Mirae Asset Midcap Fund - Direct 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.

Category : Mid Cap Fund

Portfolio Turnover Ratio : 110.00%. Category average turnover ratio is 247.25%. 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 : 98.11% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 98.11%

No of Stocks : 69 (Category Avg - 70.19) | Large Cap Investments : 18.56%| Mid Cap Investments : 46.21% | Small Cap Investments : 8.61% | Other : 24.73%

Portfolio Summary (as on 30th Nov,2025)

Particulars	This Scheme	Category
No. of Stocks	69	69.94
Top 5 Stock Weight	15.01%	17.53%
Top 10 Stock Weight	27.4%	30.61%
Top 3 Sector Weight	20.34%	21.1%

Category - Mid Cap Fund

Particulars	This Scheme	Category
Average mcap (Cr)	20802.11	14326.83
Holdings in large cap stocks	18.56%	9.42%
Holdings in mid cap stocks	46.21%	34.55%
Holdings in small cap stocks	8.61%	18.77%

Category - Mid 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
Lupin Ltd.	Pharmaceuticals	5904.7	3.21%	0.25%	3.42% (Apr 2025)	2.62% (Jan 2025)	28.36 L	1.00 L
Federal Bank Ltd.	Private sector bank	5887.7	3.20%	0.59%	3.2% (Nov 2025)	1.81% (Jul 2025)	2.28 Cr	28.19 L
Bharat Forge Ltd.	Castings & forgings	5582.2	3.04%	0.37%	3.04% (Nov 2025)	0.93% (Dec 2024)	38.93 L	2.46 L
Delhivery Ltd.	Logistics solution provider	5238.8	2.85%	0.05%	3.04% (Aug 2025)	2% (Mar 2025)	1.23 Cr	13.90 L
Hero Motocorp Ltd.	2/3 wheelers	4985.5	2.71%	0.24%	2.71% (Nov 2025)	0% (Dec 2024)	8.07 L	0.00
Tata Communications Ltd.	Telecom - cellular & fixed line services	4830.8	2.63%	-0.13%	2.76% (Oct 2025)	2.05% (Feb 2025)	26.61 L	0.00
Prestige Estates Projects Ltd.	Residential, commercial projects	4735.3	2.58%	0.10%	2.58% (Nov 2025)	1.65% (Jan 2025)	28.23 L	2.51 L
L&T Finance Holdings Ltd.	Investment company	4544.6	2.47%	0.13%	2.97% (Aug 2025)	1.11% (Dec 2024)	1.45 Cr	-0.12 Cr
Cummins India Ltd.	Compressors, pumps & diesel engines	4428.6	2.41%	-0.56%	2.97% (Oct 2025)	1.24% (Apr 2025)	9.89 L	-2.49 L
Indusind Bank Ltd.	Private sector bank	4221.8	2.30%	0.41%	2.3% (Nov 2025)	0% (Dec 2024)	49.17 L	6.12 L

