What stocks does JM Value Fund (Direct) hold?

JM Value 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 Value Fund (Direct)?

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

What category is JM Value Fund (Direct)?

JM Value Fund (Direct) is classified as a Value/Contra mutual fund under SEBI's mutual fund categorisation framework.

How often is JM Value Fund (Direct) portfolio data updated?

Portfolio holdings for JM Value 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.

← JM Financial Mutual Fund

JM Value Fund (Direct) - Growth Option

Value/Contra Data as of Sep 2026 Comparing Aug 2026 → Sep 2026

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Stocks Held

Sep 2026

Equity Holdings

₹770.21 Cr

Equity only, excl. debt & cash

AAUM

₹753.52 Cr

Jul-Sep 2026 · Direct + Regular

Top 5 Weight

18.0%

Diversified

Top 10 Weight

30.3%

Diversified

Changes

4 new · 3 exits

Top Sector

Banks

11.3% of portfolio

Launch Date

25 Mar 1997

10+ year track record

AAUM (Average Assets Under Management) of ₹753.52 Cr for Jul-Sep 2026 is the combined figure across Direct and Regular plans — sourced from AMFI India's quarterly disclosure. Equity Holdings above shows only the stock portion from the latest portfolio filing.

📋 What Happened This Month JM Value Fund (Direct) made 4 new additions and exited 3 stocks this month. The biggest new buy was EPL Limited (Industrial Products) at 1.52% weight. Garden Reach Shipbuilders & Engineers Limited was the biggest exit (Aerospace & Defense), which was held at 0.91%. Among existing holdings, Spandana Sphoorty Financial Limited saw the biggest increase — now at 1.33% of the portfolio. Infosys Limited was trimmed the most, now at 2.43%. Redington Limited remains the top holding with Banks the dominant sector at 11.3%. ↓ Scroll down for full holdings, sector allocation and month-on-month changes in detail.

How Has the NAV Performed?

1 year history · JM Value Fund (Direct) - Growth Option

-8.93%

-5.44%

-4.12%

-9.59%

Latest NAV

₹100.05

23 Oct 2026

52W High

₹113.41

-12% from High

52W Low

₹90.97

+10% from Low

Calendar Year Returns

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

2025

-3.2%

2024

+26.7%

2023

+48.7%

2022

+6.1%

2021

+37.2%

2020

+14.1%

2019

+12.7%

2018

-10.6%

2017

+45.9%

Rolling Returns

Performance across every possible investment start date.

1Y Rolling Avg

19.9%

+ve in 75% windows

92.3% / -30.2%

3Y Rolling Avg

18.9% p.a.

+ve in 95% windows

37.1% / -6.2%

5Y Rolling Avg

19.6% p.a.

+ve in 100% windows

35.0% / 8.8%

Crisis Period Behaviour

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

2024–25 Tariff

-23.1%

Rec: not yet

COVID-19 Crash

-37.9%

Rec: Nov 2020 (11 mo)

2022 Rate Hike

-20.3%

Rec: Nov 2022 (8 mo)

2018 IL&FS

-17.0%

Rec: Oct 2019 (1yr 6mo)

Risk Ratios

3 years daily NAV · Risk-free rate 6.5% p.a. · CAGR, Sharpe Ratio & Standard Deviation — Mutual Fund Guide →

Sharpe Ratio (3Y)

0.16

Return per unit of risk. >1 is good.

Sortino Ratio (3Y)

0.21

Penalises downside volatility only.

Std Deviation (3Y)

17.3%

Lower = more consistent returns.

NAV Chart ₹100.05 23 Oct 2026

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

JM Value Fund (Direct) - Growth Option

Chart shows indexed performance (base = 100). Actual NAV: ₹100.05

Sector Shift Industry allocation month-over-month

Jul 2026 → Aug 2026

Sector	Prev	Curr ▼	Delta
Banks	14.0%	11.9%	▼ -2.0%
Finance	11.8%	10.2%	▼ -1.6%
Auto Components	5.8%	7.2%	▲ +1.4%
IT - Software	5.8%	5.8%	● 0.0%
Construction	6.2%	5.7%	▼ -0.4%
Electrical Equipment	5.3%	5.5%	▲ +0.2%
Commercial Services & Supplies	3.4%	4.4%	▲ +1.0%
Agricultural, Commercial & Construction Vehicles	3.8%	3.8%	● +0.0%
Leisure Services	3.1%	3.7%	▲ +0.7%
Textiles & Apparels	4.3%	3.5%	▼ -0.8%

