What stocks does JM ELSS Tax Saver Fund (Direct) hold?

JM ELSS Tax Saver Fund (Direct) holds a portfolio of Indian equity stocks disclosed monthly by JM Financial Mutual Fund to AMFI. The complete current holdings with weights and month-over-month changes are available on this page. Data is sourced from official AMFI portfolio disclosures.

Which AMC manages JM ELSS Tax Saver Fund (Direct)?

JM ELSS Tax Saver Fund (Direct) is managed by JM Financial Mutual Fund, a SEBI-registered Asset Management Company in India.

What category is JM ELSS Tax Saver Fund (Direct)?

JM ELSS Tax Saver Fund (Direct) is classified as a ELSS mutual fund under SEBI's mutual fund categorisation framework.

How often is JM ELSS Tax Saver Fund (Direct) portfolio data updated?

Portfolio holdings for JM ELSS Tax Saver Fund (Direct) are updated monthly. SEBI mandates all AMCs to disclose their complete portfolio within 10 days of each month end. RightAdvise sources this data directly from official AMFI portfolio disclosures.

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JM ELSS Tax Saver Fund (Direct) - Growth Option

ELSS Data as of May 2026 Comparing Apr 2026 → May 2026

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Stocks Held

May 2026

Equity Holdings

₹216.80 Cr

Equity only, excl. debt & cash

Top 5 Weight

14.8%

Diversified

Top 10 Weight

27.9%

Diversified

Changes

1 new · 2 exits

Top Sector

Banks

12.2% of portfolio

📋 What Happened This Month JM ELSS Tax Saver Fund (Direct) made 1 new addition and exited 2 stocks this month. The biggest new buy was Nuvama Wealth Management Limited (Capital Markets) at 0.93% weight. ICICI Prudential Asset Management Company Limited was the biggest exit (Capital Markets), which was held at 1.65%. Among existing holdings, One 97 Communications Limited saw the biggest increase — now at 2.38% of the portfolio. Reliance Industries Limited was trimmed the most, now at 3.16%. HDFC Bank Limited remains the top holding with Banks the dominant sector at 12.2%. ↓ Scroll down for full holdings, sector allocation and month-on-month changes in detail.

How Has the NAV Performed?

1 year history · JM ELSS Tax Saver Fund (Direct) - Growth Option

+3.50%

+15.78%

+0.35%

+4.73%

Latest NAV

₹57.63

24 Jun 2026

52W High

₹58.46

-1% from High

52W Low

₹47.50

+21% from Low

Calendar Year Returns

Jan 1 to Dec 31 each year. Simple point-to-point — not CAGR.

2025

+3.8%

2024

+30.6%

2023

+32.2%

2022

+1.5%

2021

+33.2%

2020

+19.2%

2019

+15.8%

2018

-3.9%

2017

+44.1%

Rolling Returns

Performance across every possible investment start date.

1Y Rolling Avg

19.8%

+ve in 82% windows

92.3% / -26.6%

3Y Rolling Avg

18.3% p.a.

+ve in 99% windows

34.5% / -2.6%

5Y Rolling Avg

19.3% p.a.

+ve in 100% windows

31.8% / 10.9%

Crisis Period Behaviour

"Pre-inception" = fund didn't exist during that period.

2024–25 Tariff

-20.7%

Rec: not yet

COVID-19 Crash

-37.4%

Rec: Nov 2020 (11 mo)

2022 Rate Hike

-20.4%

Rec: May 2023 (1yr 4mo)

2018 IL&FS

-17.5%

Rec: May 2019 (10 mo)

Risk Ratios

3 years daily NAV · Risk-free rate 6.5% p.a. What do these mean? →

Sharpe Ratio (3Y)

0.84

Return per unit of risk. >1 is good.

Sortino Ratio (3Y)

1.14

Penalises downside volatility only.

Std Deviation (3Y)

15.9%

Lower = more consistent returns.

