Kotak Small Cap 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 : Small Cap Fund

Equity Holding : 98.95% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 98.95%

No of Stocks : 78 (Category Avg - 88.25) | Large Cap Investments : 5.16%| Mid Cap Investments : 4.03% | Small Cap Investments : 47.01% | Other : 42.75%

Portfolio Summary (as on 30th Nov,2025)

Particulars	This Scheme	Category
No. of Stocks	78	88.12
Top 5 Stock Weight	16.28%	14.95%
Top 10 Stock Weight	27.52%	25.76%
Top 3 Sector Weight	21.27%	20.31%

Category - Small Cap Fund

Particulars	This Scheme	Category
Average mcap (Cr)	9997.92	10068.26
Holdings in large cap stocks	5.16%	3.02%
Holdings in mid cap stocks	4.03%	9.66%
Holdings in small cap stocks	47.01%	43.98%

Category - Small Cap Fund

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
# Aster DM Healthcare Ltd.	Hospital	7823.9	4.49%	0.00%	4.42% (Oct 2025)	2.63% (Nov 2024)	1.18 Cr	0.00
# Krishna Institute of Medical Sciences Ltd.	Hospital	5791.9	3.32%	0.00%	3.55% (Jul 2025)	2.69% (Nov 2024)	84.54 L	0.00
# Vijaya Diagnostic Centre Ltd.	Healthcare service provider	5507.6	3.16%	0.00%	3.15% (Mar 2025)	2.61% (Jun 2025)	55.18 L	95.89 k
# Century Plyboards India Ltd.	Plywood boards/ laminates	4666.2	2.68%	0.00%	3.3% (Feb 2025)	2.62% (Nov 2024)	58.27 L	-8.00 L
# Sansera Engineering Ltd.	Auto components & equipments	4574.8	2.63%	0.00%	2.32% (Nov 2024)	1.85% (Apr 2025)	26.16 L	0.00
# Techno Electric & Engineering Co. Ltd.	Civil construction	4390.1	2.52%	0.00%	3.28% (Jun 2025)	2.35% (Jan 2025)	36.42 L	0.00
# Kalpataru Power Transmission Ltd.	Civil construction	4285.5	2.46%	0.00%	2.49% (Oct 2025)	1.6% (Nov 2024)	35.72 L	0.00
# Cyient Ltd.	It enabled services	3720.5	2.14%	0.00%	3.32% (Nov 2024)	2.14% (Oct 2025)	33.11 L	0.00
# Brigade Enterprises Ltd.	Residential, commercial projects	3680.9	2.11%	0.00%	2.68% (Feb 2025)	1.71% (Nov 2024)	41.12 L	0.00
# Vishal Mega Mart Ltd.	Diversified retail	3504.3	2.01%	0.00%	2.25% (Aug 2025)	0% (Nov 2024)	2.58 Cr	0.00

