Axis Multicap Fund - Regular 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 : Multi Cap Fund

Portfolio Turnover Ratio : 43.00%. Category average turnover ratio is 281.81%. 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 : 97.34% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 97.34%

No of Stocks : 129 (Category Avg - 83.45) | Large Cap Investments : 27.52%| Mid Cap Investments : 11.71% | Small Cap Investments : 18.93% | Other : 39.18%

Portfolio Summary (as on 30th Nov,2025)

Particulars	This Scheme	Category
No. of Stocks	129	82.42
Top 5 Stock Weight	17.15%	18.55%
Top 10 Stock Weight	25.86%	30.48%
Top 3 Sector Weight	25.75%	25.06%

Category - Multi Cap Fund

Particulars	This Scheme	Category
Average mcap (Cr)	71590.76	63835.18
Holdings in large cap stocks	27.52%	28.28%
Holdings in mid cap stocks	11.71%	14.95%
Holdings in small cap stocks	18.93%	16.04%

Category - Multi Cap 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	1M Change in Qty
HDFC Bank Ltd.	Private sector bank	5446.5	5.89%	-0.08%	7.83% (Apr 2025)	4.29% (Dec 2024)	54.05 L	-1.00 L
ICICI Bank Ltd.	Private sector bank	3304.5	3.57%	-0.18%	5.14% (Apr 2025)	3.57% (Nov 2025)	23.79 L	-1.60 L
Reliance Industries Ltd.	Refineries & marketing	3173.4	3.43%	0.12%	3.79% (Apr 2025)	1.9% (Dec 2024)	20.25 L	0.00
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	2002.5	2.17%	0.02%	2.55% (Apr 2025)	1.78% (Dec 2024)	9.53 L	0.00
Fortis Healthcare Ltd.	Hospital	1929.3	2.09%	-0.49%	2.58% (Oct 2025)	2% (May 2025)	20.99 L	-2.00 L
Minda Corporation Ltd.	Auto components & equipments	1713.1	1.85%	0.02%	2.45% (Jan 2025)	1.77% (Aug 2025)	29.47 L	0.00
Bajaj Finance Ltd.	Non banking financial company (nbfc)	1695.7	1.83%	-0.04%	1.91% (Apr 2025)	0.89% (Dec 2024)	16.34 L	0.00
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	1616.7	1.75%	0.10%	2.43% (Jan 2025)	1.35% (Mar 2025)	4.30 L	0.00
Larsen & Toubro Ltd.	Civil construction	1533.2	1.66%	0.21%	1.66% (Nov 2025)	1.29% (Jun 2025)	3.77 L	50.01 k
State Bank Of India	Public sector bank	1498.9	1.62%	0.04%	1.64% (Apr 2025)	1.4% (Jul 2025)	15.31 L	0.00

- 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
HDFC Bank Ltd.	Private sector bank	14.26	5446.5	5.89%	-0.08%	7.83% (Apr 2025)	4.29% (Dec 2024)	54.05 L	-1.00 L	Other	39.18
ICICI Bank Ltd.	Private sector bank	14.26	3304.5	3.57%	-0.18%	5.14% (Apr 2025)	3.57% (Nov 2025)	23.79 L	-1.60 L	Large Cap	27.52
Reliance Industries Ltd.	Refineries & marketing	3.43	3173.4	3.43%	0.12%	3.79% (Apr 2025)	1.9% (Dec 2024)	20.25 L	0.00	Large Cap	27.52
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	2.17	2002.5	2.17%	0.02%	2.55% (Apr 2025)	1.78% (Dec 2024)	9.53 L	0.00	Large Cap	27.52
