Mahindra Manulife Large & Mid Cap 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

Portfolio Turnover Ratio : 108.00%. Category average turnover ratio is 117.46%. 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 : 96.08% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 96.08%

No of Stocks : 69 (Category Avg - 77.45) | Large Cap Investments : 37.8%| Mid Cap Investments : 25.43% | Small Cap Investments : 9.39% | Other : 23.46%

Portfolio Summary (as on 31st Oct,2025)

Particulars	This Scheme	Category
No. of Stocks	69	75.82
Top 5 Stock Weight	15.56%	19.93%
Top 10 Stock Weight	27.2%	32.85%
Top 3 Sector Weight	32.99%	27.16%

Category - Large & Mid Cap Fund

Particulars	This Scheme	Category
Average mcap (Cr)	60604.34	72436.26
Holdings in large cap stocks	37.8%	32.23%
Holdings in mid cap stocks	25.43%	21.93%
Holdings in small cap stocks	9.39%	11.75%

Category - Large & Mid Cap Fund

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
Indus Towers Ltd.	Telecom - infrastructure	1010.8	3.63%	0.03%	4.53% (Apr 2025)	0% (Nov 2024)	27.80 L	0.00
ICICI Bank Ltd.	Private sector bank	906.7	3.26%	-0.17%	3.71% (Jul 2025)	2.16% (Jun 2025)	6.74 L	0.00
Glenmark Pharmaceuticals Ltd.	Pharmaceuticals	849.2	3.05%	-0.26%	3.56% (Jul 2025)	0% (Nov 2024)	4.49 L	0.00
Divis Laboratories Ltd.	Pharmaceuticals	842.3	3.03%	0.34%	3.14% (Feb 2025)	2.69% (Sep 2025)	1.25 L	0.00
State Bank Of India	Public sector bank	719.6	2.59%	0.49%	2.59% (Oct 2025)	0% (Nov 2024)	7.68 L	1.30 L
Axis Bank Ltd.	Private sector bank	678	2.44%	0.09%	2.44% (Oct 2025)	0% (Nov 2024)	5.50 L	0.00
Ultratech Cement Ltd.	Cement & cement products	654.7	2.35%	-0.18%	2.65% (Aug 2025)	0% (Nov 2024)	54.80 k	0.00
RBL Bank Ltd.	Private sector bank	639.7	2.30%	0.25%	2.3% (Oct 2025)	0% (Nov 2024)	19.60 L	0.00
Fortis Healthcare Ltd.	Hospital	634.3	2.28%	1.33%	2.28% (Oct 2025)	0% (Nov 2024)	6.20 L	3.60 L
J S W Steel Ltd.	Iron & steel products	633.2	2.27%	0.22%	2.27% (Oct 2025)	0% (Nov 2024)	5.25 L	50.00 k

