HSBC Tax Saver Equity Fund - 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 : ELSS

Equity Holding : 94.41% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 94.41%

No of Stocks : 51 (Category Avg - 54.22) | Large Cap Investments : 38.25%| Mid Cap Investments : 4.88% | Small Cap Investments : 25.4% | Other : 25.88%

Portfolio Summary (as on 30th Nov,2025)

Particulars	This Scheme	Category
No. of Stocks	51	54.18
Top 5 Stock Weight	27.41%	27.76%
Top 10 Stock Weight	43.85%	44.26%
Top 3 Sector Weight	29.29%	32.45%

Category - ELSS

Particulars	This Scheme	Category
Average mcap (Cr)	107889.87	96175.31
Holdings in large cap stocks	38.25%	39.46%
Holdings in mid cap stocks	4.88%	11.43%
Holdings in small cap stocks	25.4%	16.45%

Category - ELSS

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
# ICICI Bank Ltd.	Private sector bank	173.3	7.05%	0.00%	7.57% (Apr 2025)	6.13% (Dec 2024)	1.25 L
# HDFC Bank Ltd.	Private sector bank	139.8	5.68%	0.00%	5.71% (Feb 2025)	4.71% (Dec 2024)	1.39 L
# Multi Commodity Exchange Of India Ltd.	Exchange and data platform	133.2	5.42%	0.00%	4.96% (Oct 2025)	4.05% (Aug 2025)	13.22 k
# Reliance Industries Ltd.	Refineries & marketing	117.8	4.79%	0.00%	4.54% (Oct 2025)	3.5% (Dec 2024)	75.16 k
# Bharti Airtel Ltd.	Telecom - cellular & fixed line services	109.9	4.47%	0.00%	4.36% (Oct 2025)	3.18% (Dec 2024)	52.30 k
# Infosys Ltd.	Computers - software & consulting	97.5	3.97%	0.00%	6.58% (Feb 2025)	3.76% (Oct 2025)	62.50 k
# State Bank Of India	Public sector bank	84	3.42%	0.00%	3.26% (Oct 2025)	2.61% (Dec 2024)	85.80 k
# TVS Motor Company Ltd.	2/3 wheelers	81.4	3.31%	0.00%	3.3% (Sep 2025)	2.09% (Dec 2024)	23.05 k
# PB Fintech Ltd.	Financial technology (fintech)	72.9	2.97%	0.00%	3.78% (Dec 2024)	2.85% (Sep 2025)	40.10 k
# Dixon Technologies (India) Ltd.	Consumer electronics	68	2.77%	0.00%	5.16% (Dec 2024)	2.93% (Oct 2025)	4.66 k