- 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
# Aster DM Healthcare Ltd.	Hospital	8.01	7823.9	4.49%	0.00%	4.42% (Oct 2025)	2.63% (Nov 2024)	1.18 Cr	0.00	Small Cap	47.01
# Krishna Institute of Medical Sciences Ltd.	Hospital	8.01	5791.9	3.32%	0.00%	3.55% (Jul 2025)	2.69% (Nov 2024)	84.54 L	0.00	Other	42.75
# Vijaya Diagnostic Centre Ltd.	Healthcare service provider	5.66	5507.6	3.16%	0.00%	3.15% (Mar 2025)	2.61% (Jun 2025)	55.18 L	95.89 k	Other	42.75
# Century Plyboards India Ltd.	Plywood boards/ laminates	2.68	4666.2	2.68%	0.00%	3.3% (Feb 2025)	2.62% (Nov 2024)	58.27 L	-8.00 L	Small Cap	47.01
# Sansera Engineering Ltd.	Auto components & equipments	6.85	4574.8	2.63%	0.00%	2.32% (Nov 2024)	1.85% (Apr 2025)	26.16 L	0.00	Other	42.75
# Techno Electric & Engineering Co. Ltd.	Civil construction	5.82	4390.1	2.52%	0.00%	3.28% (Jun 2025)	2.35% (Jan 2025)	36.42 L	0.00	Small Cap	47.01
# Kalpataru Power Transmission Ltd.	Civil construction	5.82	4285.5	2.46%	0.00%	2.49% (Oct 2025)	1.6% (Nov 2024)	35.72 L	0.00	Small Cap	47.01
# Cyient Ltd.	It enabled services	3.24	3720.5	2.14%	0.00%	3.32% (Nov 2024)	2.14% (Oct 2025)	33.11 L	0.00	Small Cap	47.01
# Brigade Enterprises Ltd.	Residential, commercial projects	4.19	3680.9	2.11%	0.00%	2.68% (Feb 2025)	1.71% (Nov 2024)	41.12 L	0.00	Small Cap	47.01
# Vishal Mega Mart Ltd.	Diversified retail	6	3504.3	2.01%	0.00%	2.25% (Aug 2025)	0% (Nov 2024)	2.58 Cr	0.00	Other	42.75
# Garware Technical Fibres Ltd.	Other textile products	1.94	3374.5	1.94%	0.00%	2.57% (Mar 2025)	2.01% (Oct 2025)	48.03 L	24.47 k	Small Cap	47.01
# Ajanta Pharma Limited	Pharmaceuticals	6.41	3122.4	1.79%	0.00%	2.1% (Feb 2025)	1.62% (Dec 2024)	12.19 L	0.00	Small Cap	47.01
# Alembic Pharmaceuticals Ltd.	Pharmaceuticals	6.41	3109.7	1.78%	0.00%	2.11% (Nov 2024)	1.71% (Oct 2025)	34.28 L	0.00	Mid Cap	4.03
# Minda Corporation Ltd.	Auto components & equipments	6.85	3038.5	1.74%	0.00%	1.66% (Sep 2025)	1.03% (Nov 2024)	52.27 L	0.00	Small Cap	47.01
# Medplus Health Services Ltd.	Pharmacy retail	1.66	2894.2	1.66%	0.00%	2% (May 2025)	1.32% (Nov 2024)	35.78 L	0.00	Other	42.75
# GE T&D India Ltd.	Heavy electrical equipment	1.59	2763.4	1.59%	0.00%	1.62% (Sep 2025)	0.97% (Feb 2025)	9.59 L	0.00	Small Cap	47.01
# V-Guard Industries Ltd.	Household appliances	6.34	2761.5	1.58%	0.00%	1.96% (Dec 2024)	1.61% (Oct 2025)	80.21 L	0.00	Small Cap	47.01
# V-Mart Retail Ltd.	Diversified retail	6	2748.9	1.58%	0.00%	2.01% (Nov 2024)	1.42% (Sep 2025)	35.12 L	6.00 k	Small Cap	47.01
# Aptus Value Housing Finance India Ltd.	Housing finance company	2.32	2670.8	1.53%	0.00%	1.47% (Sep 2025)	0% (Nov 2024)	95.69 L	15.00 L	Other	42.75
# BEML Ltd.	