- 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
Indus Towers Ltd.	Telecom - infrastructure	3.63	1010.8	3.63%	0.03%	4.53% (Apr 2025)	0% (Nov 2024)	27.80 L	0.00	Large Cap	37.8
ICICI Bank Ltd.	Private sector bank	14.24	906.7	3.26%	-0.17%	3.71% (Jul 2025)	2.16% (Jun 2025)	6.74 L	0.00	Large Cap	37.8
Glenmark Pharmaceuticals Ltd.	Pharmaceuticals	13.43	849.2	3.05%	-0.26%	3.56% (Jul 2025)	0% (Nov 2024)	4.49 L	0.00	Mid Cap	25.43
Divis Laboratories Ltd.	Pharmaceuticals	13.43	842.3	3.03%	0.34%	3.14% (Feb 2025)	2.69% (Sep 2025)	1.25 L	0.00	Large Cap	37.8
State Bank Of India	Public sector bank	5.25	719.6	2.59%	0.49%	2.59% (Oct 2025)	0% (Nov 2024)	7.68 L	1.30 L	Large Cap	37.8
Axis Bank Ltd.	Private sector bank	14.24	678	2.44%	0.09%	2.44% (Oct 2025)	0% (Nov 2024)	5.50 L	0.00	Large Cap	37.8
Ultratech Cement Ltd.	Cement & cement products	2.35	654.7	2.35%	-0.18%	2.65% (Aug 2025)	0% (Nov 2024)	54.80 k	0.00	Large Cap	37.8
RBL Bank Ltd.	Private sector bank	14.24	639.7	2.30%	0.25%	2.3% (Oct 2025)	0% (Nov 2024)	19.60 L	0.00	Mid Cap	25.43
Fortis Healthcare Ltd.	Hospital	3.94	634.3	2.28%	1.33%	2.28% (Oct 2025)	0% (Nov 2024)	6.20 L	3.60 L	Other	23.46
J S W Steel Ltd.	Iron & steel products	2.27	633.2	2.27%	0.22%	2.27% (Oct 2025)	0% (Nov 2024)	5.25 L	50.00 k	Large Cap	37.8
Kaynes Technology India Private Ltd.	Industrial products	2.27	632.9	2.27%	-0.25%	2.52% (Sep 2025)	1.06% (Nov 2024)	94.40 k	0.00	Other	23.46
# Federal Bank Ltd.	Private sector bank	14.24	591.5	2.12%	2.12%	2.12% (Oct 2025)	0% (Nov 2024)	25.00 L	25.00 L	Mid Cap	25.43
Laurus Labs Ltd.	Pharmaceuticals	13.43	591.3	2.12%	0.15%	2.97% (Jul 2025)	0% (Nov 2024)	6.20 L	0.00	Other	23.46
IDFC First Bank Ltd.	Private sector bank	14.24	580.6	2.09%	0.22%	2.09% (Oct 2025)	0% (Nov 2024)	71.00 L	0.00	Mid Cap	25.43
Polycab India Limited	Cables - electricals	2.08	577.8	2.08%	0.02%	2.08% (Oct 2025)	0% (Nov 2024)	75.00 k	0.00	Other	23.46
Indusind Bank Ltd.	Private sector bank	14.24	564.3	2.03%	0.06%	2.38% (Apr 2025)	0% (Nov 2024)	7.10 L	0.00	Large Cap	37.8
Angel One Ltd.	Stockbroking & allied	1.85	515.9	1.85%	0.99%	1.85% (Oct 2025)	0% (Nov 2024)	2.07 L	1.00 L	Other	23.46
Senores Pharmaceuticals Ltd.	Pharmaceuticals	13.43	512.9	1.84%	0.11%	1.84% (Oct 2025)	0% (Nov 2024)	6.65 L	0.00	Other	23.46
DLF Ltd.	Residential, commercial projects	3.3	502.9	1.81%	0.02%	2.01% (Jun 2025)	0% (Nov 2024)	6.65 L	0.00	Large Cap	37.8
Bajaj Finserv Ltd	Holding company	1.8	500.2	1.80%	0.14%	1.8% (Oct 2025)	0% (Nov 2024)	2.40 L	20.00 k	Other	23.46
Dabur India Ltd.	Personal care	1.72	477.8	1.72%	-0.10%	1.95% (Aug 2025)	0% (Nov 2024)	9.80 L	0.00	Large Cap	37.8
Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	2.81	472.6	1.70%	-0.07%	1.88% (Aug 2025)	0% (Nov 2024)	29.20 k	0.00	Large Cap	37.8
Apollo Hospitals Enterprises Ltd.	Hospital	3.94	460.9	1.66%	0.68%	1.66% (Oct 2025)	0% (Nov 2024)	60.00 k	25.00 k	Mid Cap	25.43
Neuland Laboratories Ltd.	Pharmaceuticals	13.43	458	1.65%	0.12%	1.78% (Nov 2024)	1.17% (Jun 2025)	27.80 k	0.00	Small Cap	9.39
