HDFC 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 : 27.30%. 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 : 97.28% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 97.28%

No of Stocks : 161 (Category Avg - 83.45) | Large Cap Investments : 37.08%| Mid Cap Investments : 19.04% | Small Cap Investments : 13.46% | Other : 27.7%

Portfolio Summary (as on 30th Nov,2025)

Particulars	This Scheme	Category
No. of Stocks	161	82.42
Top 5 Stock Weight	15.23%	18.55%
Top 10 Stock Weight	23.69%	30.48%
Top 3 Sector Weight	27.44%	25.06%

Category - Multi Cap Fund

Particulars	This Scheme	Category
Average mcap (Cr)	86368.37	63835.18
Holdings in large cap stocks	37.08%	28.28%
Holdings in mid cap stocks	19.04%	14.95%
Holdings in small cap stocks	13.46%	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	9078.8	4.56%	0.23%	4.56% (Nov 2025)	3.62% (Sep 2025)	90.10 L	3.50 L
ICICI Bank Ltd.	Private sector bank	6041.3	3.03%	0.20%	3.56% (Apr 2025)	2.83% (Oct 2025)	43.50 L	2.00 L
Reliance Industries Ltd.	Refineries & marketing	5635.2	2.83%	0.27%	2.83% (Nov 2025)	1.99% (Dec 2024)	35.95 L	2.00 L
Axis Bank Ltd.	Private sector bank	4971.6	2.50%	0.07%	2.63% (May 2025)	2.01% (Dec 2024)	38.85 L	0.00
Britannia Industries Ltd.	Packaged foods	4608.8	2.31%	0.48%	2.31% (Nov 2025)	0% (Dec 2024)	7.88 L	1.71 L
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	4394.4	2.21%	0.03%	2.27% (Jun 2025)	1.36% (Dec 2024)	20.91 L	0.00
Infosys Ltd.	Computers - software & consulting	3634.2	1.83%	0.08%	2.6% (Jan 2025)	1.75% (Oct 2025)	23.29 L	0.00
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	3121	1.57%	0.32%	1.57% (Nov 2025)	0.57% (Mar 2025)	8.31 L	1.25 L
- Kotak Mahindra Bank Ltd.	Private sector bank	2867.9	1.44%	0.00%	1.84% (Mar 2025)	1.43% (Dec 2024)	13.50 L	0.00
ICICI Lombard General Insurance Co Ltd.	General insurance	2813.9	1.41%	0.45%	1.41% (Nov 2025)	0% (Dec 2024)	14.28 L	4.74 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	13.39	9078.8	4.56%	0.23%	4.56% (Nov 2025)	3.62% (Sep 2025)	90.10 L	3.50 L	Other	27.7
ICICI Bank Ltd.	Private sector bank	13.39	6041.3	3.03%	0.20%	3.56% (Apr 2025)	2.83% (Oct 2025)	43.50 L	2.00 L	Large Cap	37.08
Reliance Industries Ltd.	Refineries & marketing	3.98	5635.2	2.83%	0.27%	2.83% (Nov 2025)	1.99% (Dec 2024)	35.95 L	2.00 L	Large Cap	37.08
Axis Bank Ltd.	Private sector bank	13.39	4971.6	2.50%	0.07%	2.63% (May 2025)	2.01% (Dec 2024)	38.85 L	0.00	Large Cap	37.08
Britannia Industries Ltd.	Packaged foods	2.73	4608.8	2.31%	0.48%	2.31% (Nov 2025)	0% (Dec 2024)	7.88 L	1.71 L	Large Cap	37.08
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	3.15	4394.4	2.21%	0.03%	2.27% (Jun 2025)	1.36% (Dec 2024)	20.91 L	0.00	Large Cap	37.08
Infosys Ltd.	Computers - software & consulting	8.63	3634.2	1.83%	0.08%	2.6% (Jan 2025)	1.75% (Oct 2025)	23.29 L	0.00	Large Cap	37.08
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	2.7	3121	1.57%	0.32%	1.57% (Nov 2025)	0.57% (Mar 2025)	8.31 L	1.25 L	Large Cap	37.08
- Kotak Mahindra Bank Ltd.	Private sector bank	13.39	2867.9	1.44%	0.00%	1.84% (Mar 2025)	1.43% (Dec 2024)	13.50 L	0.00	Large Cap	37.08
ICICI Lombard General Insurance Co Ltd.	General insurance	1.41	2813.9	1.41%	0.45%	1.41% (Nov 2025)	0% (Dec 2024)	14.28 L	4.74 L	Large Cap	37.08
ITC Limited	Diversified fmcg	2.02	2668.1	1.34%	0.33%	1.34% (Nov 2025)	0.63% (Jul 2025)	66.00 L	18.50 L	Large Cap	37.08
HCL Technologies Limited	Computers - software & consulting	8.63	2614.9	1.31%	0.05%	1.83% (Dec 2024)	1.19% (Sep 2025)	16.10 L	0.00	Large Cap	37.08
