Axis Large Cap 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 : Large Cap Fund

Portfolio Turnover Ratio : 86.00%. Category average turnover ratio is 211.86%. 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 : 95.03% | F&O Holdings : 0.19%| Foreign Equity Holdings : 0.00%| Total : 95.22%

No of Stocks : 55 (Category Avg - 52.18) | Large Cap Investments : 59.74%| Mid Cap Investments : 9.74% | Small Cap Investments : 1.31% | Other : 24.43%

Portfolio Summary (as on 31st Dec,2025)

Particulars	This Scheme	Category
No. of Stocks	55	51.12
Top 5 Stock Weight	35.99%	31.6%
Top 10 Stock Weight	55.37%	49.06%
Top 3 Sector Weight	36.77%	36.58%

Category - Large Cap Fund

Particulars	This Scheme	Category
Average mcap (Cr)	169738.44	153486.92
Holdings in large cap stocks	59.74%	60.87%
Holdings in mid cap stocks	9.74%	7.92%
Holdings in small cap stocks	1.31%	2.24%

Category - Large Cap Fund

Top 10 Stocks holding in Portfolio (as on 31st Dec,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
HDFC Bank Ltd.	Private sector bank	32151.6	9.58%	-0.01%	9.94% (Feb 2025)	9.02% (May 2025)	3.24 Cr	0.00
ICICI Bank Ltd.	Private sector bank	26720.9	7.96%	-0.15%	9.25% (Jul 2025)	7.59% (Oct 2025)	1.99 Cr	0.00
Reliance Industries Ltd.	Refineries & marketing	26341.6	7.85%	0.67%	7.85% (Dec 2025)	2.68% (Jan 2025)	1.68 Cr	11.64 L
Infosys Ltd.	Computers - software & consulting	18144.5	5.41%	0.13%	6.54% (Jan 2025)	3.52% (Apr 2025)	1.12 Cr	-2.86 L
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	17426.8	5.19%	-0.74%	5.94% (Nov 2025)	5.05% (Feb 2025)	82.76 L	-0.13 Cr
Larsen & Toubro Ltd.	Civil construction	17161.8	5.11%	0.49%	5.11% (Dec 2025)	2.81% (Apr 2025)	42.03 L	3.30 L
Bajaj Finance Ltd.	Non banking financial company (nbfc)	12888.3	3.84%	-0.98%	5.39% (Sep 2025)	3.84% (Dec 2025)	1.31 Cr	-0.28 Cr
State Bank Of India	Public sector bank	12751.4	3.80%	-0.34%	4.14% (Nov 2025)	2.42% (Feb 2025)	1.30 Cr	-0.14 Cr
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	11997.2	3.58%	0.01%	3.58% (Dec 2025)	2.73% (Mar 2025)	32.34 L	0.00
Kotak Mahindra Bank Ltd.	Private sector bank	10250.8	3.05%	0.25%	3.05% (Dec 2025)	1.58% (Jul 2025)	46.57 L	1.61 L

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

View complete holding

Complete equity Portfolio (as on 31st Dec,2025)