Fortis Healthcare Ltd.	Hospital	3.84	1929.3	2.09%	-0.49%	2.58% (Oct 2025)	2% (May 2025)	20.99 L	-2.00 L	Other	39.18
Minda Corporation Ltd.	Auto components & equipments	6.5	1713.1	1.85%	0.02%	2.45% (Jan 2025)	1.77% (Aug 2025)	29.47 L	0.00	Small Cap	18.93
Bajaj Finance Ltd.	Non banking financial company (nbfc)	3.89	1695.7	1.83%	-0.04%	1.91% (Apr 2025)	0.89% (Dec 2024)	16.34 L	0.00	Other	39.18
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	3	1616.7	1.75%	0.10%	2.43% (Jan 2025)	1.35% (Mar 2025)	4.30 L	0.00	Large Cap	27.52
Larsen & Toubro Ltd.	Civil construction	1.66	1533.2	1.66%	0.21%	1.66% (Nov 2025)	1.29% (Jun 2025)	3.77 L	50.01 k	Large Cap	27.52
State Bank Of India	Public sector bank	2.54	1498.9	1.62%	0.04%	1.64% (Apr 2025)	1.4% (Jul 2025)	15.31 L	0.00	Large Cap	27.52
Eternal Ltd.	E-retail/ e-commerce	1.61	1486.3	1.61%	-0.33%	1.95% (Sep 2025)	0.62% (Mar 2025)	49.53 L	-6.00 L	Other	39.18
Shriram Finance Ltd.	Non banking financial company (nbfc)	3.89	1372.8	1.49%	1.03%	1.49% (Nov 2025)	0% (Dec 2024)	16.12 L	10.49 L	Other	39.18
Multi Commodity Exchange Of India Ltd.	Exchange and data platform	1.47	1358.3	1.47%	0.10%	1.6% (Jun 2025)	0.9% (Mar 2025)	1.35 L	0.00	Small Cap	18.93
Infosys Ltd.	Computers - software & consulting	4.99	1233.3	1.33%	-0.06%	2.75% (Jan 2025)	1.21% (Apr 2025)	7.91 L	-0.61 L	Large Cap	27.52
Coforge Ltd.	Computers - software & consulting	4.99	1233.3	1.33%	0.14%	1.37% (Jun 2025)	0% (Dec 2024)	6.46 L	36.00 k	Other	39.18
Premier Energies Ltd.	Other electrical equipment	2.29	1152.8	1.25%	-0.17%	1.42% (Oct 2025)	0.3% (Feb 2025)	11.81 L	0.00	Other	39.18
- Kotak Mahindra Bank Ltd.	Private sector bank	14.26	1114.2	1.21%	0.00%	1.21% (Oct 2025)	0% (Dec 2024)	5.24 L	0.00	Large Cap	27.52
Blue Star Ltd.	Household appliances	1.74	1085.2	1.17%	-0.14%	2.74% (Mar 2025)	1.17% (Nov 2025)	6.15 L	0.00	Small Cap	18.93
Bharat Electronics Ltd.	Aerospace & defense	1.64	1065.3	1.15%	-0.06%	1.21% (Oct 2025)	0.86% (Apr 2025)	25.87 L	0.00	Mid Cap	11.71
Federal Bank Ltd.	Private sector bank	14.26	1059.8	1.15%	0.08%	1.15% (Nov 2025)	0.36% (Feb 2025)	41.09 L	0.00	Mid Cap	11.71
eClerx Services Ltd.	Business process outsourcing (bpo)/ knowledge process outsourcing (kpo)	1.13	1048.3	1.13%	-0.19%	1.32% (Oct 2025)	0.69% (Apr 2025)	2.30 L	-0.24 L	Small Cap	18.93
Jyoti CNC Automation Ltd.	Industrial products	1.89	1034.6	1.12%	0.15%	1.4% (May 2025)	0.81% (Jan 2025)	10.24 L	0.00	Other	39.18
RBL Bank Ltd.	Private sector bank	14.26	988	1.07%	-0.06%	1.13% (Oct 2025)	0% (Dec 2024)	31.63 L	0.00	Mid Cap	11.71
CG Power and Industrial Solutions Ltd.	Heavy electrical equipment	3.88	962.3	1.04%	-0.12%	1.18% (Sep 2025)	0.65% (Feb 2025)	14.30 L	0.00	Small Cap	18.93
Apar Industries Ltd.	Other electrical equipment	2.29	959.3	1.04%	0.04%	1.22% (Dec 2024)	0.26% (Apr 2025)	1.05 L	0.00	Small Cap	18.93
