Kotak Nifty Alpha 50 ETF

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 : 181.58%. Category average turnover ratio is 37.91%. Fund manager updated portfolio more frequently than peers in last 1 year. (I.e. fund manager held stocks/bonds in the portfolio for shorter duration than peers)

Equity Holding : 99.99% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 99.99%

No of Stocks : 50 (Category Avg - 54.64) | Large Cap Investments : 13.05%| Mid Cap Investments : 20.15% | Small Cap Investments : 32.67% | Other : 34.12%

Portfolio Summary (as on 30th Nov,2025)

Particulars	This Scheme	Category
No. of Stocks	50	75.96
Top 5 Stock Weight	25.05%	37.5%
Top 10 Stock Weight	40.27%	54.7%
Top 3 Sector Weight	27.83%	34.87%

Category - Index Funds/ETFs

Particulars	This Scheme	Category
Average mcap (Cr)	15575.09	113940.38
Holdings in large cap stocks	13.05%	50.99%
Holdings in mid cap stocks	20.15%	15.59%
Holdings in small cap stocks	32.67%	8.57%

Category - Index Funds/ETFs

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	1M Change in Qty
BSE Ltd.	Exchange and data platform	590.3	7.89%	0.99%	7.89% (Nov 2025)	1.92% (Dec 2024)	2.03 L	-2.98 k
One 97 Communications Ltd.	Financial technology (fintech)	398.9	5.33%	-0.06%	6.92% (Aug 2025)	0% (Dec 2024)	3.02 L	-4.38 k
Laurus Labs Ltd.	Pharmaceuticals	356.4	4.76%	0.25%	4.76% (Nov 2025)	0% (Dec 2024)	3.46 L	-5.01 k
Hitachi Energy India Ltd.	Heavy electrical equipment	269.6	3.60%	0.63%	5.46% (May 2025)	0% (Dec 2024)	12.22 k	-0.17 k
Multi Commodity Exchange Of India Ltd.	Exchange and data platform	259.4	3.47%	0.21%	3.47% (Nov 2025)	1.75% (Dec 2024)	25.75 k	-0.35 k
Fortis Healthcare Ltd.	Hospital	238.8	3.19%	-0.45%	3.64% (Oct 2025)	0% (Dec 2024)	2.60 L	-3.76 k
GE T&D India Ltd.	Heavy electrical equipment	236.8	3.17%	-0.25%	3.48% (Sep 2025)	0% (Dec 2024)	82.20 k	-1.20 k
Godfrey Phillips India Ltd.	Cigarettes & tobacco products	229.4	3.07%	-0.29%	3.86% (Sep 2025)	0% (Dec 2024)	79.83 k	-1.14 k
Amber Enterprises India Ltd.	Household appliances	222.4	2.97%	-0.43%	3.58% (Sep 2025)	0% (Dec 2024)	30.97 k	-0.42 k
Max Financial Services Ltd.	Life insurance	211.2	2.82%	0.19%	2.82% (Nov 2025)	0% (Dec 2024)	1.24 L	-1.81 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