- 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
Lupin Ltd.	Pharmaceuticals	8.3	5904.7	3.21%	0.25%	3.42% (Apr 2025)	2.62% (Jan 2025)	28.36 L	1.00 L	Large Cap	18.56
Federal Bank Ltd.	Private sector bank	7.42	5887.7	3.20%	0.59%	3.2% (Nov 2025)	1.81% (Jul 2025)	2.28 Cr	28.19 L	Mid Cap	46.21
Bharat Forge Ltd.	Castings & forgings	3.04	5582.2	3.04%	0.37%	3.04% (Nov 2025)	0.93% (Dec 2024)	38.93 L	2.46 L	Mid Cap	46.21
Delhivery Ltd.	Logistics solution provider	4.62	5238.8	2.85%	0.05%	3.04% (Aug 2025)	2% (Mar 2025)	1.23 Cr	13.90 L	Other	24.73
Hero Motocorp Ltd.	2/3 wheelers	3.17	4985.5	2.71%	0.24%	2.71% (Nov 2025)	0% (Dec 2024)	8.07 L	0.00	Large Cap	18.56
Tata Communications Ltd.	Telecom - cellular & fixed line services	2.63	4830.8	2.63%	-0.13%	2.76% (Oct 2025)	2.05% (Feb 2025)	26.61 L	0.00	Mid Cap	46.21
Prestige Estates Projects Ltd.	Residential, commercial projects	3.69	4735.3	2.58%	0.10%	2.58% (Nov 2025)	1.65% (Jan 2025)	28.23 L	2.51 L	Mid Cap	46.21
L&T Finance Holdings Ltd.	Investment company	2.47	4544.6	2.47%	0.13%	2.97% (Aug 2025)	1.11% (Dec 2024)	1.45 Cr	-0.12 Cr	Mid Cap	46.21
Cummins India Ltd.	Compressors, pumps & diesel engines	2.41	4428.6	2.41%	-0.56%	2.97% (Oct 2025)	1.24% (Apr 2025)	9.89 L	-2.49 L	Mid Cap	46.21
Indusind Bank Ltd.	Private sector bank	7.42	4221.8	2.30%	0.41%	2.3% (Nov 2025)	0% (Dec 2024)	49.17 L	6.12 L	Large Cap	18.56
Swiggy Ltd.	E-retail/ e-commerce	3.26	4175.6	2.27%	-0.11%	2.39% (Aug 2025)	0% (Dec 2024)	1.10 Cr	5.00 L	Other	24.73
Dalmia Bharat Ltd.	Cement & cement products	2.19	4029.2	2.19%	0.14%	2.53% (Aug 2025)	0.59% (Dec 2024)	20.05 L	2.33 L	Mid Cap	46.21
Pi Industries Ltd.	Pesticides & agrochemicals	3.26	3857.8	2.10%	-0.03%	2.22% (Jul 2025)	0% (Dec 2024)	11.36 L	56.08 k	Mid Cap	46.21
Voltas Limited	Household appliances	2.47	3740.6	2.04%	-0.21%	2.51% (Jul 2025)	1.14% (Dec 2024)	27.18 L	-2.17 L	Mid Cap	46.21
HDFC Asset Management Co. Ltd.	Asset management company	2.01	3701.2	2.01%	0.59%	2.22% (Feb 2025)	0.87% (Sep 2025)	13.85 L	9.05 L	Large Cap	18.56
PB Fintech Ltd.	Financial technology (fintech)	3.93	3608.8	1.96%	-0.12%	2.09% (Sep 2025)	1% (Apr 2025)	19.84 L	-1.25 L	Other	24.73
Axis Bank Ltd.	Private sector bank	7.42	3531.4	1.92%	0.25%	2.3% (Mar 2025)	1.53% (Aug 2025)	27.60 L	3.00 L	Large Cap	18.56
Max Financial Services Ltd.	Life insurance	3.25	3504.5	1.91%	0.27%	1.91% (Nov 2025)	0% (Dec 2024)	20.59 L	1.47 L	Mid Cap	46.21
Steel Authority Of India Ltd.	Iron & steel products	1.86	3414.9	1.86%	0.01%	1.91% (Sep 2025)	0% (Dec 2024)	2.53 Cr	8.95 L	Mid Cap	46.21
Ceat Ltd.	Tyres & rubber products	2.68	3330.3	1.81%	-0.12%	1.93% (Oct 2025)	1.55% (Jul 2025)	8.66 L	0.00	Small Cap	8.61
Oracle Financial Services Software Limited	Software products	1.8	3312.5	1.80%	-0.12%	2.02% (Aug 2025)	1.37% (Feb 2025)	4.09 L	0.00	Mid Cap	46.21
Container Corporation Of India Ltd.	Logistics solution provider	4.62	3258	1.77%	0.10%	1.77% (Nov 2025)	0.91% (Feb 2025)	63.73 L	8.00 L	Large Cap	18.56
Multi Commodity Exchange Of India Ltd.	Exchange and data platform	1.88	3241	1.76%	0.02%	2.11% (Sep 2025)	0.88% (Jan 2025)	3.22 L	-0.19 L	Small Cap	8.61
