HDFC Retirement Savings Fund - Hybrid-Debt Plan - 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 : 39.92% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 39.92%

No of Stocks : 37 (Category Avg - 53.69) | Large Cap Investments : 30.86%| Mid Cap Investments : 1.76% | Small Cap Investments : 3.4% | Other : 3.9%

Portfolio Summary (as on 31st Oct,2025)

Particulars	This Scheme	Category
No. of Stocks	37	57.67
Top 5 Stock Weight	25.2%	18.04%
Top 10 Stock Weight	30.19%	28.06%
Top 3 Sector Weight	21.71%	20.5%

Category - Retirement Fund

Particulars	This Scheme	Category
Average mcap (Cr)	138995.91	80291.47
Holdings in large cap stocks	30.86%	31.02%
Holdings in mid cap stocks	1.76%	8.93%
Holdings in small cap stocks	3.4%	9.43%

Category - Retirement 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
# Larsen & Toubro Ltd.	Civil construction	113.7	7.06%	0.00%	6.56% (Aug 2025)	4.33% (Nov 2024)	28.20 k
# Tata Consultancy Services Ltd.	Computers - software & consulting	109.5	6.80%	0.00%	9.02% (Dec 2024)	6.32% (Jul 2025)	35.80 k
# Reliance Industries Ltd.	Refineries & marketing	98.9	6.14%	0.00%	6.14% (Jun 2025)	3.76% (Dec 2024)	66.50 k
# HDFC Bank Ltd.	Private sector bank	43.2	2.69%	0.00%	2.72% (Jul 2025)	2.28% (Jan 2025)	43.80 k
# ICICI Bank Ltd.	Private sector bank	40.4	2.51%	0.00%	2.74% (Jul 2025)	2.34% (Feb 2025)	30.00 k
# State Bank Of India	Public sector bank	18.3	1.13%	0.00%	1.06% (Sep 2025)	0.87% (Feb 2025)	19.50 k
# Bharti Airtel Ltd.	Telecom - cellular & fixed line services	16.4	1.02%	0.00%	1.09% (Feb 2025)	0.81% (Feb 2025)	8.00 k
# Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	16.2	1.01%	0.00%	1% (Sep 2025)	0.54% (Oct 2024)	1.00 k
# Axis Bank Ltd.	Private sector bank	16	1.00%	0.00%	0.97% (May 2025)	0.81% (Jan 2025)	13.00 k
# Infosys Ltd.	Computers - software & consulting	13.3	0.83%	0.00%	1.22% (Dec 2024)	0.8% (Apr 2025)	9.00 k

