DSP Multi Asset Allocation 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.

Equity Holding : 38.38% | F&O Holdings : 0.01%| Foreign Equity Holdings : 12.01%| Total : 50.40%

No of Stocks : 49 (Category Avg - 67.50) | Large Cap Investments : 22.75%| Mid Cap Investments : 4.65% | Small Cap Investments : 1.49% | Other : 21.51%

Portfolio Summary (as on 30th Nov,2025)

Particulars	This Scheme	Category
No. of Stocks	49	64.72
Top 5 Stock Weight	14.36%	16.2%
Top 10 Stock Weight	22.5%	24.67%
Top 3 Sector Weight	25.6%	18.61%

Category - Multi Asset Allocation

Particulars	This Scheme	Category
Average mcap (Cr)	35560.35	72636.78
Holdings in large cap stocks	22.75%	29.54%
Holdings in mid cap stocks	4.65%	6.05%
Holdings in small cap stocks	1.49%	4.08%

Category - Multi Asset Allocation

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	2493.8	4.46%	0.00%	5.82% (Nov 2024)	3.4% (Jul 2025)	24.75 L	3.00 L
# Bharti Airtel Ltd.	Telecom - cellular & fixed line services	1583.4	2.83%	0.00%	2.73% (Oct 2025)	0% (Nov 2024)	7.53 L	90.00 k
# Infosys Ltd.	Computers - software & consulting	1507.5	2.70%	0.00%	2.53% (Oct 2025)	1.54% (Jun 2025)	9.66 L	1.15 L
# ICICI Bank Ltd.	Private sector bank	1229.6	2.20%	0.00%	5.36% (Nov 2024)	2.39% (Oct 2025)	8.85 L	0.00
# Axis Bank Ltd.	Private sector bank	1214.4	2.17%	0.00%	1.48% (Sep 2025)	0.99% (Jun 2025)	9.49 L	3.75 L
# HCL Technologies Limited	Computers - software & consulting	1149	2.06%	0.00%	2.01% (Jan 2025)	1.19% (Jul 2025)	7.07 L	2.20 L
# Angel One Ltd.	Stockbroking & allied	886.4	1.59%	0.00%	1.74% (May 2025)	0% (Nov 2024)	3.28 L	0.00
# SK Hynix Inc	Foreign equity	854	1.53%	0.00%	1.85% (Oct 2025)	0% (Nov 2024)	26.50 k	0.00
# Microsoft Corp	Foreign equity	824.5	1.48%	0.00%	2.05% (Jul 2025)	1.19% (Mar 2025)	18.73 k	2.72 k
# Indus Towers Ltd.	Telecom - infrastructure	824.6	1.48%	0.00%	1.53% (Apr 2025)	0% (Nov 2024)	20.56 L	2.00 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
# HDFC Bank Ltd.	Private sector bank	8.83	2493.8	4.46%	0.00%	5.82% (Nov 2024)	3.4% (Jul 2025)	24.75 L	3.00 L	Other	21.51
# Bharti Airtel Ltd.	Telecom - cellular & fixed line services	2.83	1583.4	2.83%	0.00%	2.73% (Oct 2025)	0% (Nov 2024)	7.53 L	90.00 k	Large Cap	22.75
# Infosys Ltd.	Computers - software & consulting	4.76	1507.5	2.70%	0.00%	2.53% (Oct 2025)	1.54% (Jun 2025)	9.66 L	1.15 L	Large Cap	22.75
# ICICI Bank Ltd.	Private sector bank	8.83	1229.6	2.20%	0.00%	5.36% (Nov 2024)	2.39% (Oct 2025)	8.85 L	0.00	Large Cap	22.75
# Axis Bank Ltd.	Private sector bank	8.83	1214.4	2.17%	0.00%	1.48% (Sep 2025)	0.99% (Jun 2025)	9.49 L	3.75 L	Large Cap	22.75
# HCL Technologies Limited	Computers - software & consulting	4.76	1149	2.06%	0.00%	2.01% (Jan 2025)	1.19% (Jul 2025)	7.07 L	2.20 L	Large Cap	22.75
# Angel One Ltd.	