Aug 2026 → Sep 2026

Sector	Prev	Curr ▼	Delta
Banks	11.9%	11.3%	▼ -0.6%
Finance	10.2%	10.7%	▲ +0.4%
Auto Components	7.2%	7.0%	▼ -0.2%
Construction	5.7%	5.6%	▼ -0.1%
Electrical Equipment	5.5%	5.2%	▼ -0.4%
IT - Software	5.8%	5.0%	▼ -0.9%
Commercial Services & Supplies	4.4%	4.7%	▲ +0.3%
Industrial Products	2.2%	3.9%	▲ +1.7%
Agricultural, Commercial & Construction Vehicles	3.8%	3.9%	▲ +0.1%
Leisure Services	3.7%	3.6%	▼ -0.1%

🟢

Biggest New Buy

EPL Limited

1.52% weight · Industrial Products

🔴

Biggest Exit

Garden Reach Shipbuilders & Engineers Limited

0.91% was held · Aerospace & Defense

↑

Biggest Add

Spandana Sphoorty Financial Limited

+0.65% · now 1.33%

↓

Biggest Trim

Infosys Limited

-0.69% · now 2.43%

🤝 Other funds also bought this month

Hero Motors Ltd 16 funds

Asset Reconstruction Co India Ltd. 14 funds

EPL Limited 12 funds

Varmora Granito Limited 8 funds

👋 Other funds also exited

Tata Motors Passenger Vehicles Limited 25 funds

PNC Infratech Limited 13 funds

Garden Reach Shipbuilders & Engineers Limited 6 funds

What Changed in the Portfolio This Month?

Comparing Aug 2026 → Sep 2026

Aug 2026 → Sep 2026

🟢 4 New Entries 🔴 3 Exits ↑ 27 Increased ↓ 40 Decreased

#	Stock	Sector	Weight (Sep 2026)
1	EPL Limited ₹11.85 Cr	Industrial Products	1.52%
2	Hero Motors Ltd ₹7.26 Cr	Automobile and Auto Components	0.93%
3	Asset Reconstruction Co India Ltd. ₹5.20 Cr	Finance	0.67%
4	Varmora Granito Limited ₹1.89 Cr	Consumer Durables	0.24%

#	Stock	Sector	Last Weight (Aug 2026)
1	Garden Reach Shipbuilders & Engineers Limited ₹7.44 Cr	Aerospace & Defense	0.91%
2	Tata Motors Passenger Vehicles Limited ₹6.18 Cr	Automobiles	0.76%
3	PNC Infratech Limited ₹99.13 L	Construction	0.12%

#	Stock	Sector	Aug 2026	Sep 2026	Change
1	Spandana Sphoorty Financial Limited ₹10.36 Cr	Finance	0.68%	1.33%	+0.65%
2	OPTIEMUS INFRACOM LIMITED ₹12.28 Cr	Telecom - Equipment & Accessories	1.12%	1.58%	+0.46%
3	West Coast Paper Mills Ltd. ₹5.64 Cr	Paper, Forest & Jute Products	0.26%	0.72%	+0.46%
4	Pine Labs Limited ₹16.26 Cr	Financial Technology (Fintech)	1.71%	2.09%	+0.38%
5	Redington Limited ₹36.63 Cr	Commercial Services & Supplies	4.36%	4.70%	+0.34%
6	SML Mahindra Limited ₹10.52 Cr	Agricultural, Commercial & Construction Vehicles	1.06%	1.35%	+0.29%
7	Finolex Cables Limited ₹10.27 Cr	Industrial Products	1.08%	1.32%	+0.24%
8	Lumino Industries Limited ₹4.15 Cr	Miscellaneous	0.31%	0.53%	+0.22%
9	PVR INOX Limited ₹9.69 Cr	Entertainment	1.10%	1.24%	+0.14%
10	Jyoti CNC Automation Ltd ₹13.04 Cr	Industrial Manufacturing	1.53%	1.67%	+0.14%
11	Rolex Rings Limited ₹11.22 Cr	Auto Components	1.30%	1.44%	+0.14%
12	HDFC Bank Limited ₹14.17 Cr	Banks	1.74%	1.82%	+0.08%
13	Titagarh Rail Systems Limited ₹11.71 Cr	Industrial Manufacturing	1.43%	1.50%	+0.07%
14	Power Mech Projects Limited ₹4.45 Cr	Construction	0.51%	0.57%	+0.06%
15	Suraksha Diagnostic Ltd ₹6.86 Cr	Healthcare Services	0.83%	0.88%	+0.05%
16	VA Tech Wabag Limited ₹4.10 Cr	Other Utilities	0.48%	0.53%	+0.05%
17	INDO COUNT INDUSTRIES LIMITED ₹13.81 Cr	Textiles & Apparels	1.72%	1.77%	+0.05%
18	Diamond Power Infrastructure Limited ₹6.24 Cr	Electrical Equipment	0.75%	0.80%	+0.05%
19	Bharti Airtel Limited ₹21.08 Cr	Telecom - Services	2.66%	2.70%	+0.04%
20	Kalpataru Projects International Limited ₹9.37 Cr	Construction	1.16%	1.20%	+0.04%
21	Power Grid Corporation of India Limited ₹7.03 Cr	Power	0.87%	0.90%	+0.03%
22	Arvind Limited ₹14.03 Cr	Textiles & Apparels	1.77%	1.80%	+0.03%
23	OnEMI Technology Solutions Limited ₹1.07 Cr	N.A.	0.11%	0.14%	+0.03%
24	Natco Pharma Limited ₹3.72 Cr	Pharmaceuticals & Biotechnology	0.46%	0.48%	+0.02%
25	Cohance Lifesciences Limited ₹7.66 Cr	Pharmaceuticals & Biotechnology	0.96%	0.98%	+0.02%
26	PARADEEP PHOSPHATES LIMITED ₹8.33 Cr	Fertilizers & Agrochemicals	1.06%	1.07%	+0.01%
27	Fedbank Financial Ser Ltd ₹4.67 Cr	Finance	0.59%	0.60%	+0.01%