Coforge Ltd.	Computers - software & consulting	8.63	2542	1.28%	0.08%	1.52% (Dec 2024)	1.13% (Sep 2025)	13.32 L	0.00	Other	27.7
Bajaj Finance Ltd.	Non banking financial company (nbfc)	3.75	2537.2	1.27%	-0.02%	1.42% (Feb 2025)	0.99% (Dec 2024)	24.46 L	0.00	Other	27.7
- Larsen & Toubro Ltd.	Civil construction	1.45	2302.4	1.16%	0.00%	1.24% (Mar 2025)	1% (Dec 2024)	5.66 L	0.00	Large Cap	37.08
Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	2.7	2253.1	1.13%	-0.03%	1.22% (Sep 2025)	0.81% (Dec 2024)	1.42 L	0.00	Large Cap	37.08
Alkem Laboratories Ltd.	Pharmaceuticals	5.42	2232.4	1.12%	0.16%	1.12% (Nov 2025)	0.1% (May 2025)	3.93 L	50.07 k	Mid Cap	19.04
Hindustan Petroleum Corporation Ltd.	Refineries & marketing	3.98	2179.6	1.09%	-0.06%	1.15% (Oct 2025)	0.88% (Feb 2025)	47.64 L	0.00	Large Cap	37.08
State Bank Of India	Public sector bank	1.22	2138.9	1.07%	0.17%	1.07% (Nov 2025)	0.65% (Aug 2025)	21.85 L	3.00 L	Large Cap	37.08
Shriram Finance Ltd.	Non banking financial company (nbfc)	3.75	2084	1.05%	0.12%	1.05% (Nov 2025)	0.64% (Aug 2025)	24.47 L	0.00	Other	27.7
- SBI Life Insurance Co Ltd.	Life insurance	3.32	2045.8	1.03%	0.00%	1.11% (Apr 2025)	0.86% (Dec 2024)	10.41 L	0.00	Large Cap	37.08
Sun Pharmaceutical Industries Ltd.	Pharmaceuticals	5.42	2012.9	1.01%	0.07%	1.01% (Nov 2025)	0.74% (Aug 2025)	10.99 L	0.00	Large Cap	37.08
Mphasis Ltd.	Computers - software & consulting	8.63	1888.2	0.95%	0.11%	1.05% (Jan 2025)	0.84% (Oct 2025)	6.72 L	75.00 k	Mid Cap	19.04
Tata Communications Ltd.	Telecom - cellular & fixed line services	3.15	1864.1	0.94%	-0.04%	0.98% (Oct 2025)	0.83% (Dec 2024)	10.27 L	0.00	Mid Cap	19.04
Five-Star Business Finance Ltd.	Non banking financial company (nbfc)	3.75	1838.1	0.92%	-0.01%	1.3% (Feb 2025)	0.75% (Aug 2025)	31.11 L	3.00 L	Other	27.7
Jubilant Foodworks Ltd.	Restaurants	1.67	1817.9	0.91%	0.40%	0.91% (Nov 2025)	0% (Dec 2024)	30.22 L	13.41 L	Other	27.7
National Thermal Power Corporation Ltd.	Power generation	0.87	1725.5	0.87%	0.07%	0.87% (Nov 2025)	0.56% (Aug 2025)	52.86 L	6.00 L	Large Cap	37.08
Au Small Finance Bank Ltd.	Other bank	0.84	1668.4	0.84%	0.06%	0.84% (Nov 2025)	0.5% (Dec 2024)	17.47 L	0.00	Mid Cap	19.04
Prestige Estates Projects Ltd.	Residential, commercial projects	1.57	1673.2	0.84%	-0.04%	1% (Dec 2024)	0.74% (Mar 2025)	9.98 L	0.00	Mid Cap	19.04
Tata Steel Ltd.	Iron & steel products	0.84	1679.6	0.84%	-0.39%	1.28% (Mar 2025)	0.67% (Dec 2024)	1.00 Cr	-0.33 Cr	Other	27.7
Chalet Hotels Ltd.	Hotels & resorts	1.87	1645.9	0.83%	0.05%	0.87% (Dec 2024)	0.71% (Apr 2025)	18.57 L	2.29 L	Other	27.7
Eternal Ltd.	E-retail/ e-commerce	0.82	1625.2	0.82%	-0.05%	0.94% (Sep 2025)	0.5% (Mar 2025)	54.15 L	0.00	Other	27.7
L&T Finance Holdings Ltd.	Investment company	0.8	1599.1	0.80%	0.10%	0.8% (Nov 2025)	0.41% (Dec 2024)	51.19 L	0.00	Mid Cap	19.04
Max Financial Services Ltd.	Life insurance	3.32	1597.1	0.80%	0.06%	0.83% (Jun 2025)	0.62% (Dec 2024)	9.38 L	0.00	Mid Cap	19.04
Tata Consultancy Services Ltd.	Computers - software & consulting	8.63	1596.4	0.80%	0.01%	1.3% (Jan 2025)	0.79% (Sep 2025)	5.09 L	0.00	Large Cap	37.08
Devyani International Ltd.	Restaurants	1.67	1518.1	0.76%	0.04%	0.76% (Nov 2025)	0.1% (Jun 2025)	1.12 Cr	24.01 L	Other	27.7
- Escorts Ltd.	Tractors	0.74	1476	0.74%	0.00%	0.87% (Jan 2025)	0.7% (Jun 2025)	3.87 L	0.00	Small Cap	13.46
- Indian Hotels Company Limited	Hotels & resorts	1.87	1473.1	0.74%	0.00%	1.03% (Dec 2024)	0.74% (Oct 2025)	19.79 L	0.00	Mid Cap	19.04
- Max Healthcare Institute Ltd.	Hospital	1.48	1459.3	0.73%	0.00%	1.29% (Mar 2025)	0.6% (Sep 2025)	12.55 L	0.00	Other	27.7