Stockbroking & allied	1.59	886.4	1.59%	0.00%	1.74% (May 2025)	0% (Nov 2024)	3.28 L	0.00	Other	21.51
# SK Hynix Inc	Foreign equity	12.01	854	1.53%	0.00%	1.85% (Oct 2025)	0% (Nov 2024)	26.50 k	0.00	Other	21.51
# Microsoft Corp	Foreign equity	12.01	824.5	1.48%	0.00%	2.05% (Jul 2025)	1.19% (Mar 2025)	18.73 k	2.72 k	Other	21.51
# Indus Towers Ltd.	Telecom - infrastructure	1.48	824.6	1.48%	0.00%	1.53% (Apr 2025)	0% (Nov 2024)	20.56 L	2.00 L	Large Cap	22.75
# GAIL (India) Ltd.	Gas transmission/marketing	1.37	767.3	1.37%	0.00%	1.58% (Nov 2024)	1.12% (Feb 2025)	43.57 L	3.50 L	Large Cap	22.75
# Mahindra & Mahindra Financial Services Ltd.	Non banking financial company (nbfc)	1.32	738.7	1.32%	0.00%	1.26% (Oct 2025)	0% (Nov 2024)	19.86 L	0.00	Mid Cap	4.65
# Amazon.com	Foreign equity	12.01	715.7	1.28%	0.00%	1.54% (Jul 2025)	0% (Nov 2024)	34.31 k	6.88 k	Other	21.51
# Hindustan Petroleum Corporation Ltd.	Refineries & marketing	1.27	709.7	1.27%	0.00%	1.19% (Oct 2025)	0.71% (Feb 2025)	15.51 L	3.00 L	Large Cap	22.75
# Bajaj Finserv Ltd	Holding company	1.2	672	1.20%	0.00%	1.82% (Feb 2025)	1.34% (Oct 2025)	3.21 L	0.00	Other	21.51
# Alibaba Group Holding Ltd.	Foreign equity	12.01	671.5	1.20%	0.00%	1.95% (Feb 2025)	0.95% (Aug 2025)	3.86 L	1.04 L	Other	21.51
# Sun Pharmaceutical Industries Ltd.	Pharmaceuticals	1.56	622.2	1.11%	0.00%	1.31% (Dec 2024)	0.58% (Oct 2025)	3.40 L	1.70 L	Large Cap	22.75
# Power Grid Corporation of India Ltd.	Power - transmission	1.07	597.1	1.07%	0.00%	1.81% (Nov 2024)	1.19% (Jul 2025)	22.12 L	1.00 L	Large Cap	22.75
# Novo Nordisk A/S	Foreign equity	12.01	558.8	1.00%	0.00%	0% (Dec 2025)	0% (Dec 2025)	1.27 L	25.25 k	Other	21.51
# Motherson Sumi Systems Ltd.	Auto components & equipments	2.11	549.8	0.98%	0.00%	1% (Sep 2025)	0.38% (Feb 2025)	47.27 L	5.82 L	Large Cap	22.75
# Oil India Ltd.	Oil exploration & production	0.95	528.8	0.95%	0.00%	0.74% (Oct 2025)	0.2% (Sep 2025)	12.80 L	4.28 L	Mid Cap	4.65
# TENCENT HOLDINGS LTD	Foreign equity	12.01	528.3	0.95%	0.00%	1.51% (Feb 2025)	0.92% (Oct 2025)	75.20 k	11.20 k	Other	21.51
# Sony Corp.	Foreign equity	12.01	525	0.94%	0.00%	1.04% (Apr 2025)	0% (Nov 2024)	2.01 L	41.00 k	Other	21.51
# LOREAL	Foreign equity	12.01	483.3	0.87%	0.00%	0.95% (Jun 2025)	0% (Nov 2024)	12.42 k	3.64 k	Other	21.51
# Jindal Steel Ltd.	Iron & steel products	1.3	488.4	0.87%	0.00%	0.57% (Nov 2024)	0.36% (Sep 2025)	4.68 L	2.25 L	Mid Cap	4.65
# Oberoi Realty Ltd.	Residential, commercial projects	0.87	487.3	0.87%	0.00%	1.3% (Mar 2025)	0% (Nov 2024)	2.96 L	0.00	Mid Cap	4.65
# Contemporary Amperex Technology Co Ltd	Foreign equity	12.01	479.2	0.86%	0.00%	1.16% (Sep 2025)	0% (Nov 2024)	1.02 L	0.00	Other	21.51
# LT Foods Ltd.	