Indian Bank	Public sector bank	5.25	455.1	1.63%	0.13%	1.63% (Oct 2025)	0% (Nov 2024)	5.30 L	0.00	Mid Cap	25.43
Infosys Ltd.	Computers - software & consulting	5.32	452.1	1.62%	-0.04%	1.72% (Aug 2025)	0% (Nov 2024)	3.05 L	0.00	Large Cap	37.8
Oracle Financial Services Software Limited	Software products	1.62	451.3	1.62%	-0.06%	1.84% (Apr 2025)	0% (Nov 2024)	53.00 k	0.00	Mid Cap	25.43
Bosch Ltd.	Auto components & equipments	3.6	432	1.55%	-0.12%	1.77% (Aug 2025)	0% (Nov 2024)	11.60 k	0.00	Large Cap	37.8
- ICICI Lombard General Insurance Co Ltd.	General insurance	1.41	392.8	1.41%	0.00%	1.48% (Apr 2025)	1.26% (Dec 2024)	1.97 L	0.00	Large Cap	37.8
Kajaria Ceramics Ltd.	Ceramics	1.4	390.1	1.40%	-0.02%	1.5% (Aug 2025)	0% (Nov 2024)	3.23 L	0.00	Small Cap	9.39
HDFC Asset Management Co. Ltd.	Asset management company	1.79	333.5	1.20%	-0.10%	1.3% (Aug 2025)	0% (Nov 2024)	62.00 k	0.00	Large Cap	37.8
Bharat Heavy Electricals Ltd.	Heavy electrical equipment	1.19	331.9	1.19%	0.06%	1.24% (May 2025)	0% (Nov 2024)	12.50 L	0.00	Mid Cap	25.43
Bharat Electronics Ltd.	Aerospace & defense	1.78	330.2	1.19%	0.01%	1.19% (Oct 2025)	0% (Nov 2024)	7.75 L	0.00	Mid Cap	25.43
Amara Raja Batteries Limited	Auto components & equipments	3.6	327.6	1.18%	-0.04%	1.22% (Sep 2025)	0.65% (Jan 2025)	3.26 L	0.00	Mid Cap	25.43
CRISIL Ltd.	Other financial services	1.13	314.5	1.13%	0.06%	1.6% (Dec 2024)	1.06% (Mar 2025)	63.80 k	0.00	Mid Cap	25.43
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	2.81	310.4	1.11%	-0.04%	2.28% (Jan 2025)	0% (Nov 2024)	89.00 k	0.00	Large Cap	37.8
IIFL Finance Ltd.	Non banking financial company (nbfc)	1.58	307.4	1.10%	0.12%	1.1% (Oct 2025)	0% (Nov 2024)	5.75 L	0.00	Small Cap	9.39
Bharti Hexacom Ltd.	Telecom - equipment & accessories	1.1	307	1.10%	-0.25%	2% (May 2025)	1.1% (Oct 2025)	1.65 L	-0.50 L	Other	23.46
InterGlobe Aviation Ltd.	Airline	1.1	304.9	1.10%	-0.05%	2.93% (Mar 2025)	1.1% (Oct 2025)	54.20 k	0.00	Large Cap	37.8
Reliance Industries Ltd.	Refineries & marketing	1.09	304.7	1.09%	-0.48%	4.66% (Jan 2025)	1.09% (Oct 2025)	2.05 L	-1.00 L	Large Cap	37.8
Torrent Power Ltd.	Integrated power utilities	1.06	294.9	1.06%	0.03%	1.38% (Apr 2025)	1.02% (Nov 2024)	2.24 L	0.00	Mid Cap	25.43
Canara Bank	Public sector bank	5.25	287.7	1.03%	-1.03%	2.06% (Sep 2025)	0% (Nov 2024)	21.00 L	-0.23 Cr	Other	23.46
SRF Ltd.	Specialty chemicals	1.75	287.2	1.03%	-0.02%	1.11% (Jul 2025)	0% (Nov 2024)	98.00 k	0.00	Mid Cap	25.43
Sri Lotus Developers And Realty Ltd.	Residential, commercial projects	3.3	277	0.99%	-0.10%	1.09% (Sep 2025)	0% (Nov 2024)	15.20 L	0.00	Other	23.46
Mphasis Ltd.	Computers - software & consulting	5.32	276.4	0.99%	-0.51%	2.01% (Aug 2025)	0% (Nov 2024)	1.00 L	-0.50 L	Mid Cap	25.43
ITC Hotels Ltd	Hotels & resorts	0.94	261.3	0.94%	-0.09%	1.1% (Aug 2025)	0% (Nov 2024)	12.05 L	0.00	Other	23.46
LTIMindtree Ltd.	Computers - software & consulting	5.32	257.8	0.93%	-0.78%	2.2% (Jan 2025)	0.93% (Oct 2025)	45.34 k	-0.43 L	Mid Cap	25.43
Mankind Pharma Ltd.	Pharmaceuticals	13.43	255.1	0.92%	-0.06%	1.16% (Dec 2024)	0.55% (Nov 2024)	1.07 L	0.00	Other	23.46
