DSP Multicap 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 : Multi Cap Fund

Portfolio Turnover Ratio : 13.00%. Category average turnover ratio is 350.13%. 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 : 95.15% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 95.15%

No of Stocks : 68 (Category Avg - 84.79) | Large Cap Investments : 26.64%| Mid Cap Investments : 15.69% | Small Cap Investments : 13.37% | Other : 39.45%

Portfolio Summary (as on 31st Oct,2025)

Particulars	This Scheme	Category
No. of Stocks	68	83.76
Top 5 Stock Weight	17.86%	18.27%
Top 10 Stock Weight	30.79%	30.27%
Top 3 Sector Weight	26.21%	24.65%

Category - Multi Cap Fund

Particulars	This Scheme	Category
Average mcap (Cr)	36436.21	61679.36
Holdings in large cap stocks	26.64%	27.42%
Holdings in mid cap stocks	15.69%	15.46%
Holdings in small cap stocks	13.37%	16.99%

Category - Multi Cap Fund

Top 10 Stocks holding in Portfolio (as on 31st Oct,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	1095.7	4.17%	0.01%	5.37% (Feb 2025)	3.36% (Nov 2024)	11.10 L	0.00
Axis Bank Ltd.	Private sector bank	1093.7	4.16%	0.20%	4.16% (Oct 2025)	0% (Nov 2024)	8.87 L	0.00
Schaeffler India Ltd.	Auto components & equipments	889.3	3.38%	-0.29%	4.24% (Nov 2024)	3.38% (Oct 2025)	2.21 L	0.00
Nippon Life India Asset Management Ltd.	Asset management company	819.6	3.12%	-0.09%	3.51% (Dec 2024)	2.69% (Feb 2025)	9.37 L	0.00
Hero Motocorp Ltd.	2/3 wheelers	796.2	3.03%	-0.07%	3.66% (Nov 2024)	2.52% (Jul 2025)	1.44 L	0.00
ICICI Bank Ltd.	Private sector bank	749.8	2.85%	-0.11%	3.84% (Mar 2025)	2.85% (Oct 2025)	5.57 L	0.00
Cipla Ltd.	Pharmaceuticals	714.9	2.72%	-0.10%	3.75% (Dec 2024)	2.72% (Oct 2025)	4.76 L	0.00
Max Financial Services Ltd.	Life insurance	674.9	2.57%	-0.14%	3.65% (Jun 2025)	0% (Nov 2024)	4.36 L	0.00
Coforge Ltd.	Computers - software & consulting	651.4	2.48%	-0.16%	3.03% (Jul 2025)	1.97% (Jan 2025)	3.66 L	-0.54 L
Au Small Finance Bank Ltd.	Other bank	607.8	2.31%	0.31%	3.23% (Apr 2025)	2% (Sep 2025)	6.92 L	0.00

