Axis Small 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 : Small Cap Fund

Portfolio Turnover Ratio : 33.00%. Category average turnover ratio is 83.69%. 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 : 91.86% | F&O Holdings : 2.47%| Foreign Equity Holdings : 0.00%| Total : 94.33%

No of Stocks : 143 (Category Avg - 88.25) | Large Cap Investments : 3.04%| Mid Cap Investments : 5.96% | Small Cap Investments : 41.58% | Other : 43.77%

Portfolio Summary (as on 30th Nov,2025)

Particulars	This Scheme	Category
No. of Stocks	143	88.12
Top 5 Stock Weight	12.34%	14.95%
Top 10 Stock Weight	21.61%	25.76%
Top 3 Sector Weight	17.04%	20.31%

Category - Small Cap Fund

Particulars	This Scheme	Category
Average mcap (Cr)	16402.32	10068.26
Holdings in large cap stocks	3.04%	3.02%
Holdings in mid cap stocks	5.96%	9.66%
Holdings in small cap stocks	41.58%	43.98%

Category - Small 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
Krishna Institute of Medical Sciences Ltd.	Hospital	7293.4	2.72%	-0.11%	3.09% (Jul 2025)	2.6% (Dec 2024)	1.06 Cr	0.00
CCL Products (India) Ltd.	Tea & coffee	6952.9	2.60%	0.39%	2.6% (Nov 2025)	1.7% (Mar 2025)	68.94 L	-0.51 L
Multi Commodity Exchange Of India Ltd.	Exchange and data platform	6652.3	2.49%	0.23%	2.49% (Nov 2025)	1.35% (Mar 2025)	6.60 L	0.00
Nifty 50 : Futures Near	Exchange and data platform	6608.1	2.47%	0.07%	2.82% (Jun 2025)	0.96% (Dec 2024)	2.50 L	2.50 L
Brigade Enterprises Ltd.	Residential, commercial projects	5509.3	2.06%	-0.30%	3.12% (Jan 2025)	2.06% (Nov 2025)	61.55 L	0.00
City Union Bank Ltd.	Private sector bank	5340.1	1.99%	0.33%	1.99% (Nov 2025)	1.2% (Mar 2025)	1.97 Cr	0.00
J.b. Chemicals & Pharmaceuticals Ltd.	Pharmaceuticals	5286.9	1.98%	0.12%	2.02% (Jul 2025)	1.54% (Jun 2025)	29.85 L	0.00
Cholamandalam Financial Holdings Ltd.	Investment company	5111.2	1.91%	-0.05%	3.02% (Apr 2025)	1.91% (Nov 2025)	27.68 L	0.00
Blue Star Ltd.	Household appliances	4595.6	1.72%	-0.15%	3.91% (Dec 2024)	1.72% (Nov 2025)	26.03 L	0.00
Kaynes Technology India Private Ltd.	Industrial products	4462.8	1.67%	-0.35%	3.1% (Dec 2024)	1.67% (Nov 2025)	8.13 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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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
Krishna Institute of Medical Sciences Ltd.	Hospital	5.04	7293.4	2.72%	-0.11%	3.09% (Jul 2025)	2.6% (Dec 2024)	1.06 Cr	0.00	Other	43.77
CCL Products (India) Ltd.	Tea & coffee	3.08	6952.9	2.60%	0.39%	2.6% (Nov 2025)	1.7% (Mar 2025)	68.94 L	-0.51 L	Small Cap	41.58
Multi Commodity Exchange Of India Ltd.	Exchange and data platform	5.68	6652.3	2.49%	0.23%	2.49% (Nov 2025)	1.35% (Mar 2025)	6.60 L	0.00	Small Cap	41.58
Nifty 50 : Futures Near	Exchange and data platform	5.68	6608.1	2.47%	0.07%	2.82% (Jun 2025)	0.96% (Dec 2024)	2.50 L	2.50 L	Other	43.77
Brigade Enterprises Ltd.	Residential, commercial projects	4.21	5509.3	2.06%	-0.30%	3.12% (Jan 2025)	2.06% (Nov 2025)	61.55 L	0.00	Small Cap	41.58
City Union Bank Ltd.	Private sector bank	4.64	5340.1	1.99%	0.33%	1.99% (Nov 2025)	1.2% (Mar 2025)	1.97 Cr	0.00	Mid Cap	5.96
J.b. Chemicals & Pharmaceuticals Ltd.	Pharmaceuticals	5.07	5286.9	1.98%	0.12%	2.02% (Jul 2025)	1.54% (Jun 2025)	29.85 L	0.00	Other	43.77
Cholamandalam Financial Holdings Ltd.	Investment company	2.95	5111.2	1.91%	-0.05%	3.02% (Apr 2025)	1.91% (Nov 2025)	27.68 L	0.00	Small Cap	41.58
Blue Star Ltd.	Household appliances	3.16	4595.6	1.72%	-0.15%	3.91% (Dec 2024)	1.72% (Nov 2025)	26.03 L	0.00	Small Cap	41.58