GE T&D India Ltd.	Heavy electrical equipment	3.88	948.8	1.03%	-0.74%	1.82% (Sep 2025)	0.96% (Feb 2025)	3.29 L	-2.00 L	Small Cap	18.93
- Karur Vysya Bank Ltd	Private sector bank	14.26	934.1	1.01%	0.00%	1.02% (Jun 2025)	0% (Dec 2024)	37.67 L	0.00	Small Cap	18.93
Solar Industries India Ltd.	Explosives	1	923.9	1.00%	0.14%	1.57% (May 2025)	0.86% (Oct 2025)	69.62 k	13.50 k	Small Cap	18.93
TVS Motor Company Ltd.	2/3 wheelers	1.41	904	0.98%	-0.06%	1.14% (Sep 2025)	0.44% (Dec 2024)	2.56 L	-0.15 L	Mid Cap	11.71
Craftsman Automation Ltd.	Auto components & equipments	6.5	884.6	0.96%	0.08%	0.99% (Aug 2025)	0.25% (Jan 2025)	1.26 L	6.11 k	Other	39.18
- Indian Bank	Public sector bank	2.54	852.7	0.92%	0.00%	0.92% (Oct 2025)	0.39% (Dec 2024)	9.80 L	0.00	Mid Cap	11.71
Cummins India Ltd.	Compressors, pumps & diesel engines	0.9	829.2	0.90%	0.02%	0.92% (Dec 2024)	0% (Dec 2024)	1.85 L	0.00	Mid Cap	11.71
Persistent Systems Ltd.	Computers - software & consulting	4.99	828.3	0.90%	0.05%	3.16% (Dec 2024)	0.73% (Sep 2025)	1.30 L	0.00	Other	39.18
Mankind Pharma Ltd.	Pharmaceuticals	4.13	778.2	0.84%	-0.07%	1.07% (Jul 2025)	0.4% (Jun 2025)	3.46 L	0.00	Other	39.18
Firstsource Solutions Ltd.	It enabled services	1.36	754.4	0.82%	-0.03%	1.3% (Dec 2024)	0.82% (Jul 2025)	21.82 L	0.00	Small Cap	18.93
Sansera Engineering Ltd.	Auto components & equipments	6.5	735.3	0.80%	0.13%	0.92% (Dec 2024)	0.6% (Apr 2025)	4.20 L	19.65 k	Other	39.18
Anant Raj Industries Ltd.	Residential, commercial projects	2.34	731.6	0.79%	-0.11%	1.56% (Dec 2024)	0.79% (Nov 2025)	12.69 L	0.00	Small Cap	18.93
- Mphasis Ltd.	Computers - software & consulting	4.99	725.3	0.78%	0.00%	0.87% (Jul 2025)	0.46% (May 2025)	2.58 L	0.00	Mid Cap	11.71
Sai Life Sciences Ltd.	Petrochemicals	0.78	718.1	0.78%	-0.04%	0.82% (Oct 2025)	0.06% (Dec 2024)	8.12 L	0.00	Other	39.18
Ultratech Cement Ltd.	Cement & cement products	1.17	715.5	0.77%	-0.04%	0.99% (Apr 2025)	0.49% (Dec 2024)	61.68 k	0.00	Large Cap	27.52
Kaynes Technology India Private Ltd.	Industrial products	1.89	715	0.77%	-0.38%	1.68% (Dec 2024)	0.65% (Feb 2025)	1.30 L	-0.26 L	Other	39.18
InterGlobe Aviation Ltd.	Airline	0.77	714.1	0.77%	0.02%	0.92% (Aug 2025)	0.42% (Jan 2025)	1.21 L	0.00	Large Cap	27.52
Delhivery Ltd.	Logistics solution provider	0.77	708.1	0.77%	-0.08%	0.88% (Aug 2025)	0% (Dec 2024)	16.61 L	0.00	Other	39.18
Vishal Mega Mart Ltd.	Diversified retail	1.29	672.1	0.73%	-0.06%	1.05% (Jul 2025)	0.49% (Dec 2024)	49.49 L	0.00	Other	39.18
Bharat Heavy Electricals Ltd.	Heavy electrical equipment	3.88	663.6	0.72%	0.21%	0.72% (Nov 2025)	0% (Dec 2024)	22.81 L	5.25 L	Mid Cap	11.71
Awfis Space Solutions Ltd.	Diversified commercial services	1.16	659.5	0.71%	-0.10%	0.87% (Apr 2025)	0.52% (Dec 2024)	12.30 L	0.00	Other	39.18