NAV Chart ₹57.63 24 Jun 2026

Simple Moving Avg: Click to draw · click again to remove

JM ELSS Tax Saver Fund (Direct) - Growth Option

Chart shows indexed performance (base = 100). Actual NAV: ₹57.63

Sector Shift Industry allocation month-over-month

Mar 2026 → Apr 2026

Sector	Prev	Curr ▼	Delta
Banks	13.6%	12.8%	▼ -0.8%
Finance	8.4%	10.7%	▲ +2.3%
Automobiles	6.0%	5.8%	▼ -0.2%
IT - Software	6.2%	5.8%	▼ -0.4%
Pharmaceuticals & Biotechnology	6.4%	4.8%	▼ -1.6%
Construction	5.1%	4.5%	▼ -0.6%
Leisure Services	4.6%	4.3%	▼ -0.3%
Industrial Products	5.1%	3.9%	▼ -1.2%
Industrial Manufacturing	3.3%	3.8%	▲ +0.4%
Capital Markets	3.3%	3.7%	▲ +0.5%

Apr 2026 → May 2026

Sector	Prev	Curr ▼	Delta
Banks	12.8%	12.2%	▼ -0.6%
Finance	10.7%	10.3%	▼ -0.4%
IT - Software	5.8%	6.0%	▲ +0.2%
Automobiles	5.8%	5.8%	● -0.1%
Pharmaceuticals & Biotechnology	4.8%	4.6%	▼ -0.2%
Industrial Products	3.9%	4.5%	▲ +0.6%
Industrial Manufacturing	3.8%	4.4%	▲ +0.6%
Construction	4.5%	4.2%	▼ -0.2%
Leisure Services	4.3%	3.9%	▼ -0.3%
Capital Markets	3.7%	3.3%	▼ -0.5%

🟢

Biggest New Buy

Nuvama Wealth Management Limited

0.93% weight · Capital Markets

🔴

Biggest Exit

ICICI Prudential Asset Management Company Limited

1.65% was held · Capital Markets

↑

Biggest Add

One 97 Communications Limited

+0.47% · now 2.38%

↓

Biggest Trim

Reliance Industries Limited

-0.32% · now 3.16%

🤝 Other funds also bought this month

Nuvama Wealth Management Limited 8 funds

👋 Other funds also exited

ICICI Prudential Asset Management Company Limited 6 funds

Northern Arc Capital Ltd 2 funds

What Changed in the Portfolio This Month?

Comparing Apr 2026 → May 2026

Apr 2026 → May 2026

🟢 1 New Entry 🔴 2 Exits ↑ 23 Increased ↓ 24 Decreased

#	Stock	Sector	Weight (May 2026)
1	Nuvama Wealth Management Limited ₹2.07 Cr	Capital Markets	0.93%

#	Stock	Sector	Last Weight (Apr 2026)
1	ICICI Prudential Asset Management Company Limited ₹3.62 Cr	Capital Markets	1.65%
2	Northern Arc Capital Ltd ₹2.74 Cr	Finance	1.25%

#	Stock	Sector	Apr 2026	May 2026	Change
1	One 97 Communications Limited ₹5.30 Cr	Financial Technology (Fintech)	1.91%	2.38%	+0.47%
2	Shriram Finance Limited ₹3.92 Cr	Finance	1.32%	1.76%	+0.44%
3	Polycab India Limited ₹5.59 Cr	Industrial Products	2.18%	2.51%	+0.33%
4	Titagarh Rail Systems Limited ₹3.34 Cr	Industrial Manufacturing	1.18%	1.50%	+0.32%
5	Syrma SGS Technology Limited ₹6.47 Cr	Industrial Manufacturing	2.60%	2.90%	+0.30%
6	Shaily Engineering Plastics Ltd ₹4.44 Cr	Industrial Products	1.71%	1.99%	+0.28%
7	BSE Limited ₹5.18 Cr	Capital Markets	2.07%	2.32%	+0.25%
8	Bosch Limited ₹3.66 Cr	Auto Components	1.39%	1.64%	+0.25%
9	Adani Power Limited ₹6.06 Cr	Power	2.52%	2.72%	+0.20%
10	Coforge Limited ₹3.13 Cr	IT - Software	1.20%	1.40%	+0.20%
11	Wework India Management Limited ₹5.02 Cr	Commercial Services & Supplies	2.08%	2.25%	+0.17%
12	Bajaj Finance Limited ₹4.41 Cr	Finance	1.83%	1.98%	+0.15%
13	Mahindra & Mahindra Financial Services Limited ₹4.34 Cr	Finance	1.80%	1.95%	+0.15%
14	Manappuram Finance Limited ₹4.04 Cr	Finance	1.67%	1.81%	+0.14%
15	Hindalco Industries Limited ₹3.38 Cr	Non - Ferrous Metals	1.42%	1.52%	+0.10%
16	Persistent Systems Limited ₹3.12 Cr	IT - Software	1.31%	1.40%	+0.09%
17	CarTrade Tech Limited ₹3.58 Cr	Retailing	1.53%	1.61%	+0.08%
18	Spandana Sphoorty Financial Limited ₹2.14 Cr	Finance	0.88%	0.96%	+0.08%
19	Bajaj Auto Limited ₹5.02 Cr	Automobiles	2.18%	2.25%	+0.07%
20	Max Financial Services Limited ₹4.42 Cr	Insurance	1.91%	1.98%	+0.07%
21	Apar Industries Limited ₹3.44 Cr	Electrical Equipment	1.47%	1.54%	+0.07%
22	The India Cements Limited ₹3.18 Cr	Cement & Cement Products	1.36%	1.42%	+0.06%
23	Navin Fluorine International Limited ₹3.42 Cr	Chemicals & Petrochemicals	1.49%	1.53%	+0.04%