Kaynes Technology India Private Ltd.	Industrial products	2.89	4462.8	1.67%	-0.35%	3.1% (Dec 2024)	1.67% (Nov 2025)	8.13 L	0.00	Other	43.77
PB Fintech Ltd.	Financial technology (fintech)	2.5	4141.3	1.55%	0.05%	2.04% (Dec 2024)	1.5% (Oct 2025)	22.77 L	0.00	Other	43.77
HDFC Bank Ltd.	Private sector bank	4.64	4098.5	1.53%	0.05%	1.68% (Feb 2025)	1.12% (Sep 2025)	40.68 L	0.00	Other	43.77
Can Fin Homes Ltd.	Housing finance company	3.36	3779.1	1.41%	0.04%	1.41% (Nov 2025)	1.2% (Aug 2025)	42.72 L	0.00	Small Cap	41.58
Minda Corporation Ltd.	Auto components & equipments	6.29	3353.4	1.25%	0.05%	1.42% (Jan 2025)	1.1% (Jul 2025)	57.69 L	0.00	Small Cap	41.58
Sai Life Sciences Ltd.	Petrochemicals	1.25	3335.2	1.25%	-0.03%	1.28% (Oct 2025)	0.26% (Dec 2024)	37.71 L	0.00	Other	43.77
Vesuvius India Ltd.	Electrodes & refractories	1.99	3295.4	1.23%	-0.03%	1.63% (May 2025)	1.23% (Nov 2025)	69.02 L	0.00	Other	43.77
J K Lakshmi Cement Ltd.	Cement & cement products	1.57	3263.6	1.22%	-0.16%	1.6% (Jul 2025)	1.22% (Nov 2025)	43.01 L	0.00	Small Cap	41.58
Narayana Hrudayalaya Ltd.	Hospital	5.04	3236.9	1.21%	0.13%	2.07% (Jun 2025)	1.08% (Oct 2025)	16.64 L	0.00	Small Cap	41.58
Ahluwalia Contracts (India) Ltd.	Civil construction	2.73	3204.9	1.20%	0.07%	1.48% (Dec 2024)	1.1% (Feb 2025)	32.20 L	0.00	Small Cap	41.58
Craftsman Automation Ltd.	Auto components & equipments	6.29	3150.6	1.18%	0.07%	1.21% (Aug 2025)	0.89% (Apr 2025)	4.49 L	0.00	Other	43.77
Karur Vysya Bank Ltd	Private sector bank	4.64	3008.6	1.12%	0.03%	1.12% (Nov 2025)	0.73% (Dec 2024)	1.21 Cr	0.00	Small Cap	41.58
Navin Flourine International Ltd.	Commodity chemicals	2.29	2997.7	1.12%	0.02%	1.12% (Nov 2025)	0.19% (Dec 2024)	5.23 L	0.00	Small Cap	41.58
Phoenix Mills Ltd.	Residential, commercial projects	4.21	2919.8	1.09%	0.05%	1.24% (Feb 2025)	0.95% (Jul 2025)	16.81 L	0.00	Small Cap	41.58
Galaxy Surfactants Ltd.	Specialty chemicals	4	2845.4	1.06%	-0.10%	1.47% (Feb 2025)	1.06% (Nov 2025)	14.06 L	0.00	Small Cap	41.58
Fine Organic Industries Ltd.	Specialty chemicals	4	2799.4	1.05%	0.01%	1.29% (Jul 2025)	1.04% (Oct 2025)	6.34 L	0.00	Small Cap	41.58
Mrs.Bectors Food Specialities Ltd.	Packaged foods	0.98	2629.4	0.98%	-0.02%	1.34% (Dec 2024)	0.98% (Sep 2025)	20.22 L	0.00	Other	43.77
KFIN Technologies Ltd.	Financial technology (fintech)	2.5	2548.4	0.95%	-0.03%	1.23% (Jun 2025)	0.68% (Feb 2025)	24.13 L	0.00	Other	43.77
Reliance Industries Ltd.	Refineries & marketing	0.94	2520.9	0.94%	0.51%	0.94% (Nov 2025)	0% (Dec 2024)	16.08 L	8.14 L	Large Cap	3.04
S.J.S. Enterprises Ltd.	Auto components & equipments	6.29	2334.8	0.87%	0.05%	0.87% (Nov 2025)	0.55% (Mar 2025)	13.77 L	0.00	Other	43.77
Doms Industries Ltd.	Stationary	0.83	2234.6	0.83%	-0.01%	0.93% (Mar 2025)	0.7% (Jun 2025)	8.90 L	0.00	Other	43.77
Laurus Labs Ltd.	Pharmaceuticals	5.07	2183.9	0.82%	0.07%	0.82% (Nov 2025)	0.21% (Dec 2024)	21.17 L	0.00	Other	43.77
Coforge Ltd.	Computers - software & consulting	2.94	2156.7	0.81%	0.06%	1.02% (Dec 2024)	0.69% (Sep 2025)	11.30 L	0.00	Other	43.77
Kalpataru Power Transmission Ltd.	Civil construction	2.73	2128.9	0.80%	-0.03%	0.87% (Aug 2025)	0% (Dec 2024)	17.75 L	0.00	Small Cap	41.58
Central Depository Services (India) Ltd.	Depositories, clearing houses and other intermediaries	1.56	2118.2	0.79%	0.02%	1.14% (Dec 2024)	0.73% (Aug 2025)	13.10 L	0.00	Small Cap	41.58
India Shelter Finance Corporation Ltd.	Housing finance company	3.36	2106.3	0.79%	0.01%	0.89% (Apr 2025)	0.68% (Jan 2025)	23.92 L	0.00	Other	43.77
L&T Finance Holdings Ltd.	Investment company	2.95	2099	0.78%	0.11%	0.78% (Nov 2025)	0.31% (Dec 2024)	67.20 L	0.00	Mid Cap	5.96