Apollo Hospitals Enterprises Ltd.	Hospital	2.88	3157.5	1.72%	0.08%	2.06% (Jun 2025)	0% (Dec 2024)	4.30 L	43.66 k	Mid Cap	46.21
GO Digit General Insurance Ltd.	General insurance	1.7	3131.7	1.70%	-0.03%	1.81% (Feb 2025)	1.22% (Sep 2025)	87.44 L	0.00	Other	24.73
Gland Pharma Ltd.	Pharmaceuticals	8.3	2949.4	1.60%	0.20%	2.37% (Feb 2025)	1.38% (Apr 2025)	16.76 L	3.61 L	Other	24.73
Laurus Labs Ltd.	Pharmaceuticals	8.3	2911.1	1.58%	-0.03%	1.62% (Oct 2025)	0% (Dec 2024)	28.23 L	-2.48 L	Other	24.73
HDB Financial Services Ltd.	Non banking financial company (nbfc)	1.57	2894	1.57%	0.10%	1.57% (Nov 2025)	0% (Dec 2024)	37.72 L	1.32 L	Other	24.73
KPIT Technologies Ltd.	Computers - software & consulting	3.67	2811.5	1.53%	0.05%	1.66% (May 2025)	0.65% (Dec 2024)	23.00 L	0.00	Other	24.73
Bharat Heavy Electricals Ltd.	Heavy electrical equipment	1.52	2786.6	1.52%	-0.17%	1.68% (Oct 2025)	0.57% (Dec 2024)	95.81 L	-0.19 Cr	Mid Cap	46.21
Tata Power Co. Ltd.	Integrated power utilities	1.43	2630.2	1.43%	-0.08%	1.9% (Mar 2025)	1.19% (Aug 2025)	67.42 L	0.00	Mid Cap	46.21
Adani Wilmar Ltd.	Edible oil	1.38	2544.2	1.38%	-0.01%	1.6% (Apr 2025)	0% (Dec 2024)	98.23 L	6.08 L	Other	24.73
Bata India Ltd.	Footwear	1.97	2511	1.37%	-0.12%	1.49% (Sep 2025)	1.07% (Aug 2025)	25.13 L	0.00	Mid Cap	46.21
Indus Towers Ltd.	Telecom - infrastructure	1.37	2510.5	1.37%	0.07%	2.01% (Dec 2024)	1.26% (Apr 2025)	62.60 L	-2.00 L	Large Cap	18.56
Supreme Industries Ltd.	Plastic products - industrial	1.67	2470.8	1.34%	-0.34%	1.75% (Aug 2025)	0% (Dec 2024)	7.29 L	-0.72 L	Mid Cap	46.21
Aditya Birla Capital Ltd.	Life insurance	3.25	2459.8	1.34%	-0.14%	1.62% (Aug 2025)	0% (Dec 2024)	68.70 L	-0.14 Cr	Mid Cap	46.21
Persistent Systems Ltd.	Computers - software & consulting	3.67	2401.5	1.31%	0.07%	1.31% (Nov 2025)	0% (Dec 2024)	3.78 L	0.00	Other	24.73
Hindustan Petroleum Corporation Ltd.	Refineries & marketing	1.24	2286.3	1.24%	-0.07%	2.23% (Sep 2025)	1.13% (Jul 2025)	49.97 L	0.00	Large Cap	18.56
Syngene International Ltd.	Healthcare research, analytics & technology	1.22	2250.9	1.22%	0.15%	1.33% (Mar 2025)	0.61% (Sep 2025)	34.72 L	4.71 L	Mid Cap	46.21
LIC Housing Finance Ltd.	Housing finance company	1.21	2227.4	1.21%	-0.22%	1.65% (Jan 2025)	0.96% (Jun 2025)	40.56 L	-4.89 L	Mid Cap	46.21
Narayana Hrudayalaya Ltd.	Hospital	2.88	2124.3	1.16%	0.42%	1.16% (Nov 2025)	0% (Dec 2024)	10.92 L	3.36 L	Small Cap	8.61
UPL Ltd.	Pesticides & agrochemicals	3.26	2122.9	1.16%	0.17%	1.31% (Jun 2025)	0.78% (Dec 2024)	27.98 L	3.21 L	Large Cap	18.56
Phoenix Mills Ltd.	Residential, commercial projects	3.69	2037	1.11%	0.02%	1.11% (Nov 2025)	0% (Dec 2024)	11.73 L	0.00	Small Cap	8.61
# 3M India Ltd.	Diversified	1.09	2011	1.09%	1.09%	1.09% (Nov 2025)	0% (Dec 2024)	57.72 k	57.72 k	Mid Cap	46.21
SRF Ltd.	Specialty chemicals	1.49	1893.6	1.03%	-0.02%	2.21% (Jan 2025)	1.03% (Nov 2025)	6.47 L	0.00	Mid Cap	46.21
- One 97 Communications Ltd.	Financial technology (fintech)	3.93	1868.1	1.02%	0.00%	2.48% (Dec 2024)	1.02% (Nov 2025)	14.15 L	0.00	Other	24.73
Biocon Ltd.	Pharmaceuticals	8.3	1820.1	0.99%	0.01%	0.99% (Nov 2025)	0% (Dec 2024)	45.69 L	-2.23 L	Mid Cap	46.21