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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
BSE Ltd.	Exchange and data platform	11.36	590.3	7.89%	0.99%	7.89% (Nov 2025)	1.92% (Dec 2024)	2.03 L	-2.98 k	Small Cap	32.67
One 97 Communications Ltd.	Financial technology (fintech)	6.04	398.9	5.33%	-0.06%	6.92% (Aug 2025)	0% (Dec 2024)	3.02 L	-4.38 k	Other	34.12
Laurus Labs Ltd.	Pharmaceuticals	8.82	356.4	4.76%	0.25%	4.76% (Nov 2025)	0% (Dec 2024)	3.46 L	-5.01 k	Other	34.12
Hitachi Energy India Ltd.	Heavy electrical equipment	6.77	269.6	3.60%	0.63%	5.46% (May 2025)	0% (Dec 2024)	12.22 k	-0.17 k	Other	34.12
Multi Commodity Exchange Of India Ltd.	Exchange and data platform	11.36	259.4	3.47%	0.21%	3.47% (Nov 2025)	1.75% (Dec 2024)	25.75 k	-0.35 k	Small Cap	32.67
Fortis Healthcare Ltd.	Hospital	7.65	238.8	3.19%	-0.45%	3.64% (Oct 2025)	0% (Dec 2024)	2.60 L	-3.76 k	Other	34.12
GE T&D India Ltd.	Heavy electrical equipment	6.77	236.8	3.17%	-0.25%	3.48% (Sep 2025)	0% (Dec 2024)	82.20 k	-1.20 k	Small Cap	32.67
Godfrey Phillips India Ltd.	Cigarettes & tobacco products	3.07	229.4	3.07%	-0.29%	3.86% (Sep 2025)	0% (Dec 2024)	79.83 k	-1.14 k	Small Cap	32.67
Amber Enterprises India Ltd.	Household appliances	2.97	222.4	2.97%	-0.43%	3.58% (Sep 2025)	0% (Dec 2024)	30.97 k	-0.42 k	Small Cap	32.67
Max Financial Services Ltd.	Life insurance	5.64	211.2	2.82%	0.19%	2.82% (Nov 2025)	0% (Dec 2024)	1.24 L	-1.81 k	Mid Cap	20.15
Coforge Ltd.	Computers - software & consulting	3.3	199.6	2.67%	0.12%	2.69% (Jun 2025)	0% (Dec 2024)	1.05 L	-1.56 k	Other	34.12
L&T Finance Holdings Ltd.	Investment company	2.6	194.7	2.60%	0.29%	2.6% (Nov 2025)	0% (Dec 2024)	6.23 L	-9.03 k	Mid Cap	20.15
Reliance Power Ltd.	Power generation	2.5	186.9	2.50%	-0.47%	4.62% (Jun 2025)	0% (Dec 2024)	46.78 L	-0.68 L	Small Cap	32.67
Aditya Birla Capital Ltd.	Life insurance	5.64	180.9	2.42%	0.18%	2.42% (Nov 2025)	0% (Dec 2024)	5.05 L	-7.31 k	Mid Cap	20.15
Muthoot Finance Pvt. Ltd.	Non banking financial company (nbfc)	5.32	174.3	2.33%	0.31%	2.92% (Mar 2025)	0% (Dec 2024)	46.56 k	-0.65 k	Mid Cap	20.15
Narayana Hrudayalaya Ltd.	Hospital	7.65	174.3	2.33%	0.17%	2.33% (Nov 2025)	0% (Dec 2024)	89.60 k	-1.33 k	Small Cap	32.67
Max Healthcare Institute Ltd.	Hospital	7.65	159.1	2.13%	-0.02%	2.18% (Sep 2025)	0% (Dec 2024)	1.37 L	-1.96 k	Other	34.12
Wockhardt Ltd.	Pharmaceuticals	8.82	151	2.02%	-0.12%	2.65% (Sep 2025)	0% (Dec 2024)	1.22 L	-1.78 k	Small Cap	32.67
Coromandel International Ltd.	Fertilizers	2	149.3	2.00%	0.18%	3.25% (Jul 2025)	0% (Dec 2024)	62.69 k	-0.95 k	Mid Cap	20.15
Motilal Oswal Financial Services Ltd.	Stockbroking & allied	1.79	133.6	1.79%	-0.07%	3.66% (Dec 2024)	1.41% (Jun 2025)	1.39 L	-2.03 k	Small Cap	32.67
Bharat Electronics Ltd.	Aerospace & defense	2.59	126.4	1.69%	-0.10%	2.1% (Jan 2025)	0.77% (Jul 2025)	3.07 L	-4.48 k	Mid Cap	20.15
Solar Industries India Ltd.	Explosives	1.66	123.9	1.66%	-0.12%	2.66% (Jun 2025)	0% (Dec 2024)	9.34 k	-0.19 k	Small Cap	32.67
Eternal Ltd.	E-retail/ e-commerce	1.62	121.1	1.62%	-0.14%	3.19% (Feb 2025)	1.13% (Jun 2025)	4.04 L	-5.88 k	Other	34.12
HDFC Asset Management Co. Ltd.	Asset management company	1.61	120.8	1.61%	-0.05%	1.79% (Sep 2025)	0% (Dec 2024)	45.19 k	22.28 k	Large Cap	13.05
Eicher Motors Ltd.	2/3 wheelers	2.97	119.8	1.60%	-0.03%	1.7% (Sep 2025)	0% (Dec 2024)	16.99 k	-0.27 k	Other	34.12
