Kotak Focused 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 : Focused Fund

Portfolio Turnover Ratio : 20.26%. Category average turnover ratio is 78.50%. 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 : 96.57% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 96.57%

No of Stocks : 28 (Category Avg - 28.11) | Large Cap Investments : 53.25%| Mid Cap Investments : 6.7% | Small Cap Investments : 8.43% | Other : 28.19%

Portfolio Summary (as on 31st Oct,2025)

Particulars	This Scheme	Category
No. of Stocks	28	27.86
Top 5 Stock Weight	30.1%	31.5%
Top 10 Stock Weight	49.93%	52.05%
Top 3 Sector Weight	34.6%	33.2%

Category - Focused Fund

Particulars	This Scheme	Category
Average mcap (Cr)	115411.64	89960.89
Holdings in large cap stocks	53.25%	40.1%
Holdings in mid cap stocks	6.7%	12.31%
Holdings in small cap stocks	8.43%	10.53%

Category - Focused 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	1M Change in Qty
HDFC Bank Ltd.	Private sector bank	3091	7.99%	0.44%	7.99% (Oct 2025)	5.48% (Nov 2024)	31.31 L	1.95 L
ICICI Bank Ltd.	Private sector bank	2404.4	6.22%	-0.30%	7.72% (Apr 2025)	6.22% (Oct 2025)	17.87 L	0.00
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	2216.8	5.73%	0.25%	5.86% (Apr 2025)	4.93% (Nov 2024)	10.79 L	0.00
Eternal Ltd.	E-retail/ e-commerce	2190.9	5.66%	-0.41%	6.07% (Sep 2025)	3.9% (Mar 2025)	68.95 L	0.00
State Bank Of India	Public sector bank	1739.1	4.50%	0.12%	4.5% (Oct 2025)	3.86% (Jul 2025)	18.56 L	0.00
Shriram Finance Ltd.	Non banking financial company (nbfc)	1628.9	4.21%	0.59%	4.21% (Oct 2025)	2.58% (Dec 2024)	21.75 L	0.00
Bharat Electronics Ltd.	Aerospace & defense	1615.8	4.18%	0.04%	4.31% (Jun 2025)	2.98% (Feb 2025)	37.92 L	0.00
Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	1554.3	4.02%	-0.14%	4.16% (Sep 2025)	2.93% (Jun 2025)	96.03 k	0.00
Hero Motocorp Ltd.	2/3 wheelers	1444.2	3.73%	-0.13%	3.86% (Sep 2025)	2.9% (Apr 2025)	2.61 L	0.00
Tech Mahindra Ltd.	Computers - software & consulting	1428.7	3.69%	-0.11%	5.16% (Jan 2025)	3.69% (Oct 2025)	10.03 L	0.00