#	Stock	Sector	Aug 2026	Sep 2026	Change
1	Infosys Limited ₹18.93 Cr	IT - Software	3.12%	2.43%	-0.69%
2	Shriram Finance Limited ₹26.53 Cr	Finance	4.07%	3.40%	-0.67%
3	NTPC Limited ₹4.84 Cr	Power	1.20%	0.62%	-0.58%
4	ICICI Bank Limited ₹29.47 Cr	Banks	4.09%	3.78%	-0.31%
5	Godfrey Phillips India Limited ₹16.66 Cr	Cigarettes & Tobacco Products	2.38%	2.14%	-0.24%
6	Hindustan Petroleum Corporation Limited ₹4.21 Cr	Petroleum Products	0.76%	0.54%	-0.22%
7	Carraro India Ltd ₹11.91 Cr	Auto Components	1.71%	1.53%	-0.18%
8	Tech Mahindra Limited ₹19.62 Cr	IT - Software	2.69%	2.52%	-0.17%
9	Tata Motors Ltd ₹19.88 Cr	Agricultural, Commercial & Construction Vehicles	2.72%	2.55%	-0.17%
10	Hindustan Aeronautics Limited ₹7.94 Cr	Aerospace & Defense	1.18%	1.02%	-0.16%
11	Canara Bank ₹2.21 Cr	Banks	0.44%	0.28%	-0.16%
12	Jana Small Finance Bank Ltd ₹19.86 Cr	Banks	2.70%	2.55%	-0.15%
13	Fujiyama Power Systems Limited ₹10.59 Cr	Electrical Equipment	1.50%	1.36%	-0.14%
14	Bharat Bijlee Ltd. ₹6.27 Cr	Electrical Equipment	0.93%	0.80%	-0.13%
15	Life Insurance Corporation Of India ₹14.62 Cr	Insurance	1.99%	1.88%	-0.11%
16	Amber Enterprises India Limited ₹9.01 Cr	Consumer Durables	1.26%	1.16%	-0.10%
17	JK Tyre & Industries Limited ₹17.63 Cr	Auto Components	2.36%	2.26%	-0.10%
18	Bajaj Auto Limited ₹10.98 Cr	Automobiles	1.50%	1.41%	-0.09%
19	CreditAccess Grameen Limited ₹12.73 Cr	Finance	1.72%	1.63%	-0.09%
20	TD Power Systems Limited ₹3.78 Cr	Electrical Equipment	0.57%	0.48%	-0.09%
21	Larsen & Toubro Limited ₹26.32 Cr	Construction	3.46%	3.38%	-0.08%
22	Housing & Urban Development Corporation Limited ₹10.52 Cr	Finance	1.43%	1.35%	-0.08%
23	Motilal Oswal Financial Services Limited ₹12.92 Cr	Capital Markets	1.72%	1.66%	-0.06%
24	Aptus Value Housing Finance India Limited ₹13.16 Cr	Finance	1.75%	1.69%	-0.06%
25	Craftsman Automation Limited ₹13.65 Cr	Auto Components	1.80%	1.75%	-0.05%
26	V-Guard Industries Limited ₹3.71 Cr	Consumer Durables	0.53%	0.48%	-0.05%
27	Travel Food Services Limited ₹10.99 Cr	Leisure Services	1.46%	1.41%	-0.05%
28	Restaurant Brands Asia Limited ₹17.38 Cr	Leisure Services	2.28%	2.23%	-0.05%
29	Jindal Saw Limited ₹8.61 Cr	Industrial Products	1.14%	1.10%	-0.04%
30	Horizon Industrial Parks Ltd. ₹4.09 Cr	Realty	0.57%	0.53%	-0.04%
31	Apar Industries Limited ₹8.17 Cr	Electrical Equipment	1.08%	1.05%	-0.03%
32	Equitas Small Finance Bank Limited ₹12.75 Cr	Banks	1.67%	1.64%	-0.03%
33	Container Corporation of India Limited ₹2.24 Cr	Transport Services	0.31%	0.29%	-0.02%
34	Credit Analysis And Research Ltd. ₹6.34 Cr	Capital Markets	0.83%	0.81%	-0.02%
35	Exicom Tele-Systems Ltd ₹5.27 Cr	Electrical Equipment	0.70%	0.68%	-0.02%
36	SBI Funds Management Limited ₹2.25 Cr	Capital Markets	0.31%	0.29%	-0.02%
37	Axis Bank Limited ₹9.81 Cr	Banks	1.27%	1.26%	-0.01%
38	Whirlpool of India Limited ₹4.90 Cr	Consumer Durables	0.64%	0.63%	-0.01%
39	M&B Engineering Ltd ₹3.76 Cr	Construction	0.49%	0.48%	-0.01%
40	Gaja Alternative AMC Limited ₹95.21 L	Capital Markets	0.13%	0.12%	-0.01%