Packaged foods	0.84	468.6	0.84%	0.00%	0.97% (Jun 2025)	0% (Nov 2024)	11.48 L	98.57 k	Small Cap	1.49
# Hindalco Industries Ltd.	Aluminium	0.82	460.8	0.82%	0.00%	1.64% (Nov 2024)	0.97% (Oct 2025)	5.70 L	0.00	Large Cap	22.75
# Hindustan Zinc Ltd.	Zinc	0.76	427	0.76%	0.00%	0.84% (Oct 2025)	0% (Nov 2024)	8.80 L	0.00	Large Cap	22.75
# Schneider Electric SA	Foreign equity	12.01	419.8	0.75%	0.00%	1.02% (May 2025)	0% (Nov 2024)	17.54 k	0.00	Other	21.51
# Craftsman Automation Ltd.	Auto components & equipments	2.11	369.6	0.66%	0.00%	0.64% (Sep 2025)	0.38% (Jan 2025)	52.61 k	5.50 k	Other	21.51
# Nike Inc	Foreign equity	12.01	348.6	0.62%	0.00%	1.09% (Jun 2025)	0.65% (Mar 2025)	60.30 k	0.00	Other	21.51
# Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	0.94	332.5	0.60%	0.00%	1.01% (Jan 2025)	0.68% (Oct 2025)	20.91 k	0.00	Large Cap	22.75
# Hero Motocorp Ltd.	2/3 wheelers	0.52	291.7	0.52%	0.00%	0.96% (Nov 2024)	0.53% (Oct 2025)	47.24 k	0.00	Large Cap	22.75
# Brookfield Corporation	Foreign equity	12.01	286.1	0.51%	0.00%	1.33% (Jul 2025)	0% (Nov 2024)	68.04 k	-0.56 L	Other	21.51
# Godrej Consumer Products Ltd	Personal care	0.47	263.9	0.47%	0.00%	1.22% (Nov 2024)	0.52% (Oct 2025)	2.30 L	0.00	Large Cap	22.75
# CIE AUTOMOTIVE INDIA Ltd.	Auto components & equipments	2.11	261.2	0.47%	0.00%	0.74% (Nov 2024)	0% (Nov 2024)	6.35 L	76.38 k	Small Cap	1.49
# NMDC LTD	Industrial minerals	0.46	255	0.46%	0.00%	1.12% (Nov 2024)	0.52% (Oct 2025)	34.50 L	0.00	Mid Cap	4.65
# Tata Steel Ltd.	Iron & steel products	1.3	238.8	0.43%	0.00%	0.62% (Jul 2025)	0.46% (Apr 2025)	14.22 L	0.00	Other	21.51
# Tata Motors Passenger Vehicles Ltd.	Passenger cars & utility vehicles	0.94	190.2	0.34%	0.00%	1.5% (Jan 2025)	0% (Nov 2024)	5.33 L	0.00	Large Cap	22.75
# TML Commercial Vehicles Ltd.	Commercial vehicles	0.34	187.6	0.34%	0.00%	0.28% (Oct 2025)	0% (Nov 2024)	5.33 L	0.00	Other	21.51
# Archean Chemical Industries Ltd.	Specialty chemicals	0.3	170.2	0.30%	0.00%	0.56% (Jul 2025)	0.28% (Mar 2025)	3.32 L	0.00	Other	21.51
# Ipca Laboratories Ltd.	Pharmaceuticals	1.56	149.3	0.27%	0.00%	0.71% (Dec 2024)	0.26% (Oct 2025)	1.03 L	0.00	Other	21.51
# Sapphire Foods India Ltd.	Restaurants	0.24	135.5	0.24%	0.00%	0.75% (Nov 2024)	0.31% (Oct 2025)	5.45 L	0.00	Other	21.51
# Alembic Pharmaceuticals Ltd.	Pharmaceuticals	1.56	102.1	0.18%	0.00%	0.52% (Nov 2024)	0.2% (Oct 2025)	1.12 L	0.00	Mid Cap	4.65
# GMM Pfaudler Ltd.	Industrial products	0.18	99.6	0.18%	0.00%	0.46% (Nov 2024)	0.21% (Sep 2025)	88.73 k	0.00	Small Cap	1.49
# Sony Financial Holdings INC NPV	Foreign equity	12.01	13.5	0.02%	0.00%	0.04% (Sep 2025)	0% (Nov 2024)	1.60 L	0.00	Other	21.51
Nifty 50 : Put Options	Exchange and data platform	0.01	3.5	0.01%	0.00%	0% (Dec 2025)	0% (Dec 2025)	3.19 L	3.19 L	Other	21.51