Construction vehicles	1.53	2668.1	1.53%	0.00%	1.8% (Jun 2025)	1.24% (Feb 2025)	14.60 L	14.60 L	Other	42.75
# Blue Star Ltd.	Household appliances	6.34	2657.5	1.53%	0.00%	3.35% (Feb 2025)	1.43% (May 2025)	15.05 L	0.00	Small Cap	47.01
# Jubilant Ingrevia Ltd.	Specialty chemicals	1.97	2569.8	1.47%	0.00%	1.53% (Jul 2025)	0% (Nov 2024)	36.29 L	0.00	Other	42.75
# VST Tillers Tractors Ltd.	Tractors	1.45	2522.4	1.45%	0.00%	1.5% (Oct 2025)	0.83% (May 2025)	4.50 L	0.00	Small Cap	47.01
# Bharti Hexacom Ltd.	Telecom - equipment & accessories	1.42	2481.5	1.42%	0.00%	1.76% (Apr 2025)	1.33% (Sep 2025)	14.03 L	0.00	Other	42.75
# Mahindra Lifespace Developers Ltd.	Residential, commercial projects	4.19	2464.4	1.41%	0.00%	1.26% (Oct 2025)	0.81% (Mar 2025)	58.76 L	0.00	Small Cap	47.01
# Five-Star Business Finance Ltd.	Non banking financial company (nbfc)	2.6	2428.9	1.39%	0.00%	1.34% (Oct 2025)	0% (Nov 2024)	41.11 L	4.00 L	Other	42.75
# Blue Dart Express Ltd.	Logistics solution provider	1.39	2416.3	1.39%	0.00%	1.88% (Nov 2024)	1.42% (Aug 2025)	4.22 L	0.00	Small Cap	47.01
# Metropolis Healthcare Ltd.	Healthcare service provider	5.66	2406.1	1.38%	0.00%	1.63% (Aug 2025)	0% (Nov 2024)	12.46 L	0.00	Other	42.75
# Avenue Supermarts Ltd.	Diversified retail	6	2369.6	1.36%	0.00%	1.61% (Aug 2025)	1.19% (Dec 2024)	5.93 L	0.00	Large Cap	5.16
# ICICI Lombard General Insurance Co Ltd.	General insurance	1.36	2364.6	1.36%	0.00%	1.33% (Oct 2025)	1.01% (Dec 2024)	12.00 L	0.00	Large Cap	5.16
# Axis Bank Ltd.	Private sector bank	3.26	2354.4	1.35%	0.00%	1.26% (Oct 2025)	0% (Nov 2024)	18.40 L	0.00	Large Cap	5.16
# Devyani International Ltd.	Restaurants	1.33	2312.7	1.33%	0.00%	1.15% (Oct 2025)	0% (Nov 2024)	1.70 Cr	42.00 L	Other	42.75
# J.b. Chemicals & Pharmaceuticals Ltd.	Pharmaceuticals	6.41	2296	1.32%	0.00%	1.32% (Apr 2025)	0% (Nov 2024)	12.96 L	0.00	Other	42.75
# Carborundum Universal Ltd.	Abrasives & bearings	1.29	2253.9	1.29%	0.00%	2.24% (Nov 2024)	1.31% (Oct 2025)	26.30 L	0.00	Small Cap	47.01
# Ratnamani Metals & Tubes Ltd.	Iron & steel products	2.14	2230.9	1.28%	0.00%	2.57% (Nov 2024)	1.27% (Oct 2025)	9.40 L	0.00	Small Cap	47.01
# Crompton Greaves Consumer Electricals Ltd.	Household appliances	6.34	2196.4	1.26%	0.00%	1.3% (Oct 2025)	0% (Nov 2024)	82.77 L	0.00	Mid Cap	4.03
# Shriram Finance Ltd.	Non banking financial company (nbfc)	2.6	2113.5	1.21%	0.00%	1.06% (Feb 2025)	0.81% (Dec 2024)	24.82 L	0.00	Other	42.75
# Cms Info Systems Ltd.	Diversified commercial services	1.17	2039.6	1.17%	0.00%	1.18% (Oct 2025)	0.94% (Jul 2025)	57.46 L	0.00	Other	42.75
# KFIN Technologies Ltd.	