Brigade Enterprises Ltd.	Residential, commercial projects	2.34	632.1	0.68%	-0.13%	1.96% (Dec 2024)	0.68% (Nov 2025)	7.06 L	0.00	Small Cap	18.93
Doms Industries Ltd.	Stationary	0.68	628.9	0.68%	-0.03%	0.93% (Mar 2025)	0.55% (Dec 2024)	2.51 L	0.00	Other	39.18
KEI Industries Ltd.	Cables - electricals	0.66	612.7	0.66%	0.01%	0.81% (Dec 2024)	0.53% (Mar 2025)	1.48 L	0.00	Small Cap	18.93
Dixon Technologies (India) Ltd.	Consumer electronics	1.53	604.6	0.65%	-0.06%	0.83% (Aug 2025)	0.36% (Dec 2024)	41.41 k	0.00	Other	39.18
Divis Laboratories Ltd.	Pharmaceuticals	4.13	601.8	0.65%	-0.04%	0.69% (Oct 2025)	0.48% (Sep 2025)	92.91 k	0.00	Large Cap	27.52
Berger Paints India Ltd.	Paints	0.65	600.9	0.65%	0.02%	0.86% (Apr 2025)	0.1% (Dec 2024)	10.64 L	0.00	Large Cap	27.52
J.b. Chemicals & Pharmaceuticals Ltd.	Pharmaceuticals	4.13	598.3	0.65%	0.03%	0.95% (Feb 2025)	0.49% (Jun 2025)	3.38 L	0.00	Other	39.18
ITC Limited	Diversified fmcg	1.08	592.6	0.64%	-0.04%	1.11% (Dec 2024)	0.64% (Nov 2025)	14.66 L	0.00	Large Cap	27.52
Hyundai Motor India Ltd.	Passenger cars & utility vehicles	3	590.4	0.64%	-0.04%	0.73% (Sep 2025)	0% (Dec 2024)	2.54 L	0.00	Other	39.18
UNO Minda Ltd.	Auto components & equipments	6.5	589.5	0.64%	0.03%	1.09% (Aug 2025)	0.45% (Feb 2025)	4.51 L	0.00	Small Cap	18.93
PG Electroplast Ltd.	Consumer electronics	1.53	574.1	0.62%	0.01%	1.29% (Mar 2025)	0.52% (Dec 2024)	9.72 L	0.00	Other	39.18
Sona BLW Precision Forgings Ltd.	Auto components & equipments	6.5	563.4	0.61%	0.04%	0.61% (Nov 2025)	0.19% (Jun 2025)	11.01 L	0.00	Other	39.18
Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	3	561.1	0.61%	-0.02%	0.66% (Sep 2025)	0% (Dec 2024)	35.29 k	0.00	Large Cap	27.52
Krishna Institute of Medical Sciences Ltd.	Hospital	3.84	542.3	0.59%	-0.04%	0.96% (Mar 2025)	0.59% (Nov 2025)	7.92 L	0.00	Other	39.18
Hitachi Energy India Ltd.	Heavy electrical equipment	3.88	533	0.58%	0.11%	0.82% (May 2025)	0.09% (Dec 2024)	24.17 k	0.00	Other	39.18
- Cholamandalam Investment & Finance Co. Ltd.	Non banking financial company (nbfc)	3.89	527.1	0.57%	0.00%	1.25% (Feb 2025)	0.52% (Aug 2025)	3.04 L	0.00	Other	39.18
Avenue Supermarts Ltd.	Diversified retail	1.29	521.5	0.56%	-0.07%	0.95% (Aug 2025)	0% (Dec 2024)	1.30 L	-7.81 k	Large Cap	27.52
Phoenix Mills Ltd.	Residential, commercial projects	2.34	505.5	0.55%	0.01%	1.31% (Feb 2025)	0.52% (Jul 2025)	2.91 L	0.00	Small Cap	18.93
Gabriel India Ltd.	Auto components & equipments	6.5	505.5	0.55%	-0.14%	0.69% (Oct 2025)	0% (Dec 2024)	4.91 L	0.00	Small Cap	18.93
Hindalco Industries Ltd.	Aluminium	0.54	501.2	0.54%	0.20%	0.54% (Nov 2025)	0.23% (Dec 2024)	6.20 L	2.50 L	Large Cap	27.52
