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Kotak Balanced Advantage Fund - Direct Plan - IDCW

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 : Dynamic Asset Allocation or Balanced Advantage

Portfolio Turnover Ratio : 215.61%. Category average turnover ratio is 416.69%. 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 : 67.20% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 67.20%

No of Stocks : 107 (Category Avg - 74.50) | Large Cap Investments : 42.72%| Mid Cap Investments : 6.43% | Small Cap Investments : 4.64% | Other : 13.41%

Portfolio Summary (as on 30th Sep,2025)

Particulars	This Scheme	Category
No. of Stocks	107	70.97
Top 5 Stock Weight	16.47%	21.7%
Top 10 Stock Weight	25.27%	33.29%
Top 3 Sector Weight	21.03%	24.61%

Category - Dynamic Asset Allocation or Balanced Advantage

Particulars	This Scheme	Category
Average mcap (Cr)	104667.56	93985.27
Holdings in large cap stocks	42.72%	38.9%
Holdings in mid cap stocks	6.43%	8.45%
Holdings in small cap stocks	4.64%	4.28%

Category - Dynamic Asset Allocation or Balanced Advantage

Top 10 Stocks holding in Portfolio (as on 30th Sep,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
ICICI Bank Ltd.	Private sector bank	6875.7	3.93%	-0.18%	4.31% (Jul 2025)	3.67% (Jan 2025)	51.01 L	0.00
Reliance Industries Ltd.	Refineries & marketing	6682.5	3.82%	-0.01%	4.16% (Jun 2025)	2.57% (Nov 2024)	48.99 L	0.00
HDFC Bank Ltd.	Private sector bank	6044.8	3.46%	-0.03%	5.86% (Oct 2024)	3.24% (Jan 2025)	63.56 L	0.00
State Bank Of India	Public sector bank	4993.9	2.86%	0.21%	2.86% (Sep 2025)	0.92% (Feb 2025)	57.24 L	0.00
Infosys Ltd.	Computers - software & consulting	4198.9	2.40%	-0.10%	4.02% (Jan 2025)	2.4% (Sep 2025)	29.12 L	-0.42 L
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	3525.7	2.02%	-0.02%	2.13% (Jun 2025)	1.4% (Dec 2024)	18.77 L	0.00
Larsen & Toubro Ltd.	Civil construction	3226.2	1.85%	0.02%	1.92% (May 2025)	1.74% (Feb 2025)	8.82 L	0.00
ITC Limited	Diversified fmcg	2989.5	1.71%	-0.05%	1.79% (May 2025)	1.44% (Mar 2025)	74.45 L	0.00
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	2952.5	1.69%	0.07%	1.92% (Nov 2024)	1.53% (Mar 2025)	8.62 L	-0.15 L
Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	2669.7	1.53%	0.05%	1.53% (Sep 2025)	1.08% (Jun 2025)	1.67 L	-6.43 k