Financial technology (fintech)	1.16	2017.1	1.16%	0.00%	1.44% (Jun 2025)	0% (Nov 2024)	19.10 L	0.00	Other	42.75
# Schaeffler India Ltd.	Auto components & equipments	6.85	1987.6	1.14%	0.00%	1.23% (Sep 2025)	0.98% (Dec 2024)	5.10 L	0.00	Other	42.75
# Cello World Ltd.	Household appliances	6.34	1978	1.14%	0.00%	1.16% (Feb 2025)	0.94% (Dec 2024)	33.19 L	2.21 L	Other	42.75
# Balrampur Chini Mills Ltd.	Sugar	1.12	1948.6	1.12%	0.00%	1.52% (Mar 2025)	1.11% (Oct 2025)	43.53 L	0.00	Small Cap	47.01
# Sagility India Ltd.	It enabled services	3.24	1917.6	1.10%	0.00%	1.12% (Oct 2025)	0% (Nov 2024)	3.83 Cr	0.00	Other	42.75
# ICICI Bank Ltd.	Private sector bank	3.26	1896.7	1.09%	0.00%	1.09% (Mar 2025)	0.9% (Sep 2025)	13.66 L	0.00	Large Cap	5.16
# Shoppers Stop Limited	Diversified retail	6	1823.1	1.05%	0.00%	1.55% (Feb 2025)	1.19% (Jun 2025)	42.81 L	0.00	Small Cap	47.01
# J.K. Cement Ltd.	Cement & cement products	1.03	1798.1	1.03%	0.00%	1.63% (Apr 2025)	1.08% (Jun 2025)	3.12 L	0.00	Small Cap	47.01
# Mankind Pharma Ltd.	Pharmaceuticals	6.41	1791.2	1.03%	0.00%	1.24% (Dec 2024)	1.02% (Jun 2025)	7.96 L	0.00	Other	42.75
# Anthem Biosciences Ltd.	Biotechnology	0.99	1729.9	0.99%	0.00%	1.04% (Aug 2025)	0% (Nov 2024)	27.26 L	2.29 L	Other	42.75
# KEI Industries Ltd.	Cables - electricals	1.78	1716	0.98%	0.00%	0.96% (Sep 2025)	0.75% (Nov 2024)	4.14 L	0.00	Small Cap	47.01
# Dhanuka Agritech Ltd.	Pesticides & agrochemicals	0.95	1659.3	0.95%	0.00%	1.43% (Jul 2025)	1.02% (Oct 2025)	13.42 L	0.00	Small Cap	47.01
# Happy Forgings Ltd.	Castings & forgings	0.95	1656.3	0.95%	0.00%	1.03% (Jan 2025)	0.78% (Apr 2025)	15.98 L	0.00	Other	42.75
# Great Eastern Shipping Co. Ltd.	Shipping	0.88	1538.4	0.88%	0.00%	1.77% (Nov 2024)	1.23% (Oct 2025)	13.90 L	-6.24 L	Small Cap	47.01
# Bansal Wire Industries Ltd.	Iron & steel products	2.14	1494.9	0.86%	0.00%	1.14% (Mar 2025)	0.78% (Oct 2025)	46.13 L	0.00	Other	42.75
# G R Infraprojects Ltd.	Civil construction	5.82	1459.3	0.84%	0.00%	1.16% (Nov 2024)	0.88% (Oct 2025)	13.58 L	0.00	Other	42.75
# Hawkins Cookers Ltd.	Household appliances	6.34	1453.3	0.83%	0.00%	0.93% (Feb 2025)	0.81% (May 2025)	1.78 L	0.00	Small Cap	47.01
# Karur Vysya Bank Ltd	Private sector bank	3.26	1420.5	0.82%	0.00%	0.77% (Oct 2025)	0% (Nov 2024)	57.28 L	0.00	Small Cap	47.01
# Swiggy Ltd.	E-retail/ e-commerce	1.44	1412.8	0.81%	0.00%	0.9% (Sep 2025)	0.57% (Nov 2024)	37.34 L	0.00	Other	42.75
# R R Kabel Ltd.	Cables - electricals	1.78	1398.3	0.80%	0.00%	0.82% (May 2025)	0.6% (Mar 2025)	9.96 L	0.00	Other	42.75
# Home First Finance Company India Ltd.	