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

View complete holding

Complete equity Portfolio (as on 31st Oct,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	11.18	1095.7	4.17%	0.01%	5.37% (Feb 2025)	3.36% (Nov 2024)	11.10 L	0.00	Other	39.45
Axis Bank Ltd.	Private sector bank	11.18	1093.7	4.16%	0.20%	4.16% (Oct 2025)	0% (Nov 2024)	8.87 L	0.00	Large Cap	26.64
Schaeffler India Ltd.	Auto components & equipments	3.38	889.3	3.38%	-0.29%	4.24% (Nov 2024)	3.38% (Oct 2025)	2.21 L	0.00	Other	39.45
Nippon Life India Asset Management Ltd.	Asset management company	4.94	819.6	3.12%	-0.09%	3.51% (Dec 2024)	2.69% (Feb 2025)	9.37 L	0.00	Mid Cap	15.69
Hero Motocorp Ltd.	2/3 wheelers	3.03	796.2	3.03%	-0.07%	3.66% (Nov 2024)	2.52% (Jul 2025)	1.44 L	0.00	Large Cap	26.64
ICICI Bank Ltd.	Private sector bank	11.18	749.8	2.85%	-0.11%	3.84% (Mar 2025)	2.85% (Oct 2025)	5.57 L	0.00	Large Cap	26.64
Cipla Ltd.	Pharmaceuticals	9.01	714.9	2.72%	-0.10%	3.75% (Dec 2024)	2.72% (Oct 2025)	4.76 L	0.00	Large Cap	26.64
Max Financial Services Ltd.	Life insurance	4.67	674.9	2.57%	-0.14%	3.65% (Jun 2025)	0% (Nov 2024)	4.36 L	0.00	Mid Cap	15.69
Coforge Ltd.	Computers - software & consulting	6.02	651.4	2.48%	-0.16%	3.03% (Jul 2025)	1.97% (Jan 2025)	3.66 L	-0.54 L	Other	39.45
Au Small Finance Bank Ltd.	Other bank	2.31	607.8	2.31%	0.31%	3.23% (Apr 2025)	2% (Sep 2025)	6.92 L	0.00	Mid Cap	15.69
Syngene International Ltd.	Healthcare research, analytics & technology	2.21	579.6	2.21%	0.02%	3.5% (Jan 2025)	0% (Nov 2024)	8.92 L	0.00	Mid Cap	15.69
APL Apollo Tubes Ltd.	Iron & steel products	4.27	573.2	2.18%	0.05%	2.6% (Nov 2024)	2.09% (Aug 2025)	3.20 L	0.00	Other	39.45
ICICI Prudential Life Insurance Co Ltd.	Life insurance	4.67	552.2	2.10%	-0.09%	2.77% (Apr 2025)	2.03% (Jan 2025)	9.34 L	0.00	Large Cap	26.64
Archean Chemical Industries Ltd.	Specialty chemicals	3.24	549.9	2.09%	-0.17%	2.26% (Sep 2025)	1.01% (Jan 2025)	8.31 L	0.00	Other	39.45
Welspun Corp Ltd.	Iron & steel products	4.27	548.7	2.09%	0.17%	2.52% (Mar 2025)	1.92% (Sep 2025)	5.68 L	0.00	Small Cap	13.37
Gland Pharma Ltd.	Pharmaceuticals	9.01	529.7	2.02%	-0.14%	2.47% (Nov 2024)	1.86% (Apr 2025)	2.75 L	0.00	Other	39.45
Coal India Ltd.	Coal	2.01	526.9	2.01%	-0.08%	3.02% (Nov 2024)	2.01% (Oct 2025)	13.56 L	0.00	Large Cap	26.64
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	1.91	501.5	1.91%	-0.03%	2.28% (Nov 2024)	1.88% (Aug 2025)	1.44 L	0.00	Large Cap	26.64
ITC Limited	Diversified fmcg	1.83	482	1.83%	0.01%	2.41% (Nov 2024)	1.82% (Sep 2025)	11.47 L	0.00	Large Cap	26.64
UTI Asset Management Co. Pvt. Ltd.	Asset management company	4.94	477.6	1.82%	-0.15%	2.66% (Nov 2024)	1.82% (Oct 2025)	3.83 L	0.00	Other	39.45
Suven Pharmaceuticals Ltd.	Pharmaceuticals	9.01	466.8	1.78%	0.21%	2.18% (Feb 2025)	1.15% (Aug 2025)	6.20 L	1.67 L	Other	39.45
Cyient Ltd.	It enabled services	1.77	466.3	1.77%	0.21%	1.86% (Jun 2025)	0.79% (Apr 2025)	4.01 L	56.00 k	Small Cap	13.37
