Aditya Birla Sun Life Value 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.

Category : Value Fund

Fund House : Aditya Birla Sun Life Mutual Fund

Portfolio Turnover Ratio : 72.00%. Category average turnover ratio is 109.60%. 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 : 97.72% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 97.72%

No of Stocks : 73 (Category Avg - 60.14) | Large Cap Investments : 38.36%| Mid Cap Investments : 18.66% | Small Cap Investments : 25.53% | Other : 15.21%

Portfolio Summary (as on 30th Nov,2025)

Particulars	This Scheme	Category
No. of Stocks	73	59.29
Top 5 Stock Weight	17.9%	25.05%
Top 10 Stock Weight	31.21%	39.95%
Top 3 Sector Weight	29.1%	32.95%

Category - Value Fund

Particulars	This Scheme	Category
Average mcap (Cr)	87668.17	110498.13
Holdings in large cap stocks	38.36%	44.52%
Holdings in mid cap stocks	18.66%	12.26%
Holdings in small cap stocks	25.53%	13.75%

Category - Value Fund

Top 10 Stocks holding in Portfolio (as on 30th Nov,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity
Reliance Industries Ltd.	Refineries & marketing	2566.8	4.04%	0.17%	4.04% (Nov 2025)	2.67% (Dec 2024)	16.38 L
Infosys Ltd.	Computers - software & consulting	2496.2	3.92%	0.16%	4.15% (Aug 2025)	2.38% (Mar 2025)	16.00 L
Shriram Finance Ltd.	Non banking financial company (nbfc)	2422	3.81%	0.43%	3.81% (Nov 2025)	2.31% (Dec 2024)	28.44 L
Tech Mahindra Ltd.	Computers - software & consulting	1984.2	3.12%	0.16%	3.49% (Aug 2025)	2.95% (Oct 2025)	13.08 L
Axis Bank Ltd.	Private sector bank	1917.5	3.01%	0.08%	3.35% (Apr 2025)	1.95% (Jan 2025)	14.98 L
Minda Corporation Ltd.	Auto components & equipments	1840	2.89%	0.06%	3.65% (Jan 2025)	2.57% (Jun 2025)	31.66 L
Multi Commodity Exchange Of India Ltd.	Exchange and data platform	1787.9	2.81%	0.21%	2.81% (Nov 2025)	1.8% (Mar 2025)	1.77 L
National Thermal Power Corporation Ltd.	Power generation	1767.4	2.78%	-0.12%	3.22% (Apr 2025)	2.78% (Nov 2025)	54.14 L
Welspun Corp Ltd.	Iron & steel products	1718.8	2.70%	-0.37%	3.24% (Mar 2025)	2.7% (Nov 2025)	20.07 L
Granules India Ltd.	Pharmaceuticals	1357.6	2.13%	-0.06%	2.4% (Dec 2024)	2.07% (Jun 2025)	24.41 L

- indicates change in weight in the portfolio. # indicates a new entry.