Data Patterns India Ltd.	Aerospace & defense	1.54	2097.3	0.78%	0.07%	0.8% (May 2025)	0.48% (Feb 2025)	7.06 L	0.00	Other	43.77
- Computer Age Management Services Pvt Ltd.	Depositories, clearing houses and other intermediaries	1.56	2055.2	0.77%	-0.01%	1.09% (Dec 2024)	0.76% (Jul 2025)	5.31 L	0.00	Other	43.77
CreditAccess Grameen Ltd.	Microfinance institutions	0.77	2049.3	0.77%	-0.04%	0.84% (Aug 2025)	0.55% (Dec 2024)	15.33 L	0.00	Small Cap	41.58
Syrma SGS Technology Ltd.	Industrial products	2.89	2037.6	0.76%	0.01%	0.76% (Nov 2025)	0% (Dec 2024)	24.84 L	0.00	Other	43.77
Orient Refractories Ltd.	Electrodes & refractories	1.99	2021.5	0.76%	-0.01%	0.97% (Mar 2025)	0.74% (Sep 2025)	43.54 L	0.00	Small Cap	41.58
Affle India Ltd.	It enabled services	1.75	2017.9	0.75%	-0.11%	0.92% (Jun 2025)	0.75% (Nov 2025)	12.15 L	0.00	Other	43.77
Sudarshan Chemical Industries Ltd.	Dyes and pigments	0.74	1971.3	0.74%	-0.09%	1.14% (Aug 2025)	0.74% (Nov 2025)	19.45 L	0.00	Small Cap	41.58
Vijaya Diagnostic Centre Ltd.	Healthcare service provider	0.73	1964.1	0.73%	0.01%	0.88% (Jan 2025)	0.7% (Dec 2024)	19.68 L	0.00	Other	43.77
Avalon Technologies Ltd.	Other electrical equipment	1.88	1955.2	0.73%	-0.16%	0.89% (Oct 2025)	0% (Dec 2024)	20.18 L	0.00	Other	43.77
Kirloskar Oil Engines Ltd.	Compressors, pumps & diesel engines	0.72	1937.1	0.72%	0.09%	0.72% (Nov 2025)	0.47% (Feb 2025)	17.22 L	0.00	Small Cap	41.58
Sagility India Ltd.	It enabled services	1.75	1925.2	0.72%	0.38%	0.72% (Nov 2025)	0% (Dec 2024)	3.84 Cr	2.10 Cr	Other	43.77
BSE Ltd.	Exchange and data platform	5.68	1914.4	0.72%	0.11%	1.67% (May 2025)	0.52% (Sep 2025)	6.60 L	0.00	Small Cap	41.58
Gokaldas Exports Ltd.	Garments & apparels	0.71	1890	0.71%	0.07%	0.71% (Nov 2025)	0.32% (Mar 2025)	20.38 L	0.00	Small Cap	41.58
Crompton Greaves Consumer Electricals Ltd.	Household appliances	3.16	1860.6	0.70%	-0.04%	1.09% (Mar 2025)	0.46% (Dec 2024)	70.12 L	0.00	Mid Cap	5.96
Jubilant Ingrevia Ltd.	Specialty chemicals	4	1825.5	0.68%	0.02%	0.77% (Jul 2025)	0% (Dec 2024)	25.78 L	0.00	Other	43.77
Tata Consultancy Services Ltd.	Computers - software & consulting	2.94	1820.4	0.68%	0.19%	0.68% (Nov 2025)	0.26% (Sep 2025)	5.80 L	1.43 L	Large Cap	3.04
Apar Industries Ltd.	Other electrical equipment	1.88	1786	0.67%	0.04%	0.81% (Dec 2024)	0.47% (Apr 2025)	1.95 L	0.00	Small Cap	41.58
Radico Khaitan Ltd.	Breweries & distilleries	0.66	1778.4	0.66%	0.02%	0.66% (Nov 2025)	0% (Dec 2024)	5.54 L	0.00	Small Cap	41.58
Sansera Engineering Ltd.	Auto components & equipments	6.29	1759.6	0.66%	0.09%	0.66% (Nov 2025)	0.4% (Apr 2025)	10.06 L	0.00	Other	43.77
Chemplast Sanmar Ltd.	Commodity chemicals	2.29	1648.2	0.62%	-0.24%	1.19% (Jan 2025)	0.62% (Nov 2025)	57.99 L	0.00	Other	43.77
Union Bank Of India	Public sector bank	0.62	1646.7	0.62%	0.03%	0.62% (Nov 2025)	0.45% (Dec 2024)	1.07 Cr	0.00	Mid Cap	5.96
Onesource Specialty Pharma Ltd.	Pharmaceuticals	5.07	1633.6	0.61%	-0.12%	0.81% (Jul 2025)	0.22% (Feb 2025)	10.66 L	0.00	Other	43.77
TBO TEK Ltd.	Tour, travel related services	0.6	1616	0.60%	0.07%	0.69% (Dec 2024)	0.47% (Apr 2025)	9.78 L	0.00	Other	43.77
Gujarat Fluorochemicals Ltd.	Specialty chemicals	4	1589.2	0.59%	-0.05%	0.66% (Sep 2025)	0.29% (Aug 2025)	4.64 L	0.00	Other	43.77
- Bharat Dynamics Ltd.	Aerospace & defense	1.54	1574.9	0.59%	0.00%	0.84% (May 2025)	0.47% (Dec 2024)	10.40 L	0.00	Other	43.77
Aptus Value Housing Finance India Ltd.	Housing finance company	3.36	1564.1	0.58%	-0.07%	0.7% (Jul 2025)	0% (Dec 2024)	56.04 L	0.00	Other	43.77
Devyani International Ltd.	Restaurants	0.57	1534.3	0.57%	-0.10%	0.77% (Aug 2025)	0.56% (Jan 2025)	1.13 Cr	0.00	Other	43.77