Persistent Systems Ltd.	Computers - software & consulting	5.32	248.5	0.89%	-0.24%	3.17% (Dec 2024)	0.89% (Oct 2025)	42.00 k	-0.20 L	Other	23.46
PTC Industries Ltd.	Other industrial products	0.89	247.2	0.89%	0.05%	0.92% (Mar 2025)	0.69% (Feb 2025)	14.30 k	0.00	Small Cap	9.39
Wipro Ltd.	Computers - software & consulting	5.32	246.7	0.89%	-0.04%	0.98% (Aug 2025)	0% (Nov 2024)	10.25 L	0.00	Large Cap	37.8
Vishal Mega Mart Ltd.	Diversified retail	0.87	243.1	0.87%	-0.36%	1.59% (Aug 2025)	0% (Nov 2024)	16.80 L	-5.00 L	Other	23.46
Blue Star Ltd.	Household appliances	0.87	242.2	0.87%	-0.02%	0.9% (Aug 2025)	0% (Nov 2024)	1.25 L	0.00	Small Cap	9.39
Tube Investments Of India Ltd.	Auto components & equipments	3.6	241.8	0.87%	-0.07%	0.94% (Sep 2025)	0% (Nov 2024)	80.00 k	0.00	Small Cap	9.39
Cholamandalam Financial Holdings Ltd.	Investment company	0.82	228.8	0.82%	-0.03%	0.94% (Jun 2025)	0.59% (Dec 2024)	1.20 L	0.00	Small Cap	9.39
Ipca Laboratories Ltd.	Pharmaceuticals	13.43	227.5	0.82%	-0.09%	1.07% (Dec 2024)	0.82% (Oct 2025)	1.79 L	0.00	Other	23.46
Solar Industries India Ltd.	Explosives	0.8	223.4	0.80%	-0.01%	1.02% (Jun 2025)	0% (Nov 2024)	16.10 k	0.00	Small Cap	9.39
Aarti Industries Ltd.	Specialty chemicals	1.75	201.4	0.72%	-0.03%	0.95% (May 2025)	0% (Nov 2024)	5.30 L	0.00	Mid Cap	25.43
Coal India Ltd.	Coal	0.68	188.5	0.68%	-0.03%	0.71% (Sep 2025)	0% (Nov 2024)	4.85 L	0.00	Large Cap	37.8
Aditya Birla Sun Life AMC Ltd.	Asset management company	1.79	163.8	0.59%	-0.05%	0.69% (Aug 2025)	0% (Nov 2024)	2.15 L	0.00	Other	23.46
Hindustan Aeronautics Ltd.	Aerospace & defense	1.78	163.8	0.59%	-0.04%	0.66% (May 2025)	0% (Nov 2024)	35.00 k	0.00	Other	23.46
Central Depository Services (India) Ltd.	Depositories, clearing houses and other intermediaries	0.52	146	0.52%	-0.54%	1.57% (Jun 2025)	0.52% (Oct 2025)	92.00 k	-1.00 L	Small Cap	9.39
Prestige Estates Projects Ltd.	Residential, commercial projects	3.3	139.6	0.50%	0.04%	0.5% (Oct 2025)	0% (Nov 2024)	80.00 k	0.00	Mid Cap	25.43
Bajaj Finance Ltd.	Non banking financial company (nbfc)	1.58	134.5	0.48%	-0.01%	4.17% (Mar 2025)	0.48% (Oct 2025)	1.29 L	0.00	Other	23.46
Pi Industries Ltd.	Pesticides & agrochemicals	0.48	134.4	0.48%	-1.15%	2.45% (Jul 2025)	0.48% (Oct 2025)	37.57 k	-0.85 L	Mid Cap	25.43
Technocraft Industires (India) Ltd.	Spinning-cotton/blended	0.47	130	0.47%	0.02%	0.63% (May 2025)	0.45% (Sep 2025)	53.45 k	0.00	Small Cap	9.39
J S W Energy Ltd.	Power generation	0.37	103.9	0.37%	-0.03%	0.4% (Sep 2025)	0% (Nov 2024)	1.97 L	0.00	Mid Cap	25.43
Bajaj Auto Ltd.	2/3 wheelers	0.32	88.9	0.32%	-0.01%	0.33% (Sep 2025)	0% (Nov 2024)	10.00 k	0.00	Large Cap	37.8
- Syngene International Ltd.	Healthcare research, analytics & technology	0.19	52	0.19%	0.00%	0.21% (Jul 2025)	0% (Nov 2024)	80.00 k	0.00	Mid Cap	25.43
Suzlon Energy Ltd.	Heavy electrical equipment	1.19	236.7	0.00%	-0.89%	-	-	-	-	Small Cap	9.39
NBCC (India) Ltd.	Civil construction		177.5	0.00%	-0.67%	-	-	-	-	Mid Cap	25.43
Arvind Ltd.	Garments & apparels		73.5	0.00%	-0.28%	-	-	-	-	Small Cap	9.39