View complete holding

Complete equity Portfolio (as on 30th Nov,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
Reliance Industries Ltd.	Refineries & marketing	4.78	2566.8	4.04%	0.17%	4.04% (Nov 2025)	2.67% (Dec 2024)	16.38 L	0.00	Large Cap	38.36
Infosys Ltd.	Computers - software & consulting	10.95	2496.2	3.92%	0.16%	4.15% (Aug 2025)	2.38% (Mar 2025)	16.00 L	0.00	Large Cap	38.36
Shriram Finance Ltd.	Non banking financial company (nbfc)	3.81	2422	3.81%	0.43%	3.81% (Nov 2025)	2.31% (Dec 2024)	28.44 L	0.00	Other	15.21
Tech Mahindra Ltd.	Computers - software & consulting	10.95	1984.2	3.12%	0.16%	3.49% (Aug 2025)	2.95% (Oct 2025)	13.08 L	0.00	Large Cap	38.36
Axis Bank Ltd.	Private sector bank	10.64	1917.5	3.01%	0.08%	3.35% (Apr 2025)	1.95% (Jan 2025)	14.98 L	0.00	Large Cap	38.36
Minda Corporation Ltd.	Auto components & equipments	7.51	1840	2.89%	0.06%	3.65% (Jan 2025)	2.57% (Jun 2025)	31.66 L	0.00	Small Cap	25.53
Multi Commodity Exchange Of India Ltd.	Exchange and data platform	2.81	1787.9	2.81%	0.21%	2.81% (Nov 2025)	1.8% (Mar 2025)	1.77 L	0.00	Small Cap	25.53
National Thermal Power Corporation Ltd.	Power generation	2.78	1767.4	2.78%	-0.12%	3.22% (Apr 2025)	2.78% (Nov 2025)	54.14 L	0.00	Large Cap	38.36
Welspun Corp Ltd.	Iron & steel products	4.47	1718.8	2.70%	-0.37%	3.24% (Mar 2025)	2.7% (Nov 2025)	20.07 L	0.00	Small Cap	25.53
Granules India Ltd.	Pharmaceuticals	6.07	1357.6	2.13%	-0.06%	2.4% (Dec 2024)	2.07% (Jun 2025)	24.41 L	0.00	Small Cap	25.53
Vedanta Ltd.	Diversified metals	2.09	1332.2	2.09%	0.11%	2.09% (Nov 2025)	1.51% (May 2025)	25.33 L	0.00	Large Cap	38.36
Apollo Hospitals Enterprises Ltd.	Hospital	2.07	1317.6	2.07%	0.37%	2.07% (Nov 2025)	0% (Dec 2024)	1.80 L	39.62 k	Mid Cap	18.66
Adani Ports And Special Economic Zone Ltd.	Port & port services	2.06	1308.5	2.06%	0.41%	2.06% (Nov 2025)	0% (Dec 2024)	8.63 L	1.49 L	Large Cap	38.36
Kotak Mahindra Bank Ltd.	Private sector bank	10.64	1296.3	2.04%	0.00%	2.04% (Nov 2025)	0% (Dec 2024)	6.10 L	0.00	Large Cap	38.36
Bharat Heavy Electricals Ltd.	Heavy electrical equipment	1.93	1226.6	1.93%	0.15%	1.93% (Nov 2025)	1.43% (Feb 2025)	42.17 L	0.00	Mid Cap	18.66
ICICI Bank Ltd.	Private sector bank	10.64	1182.2	1.86%	0.04%	3.55% (Dec 2024)	1.82% (Oct 2025)	8.51 L	0.00	Large Cap	38.36
Canara Bank	Public sector bank	2.83	1121.7	1.76%	0.16%	1.76% (Nov 2025)	0% (Dec 2024)	74.00 L	0.00	Other	15.21