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

View complete holding

Complete equity Portfolio (as on 30th Sep,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	1M Change in Qty	M-Cap	GroupName
ICICI Bank Ltd.	Private sector bank	9.92	6875.7	3.93%	-0.18%	4.31% (Jul 2025)	3.67% (Jan 2025)	51.01 L	0.00	Large Cap	42.72
Reliance Industries Ltd.	Refineries & marketing	4.81	6682.5	3.82%	-0.01%	4.16% (Jun 2025)	2.57% (Nov 2024)	48.99 L	0.00	Large Cap	42.72
HDFC Bank Ltd.	Private sector bank	9.92	6044.8	3.46%	-0.03%	5.86% (Oct 2024)	3.24% (Jan 2025)	63.56 L	0.00	Other	13.41
State Bank Of India	Public sector bank	3.38	4993.9	2.86%	0.21%	2.86% (Sep 2025)	0.92% (Feb 2025)	57.24 L	0.00	Large Cap	42.72
Infosys Ltd.	Computers - software & consulting	6.3	4198.9	2.40%	-0.10%	4.02% (Jan 2025)	2.4% (Sep 2025)	29.12 L	-0.42 L	Large Cap	42.72
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	2.41	3525.7	2.02%	-0.02%	2.13% (Jun 2025)	1.4% (Dec 2024)	18.77 L	0.00	Large Cap	42.72
Larsen & Toubro Ltd.	Civil construction	1.97	3226.2	1.85%	0.02%	1.92% (May 2025)	1.74% (Feb 2025)	8.82 L	0.00	Large Cap	42.72
ITC Limited	Diversified fmcg	2.54	2989.5	1.71%	-0.05%	1.79% (May 2025)	1.44% (Mar 2025)	74.45 L	0.00	Large Cap	42.72
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	3.45	2952.5	1.69%	0.07%	1.92% (Nov 2024)	1.53% (Mar 2025)	8.62 L	-0.15 L	Large Cap	42.72
Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	3.45	2669.7	1.53%	0.05%	1.53% (Sep 2025)	1.08% (Jun 2025)	1.67 L	-6.43 k	Large Cap	42.72
Bajaj Finance Ltd.	Non banking financial company (nbfc)	1.99	2614.4	1.50%	0.14%	1.5% (Sep 2025)	0.95% (Oct 2024)	26.17 L	-0.68 L	Other	13.41
InterGlobe Aviation Ltd.	Airline	1.41	2463.3	1.41%	-0.12%	2.64% (May 2025)	1.41% (Sep 2025)	4.40 L	-0.30 L	Large Cap	42.72
Axis Bank Ltd.	Private sector bank	9.92	2452.4	1.40%	0.09%	1.65% (Apr 2025)	1.31% (Aug 2025)	21.67 L	0.00	Large Cap	42.72
Eternal Ltd.	E-retail/ e-commerce	1.44	2385.8	1.37%	0.04%	1.43% (Nov 2024)	0.68% (Oct 2024)	73.30 L	0.00	Other	13.41
Solar Industries India Ltd.	Explosives	1.17	2040	1.17%	-0.05%	1.52% (Jun 2025)	0.76% (Feb 2025)	1.53 L	0.00	Small Cap	4.64
Kotak Mahindra Bank Ltd.	Private sector bank	9.92	1980	1.13%	0.02%	1.29% (Mar 2025)	1.01% (Oct 2024)	9.94 L	12.55 k	Large Cap	42.72
Adani Ports And Special Economic Zone Ltd.	Port & port services	1.05	1834.7	1.05%	0.06%	1.17% (Oct 2024)	0.94% (Jan 2025)	13.07 L	0.00	Large Cap	42.72
Bharat Petroleum Corporation Ltd.	Refineries & marketing	4.81	1725.8	0.99%	0.09%	0.99% (Sep 2025)	0.75% (Jan 2025)	50.81 L	0.00	Large Cap	42.72
Mphasis Ltd.	Computers - software & consulting	6.3	1694	0.97%	-0.10%	1.15% (Nov 2024)	0.87% (Feb 2025)	6.38 L	-0.28 L	Mid Cap	6.43
Tata Consultancy Services Ltd.	Computers - software & consulting	6.3	1690.6	0.97%	-0.07%	1.77% (Nov 2024)	0.97% (Sep 2025)	5.85 L	0.00	Large Cap	42.72
Ultratech Cement Ltd.	Cement & cement products	1.94	1632.3	0.93%	-0.04%	0.97% (Aug 2025)	0.82% (Nov 2024)	1.34 L	0.00	Large Cap	42.72
Coromandel International Ltd.	Fertilizers	0.92	1607.2	0.92%	-0.03%	1.21% (Jul 2025)	0.92% (Sep 2025)	7.15 L	0.00	Mid Cap	6.43
Vedanta Ltd.	Diversified metals	0.92	1604.9	0.92%	0.08%	1.29% (Mar 2025)	0.84% (Aug 2025)	34.45 L	0.00	Large Cap	42.72
Sun Pharmaceutical Industries Ltd.	Pharmaceuticals	2.19	1594.1	0.91%	-0.01%	1.08% (Apr 2025)	0.83% (Feb 2025)	10.00 L	0.00	Large Cap	42.72
GE T&D India Ltd.	Heavy electrical equipment	0.89	1556.8	0.89%	0.05%	0.89% (Sep 2025)	0% (Oct 2024)	5.26 L	0.00	Small Cap	4.64
Ambuja Cements Ltd.	Cement & cement products	1.94	1514.7	0.87%	0.01%	1.14% (Oct 2024)	0.86% (Aug 2025)	26.58 L	0.00	Large Cap	42.72