Trent Limited	Speciality retail	0.73	1445.1	0.73%	0.04%	0.84% (Dec 2024)	0.5% (Sep 2025)	3.40 L	50.00 k	Mid Cap	19.04
Persistent Systems Ltd.	Computers - software & consulting	8.63	1427.3	0.72%	0.05%	0.86% (Dec 2024)	0.58% (Sep 2025)	2.25 L	0.00	Other	27.7
Apar Industries Ltd.	Other electrical equipment	0.69	1373.9	0.69%	0.03%	0.99% (Dec 2024)	0.55% (Apr 2025)	1.50 L	0.00	Small Cap	13.46
JSW Infrastructure Ltd.	Engineering, designing, construction	0.69	1371.7	0.69%	-0.06%	1.02% (Mar 2025)	0.69% (Nov 2025)	50.74 L	0.00	Other	27.7
Federal Bank Ltd.	Private sector bank	13.39	1375.8	0.69%	0.05%	0.69% (Nov 2025)	0.55% (Sep 2025)	53.34 L	0.00	Mid Cap	19.04
Havells India Ltd.	Consumer electronics	1.61	1361.8	0.68%	0.16%	0.68% (Nov 2025)	0.26% (Jan 2025)	9.44 L	2.54 L	Large Cap	37.08
Hindustan Unilever Ltd.	Diversified fmcg	2.02	1355.6	0.68%	-0.01%	0.74% (Sep 2025)	0.4% (Jun 2025)	5.50 L	0.00	Large Cap	37.08
Sona BLW Precision Forgings Ltd.	Auto components & equipments	3.39	1356	0.68%	0.07%	0.68% (Nov 2025)	0.09% (Aug 2025)	26.50 L	1.08 L	Other	27.7
Akzo Nobel India Ltd.	Paints	1.33	1325.9	0.67%	0.14%	0.67% (Nov 2025)	0.18% (Sep 2025)	4.00 L	75.00 k	Small Cap	13.46
Balkrishna Industries Ltd.	Tyres & rubber products	1.28	1324.2	0.67%	0.01%	0.84% (Jul 2025)	0.28% (Jun 2025)	5.74 L	0.00	Mid Cap	19.04
Oil India Ltd.	Oil exploration & production	0.67	1336.9	0.67%	-0.04%	0.71% (Oct 2025)	0% (Dec 2024)	32.36 L	0.00	Mid Cap	19.04
Ambuja Cements Ltd.	Cement & cement products	1.06	1317.2	0.66%	-0.03%	0.81% (Mar 2025)	0.66% (Nov 2025)	23.94 L	0.00	Large Cap	37.08
Asian Paints (india) Ltd.	Paints	1.33	1307.9	0.66%	0.21%	0.66% (Nov 2025)	0.13% (May 2025)	4.55 L	1.00 L	Large Cap	37.08
Lupin Ltd.	Pharmaceuticals	5.42	1320.6	0.66%	0.03%	0.66% (Nov 2025)	0% (Dec 2024)	6.34 L	0.00	Large Cap	37.08
Delhivery Ltd.	Logistics solution provider	0.65	1288	0.65%	0.38%	0.65% (Nov 2025)	0.17% (Jan 2025)	30.22 L	18.62 L	Other	27.7
Gabriel India Ltd.	Auto components & equipments	3.39	1271.3	0.64%	-0.10%	0.74% (Oct 2025)	0.32% (Dec 2024)	12.36 L	85.78 k	Small Cap	13.46
Dixon Technologies (India) Ltd.	Consumer electronics	1.61	1253.1	0.63%	-0.04%	0.91% (Dec 2024)	0.63% (Nov 2025)	85.82 k	0.00	Other	27.7
Bandhan Bank Ltd.	Private sector bank	13.39	1241.7	0.62%	-0.04%	0.66% (Oct 2025)	0.2% (Mar 2025)	82.58 L	0.00	Large Cap	37.08
Apollo Tyres Limited	Tyres & rubber products	1.28	1223.9	0.61%	0.06%	0.61% (Nov 2025)	0.46% (Jun 2025)	23.81 L	2.00 L	Mid Cap	19.04
Centum Electronics Ltd	Industrial products	1.45	1198.7	0.60%	-0.05%	0.76% (Aug 2025)	0.42% (Feb 2025)	5.07 L	0.00	Small Cap	13.46
PNB Housing Finance Ltd.	Housing finance company	1.02	1191.3	0.60%	-0.02%	0.8% (Apr 2025)	0.54% (Aug 2025)	13.16 L	0.00	Mid Cap	19.04
Timken India Ltd.	Abrasives & bearings	0.88	1201.4	0.60%	0.28%	0.6% (Nov 2025)	0.29% (Apr 2025)	3.81 L	1.83 L	Small Cap	13.46
Power Finance Corporation Ltd.	Financial institution	0.59	1172.1	0.59%	-0.07%	0.66% (Oct 2025)	0.51% (Aug 2025)	32.31 L	0.00	Mid Cap	19.04
Vesuvius India Ltd.	Electrodes & refractories	0.58	1145.9	0.58%	-0.02%	0.81% (May 2025)	0.58% (Nov 2025)	24.00 L	0.00	Other	27.7
Hindustan Aeronautics Ltd.	Aerospace & defense	1.38	1128.7	0.57%	-0.02%	0.7% (May 2025)	0.52% (Feb 2025)	2.48 L	0.00	Other	27.7
Aster DM Healthcare Ltd.	Hospital	1.48	1122.5	0.56%	-0.02%	0.58% (Oct 2025)	0.46% (Feb 2025)	16.87 L	0.00	Small Cap	13.46
CIE AUTOMOTIVE INDIA Ltd.	Auto components & equipments	3.39	1123.5	0.56%	-0.04%	0.79% (Jan 2025)	0% (Dec 2024)	27.30 L	0.00	Small Cap	13.46