Hero Motocorp Ltd.	2/3 wheelers	1.7	1079.5	1.70%	0.16%	1.7% (Nov 2025)	0.4% (Dec 2024)	1.75 L	0.00	Large Cap	38.36
PNB Housing Finance Ltd.	Housing finance company	2.44	1072.9	1.69%	-0.06%	1.75% (Oct 2025)	0.42% (Dec 2024)	11.85 L	0.00	Mid Cap	18.66
Sobha Ltd.	Residential, commercial projects	2.47	1061.2	1.67%	-0.10%	1.81% (Jul 2025)	1.46% (Mar 2025)	6.90 L	0.00	Small Cap	25.53
LTIMindtree Ltd.	Computers - software & consulting	10.95	1052.9	1.66%	0.10%	1.66% (Nov 2025)	1% (Mar 2025)	1.73 L	0.00	Mid Cap	18.66
Kalpataru Power Transmission Ltd.	Civil construction	3.32	1034	1.63%	-0.09%	1.99% (Aug 2025)	1.35% (Feb 2025)	8.62 L	0.00	Small Cap	25.53
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	1.57	998.7	1.57%	0.10%	3.42% (Jan 2025)	1.47% (May 2025)	2.66 L	0.00	Large Cap	38.36
HDFC Bank Ltd.	Private sector bank	10.64	964.1	1.52%	-0.93%	3.69% (Jul 2025)	0% (Dec 2024)	9.57 L	-6.03 L	Other	15.21
Jindal Steel Ltd.	Iron & steel products	4.47	951.1	1.50%	-0.59%	2.18% (Feb 2025)	1.5% (Nov 2025)	9.11 L	-3.23 L	Mid Cap	18.66
Ambuja Cements Ltd.	Cement & cement products	3.31	947.6	1.49%	-0.22%	2.13% (Mar 2025)	1.49% (Nov 2025)	17.22 L	-1.85 L	Large Cap	38.36
Federal Bank Ltd.	Private sector bank	10.64	943.8	1.48%	0.11%	1.48% (Nov 2025)	0.51% (Mar 2025)	36.59 L	0.00	Mid Cap	18.66
Sun Pharmaceutical Industries Ltd.	Pharmaceuticals	6.07	851.5	1.34%	-0.20%	3.06% (Feb 2025)	1.34% (Nov 2025)	4.65 L	-1.07 L	Large Cap	38.36
Swiggy Ltd.	E-retail/ e-commerce	1.53	843.2	1.33%	0.44%	1.33% (Nov 2025)	0% (Dec 2024)	22.29 L	8.67 L	Other	15.21
Astral Ltd.	Plastic products - industrial	1.31	831.5	1.31%	-0.02%	1.33% (Oct 2025)	0% (Dec 2024)	5.77 L	0.00	Mid Cap	18.66
Angel One Ltd.	Stockbroking & allied	1.25	795	1.25%	0.09%	1.61% (May 2025)	0.89% (Sep 2025)	2.94 L	0.00	Other	15.21
- Larsen & Toubro Ltd.	Civil construction	3.32	689.8	1.08%	0.00%	1.37% (Mar 2025)	1.03% (Sep 2025)	1.69 L	0.00	Large Cap	38.36
State Bank Of India	Public sector bank	2.83	682.3	1.07%	0.04%	1.07% (Nov 2025)	0% (Dec 2024)	6.97 L	0.00	Large Cap	38.36
Onesource Specialty Pharma Ltd.	Pharmaceuticals	6.07	674.8	1.06%	-0.23%	1.42% (Aug 2025)	0.72% (Feb 2025)	4.40 L	0.00	Other	15.21
Sonata Software Ltd.	Computers - software & consulting	10.95	672.9	1.06%	-0.05%	1.73% (Dec 2024)	1.06% (Nov 2025)	18.83 L	0.00	Small Cap	25.53
Cyient Ltd.	It enabled services	1.06	672.2	1.06%	-0.05%	1.47% (Jan 2025)	1.06% (Nov 2025)	5.98 L	0.00	Small Cap	25.53
