Kotak Energy Opportunities 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.

Portfolio Turnover Ratio : 1.78%. Category average turnover ratio is 124.84%. 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 : 91.93% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 91.93%

No of Stocks : 36 (Category Avg - 44.17) | Large Cap Investments : 54.52%| Mid Cap Investments : 15.27% | Small Cap Investments : 14.32% | Other : 7.82%

Portfolio Summary (as on 31st Oct,2025)

Particulars	This Scheme	Category
No. of Stocks	36	43.41
Top 5 Stock Weight	32.23%	32.46%
Top 10 Stock Weight	50.77%	49.59%
Top 3 Sector Weight	44.19%	43.5%

Category - Sectoral/Thematic

Particulars	This Scheme	Category
Average mcap (Cr)	113933.60	72450.77
Holdings in large cap stocks	54.52%	37.14%
Holdings in mid cap stocks	15.27%	14.47%
Holdings in small cap stocks	14.32%	13.1%

Category - Sectoral/Thematic

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
Reliance Industries Ltd.	Refineries & marketing	208.1	8.60%	0.56%	8.8% (Aug 2025)	0% (Nov 2024)	1.40 L	5.00 k
National Thermal Power Corporation Ltd.	Power generation	187	7.73%	-0.52%	8.32% (Jul 2025)	0% (Nov 2024)	5.55 L	0.00
GAIL (India) Ltd.	Gas transmission/marketing	137.1	5.67%	-0.10%	7.27% (Jun 2025)	0% (Nov 2024)	7.50 L	0.00
Power Grid Corporation of India Ltd.	Power - transmission	129.7	5.36%	-0.15%	6.86% (Jun 2025)	0% (Nov 2024)	4.50 L	0.00
Bharat Petroleum Corporation Ltd.	Refineries & marketing	117.7	4.87%	0.42%	4.87% (Oct 2025)	0% (Nov 2024)	3.30 L	30.00 k
ABB India Ltd.	Heavy electrical equipment	94	3.89%	-0.18%	5.83% (May 2025)	0% (Nov 2024)	18.00 k	0.00
Siemens Ltd.	Heavy electrical equipment	92.9	3.84%	-0.26%	5.31% (May 2025)	0% (Nov 2024)	30.00 k	0.00
GE T&D India Ltd.	Heavy electrical equipment	91.1	3.77%	0.28%	3.77% (Oct 2025)	0% (Nov 2024)	30.00 k	3.00 k
Hindustan Petroleum Corporation Ltd.	Refineries & marketing	85.7	3.54%	0.05%	3.54% (Oct 2025)	0% (Nov 2024)	1.80 L	0.00
Larsen & Toubro Ltd.	Civil construction	84.7	3.50%	0.62%	3.5% (Oct 2025)	0% (Nov 2024)	21.00 k	3.00 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	1M Change in Qty	M-Cap	GroupName
Reliance Industries Ltd.	Refineries & marketing	19.32	208.1	8.60%	0.56%	8.8% (Aug 2025)	0% (Nov 2024)	1.40 L	5.00 k	Large Cap	54.52
National Thermal Power Corporation Ltd.	Power generation	10.81	187	7.73%	-0.52%	8.32% (Jul 2025)	0% (Nov 2024)	5.55 L	0.00	Large Cap	54.52
GAIL (India) Ltd.	Gas transmission/marketing	5.93	137.1	5.67%	-0.10%	7.27% (Jun 2025)	0% (Nov 2024)	7.50 L	0.00	Large Cap	54.52
Power Grid Corporation of India Ltd.	Power - transmission	5.36	129.7	5.36%	-0.15%	6.86% (Jun 2025)	0% (Nov 2024)	4.50 L	0.00	Large Cap	54.52
Bharat Petroleum Corporation Ltd.	Refineries & marketing	19.32	117.7	4.87%	0.42%	4.87% (Oct 2025)	0% (Nov 2024)	3.30 L	30.00 k	Large Cap	54.52
ABB India Ltd.	Heavy electrical equipment	14.06	94	3.89%	-0.18%	5.83% (May 2025)	0% (Nov 2024)	18.00 k	0.00	Large Cap	54.52
Siemens Ltd.	Heavy electrical equipment	14.06	92.9	3.84%	-0.26%	5.31% (May 2025)	0% (Nov 2024)	30.00 k	0.00	Large Cap	54.52
GE T&D India Ltd.	Heavy electrical equipment	14.06	91.1	3.77%	0.28%	3.77% (Oct 2025)	0% (Nov 2024)	30.00 k	3.00 k	Small Cap	14.32
Hindustan Petroleum Corporation Ltd.	Refineries & marketing	19.32	85.7	3.54%	0.05%	3.54% (Oct 2025)	0% (Nov 2024)	1.80 L	0.00	Large Cap	54.52