Hindustan Unilever Ltd.	Diversified fmcg	2.54	1445.3	0.83%	-0.05%	1.25% (Jan 2025)	0.75% (Jun 2025)	5.75 L	0.00	Large Cap	42.72
Persistent Systems Ltd.	Computers - software & consulting	6.3	1438.6	0.82%	-0.09%	1.25% (Nov 2024)	0.82% (Sep 2025)	2.98 L	0.00	Other	13.41
Power Grid Corporation of India Ltd.	Power - transmission	0.82	1424.9	0.82%	0.14%	0.82% (Oct 2024)	0.68% (Feb 2025)	50.84 L	8.00 L	Large Cap	42.72
National Thermal Power Corporation Ltd.	Power generation	1.05	1376.6	0.79%	0.03%	0.89% (Mar 2025)	0.43% (Oct 2024)	40.44 L	0.00	Large Cap	42.72
Schaeffler India Ltd.	Auto components & equipments	2.29	1283.7	0.73%	0.05%	0.74% (May 2025)	0.59% (Feb 2025)	3.05 L	0.00	Other	13.41
Tech Mahindra Ltd.	Computers - software & consulting	6.3	1239.1	0.71%	-0.08%	1.11% (Jan 2025)	0.71% (Sep 2025)	8.85 L	-0.45 L	Large Cap	42.72
Gujarat State Petronet Ltd.	Gas transmission/marketing	0.66	1146.8	0.66%	0.04%	0.86% (Oct 2024)	0.62% (Aug 2025)	37.05 L	0.00	Mid Cap	6.43
V-Guard Industries Ltd.	Household appliances	0.63	1105.6	0.63%	0.01%	0.76% (Oct 2024)	0.58% (Feb 2025)	29.44 L	0.00	Small Cap	4.64
Power Finance Corporation Ltd.	Financial institution	0.62	1076.4	0.62%	0.05%	0.65% (Mar 2025)	0.44% (Feb 2025)	26.24 L	0.00	Mid Cap	6.43
ICICI Lombard General Insurance Co Ltd.	General insurance	0.6	1051.4	0.60%	0.01%	0.64% (Oct 2024)	0.59% (Aug 2025)	5.56 L	0.00	Large Cap	42.72
Yatharth Hospital And Trauma Care Services Ltd.	Hospital	1.52	1018	0.58%	-0.01%	0.59% (Aug 2025)	0% (Oct 2024)	13.73 L	-1.07 L	Other	13.41
United Spirits Ltd.	Breweries & distilleries	0.58	1004.8	0.58%	0.01%	0.92% (Dec 2024)	0.57% (Aug 2025)	7.59 L	0.00	Large Cap	42.72
Bosch Ltd.	Auto components & equipments	2.29	974	0.56%	-0.09%	0.67% (Oct 2024)	0.53% (Feb 2025)	25.54 k	-2.50 k	Large Cap	42.72
# Aptus Value Housing Finance India Ltd.	Housing finance company	0.56	972.4	0.56%	0.56%	0.56% (Sep 2025)	0% (Oct 2024)	30.41 L	30.41 L	Other	13.41
Hindalco Industries Ltd.	Aluminium	0.54	943.5	0.54%	0.04%	0.66% (Oct 2024)	0.48% (Jul 2025)	12.38 L	0.00	Large Cap	42.72
PB Fintech Ltd.	Financial technology (fintech)	0.53	922	0.53%	-0.02%	0.71% (Dec 2024)	0.52% (Apr 2025)	5.42 L	0.00	Other	13.41
Jubilant Foodworks Ltd.	Restaurants	0.5	858.2	0.49%	-0.01%	0.55% (Jun 2025)	0% (Oct 2024)	13.90 L	0.00	Other	13.41
Godrej Consumer Products Ltd	Personal care	0.48	837.7	0.48%	-0.37%	0.98% (Oct 2024)	0.48% (Sep 2025)	7.18 L	-4.66 L	Large Cap	42.72
- Motherson Sumi Systems Ltd.	Auto components & equipments	2.29	802.1	0.46%	0.00%	1.12% (Oct 2024)	0.46% (Aug 2025)	75.92 L	-9.23 L	Large Cap	42.72
Apollo Tyres Limited	Tyres & rubber products	0.45	787.1	0.45%	0.01%	0.46% (Apr 2025)	0.39% (Feb 2025)	16.64 L	0.00	Mid Cap	6.43
- Indus Towers Ltd.	Telecom - infrastructure	0.43	759.2	0.43%	0.00%	0.67% (Apr 2025)	0% (Oct 2024)	22.14 L	0.00	Large Cap	42.72
Oberoi Realty Ltd.	Residential, commercial projects	1.24	758.8	0.43%	-0.02%	0.75% (Dec 2024)	0.43% (Sep 2025)	4.80 L	0.00	Mid Cap	6.43
Wipro Ltd.	Computers - software & consulting	6.3	756.7	0.43%	-0.02%	0.59% (Jan 2025)	0.31% (Oct 2024)	31.61 L	0.00	Large Cap	42.72
- Mahindra Lifespace Developers Ltd.	Residential, commercial projects	1.24	727.3	0.42%	0.00%	0.44% (Jul 2025)	0.27% (Mar 2025)	20.58 L	0.00	Small Cap	4.64
Krishna Institute of Medical Sciences Ltd.	Hospital	1.52	722.1	0.41%	-0.02%	0.44% (Jul 2025)	0.31% (Oct 2024)	10.31 L	0.00	Other	13.41
Shriram Finance Ltd.	Non banking financial company (nbfc)	1.99	716.3	0.41%	0.02%	0.47% (Jun 2025)	0.34% (Jan 2025)	11.63 L	0.00	Other	13.41
Oil & Natural Gas Corporation Ltd.	Oil exploration & production	0.41	709.6	0.41%	0.01%	0.47% (Jan 2025)	0.4% (Dec 2024)	29.63 L	0.00	Large Cap	42.72