- 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
HDFC Bank Ltd.	Private sector bank	16.91	3091	7.99%	0.44%	7.99% (Oct 2025)	5.48% (Nov 2024)	31.31 L	1.95 L	Other	28.19
ICICI Bank Ltd.	Private sector bank	16.91	2404.4	6.22%	-0.30%	7.72% (Apr 2025)	6.22% (Oct 2025)	17.87 L	0.00	Large Cap	53.25
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	5.73	2216.8	5.73%	0.25%	5.86% (Apr 2025)	4.93% (Nov 2024)	10.79 L	0.00	Large Cap	53.25
Eternal Ltd.	E-retail/ e-commerce	8.46	2190.9	5.66%	-0.41%	6.07% (Sep 2025)	3.9% (Mar 2025)	68.95 L	0.00	Other	28.19
State Bank Of India	Public sector bank	4.5	1739.1	4.50%	0.12%	4.5% (Oct 2025)	3.86% (Jul 2025)	18.56 L	0.00	Large Cap	53.25
Shriram Finance Ltd.	Non banking financial company (nbfc)	4.21	1628.9	4.21%	0.59%	4.21% (Oct 2025)	2.58% (Dec 2024)	21.75 L	0.00	Other	28.19
Bharat Electronics Ltd.	Aerospace & defense	4.18	1615.8	4.18%	0.04%	4.31% (Jun 2025)	2.98% (Feb 2025)	37.92 L	0.00	Mid Cap	6.7
Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	4.02	1554.3	4.02%	-0.14%	4.16% (Sep 2025)	2.93% (Jun 2025)	96.03 k	0.00	Large Cap	53.25
Hero Motocorp Ltd.	2/3 wheelers	3.73	1444.2	3.73%	-0.13%	3.86% (Sep 2025)	2.9% (Apr 2025)	2.61 L	0.00	Large Cap	53.25
Tech Mahindra Ltd.	Computers - software & consulting	9.23	1428.7	3.69%	-0.11%	5.16% (Jan 2025)	3.69% (Oct 2025)	10.03 L	0.00	Large Cap	53.25
Reliance Industries Ltd.	Refineries & marketing	3.68	1425.2	3.68%	0.14%	4.17% (Apr 2025)	3.54% (Sep 2025)	9.59 L	0.00	Large Cap	53.25
Fortis Healthcare Ltd.	Hospital	3.53	1365.6	3.53%	0.03%	3.53% (Oct 2025)	2.55% (Jan 2025)	13.35 L	0.00	Other	28.19
Infosys Ltd.	Computers - software & consulting	9.23	1335.8	3.45%	-0.06%	5.4% (Jan 2025)	3.45% (Oct 2025)	9.01 L	0.00	Large Cap	53.25
National Thermal Power Corporation Ltd.	Power generation	3.11	1202.9	3.11%	-0.18%	3.69% (Apr 2025)	3.11% (Oct 2025)	35.70 L	0.00	Large Cap	53.25
GE T&D India Ltd.	Heavy electrical equipment	3.1	1198.1	3.10%	-0.06%	3.16% (Sep 2025)	0% (Nov 2024)	3.94 L	0.00	Small Cap	8.43
KEI Industries Ltd.	Cables - electricals	3.05	1178.6	3.05%	-0.02%	3.13% (Dec 2024)	2.12% (Mar 2025)	2.92 L	13.00 k	Small Cap	8.43
InterGlobe Aviation Ltd.	Airline	3.05	1178.4	3.05%	-0.12%	3.25% (Aug 2025)	0% (Nov 2024)	2.10 L	0.00	Large Cap	53.25
Ultratech Cement Ltd.	Cement & cement products	2.87	1111.1	2.87%	-0.20%	3.23% (Aug 2025)	2.87% (Oct 2025)	93.00 k	0.00	Large Cap	53.25
FSN E-Commerce Ventures Ltd.	E-retail/ e-commerce	8.46	1082.3	2.80%	-0.13%	2.95% (Aug 2025)	2.2% (Dec 2024)	43.65 L	-2.90 L	Other	28.19
Axis Bank Ltd.	Private sector bank	16.91	1043	2.70%	0.11%	3.39% (Mar 2025)	2.43% (Aug 2025)	8.46 L	0.00	Large Cap	53.25
SRF Ltd.	Specialty chemicals	2.52	976.1	2.52%	-0.02%	2.77% (Jul 2025)	1.5% (Nov 2024)	3.33 L	0.00	Mid Cap	6.7
Larsen & Toubro Ltd.	Civil construction	2.5	966.6	2.50%	0.13%	2.76% (Nov 2024)	2.33% (Apr 2025)	2.40 L	0.00	Large Cap	53.25
Blue Star Ltd.	Household appliances	2.28	880.2	2.28%	-0.03%	2.78% (Dec 2024)	1.85% (May 2025)	4.54 L	0.00	Small Cap	8.43
Persistent Systems Ltd.	Computers - software & consulting	9.23	807.6	2.09%	0.31%	2.09% (Oct 2025)	0% (Nov 2024)	1.37 L	0.00	Other	28.19
Godrej Consumer Products Ltd	Personal care	2.01	776.1	2.01%	-0.18%	2.55% (Apr 2025)	2.01% (Oct 2025)	6.94 L	0.00	Large Cap	53.25
Divis Laboratories Ltd.	Pharmaceuticals	1.99	771.5	1.99%	0.23%	2.1% (Jun 2025)	0% (Nov 2024)	1.15 L	0.00	Large Cap	53.25
Edelweiss Securities Pvt. Ltd.	Stockbroking & allied	1.52	586.6	1.52%	-0.52%	2.66% (Jun 2025)	0% (Nov 2024)	82.71 k	-0.37 L	Other	28.19
# Lenskart Solutions Ltd.	Speciality retail	0.39	150	0.39%	0.39%	0.39% (Oct 2025)	0% (Nov 2024)	3.73 L	3.73 L	Other	28.19
GAIL (India) Ltd.	Gas transmission/marketing		491.9	0.00%	-1.33%	-	-	-	-	Large Cap	53.25