Rategain Travel Technologies Ltd.	Computers - software & consulting	2.94	1485.1	0.55%	0.06%	0.55% (Nov 2025)	0.24% (Jul 2025)	20.90 L	0.00	Other	43.77
Deepak Fertilisers & Petrochemicals Corp. Ltd.	Commodity chemicals	2.29	1476.6	0.55%	-0.04%	0.7% (Jun 2025)	0.49% (Feb 2025)	10.79 L	0.00	Small Cap	41.58
Arvind Fashions Ltd.	Speciality retail	1.1	1469.2	0.55%	0.01%	0.62% (Jul 2025)	0.48% (Mar 2025)	29.15 L	0.00	Other	43.77
Anant Raj Industries Ltd.	Residential, commercial projects	4.21	1463.1	0.55%	-0.06%	0.88% (Dec 2024)	0.49% (Apr 2025)	25.38 L	0.00	Small Cap	41.58
Welspun Corp Ltd.	Iron & steel products	0.55	1462.4	0.55%	-0.06%	0.62% (Mar 2025)	0.52% (Jan 2025)	17.08 L	0.00	Small Cap	41.58
CIE AUTOMOTIVE INDIA Ltd.	Auto components & equipments	6.29	1442.7	0.54%	-0.02%	0.76% (Dec 2024)	0% (Dec 2024)	35.05 L	0.00	Small Cap	41.58
Suven Pharmaceuticals Ltd.	Pharmaceuticals	5.07	1433.9	0.54%	-0.17%	0.86% (Sep 2025)	0.54% (Nov 2025)	25.41 L	0.00	Other	43.77
Inventurus Knowledge Solutions Ltd.	It enabled services – software	0.53	1427.8	0.53%	0.02%	0.53% (Nov 2025)	0.25% (May 2025)	8.50 L	0.00	Other	43.77
Grindwell Norton Ltd.	Abrasives & bearings	1.41	1393.5	0.52%	-0.04%	0.75% (Jan 2025)	0.52% (Nov 2025)	8.96 L	0.00	Small Cap	41.58
Mahanagar Gas Ltd.	Lpg/cng/png/lng supplier	0.52	1389.2	0.52%	-0.03%	0.6% (Jul 2025)	0.48% (Dec 2024)	11.57 L	0.00	Small Cap	41.58
Neogen Chemicals Ltd.	Specialty chemicals	4	1370.4	0.51%	-0.14%	1.1% (Dec 2024)	0.51% (Nov 2025)	12.18 L	0.00	Other	43.77
Chalet Hotels Ltd.	Hotels & resorts	0.51	1359.6	0.51%	-0.03%	0.61% (Aug 2025)	0.51% (Nov 2025)	15.34 L	0.00	Other	43.77
Mahindra Lifespace Developers Ltd.	Residential, commercial projects	4.21	1354.6	0.51%	0.05%	0.51% (Nov 2025)	0.23% (Mar 2025)	32.30 L	696.00	Small Cap	41.58
Carborundum Universal Ltd.	Abrasives & bearings	1.41	1337.2	0.50%	-0.02%	0.81% (Dec 2024)	0.5% (Nov 2025)	15.61 L	0.00	Small Cap	41.58
- R R Kabel Ltd.	Cables - electricals	0.69	1321	0.49%	0.00%	0.55% (Dec 2024)	0.39% (Mar 2025)	9.41 L	0.00	Other	43.77
Alembic Pharmaceuticals Ltd.	Pharmaceuticals	5.07	1320.4	0.49%	0.01%	0.62% (Dec 2024)	0.48% (Oct 2025)	14.55 L	0.00	Mid Cap	5.96
Tech Mahindra Ltd.	Computers - software & consulting	2.94	1317.5	0.49%	0.04%	0.63% (Jan 2025)	0.46% (Oct 2025)	8.68 L	0.00	Large Cap	3.04
Orient Electric Ltd.	Consumer electronics	1.35	1310.9	0.49%	-0.03%	0.67% (Apr 2025)	0.49% (Nov 2025)	67.42 L	0.00	Small Cap	41.58
Tata Consumer Products Ltd.	Tea & coffee	3.08	1293	0.48%	0.01%	0.55% (Apr 2025)	0.41% (Dec 2024)	11.03 L	0.00	Mid Cap	5.96
Premier Energies Ltd.	Other electrical equipment	1.88	1290.3	0.48%	-0.05%	0.53% (Oct 2025)	0.08% (Feb 2025)	13.22 L	0.00	Other	43.77
UNO Minda Ltd.	Auto components & equipments	6.29	1276.2	0.48%	0.03%	0.49% (Aug 2025)	0.37% (Apr 2025)	9.77 L	0.00	Small Cap	41.58
Amber Enterprises India Ltd.	Household appliances	3.16	1242.3	0.46%	-0.05%	0.54% (Sep 2025)	0.35% (Feb 2025)	1.73 L	0.00	Small Cap	41.58
Time Technoplast Ltd.	Plastic products - industrial	0.46	1239.5	0.46%	0.30%	0.46% (Nov 2025)	0% (Dec 2024)	61.82 L	41.77 L	Small Cap	41.58
Healthcare Global Enterprises Ltd.	Hospital	5.04	1234.5	0.46%	-0.01%	0.47% (Oct 2025)	0% (Dec 2024)	16.90 L	0.00	Small Cap	41.58
Ujjivan Small Finance Bank Ltd.	Other bank	0.48	1192.6	0.45%	0.06%	0.45% (Nov 2025)	0% (Dec 2024)	2.19 Cr	19.40 L	Other	43.77
Aditya Vision Ltd.	Speciality retail	1.1	1158.2	0.43%	-0.04%	0.48% (Sep 2025)	0% (Dec 2024)	22.11 L	0.00	Other	43.77
Hindalco Industries Ltd.	Aluminium	0.43	1156.1	0.43%	-0.02%	0.45% (Oct 2025)	0.35% (Dec 2024)	14.30 L	0.00	Large Cap	3.04