Torrent Pharmaceuticals Ltd.	Pharmaceuticals	6.07	658.2	1.03%	0.04%	1.09% (Jul 2025)	0.4% (Dec 2024)	1.77 L	0.00	Mid Cap	18.66
Bharat Electronics Ltd.	Aerospace & defense	1.03	654.9	1.03%	-0.05%	1.08% (Oct 2025)	0% (Dec 2024)	15.91 L	0.00	Mid Cap	18.66
Carborundum Universal Ltd.	Abrasives & bearings	1.03	652.1	1.03%	-0.06%	1.53% (Dec 2024)	1.03% (Nov 2025)	7.61 L	0.00	Small Cap	25.53
- SBI Life Insurance Co Ltd.	Life insurance	1.69	640.5	1.01%	0.00%	1.07% (Jul 2025)	0.41% (Mar 2025)	3.26 L	0.00	Large Cap	38.36
Exide Industries Ltd.	Auto components & equipments	7.51	636	1.00%	0.06%	1% (Sep 2025)	0% (Dec 2024)	16.97 L	1.50 L	Mid Cap	18.66
ICICI Lombard General Insurance Co Ltd.	General insurance	1	633.1	1.00%	-0.02%	1.02% (Oct 2025)	0% (Dec 2024)	3.21 L	0.00	Large Cap	38.36
Grasim Industries Limited	Cement & cement products	3.31	630.9	0.99%	-0.38%	1.86% (Apr 2025)	0.99% (Nov 2025)	2.30 L	-0.68 L	Large Cap	38.36
Asahi India Glass Ltd.	Auto components & equipments	7.51	620.1	0.97%	0.09%	0.97% (Nov 2025)	0% (Dec 2024)	6.07 L	0.00	Small Cap	25.53
Mahanagar Gas Ltd.	Lpg/cng/png/lng supplier	0.96	610.2	0.96%	-0.07%	1.38% (Mar 2025)	0.51% (Dec 2024)	5.08 L	0.00	Small Cap	25.53
Pricol Ltd.	Auto components & equipments	7.51	603.6	0.95%	0.14%	1.8% (Dec 2024)	0.76% (Aug 2025)	9.68 L	0.00	Small Cap	25.53
Tube Investments Of India Ltd.	Auto components & equipments	7.51	581.7	0.91%	-0.09%	1.07% (Sep 2025)	0.91% (Nov 2025)	2.09 L	0.00	Small Cap	25.53
Pi Industries Ltd.	Pesticides & agrochemicals	0.91	576.7	0.91%	-0.06%	1.18% (Jul 2025)	0% (Dec 2024)	1.70 L	0.00	Mid Cap	18.66
Pitti Engineering Ltd.	Industrial products	2.02	530.6	0.83%	-0.08%	1.01% (Sep 2025)	0.65% (Jun 2025)	6.10 L	0.00	Small Cap	25.53
The Ramco Cements Ltd.	Cement & cement products	3.31	528.9	0.83%	-0.01%	0.84% (Oct 2025)	0% (Dec 2024)	5.10 L	0.00	Mid Cap	18.66
Anant Raj Industries Ltd.	Residential, commercial projects	2.47	507.1	0.80%	-0.10%	1.6% (Dec 2024)	0.8% (Nov 2025)	8.80 L	0.00	Small Cap	25.53
PCBL Ltd.	Carbon black	0.79	502.2	0.79%	-0.10%	0.96% (Sep 2025)	0% (Dec 2024)	15.44 L	0.00	Other	15.21
Craftsman Automation Ltd.	Auto components & equipments	7.51	500.2	0.79%	0.03%	0.84% (Aug 2025)	0.38% (Jan 2025)	71.21 k	0.00	Other	15.21
HCL Technologies Limited	Computers - software & consulting	10.95	487.3	0.77%	0.03%	0.77% (Nov 2025)	0% (Dec 2024)	3.00 L	0.00	Large Cap	38.36
Aptus Value Housing Finance India Ltd.	Housing finance company	2.44	478.7	0.75%	-0.01%	0.8% (Sep 2025)	0% (Dec 2024)	17.15 L	2.00 L	Other	15.21