IDFC First Bank Ltd.	Private sector bank	13.39	1089.8	0.55%	-0.01%	0.56% (Oct 2025)	0.21% (Mar 2025)	1.36 Cr	0.00	Mid Cap	19.04
- Eris Lifesciences Ltd.	Pharmaceuticals	5.42	1076.9	0.54%	0.00%	0.67% (Aug 2025)	0.52% (Jan 2025)	6.75 L	0.00	Small Cap	13.46
Zensar Technologies Ltd.	Computers - software & consulting	8.63	1081.4	0.54%	0.11%	0.54% (Nov 2025)	0.22% (Dec 2024)	14.43 L	3.72 L	Small Cap	13.46
ABB India Ltd.	Heavy electrical equipment	0.83	1035	0.52%	0.32%	0.52% (Nov 2025)	0% (Dec 2024)	2.00 L	1.25 L	Large Cap	37.08
Motilal Oswal Financial Services Ltd.	Stockbroking & allied	0.7	1043.8	0.52%	-0.02%	0.61% (Dec 2024)	0.42% (Mar 2025)	10.88 L	0.00	Small Cap	13.46
Voltas Limited	Household appliances	1.34	1036.6	0.52%	-0.02%	0.82% (Dec 2024)	0.52% (Nov 2025)	7.53 L	-0.22 L	Mid Cap	19.04
Tata Capital Ltd.	Non banking financial company (nbfc)	3.75	1012.6	0.51%	0.02%	0.51% (Nov 2025)	0% (Dec 2024)	30.88 L	1.41 L	Other	27.7
Bharat Electronics Ltd.	Aerospace & defense	1.38	988.2	0.50%	-0.02%	0.55% (Jun 2025)	0.47% (Feb 2025)	24.00 L	0.00	Mid Cap	19.04
Wheels India Ltd.	Auto components & equipments	3.39	977.3	0.49%	-0.03%	0.55% (Sep 2025)	0.37% (Mar 2025)	11.34 L	0.00	Small Cap	13.46
Vishal Mega Mart Ltd.	Diversified retail	0.48	956.7	0.48%	-0.04%	0.73% (Aug 2025)	0.09% (Jan 2025)	70.45 L	0.00	Other	27.7
Whirlpool Of India Ltd.	Household appliances	1.34	950	0.48%	0.13%	0.48% (Nov 2025)	0.22% (Feb 2025)	8.86 L	3.93 L	Mid Cap	19.04
Aditya Birla Capital Ltd.	Life insurance	3.32	930.9	0.47%	0.04%	0.47% (Nov 2025)	0.27% (Dec 2024)	26.00 L	0.00	Mid Cap	19.04
Gland Pharma Ltd.	Pharmaceuticals	5.42	910.6	0.46%	-0.06%	0.6% (Jul 2025)	0.45% (Apr 2025)	5.17 L	-0.13 L	Other	27.7
Gulf Oil Lubircants India Ltd.	Lubricants	0.46	908	0.46%	-0.01%	0.47% (Oct 2025)	0.4% (Jan 2025)	7.68 L	20.56 k	Small Cap	13.46
LTIMindtree Ltd.	Computers - software & consulting	8.63	914.5	0.46%	0.03%	0.55% (Jan 2025)	0.41% (Sep 2025)	1.50 L	0.00	Mid Cap	19.04
Bharat Forge Ltd.	Castings & forgings	0.45	898.7	0.45%	0.03%	0.48% (Dec 2024)	0.38% (Aug 2025)	6.27 L	0.00	Mid Cap	19.04
HDFC Life Insurance Company Ltd.	Life insurance	3.32	901.4	0.45%	0.01%	0.53% (Apr 2025)	0.43% (Dec 2024)	11.79 L	0.00	Large Cap	37.08
Supreme Industries Ltd.	Plastic products - industrial	0.45	891.2	0.45%	-0.06%	0.54% (Dec 2024)	0.41% (Apr 2025)	2.63 L	0.00	Mid Cap	19.04
Ipca Laboratories Ltd.	Pharmaceuticals	5.42	869.4	0.44%	0.05%	0.48% (Jul 2025)	0.39% (Oct 2025)	5.98 L	0.00	Other	27.7
Mahanagar Gas Ltd.	Lpg/cng/png/lng supplier	0.71	866.2	0.44%	-0.02%	0.46% (Oct 2025)	0.2% (Aug 2025)	7.22 L	10.18 k	Small Cap	13.46
Metro Brands Ltd.	Footwear	0.43	852	0.43%	0.01%	0.43% (Nov 2025)	0.24% (Jun 2025)	7.28 L	949.00	Other	27.7
Bikaji Foods International Ltd.	Packaged foods	2.73	842.6	0.42%	0.03%	0.42% (Nov 2025)	0.1% (Jul 2025)	11.75 L	1.17 L	Other	27.7
Dabur India Ltd.	Personal care	1.06	833.5	0.42%	0.02%	0.42% (Sep 2025)	0.14% (Jun 2025)	16.11 L	0.00	Large Cap	37.08
L&T Technology Services Ltd.	It enabled services	0.71	837.8	0.42%	0.03%	0.42% (Nov 2025)	0.12% (May 2025)	1.89 L	2.59 k	Mid Cap	19.04
Bajaj Consumer Care Ltd.	Personal care	1.06	815.6	0.41%	0.16%	0.41% (Nov 2025)	0.11% (Apr 2025)	30.51 L	13.00 L	Small Cap	13.46
InterGlobe Aviation Ltd.	Airline	0.4	793.9	0.40%	0.02%	0.4% (Nov 2025)	0% (Dec 2024)	1.35 L	0.00	Large Cap	37.08
Canara HSBC Life Insurance Co.Ltd.	Life insurance	3.32	754.3	0.38%	0.02%	0.38% (Nov 2025)	0% (Dec 2024)	61.31 L	1.07 L	Other	27.7