- Rainbow Childrens Medicare Ltd.	Hospital	5.04	1153.1	0.43%	0.00%	0.51% (Mar 2025)	0.43% (Nov 2025)	8.53 L	0.00	Other	43.77
Balrampur Chini Mills Ltd.	Sugar	0.43	1151	0.43%	-0.01%	0.46% (Jul 2025)	0.32% (Jan 2025)	25.72 L	0.00	Small Cap	41.58
Jyoti CNC Automation Ltd.	Industrial products	2.89	1118.2	0.42%	0.06%	0.42% (Nov 2025)	0% (Dec 2024)	11.07 L	0.00	Other	43.77
Birlasoft Ltd.	Computers - software & consulting	2.94	1088.7	0.41%	0.04%	0.64% (Jan 2025)	0.36% (Sep 2025)	28.63 L	1.99 L	Small Cap	41.58
# Tenneco Clean Air India Ltd.	Auto components & equipments	6.29	1071.1	0.40%	0.40%	0.4% (Nov 2025)	0% (Dec 2024)	22.13 L	22.13 L	Other	43.77
Timken India Ltd.	Abrasives & bearings	1.41	1036	0.39%	0.01%	0.44% (Jun 2025)	0.35% (Apr 2025)	3.28 L	0.00	Small Cap	41.58
Niva Bupa Health Insurance Company Ltd.	General insurance	0.39	1035.2	0.39%	0.00%	0.51% (May 2025)	0.38% (Oct 2025)	1.39 Cr	77.80 k	Other	43.77
PG Electroplast Ltd.	Consumer electronics	1.35	1029.3	0.38%	0.12%	0.39% (Dec 2024)	0.24% (Sep 2025)	17.42 L	5.00 L	Other	43.77
Cesc Ltd.	Integrated power utilities	0.38	1019.9	0.38%	0.06%	0.38% (Nov 2025)	0% (Dec 2024)	59.82 L	11.69 L	Other	43.77
Rolex Rings Private Ltd.	Auto components & equipments	6.29	1001.1	0.37%	-0.07%	0.76% (Jan 2025)	0.37% (Nov 2025)	98.13 L	0.00	Other	43.77
Jain Resource Recycling Ltd.	Diversified metals	0.37	978.6	0.37%	0.02%	0.37% (Nov 2025)	0% (Dec 2024)	24.56 L	0.00	Other	43.77
- PNB Housing Finance Ltd.	Housing finance company	3.36	959.5	0.36%	-0.01%	0.36% (Jul 2025)	0% (Dec 2024)	10.60 L	0.00	Mid Cap	5.96
PNC Infratech Ltd.	Civil construction	2.73	941.4	0.35%	-0.04%	0.52% (Jan 2025)	0.35% (Nov 2025)	38.05 L	0.00	Small Cap	41.58
Heidelberg Cement India Ltd.	Cement & cement products	1.57	926.1	0.35%	-0.02%	0.48% (Jan 2025)	0.35% (Nov 2025)	50.41 L	0.00	Small Cap	41.58
Ellenbarrie Industrial Gases Ltd.	Industrial gases	0.34	921.3	0.34%	-0.06%	0.47% (Aug 2025)	0% (Dec 2024)	23.45 L	0.00	Other	43.77
Havells India Ltd.	Consumer electronics	1.35	916.5	0.34%	-0.01%	0.44% (Apr 2025)	0.34% (Nov 2025)	6.36 L	0.00	Large Cap	3.04
Alicon Castalloy Ltd.	Auto components & equipments	6.29	904.7	0.34%	-0.01%	0.43% (Jan 2025)	0.29% (Mar 2025)	10.11 L	0.00	Small Cap	41.58
GE T&D India Ltd.	Heavy electrical equipment	0.62	853.6	0.32%	-0.01%	0.57% (Sep 2025)	0.32% (Nov 2025)	2.96 L	0.00	Small Cap	41.58
Jyothy Laboratories Ltd.	Household products	0.31	841.3	0.31%	-0.01%	0.48% (Jan 2025)	0.31% (Nov 2025)	28.04 L	0.00	Small Cap	41.58
Gland Pharma Ltd.	Pharmaceuticals	5.07	806	0.30%	-0.03%	0.36% (Jul 2025)	0% (Dec 2024)	4.58 L	0.00	Other	43.77
Titagarh Rail Systems Ltd.	Railway wagons	0.29	771.2	0.29%	-0.02%	0.33% (May 2025)	0.16% (Feb 2025)	9.33 L	0.00	Small Cap	41.58
Firstsource Solutions Ltd.	It enabled services	1.75	762.8	0.28%	0.00%	0.36% (Feb 2025)	0.28% (Sep 2025)	22.06 L	0.00	Small Cap	41.58
Whirlpool Of India Ltd.	Household appliances	3.16	744.7	0.28%	-0.08%	0.52% (Dec 2024)	0.28% (Nov 2025)	6.95 L	0.00	Mid Cap	5.96
JM Financial Ltd.	Investment company	2.95	692.7	0.26%	-0.03%	0.33% (Aug 2025)	0.2% (Mar 2025)	47.66 L	0.00	Small Cap	41.58
SBFC Finance Ltd.	Non banking financial company (nbfc)	0.26	692.6	0.26%	-0.01%	0.29% (May 2025)	0.23% (Dec 2024)	63.91 L	0.00	Other	43.77
Strides Pharma Science Ltd.	Pharmaceuticals	5.07	645.7	0.24%	-0.01%	0.25% (Oct 2025)	0.2% (Apr 2025)	7.35 L	0.00	Small Cap	41.58
Delhivery Ltd.	Logistics solution provider	0.4	637.4	0.24%	-0.02%	0.27% (Aug 2025)	0% (Dec 2024)	14.96 L	0.00	Other	43.77