HDFC Life Insurance Company Ltd.	Life insurance	0.4	706.4	0.40%	-0.02%	0.53% (Oct 2024)	0.34% (Dec 2024)	9.34 L	0.00	Large Cap	42.72
- Ratnamani Metals & Tubes Ltd.	Iron & steel products	0.6	697.9	0.40%	0.00%	0.64% (Oct 2024)	0.4% (Aug 2025)	2.90 L	0.00	Small Cap	4.64
Sansera Engineering Ltd.	Auto components & equipments	2.29	690.2	0.39%	0.02%	0.47% (Nov 2024)	0.32% (Apr 2025)	5.03 L	0.00	Other	13.41
Bharat Electronics Ltd.	Aerospace & defense	0.56	684.4	0.39%	0.03%	0.4% (Jun 2025)	0.14% (Feb 2025)	16.94 L	0.00	Mid Cap	6.43
Apollo Hospitals Enterprises Ltd.	Hospital	1.52	648.3	0.37%	-0.01%	0.38% (Dec 2024)	0.33% (Feb 2025)	87.50 k	0.00	Mid Cap	6.43
- Bajaj Auto Ltd.	2/3 wheelers	0.36	629	0.36%	0.00%	0.36% (Sep 2025)	0% (Oct 2024)	72.47 k	0.00	Large Cap	42.72
J.b. Chemicals & Pharmaceuticals Ltd.	Pharmaceuticals	2.19	601.3	0.34%	-0.01%	0.36% (Feb 2025)	0.32% (Nov 2024)	3.52 L	0.00	Other	13.41
Titan Company Ltd.	Gems, jewellery and watches	0.31	535	0.31%	-0.02%	0.44% (Oct 2024)	0.31% (Jul 2025)	1.59 L	0.00	Large Cap	42.72
Bank Of Baroda	Public sector bank	3.38	530.9	0.30%	0.02%	0.43% (Nov 2024)	0.28% (Aug 2025)	20.53 L	0.00	Large Cap	42.72
SRF Ltd.	Specialty chemicals	0.3	529.1	0.30%	-0.01%	0.34% (Jun 2025)	0% (Oct 2024)	1.87 L	0.00	Mid Cap	6.43
Ami Organics Ltd.	Pharmaceuticals	2.19	513.9	0.29%	-0.03%	0.32% (Aug 2025)	0% (Oct 2024)	3.90 L	0.00	Other	13.41
- Carborundum Universal Ltd.	Abrasives & bearings	0.29	512.3	0.29%	0.00%	0.46% (Nov 2024)	0.28% (Feb 2025)	5.54 L	0.00	Small Cap	4.64
Cipla Ltd.	Pharmaceuticals	2.19	482.2	0.28%	-0.01%	0.29% (Aug 2025)	0.04% (Nov 2024)	3.21 L	0.00	Large Cap	42.72
- Godrej Properties Ltd.	Residential, commercial projects	1.24	474.3	0.27%	0.00%	0.63% (Dec 2024)	0% (Oct 2024)	2.41 L	0.00	Mid Cap	6.43
NTPC Green Energy Ltd.	Power generation	1.05	450.6	0.26%	-0.05%	0.66% (Dec 2024)	0% (Oct 2024)	46.35 L	-5.15 L	Other	13.41
KEI Industries Ltd.	Cables - electricals	0.24	427.5	0.24%	0.01%	0.26% (Dec 2024)	0% (Oct 2024)	1.05 L	0.00	Small Cap	4.64
Bharti Airtel Ltd. - Partly Paid	Telecom - cellular & fixed line services	2.41	421.4	0.24%	-0.01%	0.26% (Jun 2025)	0.21% (Dec 2024)	2.99 L	0.00	Other	13.41
- Tata Motors Ltd.	Passenger cars & utility vehicles	3.45	408.1	0.23%	0.00%	0.26% (Jan 2025)	0% (Oct 2024)	6.00 L	0.00	Large Cap	42.72
DR. LAL PATHLABS Ltd.	Healthcare service provider	0.2	357.8	0.20%	-0.02%	0.22% (Aug 2025)	0% (Oct 2024)	1.15 L	0.00	Small Cap	4.64
- Astral Ltd.	Plastic products - industrial	0.2	356.7	0.20%	0.00%	0.37% (Nov 2024)	0.2% (Aug 2025)	2.61 L	0.00	Mid Cap	6.43
Jindal Steel Ltd.	Iron & steel products	0.6	354.4	0.20%	0.19%	0.2% (Sep 2025)	0.01% (Aug 2025)	3.33 L	3.19 L	Mid Cap	6.43
Jyoti CNC Automation Ltd.	Industrial products	0.2	345.2	0.20%	-0.01%	0.32% (Dec 2024)	0.2% (Sep 2025)	4.06 L	0.00	Other	13.41
Coal India Ltd.	Coal	0.19	327.6	0.19%	0.01%	0.23% (Oct 2024)	0.18% (Jul 2025)	8.40 L	0.00	Large Cap	42.72
Zen Technologies Ltd.	Aerospace & defense	0.56	301.9	0.17%	-0.01%	0.37% (Dec 2024)	0.17% (Feb 2025)	2.11 L	0.00	Small Cap	4.64
- Havells India Ltd.	Consumer electronics	0.17	291.9	0.17%	0.00%	0.18% (Apr 2025)	0% (Oct 2024)	1.94 L	0.00	Large Cap	42.72
Rainbow Childrens Medicare Ltd.	Hospital	1.52	271.2	0.16%	0.05%	0.16% (Sep 2025)	0% (Oct 2024)	2.00 L	69.64 k	Other	13.41
Computer Age Management Services Pvt Ltd.	Depositories, clearing houses and other intermediaries	0.16	270.9	0.16%	0.01%	0.16% (Sep 2025)	0% (Oct 2024)	72.07 k	0.00	Other	13.41
WABCO India Ltd.	Auto components & equipments	2.29	261.2	0.15%	-0.01%	0.17% (Oct 2024)	0.13% (Jan 2025)	20.24 k	0.00	Mid Cap	6.43