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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
HDFC Bank Ltd.	Private sector bank	20.59	32151.6	9.58%	-0.01%	9.94% (Feb 2025)	9.02% (May 2025)	3.24 Cr	0.00	Other	24.43
ICICI Bank Ltd.	Private sector bank	20.59	26720.9	7.96%	-0.15%	9.25% (Jul 2025)	7.59% (Oct 2025)	1.99 Cr	0.00	Large Cap	59.74
Reliance Industries Ltd.	Refineries & marketing	7.85	26341.6	7.85%	0.67%	7.85% (Dec 2025)	2.68% (Jan 2025)	1.68 Cr	11.64 L	Large Cap	59.74
Infosys Ltd.	Computers - software & consulting	8.33	18144.5	5.41%	0.13%	6.54% (Jan 2025)	3.52% (Apr 2025)	1.12 Cr	-2.86 L	Large Cap	59.74
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	5.19	17426.8	5.19%	-0.74%	5.94% (Nov 2025)	5.05% (Feb 2025)	82.76 L	-0.13 Cr	Large Cap	59.74
Larsen & Toubro Ltd.	Civil construction	5.11	17161.8	5.11%	0.49%	5.11% (Dec 2025)	2.81% (Apr 2025)	42.03 L	3.30 L	Large Cap	59.74
Bajaj Finance Ltd.	Non banking financial company (nbfc)	6.9	12888.3	3.84%	-0.98%	5.39% (Sep 2025)	3.84% (Dec 2025)	1.31 Cr	-0.28 Cr	Other	24.43
State Bank Of India	Public sector bank	3.8	12751.4	3.80%	-0.34%	4.14% (Nov 2025)	2.42% (Feb 2025)	1.30 Cr	-0.14 Cr	Large Cap	59.74
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	5.29	11997.2	3.58%	0.01%	3.58% (Dec 2025)	2.73% (Mar 2025)	32.34 L	0.00	Large Cap	59.74
Kotak Mahindra Bank Ltd.	Private sector bank	20.59	10250.8	3.05%	0.25%	3.05% (Dec 2025)	1.58% (Jul 2025)	46.57 L	1.61 L	Large Cap	59.74
Eternal Ltd.	E-retail/ e-commerce	2.87	9636.6	2.87%	-0.08%	3.94% (Sep 2025)	1.51% (Mar 2025)	3.47 Cr	11.27 L	Other	24.43
Ultratech Cement Ltd.	Cement & cement products	2.25	7555.3	2.25%	-0.56%	3.13% (Aug 2025)	2.11% (Feb 2025)	6.41 L	-1.85 L	Large Cap	59.74
Apollo Hospitals Enterprises Ltd.	Hospital	2.06	6921.6	2.06%	0.08%	2.24% (Oct 2025)	0.92% (Feb 2025)	9.83 L	63.31 k	Mid Cap	9.74
Titan Company Ltd.	Gems, jewellery and watches	2.02	6766.5	2.02%	-0.10%	2.15% (Aug 2025)	1.14% (Mar 2025)	16.70 L	-1.80 L	Large Cap	59.74
- Divis Laboratories Ltd.	Pharmaceuticals	3.95	6122.1	1.82%	0.00%	1.89% (Oct 2025)	0.58% (Apr 2025)	9.58 L	0.00	Large Cap	59.74
Bharat Electronics Ltd.	Aerospace & defense	2.35	5963.3	1.78%	-0.06%	2.13% (Oct 2025)	0.45% (Feb 2025)	1.49 Cr	-3.17 L	Mid Cap	9.74
Shriram Finance Ltd.	Non banking financial company (nbfc)	6.9	5870.3	1.75%	0.80%	1.75% (Dec 2025)	0% (Jan 2025)	58.93 L	21.06 L	Other	24.43
InterGlobe Aviation Ltd.	Airline	1.45	4858.1	1.45%	-1.63%	3.08% (Nov 2025)	1.45% (Dec 2025)	9.60 L	-8.19 L	Large Cap	59.74