KNR Constructions	Civil construction	2.73	620.5	0.23%	-0.03%	0.54% (Dec 2024)	0.23% (Nov 2025)	38.73 L	0.00	Small Cap	41.58
Aadhar Housing Finance Ltd.	Housing finance company	3.36	599.9	0.22%	0.01%	0.22% (Nov 2025)	0% (Dec 2024)	12.47 L	1.25 L	Other	43.77
Fortis Healthcare Ltd.	Hospital	5.04	593.7	0.22%	-0.02%	0.69% (Jul 2025)	0.22% (Nov 2025)	6.46 L	0.00	Other	43.77
CG Power and Industrial Solutions Ltd.	Heavy electrical equipment	0.62	578.2	0.22%	-0.02%	0.25% (Sep 2025)	0% (Dec 2024)	8.59 L	0.00	Small Cap	41.58
KEI Industries Ltd.	Cables - electricals	0.69	538.6	0.20%	0.01%	0.33% (Dec 2024)	0.19% (Jul 2025)	1.30 L	0.00	Small Cap	41.58
Suprajit Engineering Ltd.	Auto components & equipments	6.29	534.5	0.20%	0.01%	0.2% (Sep 2025)	0.12% (Mar 2025)	11.26 L	0.00	Small Cap	41.58
Midwest Ltd.	Granites & marbles	0.19	506.1	0.19%	0.04%	0.19% (Nov 2025)	0% (Dec 2024)	3.59 L	-1.00	Other	43.77
- PDS Ltd.	Trading - textile products	0.19	505.8	0.19%	0.00%	0.33% (Dec 2024)	0.17% (Sep 2025)	13.99 L	0.00	Other	43.77
Sharda Motor Industries Ltd.	Auto ancillaries	0.18	482.7	0.18%	-0.02%	0.21% (Sep 2025)	0.18% (Jun 2025)	5.17 L	0.00	Other	43.77
- Teamlease Services Ltd.	Diversified commercial services	0.17	446.6	0.17%	0.00%	0.32% (Dec 2024)	0.17% (Nov 2025)	2.71 L	0.00	Small Cap	41.58
- Azad Engineering Ltd.	Aerospace & defense	1.54	444.5	0.17%	0.00%	0.17% (Nov 2025)	0% (Dec 2024)	2.64 L	0.00	Other	43.77
Container Corporation Of India Ltd.	Logistics solution provider	0.4	429.7	0.16%	-0.01%	0.23% (Jan 2025)	0.16% (Nov 2025)	8.41 L	0.00	Large Cap	3.04
Aditya Birla Real Estate Ltd.	Paper & paper products	0.15	410.8	0.15%	-0.01%	0.22% (Jan 2025)	0% (Dec 2024)	2.32 L	0.00	Mid Cap	5.96
- Engineers India Ltd.	Civil construction	2.73	400.7	0.15%	0.00%	0.19% (May 2025)	0.14% (Feb 2025)	20.36 L	0.00	Small Cap	41.58
- LG Electronics India Pvt. Ltd.	Consumer electronics	1.35	371.4	0.14%	0.00%	0.14% (Nov 2025)	0% (Dec 2024)	2.24 L	0.00	Other	43.77
Electronics Mart lndia Ltd.	Speciality retail	1.1	315.1	0.12%	-0.03%	0.14% (Oct 2025)	0% (Dec 2024)	25.81 L	0.00	Other	43.77
- Prudent Corporate Advisory Services Ltd.	Financial products distributor	0.12	309.2	0.12%	0.00%	0.15% (May 2025)	0% (Dec 2024)	1.25 L	0.00	Other	43.77
- Aarti Industries Ltd.	Specialty chemicals	4	300.1	0.11%	0.00%	0.15% (May 2025)	0.11% (Oct 2025)	7.85 L	0.00	Mid Cap	5.96
Canara Robeco Asset Management Company Ltd.	Asset management company	0.11	292.2	0.11%	-0.02%	0.13% (Oct 2025)	0% (Dec 2024)	9.63 L	-1.66 L	Other	43.77
Happy Forgings Ltd.	Castings & forgings	0.11	285.4	0.11%	0.00%	0.13% (Jan 2025)	0.09% (Apr 2025)	2.75 L	0.00	Other	43.77
# Sudeep Pharma Ltd.	Pharmaceuticals	5.07	243.7	0.09%	0.09%	0.09% (Nov 2025)	0% (Dec 2024)	3.15 L	3.15 L	Other	43.77
- Atlanta Electricals Ltd	Heavy electrical equipment	0.62	216.7	0.08%	0.00%	0.08% (Oct 2025)	0% (Dec 2024)	2.29 L	0.00	Other	43.77
# Ather Energy Ltd.	2/3 wheelers	0.06	159.1	0.06%	0.06%	0.06% (Nov 2025)	0% (Dec 2024)	2.22 L	2.22 L	Other	43.77
- Aditya Infotech Ltd.	Industrial products	2.89	115.4	0.04%	0.01%	0.04% (Nov 2025)	0% (Dec 2024)	75.20 k	0.00	Other	43.77
# Equitas Small Finance Bank Ltd.	Other bank	0.48	84.5	0.03%	0.03%	0.03% (Nov 2025)	0% (Dec 2024)	13.18 L	13.18 L	Other	43.77
- Hi-Tech Pipes Ltd.	Commodities	0.01	29.1	0.01%	0.00%	0.01% (Oct 2025)	0% (Dec 2024)	2.89 L	0.00	Other	43.77
Vst Industries Ltd.	Cigarettes & tobacco products		51.8	0.00%	-0.02%	-	-	-	-	Small Cap	41.58
Ajax Engineering Ltd.	Construction vehicles		53.4	0.00%	-0.02%	-	-	-	-	Other	43.77
EPL Ltd.	Packaging		229.9	0.00%	-0.08%	-	-	-	-	Small Cap	41.58

