Consumer Electricals Ltd.	Household appliances	2.12	102.1	1.05%	-0.07%	1.59% (Nov 2024)	1.05% (Oct 2025)	3.61 L	0.00	Mid Cap	10.33
Jyoti CNC Automation Ltd.	Industrial products	1.04	101.1	1.04%	-0.02%	1.25% (Jul 2025)	0.76% (Apr 2025)	1.17 L	0.00	Other	29.34
UNO Minda Ltd.	Auto components & equipments	1.03	100.1	1.03%	0.01%	1.49% (Dec 2024)	0.84% (Jul 2025)	81.00 k	7.00 k	Small Cap	6.34
Jubilant Foodworks Ltd.	Restaurants	1.82	95.7	0.99%	0.04%	0.99% (Oct 2025)	0% (Nov 2024)	1.60 L	15.00 k	Other	29.34
Neuland Laboratories Ltd.	Pharmaceuticals	4.59	93.9	0.97%	0.09%	0.97% (Oct 2025)	0% (Nov 2024)	5.70 k	0.00	Small Cap	6.34
Dr. Reddys Laboratories Ltd.	Pharmaceuticals	4.59	92.2	0.95%	0.27%	0.95% (Oct 2025)	0% (Nov 2024)	77.00 k	25.00 k	Other	29.34
CG Power and Industrial Solutions Ltd.	Heavy electrical equipment	0.95	92.1	0.95%	-0.03%	0.98% (Sep 2025)	0.74% (Jun 2025)	1.25 L	0.00	Small Cap	6.34
- Doms Industries Ltd.	Stationary	0.94	91.2	0.94%	0.00%	1.15% (Feb 2025)	0% (Nov 2024)	35.45 k	0.00	Other	29.34
Eicher Motors Ltd.	2/3 wheelers	2.14	91.1	0.94%	-0.18%	1.51% (Jan 2025)	0.9% (May 2025)	13.00 k	-2.00 k	Other	29.34
Navin Flourine International Ltd.	Commodity chemicals	1.5	91	0.94%	0.16%	1.23% (Nov 2024)	0.78% (Sep 2025)	16.00 k	0.00	Small Cap	6.34
Cipla Ltd.	Pharmaceuticals	4.59	90.1	0.93%	-0.03%	1.5% (Feb 2025)	0.9% (Nov 2024)	60.00 k	0.00	Large Cap	51.53
Swiggy Ltd.	E-retail/ e-commerce	0.89	86.1	0.89%	0.06%	0.89% (Oct 2025)	0% (Nov 2024)	2.10 L	25.00 k	Other	29.34
# Tech Mahindra Ltd.	Computers - software & consulting	9.75	85.5	0.88%	0.88%	0.88% (Oct 2025)	0% (Nov 2024)	60.00 k	60.00 k	Large Cap	51.53
# Tata Capital Ltd.	Non banking financial company (nbfc)	7.99	85	0.88%	0.88%	0.88% (Oct 2025)	0% (Nov 2024)	2.60 L	2.60 L	Other	29.34
GlaxoSmithKline Pharmaceuticals Ltd.	Pharmaceuticals	4.59	84.7	0.87%	-0.04%	1.08% (Apr 2025)	0.59% (Jan 2025)	32.33 k	0.00	Mid Cap	10.33
Mankind Pharma Ltd.	Pharmaceuticals	4.59	84.3	0.87%	-0.04%	0.91% (Sep 2025)	0% (Nov 2024)	35.35 k	0.00	Other	29.34
Avenue Supermarts Ltd.	Diversified retail	0.86	83.1	0.86%	-0.36%	1.3% (Aug 2025)	0% (Nov 2024)	20.00 k	-5.68 k	Large Cap	51.53
Godrej Properties Ltd.	Residential, commercial projects	0.83	80.6	0.83%	0.10%	0.83% (Oct 2025)	0% (Nov 2024)	35.21 k	208.00	Mid Cap	10.33
Devyani International Ltd.	Restaurants	1.82	80.5	0.83%	-0.06%	0.92% (Aug 2025)	0% (Nov 2024)	4.97 L	0.00	Other	29.34