Hindustan Petroleum Corporation Ltd.	Refineries & marketing	4.78	470.3	0.74%	-0.04%	2.12% (Jun 2025)	0.74% (Nov 2025)	10.28 L	0.00	Large Cap	38.36
IDFC First Bank Ltd.	Private sector bank	10.64	464.8	0.73%	0.19%	0.73% (Nov 2025)	0% (Dec 2024)	58.00 L	16.00 L	Mid Cap	18.66
Cyient DLM Ltd.	Industrial products	2.02	462.4	0.73%	-0.05%	0.85% (Mar 2025)	0.59% (Jan 2025)	10.77 L	0.00	Other	15.21
NMDC LTD	Industrial minerals	0.69	437.6	0.69%	-0.02%	0.71% (Oct 2025)	0% (Dec 2024)	59.19 L	0.00	Mid Cap	18.66
# HDFC Life Insurance Company Ltd.	Life insurance	1.69	430.9	0.68%	0.68%	0.68% (Nov 2025)	0% (Dec 2024)	5.64 L	5.64 L	Large Cap	38.36
Samhi Hotels Ltd.	Hotels & resorts	0.63	397.9	0.63%	-0.04%	0.66% (Oct 2025)	0% (Dec 2024)	20.29 L	0.00	Other	15.21
Balrampur Chini Mills Ltd.	Sugar	0.62	396.6	0.62%	-0.22%	1.11% (Jul 2025)	0.62% (Nov 2025)	8.86 L	-2.69 L	Small Cap	25.53
Power Mech Projects Ltd.	Civil construction	3.32	388.6	0.61%	-0.04%	1.16% (Jun 2025)	0.61% (Nov 2025)	1.63 L	0.00	Small Cap	25.53
Strides Pharma Science Ltd.	Pharmaceuticals	6.07	321.8	0.51%	-0.04%	0.84% (Jun 2025)	0.5% (Sep 2025)	3.66 L	0.00	Small Cap	25.53
Praj Industries Ltd.	Industrial products	2.02	290.8	0.46%	-0.04%	1.2% (Dec 2024)	0.46% (Nov 2025)	9.20 L	0.00	Small Cap	25.53
# Mphasis Ltd.	Computers - software & consulting	10.95	269.6	0.42%	0.42%	0.42% (Nov 2025)	0% (Dec 2024)	95.90 k	95.90 k	Mid Cap	18.66
VRL Logistic Ltd.	Logistics solution provider	0.42	269	0.42%	-0.02%	0.5% (Jul 2025)	0.39% (Apr 2025)	9.91 L	0.00	Small Cap	25.53
Emami Ltd.	Personal care	0.38	240.9	0.38%	-0.01%	0.44% (Aug 2025)	0% (Dec 2024)	4.54 L	0.00	Mid Cap	18.66
Indiqube Spaces Ltd.	Diversified commercial services	0.37	234.3	0.37%	0.02%	0.39% (Sep 2025)	0% (Dec 2024)	10.39 L	0.00	Other	15.21
Shivalik Bimetal Controls Ltd.	Iron & steel products	4.47	174.6	0.27%	-0.03%	0.35% (Jun 2025)	0.03% (Dec 2024)	4.00 L	0.00	Small Cap	25.53
Cholamandalam Financial Holdings Ltd.	Investment company	0.24	152.8	0.24%	-0.01%	0.54% (Apr 2025)	0.24% (Nov 2025)	82.75 k	0.00	Small Cap	25.53
# Capillary Technologies India Ltd.	Software products	0.22	139.4	0.22%	0.22%	0.22% (Nov 2025)	0% (Dec 2024)	2.16 L	2.16 L	Other	15.21
# Physicswallah Ltd.	E-retail/ e-commerce	1.53	125.7	0.20%	0.20%	0.2% (Nov 2025)	0% (Dec 2024)	10.06 L	10.06 L	Other	15.21
ITC Limited	Diversified fmcg		294.3	0.00%	-0.47%	-	-	-	-	Large Cap	38.36