- 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

Help me understand this table

Stock Invested in	Sector	Sector Total	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	M-Cap	GroupName
# ICICI Bank Ltd.	Private sector bank	16.8	173.3	7.05%	0.00%	7.57% (Apr 2025)	6.13% (Dec 2024)	1.25 L	Large Cap	38.25
# HDFC Bank Ltd.	Private sector bank	16.8	139.8	5.68%	0.00%	5.71% (Feb 2025)	4.71% (Dec 2024)	1.39 L	Other	25.88
# Multi Commodity Exchange Of India Ltd.	Exchange and data platform	5.42	133.2	5.42%	0.00%	4.96% (Oct 2025)	4.05% (Aug 2025)	13.22 k	Small Cap	25.4
# Reliance Industries Ltd.	Refineries & marketing	4.79	117.8	4.79%	0.00%	4.54% (Oct 2025)	3.5% (Dec 2024)	75.16 k	Large Cap	38.25
# Bharti Airtel Ltd.	Telecom - cellular & fixed line services	4.47	109.9	4.47%	0.00%	4.36% (Oct 2025)	3.18% (Dec 2024)	52.30 k	Large Cap	38.25
# Infosys Ltd.	Computers - software & consulting	4.96	97.5	3.97%	0.00%	6.58% (Feb 2025)	3.76% (Oct 2025)	62.50 k	Large Cap	38.25
# State Bank Of India	Public sector bank	3.42	84	3.42%	0.00%	3.26% (Oct 2025)	2.61% (Dec 2024)	85.80 k	Large Cap	38.25
# TVS Motor Company Ltd.	2/3 wheelers	3.35	81.4	3.31%	0.00%	3.3% (Sep 2025)	2.09% (Dec 2024)	23.05 k	Mid Cap	4.88
# PB Fintech Ltd.	Financial technology (fintech)	2.97	72.9	2.97%	0.00%	3.78% (Dec 2024)	2.85% (Sep 2025)	40.10 k	Other	25.88
# Dixon Technologies (India) Ltd.	Consumer electronics	2.77	68	2.77%	0.00%	5.16% (Dec 2024)	2.93% (Oct 2025)	4.66 k	Other	25.88
# KEI Industries Ltd.	Cables - electricals	2.77	68	2.77%	0.00%	3.45% (Dec 2024)	2.09% (Mar 2025)	16.40 k	Small Cap	25.4
# Axis Bank Ltd.	Private sector bank	16.8	66.9	2.72%	0.00%	2.63% (Apr 2025)	2.13% (Dec 2024)	52.30 k	Large Cap	38.25
# Prudent Corporate Advisory Services Ltd.	Financial products distributor	2.71	66.5	2.71%	0.00%	3.25% (May 2025)	2.11% (Feb 2025)	26.90 k	Other	25.88
# Amber Enterprises India Ltd.	Household appliances	2.44	60	2.44%	0.00%	4.26% (Jul 2025)	2.52% (Aug 2025)	8.35 k	Small Cap	25.4
# Titan Company Ltd.	Gems, jewellery and watches	3.65	59.8	2.43%	0.00%	2.33% (Oct 2025)	1.91% (Dec 2024)	15.30 k	Large Cap	38.25
# Sun Pharmaceutical Industries Ltd.	Pharmaceuticals	7.07	55.9	2.27%	0.00%	2.45% (Dec 2024)	2.02% (Aug 2025)	30.50 k	Large Cap	38.25
# Wockhardt Ltd.	Pharmaceuticals	7.07	44.6	1.81%	0.00%	2.44% (Jun 2025)	1.4% (Nov 2024)	36.10 k	Small Cap	25.4
# Radico Khaitan Ltd.	Breweries & distilleries	1.71	42	1.71%	0.00%	1.67% (Oct 2025)	1.21% (Jan 2025)	13.10 k	Small Cap	25.4
# Swiggy Ltd.	E-retail/ e-commerce	2.91	41.5	1.69%	0.00%	1.93% (Sep 2025)	0% (Nov 2024)	1.10 L	Other	25.88
# Lupin Ltd.	Pharmaceuticals	7.07	39.8	1.62%	0.00%	1.73% (Feb 2025)	1.46% (Jun 2025)	19.10 k	Large Cap	38.25
# Phoenix Mills Ltd.	Residential, commercial projects	2.77	38.2	1.55%	0.00%	1.64% (Nov 2024)	1.31% (Jul 2025)	22.00 k	Small Cap	25.4
# Larsen & Toubro Ltd.	Civil construction	2.02	36.8	1.50%	0.00%	2.24% (Nov 2024)	1.28% (Apr 2025)	9.04 k	Large Cap	38.25
# Kotak Mahindra Bank Ltd.	Private sector bank	16.8	33.3	1.35%	0.00%	1.5% (Mar 2025)	0% (Nov 2024)	15.65 k	Large Cap	38.25
# CCL Products (India) Ltd.	Tea & coffee	1.23	30.3	1.23%	0.00%	1.09% (Aug 2025)	0.73% (Mar 2025)	30.00 k	Small Cap	25.4
# Kalyan Jewellers India Ltd.	Gems, jewellery and watches	3.65	29.9	1.22%	0.00%	1.74% (Dec 2024)	1.12% (Sep 2025)	59.20 k	Other	25.88
# Eternal Ltd.	