- 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
# Bond - Muthoot Finance Pvt. Ltd.	Non banking financial company (nbfc)	500.4	0.90%	0.90%	0% (Dec 2025)	0% (Dec 2025)	5.00 k	5000
# Bond - Rural Electrification Corporation Limited	Financial institution	515.4	0.92%	0.92%	0% (Dec 2025)	0% (Dec 2025)	5.00 k	5000

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
No complete exits in the portfolio in the last month.

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.	4.46%	4.31%	3.84%	3.59%	3.40%	3.63%	3.78%	4.00%	5.01%	5.08%	5.11%	5.53%	5.82%
ICICI Bank Ltd.	2.20%	2.39%	2.71%	3.19%	3.34%	3.52%	3.76%	3.97%	4.70%	4.49%	4.80%	5.09%	5.36%
Bharti Airtel Ltd.	2.83%	2.73%	2.19%	2.23%	1.89%	-	-	-	-	-	-	-	-
Infosys Ltd.	2.70%	2.53%	2.22%	2.32%	1.86%	1.54%	1.61%	1.65%	1.83%	2.10%	2.41%	2.01%	2.06%
HCL Technologies Limited	2.06%	1.51%	1.20%	1.38%	1.19%	1.51%	1.53%	1.57%	1.69%	1.79%	2.01%	1.85%	1.85%
ITC Limited	-	-	-	-	-	-	-	-	1.23%	1.26%	1.47%	1.93%	1.97%
Bajaj Finserv Ltd	1.20%	1.34%	1.46%	1.44%	1.45%	1.54%	1.62%	1.67%	1.82%	1.82%	1.73%	1.62%	1.70%
Angel One Ltd.	1.59%	1.64%	1.01%	1.18%	1.38%	1.57%	1.74%	1.42%	1.51%	1.25%	1.39%	-	-
Power Grid Corporation of India Ltd.	1.07%	1.22%	1.35%	1.29%	1.19%	1.32%	1.37%	1.55%	1.55%	1.24%	1.54%	1.63%	1.81%
GAIL (India) Ltd.	1.37%	1.47%	1.41%	1.33%	1.32%	1.24%	1.32%	1.41%	1.44%	1.12%	1.30%	1.45%	1.58%
Indus Towers Ltd.	1.48%	1.35%	1.13%	1.12%	1.28%	1.38%	1.35%	1.53%	1.33%	1.18%	1.30%	-	-
Axis Bank Ltd.	2.17%	1.42%	1.48%	1.39%	1.21%	0.99%	1.05%	1.12%	1.10%	1.09%	1.09%	1.22%	1.35%
Hindalco Industries Ltd.	0.82%	0.97%	0.99%	1.03%	1.07%	1.33%	1.30%	1.37%	1.59%	1.43%	1.38%	1.45%	1.64%
Oberoi Realty Ltd.	0.87%	1.06%	1.06%	1.23%	1.17%	1.25%	1.23%	1.23%	1.30%	1.03%	1.29%	-	-
Tata Motors Passenger Vehicles Ltd.	0.34%	0.44%	-	-	-	-	-	-	-	-	-	-	-
Tata Motors Ltd.	-	-	0.82%	0.92%	0.97%	1.09%	1.21%	1.16%	1.29%	1.27%	1.50%	-	-