Tata Communications Ltd.	Telecom - cellular & fixed line services	2.41	258.1	0.15%	0.01%	0.17% (Oct 2024)	0.14% (Aug 2025)	1.60 L	0.00	Mid Cap	6.43
Canara Bank	Public sector bank	3.38	228.8	0.13%	0.02%	0.13% (Sep 2025)	0.09% (Feb 2025)	18.50 L	0.00	Other	13.41
- Lupin Ltd.	Pharmaceuticals	2.19	225.5	0.13%	0.00%	0.15% (Apr 2025)	0% (Oct 2024)	1.18 L	0.00	Large Cap	42.72
DLF Ltd.	Residential, commercial projects	1.24	217.1	0.12%	-0.01%	0.31% (Dec 2024)	0.12% (Sep 2025)	3.04 L	0.00	Large Cap	42.72
Techno Electric & Engineering Co. Ltd.	Civil construction	1.97	209.5	0.12%	-0.02%	0.15% (Oct 2024)	0.1% (Feb 2025)	1.57 L	0.00	Small Cap	4.64
# CreditAccess Grameen Ltd.	Microfinance institutions	0.11	199.3	0.11%	0.11%	0.11% (Sep 2025)	0% (Oct 2024)	1.47 L	1.47 L	Small Cap	4.64
Grasim Industries Limited	Cement & cement products	1.94	198.5	0.11%	-0.01%	0.12% (Aug 2025)	0% (Oct 2024)	72.00 k	0.00	Large Cap	42.72
- Glenmark Pharmaceuticals Ltd.	Pharmaceuticals	2.19	182.3	0.10%	0.00%	0.19% (Oct 2024)	0.1% (Sep 2025)	93.38 k	0.00	Mid Cap	6.43
- Edelweiss Securities Pvt. Ltd.	Stockbroking & allied	0.1	178.8	0.10%	0.00%	0.1% (Jun 2025)	0% (Oct 2024)	28.36 k	0.00	Other	13.41
Piramal Pharma Ltd.	Pharmaceuticals	2.19	167.3	0.10%	0.01%	0.1% (Sep 2025)	0% (Oct 2024)	8.75 L	0.00	Other	13.41
Punjab National Bank	Public sector bank	3.38	154.4	0.09%	0.01%	0.14% (Nov 2024)	0.08% (Jul 2025)	13.68 L	0.00	Large Cap	42.72
- Cummins India Ltd.	Compressors, pumps & diesel engines	0.08	146.1	0.08%	0.00%	0.25% (Oct 2024)	0.08% (Aug 2025)	37.20 k	0.00	Mid Cap	6.43
- HDB Financial Services Ltd.	Non banking financial company (nbfc)	1.99	133.9	0.08%	0.00%	0.08% (Aug 2025)	0% (Oct 2024)	1.78 L	0.00	Other	13.41
- FSN E-Commerce Ventures Ltd.	E-retail/ e-commerce	1.44	114.6	0.07%	0.00%	0.2% (Jun 2025)	0.06% (Jul 2025)	4.93 L	0.00	Other	13.41
- Adani Enterprises Ltd.	Trading - minerals	0.05	91.7	0.05%	0.00%	0.06% (Oct 2024)	0.05% (Dec 2024)	36.60 k	0.00	Mid Cap	6.43
- Zydus Lifesciences Ltd.	Pharmaceuticals	2.19	58.3	0.03%	0.00%	0.2% (Oct 2024)	0.03% (Sep 2025)	59.40 k	0.00	Mid Cap	6.43
# Indian Hotels Company Limited	Hotels & resorts	0.03	49.8	0.03%	0.03%	0.03% (Sep 2025)	0% (Oct 2024)	69.11 k	69.11 k	Mid Cap	6.43
Dalmia Bharat Ltd.	Cement & cement products	1.94	48	0.03%	-0.05%	0.08% (Aug 2025)	0% (Oct 2024)	21.53 k	-0.34 L	Mid Cap	6.43
- Bajaj Finserv Ltd	Holding company	0.02	33.1	0.02%	0.00%	0.03% (Oct 2024)	0.02% (Nov 2024)	16.50 k	0.00	Other	13.41
# Bharat Forge Ltd.	Castings & forgings	0.02	30.3	0.02%	0.02%	0.02% (Sep 2025)	0% (Oct 2024)	25.00 k	25.00 k	Mid Cap	6.43
Devyani International Ltd.	Restaurants	0.5	25.4	0.01%	-0.01%	0.02% (Apr 2025)	0% (Oct 2024)	1.51 L	0.00	Other	13.41
- Biocon Ltd.	Pharmaceuticals	2.19	11.1	0.01%	0.00%	0.01% (Nov 2024)	0.01% (Dec 2024)	32.50 k	0.00	Mid Cap	6.43
- Steel Authority Of India Ltd.	Iron & steel products	0.6	7	0.00%	0.00%	0% (Nov 2024)	0% (Jun 2025)	51.70 k	0.00	Mid Cap	6.43
- Fortis Healthcare Ltd.	Hospital	1.52	6.8	0.00%	0.00%	0% (Aug 2025)	0% (Oct 2024)	6.98 k	0.00	Other	13.41
- Container Corporation Of India Ltd.	Logistics solution provider	0	0.7	0.00%	0.00%	0.02% (Apr 2025)	0% (Aug 2025)	1.25 k	0.00	Large Cap	42.72
- Metro Brands Ltd.	Footwear	0	0.5	0.00%	0.00%	0% (Aug 2025)	0% (Oct 2024)	410.00	24.00	Other	13.41
Britannia Industries Ltd.	Packaged foods		209.1	0.00%	-0.12%	-	-	-	-	Large Cap	42.72
Bond - National Bank for Agriculture & Rural Development	Financial institution	0.62	505.9	0.00%	-0.29%	-	-	-	-	Other	13.41
Dixon Technologies (India) Ltd.	Consumer electronics	0.17	10	0.00%	-0.01%	-	-	-	-	Other	13.41