E-retail/ e-commerce	2.91	29.9	1.22%	0.00%	1.35% (Sep 2025)	0% (Nov 2024)	99.60 k	Other	25.88
# DLF Ltd.	Residential, commercial projects	2.77	29.9	1.22%	0.00%	1.82% (Dec 2024)	1.18% (Apr 2025)	41.30 k	Large Cap	38.25
# Poly Medicure Ltd.	Medical equipment & supplies	1.83	26.8	1.09%	0.00%	1.51% (Apr 2025)	1.07% (Jul 2025)	13.80 k	Small Cap	25.4
# Motherson Sumi Wiring India Ltd.	Auto components & equipments	1.06	26.2	1.06%	0.00%	1.1% (Oct 2025)	0.85% (Feb 2025)	5.73 L	Other	25.88
# Epigral Ltd.	Specialty chemicals	1.89	26.2	1.06%	0.00%	1.45% (Mar 2025)	1.19% (Oct 2025)	17.30 k	Other	25.88
# Indo Count Industries Ltd.	Other textile products	1.46	25.7	1.05%	0.00%	1.03% (Apr 2025)	0% (Nov 2024)	79.25 k	Small Cap	25.4
# KPIT Technologies Ltd.	Computers - software & consulting	4.96	24.3	0.99%	0.00%	0.98% (Aug 2025)	0.58% (Jun 2025)	19.90 k	Other	25.88
# PVR Inox Ltd.	Film production, distribution & exhibition	0.98	24	0.98%	0.00%	1.33% (Nov 2024)	0.86% (Jun 2025)	22.50 k	Small Cap	25.4
# Gokaldas Exports Ltd.	Garments & apparels	0.98	24	0.98%	0.00%	1.12% (Dec 2024)	0.72% (Aug 2025)	25.90 k	Small Cap	25.4
# GE T&D India Ltd.	Heavy electrical equipment	1.84	23.1	0.94%	0.00%	0.99% (Oct 2025)	0.51% (Feb 2025)	8.00 k	Small Cap	25.4
# Godrej Consumer Products Ltd	Personal care	0.93	22.9	0.93%	0.00%	1.07% (Apr 2025)	0.83% (Dec 2024)	20.00 k	Large Cap	38.25
# Entero Healthcare Solutions Ltd.	Pharmacy retail	0.92	22.7	0.92%	0.00%	1.1% (Jul 2025)	0.75% (May 2025)	21.40 k	Other	25.88
# KEC International Ltd.	Heavy electrical equipment	1.84	22.2	0.90%	0.00%	1.48% (Dec 2024)	0.96% (Apr 2025)	32.30 k	Small Cap	25.4
# Mankind Pharma Ltd.	Pharmaceuticals	7.07	21.2	0.86%	0.00%	0.97% (Jul 2025)	0% (Nov 2024)	9.40 k	Other	25.88
# Bharat Electronics Ltd.	Aerospace & defense	0.84	20.6	0.84%	0.00%	0.86% (Oct 2025)	0.56% (Dec 2024)	50.00 k	Mid Cap	4.88
# Gujarat Fluorochemicals Ltd.	Specialty chemicals	1.89	20.3	0.83%	0.00%	1.05% (Mar 2025)	0.84% (Aug 2025)	5.94 k	Other	25.88
# Kirloskar Pneumatic Co. Ltd.	Compressors, pumps & diesel engines	0.82	20.3	0.82%	0.00%	1.27% (Nov 2024)	0.85% (Oct 2025)	18.63 k	Small Cap	25.4
# Kajaria Ceramics Ltd.	Ceramics	0.78	19.2	0.78%	0.00%	0.9% (Aug 2025)	0.62% (Apr 2025)	18.00 k	Small Cap	25.4
# Laxmi Dental Ltd.	Medical equipment & supplies	1.83	18.1	0.74%	0.00%	1.12% (Jun 2025)	0% (Nov 2024)	65.40 k	Other	25.88
# Rural Electrification Corporation Limited	Financial institution	0.73	18.1	0.73%	0.00%	1.02% (Nov 2024)	0.73% (Aug 2025)	50.00 k	Mid Cap	4.88
# Global Health Ltd.	Hospital	0.61	15	0.61%	0.00%	0.68% (Aug 2025)	0.5% (Dec 2024)	12.00 k	Other	25.88
# PNC Infratech Ltd.	Civil construction	2.02	12.7	0.52%	0.00%	0.7% (Jan 2025)	0.58% (Mar 2025)	51.50 k	Small Cap	25.4
# Divis Laboratories Ltd.	Pharmaceuticals	7.07	12.6	0.51%	0.00%	0.53% (May 2025)	0% (Nov 2024)	1.95 k	Large Cap	38.25
# Vijaya Diagnostic Centre Ltd.	Healthcare service provider	0.51	12.5	0.51%	0.00%	0.56% (Mar 2025)	0% (Nov 2024)	12.50 k	Other	25.88
# Ganesha Ecosphere Ltd.	Other textile products	1.46	10.2	0.41%	0.00%	0.66% (Jul 2025)	0.42% (Apr 2025)	11.10 k	Small Cap	25.4
# TVS Motor Company Ltd. - Preference Shares	2/3 wheelers	3.35	0.9	0.04%	0.00%	0% (Dec 2025)	0% (Dec 2025)	92.20 k	Other	25.88