- 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	M-Cap	GroupName
# Larsen & Toubro Ltd.	Civil construction	7.45	113.7	7.06%	0.00%	6.56% (Aug 2025)	4.33% (Nov 2024)	28.20 k	Large Cap	30.86
# Tata Consultancy Services Ltd.	Computers - software & consulting	7.63	109.5	6.80%	0.00%	9.02% (Dec 2024)	6.32% (Jul 2025)	35.80 k	Large Cap	30.86
# Reliance Industries Ltd.	Refineries & marketing	6.44	98.9	6.14%	0.00%	6.14% (Jun 2025)	3.76% (Dec 2024)	66.50 k	Large Cap	30.86
# HDFC Bank Ltd.	Private sector bank	6.63	43.2	2.69%	0.00%	2.72% (Jul 2025)	2.28% (Jan 2025)	43.80 k	Other	3.9
# ICICI Bank Ltd.	Private sector bank	6.63	40.4	2.51%	0.00%	2.74% (Jul 2025)	2.34% (Feb 2025)	30.00 k	Large Cap	30.86
# State Bank Of India	Public sector bank	1.13	18.3	1.13%	0.00%	1.06% (Sep 2025)	0.87% (Feb 2025)	19.50 k	Large Cap	30.86
# Bharti Airtel Ltd.	Telecom - cellular & fixed line services	1.02	16.4	1.02%	0.00%	1.09% (Feb 2025)	0.81% (Feb 2025)	8.00 k	Large Cap	30.86
# Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	1.01	16.2	1.01%	0.00%	1% (Sep 2025)	0.54% (Oct 2024)	1.00 k	Large Cap	30.86
# Axis Bank Ltd.	Private sector bank	6.63	16	1.00%	0.00%	0.97% (May 2025)	0.81% (Jan 2025)	13.00 k	Large Cap	30.86
# Infosys Ltd.	Computers - software & consulting	7.63	13.3	0.83%	0.00%	1.22% (Dec 2024)	0.8% (Apr 2025)	9.00 k	Large Cap	30.86
# Transport Corporation Of India Ltd.	Logistics solution provider	0.99	12	0.75%	0.00%	0.75% (Jul 2025)	0.58% (Feb 2025)	10.00 k	Small Cap	3.4
# ICICI Lombard General Insurance Co Ltd.	General insurance	0.74	12	0.74%	0.00%	0.75% (Jun 2025)	0.65% (Mar 2025)	6.00 k	Large Cap	30.86
# ITC Limited	Diversified fmcg	0.65	10.5	0.65%	0.00%	0.91% (Dec 2024)	0.63% (Sep 2025)	25.00 k	Large Cap	30.86
# SBI Life Insurance Co Ltd.	Life insurance	0.61	9.8	0.61%	0.00%	0.57% (Sep 2025)	0.43% (Dec 2024)	5.00 k	Large Cap	30.86
# Lumax Industries Ltd.	Auto components & equipments	0.46	7.5	0.46%	0.00%	0.47% (Sep 2025)	0.21% (Jan 2025)	1.50 k	Small Cap	3.4
# Vesuvius India Ltd.	Electrodes & refractories	0.46	7.4	0.46%	0.00%	0.55% (May 2025)	0.37% (Feb 2025)	15.00 k	Other	3.9
# Power Grid Corporation of India Ltd.	Power - transmission	0.45	7.2	0.45%	0.00%	0.48% (Apr 2025)	0.26% (Feb 2025)	25.00 k	Large Cap	30.86
# City Union Bank Ltd.	Private sector bank	6.63	6.9	0.43%	0.00%	0.4% (Sep 2025)	0.29% (Mar 2025)	30.00 k	Mid Cap	1.76
# Lupin Ltd.	Pharmaceuticals	1.05	6.9	0.43%	0.00%	0.45% (Sep 2025)	0% (Oct 2024)	3.50 k	Large Cap	30.86
# DR. LAL PATHLABS Ltd.	Healthcare service provider	0.39	6.3	0.39%	0.00%	0.42% (Aug 2025)	0% (Oct 2024)	2.00 k	Small Cap	3.4
# Kalpataru Power Transmission Ltd.	Civil construction	7.45	6.3	0.39%	0.00%	0.41% (Sep 2025)	0.28% (Mar 2025)	5.02 k	Small Cap	3.4
# Gujarat State Petronet Ltd.	Gas transmission/marketing	0.38	6.2	0.38%	0.00%	0.48% (Oct 2024)	0.35% (Feb 2025)	20.00 k	Mid Cap	1.76
# Alkem Laboratories Ltd.	Pharmaceuticals	1.05	5.5	0.34%	0.00%	0.34% (Sep 2025)	0% (Oct 2024)	1.00 k	Mid Cap	1.76
# Bayer Cropscience Ltd.	Pesticides & agrochemicals	0.33	5.4	0.33%	0.00%	0.45% (Oct 2024)	0.31% (Feb 2025)	1.10 k	Mid Cap	1.76
# Gujarat Pipavav Port Ltd.	Port & port services	0.31	5	0.31%	0.00%	0.36% (Oct 2024)	0.24% (Feb 2025)	30.00 k	Small Cap	3.4
# Hindustan Petroleum Corporation Ltd.	Refineries & marketing	6.44	4.8	0.30%	0.00%	0.38% (Dec 2024)	0.24% (Aug 2025)	10.00 k	Large Cap	30.86
# Symphony Ltd.	Consumer electronics	0.29	4.6	0.29%	0.00%	0.47% (Oct 2024)	0.28% (Sep 2025)	4.92 k	Small Cap	3.4
# Alembic Pharmaceuticals Ltd.	Pharmaceuticals	1.05	4.5	0.28%	0.00%	0.35% (Oct 2024)	0.24% (Feb 2025)	5.00 k	Mid Cap	1.76
# Finolex Cables Ltd.	Cables - electricals	0.24	3.9	0.24%	0.00%	0.39% (Dec 2024)	0.25% (Aug 2025)	5.00 k	Small Cap	3.4
# Gateway Rail Freight Ltd.	Logistics solution provider	0.99	3.8	0.24%	0.00%	0.32% (Dec 2024)	0.22% (Apr 2025)	60.00 k	Other	3.9
# Goodyear India Ltd.	Tyres & rubber products	0.24	3.9	0.24%	0.00%	0.26% (Jul 2025)	0.2% (Mar 2025)	4.00 k	Small Cap	3.4
# Vardhman Textiles Ltd.	Other textile products	0.23	3.7	0.23%	0.00%	0.28% (Dec 2024)	0.2% (Mar 2025)	8.50 k	Other	3.9
# The Anup Engineering Ltd.	Industrial products	0.19	3	0.19%	0.00%	0.46% (Dec 2024)	0.18% (Aug 2025)	1.30 k	Other	3.9
# United Spirits Ltd.	Breweries & distilleries	0.18	2.9	0.18%	0.00%	0.41% (Dec 2024)	0.16% (Sep 2025)	2.00 k	Large Cap	30.86
# Voltamp Transformers Ltd.	Heavy electrical equipment	0.18	3	0.18%	0.00%	0.5% (Oct 2024)	0.18% (Sep 2025)	400.00	Small Cap	3.4
# PVR Inox Ltd.	Film production, distribution & exhibition	0.15	2.4	0.15%	0.00%	0.19% (Oct 2024)	0.11% (Mar 2025)	2.00 k	Small Cap	3.4
# Popular Vehicles and Services Ltd.	Auto dealer	0.09	1.5	0.09%	0.00%	0.11% (Oct 2024)	0.06% (Mar 2025)	10.05 k	Other	3.9

- 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
No new entrants in the portfolio in the last month.

