Market veteran Madhusudan Kela is closely followed by investors for his stock picks. A former Reliance Capital chief strategist who now runs Mkventures Capital, Kela is known for holding a concentrated portfolio of small- and mid-cap names, which makes his quarterly disclosures a reference point for readers tracking seasoned investors' positioning. According to Trendlyne data, he publicly holds around 19 stocks with a combined value of nearly Rs 2,568 crore. The following is a look at his top five holdings and how they performed in August. It is worth noting that these holdings span sectors from financial services to textiles and capital goods, and that many are mid- or small-cap stocks where price moves tend to be sharper than in large caps; quarterly shareholding updates on NSE and BSE remain the primary source for tracking any changes.

Choice International

Kela held more than 160 lakh shares, equal to a 7.2% stake, in broking firm Choice International at the end of the April-June quarter of FY27, according to NSE shareholding data. At the previous close of Rs 774.70, the holding was valued at around Rs 1,244 crore, making it his single largest disclosed position. The stock fell more than 7% in August and 9% in 2026 so far. Over three years, however, it has delivered 302% returns. The company has a market capitalisation of more than Rs 17,000 crore.

Mkventures Capital

In financing and investment company Mkventures Capital, Kela held nearly 29 lakh shares, or a 74% stake, at the end of the April-June quarter, according to BSE data. At Rs 1,040 per share, the holding was worth around Rs 297 crore. The stock dropped more than 3% in August and 4% in 2026 so far. It has declined 32% over one year but surged 2,619% over five years. The company's market capitalisation stands at more than Rs 392 crore.

Windsor Machines

Kela held more than 65 lakh shares, or a 6.4% stake, in plastic processing machinery maker Windsor Machines at the end of the April-June quarter, according to NSE data. At Rs 307.50, the holding was worth more than Rs 200 crore. The stock gained nearly 9% in August and 15% in 2026 so far, making it the only one among his top five holdings to rise in the month. While it has declined 5% over one year, it has gained 378% over three years and 927% over five years. The company has a market capitalisation of more than Rs 3,166 crore.

Sangam (India)

Kela's family held more than 24 lakh shares, or a 4.86% stake, in Sangam (India) at the end of the April-June quarter, according to NSE data. Sangam (India) is a textile maker with business spanning yarn, fabric and garments. At Rs 586.65, the holding was valued at more than Rs 143 crore. The stock fell nearly 2% in August but has gained 16% in 2026 so far. It has returned 53% over one year, 65% over three years, and 318% over five years. The company's market capitalisation is more than Rs 2,866 crore.

Indiabulls

Kela's family held around 516 lakh shares, or a 2% stake, in Indiabulls at the end of the April-June quarter, according to NSE data. At Rs 25.44, the holding was worth more than Rs 131 crore. The stock fell nearly 4% in the past week and more than 5% in the past month, but has rallied 52% in 2026 so far. It has returned 45% over one year and 124% over three years.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)