Sagility India Ltd.	It enabled services	1.36	501.2	0.54%	0.20%	0.54% (Nov 2025)	0% (Dec 2024)	1.00 Cr	42.02 L	Other	39.18
Sun Pharmaceutical Industries Ltd.	Pharmaceuticals	4.13	500	0.54%	0.03%	0.89% (Dec 2024)	0.5% (Sep 2025)	2.73 L	0.00	Large Cap	27.52
- Pidilite Industries Ltd.	Specialty chemicals	1.27	498.4	0.54%	0.00%	0.71% (Apr 2025)	0% (Dec 2024)	3.39 L	0.00	Large Cap	27.52
HDFC Asset Management Co. Ltd.	Asset management company	0.53	492.4	0.53%	-0.01%	0.63% (Jul 2025)	0.4% (Feb 2025)	1.84 L	92.10 k	Large Cap	27.52
Tata Consumer Products Ltd.	Tea & coffee	1.02	474.4	0.51%	-0.01%	0.54% (Apr 2025)	0% (Dec 2024)	4.05 L	0.00	Mid Cap	11.71
V-Guard Industries Ltd.	Household appliances	1.74	474.2	0.51%	-0.04%	0.7% (Mar 2025)	0.51% (Nov 2025)	13.77 L	0.00	Small Cap	18.93
Titan Company Ltd.	Gems, jewellery and watches	0.51	474.1	0.51%	0.01%	0.59% (Feb 2025)	0.42% (Dec 2024)	1.21 L	0.00	Large Cap	27.52
Jindal Steel Ltd.	Iron & steel products	0.97	473.9	0.51%	-0.02%	0.56% (Sep 2025)	0.32% (Jan 2025)	4.54 L	0.00	Mid Cap	11.71
Voltamp Transformers Ltd.	Heavy electrical equipment	3.88	472	0.51%	0.04%	0.63% (Jun 2025)	0.25% (Feb 2025)	57.84 k	0.00	Small Cap	18.93
CCL Products (India) Ltd.	Tea & coffee	1.02	470.9	0.51%	0.07%	0.51% (Nov 2025)	0.29% (Mar 2025)	4.67 L	0.00	Small Cap	18.93
- Varun Beverages Ltd.	Other beverages	0.5	462.7	0.50%	0.00%	0.84% (Apr 2025)	0.44% (Feb 2025)	9.61 L	0.00	Other	39.18
Hindustan Aeronautics Ltd.	Aerospace & defense	1.64	456.9	0.49%	-0.03%	0.7% (May 2025)	0.1% (Feb 2025)	1.01 L	0.00	Other	39.18
Coromandel International Ltd.	Fertilizers	0.48	440.1	0.48%	0.05%	1% (Jul 2025)	0% (Dec 2024)	1.85 L	0.00	Mid Cap	11.71
Britannia Industries Ltd.	Packaged foods	0.47	438.5	0.47%	-0.01%	0.52% (Aug 2025)	0% (Dec 2024)	75.00 k	0.00	Large Cap	27.52
Welspun Corp Ltd.	Iron & steel products	0.97	429.6	0.46%	-0.07%	0.53% (Oct 2025)	0% (Dec 2024)	5.02 L	0.00	Small Cap	18.93
ITC Hotels Ltd	Hotels & resorts	0.85	428.8	0.46%	-0.03%	0.59% (Aug 2025)	0% (Dec 2024)	20.55 L	0.00	Other	39.18
Schaeffler India Ltd.	Auto components & equipments	6.5	422.2	0.46%	-0.02%	0.55% (May 2025)	0.45% (Mar 2025)	1.08 L	0.00	Other	39.18
- Jubilant Foodworks Ltd.	Restaurants	1.18	421.6	0.46%	0.00%	0.78% (Apr 2025)	0.46% (Nov 2025)	7.01 L	0.00	Other	39.18
Travel Food Services Ltd.	Restaurants	1.18	421.3	0.46%	-0.05%	0.54% (Sep 2025)	0% (Dec 2024)	3.13 L	-0.38 L	Other	39.18
- PB Fintech Ltd.	Financial technology (fintech)	0.8	420.1	0.45%	0.00%	0.52% (May 2025)	0.38% (Apr 2025)	2.31 L	0.00	Other	39.18
Wework India Management Ltd.	Diversified commercial services	1.16	415.8	0.45%	-0.04%	0.49% (Oct 2025)	0% (Dec 2024)	6.95 L	0.00	Other	39.18
- K.P.R. Mill Ltd.	Other textile products	0.45	411.7	0.45%	0.00%	0.55% (May 2025)	0% (Dec 2024)	3.81 L	0.00	Other	39.18