- indicates change in weight in the portfolio. # indicates a new entry.

New Stocks added in Portfolio (in 1 month period ending 30th Nov,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
# HDFC Life Insurance Company Ltd.	Life insurance	430.9	0.68%	0.68%	0.68% (Nov 2025)	0% (Dec 2024)	5.64 L	563836
# Physicswallah Ltd.	E-retail/ e-commerce	125.7	0.20%	0.20%	0.2% (Nov 2025)	0% (Dec 2024)	10.06 L	1006133
# Mphasis Ltd.	Computers - software & consulting	269.6	0.42%	0.42%	0.42% (Nov 2025)	0% (Dec 2024)	95.90 k	95902
# Capillary Technologies India Ltd.	Software products	139.4	0.22%	0.22%	0.22% (Nov 2025)	0% (Dec 2024)	2.16 L	216497

Stocks removed from Portfolio (in 1 month period ending 30th Nov,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
ITC Limited	Diversified fmcg	294.3	0.00%	-0.47%	2.32% (Aug 2025)	0% (Dec 2024)	0.00	-700000

Trend in stock holdings (Top 15 Holding)

Stock	Nov 2025	Oct 2025	Sep 2025	Aug 2025	Jul 2025	Jun 2025	May 2025	Apr 2025	Mar 2025	Feb 2025	Jan 2025	Dec 2024	Nov 2024
Reliance Industries Ltd.	4.04%	3.86%	3.70%	3.91%	3.86%	3.52%	3.45%	3.60%	3.29%	3.38%	3.19%	2.67%	2.59%
Infosys Ltd.	3.92%	3.76%	3.96%	4.15%	4.02%	3.71%	2.40%	2.44%	2.38%	2.96%	3.47%	3.50%	3.81%
Tech Mahindra Ltd.	3.12%	2.95%	3.04%	3.49%	3.30%	3.32%	3.20%	3.24%	3.07%	3.36%	3.26%	3.13%	3.10%
National Thermal Power Corporation Ltd.	2.78%	2.89%	3.06%	3.02%	2.97%	2.85%	2.93%	3.22%	3.06%	2.91%	2.90%	2.81%	3.49%
Welspun Corp Ltd.	2.70%	3.07%	2.85%	2.91%	3.22%	3.06%	3.20%	2.78%	3.24%	3.00%	2.82%	2.92%	2.74%
Minda Corporation Ltd.	2.89%	2.83%	2.99%	2.69%	2.57%	2.57%	2.66%	2.88%	3.45%	3.36%	3.65%	2.95%	2.95%
Shriram Finance Ltd.	3.81%	3.38%	2.90%	2.81%	2.82%	2.69%	2.51%	2.54%	2.74%	3.54%	2.88%	2.31%	2.38%
ICICI Bank Ltd.	1.86%	1.82%	1.90%	2.28%	2.48%	3.21%	3.32%	3.47%	3.30%	3.04%	3.07%	3.55%	3.55%
Axis Bank Ltd.	3.01%	2.93%	2.81%	2.66%	2.62%	2.82%	3.19%	3.35%	2.91%	2.86%	1.95%	2.48%	2.29%
HDFC Bank Ltd.	1.52%	2.44%	2.46%	2.72%	3.69%	3.06%	2.41%	2.30%	-	-	-	-	-
Jindal Steel Ltd.	1.50%	2.09%	2.17%	3.97%	-	-	-	-	-	-	-	-	-
Jindal Steel & Power Ltd.	-	-	-	-	2.14%	2.00%	2.08%	2.08%	2.13%	2.18%	1.80%	2.00%	1.92%
Sun Pharmaceutical Industries Ltd.	1.34%	1.53%	1.51%	1.79%	2.13%	2.00%	2.07%	2.39%	2.63%	3.06%	2.99%	3.05%	2.84%
Granules India Ltd.	2.13%	2.19%	2.28%	2.23%	2.08%	2.07%	2.29%	2.08%	2.24%	2.22%	2.39%	2.40%	2.33%
Multi Commodity Exchange Of India Ltd.	2.81%	2.60%	2.29%	2.23%	2.24%	2.49%	2.11%	2.07%	1.80%	1.85%	1.94%	1.85%	1.81%
Mahindra & Mahindra Ltd.	1.57%	1.47%	1.66%	1.65%	1.59%	1.52%	1.47%	1.53%	2.50%	3.03%	3.42%	3.24%	3.16%