Endurance Technologies Ltd.	Auto components & equipments	3.39	757.5	0.38%	0.02%	0.38% (Nov 2025)	0.03% (Feb 2025)	2.87 L	35.65 k	Mid Cap	19.04
- J K Tyre & Inds. Ltd.	Tyres & allied	0.37	745.9	0.37%	0.00%	0.37% (Nov 2025)	0% (Dec 2024)	16.69 L	0.00	Small Cap	13.46
Oberoi Realty Ltd.	Residential, commercial projects	1.57	745.7	0.37%	-0.04%	0.42% (Jul 2025)	0% (Dec 2024)	4.53 L	0.00	Mid Cap	19.04
Sai Life Sciences Ltd.	Petrochemicals	0.37	738.5	0.37%	0.10%	0.37% (Nov 2025)	0.06% (Jan 2025)	8.35 L	2.57 L	Other	27.7
Brigade Enterprises Ltd.	Residential, commercial projects	1.57	721.4	0.36%	0.21%	0.36% (Nov 2025)	0.08% (Sep 2025)	8.06 L	5.30 L	Small Cap	13.46
Page Industries Ltd.	Garments & apparels	0.35	701.3	0.35%	0.22%	0.35% (Nov 2025)	0.13% (Oct 2025)	18.30 k	12.00 k	Mid Cap	19.04
PB Fintech Ltd.	Financial technology (fintech)	0.35	691.2	0.35%	0.01%	0.62% (Dec 2024)	0.34% (Oct 2025)	3.80 L	0.00	Other	27.7
Medi Assist Healthcare Services Ltd.	Healthcare service provider	0.34	668.1	0.34%	-0.07%	0.41% (Oct 2025)	0.25% (Apr 2025)	14.07 L	0.00	Other	27.7
CreditAccess Grameen Ltd.	Microfinance institutions	0.32	642.5	0.32%	-0.03%	0.5% (Aug 2025)	0.32% (Nov 2025)	4.81 L	0.00	Small Cap	13.46
Cesc Ltd.	Integrated power utilities	0.56	622.3	0.31%	-0.02%	0.4% (Dec 2024)	0.3% (Aug 2025)	36.50 L	0.00	Other	27.7
Hero Motocorp Ltd.	2/3 wheelers	0.52	617.5	0.31%	0.03%	0.31% (Nov 2025)	0% (Dec 2024)	1.00 L	0.00	Large Cap	37.08
Prudent Corporate Advisory Services Ltd.	Financial products distributor	0.31	618.3	0.31%	-0.01%	0.42% (May 2025)	0.28% (Feb 2025)	2.50 L	0.00	Other	27.7
Sonata Software Ltd.	Computers - software & consulting	8.63	624	0.31%	-0.02%	0.44% (Apr 2025)	0.31% (Nov 2025)	17.46 L	0.00	Small Cap	13.46
TD Power Systems Ltd.	Heavy electrical equipment	0.83	624.4	0.31%	-0.19%	0.53% (Sep 2025)	0.31% (Nov 2025)	8.04 L	-4.60 L	Other	27.7
EIH Ltd	Hotels & resorts	1.87	592.8	0.30%	-0.01%	0.39% (Dec 2024)	0.3% (Nov 2025)	15.85 L	0.00	Mid Cap	19.04
Elecon Engineering Co. Ltd.	Industrial products	1.45	605.3	0.30%	-0.04%	0.45% (May 2025)	0.3% (Nov 2025)	12.00 L	0.00	Other	27.7
Kaynes Technology India Private Ltd.	Industrial products	1.45	593.2	0.30%	-0.07%	0.47% (Dec 2024)	0.3% (Nov 2025)	1.08 L	0.00	Other	27.7
Symphony Ltd.	Consumer electronics	1.61	589.6	0.30%	-0.01%	0.48% (Dec 2024)	0.29% (Sep 2025)	6.84 L	26.22 k	Small Cap	13.46
Glenmark Pharmaceuticals Ltd.	Pharmaceuticals	5.42	568.3	0.29%	0.01%	0.31% (Aug 2025)	0% (Dec 2024)	2.92 L	0.00	Mid Cap	19.04
Kalpataru Power Transmission Ltd.	Civil construction	1.45	582.5	0.29%	-0.02%	1.04% (Dec 2024)	0.29% (Nov 2025)	4.86 L	0.00	Small Cap	13.46
Sagility India Ltd.	It enabled services	0.71	575.9	0.29%	-0.02%	0.31% (Oct 2025)	0% (Dec 2024)	1.15 Cr	0.00	Other	27.7
Aadhar Housing Finance Ltd.	Housing finance company	1.02	560.4	0.28%	-0.02%	0.32% (Jul 2025)	0.28% (Nov 2025)	11.65 L	0.00	Other	27.7
Carborundum Universal Ltd.	Abrasives & bearings	0.88	551.6	0.28%	-0.01%	0.49% (Dec 2024)	0.28% (Nov 2025)	6.44 L	0.00	Small Cap	13.46
Gujarat Fluorochemicals Ltd.	Specialty chemicals	1.06	556.5	0.28%	-0.03%	0.32% (Sep 2025)	0.17% (Jun 2025)	1.63 L	0.00	Other	27.7
Wockhardt Ltd.	Pharmaceuticals	5.42	557.7	0.28%	-0.10%	0.54% (Jun 2025)	0.28% (Nov 2025)	4.52 L	-1.37 L	Small Cap	13.46
Archean Chemical Industries Ltd.	Specialty chemicals	1.06	540	0.27%	-0.08%	0.42% (Dec 2024)	0.27% (Nov 2025)	10.54 L	0.00	Other	27.7
Indraprastha Gas Ltd.	Lpg/cng/png/lng supplier	0.71	533.1	0.27%	-0.02%	0.35% (Feb 2025)	0.27% (Nov 2025)	26.74 L	0.00	Mid Cap	19.04