Bayer Cropscience Ltd.	Pesticides & agrochemicals	1.64	430.7	1.64%	-0.03%	2.11% (Jun 2025)	1.37% (Apr 2025)	88.18 k	0.00	Mid Cap	15.69
- Bajaj Finserv Ltd	Holding company	1.47	386.6	1.47%	0.00%	1.94% (Feb 2025)	1.44% (Aug 2025)	1.85 L	0.00	Other	39.45
ICICI Lombard General Insurance Co Ltd.	General insurance	1.47	385.6	1.47%	0.03%	1.89% (Jan 2025)	0% (Nov 2024)	1.93 L	0.00	Large Cap	26.64
# Bharat Petroleum Corporation Ltd.	Refineries & marketing	1.45	380.7	1.45%	1.45%	1.45% (Oct 2025)	0% (Nov 2024)	10.67 L	10.67 L	Large Cap	26.64
Prince Pipes and Fittings Ltd.	Plastic products - industrial	1.37	359.4	1.37%	-0.05%	1.46% (Aug 2025)	0.75% (Nov 2024)	11.23 L	0.00	Other	39.45
Kirloskar Oil Engines Ltd.	Compressors, pumps & diesel engines	1.35	353.9	1.35%	0.07%	1.35% (Oct 2025)	0.58% (Feb 2025)	3.54 L	0.00	Small Cap	13.37
Hexaware Technologies Ltd.	Computers - software & consulting	6.02	342.5	1.30%	-0.02%	1.77% (Jun 2025)	0% (Nov 2024)	4.98 L	0.00	Other	39.45
PG Electroplast Ltd.	Consumer electronics	1.3	340.5	1.30%	0.12%	1.48% (May 2025)	0% (Nov 2024)	5.96 L	0.00	Other	39.45
Century Plyboards India Ltd.	Plywood boards/ laminates	1.48	340.4	1.30%	-0.15%	1.84% (Jan 2025)	1.3% (Oct 2025)	4.51 L	0.00	Small Cap	13.37
Polycab India Limited	Cables - electricals	3.54	340.3	1.30%	0.03%	1.75% (Nov 2024)	1.17% (May 2025)	44.17 k	0.00	Other	39.45
- Apollo Hospitals Enterprises Ltd.	Hospital	1.25	329.1	1.25%	0.00%	1.54% (Jan 2025)	0% (Nov 2024)	42.85 k	0.00	Mid Cap	15.69
R R Kabel Ltd.	Cables - electricals	3.54	305.5	1.16%	0.08%	1.67% (Nov 2024)	1.03% (Aug 2025)	2.16 L	0.00	Other	39.45
Jubilant Ingrevia Ltd.	Specialty chemicals	3.24	303.1	1.15%	0.04%	1.73% (Dec 2024)	1.11% (Sep 2025)	4.39 L	0.00	Other	39.45
Dodla Dairy Ltd.	Dairy products	1.15	301.4	1.15%	-0.07%	1.5% (Dec 2024)	1.15% (Oct 2025)	2.33 L	0.00	Other	39.45
Siemens Ltd.	Heavy electrical equipment	1.08	284.3	1.08%	-0.05%	1.15% (Aug 2025)	0.24% (May 2025)	91.81 k	0.00	Large Cap	26.64
KEI Industries Ltd.	Cables - electricals	3.54	284	1.08%	0.45%	1.08% (Oct 2025)	0.58% (Apr 2025)	70.44 k	31.08 k	Small Cap	13.37
Sai Life Sciences Ltd.	Petrochemicals	1.03	271.9	1.03%	0.19%	1.03% (Oct 2025)	0% (Nov 2024)	2.96 L	49.55 k	Other	39.45
National Thermal Power Corporation Ltd.	Power generation	1.03	269.9	1.03%	-0.05%	1.56% (Nov 2024)	1.03% (Oct 2025)	8.01 L	0.00	Large Cap	26.64
Gopal Snacks Ltd.	Packaged foods	1.02	269.3	1.02%	-0.03%	1.18% (Nov 2024)	0.67% (Mar 2025)	7.66 L	0.00	Other	39.45
IFB Industries Ltd	Household appliances	1.81	256.5	0.98%	0.08%	1.34% (Dec 2024)	0.74% (Jul 2025)	1.37 L	0.00	Small Cap	13.37
Aditya Infotech Ltd.	Industrial products	1.93	253.1	0.96%	-0.04%	1% (Sep 2025)	0% (Nov 2024)	1.93 L	0.00	Other	39.45
IIFL Finance Ltd.	Non banking financial company (nbfc)	0.96	252.5	0.96%	0.12%	1.06% (Nov 2024)	0.79% (Mar 2025)	4.72 L	0.00	Small Cap	13.37
Rategain Travel Technologies Ltd.	Computers - software & consulting	6.02	251.7	0.96%	-0.04%	1.48% (Nov 2024)	0.71% (Jul 2025)	3.94 L	0.00	Other	39.45