Pidilite Industries Ltd.	Specialty chemicals	1.35	4519.5	1.35%	0.03%	2.03% (May 2025)	1.32% (Nov 2025)	30.49 L	0.00	Large Cap	59.74
Tech Mahindra Ltd.	Computers - software & consulting	8.33	4391.4	1.31%	0.24%	1.45% (Aug 2025)	0.22% (Mar 2025)	27.60 L	3.56 L	Large Cap	59.74
Cholamandalam Investment & Finance Co. Ltd.	Non banking financial company (nbfc)	6.9	4133.5	1.23%	-0.01%	1.65% (May 2025)	1.22% (Jul 2025)	24.28 L	0.00	Other	24.43
Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	5.29	4006.7	1.19%	0.26%	1.26% (Oct 2025)	0.49% (Jan 2025)	2.40 L	40.72 k	Large Cap	59.74
Indian Hotels Company Limited	Hotels & resorts	1.12	3749.8	1.12%	-0.20%	1.92% (Aug 2025)	1.12% (Dec 2025)	50.75 L	-9.72 L	Mid Cap	9.74
Tata Consultancy Services Ltd.	Computers - software & consulting	8.33	3705	1.10%	0.61%	3.6% (Jan 2025)	0.47% (Sep 2025)	11.56 L	6.14 L	Large Cap	59.74
Sun Pharmaceutical Industries Ltd.	Pharmaceuticals	3.95	3624.2	1.08%	-0.05%	3.04% (Jan 2025)	1.02% (Sep 2025)	21.07 L	0.00	Large Cap	59.74
TML Commercial Vehicles Ltd.	Commercial vehicles	1.06	3573.5	1.06%	0.83%	1.06% (Dec 2025)	0% (Jan 2025)	86.00 L	62.95 L	Other	24.43
Torrent Pharmaceuticals Ltd.	Pharmaceuticals	3.95	3508.9	1.05%	0.01%	1.05% (Dec 2025)	0% (Jan 2025)	9.11 L	-0.36 L	Mid Cap	9.74
Tata Consumer Products Ltd.	Tea & coffee	0.99	3307.9	0.99%	0.03%	0.99% (Dec 2025)	0.29% (Jan 2025)	27.75 L	0.00	Mid Cap	9.74
Cummins India Ltd.	Compressors, pumps & diesel engines	0.93	3115.4	0.93%	-0.05%	1.04% (Oct 2025)	0% (Jan 2025)	7.03 L	-0.40 L	Mid Cap	9.74
TVS Motor Company Ltd.	2/3 wheelers	1.5	3100.6	0.92%	0.06%	1.58% (Sep 2025)	0.81% (Jul 2025)	8.34 L	0.00	Mid Cap	9.74
CG Power and Industrial Solutions Ltd.	Heavy electrical equipment	0.89	2989.1	0.89%	-0.02%	0.98% (Sep 2025)	0% (Jan 2025)	46.13 L	0.00	Small Cap	1.31
Avenue Supermarts Ltd.	Diversified retail	0.83	2790.6	0.83%	-0.37%	2.17% (Apr 2025)	0.83% (Dec 2025)	7.38 L	-2.85 L	Large Cap	59.74
Motherson Sumi Systems Ltd.	Auto components & equipments	0.81	2722.7	0.81%	0.22%	0.81% (Dec 2025)	0.33% (Apr 2025)	2.27 Cr	53.57 L	Large Cap	59.74
Trent Limited	Speciality retail	0.62	2092.2	0.62%	0.01%	1.08% (Jun 2025)	0.61% (Nov 2025)	4.89 L	0.00	Mid Cap	9.74
Hindustan Aeronautics Ltd.	Aerospace & defense	2.35	1929.5	0.57%	-0.01%	0.59% (Nov 2025)	0% (Jan 2025)	4.40 L	0.00	Other	24.43
Eicher Motors Ltd.	2/3 wheelers	1.5	1919.5	0.57%	0.03%	0.57% (Dec 2025)	0% (Jan 2025)	2.62 L	0.00	Other	24.43
HDFC Life Insurance Company Ltd.	Life insurance	0.87	1892.6	0.56%	0.00%	1.17% (Jun 2025)	0.56% (Dec 2025)	25.24 L	0.00	Large Cap	59.74
National Thermal Power Corporation Ltd.	Power generation	0.55	1832.2	0.55%	-0.09%	1.3% (Apr 2025)	0.55% (Dec 2025)	55.60 L	-0.10 Cr	Large Cap	59.74
