Motilal Oswal Midcap Fund's latest portfolio for May 2025 has been released, and it offers several key insights into the fund's allocation strategy, stock-level activity, and risk management positioning. Below is a comprehensive summary of all notable movements and statistics.
Top Holdings (by % of AUM):
The fund's top three equity holdings based on percentage of Assets Under Management (% of AUM) are:
Coforge Limited – 6.12%
Persistent Systems Limited – 4.94%
Kalyan Jewellers India Limited – 4.30%
These holdings indicate strong conviction in technology and retail sectors, with a continued focus on scalable midcap businesses.
New Entry:
Eternal Limited (Zomato): The fund re-entered this counter with a holding of 4,00,000 shares in May. This is a fresh allocation, as there was zero holding in April. This move signals renewed interest in the food delivery and quick commerce space. The position forms 0.03% of the fund’s AUM.
Top Increases in Holdings:
Dixon Technologies (India) Limited: Increased from 7,35,200 to 8,35,200 shares, a 13.60% rise. % of AUM now stands at 4.04%.
One 97 Communications Limited (Paytm): Marginal increase of 4.14% from 1,23,88,600 to 1,29,00,814 shares. % of AUM is now 3.78%.
Bharti Hexacom Limited: Up 3.85% to 6,75,000 shares. AUM weight: 4.06%.
KEI Industries Limited: Slight increase of 1.85%, now at 27,50,000 shares. AUM weight: 3.27%.
Trent Limited: Marginal increase to 21,43,194 shares (up 0.35%). AUM weight: 3.98%.
Unchanged Holdings (0% Change):
Several holdings remained unchanged month-on-month:
Balkrishna Industries Limited – 16,23,409 shares (3.23% of AUM)
Max Healthcare Institute Limited – 99,69,361 shares (3.08%)
The Phoenix Mills Limited – 17,50,000 shares (2.65%)
Supreme Industries Limited – 6,47,558 shares (2.62%)
Prestige Estates Projects Limited – 40,00,000 shares (1.93%)
Polycab India Limited – 25,00,000 shares (4.93%)
Mazagon Dock Shipbuilders Limited – 16,00,000 shares (1.64%)
KPIT Technologies Limited – 49,95,940 shares (2.91%)
Jio Financial Services Limited – 1,00,000 shares (0.06%)
Jindal Steel & Power Limited – 6,41,830 shares (2.27%)
Hitachi Energy India Limited – 4,50,000 shares (2.22%)
Coforge Limited – 3,60,000 shares (6.12%)
CG Power and Industrial Solutions Limited – 1,00,775 shares (0.28%)
Voltas Limited – 15,81,760 shares (2.09%)
Reduction in Holdings:
Indraprastha Gas Limited: Reduced significantly by 30.06%, from 50,68,705 to 35,45,300 shares. % of AUM dropped to 1.16%.
The Indian Hotels Company Limited: Slight reduction of 0.26%, now at 20,99,900 shares. AUM weight: 2.01%.
Other Holdings and Weightage:
Persistent Systems Limited – 5,25,000 shares (4.94%)
Mankind Pharma Limited – unchanged at 91,889 shares (0.75%)
Kalyan Jewellers India Limited – unchanged at 43,49,250 shares (4.30%)
Arbitrage and Cash Position:
As of May 2025, 5.99% of the equity portfolio is hedged using arbitrage strategies.
The overall cash position (including arbitrage exposure) stood at 37.17% in May. This is slightly lower than April's 39.66%, but higher than March’s 32.88%. This trend shows a gradual deployment of cash into the equity market while maintaining a defensive cushion.
The May update of Motilal Oswal Midcap Fund reflects both conviction and caution. The re-entry into Eternal (Zomato) suggests tactical moves to capture emerging opportunities. Meanwhile, the fund maintained or slightly increased its exposure in high-conviction bets like Dixon, Paytm, and Bharti Hexacom.
At the same time, reductions like that in Indraprastha Gas and the continued high cash (and arbitrage) exposure show a balanced strategy focused on capital protection and selective risk-taking.
This portfolio showcases a mix of long-term core holdings and tactical short-term adjustments, making it an actively managed and closely watched fund in the Indian midcap space.
Disclaimer:
The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. The portfolio data and stock holdings are based on publicly available disclosures from the Motilal Oswal Midcap Fund as of May 2025. Readers are advised to conduct their own research or consult with a qualified financial advisor before making any investment decisions. The author and the platform do not take responsibility for any financial losses or gains resulting from the use of this information.