Ipca Laboratories Ltd.	Pharmaceuticals	9.01	243.4	0.93%	-0.08%	1.67% (Dec 2024)	0.93% (Oct 2025)	1.91 L	0.00	Other	39.45
Sudarshan Chemical Industries Ltd.	Dyes and pigments	0.92	241.3	0.92%	-0.18%	1.54% (Jul 2025)	0% (Nov 2024)	2.10 L	0.00	Small Cap	13.37
IFGL Refractories Limited	Electrodes & refractories	0.9	235.6	0.90%	-0.21%	1.11% (Sep 2025)	0.36% (Dec 2024)	9.52 L	0.00	Small Cap	13.37
Crompton Greaves Consumer Electricals Ltd.	Household appliances	1.81	217.9	0.83%	-0.06%	1.19% (Nov 2024)	0.72% (Jul 2025)	7.71 L	0.00	Mid Cap	15.69
# Hindustan Aeronautics Ltd.	Aerospace & defense	0.83	217.2	0.83%	0.83%	0.83% (Oct 2025)	0% (Nov 2024)	46.41 k	46.41 k	Other	39.45
Emami Ltd.	Personal care	0.74	194.7	0.74%	-0.03%	1.33% (Nov 2024)	0.74% (Oct 2025)	3.64 L	0.00	Mid Cap	15.69
Seshaasai Technologies Ltd.	Financial technology (fintech)	0.72	189.2	0.72%	-0.10%	0.82% (Sep 2025)	0% (Nov 2024)	5.06 L	0.00	Other	39.45
JNK India Ltd.	Industrial products	1.93	188.8	0.72%	0.01%	1.61% (Dec 2024)	0.71% (Sep 2025)	6.45 L	0.00	Other	39.45
Avenue Supermarts Ltd.	Diversified retail	0.71	185.5	0.71%	-0.08%	0.93% (Mar 2025)	0.36% (Dec 2024)	44.65 k	0.00	Large Cap	26.64
R Systems International Ltd.	Computers - software & consulting	6.02	185.1	0.70%	0.02%	1.14% (Nov 2024)	0.66% (Apr 2025)	4.33 L	0.00	Small Cap	13.37
Emcure Pharmaceuticals Ltd.	Pharmaceuticals	9.01	166.7	0.63%	-0.01%	0.73% (Jul 2025)	0% (Nov 2024)	1.26 L	0.00	Other	39.45
- Mphasis Ltd.	Computers - software & consulting	6.02	152.4	0.58%	0.00%	0.63% (Aug 2025)	0% (Nov 2024)	55.14 k	0.00	Mid Cap	15.69
Vardhman Textiles Ltd.	Other textile products	0.55	145.4	0.55%	0.01%	0.87% (Dec 2024)	0.54% (Sep 2025)	3.33 L	0.00	Other	39.45
Indigo Paints Ltd.	Paints	0.55	144.3	0.55%	-0.05%	1.06% (Nov 2024)	0.55% (Oct 2025)	1.44 L	0.00	Other	39.45
Indoco Remedies Ltd.	Pharmaceuticals	9.01	129.1	0.49%	-0.04%	0.73% (Nov 2024)	0.48% (Feb 2025)	4.62 L	0.00	Small Cap	13.37
Alembic Pharmaceuticals Ltd.	Pharmaceuticals	9.01	114.6	0.44%	-0.01%	0.57% (May 2025)	0.44% (Oct 2025)	1.28 L	0.00	Mid Cap	15.69
Westlife Development Ltd.	Restaurants	0.36	93.8	0.36%	-0.07%	0.65% (Dec 2024)	0.36% (Oct 2025)	1.58 L	0.00	Small Cap	13.37
- GAIL (India) Ltd.	Gas transmission/marketing	0.29	75.2	0.29%	0.00%	0.44% (Nov 2024)	0.29% (Sep 2025)	4.12 L	0.00	Large Cap	26.64
- Cyient DLM Ltd.	Industrial products	1.93	66.8	0.25%	0.00%	0.55% (Nov 2024)	0.25% (Aug 2025)	1.48 L	0.00	Other	39.45
Carborundum Universal Ltd.	Abrasives & bearings	0.21	56.1	0.21%	-0.02%	0.49% (Nov 2024)	0.21% (Oct 2025)	62.31 k	0.00	Small Cap	13.37
Stylam Industries Ltd.	Plywood boards/ laminates	1.48	46.4	0.18%	0.03%	0.27% (Nov 2024)	0.14% (Jun 2025)	22.56 k	0.00	Other	39.45
Escorts Ltd.	Tractors	0.16	41.3	0.16%	0.01%	1.85% (Jan 2025)	0.15% (Sep 2025)	10.91 k	0.00	Small Cap	13.37
Kirloskar Ferrous Industries Ltd.	Pig iron	0.1	26.1	0.10%	-0.01%	0.17% (Dec 2024)	0.1% (Oct 2025)	50.41 k	0.00	Small Cap	13.37