- Hindustan Unilever Ltd.	Diversified fmcg	1.08	402.3	0.44%	0.00%	0.48% (Sep 2025)	0% (Dec 2024)	1.63 L	0.00	Large Cap	27.52
# Indus Towers Ltd.	Telecom - infrastructure	0.43	393	0.43%	0.43%	0.43% (Nov 2025)	0% (Dec 2024)	9.80 L	9.80 L	Large Cap	27.52
Gland Pharma Ltd.	Pharmaceuticals	4.13	392.1	0.42%	-0.05%	0.55% (Jul 2025)	0% (Dec 2024)	2.23 L	0.00	Other	39.18
HDFC Life Insurance Company Ltd.	Life insurance	0.42	389.3	0.42%	0.01%	0.6% (Mar 2025)	0.41% (Oct 2025)	5.09 L	0.00	Large Cap	27.52
Tech Mahindra Ltd.	Computers - software & consulting	4.99	387.6	0.42%	0.02%	0.76% (Jun 2025)	0% (Dec 2024)	2.55 L	0.00	Large Cap	27.52
Ather Energy Ltd.	2/3 wheelers	1.41	386.3	0.42%	0.23%	0.42% (Nov 2025)	0% (Dec 2024)	5.38 L	2.90 L	Other	39.18
Rainbow Childrens Medicare Ltd.	Hospital	3.84	381	0.41%	-0.01%	0.57% (Mar 2025)	0.41% (Nov 2025)	2.82 L	0.00	Other	39.18
National Thermal Power Corporation Ltd.	Power generation	0.46	377.6	0.41%	-0.02%	0.69% (Jan 2025)	0.41% (Nov 2025)	11.57 L	0.00	Large Cap	27.52
Jubilant Ingrevia Ltd.	Specialty chemicals	1.27	376.2	0.41%	0.01%	0.5% (Jul 2025)	0% (Dec 2024)	5.31 L	0.00	Other	39.18
Lupin Ltd.	Pharmaceuticals	4.13	374.8	0.41%	0.02%	0.6% (Dec 2024)	0.39% (Oct 2025)	1.80 L	0.00	Large Cap	27.52
PNB Housing Finance Ltd.	Housing finance company	0.4	370.4	0.40%	0.08%	1.03% (May 2025)	0.28% (Aug 2025)	4.09 L	1.00 L	Mid Cap	11.71
J.K. Cement Ltd.	Cement & cement products	1.17	366.3	0.40%	-0.03%	0.53% (Aug 2025)	0.27% (Dec 2024)	63.61 k	0.00	Small Cap	18.93
Apollo Hospitals Enterprises Ltd.	Hospital	3.84	363.6	0.39%	-0.03%	0.45% (Aug 2025)	0% (Dec 2024)	49.56 k	0.00	Mid Cap	11.71
Chalet Hotels Ltd.	Hotels & resorts	0.85	360	0.39%	-0.03%	0.49% (Aug 2025)	0.39% (Nov 2025)	4.06 L	0.00	Other	39.18
Motherson Sumi Systems Ltd.	Auto components & equipments	6.5	351.3	0.38%	0.03%	0.38% (Nov 2025)	0.1% (Mar 2025)	30.20 L	0.00	Large Cap	27.52
# City Union Bank Ltd.	Private sector bank	14.26	335.6	0.36%	0.36%	0.36% (Nov 2025)	0% (Dec 2024)	12.38 L	12.38 L	Mid Cap	11.71
Narayana Hrudayalaya Ltd.	Hospital	3.84	334.4	0.36%	0.03%	0.71% (Jun 2025)	0.33% (Oct 2025)	1.72 L	0.00	Small Cap	18.93
KFIN Technologies Ltd.	Financial technology (fintech)	0.8	326.9	0.35%	-0.02%	0.44% (Jun 2025)	0% (Dec 2024)	3.09 L	0.00	Other	39.18
# Capillary Technologies India Ltd.	Software products	0.34	317.8	0.34%	0.34%	0.34% (Nov 2025)	0% (Dec 2024)	4.94 L	4.94 L	Other	39.18
Lenskart Solutions Ltd.	Speciality retail	0.67	311.8	0.34%	0.12%	0.34% (Nov 2025)	0% (Dec 2024)	7.60 L	2.67 L	Other	39.18
- Arvind Fashions Ltd.	Speciality retail	0.67	300.9	0.33%	0.00%	0.44% (Dec 2024)	0.32% (Mar 2025)	5.97 L	0.00	Other	39.18