- 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	1071.1	0.40%	0.40%	0.4% (Nov 2025)	0% (Dec 2024)	22.13 L	2213157
# Sudeep Pharma Ltd.	Pharmaceuticals	243.7	0.09%	0.09%	0.09% (Nov 2025)	0% (Dec 2024)	3.15 L	314749
# Ather Energy Ltd.	2/3 wheelers	159.1	0.06%	0.06%	0.06% (Nov 2025)	0% (Dec 2024)	2.22 L	221535
# Equitas Small Finance Bank Ltd.	Other bank	84.5	0.03%	0.03%	0.03% (Nov 2025)	0% (Dec 2024)	13.18 L	1317582

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
Vst Industries Ltd.	Cigarettes & tobacco products	51.8	0.00%	-0.02%	0.26% (Dec 2024)	0% (Dec 2024)	-198326
Ajax Engineering Ltd.	Construction vehicles	53.4	0.00%	-0.02%	0.14% (Aug 2025)	0% (Dec 2024)	-86969
EPL Ltd.	Packaging	229.9	0.00%	-0.08%	0.17% (Dec 2024)	0% (Dec 2024)	-1140614

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
Krishna Institute of Medical Sciences Ltd.	2.72%	2.84%	2.87%	3.01%	3.09%	2.75%	2.94%	3.03%	3.03%	2.68%	2.83%	2.60%	2.61%
Blue Star Ltd.	1.72%	1.86%	1.89%	1.92%	1.73%	1.95%	2.17%	2.80%	3.64%	3.87%	3.32%	3.91%	3.51%
Brigade Enterprises Ltd.	2.06%	2.36%	2.12%	2.22%	2.37%	2.59%	2.69%	2.72%	2.65%	2.78%	3.12%	3.09%	3.14%
Cholamandalam Financial Holdings Ltd.	1.91%	1.96%	2.08%	1.93%	2.32%	2.88%	2.67%	3.02%	2.91%	2.96%	2.48%	2.13%	2.53%
Kaynes Technology India Private Ltd.	1.67%	2.01%	2.21%	1.95%	1.92%	1.88%	2.18%	2.25%	2.16%	2.05%	2.14%	3.10%	2.62%
CCL Products (India) Ltd.	2.60%	2.21%	2.26%	2.37%	2.27%	2.24%	2.45%	1.76%	1.70%	1.92%	1.87%	2.08%	2.26%
J.b. Chemicals & Pharmaceuticals Ltd.	1.98%	1.86%	1.96%	2.01%	2.02%	1.54%	1.61%	1.67%	1.72%	1.89%	1.84%	1.80%	1.72%
Multi Commodity Exchange Of India Ltd.	2.49%	2.26%	1.98%	1.91%	1.94%	2.25%	1.72%	1.72%	1.35%	1.38%	1.44%	1.46%	1.47%
PB Fintech Ltd.	1.55%	1.50%	1.57%	1.66%	1.66%	1.65%	1.68%	1.67%	1.67%	1.67%	1.78%	2.04%	2.02%
Narayana Hrudayalaya Ltd.	1.21%	1.08%	1.32%	1.69%	1.85%	2.07%	1.76%	1.91%	1.88%	1.74%	1.51%	1.30%	1.31%
HDFC Bank Ltd.	1.53%	1.48%	1.12%	1.51%	1.57%	1.54%	1.58%	1.68%	1.64%	1.68%	1.49%	1.46%	1.50%
J K Lakshmi Cement Ltd.	1.22%	1.38%	1.42%	1.55%	1.60%	1.47%	1.45%	1.43%	1.47%	1.38%	1.50%	1.45%	1.38%
City Union Bank Ltd.	1.99%	1.66%	1.62%	1.51%	1.43%	1.44%	1.36%	1.31%	1.20%	1.22%	1.30%	1.21%	1.28%
Vesuvius India Ltd.	1.23%	1.26%	1.36%	1.36%	1.36%	1.45%	1.63%	1.37%	1.38%	1.31%	1.28%	1.27%	1.52%
Galaxy Surfactants Ltd.	1.06%	1.16%	1.19%	1.25%	1.43%	1.39%	1.29%	1.25%	1.27%	1.47%	1.45%	1.43%	1.62%