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

New Stocks added in Portfolio (in 1 month period ending 30th Sep,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
# Bharat Forge Ltd.	Castings & forgings	30.3	0.02%	0.02%	0.02% (Sep 2025)	0% (Oct 2024)	25.00 k	25000
# Indian Hotels Company Limited	Hotels & resorts	49.8	0.03%	0.03%	0.03% (Sep 2025)	0% (Oct 2024)	69.11 k	69108
# Aptus Value Housing Finance India Ltd.	Housing finance company	972.4	0.56%	0.56%	0.56% (Sep 2025)	0% (Oct 2024)	30.41 L	3041097
# Bond - Jtpm Metal Traders Pvt Ltd.	Trading - metals	2003.2	1.15%	1.15%	0% (Oct 2025)	0% (Oct 2025)	20.00 k	20000
# CreditAccess Grameen Ltd.	Microfinance institutions	199.3	0.11%	0.11%	0.11% (Sep 2025)	0% (Oct 2024)	1.47 L	147280
# Reverse Repo	Other	2500	1.43%	1.43%	0% (Oct 2025)	0% (Oct 2025)	0.00	0
# Bond - Union Bank Of India	Public sector bank	49.4	0.03%	0.03%	0% (Oct 2025)	0% (Oct 2025)	500.00	500
# Bond - Nuvoco Vistas Corporation Ltd.	Cement & cement products	497.6	0.28%	0.28%	0% (Oct 2025)	0% (Oct 2025)	1.00 k	1000

Stocks removed from Portfolio (in 1 month period ending 30th Sep,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	1M Change in Qty
Britannia Industries Ltd.	Packaged foods	209.1	0.00%	-0.12%	0.12% (Aug 2025)	0% (Oct 2024)	-35905
Bond - National Bank for Agriculture & Rural Development	Financial institution	505.9	0.00%	-0.29%	0% (Oct 2025)	0% (Oct 2025)	-5000
Dixon Technologies (India) Ltd.	Consumer electronics	10	0.00%	-0.01%	0.01% (Aug 2025)	0% (Oct 2024)	-600

Trend in stock holdings (Top 15 Holding)