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
Tata Consultancy Services Ltd.	6.80%	6.45%	6.53%	6.32%	7.20%	7.02%	7.08%	7.48%	7.43%	8.55%	8.44%	8.72%	8.03%
Larsen & Toubro Ltd.	7.06%	6.44%	6.48%	6.43%	6.48%	6.48%	5.96%	6.31%	5.87%	4.43%	4.44%	4.55%	4.38%
Reliance Industries Ltd.	6.14%	5.66%	5.66%	5.70%	6.14%	5.81%	5.81%	5.34%	3.84%	3.95%	3.76%	3.96%	4.05%
HDFC Bank Ltd.	2.69%	2.60%	2.61%	2.72%	2.70%	2.62%	2.62%	2.52%	2.45%	2.34%	2.43%	2.44%	2.33%
ICICI Bank Ltd.	2.51%	2.52%	2.63%	2.74%	2.67%	2.67%	2.66%	2.55%	2.34%	2.37%	2.40%	2.42%	2.38%
State Bank Of India	1.13%	1.06%	0.98%	0.96%	0.98%	0.97%	0.96%	0.95%	0.87%	0.95%	0.97%	1.01%	0.98%
Bharti Airtel Ltd.	1.02%	0.94%	0.95%	0.94%	0.99%	0.91%	0.93%	0.87%	0.81%	1.02%	0.99%	1.01%	0.99%
Infosys Ltd.	0.83%	0.81%	0.83%	0.84%	0.89%	0.86%	0.84%	0.89%	0.98%	1.07%	1.17%	1.15%	1.08%
Axis Bank Ltd.	1.00%	0.92%	0.85%	0.86%	0.96%	0.95%	0.96%	0.90%	0.85%	0.81%	0.86%	0.92%	0.92%
ITC Limited	0.65%	0.63%	0.77%	0.76%	0.77%	0.77%	0.79%	0.77%	0.77%	0.85%	0.91%	0.89%	0.90%
Maruti Suzuki India Ltd.	1.01%	1.00%	0.93%	0.78%	0.76%	0.76%	0.76%	0.73%	0.77%	0.62%	0.54%	0.55%	0.54%
ICICI Lombard General Insurance Co Ltd.	0.74%	0.71%	0.69%	0.71%	0.75%	0.69%	0.70%	0.68%	0.66%	0.70%	0.67%	0.69%	0.71%
Transport Corporation Of India Ltd.	0.75%	0.74%	0.71%	0.72%	0.70%	0.69%	0.65%	0.69%	0.58%	0.67%	0.72%	0.66%	0.66%
SBI Life Insurance Co Ltd.	0.61%	0.56%	0.57%	0.57%	0.57%	0.56%	0.55%	0.49%	0.46%	0.47%	0.43%	0.45%	0.50%
Vesuvius India Ltd.	0.46%	0.48%	0.47%	0.48%	0.51%	0.55%	0.43%	0.43%	0.39%	0.40%	0.43%	0.50%	0.49%

No of Debt Holding 9 (Category Avg - 8.41) | Modified Duration 4.32 Years (Category Avg - 5.49)| Yield to Maturity 6.74% (Category Avg - 6.70%)

Portfolio Summary (as on 31st Oct,2025)

Security Type	% Weight	Category Average
GOI	26.88%	23.12%
T-Bills	0.00%	0.00%
NCD & Bonds	15.86%	8.74%
PTC	0.00%	0.33%

Category - Retirement Fund

Security Type	% Weight	Category Average
Government Backed	26.88%	23.12%
Low Risk	15.86%	9.07%
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 - Retirement Fund

Debt holding in Portfolio (as on 31st Oct,2025)

Instrument	Type	Sector	Rating	Rating Agency	Value (Mn)	% of Total Holding	Quantity
Bond - Govt of India	GOI	Other			140.48	8.72%	15.00 L
Bond - Mahindra Rural Housing Finance Ltd.	NCD & Bonds	Housing finance company	AA+	FITCH	103.14	6.40%	100.00
Bond - TMF Holdings Ltd.	NCD & Bonds	Non banking financial company (nbfc)	AA+	CRISIL	99.97	6.21%	100.00
Bond - Govt of India	GOI	Other			97.24	6.04%	10.00 L
Bond - Govt of India	GOI	Other			79.34	4.93%	7.50 L
Bond - Govt of India	GOI	Other			61.30	3.81%	5.50 L
Bond - Govt of India	GOI	Other			52.86	3.28%	5.00 L
Bond - Indian Railway Finance Corporation Ltd.	NCD & Bonds	Financial institution	AAA	CRISIL	52.36	3.25%	50.00
Bond - Govt of India	GOI	Other			1.59	0.10%	15.00 k