- 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
# Lenskart Solutions Ltd.	Speciality retail	150	0.39%	0.39%	0.39% (Oct 2025)	0% (Nov 2024)	3.73 L	373108

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
GAIL (India) Ltd.	Gas transmission/marketing	491.9	0.00%	-1.33%	3.07% (Dec 2024)	0% (Nov 2024)	0.00	-2790000

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
ICICI Bank Ltd.	6.22%	6.52%	6.87%	7.24%	6.97%	7.59%	7.72%	7.39%	7.02%	6.84%	6.75%	6.68%	6.74%
HDFC Bank Ltd.	7.99%	7.55%	7.33%	7.73%	7.57%	7.71%	7.86%	7.24%	7.10%	5.51%	5.55%	5.48%	5.37%
Eternal Ltd.	5.66%	6.07%	5.82%	5.67%	4.81%	4.55%	8.74%	7.80%	-	-	-	-	-
Zomato Ltd.	-	-	-	-	-	-	-	-	4.21%	3.91%	4.77%	4.67%	4.10%
Bharti Airtel Ltd.	5.73%	5.48%	5.60%	5.65%	5.85%	5.66%	5.86%	5.61%	5.40%	5.24%	4.94%	4.93%	4.96%
Tech Mahindra Ltd.	3.69%	3.80%	4.20%	4.13%	4.70%	4.59%	4.52%	4.39%	4.90%	5.16%	5.08%	4.97%	4.74%
Infosys Ltd.	3.45%	3.51%	3.64%	3.72%	3.89%	3.98%	3.94%	4.24%	5.17%	5.40%	5.08%	4.89%	4.69%
State Bank Of India	4.50%	4.38%	3.91%	3.86%	3.92%	4.22%	4.22%	4.25%	4.04%	4.24%	4.21%	4.33%	3.84%
Reliance Industries Ltd.	3.68%	3.54%	3.58%	3.64%	3.88%	4.09%	4.17%	3.89%	3.90%	3.85%	3.57%	3.70%	3.87%
Sun Pharmaceutical Industries Ltd.	-	-	-	1.89%	1.83%	1.92%	4.34%	4.64%	4.54%	4.65%	4.86%	4.47%	4.71%
Bharat Electronics Ltd.	4.18%	4.14%	3.85%	3.97%	4.31%	4.12%	3.47%	3.43%	2.98%	3.62%	3.50%	3.59%	3.37%
Shriram Finance Ltd.	4.21%	3.62%	3.27%	3.53%	3.91%	3.58%	3.53%	3.89%	3.90%	2.96%	2.58%	3.66%	3.86%
Maruti Suzuki India Ltd.	4.02%	4.16%	3.56%	3.02%	2.93%	3.05%	3.84%	3.71%	4.09%	3.81%	3.25%	3.22%	3.27%
National Thermal Power Corporation Ltd.	3.11%	3.29%	3.22%	3.26%	3.23%	3.37%	3.69%	3.68%	3.41%	3.32%	3.30%	3.51%	4.00%
Hero Motocorp Ltd.	3.73%	3.86%	3.64%	3.03%	2.98%	3.17%	2.90%	2.91%	3.06%	3.38%	3.13%	3.49%	3.71%