Larsen & Toubro Ltd.	Civil construction	5.21	84.7	3.50%	0.62%	3.5% (Oct 2025)	0% (Nov 2024)	21.00 k	3.00 k	Large Cap	54.52
Tata Power Co. Ltd.	Integrated power utilities	6.65	72.9	3.01%	-0.04%	3.57% (Jul 2025)	0% (Nov 2024)	1.80 L	0.00	Mid Cap	15.27
Vikram Solar Ltd.	Other electrical equipment	4.64	60.8	2.51%	-0.06%	3.03% (Aug 2025)	0% (Nov 2024)	1.86 L	0.00	Other	7.82
Cummins India Ltd.	Compressors, pumps & diesel engines	2.31	52.1	2.16%	0.10%	2.21% (Aug 2025)	0% (Nov 2024)	12.00 k	0.00	Mid Cap	15.27
Waaree Energies Ltd.	Other electrical equipment	4.64	51.4	2.13%	-0.05%	2.45% (Aug 2025)	0% (Nov 2024)	15.00 k	0.00	Other	7.82
Oil & Natural Gas Corporation Ltd.	Oil exploration & production	2.11	51.1	2.11%	0.02%	2.6% (May 2025)	0% (Nov 2024)	2.00 L	0.00	Large Cap	54.52
NHPC Ltd.	Power generation	10.81	50.9	2.10%	0.40%	2.1% (Oct 2025)	0% (Nov 2024)	6.00 L	1.50 L	Mid Cap	15.27
Petronet LNG Ltd.	Lpg/cng/png/lng supplier	2.09	50.6	2.09%	-0.10%	3% (May 2025)	0% (Nov 2024)	1.80 L	0.00	Large Cap	54.52
Power Finance Corporation Ltd.	Financial institution	2.08	50.4	2.08%	-0.16%	2.72% (Jun 2025)	0% (Nov 2024)	1.25 L	0.00	Mid Cap	15.27
Cesc Ltd.	Integrated power utilities	6.65	48.6	2.01%	0.74%	2.01% (Oct 2025)	0% (Nov 2024)	2.70 L	90.00 k	Other	7.82
KEI Industries Ltd.	Cables - electricals	2	48.4	2.00%	-0.13%	2.3% (Jul 2025)	0% (Nov 2024)	12.00 k	0.00	Small Cap	14.32
Linde India Ltd.	Industrial gases	1.98	47.9	1.98%	-0.19%	2.54% (Jun 2025)	0% (Nov 2024)	7.97 k	0.00	Small Cap	14.32
Kalpataru Power Transmission Ltd.	Civil construction	5.21	41.5	1.71%	0.07%	1.87% (Jun 2025)	0% (Nov 2024)	33.00 k	3.00 k	Small Cap	14.32
Torrent Power Ltd.	Integrated power utilities	6.65	39.5	1.63%	0.03%	1.96% (Jul 2025)	0% (Nov 2024)	30.00 k	0.00	Mid Cap	15.27
Coal India Ltd.	Coal	1.61	38.9	1.61%	-0.09%	2.15% (May 2025)	0% (Nov 2024)	1.00 L	0.00	Large Cap	54.52
Gulf Oil Lubircants India Ltd.	Lubricants	1.53	37.1	1.53%	-0.06%	1.59% (Sep 2025)	0% (Nov 2024)	30.00 k	0.00	Small Cap	14.32
Exide Industries Ltd.	Auto components & equipments	1.42	34.4	1.42%	-0.12%	1.54% (Sep 2025)	0% (Nov 2024)	90.00 k	0.00	Mid Cap	15.27
Thermax Ltd.	Heavy electrical equipment	14.06	32.2	1.33%	0.08%	2.02% (May 2025)	0% (Nov 2024)	10.00 k	1.00 k	Mid Cap	15.27
Mangalore Refinery & Petrochemicals Ltd.	Refineries & marketing	19.32	30.9	1.28%	0.24%	1.28% (Oct 2025)	0% (Nov 2024)	1.85 L	5.44 k	Mid Cap	15.27
Suzlon Energy Ltd.	Heavy electrical equipment	14.06	29.7	1.23%	0.03%	1.72% (Jun 2025)	0% (Nov 2024)	5.00 L	0.00	Small Cap	14.32
V-Guard Industries Ltd.	Household appliances	1.12	27.2	1.12%	-0.11%	1.48% (Jun 2025)	0% (Nov 2024)	75.00 k	0.00	Small Cap	14.32
# Indian Oil Corporation Ltd.	Refineries & marketing	19.32	24.9	1.03%	1.03%	1.03% (Oct 2025)	0% (Nov 2024)	1.50 L	1.50 L	Large Cap	54.52
Acme Solar Holdings Ltd.	Holding company	1.02	24.7	1.02%	-0.04%	1.21% (Jul 2025)	0% (Nov 2024)	87.62 k	0.00	Other	7.82
NLC India Ltd.	Power generation	10.81	23.6	0.98%	-0.14%	1.12% (Sep 2025)	0% (Nov 2024)	90.00 k	0.00	Small Cap	14.32
Havells India Ltd.	Consumer electronics	0.68	16.4	0.68%	-0.04%	0.91% (May 2025)	0% (Nov 2024)	11.00 k	0.00	Large Cap	54.52
Gujarat State Petronet Ltd.	Gas transmission/marketing	5.93	6.2	0.26%	-0.01%	0.36% (May 2025)	0% (Nov 2024)	20.00 k	0.00	Mid Cap	15.27
Oswal Pumps Ltd.	Compressors, pumps & diesel engines	2.31	3.6	0.15%	-0.01%	0.19% (Jul 2025)	0% (Nov 2024)	5.00 k	0.00	Other	7.82