What Stocks Does This Fund Hold?

74 stocks — Sep 2026

#	Stock	Sector	Weight & Value
1	Redington Limited ₹36.63 Cr	Commercial Services & Supplies	4.70%
2	ICICI Bank Limited ₹29.47 Cr	Banks	3.78%
3	Shriram Finance Limited ₹26.53 Cr	Finance	3.40%
4	Larsen & Toubro Limited ₹26.32 Cr	Construction	3.38%
5	Bharti Airtel Limited ₹21.08 Cr	Telecom - Services	2.70%
6	Tata Motors Ltd ₹19.88 Cr	Agricultural, Commercial & Construction Vehicles	2.55%
7	Jana Small Finance Bank Ltd ₹19.86 Cr	Banks	2.55%
8	Tech Mahindra Limited ₹19.62 Cr	IT - Software	2.52%
9	Infosys Limited ₹18.93 Cr	IT - Software	2.43%
10	JK Tyre & Industries Limited ₹17.63 Cr	Auto Components	2.26%
11	Restaurant Brands Asia Limited ₹17.38 Cr	Leisure Services	2.23%
12	Godfrey Phillips India Limited ₹16.66 Cr	Cigarettes & Tobacco Products	2.14%
13	Pine Labs Limited ₹16.26 Cr	Financial Technology (Fintech)	2.09%
14	Life Insurance Corporation Of India ₹14.62 Cr	Insurance	1.88%
15	HDFC Bank Limited ₹14.17 Cr	Banks	1.82%
16	Arvind Limited ₹14.03 Cr	Textiles & Apparels	1.80%
17	INDO COUNT INDUSTRIES LIMITED ₹13.81 Cr	Textiles & Apparels	1.77%
18	Craftsman Automation Limited ₹13.65 Cr	Auto Components	1.75%
19	Aptus Value Housing Finance India Limited ₹13.16 Cr	Finance	1.69%
20	Jyoti CNC Automation Ltd ₹13.04 Cr	Industrial Manufacturing	1.67%
21	Motilal Oswal Financial Services Limited ₹12.92 Cr	Capital Markets	1.66%
22	Equitas Small Finance Bank Limited ₹12.75 Cr	Banks	1.64%
23	CreditAccess Grameen Limited ₹12.73 Cr	Finance	1.63%
24	OPTIEMUS INFRACOM LIMITED ₹12.28 Cr	Telecom - Equipment & Accessories	1.58%
25	Carraro India Ltd ₹11.91 Cr	Auto Components	1.53%
26	EPL Limited ₹11.85 Cr	Industrial Products	1.52%
27	Titagarh Rail Systems Limited ₹11.71 Cr	Industrial Manufacturing	1.50%
28	Cipla Limited ₹11.44 Cr	Pharmaceuticals & Biotechnology	1.47%
29	Rolex Rings Limited ₹11.22 Cr	Auto Components	1.44%
30	Bajaj Auto Limited ₹10.98 Cr	Automobiles	1.41%
31	Travel Food Services Limited ₹10.99 Cr	Leisure Services	1.41%
32	Fujiyama Power Systems Limited ₹10.59 Cr	Electrical Equipment	1.36%
33	SML Mahindra Limited ₹10.52 Cr	Agricultural, Commercial & Construction Vehicles	1.35%
34	Housing & Urban Development Corporation Limited ₹10.52 Cr	Finance	1.35%
35	Spandana Sphoorty Financial Limited ₹10.36 Cr	Finance	1.33%
36	Finolex Cables Limited ₹10.27 Cr	Industrial Products	1.32%