- Vijaya Diagnostic Centre Ltd.	Healthcare service provider	0.33	300.7	0.33%	0.00%	0.43% (Mar 2025)	0% (Dec 2024)	3.01 L	0.00	Other	39.18
Galaxy Surfactants Ltd.	Specialty chemicals	1.27	294.2	0.32%	-0.04%	0.52% (Dec 2024)	0.32% (Nov 2025)	1.45 L	0.00	Small Cap	18.93
Prestige Estates Projects Ltd.	Residential, commercial projects	2.34	291.9	0.32%	-0.01%	0.64% (Dec 2024)	0.26% (Mar 2025)	1.74 L	0.00	Mid Cap	11.71
# Ashok Leyland Ltd.	Commercial vehicles	0.28	257.6	0.28%	0.28%	0.28% (Nov 2025)	0% (Dec 2024)	16.29 L	16.29 L	Mid Cap	11.71
National Securities Depository Ltd.	Depositories, clearing houses and other intermediaries	0.27	251.9	0.27%	-0.02%	0.48% (Aug 2025)	0% (Dec 2024)	2.26 L	0.00	Other	39.18
Torrent Pharmaceuticals Ltd.	Pharmaceuticals	4.13	251.2	0.27%	0.01%	0.3% (Jul 2025)	0.21% (May 2025)	67.52 k	0.00	Mid Cap	11.71
Pi Industries Ltd.	Pesticides & agrochemicals	0.27	246.6	0.27%	-0.04%	0.42% (Dec 2024)	0.27% (Nov 2025)	72.61 k	-6.92 k	Mid Cap	11.71
- LG Electronics India Pvt. Ltd.	Consumer electronics	1.53	240.5	0.26%	0.00%	0.26% (Oct 2025)	0% (Dec 2024)	1.45 L	0.00	Other	39.18
Sapphire Foods India Ltd.	Restaurants	1.18	237.7	0.26%	-0.04%	0.41% (Feb 2025)	0% (Dec 2024)	9.56 L	0.00	Other	39.18
Glenmark Pharmaceuticals Ltd.	Pharmaceuticals	4.13	233.5	0.25%	-0.16%	0.5% (Jul 2025)	0% (Dec 2024)	1.20 L	-0.75 L	Mid Cap	11.71
# Birlasoft Ltd.	Computers - software & consulting	4.99	213.7	0.23%	0.23%	0.23% (Nov 2025)	0% (Dec 2024)	5.62 L	5.62 L	Small Cap	18.93
Jyothy Laboratories Ltd.	Household products	0.2	181.2	0.20%	-0.01%	0.32% (Apr 2025)	0.2% (Mar 2025)	6.04 L	0.00	Small Cap	18.93
# Tenneco Clean Air India Ltd.	Auto components & equipments	6.5	147.8	0.16%	0.16%	0.16% (Nov 2025)	0% (Dec 2024)	3.05 L	3.05 L	Other	39.18
Suven Pharmaceuticals Ltd.	Pharmaceuticals	4.13	94.4	0.10%	-0.29%	0.48% (Sep 2025)	0% (Dec 2024)	1.67 L	-3.00 L	Other	39.18
- Godrej Consumer Products Ltd	Personal care	0.09	85.4	0.09%	0.00%	0.46% (Apr 2025)	0% (Dec 2024)	74.53 k	0.00	Large Cap	27.52
Rolex Rings Private Ltd.	Auto components & equipments	6.5	81.4	0.09%	-0.04%	0.29% (Dec 2024)	0.09% (Nov 2025)	7.98 L	-1.99 L	Other	39.18
- TTK Prestige Ltd.	Household appliances	1.74	53.7	0.06%	0.00%	0.09% (Dec 2024)	0.06% (Nov 2025)	83.43 k	0.00	Other	39.18
Siemens Energy India Ltd.	Power generation	0.46	43.4	0.05%	-0.52%	0.64% (Sep 2025)	0% (Dec 2024)	13.72 k	-1.48 L	Other	39.18
# TVS Motor Company Ltd. - Preference Shares	2/3 wheelers	1.41	10.6	0.01%	0.00%	0% (Dec 2025)	0% (Dec 2025)	10.43 L	0.00	Other	39.18
Granules India Ltd.	Pharmaceuticals	4.13	0.2	0.00%	-0.49%	1.37% (Jan 2025)	0% (Nov 2025)	361.00	-7.87 L	Small Cap	18.93
Cipla Ltd.	Pharmaceuticals	4.13	474.4	0.00%	-0.52%	-	-	-	-	Large Cap	27.52
Bajaj Auto Ltd.	2/3 wheelers	1.41	86	0.00%	-0.09%	-	-	-	-	Large Cap	27.52