- 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
# Indian Oil Corporation Ltd.	Refineries & marketing	24.9	1.03%	1.03%	1.03% (Oct 2025)	0% (Nov 2024)	1.50 L	150000

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
Reliance Industries Ltd.	8.60%	8.04%	8.80%	7.62%	8.39%	8.48%	-	-	-	-	-	-	-
National Thermal Power Corporation Ltd.	7.73%	8.25%	7.87%	8.32%	7.66%	8.15%	-	-	-	-	-	-	-
GAIL (India) Ltd.	5.67%	5.77%	6.24%	6.64%	7.27%	6.86%	-	-	-	-	-	-	-
Power Grid Corporation of India Ltd.	5.36%	5.51%	5.95%	6.52%	6.86%	6.29%	-	-	-	-	-	-	-
ABB India Ltd.	3.89%	4.07%	4.32%	4.94%	5.56%	5.83%	-	-	-	-	-	-	-
Siemens Ltd.	3.84%	4.10%	4.42%	4.53%	4.96%	5.31%	-	-	-	-	-	-	-
Bharat Petroleum Corporation Ltd.	4.87%	4.45%	3.55%	2.95%	3.04%	3.11%	-	-	-	-	-	-	-
GE T&D India Ltd.	3.77%	3.49%	3.60%	3.67%	3.24%	3.28%	-	-	-	-	-	-	-
Hindustan Petroleum Corporation Ltd.	3.54%	3.49%	3.25%	3.13%	3.34%	2.68%	-	-	-	-	-	-	-
Tata Power Co. Ltd.	3.01%	3.05%	3.24%	3.57%	3.09%	3.20%	-	-	-	-	-	-	-
Larsen & Toubro Ltd.	3.50%	2.88%	3.11%	2.72%	2.80%	2.39%	-	-	-	-	-	-	-
Vikram Solar Ltd.	2.51%	2.57%	3.03%	-	-	-	-	-	-	-	-	-	-
Petronet LNG Ltd.	2.09%	2.19%	2.33%	2.58%	2.76%	3.00%	-	-	-	-	-	-	-
Power Finance Corporation Ltd.	2.08%	2.24%	2.28%	2.55%	2.72%	2.42%	-	-	-	-	-	-	-
Oil & Natural Gas Corporation Ltd.	2.11%	2.09%	2.25%	2.40%	2.48%	2.60%	-	-	-	-	-	-	-