FSN E-Commerce Ventures Ltd.	E-retail/ e-commerce	3.26	1813.4	0.99%	0.06%	2.17% (Apr 2025)	0.92% (Sep 2025)	67.84 L	0.00	Other	24.73
# Pine Labs Ltd.	Financial technology (fintech)	3.93	1748.6	0.95%	0.95%	0.95% (Nov 2025)	0% (Dec 2024)	70.01 L	70.01 L	Other	24.73
Gujarat Gas Ltd.	Gas transmission/marketing	1.79	1743.8	0.95%	-0.04%	1.15% (May 2025)	0.87% (Feb 2025)	44.02 L	0.00	Other	24.73
Aurobindo Pharma Ltd.	Pharmaceuticals	8.3	1598.4	0.87%	0.05%	1.95% (May 2025)	0.82% (Oct 2025)	13.03 L	0.00	Large Cap	18.56
MRF Ltd.	Tyres & rubber products	2.68	1594.3	0.87%	-0.17%	1.04% (Oct 2025)	0% (Dec 2024)	10.46 k	-1.46 k	Mid Cap	46.21
Gujarat State Petronet Ltd.	Gas transmission/marketing	1.79	1545	0.84%	-0.08%	1.09% (Apr 2025)	0.84% (Nov 2025)	53.74 L	0.00	Mid Cap	46.21
Mphasis Ltd.	Computers - software & consulting	3.67	1532.1	0.83%	-0.87%	2.77% (Jan 2025)	0.83% (Nov 2025)	5.45 L	-5.69 L	Mid Cap	46.21
Jyothy Laboratories Ltd.	Household products	0.81	1483.2	0.81%	-0.05%	1.22% (Jan 2025)	0.81% (Nov 2025)	49.43 L	0.00	Small Cap	8.61
SKF India (Industrial) Ltd.	Auto components & equipments	1.22	1478.9	0.80%	-0.01%	0.82% (Oct 2025)	0% (Dec 2024)	5.46 L	0.00	Other	24.73
Au Small Finance Bank Ltd.	Other bank	0.7	1279.8	0.70%	-0.17%	1.65% (Apr 2025)	0.48% (Dec 2024)	13.40 L	-4.51 L	Mid Cap	46.21
Campus Activewear Ltd.	Footwear	1.97	1099	0.60%	-0.02%	0.78% (Dec 2024)	0.6% (Nov 2025)	39.83 L	0.00	Other	24.73
Century Plyboards India Ltd.	Plywood boards/ laminates	0.59	1084.2	0.59%	0.03%	1.01% (Jan 2025)	0.56% (Oct 2025)	13.54 L	618.00	Small Cap	8.61
SKF India Ltd.	Abrasives & bearings	0.76	1043.6	0.57%	-0.08%	1.54% (Jul 2025)	0.57% (Nov 2025)	5.45 L	0.00	Small Cap	8.61
Teamlease Services Ltd.	Diversified commercial services	0.49	892.6	0.49%	-0.02%	0.7% (Dec 2024)	0.48% (Mar 2025)	5.42 L	0.00	Small Cap	8.61
Ola Electric Mobility Ltd.	2/3 wheelers	3.17	844	0.46%	-0.11%	0.91% (Dec 2024)	0.18% (May 2025)	2.05 Cr	0.00	Other	24.73
Gujarat Fluorochemicals Ltd.	Specialty chemicals	1.49	843.2	0.46%	-0.02%	0.47% (Oct 2025)	0% (Dec 2024)	2.46 L	16.49 k	Other	24.73
Crompton Greaves Consumer Electricals Ltd.	Household appliances	2.47	796.1	0.43%	-0.04%	1.3% (May 2025)	0.43% (Nov 2025)	30.00 L	0.00	Mid Cap	46.21
Schaeffler India Ltd.	Auto components & equipments	1.22	779.9	0.42%	-0.25%	1.64% (Apr 2025)	0.42% (Nov 2025)	2.00 L	-1.05 L	Other	24.73
Prince Pipes and Fittings Ltd.	Plastic products - industrial	1.67	599.4	0.33%	-0.06%	0.56% (Dec 2024)	0.33% (Nov 2025)	21.74 L	0.00	Other	24.73
Nrb Bearings Ltd.	Abrasives & bearings	0.76	343.2	0.19%	0.01%	0.33% (Dec 2024)	0.18% (Oct 2025)	11.75 L	0.00	Small Cap	8.61
BSE Ltd.	Exchange and data platform	1.88	213.1	0.12%	0.02%	0.77% (Mar 2025)	0% (Dec 2024)	73.42 k	0.00	Small Cap	8.61
Glenmark Pharmaceuticals Ltd.	Pharmaceuticals	8.3	84.4	0.05%	-0.70%	1.89% (Dec 2024)	0.05% (Nov 2025)	43.37 k	-6.67 L	Mid Cap	46.21
Oberoi Realty Ltd.	Residential, commercial projects	3.69	983.6	0.00%	-0.54%	-	-	-	-	Mid Cap	46.21
Indian Bank	Public sector bank		1294.9	0.00%	-0.71%	-	-	-	-	Mid Cap	46.21