Housing finance company	2.32	1384.1	0.79%	0.00%	0.87% (Sep 2025)	0% (Nov 2024)	12.46 L	0.00	Other	42.75
# Orient Electric Ltd.	Consumer electronics	0.79	1369.6	0.79%	0.00%	0.92% (Apr 2025)	0.71% (Sep 2025)	70.44 L	7.36 L	Small Cap	47.01
# Rolex Rings Private Ltd.	Auto components & equipments	6.85	1258.3	0.72%	0.00%	1.41% (Nov 2024)	0.83% (Oct 2025)	1.23 Cr	0.00	Other	42.75
# Somany Ceramics Ltd.	Ceramics	0.69	1194.5	0.69%	0.00%	1.11% (Nov 2024)	0.72% (Sep 2025)	28.29 L	0.00	Small Cap	47.01
# Max Estates Ltd.	Residential, commercial projects	4.19	1162.9	0.67%	0.00%	0.74% (Jan 2025)	0.59% (Mar 2025)	23.99 L	0.00	Other	42.75
# Physicswallah Ltd.	E-retail/ e-commerce	1.44	1092.1	0.63%	0.63%	0% (Dec 2025)	0% (Dec 2025)	87.44 L	87.44 L	Other	42.75
# Sandhar Technologies Ltd.	Auto components & equipments	6.85	1083.1	0.62%	0.00%	0.58% (May 2025)	0.45% (Apr 2025)	19.34 L	0.00	Small Cap	47.01
# Medi Assist Healthcare Services Ltd.	Healthcare service provider	5.66	1060.6	0.61%	0.00%	0.6% (Oct 2025)	0% (Nov 2024)	22.33 L	3.20 L	Other	42.75
# Hexaware Technologies Ltd.	Computers - software & consulting	0.61	1058.8	0.61%	0.00%	0.54% (Sep 2025)	0% (Nov 2024)	13.99 L	0.00	Other	42.75
# Sheela Foam Ltd.	Furniture, home furnishing	0.6	1036.7	0.60%	0.00%	1.08% (Dec 2024)	0.7% (May 2025)	17.28 L	-2.00 L	Small Cap	47.01
# PVR Inox Ltd.	Film production, distribution & exhibition	0.59	1030.4	0.59%	0.00%	0.84% (Nov 2024)	0.52% (Jun 2025)	9.65 L	0.00	Small Cap	47.01
# Nilkamal Ltd.	Plastic products - consumer	0.57	1000.4	0.57%	0.00%	0.79% (Feb 2025)	0.6% (Oct 2025)	7.09 L	-8.19 k	Small Cap	47.01
# Suraksha Diagnostic Ltd.	Healthcare service provider	5.66	890.7	0.51%	0.00%	0.57% (Apr 2025)	0.2% (Nov 2024)	30.43 L	0.00	Other	42.75
# Atul Ltd.	Specialty chemicals	1.97	874	0.50%	0.00%	0.63% (Apr 2025)	0.48% (Oct 2025)	1.49 L	0.00	Mid Cap	4.03
# Torrent Pharmaceuticals Ltd.	Pharmaceuticals	6.41	848.6	0.49%	0.00%	0.97% (Apr 2025)	0.85% (May 2025)	2.28 L	-2.36 L	Mid Cap	4.03
# WPIL Ltd.	Compressors, pumps & diesel engines	0.45	775.9	0.45%	0.00%	0.8% (Dec 2024)	0.45% (Jun 2025)	19.34 L	0.00	Other	42.75
# Kewal Kiran Clothing Ltd.	Garments & apparels	0.26	459	0.26%	0.00%	0.33% (Nov 2024)	0.23% (May 2025)	9.15 L	0.00	Small Cap	47.01
# Apollo Pipes Ltd.	Plastic products - industrial	0.26	457.5	0.26%	0.00%	0.42% (Nov 2024)	0.26% (Oct 2025)	15.25 L	0.00	Small Cap	47.01
# Anand Rathi Share & Stock Brokers Ltd.	Stockbroking & allied	0.21	372.5	0.21%	0.00%	0.15% (Oct 2025)	0% (Nov 2024)	5.37 L	0.00	Other	42.75
# Jupiter Life Line Hospitals Ltd.	Hospital	8.01	346.2	0.20%	0.00%	0.29% (Jan 2025)	0.2% (Jul 2025)	2.34 L	-0.22 L	Other	42.75