#	Stock	Sector	Apr 2026	May 2026	Change
1	Reliance Industries Limited ₹7.06 Cr	Petroleum Products	3.48%	3.16%	-0.32%
2	State Bank of India ₹3.91 Cr	Banks	1.97%	1.75%	-0.22%
3	Jubilant Foodworks Limited ₹3.66 Cr	Leisure Services	1.86%	1.64%	-0.22%
4	Sanathan Textiles Limited ₹3.96 Cr	Textiles & Apparels	1.99%	1.78%	-0.21%
5	KEC International Limited ₹3.37 Cr	Construction	1.72%	1.51%	-0.21%
6	HDFC Bank Limited ₹7.32 Cr	Banks	3.45%	3.28%	-0.17%
7	Onesource Specialty Pharma Limited ₹4.57 Cr	Pharmaceuticals & Biotechnology	2.20%	2.05%	-0.15%
8	Bharti Airtel Limited ₹6.03 Cr	Telecom - Services	2.83%	2.70%	-0.13%
9	United Spirits Limited ₹4.71 Cr	Beverages	2.24%	2.11%	-0.13%
10	Travel Food Services Limited ₹5.09 Cr	Leisure Services	2.39%	2.29%	-0.10%
11	Max Healthcare Institute Limited ₹4.82 Cr	Healthcare Services	2.26%	2.16%	-0.10%
12	Karur Vysya Bank Limited ₹5.75 Cr	Banks	2.66%	2.58%	-0.08%
13	Lupin Limited ₹5.67 Cr	Pharmaceuticals & Biotechnology	2.62%	2.54%	-0.08%
14	Maruti Suzuki India Limited ₹4.73 Cr	Automobiles	2.19%	2.12%	-0.07%
15	CEAT Limited ₹2.13 Cr	Auto Components	1.03%	0.96%	-0.07%
16	ICICI Bank Limited ₹6.09 Cr	Banks	2.79%	2.73%	-0.06%
17	Jindal Steel Limited ₹4.83 Cr	Ferrous Metals	2.23%	2.17%	-0.06%
18	PNB Housing Finance Limited ₹4.19 Cr	Finance	1.94%	1.88%	-0.06%
19	Prestige Estates Projects Limited ₹2.79 Cr	Realty	1.31%	1.25%	-0.06%
20	Infosys Limited ₹3.17 Cr	IT - Software	1.47%	1.42%	-0.05%
21	Mahindra & Mahindra Limited ₹3.10 Cr	Automobiles	1.44%	1.39%	-0.05%
22	Kotak Mahindra Bank Limited ₹4.17 Cr	Banks	1.89%	1.87%	-0.02%
23	Tech Mahindra Limited ₹4.04 Cr	IT - Software	1.83%	1.81%	-0.02%
24	Eternal Limited ₹3.51 Cr	Retailing	1.58%	1.57%	-0.01%

What Stocks Does This Fund Hold?