No of Debt Holding 15 (Category Avg - 17.91) | Modified Duration 5.10 Years (Category Avg - 2.55)| Yield to Maturity 6.60% (Category Avg - 6.49%)

Portfolio Summary (as on 30th Nov,2025)

Security Type	% Weight	Category Average
GOI	9.59%	6.86%
CD	0.00%	0.71%
T-Bills	0.00%	0.67%
CP	0.00%	0.45%
NCD & Bonds	5.53%	7.94%
PTC	0.00%	0.08%

Category - Multi Asset Allocation

Security Type	% Weight	Category Average
Government Backed	9.59%	7.53%
Low Risk	5.53%	9.00%
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 - Multi Asset Allocation

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

Instrument	Type	Sector	Rating	Rating Agency	Value (Mn)	% of Total Holding	Quantity
Bond - Govt of India	GOI	Other			1325.00	2.37%	1.40 Cr
Bond - Govt of India	GOI	Other			1265.20	2.26%	1.25 Cr
Bond - Govt of India	GOI	Other			1096.30	1.96%	1.10 Cr
Bond - Bharti Telecom Ltd.	NCD & Bonds	Telecom - equipment & accessories	AAA	CRISIL	759.13	1.36%	7.50 k
Bond - Bharti Telecom Ltd.	NCD & Bonds	Telecom - equipment & accessories	AAA	CRISIL	553.22	0.99%	5.00 k
Bond - Rural Electrification Corporation Limited	NCD & Bonds	Financial institution	AAA	CRISIL	515.37	0.92%	5.00 k
Bond - Muthoot Finance Pvt. Ltd.	NCD & Bonds	Non banking financial company (nbfc)	AA+	CRISIL	500.43	0.90%	5.00 k
Bond - Govt of India	GOI	Other			503.24	0.90%	50.00 L
Bond - Govt of India	GOI	Other			501.91	0.90%	50.00 L
Bond - Govt of India	GOI	Other			262.56	0.47%	25.00 L
Bond - Power Finance Corporation Ltd.	NCD & Bonds	Financial institution	AAA	CRISIL	254.50	0.46%	2.50 k
Bond - Power Finance Corporation Ltd.	NCD & Bonds	Financial institution	AAA	CRISIL	253.35	0.45%	250.00
Bond - National Bank for Agriculture & Rural Development	NCD & Bonds	Financial institution	LAAA	ICRA	251.97	0.45%	2.50 k
Bond - Govt of India	GOI	Other			252.05	0.45%	25.00 L
Bond - Govt of India	GOI	Other			155.66	0.28%	15.00 L

Name	Type of Instrument	Weight (%)
MF Units	MF Units	10.34%
MF Units	MF Units	5.10%
TREPS	TREPS	3.58%
MF Units	MF Units	3.30%
Embassy Office Parks Reit	InvITs	2.71%
MF Units	MF Units	2.00%
MF Units	MF Units	1.62%
MF Units	MF Units	1.41%
Knowledge Realty Trust	InvITs	1.36%
MF Units	MF Units	0.80%
MF Units	MF Units	0.79%
Mindspace Business Parks REIT	InvITs	0.69%
Net Receivables	Net Receivables	0.52%
Margin	Margin	0.18%
MF Units	MF Units	0.08%