No of Debt Holding 1 (Category Avg - 0.84) | Modified Duration 0.00 Years (Category Avg - - --)| Yield to Maturity - -- (Category Avg - 0.00%)

Portfolio Summary (as on 30th Nov,2025)

Security Type	% Weight	Category Average
CD	0.00%	0.05%
T-Bills	0.60%	0.25%
CP	0.00%	0.03%

Category - Small Cap Fund

Security Type	% Weight	Category Average
Government Backed	0.60%	0.25%
Low Risk	0.00%	0.00%
Moderate Risk	0.00%	0.00%
High Risk	0.00%	0.00%
Very High Risk	0.00%	0.00%
Others	0.00%	0.00%

Category - Small Cap Fund

Debt holding in Portfolio (as on 30th Nov,2025)

Instrument	Type	Sector	Rating	Rating Agency	Value (Mn)	% of Total Holding	Quantity
Bond - T-Bill	T-Bills	Other			1596.08	0.60%	1.60 Cr

Name	Type of Instrument	Weight (%)
TREPS	TREPS	7.51%
Net Receivables	Net Receivables	-2.44%

Axis Small Cap Fund - Direct Plan - Growth

Portfolio Summary (as on 30th Nov,2025)

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

Complete equity Portfolio (as on 30th Nov,2025)

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

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

Trend in stock holdings (Top 15 Holding)

Portfolio Summary (as on 30th Nov,2025)

Debt holding in Portfolio (as on 30th Nov,2025)

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