50 stocks — May 2026

#	Stock	Sector	Weight & Value
1	HDFC Bank Limited ₹7.32 Cr	Banks	3.28%
2	Reliance Industries Limited ₹7.06 Cr	Petroleum Products	3.16%
3	Syrma SGS Technology Limited ₹6.47 Cr	Industrial Manufacturing	2.90%
4	ICICI Bank Limited ₹6.09 Cr	Banks	2.73%
5	Larsen & Toubro Limited ₹6.09 Cr	Construction	2.73%
6	Adani Power Limited ₹6.06 Cr	Power	2.72%
7	Bharti Airtel Limited ₹6.03 Cr	Telecom - Services	2.70%
8	Karur Vysya Bank Limited ₹5.75 Cr	Banks	2.58%
9	Lupin Limited ₹5.67 Cr	Pharmaceuticals & Biotechnology	2.54%
10	Polycab India Limited ₹5.59 Cr	Industrial Products	2.51%
11	One 97 Communications Limited ₹5.30 Cr	Financial Technology (Fintech)	2.38%
12	BSE Limited ₹5.18 Cr	Capital Markets	2.32%
13	Travel Food Services Limited ₹5.09 Cr	Leisure Services	2.29%
14	Bajaj Auto Limited ₹5.02 Cr	Automobiles	2.25%
15	Wework India Management Limited ₹5.02 Cr	Commercial Services & Supplies	2.25%
16	Jindal Steel Limited ₹4.83 Cr	Ferrous Metals	2.17%
17	Max Healthcare Institute Limited ₹4.82 Cr	Healthcare Services	2.16%
18	Maruti Suzuki India Limited ₹4.73 Cr	Automobiles	2.12%
19	United Spirits Limited ₹4.71 Cr	Beverages	2.11%
20	Onesource Specialty Pharma Limited ₹4.57 Cr	Pharmaceuticals & Biotechnology	2.05%
21	Shaily Engineering Plastics Ltd ₹4.44 Cr	Industrial Products	1.99%
22	Max Financial Services Limited ₹4.42 Cr	Insurance	1.98%
23	Bajaj Finance Limited ₹4.41 Cr	Finance	1.98%
24	Mahindra & Mahindra Financial Services Limited ₹4.34 Cr	Finance	1.95%
25	PNB Housing Finance Limited ₹4.19 Cr	Finance	1.88%
26	Kotak Mahindra Bank Limited ₹4.17 Cr	Banks	1.87%
27	Tech Mahindra Limited ₹4.04 Cr	IT - Software	1.81%
28	Manappuram Finance Limited ₹4.04 Cr	Finance	1.81%
29	Sanathan Textiles Limited ₹3.96 Cr	Textiles & Apparels	1.78%
30	Shriram Finance Limited ₹3.92 Cr	Finance	1.76%
31	State Bank of India ₹3.91 Cr	Banks	1.75%
32	Bosch Limited ₹3.66 Cr	Auto Components	1.64%
33	Jubilant Foodworks Limited ₹3.66 Cr	Leisure Services	1.64%
34	CarTrade Tech Limited ₹3.58 Cr	Retailing	1.61%
35	Eternal Limited ₹3.51 Cr	Retailing	1.57%
36	Apar Industries Limited ₹3.44 Cr	Electrical Equipment	1.54%
37	Navin Fluorine International Limited ₹3.42 Cr	Chemicals & Petrochemicals	1.53%
38	Hindalco Industries Limited ₹3.38 Cr	Non - Ferrous Metals	1.52%
39	Godfrey Phillips India Limited ₹3.39 Cr	Cigarettes & Tobacco Products	1.52%
40	KEC International Limited ₹3.37 Cr	Construction	1.51%
41	Titagarh Rail Systems Limited ₹3.34 Cr	Industrial Manufacturing	1.50%
42	The India Cements Limited ₹3.18 Cr	Cement & Cement Products	1.42%
43	Infosys Limited ₹3.17 Cr	IT - Software	1.42%
44	Coforge Limited ₹3.13 Cr	IT - Software	1.40%
45	Persistent Systems Limited ₹3.12 Cr	IT - Software	1.40%
46	Mahindra & Mahindra Limited ₹3.10 Cr	Automobiles	1.39%
47	Prestige Estates Projects Limited ₹2.79 Cr	Realty	1.25%
48	Spandana Sphoorty Financial Limited ₹2.14 Cr	Finance	0.96%
49	CEAT Limited ₹2.13 Cr	Auto Components	0.96%
50	Nuvama Wealth Management Limited ₹2.07 Cr	Capital Markets	0.93%