Trent Limited	Speciality retail	0.67	475.5	0.00%	-0.52%	-	-	-	-	Mid Cap	11.71

- 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
# Tenneco Clean Air India Ltd.	Auto components & equipments	147.8	0.16%	0.16%	0.16% (Nov 2025)	0% (Dec 2024)	3.05 L	305331
# City Union Bank Ltd.	Private sector bank	335.6	0.36%	0.36%	0.36% (Nov 2025)	0% (Dec 2024)	12.38 L	1238171
# Capillary Technologies India Ltd.	Software products	317.8	0.34%	0.34%	0.34% (Nov 2025)	0% (Dec 2024)	4.94 L	493548
# Birlasoft Ltd.	Computers - software & consulting	213.7	0.23%	0.23%	0.23% (Nov 2025)	0% (Dec 2024)	5.62 L	561947
# Ashok Leyland Ltd.	Commercial vehicles	257.6	0.28%	0.28%	0.28% (Nov 2025)	0% (Dec 2024)	16.29 L	1629334
# Indus Towers Ltd.	Telecom - infrastructure	393	0.43%	0.43%	0.43% (Nov 2025)	0% (Dec 2024)	9.80 L	979803

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	1M Change in Qty
Cipla Ltd.	Pharmaceuticals	474.4	0.00%	-0.52%	0.81% (Feb 2025)	0% (Dec 2024)	-316004
Bajaj Auto Ltd.	2/3 wheelers	86	0.00%	-0.09%	0.68% (Dec 2024)	0% (Dec 2024)	-9667
Trent Limited	Speciality retail	475.5	0.00%	-0.52%	0.8% (Dec 2024)	0% (Dec 2024)	-101290

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
HDFC Bank Ltd.	5.89%	5.97%	6.07%	6.29%	6.80%	6.76%	7.13%	7.83%	5.85%	5.27%	4.86%	4.29%	3.57%
ICICI Bank Ltd.	3.57%	3.75%	3.81%	4.09%	4.36%	4.26%	4.65%	5.14%	4.85%	4.38%	4.29%	4.21%	4.41%
Reliance Industries Ltd.	3.43%	3.31%	3.08%	3.18%	3.27%	3.54%	3.56%	3.79%	2.84%	2.08%	2.07%	1.90%	2.09%
Fortis Healthcare Ltd.	2.09%	2.58%	2.58%	2.52%	2.27%	2.11%	2.00%	2.08%	2.40%	2.32%	2.28%	2.46%	2.32%
Bharti Airtel Ltd.	2.17%	2.15%	2.07%	2.16%	2.20%	2.31%	2.36%	2.55%	1.96%	1.95%	1.90%	1.78%	1.88%
Minda Corporation Ltd.	1.85%	1.83%	1.94%	1.77%	1.77%	1.86%	1.98%	1.98%	2.28%	2.23%	2.45%	1.97%	2.06%
Infosys Ltd.	1.33%	1.39%	1.62%	1.92%	1.98%	1.69%	1.37%	1.21%	1.48%	2.38%	2.75%	2.64%	2.39%
Blue Star Ltd.	1.17%	1.31%	1.34%	1.39%	1.29%	1.22%	1.21%	1.55%	2.74%	2.70%	2.41%	2.63%	2.35%
Persistent Systems Ltd.	0.90%	0.85%	0.73%	0.83%	0.81%	1.46%	1.37%	1.25%	2.52%	2.88%	3.08%	3.16%	2.77%
Mahindra & Mahindra Ltd.	1.75%	1.65%	1.71%	1.50%	1.36%	1.36%	1.35%	1.43%	1.35%	1.44%	2.43%	2.34%	2.39%
Bajaj Finance Ltd.	1.83%	1.87%	1.89%	1.72%	1.79%	1.84%	1.79%	1.91%	1.47%	1.54%	1.25%	0.89%	0.89%
State Bank Of India	1.62%	1.58%	1.55%	1.40%	1.40%	1.44%	1.52%	1.64%	1.55%	1.52%	1.61%	1.42%	1.54%
Eternal Ltd.	1.61%	1.94%	1.95%	1.95%	1.81%	1.09%	0.86%	0.69%	1.24%	-	-	-	-
Zomato Ltd.	-	-	-	-	-	-	-	-	-	1.31%	0.90%	1.44%	1.50%
Larsen & Toubro Ltd.	1.66%	1.45%	1.39%	1.41%	1.43%	1.29%	1.38%	1.35%	1.46%	1.45%	1.54%	1.50%	1.60%
Brigade Enterprises Ltd.	0.68%	0.81%	0.73%	0.78%	0.86%	1.46%	1.62%	1.64%	1.62%	1.72%	1.92%	1.96%	2.02%