- Inventurus Knowledge Solutions Ltd.	It enabled services – software	0.27	540.3	0.27%	0.00%	0.27% (Nov 2025)	0.17% (Sep 2025)	3.21 L	0.00	Other	27.7
Ajanta Pharma Limited	Pharmaceuticals	5.42	516.5	0.26%	0.15%	0.26% (Nov 2025)	0.1% (Sep 2025)	2.02 L	1.17 L	Small Cap	13.46
Bosch Ltd.	Auto components & equipments	3.39	525.2	0.26%	-0.01%	0.48% (Aug 2025)	0.26% (Nov 2025)	14.54 k	0.00	Large Cap	37.08
# Praj Industries Ltd.	Industrial products	1.45	506.5	0.25%	0.25%	0.25% (Nov 2025)	0% (Dec 2024)	16.02 L	16.02 L	Small Cap	13.46
- Torrent Power Ltd.	Integrated power utilities	0.56	500.8	0.25%	0.00%	0.36% (Mar 2025)	0.25% (Sep 2025)	3.81 L	0.00	Mid Cap	19.04
Birla Corporation Ltd.	Cement & cement products	1.06	473.8	0.24%	-0.01%	0.33% (May 2025)	0.24% (Nov 2025)	4.23 L	0.00	Small Cap	13.46
- Birlasoft Ltd.	Computers - software & consulting	8.63	487.8	0.24%	0.00%	0.3% (Apr 2025)	0.02% (Feb 2025)	12.83 L	0.00	Small Cap	13.46
Jubilant Ingrevia Ltd.	Specialty chemicals	1.06	472.9	0.24%	0.01%	0.33% (Dec 2024)	0.23% (Sep 2025)	6.68 L	0.00	Other	27.7
Crompton Greaves Consumer Electricals Ltd.	Household appliances	1.34	454.9	0.23%	-0.02%	0.4% (Dec 2024)	0.23% (Nov 2025)	17.14 L	0.00	Mid Cap	19.04
Godrej Consumer Products Ltd	Personal care	1.06	453.4	0.23%	0.01%	0.3% (Apr 2025)	0.22% (Oct 2025)	3.96 L	0.00	Large Cap	37.08
Kajaria Ceramics Ltd.	Ceramics	0.23	465.7	0.23%	-0.04%	0.29% (Aug 2025)	0.12% (Apr 2025)	4.36 L	0.00	Small Cap	13.46
Tube Investments Of India Ltd.	Auto components & equipments	3.39	442.1	0.22%	0.02%	0.22% (Nov 2025)	0.01% (Feb 2025)	1.59 L	25.00 k	Small Cap	13.46
Divis Laboratories Ltd.	Pharmaceuticals	5.42	427.4	0.21%	0.08%	0.21% (Nov 2025)	0% (Dec 2024)	65.99 k	29.01 k	Large Cap	37.08
- Le Travenues Technology Ltd.	Tour, travel related services	0.21	419.6	0.21%	0.00%	0.54% (Aug 2025)	0.21% (Oct 2025)	15.72 L	0.00	Other	27.7
Ola Electric Mobility Ltd.	2/3 wheelers	0.52	412.1	0.21%	-0.04%	0.51% (Dec 2024)	0.21% (Nov 2025)	1.00 Cr	0.00	Other	27.7
Apollo Hospitals Enterprises Ltd.	Hospital	1.48	386.3	0.19%	-0.27%	0.51% (Dec 2024)	0.19% (Nov 2025)	52.67 k	-0.65 L	Mid Cap	19.04
Data Patterns India Ltd.	Aerospace & defense	1.38	386.2	0.19%	0.01%	0.19% (Nov 2025)	0.08% (Feb 2025)	1.30 L	0.00	Other	27.7
Hexaware Technologies Ltd.	Computers - software & consulting	8.63	378.4	0.19%	0.02%	0.21% (Aug 2025)	0% (Dec 2024)	5.00 L	0.00	Other	27.7
ICICI Prudential Life Insurance Co Ltd.	Life insurance	3.32	371.9	0.19%	0.01%	0.2% (Jul 2025)	0% (Dec 2024)	6.00 L	0.00	Large Cap	37.08
United Breweries Ltd.	Breweries & distilleries	0.27	371.9	0.19%	-0.01%	0.25% (Feb 2025)	0.19% (Aug 2025)	2.20 L	0.00	Large Cap	37.08
# Billionbrains Garage Ventures Ltd.	Stockbroking & allied	0.7	361.7	0.18%	0.18%	0.18% (Nov 2025)	0% (Dec 2024)	22.77 L	22.77 L	Other	27.7
Greenply Industries Ltd.	Plywood boards/ laminates	0.17	348	0.17%	-0.02%	0.22% (Feb 2025)	0.17% (Nov 2025)	12.32 L	19.28 k	Small Cap	13.46
Sagar Cements Ltd.	Cement & cement products	1.06	319.1	0.16%	-0.01%	0.26% (Aug 2025)	0.1% (Mar 2025)	14.73 L	0.00	Other	27.7
Varroc Engineering Ltd.	Auto components & equipments	3.39	327.1	0.16%	0.01%	0.17% (Dec 2024)	0.13% (Apr 2025)	4.96 L	0.00	Small Cap	13.46
Aarti Pharmalabs Ltd.	Pharmaceuticals	5.42	300.5	0.15%	-0.04%	0.22% (May 2025)	0.15% (Nov 2025)	4.29 L	0.00	Other	27.7
# Doms Industries Ltd.	Stationary	0.15	299.8	0.15%	0.15%	0.15% (Nov 2025)	0% (Dec 2024)	1.19 L	1.19 L	Other	27.7
Indian Bank	Public sector bank	1.22	291.5	0.15%	-0.13%	0.28% (Oct 2025)	0.15% (Nov 2025)	3.35 L	-3.04 L	Mid Cap	19.04