Stock	Sep 2025	Aug 2025	Jul 2025	Jun 2025	May 2025	Apr 2025	Mar 2025	Feb 2025	Jan 2025	Dec 2024	Nov 2024	Oct 2024	Sep 2024
HDFC Bank Ltd.	3.46%	3.49%	3.66%	3.60%	3.56%	3.60%	3.51%	3.48%	3.24%	4.41%	5.07%	5.86%	5.70%
ICICI Bank Ltd.	3.93%	4.11%	4.31%	4.17%	4.25%	4.28%	4.16%	3.71%	3.67%	3.69%	3.73%	3.76%	3.58%
Reliance Industries Ltd.	3.82%	3.83%	3.88%	4.16%	4.01%	4.05%	3.62%	3.02%	3.02%	3.00%	2.57%	2.60%	2.80%
Infosys Ltd.	2.40%	2.50%	2.54%	3.25%	3.23%	3.16%	3.38%	3.80%	4.02%	3.95%	3.90%	3.74%	3.91%
InterGlobe Aviation Ltd.	1.41%	1.53%	1.84%	2.60%	2.64%	2.35%	2.35%	2.18%	2.00%	2.07%	1.99%	1.86%	2.16%
Larsen & Toubro Ltd.	1.85%	1.83%	1.83%	1.83%	1.92%	1.78%	1.91%	1.74%	1.86%	1.85%	1.91%	1.88%	1.82%
Bharti Airtel Ltd.	2.02%	2.04%	2.05%	2.13%	2.01%	1.68%	1.57%	1.49%	1.46%	1.40%	1.44%	1.44%	1.49%
Mahindra & Mahindra Ltd.	1.69%	1.62%	1.64%	1.61%	1.63%	1.64%	1.53%	1.65%	1.81%	1.79%	1.92%	1.76%	1.84%
ITC Limited	1.71%	1.76%	1.75%	1.75%	1.79%	1.56%	1.44%	1.45%	1.56%	1.61%	1.58%	1.55%	1.60%
Axis Bank Ltd.	1.40%	1.31%	1.32%	1.47%	1.49%	1.65%	1.58%	1.52%	1.40%	1.49%	1.59%	1.64%	1.71%
Tata Consultancy Services Ltd.	0.97%	1.04%	1.01%	1.15%	1.17%	1.19%	1.56%	1.52%	1.71%	1.70%	1.77%	1.66%	1.75%
State Bank Of India	2.86%	2.65%	2.60%	1.10%	1.11%	1.10%	0.98%	0.92%	0.94%	0.95%	0.93%	0.92%	0.54%
Maruti Suzuki India Ltd.	1.53%	1.48%	1.11%	1.08%	1.09%	1.27%	1.38%	1.49%	1.21%	1.27%	1.29%	1.31%	1.52%
Eternal Ltd.	1.37%	1.33%	1.29%	1.15%	1.06%	1.05%	1.88%	-	-	-	-	-	-
Zomato Ltd.	-	-	-	-	-	-	-	1.08%	1.02%	1.23%	1.43%	0.68%	0.75%
Bajaj Finance Ltd.	1.50%	1.36%	1.35%	1.42%	1.42%	1.36%	1.45%	1.45%	1.27%	1.08%	1.04%	0.95%	0.97%

No of Debt Holding 53 (Category Avg - 29.21) | Modified Duration 7.19 Years (Category Avg - 3.13)| Yield to Maturity 7.01% (Category Avg - 6.63%)

Portfolio Summary (as on 30th Sep,2025)

Security Type	% Weight	Category Average
GOI	16.76%	8.68%
CD	0.06%	0.43%
T-Bills	0.00%	1.16%
CP	0.85%	0.30%
NCD & Bonds	6.88%	11.10%
PTC	0.00%	0.31%

Category - Dynamic Asset Allocation or Balanced Advantage

Security Type	% Weight	Category Average
Government Backed	16.76%	9.84%
Low Risk	7.70%	11.16%
Moderate Risk	0.09%	0.75%
High Risk	0.00%	0.00%
Very High Risk	0.00%	0.00%
Others	0.00%	0.00%