Bajaj Holdings & Investment Ltd.	Holding company	1.58	118.3	1.58%	-0.16%	2.67% (Jul 2025)	0% (Dec 2024)	10.28 k	-0.18 k	Large Cap	13.05
Dixon Technologies (India) Ltd.	Consumer electronics	2.35	117	1.56%	-0.14%	5.24% (Apr 2025)	1.56% (Nov 2025)	8.01 k	-0.13 k	Other	34.12
Mazagon Dock Shipbuilders Ltd.	Ship building & allied services	1.56	116.6	1.56%	-0.07%	5.31% (May 2025)	1.56% (Nov 2025)	43.51 k	-0.62 k	Other	34.12
Bajaj Finance Ltd.	Non banking financial company (nbfc)	5.32	115.8	1.55%	-0.04%	1.59% (Mar 2025)	0% (Dec 2024)	1.12 L	-1.60 k	Other	34.12
Kaynes Technology India Private Ltd.	Industrial products	1.52	114	1.52%	-0.38%	2.94% (Aug 2025)	1.52% (Nov 2025)	20.76 k	-0.26 k	Other	34.12
UPL Ltd.	Pesticides & agrochemicals	1.48	111	1.48%	0.04%	1.74% (Apr 2025)	0% (Dec 2024)	1.46 L	-2.11 k	Large Cap	13.05
Manappuram Finance Ltd.	Non banking financial company (nbfc)	5.32	108	1.44%	0.04%	1.52% (Sep 2025)	0% (Dec 2024)	3.79 L	-5.47 k	Mid Cap	20.15
Bosch Ltd.	Auto components & equipments	1.42	106.6	1.42%	-0.09%	1.62% (Sep 2025)	0% (Dec 2024)	2.95 k	-45.00	Large Cap	13.05
Indian Hotels Company Limited	Hotels & resorts	1.42	106.1	1.42%	-0.03%	1.47% (Sep 2025)	0% (Dec 2024)	1.43 L	-2.05 k	Mid Cap	20.15
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	1.4	105	1.40%	-0.01%	2.02% (Apr 2025)	0% (Dec 2024)	49.95 k	-0.74 k	Large Cap	13.05
RBL Bank Ltd.	Private sector bank	1.38	103.2	1.38%	-0.10%	1.48% (Oct 2025)	0% (Dec 2024)	3.30 L	-4.78 k	Mid Cap	20.15
TVS Motor Company Ltd.	2/3 wheelers	2.97	102.7	1.37%	-0.03%	1.43% (Sep 2025)	0% (Dec 2024)	29.07 k	-0.45 k	Mid Cap	20.15
Divis Laboratories Ltd.	Pharmaceuticals	8.82	101.8	1.36%	-0.09%	2.59% (May 2025)	0% (Dec 2024)	15.71 k	-0.25 k	Large Cap	13.05
Redington Ltd.	Trading & distributors	1.36	101.4	1.36%	0.11%	1.46% (Sep 2025)	0% (Dec 2024)	3.61 L	-5.23 k	Small Cap	32.67
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	2.56	98.7	1.32%	0.07%	1.84% (Apr 2025)	0% (Dec 2024)	26.27 k	-0.36 k	Large Cap	13.05
InterGlobe Aviation Ltd.	Airline	1.24	92.7	1.24%	0.03%	2.07% (Mar 2025)	0% (Dec 2024)	15.70 k	-0.25 k	Large Cap	13.05
Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	2.56	92.4	1.24%	-0.04%	1.33% (Sep 2025)	0% (Dec 2024)	5.81 k	-42.00	Large Cap	13.05
Bharat Dynamics Ltd.	Aerospace & defense	2.59	67.5	0.90%	-0.03%	2.45% (Jan 2025)	0.47% (Mar 2025)	44.60 k	-0.63 k	Other	34.12
PG Electroplast Ltd.	Consumer electronics	2.35	58.8	0.79%	0.01%	9.26% (Mar 2025)	0% (Dec 2024)	99.46 k	-1.43 k	Other	34.12
- Glenmark Pharmaceuticals Ltd.	Pharmaceuticals	8.82	51.2	0.68%	0.00%	2.29% (Feb 2025)	0.68% (Oct 2025)	26.31 k	-0.33 k	Mid Cap	20.15
Persistent Systems Ltd.	Computers - software & consulting	3.3	46.9	0.63%	0.03%	2.31% (Jun 2025)	0% (Dec 2024)	7.38 k	-0.14 k	Other	34.12
- Central Depository Services (India) Ltd.	Depositories, clearing houses and other intermediaries	0.44	33.1	0.44%	0.00%	1.65% (Jun 2025)	0.43% (Sep 2025)	20.44 k	-0.28 k	Small Cap	32.67
- PB Fintech Ltd.	Financial technology (fintech)	6.04	32.6	0.44%	0.00%	2.86% (Dec 2024)	0.44% (Nov 2025)	17.94 k	-0.28 k	Other	34.12
HDFC Life Insurance Company Ltd.	Life insurance	5.64	29.6	0.40%	0.01%	1.67% (Aug 2025)	0% (Dec 2024)	38.71 k	-0.53 k	Large Cap	13.05
KFIN Technologies Ltd.	Financial technology (fintech)	6.04	20.3	0.27%	-0.02%	2.28% (Dec 2024)	0.27% (Nov 2025)	19.22 k	-0.24 k	Other	34.12
TREPS	Other		1	0.00%	-0.01%	-	-	-	-	Large Cap	13.05