- Aarti Industries Ltd.	Specialty chemicals	1.06	273.5	0.14%	0.00%	0.2% (Jan 2025)	0.13% (Dec 2024)	7.15 L	0.00	Mid Cap	19.04
Avanti Feeds Ltd.	Animal feed	0.14	270.2	0.14%	0.06%	0.14% (Nov 2025)	0.07% (Sep 2025)	3.35 L	1.17 L	Small Cap	13.46
- Can Fin Homes Ltd.	Housing finance company	1.02	272.4	0.14%	0.00%	0.14% (Oct 2025)	0.07% (Feb 2025)	3.08 L	0.00	Small Cap	13.46
Atul Ltd.	Specialty chemicals	1.06	266.7	0.13%	-0.08%	0.29% (Apr 2025)	0.13% (Nov 2025)	45.40 k	-0.25 L	Mid Cap	19.04
- Bharat Dynamics Ltd.	Aerospace & defense	1.38	229.5	0.12%	0.00%	0.24% (Apr 2025)	0.12% (Sep 2025)	1.52 L	0.00	Other	27.7
Delta Corp Ltd.	Amusement parks/ other recreation	0.12	234.4	0.12%	-0.04%	0.3% (Dec 2024)	0.12% (Nov 2025)	34.18 L	-6.87 L	Small Cap	13.46
Blue Star Ltd.	Household appliances	1.34	215.5	0.11%	-0.01%	0.29% (Mar 2025)	0.11% (Nov 2025)	1.22 L	0.00	Small Cap	13.46
Jagran Prakashan Ltd.	Print media	0.11	223.9	0.11%	-0.01%	0.16% (Dec 2024)	0.11% (Nov 2025)	32.00 L	0.00	Small Cap	13.46
Nilkamal Ltd.	Plastic products - consumer	0.1	202.1	0.10%	-0.01%	0.17% (Dec 2024)	0.1% (Nov 2025)	1.43 L	0.00	Small Cap	13.46
- Syngene International Ltd.	Healthcare research, analytics & technology	0.1	194.5	0.10%	0.00%	0.15% (Dec 2024)	0.1% (Aug 2025)	3.00 L	0.00	Mid Cap	19.04
- Vardhman Textiles Ltd.	Other textile products	0.09	174.8	0.09%	0.00%	0.12% (Dec 2024)	0.09% (Aug 2025)	4.00 L	0.00	Other	27.7
Sharda Motor Industries Ltd.	Auto ancillaries	0.08	154.3	0.08%	-0.04%	0.13% (Aug 2025)	0.08% (Nov 2025)	1.65 L	-0.55 L	Other	27.7
- Sula Vineyards Ltd.	Breweries & distilleries	0.27	151.1	0.08%	0.00%	0.16% (Dec 2024)	0.08% (Nov 2025)	6.46 L	0.00	Other	27.7
Gandhar Oil Refinery (India) Ltd.	Refineries & marketing	3.98	126.1	0.06%	-0.03%	0.2% (Dec 2024)	0.06% (Nov 2025)	9.65 L	-4.09 L	Other	27.7
UPL Ltd.	Pesticides & agrochemicals		801.8	0.00%	-0.41%	-	-	-	-	Large Cap	37.08
Schloss Bangalore Ltd.	Hotels & resorts	1.87	313.1	0.00%	-0.16%	-	-	-	-	Other	27.7
Oil & Natural Gas Corporation Ltd.	Oil exploration & production	0.67	1116.9	0.00%	-0.57%	-	-	-	-	Large Cap	37.08
Muthoot Finance Pvt. Ltd.	Non banking financial company (nbfc)	3.75	421.6	0.00%	-0.21%	-	-	-	-	Mid Cap	19.04
Indusind Bank Ltd.	Private sector bank	13.39	1286.1	0.00%	-0.65%	-	-	-	-	Large Cap	37.08
Bajaj Auto Ltd.	2/3 wheelers	0.52	647.4	0.00%	-0.33%	-	-	-	-	Large Cap	37.08
Techno Electric & Engineering Co. Ltd.	Civil construction	1.45	324.8	0.00%	-0.16%	-	-	-	-	Small Cap	13.46
Ultratech Cement Ltd.	Cement & cement products	1.06	767.9	0.00%	-0.39%	-	-	-	-	Large Cap	37.08
KEC International Ltd.	Heavy electrical equipment	0.83	785.5	0.00%	-0.40%	-	-	-	-	Small Cap	13.46
Mahindra & Mahindra Financial Services Ltd.	Non banking financial company (nbfc)	3.75	792	0.00%	-0.40%	-	-	-	-	Mid Cap	19.04
Cholamandalam Investment & Finance Co. Ltd.	Non banking financial company (nbfc)	3.75	282.5	0.00%	-0.14%	-	-	-	-	Other	27.7
Ashok Leyland Ltd.	Commercial vehicles		509.5	0.00%	-0.26%	-	-	-	-	Mid Cap	19.04
Bank Of Baroda	Public sector bank	1.22	984.1	0.00%	-0.50%	-	-	-	-	Large Cap	37.08
Motherson Sumi Systems Ltd.	Auto components & equipments	3.39	384.4	0.00%	-0.19%	-	-	-	-	Large Cap	37.08
Navin Flourine International Ltd.	Commodity chemicals		551.2	0.00%	-0.28%	-	-	-	-	Small Cap	13.46
Burger King India Ltd.	Restaurants	1.67	168.1	0.00%	-0.09%	-	-	-	-	Other	27.7

- 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