37	Axis Bank Limited ₹9.81 Cr	Banks	1.26%
38	PVR INOX Limited ₹9.69 Cr	Entertainment	1.24%
39	Kalpataru Projects International Limited ₹9.37 Cr	Construction	1.20%
40	Amber Enterprises India Limited ₹9.01 Cr	Consumer Durables	1.16%
41	Jindal Saw Limited ₹8.61 Cr	Industrial Products	1.10%
42	PARADEEP PHOSPHATES LIMITED ₹8.33 Cr	Fertilizers & Agrochemicals	1.07%
43	Apar Industries Limited ₹8.17 Cr	Electrical Equipment	1.05%
44	Hindustan Aeronautics Limited ₹7.94 Cr	Aerospace & Defense	1.02%
45	Cohance Lifesciences Limited ₹7.66 Cr	Pharmaceuticals & Biotechnology	0.98%
46	Hero Motors Ltd ₹7.26 Cr	Automobile and Auto Components	0.93%
47	Power Grid Corporation of India Limited ₹7.03 Cr	Power	0.90%
48	Hindustan Zinc Limited ₹6.95 Cr	Non - Ferrous Metals	0.89%
49	Suraksha Diagnostic Ltd ₹6.86 Cr	Healthcare Services	0.88%
50	Credit Analysis And Research Ltd. ₹6.34 Cr	Capital Markets	0.81%
51	Bharat Bijlee Ltd. ₹6.27 Cr	Electrical Equipment	0.80%
52	Diamond Power Infrastructure Limited ₹6.24 Cr	Electrical Equipment	0.80%
53	West Coast Paper Mills Ltd. ₹5.64 Cr	Paper, Forest & Jute Products	0.72%
54	Exicom Tele-Systems Ltd ₹5.27 Cr	Electrical Equipment	0.68%
55	Asset Reconstruction Co India Ltd. ₹5.20 Cr	Finance	0.67%
56	Whirlpool of India Limited ₹4.90 Cr	Consumer Durables	0.63%
57	NTPC Limited ₹4.84 Cr	Power	0.62%
58	Fedbank Financial Ser Ltd ₹4.67 Cr	Finance	0.60%
59	Power Mech Projects Limited ₹4.45 Cr	Construction	0.57%
60	Hindustan Petroleum Corporation Limited ₹4.21 Cr	Petroleum Products	0.54%
61	Horizon Industrial Parks Ltd. ₹4.09 Cr	Realty	0.53%
62	Lumino Industries Limited ₹4.15 Cr	Miscellaneous	0.53%
63	VA Tech Wabag Limited ₹4.10 Cr	Other Utilities	0.53%
64	V-Guard Industries Limited ₹3.71 Cr	Consumer Durables	0.48%
65	Natco Pharma Limited ₹3.72 Cr	Pharmaceuticals & Biotechnology	0.48%
66	TD Power Systems Limited ₹3.78 Cr	Electrical Equipment	0.48%
67	M&B Engineering Ltd ₹3.76 Cr	Construction	0.48%
68	SBI Funds Management Limited ₹2.25 Cr	Capital Markets	0.29%
69	Container Corporation of India Limited ₹2.24 Cr	Transport Services	0.29%
70	Canara Bank ₹2.21 Cr	Banks	0.28%
71	Varmora Granito Limited ₹1.89 Cr	Consumer Durables	0.24%
72	Dhanuka Agritech Limited ₹1.76 Cr	Fertilizers & Agrochemicals	0.23%
73	OnEMI Technology Solutions Limited ₹1.07 Cr	N.A.	0.14%
74	Gaja Alternative AMC Limited ₹95.21 L	Capital Markets	0.12%