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

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
ICICI Bank Ltd.	7.05%	6.82%	7.01%	7.24%	7.40%	7.12%	7.38%	7.57%	7.43%	7.14%	6.61%	6.13%	6.24%
HDFC Bank Ltd.	5.68%	5.56%	5.50%	5.48%	5.60%	5.48%	5.52%	5.67%	5.60%	5.71%	4.98%	4.71%	4.79%
Infosys Ltd.	3.97%	3.76%	3.76%	3.81%	3.78%	3.95%	4.00%	3.99%	4.33%	6.58%	6.53%	5.92%	5.86%
Multi Commodity Exchange Of India Ltd.	5.42%	4.96%	4.30%	4.05%	4.07%	4.67%	4.44%	4.29%	4.34%	4.39%	4.49%	4.42%	4.40%
Reliance Industries Ltd.	4.79%	4.54%	4.27%	4.23%	4.18%	4.45%	4.37%	4.49%	4.23%	4.29%	4.02%	3.50%	3.73%
Bharti Airtel Ltd.	4.47%	4.36%	4.10%	4.10%	4.01%	4.15%	3.97%	4.15%	4.00%	3.90%	3.60%	3.18%	3.27%
Dixon Technologies (India) Ltd.	2.77%	2.93%	3.17%	3.23%	3.82%	3.35%	3.40%	3.96%	4.13%	4.70%	4.50%	5.16%	5.06%
Amber Enterprises India Ltd.	2.44%	2.72%	2.82%	2.52%	4.26%	3.57%	3.55%	3.49%	4.25%	4.01%	4.13%	4.25%	3.50%
PB Fintech Ltd.	2.97%	2.91%	2.85%	2.95%	2.91%	2.89%	3.37%	3.23%	3.28%	3.25%	3.42%	3.78%	3.41%
State Bank Of India	3.42%	3.26%	3.12%	2.86%	2.74%	2.78%	2.85%	2.88%	2.92%	2.81%	2.81%	2.61%	2.77%
Prudent Corporate Advisory Services Ltd.	2.71%	2.79%	2.89%	3.13%	3.15%	2.88%	3.25%	2.53%	2.77%	2.11%	2.31%	2.82%	3.15%
TVS Motor Company Ltd.	3.31%	3.28%	3.30%	3.13%	2.59%	2.65%	2.62%	2.62%	2.46%	2.44%	2.40%	2.09%	2.16%
KEI Industries Ltd.	2.77%	2.68%	2.78%	2.59%	2.52%	2.45%	2.42%	2.14%	2.09%	2.39%	2.79%	3.45%	3.37%
Axis Bank Ltd.	2.72%	2.62%	2.47%	2.27%	2.24%	2.48%	2.55%	2.63%	2.54%	2.52%	2.18%	2.13%	2.28%
Sun Pharmaceutical Industries Ltd.	2.27%	2.09%	2.03%	2.02%	2.08%	2.02%	2.09%	2.38%	2.34%	2.31%	2.25%	2.45%	2.32%