Info Edge (India) Ltd.	Internet & catalogue retail	0.53	1763.4	0.53%	-0.13%	1.81% (Jan 2025)	0.53% (Dec 2025)	13.22 L	-3.62 L	Other	24.43
Hyundai Motor India Ltd.	Passenger cars & utility vehicles	5.29	1731.4	0.52%	-0.36%	1.29% (Sep 2025)	0.09% (Apr 2025)	7.53 L	-5.24 L	Other	24.43
# ICICI Prudential Asset Management Co. Ltd.	Investment company	0.49	1631.2	0.49%	0.49%	0.49% (Dec 2025)	0% (Jan 2025)	6.13 L	6.13 L	Other	24.43
LG Electronics India Pvt. Ltd.	Consumer electronics	0.81	1567.3	0.47%	-0.03%	0.51% (Oct 2025)	0% (Jan 2025)	10.30 L	0.00	Other	24.43
Hindustan Unilever Ltd.	Diversified fmcg	0.64	1418.1	0.42%	-0.02%	0.78% (Sep 2025)	0% (Jan 2025)	6.12 L	0.00	Large Cap	59.74
Solar Industries India Ltd.	Explosives	0.42	1399.7	0.42%	-0.03%	0.45% (Nov 2025)	0% (Jan 2025)	1.14 L	0.00	Small Cap	1.31
Dixon Technologies (India) Ltd.	Consumer electronics	0.81	1126.9	0.34%	-0.12%	0.52% (Sep 2025)	0% (Jan 2025)	93.11 k	-0.12 L	Other	24.43
HCL Technologies Limited	Computers - software & consulting	8.33	1066.3	0.32%	-0.17%	0.5% (Jun 2025)	0.1% (Apr 2025)	6.57 L	-3.75 L	Large Cap	59.74
Varun Beverages Ltd.	Other beverages	0.32	1063.6	0.32%	0.06%	1.06% (Apr 2025)	0.24% (Sep 2025)	21.71 L	3.77 L	Other	24.43
# SBI Life Insurance Co Ltd.	Life insurance	0.87	1030	0.31%	0.31%	0.31% (Dec 2025)	0% (Jan 2025)	5.06 L	5.06 L	Large Cap	59.74
- Tata Power Co. Ltd.	Integrated power utilities	0.27	896.1	0.27%	0.00%	0.31% (Jun 2025)	0% (Jan 2025)	23.61 L	0.00	Mid Cap	9.74
- ITC Limited	Diversified fmcg	0.64	753.2	0.22%	0.00%	1.24% (May 2025)	0.22% (Nov 2025)	18.69 L	0.00	Large Cap	59.74
Britannia Industries Ltd.	Packaged foods	0.2	666	0.20%	0.01%	0.2% (Dec 2025)	0% (Jan 2025)	1.10 L	0.00	Large Cap	59.74
Wipro Ltd. : Futures Near	Computers - software & consulting	8.33	650.3	0.19%	0.19%	0.19% (Dec 2025)	0% (Jan 2025)	24.78 L	24.78 L	Other	24.43
Tata Capital Ltd.	Non banking financial company (nbfc)	6.9	258.2	0.08%	0.00%	0.08% (Dec 2025)	0% (Jan 2025)	7.55 L	0.00	Other	24.43
# TVS Motor Company Ltd. - Preference Shares	2/3 wheelers	1.5	49.2	0.01%	0.00%	0% (Jan 2026)	0% (Jan 2026)	48.28 L	0.00	Other	24.43
# Kwality Walls (India) Ltd.	Dairy products	0.01	24.6	0.01%	0.01%	0.01% (Dec 2025)	0% (Jan 2025)	6.12 L	6.12 L	Other	24.43
Siemens Energy India Ltd.	Power generation	0.55	809.4	0.00%	-0.24%	-	-	-	-	Other	24.43
Asian Paints (india) Ltd.	Paints		133.3	0.00%	-0.04%	-	-	-	-	Large Cap	59.74
HDFC Asset Management Co. Ltd.	Asset management company		707.1	0.00%	-0.21%	-	-	-	-	Large Cap	59.74