- 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
# Pine Labs Ltd.	Financial technology (fintech)	1748.6	0.95%	0.95%	0.95% (Nov 2025)	0% (Dec 2024)	70.01 L	7000943
# 3M India Ltd.	Diversified	2011	1.09%	1.09%	1.09% (Nov 2025)	0% (Dec 2024)	57.72 k	57722

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
Oberoi Realty Ltd.	Residential, commercial projects	983.6	0.00%	-0.54%	1.24% (Jun 2025)	0% (Dec 2024)	0.00	-553105
Indian Bank	Public sector bank	1294.9	0.00%	-0.71%	2.66% (Dec 2024)	0% (Dec 2024)	0.00	-1508020

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
Lupin Ltd.	3.21%	2.97%	3.01%	3.01%	3.02%	2.84%	3.02%	3.42%	3.02%	2.86%	2.62%	2.75%	2.39%
Delhivery Ltd.	2.85%	2.80%	2.85%	3.04%	2.72%	2.52%	2.48%	2.32%	2.00%	2.11%	2.43%	2.43%	2.35%
Federal Bank Ltd.	3.20%	2.61%	1.93%	1.88%	1.81%	1.89%	1.99%	2.72%	3.15%	3.20%	2.93%	2.55%	2.69%
Tata Communications Ltd.	2.63%	2.76%	2.69%	2.64%	2.55%	2.53%	2.53%	2.55%	2.32%	2.05%	2.21%	2.14%	2.12%
Mphasis Ltd.	0.83%	1.70%	2.09%	2.55%	2.60%	2.52%	2.71%	2.77%	2.66%	2.43%	2.77%	2.42%	2.52%
L&T Finance Holdings Ltd.	2.47%	2.35%	2.51%	2.97%	2.80%	2.70%	2.36%	2.33%	2.17%	2.06%	1.96%	1.11%	1.16%
Cummins India Ltd.	2.41%	2.97%	2.94%	2.93%	2.35%	2.23%	1.96%	1.24%	1.35%	1.69%	1.62%	2.06%	2.34%
Prestige Estates Projects Ltd.	2.58%	2.48%	2.04%	2.16%	2.22%	2.38%	2.30%	2.33%	1.95%	1.89%	1.65%	1.76%	1.77%
Bharat Forge Ltd.	3.04%	2.67%	2.57%	2.40%	2.41%	2.47%	2.46%	2.32%	2.07%	1.35%	0.99%	0.93%	0.65%
Hero Motocorp Ltd.	2.71%	2.47%	2.39%	1.69%	0.33%	-	-	-	-	-	-	-	-
Voltas Limited	2.04%	2.24%	2.31%	2.40%	2.51%	2.25%	1.79%	1.85%	2.26%	1.73%	1.26%	1.14%	1.16%
Axis Bank Ltd.	1.92%	1.67%	1.62%	1.53%	1.54%	2.00%	2.09%	2.20%	2.30%	2.28%	1.98%	1.79%	1.91%
Pi Industries Ltd.	2.10%	2.13%	2.03%	1.99%	2.22%	1.88%	1.75%	1.02%	-	-	-	-	-
Hindustan Petroleum Corporation Ltd.	1.24%	1.31%	2.23%	1.94%	1.13%	2.07%	2.04%	1.84%	1.98%	1.98%	2.07%	2.12%	1.90%
Oracle Financial Services Software Limited	1.80%	1.92%	2.00%	2.02%	1.99%	1.60%	1.58%	1.73%	1.61%	1.37%	1.44%	1.87%	2.22%