- 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
# Physicswallah Ltd.	E-retail/ e-commerce	1092.1	0.63%	0.63%	0% (Dec 2025)	0% (Dec 2025)	87.44 L	8744340

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
Aster DM Healthcare Ltd.	4.49%	4.42%	4.22%	4.04%	3.97%	3.89%	3.79%	3.74%	3.62%	3.29%	3.00%	2.74%	2.63%
Krishna Institute of Medical Sciences Ltd.	3.32%	3.38%	3.39%	3.50%	3.55%	3.16%	3.34%	3.50%	3.45%	3.06%	3.00%	2.72%	2.69%
Vijaya Diagnostic Centre Ltd.	3.16%	2.97%	3.10%	3.12%	3.14%	2.61%	2.64%	3.00%	3.15%	3.13%	3.09%	2.76%	2.94%
Century Plyboards India Ltd.	2.68%	2.77%	3.08%	2.83%	2.71%	2.79%	2.97%	2.92%	2.99%	3.30%	3.21%	2.73%	2.62%
Techno Electric & Engineering Co. Ltd.	2.52%	2.67%	2.78%	3.19%	3.00%	3.28%	3.00%	2.47%	2.36%	2.50%	2.35%	3.15%	2.96%
Cyient Ltd.	2.14%	2.14%	2.17%	2.38%	2.41%	2.55%	2.78%	2.68%	2.88%	3.14%	3.16%	3.28%	3.32%
Brigade Enterprises Ltd.	2.11%	2.37%	2.11%	2.17%	2.31%	2.53%	2.60%	2.67%	2.56%	2.68%	2.62%	1.75%	1.71%
Garware Technical Fibres Ltd.	1.94%	2.01%	2.03%	2.09%	2.40%	2.45%	2.32%	2.54%	2.57%	2.43%	2.31%	2.42%	2.36%
Sansera Engineering Ltd.	2.63%	2.20%	2.05%	2.04%	2.10%	2.15%	2.21%	1.85%	2.10%	2.11%	2.08%	2.18%	2.32%
Amber Enterprises India Ltd.	-	-	-	2.01%	2.16%	1.82%	1.82%	1.88%	2.22%	2.41%	2.44%	2.56%	2.11%
Kalpataru Power Transmission Ltd.	2.46%	2.49%	2.49%	2.48%	2.13%	2.24%	2.07%	1.93%	1.95%	1.88%	1.79%	2.03%	1.60%
Vishal Mega Mart Ltd.	2.01%	2.07%	2.20%	2.25%	2.06%	1.96%	-	-	-	-	-	-	-
Blue Star Ltd.	1.53%	1.62%	1.62%	1.62%	1.48%	1.47%	1.43%	1.74%	2.20%	3.35%	2.78%	3.03%	2.63%
Ratnamani Metals & Tubes Ltd.	1.28%	1.27%	1.30%	1.28%	1.39%	2.16%	2.18%	2.25%	2.19%	2.27%	2.31%	2.38%	2.57%
Alembic Pharmaceuticals Ltd.	1.78%	1.71%	1.77%	1.83%	1.87%	1.98%	2.01%	1.89%	2.03%	1.77%	1.92%	2.06%	2.11%