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

New Stocks added in Portfolio (in 1 month period ending 31st Dec,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
Wipro Ltd.	Computers - software & consulting	650.3	0.19%	0.19%	0.19% (Dec 2025)	0% (Jan 2025)	24.78 L	2478000
# Kwality Walls (India) Ltd.	Dairy products	24.6	0.01%	0.01%	0.01% (Dec 2025)	0% (Jan 2025)	6.12 L	612328
# SBI Life Insurance Co Ltd.	Life insurance	1030	0.31%	0.31%	0.31% (Dec 2025)	0% (Jan 2025)	5.06 L	506160
# ICICI Prudential Asset Management Co. Ltd.	Investment company	1631.2	0.49%	0.49%	0.49% (Dec 2025)	0% (Jan 2025)	6.13 L	612968

Stocks removed from Portfolio (in 1 month period ending 31st Dec,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	1M Change in Qty
Siemens Energy India Ltd.	Power generation	809.4	0.00%	-0.24%	0.71% (Sep 2025)	0% (Jan 2025)	-256182
Asian Paints (india) Ltd.	Paints	133.3	0.00%	-0.04%	0.04% (Nov 2025)	0% (Jan 2025)	-46386
HDFC Asset Management Co. Ltd.	Asset management company	707.1	0.00%	-0.21%	0.67% (Aug 2025)	0% (Jan 2025)	-264538

Trend in stock holdings (Top 15 Holding)

Stock	Dec 2025	Nov 2025	Oct 2025	Sep 2025	Aug 2025	Jul 2025	Jun 2025	May 2025	Apr 2025	Mar 2025	Feb 2025	Jan 2025	Dec 2024
HDFC Bank Ltd.	9.58%	9.59%	9.47%	9.36%	9.37%	9.81%	9.57%	9.02%	9.08%	9.69%	9.94%	9.41%	9.45%
ICICI Bank Ltd.	7.96%	8.11%	7.59%	8.40%	8.72%	9.25%	8.33%	8.57%	8.81%	8.82%	8.35%	8.41%	8.51%
Bharti Airtel Ltd.	5.19%	5.94%	5.84%	5.23%	5.26%	5.07%	5.68%	5.47%	5.53%	5.59%	5.05%	5.14%	4.89%
Reliance Industries Ltd.	7.85%	7.18%	6.76%	6.15%	6.12%	6.20%	6.80%	6.09%	5.11%	2.94%	2.94%	2.68%	2.83%
Infosys Ltd.	5.41%	5.27%	4.76%	5.06%	4.89%	4.96%	4.19%	3.81%	3.52%	4.35%	6.20%	6.54%	6.08%
Bajaj Finance Ltd.	3.84%	4.82%	5.09%	5.39%	4.68%	4.73%	4.98%	4.83%	4.57%	5.08%	4.87%	4.21%	3.47%
Larsen & Toubro Ltd.	5.11%	4.63%	4.57%	4.07%	3.69%	3.68%	3.78%	3.64%	2.81%	3.43%	3.29%	3.31%	3.16%
Mahindra & Mahindra Ltd.	3.58%	3.57%	3.35%	3.38%	3.56%	3.30%	3.28%	2.96%	2.92%	2.73%	2.81%	3.49%	3.42%
State Bank Of India	3.80%	4.14%	3.99%	3.38%	2.94%	2.70%	3.06%	2.77%	3.14%	2.56%	2.42%	2.57%	2.57%
Eternal Ltd.	2.87%	2.95%	3.14%	3.94%	3.85%	3.72%	2.55%	1.62%	1.53%	3.02%	-	-	-
Zomato Ltd.	-	-	-	-	-	-	-	-	-	-	2.17%	2.03%	3.13%
InterGlobe Aviation Ltd.	1.45%	3.08%	2.96%	3.02%	2.95%	3.02%	2.63%	2.29%	2.42%	2.43%	1.86%	1.70%	3.12%
Ultratech Cement Ltd.	2.25%	2.81%	2.98%	3.02%	3.13%	2.99%	2.44%	2.33%	2.36%	2.26%	2.11%	2.16%	1.97%
Kotak Mahindra Bank Ltd.	3.05%	2.80%	2.79%	1.68%	1.58%	1.58%	2.10%	2.30%	2.92%	2.89%	2.28%	2.05%	1.44%
Sun Pharmaceutical Industries Ltd.	1.08%	1.13%	1.05%	1.02%	1.15%	1.46%	1.69%	1.78%	2.86%	3.01%	2.93%	3.04%	3.13%