- 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
TREPS	Other	1	0.00%	-0.01%	0% (Dec 2025)	0% (Dec 2025)	0.00	0

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
Hitachi Energy India Ltd.	3.60%	5.94%	6.28%	-	-	-	-	-	-	-	-	-	-
ABB Power Products and Systems India Ltd.	-	-	-	2.97%	2.93%	2.83%	5.46%	4.41%	3.98%	-	-	-	2.33%
One 97 Communications Ltd.	5.33%	5.39%	4.85%	6.92%	5.87%	4.82%	3.48%	3.63%	3.41%	-	-	-	-
BSE Ltd.	7.89%	6.90%	5.93%	4.74%	5.15%	5.70%	6.24%	5.31%	4.74%	2.22%	2.15%	1.92%	3.38%
PG Electroplast Ltd.	0.79%	0.78%	0.71%	4.31%	6.16%	5.55%	7.01%	8.23%	9.26%	-	-	-	-
Godfrey Phillips India Ltd.	3.07%	3.36%	3.86%	-	-	-	-	-	-	-	-	-	-
Firstsource Solutions Ltd.	-	-	-	3.50%	3.20%	3.40%	3.15%	3.10%	3.21%	-	-	-	-
Laurus Labs Ltd.	4.76%	4.51%	4.16%	2.24%	2.15%	1.72%	-	-	-	-	-	-	-
Mazagon Dock Shipbuilders Ltd.	1.56%	1.63%	1.72%	3.43%	3.43%	3.89%	5.31%	5.01%	4.49%	2.76%	2.74%	2.17%	-
Cochin Shipyard Ltd.	-	-	-	-	-	-	2.78%	2.43%	2.23%	3.53%	3.61%	3.24%	3.62%
Oil India Ltd.	-	-	-	-	-	-	-	-	-	2.84%	2.95%	2.70%	3.39%
Housing & Urban Development Corporation Ltd.	-	-	-	-	-	-	-	-	-	2.72%	3.20%	2.92%	3.02%
Dixon Technologies (India) Ltd.	1.56%	1.70%	1.87%	2.45%	2.32%	2.00%	4.36%	5.24%	4.35%	3.47%	3.16%	3.34%	2.66%
Reliance Power Ltd.	2.50%	2.97%	2.97%	3.17%	3.58%	4.62%	2.63%	1.94%	2.17%	-	-	-	-
Amber Enterprises India Ltd.	2.97%	3.40%	3.58%	3.32%	3.42%	2.81%	2.10%	2.13%	2.59%	-	-	-	-