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

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

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
# Bharat Petroleum Corporation Ltd.	Refineries & marketing	380.7	1.45%	1.45%	1.45% (Oct 2025)	0% (Nov 2024)	10.67 L	1066843
# Hindustan Aeronautics Ltd.	Aerospace & defense	217.2	0.83%	0.83%	0.83% (Oct 2025)	0% (Nov 2024)	46.41 k	46412

Stocks removed from Portfolio (in 1 month period ending 31st Oct,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	Oct 2025	Sep 2025	Aug 2025	Jul 2025	Jun 2025	May 2025	Apr 2025	Mar 2025	Feb 2025	Jan 2025	Dec 2024	Nov 2024	Oct 2024
HDFC Bank Ltd.	4.17%	4.16%	4.30%	4.61%	4.65%	4.77%	5.16%	5.18%	5.37%	4.96%	5.07%	3.36%	3.46%
Schaeffler India Ltd.	3.38%	3.67%	3.49%	3.75%	3.75%	4.09%	3.71%	3.81%	3.78%	3.99%	3.88%	4.24%	3.32%
Axis Bank Ltd.	4.16%	3.96%	3.30%	2.42%	2.77%	-	-	-	-	-	-	-	-
ICICI Bank Ltd.	2.85%	2.96%	3.18%	3.40%	3.37%	3.56%	3.84%	3.84%	3.75%	3.68%	3.68%	2.87%	2.00%
Cipla Ltd.	2.72%	2.82%	3.09%	3.05%	3.00%	3.08%	3.56%	3.51%	3.74%	3.71%	3.75%	3.61%	2.83%
Nippon Life India Asset Management Ltd.	3.12%	3.21%	3.00%	3.13%	3.14%	3.07%	2.89%	2.77%	2.69%	2.88%	3.51%	3.44%	3.78%
Max Financial Services Ltd.	2.57%	2.71%	2.85%	2.70%	3.65%	3.52%	3.34%	3.10%	-	-	-	-	-
Hero Motocorp Ltd.	3.03%	3.10%	2.98%	2.52%	2.55%	2.73%	2.65%	2.73%	2.95%	3.28%	3.08%	3.66%	4.08%
Syngene International Ltd.	2.21%	2.19%	2.27%	2.62%	2.39%	2.55%	2.73%	3.31%	3.25%	3.50%	2.10%	-	-
Au Small Finance Bank Ltd.	2.31%	2.00%	2.03%	2.11%	2.37%	3.02%	3.23%	2.69%	3.11%	3.12%	2.84%	2.58%	2.34%
APL Apollo Tubes Ltd.	2.18%	2.13%	2.09%	2.11%	2.33%	2.56%	2.50%	2.49%	2.57%	2.54%	2.59%	2.60%	2.77%
Coal India Ltd.	2.01%	2.09%	2.07%	2.10%	2.23%	2.38%	2.52%	2.76%	2.80%	2.83%	2.69%	3.02%	1.88%
ICICI Prudential Life Insurance Co Ltd.	2.10%	2.19%	2.28%	2.37%	2.57%	2.73%	2.77%	2.69%	2.37%	2.03%	2.11%	2.34%	2.63%
Coforge Ltd.	2.48%	2.64%	2.96%	3.03%	2.81%	2.15%	2.01%	2.36%	2.34%	1.97%	2.26%	2.11%	1.97%
Welspun Corp Ltd.	2.09%	1.92%	1.95%	2.18%	2.20%	2.35%	2.11%	2.52%	2.34%	2.22%	2.38%	2.35%	2.35%