SBI Cards and Payment Services Ltd.	Non banking financial company (nbfc)	7.99	80.2	0.83%	0.15%	0.83% (Oct 2025)	0% (Nov 2024)	91.23 k	18.00 k	Other	29.34
Gokaldas Exports Ltd.	Garments & apparels	1.97	79.6	0.82%	0.09%	1.24% (Dec 2024)	0.68% (Aug 2025)	95.00 k	0.00	Small Cap	6.34
Dixon Technologies (India) Ltd.	Consumer electronics	1.75	77.5	0.80%	-0.07%	1.05% (Aug 2025)	0% (Nov 2024)	5.00 k	0.00	Other	29.34
Astral Ltd.	Plastic products - industrial	0.78	75.9	0.78%	0.02%	0.78% (Oct 2025)	0% (Nov 2024)	52.33 k	0.00	Mid Cap	10.33
Vinati Organics Ltd.	Specialty chemicals	0.75	72.7	0.75%	-0.06%	1.16% (Nov 2024)	0.75% (Oct 2025)	43.97 k	0.00	Other	29.34
Arvind Fashions Ltd.	Speciality retail	0.73	70.4	0.73%	-0.05%	1.38% (Jul 2025)	0.73% (Oct 2025)	1.40 L	0.00	Other	29.34
Bata India Ltd.	Footwear	0.72	69.6	0.72%	-0.08%	1.17% (Nov 2024)	0.72% (Oct 2025)	65.00 k	0.00	Mid Cap	10.33
V.I.P. Industries Ltd	Plastic products - consumer	0.71	69.1	0.71%	-0.04%	0.87% (May 2025)	0.52% (Mar 2025)	1.70 L	0.00	Small Cap	6.34
Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	1.23	61.5	0.63%	-0.02%	0.65% (Sep 2025)	0% (Nov 2024)	3.80 k	0.00	Large Cap	51.53
ICICI Lombard General Insurance Co Ltd.	General insurance	0.63	61	0.63%	0.02%	0.63% (Oct 2025)	0% (Nov 2024)	30.59 k	0.00	Large Cap	51.53
Tata Motors Ltd.	Passenger cars & utility vehicles	1.23	58.6	0.60%	-0.26%	0.86% (Sep 2025)	0% (Nov 2024)	1.43 L	24.00 k	Large Cap	51.53
# Indus Towers Ltd.	Telecom - infrastructure	0.6	58.2	0.60%	0.60%	0.6% (Oct 2025)	0% (Nov 2024)	1.60 L	1.60 L	Large Cap	51.53
GHCL Ltd.	Commodity chemicals	1.5	54.4	0.56%	0.01%	0.75% (Dec 2024)	0.5% (Aug 2025)	85.00 k	0.00	Small Cap	6.34
# LG Electronics India Pvt. Ltd.	Consumer electronics	1.75	47.5	0.49%	0.49%	0.49% (Oct 2025)	0% (Nov 2024)	28.52 k	28.52 k	Other	29.34
Havells India Ltd.	Consumer electronics	1.75	44.8	0.46%	-0.02%	0.52% (Apr 2025)	0% (Nov 2024)	30.00 k	0.00	Large Cap	51.53
# TML Commercial Vehicles Ltd.	Commercial vehicles	0.38	37.3	0.38%	0.38%	0.38% (Oct 2025)	0% (Nov 2024)	1.43 L	1.43 L	Other	29.34
- Kajaria Ceramics Ltd.	Ceramics	0.36	35.3	0.36%	0.00%	0.38% (Aug 2025)	0% (Nov 2024)	29.24 k	-97.00	Small Cap	6.34
InterGlobe Aviation Ltd.	Airline	0.35	33.8	0.35%	-0.01%	1.66% (Feb 2025)	0.35% (Oct 2025)	6.00 k	0.00	Large Cap	51.53