- 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
# Federal Bank Ltd.	Private sector bank	591.5	2.12%	2.12%	2.12% (Oct 2025)	0% (Nov 2024)	25.00 L	2500000

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	1M Change in Qty
Suzlon Energy Ltd.	Heavy electrical equipment	236.7	0.00%	-0.89%	1.44% (May 2025)	0% (Nov 2024)	-4300000
NBCC (India) Ltd.	Civil construction	177.5	0.00%	-0.67%	1.6% (May 2025)	0% (Nov 2024)	-1657431
Arvind Ltd.	Garments & apparels	73.5	0.00%	-0.28%	0.63% (Dec 2024)	0% (Nov 2024)	-242000

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.	-	-	1.24%	1.95%	1.88%	3.92%	4.56%	5.72%	8.41%	8.28%	7.22%	6.50%	5.72%
Indus Towers Ltd.	3.63%	3.60%	3.60%	3.75%	4.23%	4.06%	4.53%	3.18%	3.31%	2.58%	-	-	-
Glenmark Pharmaceuticals Ltd.	3.05%	3.31%	3.31%	3.56%	2.85%	-	-	-	-	-	-	-	-
Divis Laboratories Ltd.	3.03%	2.69%	2.93%	3.07%	3.08%	3.14%	3.04%	3.08%	3.14%	2.97%	3.06%	2.74%	2.42%
Reliance Industries Ltd.	1.09%	1.57%	2.29%	2.28%	2.39%	2.38%	2.47%	3.52%	3.56%	4.66%	4.22%	3.85%	4.01%
ICICI Bank Ltd.	3.26%	3.43%	3.61%	3.71%	2.16%	2.27%	2.35%	2.31%	3.14%	3.03%	2.92%	3.00%	2.31%
Ultratech Cement Ltd.	2.35%	2.53%	2.65%	2.50%	2.40%	2.34%	2.55%	2.53%	2.40%	-	-	-	-
BSE Ltd.	-	-	-	-	1.70%	1.73%	1.57%	1.92%	3.07%	3.26%	2.52%	2.24%	2.16%
Zomato Ltd.	-	-	-	-	-	-	-	-	2.45%	2.25%	1.76%	-	-
Indusind Bank Ltd.	2.03%	1.97%	2.01%	2.11%	2.24%	2.21%	2.38%	-	-	-	-	-	-
Trent Limited	-	-	-	-	-	0.75%	1.09%	2.52%	2.47%	2.72%	2.68%	2.34%	2.42%
Pi Industries Ltd.	0.48%	1.63%	2.19%	2.45%	2.30%	2.25%	2.25%	2.17%	2.06%	2.20%	2.20%	2.45%	2.73%
HCL Technologies Limited	-	-	-	-	-	-	-	-	-	-	2.15%	2.10%	2.02%
Hindustan Unilever Ltd.	-	-	-	-	-	-	-	1.61%	1.68%	2.03%	1.81%	2.66%	2.72%
Bajaj Finance Ltd.	0.48%	0.49%	1.06%	1.03%	1.52%	1.57%	3.84%	4.17%	3.94%	2.79%	1.80%	1.75%	1.85%