# Billionbrains Garage Ventures Ltd.	Stockbroking & allied	361.7	0.18%	0.18%	0.18% (Nov 2025)	0% (Dec 2024)	22.77 L	2276630
# Praj Industries Ltd.	Industrial products	506.5	0.25%	0.25%	0.25% (Nov 2025)	0% (Dec 2024)	16.02 L	1601771
# Doms Industries Ltd.	Stationary	299.8	0.15%	0.15%	0.15% (Nov 2025)	0% (Dec 2024)	1.19 L	119445

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
UPL Ltd.	Pesticides & agrochemicals	801.8	0.00%	-0.41%	0.47% (Feb 2025)	0% (Dec 2024)	-1113513
Schloss Bangalore Ltd.	Hotels & resorts	313.1	0.00%	-0.16%	0.3% (May 2025)	0% (Dec 2024)	-721849
Oil & Natural Gas Corporation Ltd.	Oil exploration & production	1116.9	0.00%	-0.57%	0.71% (Jan 2025)	0% (Dec 2024)	-4373487
Muthoot Finance Pvt. Ltd.	Non banking financial company (nbfc)	421.6	0.00%	-0.21%	0.44% (Sep 2025)	0% (Dec 2024)	-132624
Indusind Bank Ltd.	Private sector bank	1286.1	0.00%	-0.65%	1.09% (Feb 2025)	0% (Dec 2024)	-1618081
Bajaj Auto Ltd.	2/3 wheelers	647.4	0.00%	-0.33%	0.4% (Jan 2025)	0% (Dec 2024)	-72806
Techno Electric & Engineering Co. Ltd.	Civil construction	324.8	0.00%	-0.16%	0.88% (Jun 2025)	0% (Dec 2024)	-246254
Ultratech Cement Ltd.	Cement & cement products	767.9	0.00%	-0.39%	0.72% (Mar 2025)	0% (Dec 2024)	-64274
KEC International Ltd.	Heavy electrical equipment	785.5	0.00%	-0.40%	0.68% (Dec 2024)	0% (Dec 2024)	-960538
Mahindra & Mahindra Financial Services Ltd.	Non banking financial company (nbfc)	792	0.00%	-0.40%	0.5% (Feb 2025)	0% (Dec 2024)	-2509995
Cholamandalam Investment & Finance Co. Ltd.	Non banking financial company (nbfc)	282.5	0.00%	-0.14%	0.59% (Feb 2025)	0% (Dec 2024)	-166464
Ashok Leyland Ltd.	Commercial vehicles	509.5	0.00%	-0.26%	0.28% (Sep 2025)	0% (Dec 2024)	-3600000
Bank Of Baroda	Public sector bank	984.1	0.00%	-0.50%	0.53% (Apr 2025)	0% (Dec 2024)	-3535000
Motherson Sumi Systems Ltd.	Auto components & equipments	384.4	0.00%	-0.19%	0.22% (Dec 2024)	0% (Dec 2024)	-3647250
Navin Flourine International Ltd.	Commodity chemicals	551.2	0.00%	-0.28%	0.28% (Oct 2025)	0% (Dec 2024)	-96909
Burger King India Ltd.	Restaurants	168.1	0.00%	-0.09%	0.13% (Dec 2024)	0% (Dec 2024)	-2500000

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.	4.56%	4.33%	3.62%	3.70%	3.91%	3.84%	3.92%	4.12%	4.08%	4.20%	3.75%	3.73%	3.91%
ICICI Bank Ltd.	3.03%	2.83%	3.00%	3.17%	3.35%	3.24%	3.41%	3.56%	3.51%	3.41%	3.23%	3.15%	3.28%
Axis Bank Ltd.	2.50%	2.43%	2.35%	2.22%	2.26%	2.52%	2.63%	2.63%	2.55%	2.55%	2.26%	2.01%	2.16%
Reliance Industries Ltd.	2.83%	2.56%	2.02%	2.05%	2.09%	2.24%	2.23%	2.33%	2.21%	2.26%	2.17%	1.99%	2.14%
Infosys Ltd.	1.83%	1.75%	1.80%	1.79%	1.83%	1.93%	1.98%	2.01%	2.20%	2.57%	2.60%	2.26%	2.27%
Bharti Airtel Ltd.	2.21%	2.18%	2.10%	2.16%	2.18%	2.27%	2.20%	1.94%	1.88%	1.86%	1.75%	1.36%	1.37%
Britannia Industries Ltd.	2.31%	1.83%	1.37%	-	-	-	-	-	-	-	-	-	-
Kotak Mahindra Bank Ltd.	1.44%	1.44%	1.44%	1.45%	1.46%	1.58%	1.59%	1.79%	1.84%	1.75%	1.60%	1.43%	1.18%
HCL Technologies Limited	1.31%	1.26%	1.19%	1.28%	1.29%	1.50%	1.50%	1.52%	1.61%	1.73%	1.73%	1.83%	1.83%
Coforge Ltd.	1.28%	1.20%	1.13%	1.26%	1.27%	1.38%	1.29%	1.17%	1.35%	1.34%	1.37%	1.52%	1.43%
Bajaj Finance Ltd.	1.27%	1.29%	1.31%	1.17%	1.18%	1.24%	1.27%	1.27%	1.37%	1.42%	1.20%	0.99%	0.93%
Larsen & Toubro Ltd.	1.16%	1.16%	1.11%	1.12%	1.12%	1.12%	1.18%	1.14%	1.24%	1.22%	1.03%	1.00%	1.01%
Tata Steel Ltd.	0.84%	1.23%	1.20%	1.12%	1.14%	1.14%	1.21%	1.12%	1.28%	1.24%	1.11%	0.67%	0.44%
Tata Consultancy Services Ltd.	0.80%	0.79%	0.79%	0.86%	0.84%	0.95%	1.00%	1.06%	1.15%	1.21%	1.30%	1.23%	1.35%
Hindustan Petroleum Corporation Ltd.	1.09%	1.15%	1.13%	0.90%	1.00%	1.03%	1.02%	1.00%	0.99%	0.88%	0.95%	1.03%	1.06%