# TVS Motor Company Ltd. - Preference Shares	2/3 wheelers	2.14	2	0.02%	0.00%	0% (Nov 2025)	0% (Nov 2025)	1.94 L	0.00	Other	29.34
Max Healthcare Institute Ltd.	Hospital		47.9	0.00%	-0.51%	-	-	-	-	Other	29.34

- 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
# TML Commercial Vehicles Ltd.	Commercial vehicles	37.3	0.38%	0.38%	0.38% (Oct 2025)	0% (Nov 2024)	1.43 L	143000
# Tata Capital Ltd.	Non banking financial company (nbfc)	85	0.88%	0.88%	0.88% (Oct 2025)	0% (Nov 2024)	2.60 L	259554
# Indus Towers Ltd.	Telecom - infrastructure	58.2	0.60%	0.60%	0.6% (Oct 2025)	0% (Nov 2024)	1.60 L	160000
# LG Electronics India Pvt. Ltd.	Consumer electronics	47.5	0.49%	0.49%	0.49% (Oct 2025)	0% (Nov 2024)	28.52 k	28524
# Tech Mahindra Ltd.	Computers - software & consulting	85.5	0.88%	0.88%	0.88% (Oct 2025)	0% (Nov 2024)	60.00 k	60000

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
Max Healthcare Institute Ltd.	Hospital	47.9	0.00%	-0.51%	0.7% (Feb 2025)	0% (Nov 2024)	0.00	-43000

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.	7.89%	8.33%	8.14%	9.45%	9.11%	9.13%	9.30%	9.70%	9.81%	9.01%	9.16%	9.16%	9.79%
ICICI Bank Ltd.	7.16%	7.28%	7.35%	8.94%	8.49%	8.75%	8.89%	8.66%	8.93%	8.71%	8.68%	8.69%	8.70%
Reliance Industries Ltd.	5.38%	5.08%	5.06%	4.95%	5.63%	5.50%	5.59%	4.73%	4.75%	4.69%	4.39%	4.61%	4.78%
Infosys Ltd.	4.83%	4.84%	4.93%	4.53%	4.19%	3.78%	3.61%	3.29%	4.07%	4.25%	4.29%	4.19%	4.94%
Larsen & Toubro Ltd.	3.40%	3.99%	3.93%	3.92%	3.85%	3.98%	3.72%	4.01%	3.87%	4.09%	4.03%	4.11%	4.02%
Axis Bank Ltd.	3.60%	3.74%	2.89%	2.92%	3.18%	3.95%	4.04%	3.88%	3.81%	2.97%	3.13%	3.29%	3.07%
State Bank Of India	3.22%	3.45%	3.18%	3.12%	2.87%	2.63%	2.63%	3.15%	3.00%	3.68%	3.68%	3.48%	3.42%
Hindustan Unilever Ltd.	2.85%	2.99%	3.28%	3.07%	2.72%	2.87%	2.94%	2.93%	2.77%	2.92%	2.68%	2.84%	2.62%
Tata Consultancy Services Ltd.	2.95%	2.87%	3.06%	2.98%	3.30%	3.41%	3.50%	2.86%	2.03%	2.25%	2.18%	2.25%	2.10%
Bharti Airtel Ltd.	2.69%	2.63%	2.65%	2.55%	3.22%	3.07%	3.17%	3.04%	2.68%	2.60%	2.47%	2.50%	1.81%
Bajaj Finance Ltd.	3.60%	3.55%	2.70%	2.68%	2.29%	2.56%	2.48%	1.20%	1.12%	0.97%	-	-	-
Cholamandalam Investment & Finance Co. Ltd.	2.68%	2.80%	2.48%	2.00%	2.19%	2.22%	2.13%	2.13%	2.29%	1.97%	1.64%	1.06%	0.55%
UNO Minda Ltd.	1.03%	1.02%	1.05%	0.84%	0.87%	2.20%	2.50%	2.28%	2.30%	2.48%	2.98%	2.94%	2.56%
Tata Power Co. Ltd.	1.59%	1.83%	1.99%	2.09%	1.88%	1.98%	2.00%	2.01%	-	-	-	-	-
Shree Cement Ltd.	-	-	-	-	-	-	-	0.44%	1.62%	2.17%	2.31%	2.31%	2.05%