Category - Dynamic Asset Allocation or Balanced Advantage

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

Instrument	Type	Sector	Rating	Rating Agency	Value (Mn)	% of Total Holding	Quantity
Bond - Govt of India	GOI	Other			13311.14	7.62%	13.21 Cr
Bond - Govt of India	GOI	Other			3912.61	2.24%	3.97 Cr
Bond - Govt of India	GOI	Other			3504.00	2.01%	3.47 Cr
Bond - Govt of India	GOI	Other			2529.28	1.45%	2.65 Cr
Bond - National Housing Bank	NCD & Bonds	Financial institution	CARE AAA	CARE	2219.24	1.27%	22.50 k
Bond - Govt of India	GOI	Other			2047.07	1.17%	2.10 Cr
Bond - Jtpm Metal Traders Pvt Ltd.	NCD & Bonds	Trading - metals	AA	CRISIL	2003.19	1.15%	20.00 k
Bond - Bharti Telecom Ltd.	NCD & Bonds	Telecom - equipment & accessories	AAA	CRISIL	1789.84	1.02%	17.50 k
Bond - Govt of India	GOI	Other			1492.50	0.85%	1.50 Cr
Bond - Govt of India	GOI	Other			1007.88	0.58%	1.03 Cr
Bond - Bajaj Auto Credit Ltd.	CP	Non banking financial company (nbfc)	P1+	CRISIL	991.47	0.57%	2.00 k
Bond - Rural Electrification Corporation Limited	NCD & Bonds	Financial institution	AAA	CRISIL	976.45	0.56%	17.50 k
Bond - Telangana State Industrial Infrastructure Corporation Ltd.	NCD & Bonds	Diversified commercial services	AA	FITCH	901.52	0.52%	8.90 k
Bond - Mindspace Business Parks REIT	NCD & Bonds	Real estate investment trusts (reits)	AAA	CRISIL	768.72	0.44%	7.50 k
Bond - Telangana State Industrial Infrastructure Corporation Ltd.	NCD & Bonds	Diversified commercial services	AA	FITCH	534.71	0.31%	5.25 k
Bond - Telangana State Industrial Infrastructure Corporation Ltd.	NCD & Bonds	Diversified commercial services	AA	FITCH	529.41	0.30%	5.25 k
Bond - Muthoot Finance Pvt. Ltd.	NCD & Bonds	Non banking financial company (nbfc)	AA+	CRISIL	515.94	0.30%	5.00 k
Bond - Nuvoco Vistas Corporation Ltd.	CP	Cement & cement products	P1+	CRISIL	497.60	0.28%	1.00 k
Bond - Power Finance Corporation Ltd.	NCD & Bonds	Financial institution	LAAA	ICRA	409.80	0.23%	400.00
Bond - Rural Electrification Corporation Limited	NCD & Bonds	Financial institution	AAA	CRISIL	398.31	0.23%	400.00
Bond - HDFC Bank Ltd.	NCD & Bonds	Private sector bank	CARE AAA	CARE	256.56	0.15%	2.50 k
Bond - Govt of India	GOI	Other			235.38	0.13%	23.95 L
Bond - Aditya Birla Finance Ltd.	NCD & Bonds	Non banking financial company (nbfc)	LAAA	ICRA	171.18	0.10%	1.70 L
Bond - U P Power Corporation Ltd.	NCD & Bonds	Power - transmission	A+	CRISIL	152.33	0.09%	150.00
Bond - Govt of India	GOI	Other			149.87	0.09%	31.20 L
Bond - Govt of India	GOI	Other			131.21	0.08%	30.36 L
Bond - Govt of India	GOI	Other			112.83	0.06%	30.36 L
Bond - Govt of India	GOI	Other			109.05	0.06%	30.36 L
Bond - Govt of India	GOI	Other			105.34	0.06%	30.36 L
Bond - Govt of India	GOI	Other			97.88	0.06%	30.36 L
Bond - Power Finance Corporation Ltd.	NCD & Bonds	Financial institution	AAA	CRISIL	101.74	0.06%	100.00
Bond - Govt of India	GOI	Other			103.27	0.06%	10.00 L
Bond - Govt of India	GOI	Other			75.83	0.04%	30.36 L
Bond - Govt of India	GOI	Other			70.06	0.04%	30.36 L
Bond - Govt of India	GOI	Other			60.34	0.03%	20.56 L
Bond - Canara Bank	CD	Public sector bank	P1+	CRISIL	49.49	0.03%	500.00
Bond - Union Bank Of India	CD	Public sector bank	A1+	ICRA	49.40	0.03%	500.00
Bond - Govt of India	GOI	Other			56.20	0.03%	5.41 L
Bond - Govt of India	GOI	Other			50.67	0.03%	5.00 L
Bond - HDB Financial Services Ltd.	NCD & Bonds	Non banking financial company (nbfc)	AAA	CRISIL	50.71	0.03%	500.00
Bond - Tata Projects Ltd.	NCD & Bonds	Civil construction	AA	FITCH	50.58	0.03%	500.00
Bond - Tata Capital Ltd.	NCD & Bonds	Non banking financial company (nbfc)	AAA	CRISIL	50.46	0.03%	50.00
Bond - Punjab National Bank	NCD & Bonds	Public sector bank	AAA	CRISIL	49.74	0.03%	5.00
Bond - Power Grid Corporation of India Ltd.	NCD & Bonds	Power - transmission	AAA	CRISIL	36.17	0.02%	35.00
Bond - Govt of India	GOI	Other			36.57	0.02%	3.61 L
Bond - Govt of India	GOI	Other			26.69	0.02%	2.60 L
Bond - Govt of India	GOI	Other			20.65	0.01%	2.00 L
Bond - Govt of India	GOI	Other			9.83	0.01%	96.00 k
Bond - LIC Housing Finance Ltd.	NCD & Bonds	Housing finance company	AAA	CRISIL	14.94	0.01%	15.00
Bond - Govt of India	GOI	Other			22.24	0.01%	2.34 L
Bond - Govt of India	GOI	Other			0.03	0.00%	330.00
Bond - Govt of India	GOI	Other			0.02	0.00%	250.00
Bond - Govt of India	GOI	Other			0.00	0.00%	20.00

Name	Type of Instrument	Weight (%)
TREPS	TREPS	4.62%
Reverse Repo	Reverse Repo	1.43%
Net Receivables	Net Receivables	1.05%
MF Units	MF Units	0.71%
Mindspace Business Parks REIT	InvITs	0.19%
Brookfield India Real Estate Trust	InvITs	0.13%
Indus Infra Trust	InvITs	0.12%