Motilal Oswal Services 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 : 51.00%. Category average turnover ratio is 167.64%. 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 : 91.40% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 91.40%

No of Stocks : 36 (Category Avg - 44.43) | Large Cap Investments : 2.06%| Mid Cap Investments : 13.89% | Small Cap Investments : 29.7% | Other : 45.74%

Portfolio Summary (as on 30th Nov,2025)

Particulars	This Scheme	Category
No. of Stocks	36	43.31
Top 5 Stock Weight	22.86%	32.32%
Top 10 Stock Weight	39.72%	49.31%
Top 3 Sector Weight	33.97%	43.27%

Category - Sectoral/Thematic

Particulars	This Scheme	Category
Average mcap (Cr)	5030.82	72871.69
Holdings in large cap stocks	2.06%	37.3%
Holdings in mid cap stocks	13.89%	14.28%
Holdings in small cap stocks	29.7%	12.55%

Category - Sectoral/Thematic

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
Aditya Birla Capital Ltd.	Life insurance	48.2	5.41%	1.47%	5.41% (Nov 2025)	0% (Dec 2024)	1.35 L	46.14 k
IDFC First Bank Ltd.	Private sector bank	41.4	4.65%	0.95%	4.65% (Nov 2025)	0% (Dec 2024)	5.16 L	1.88 L
Aster DM Healthcare Ltd.	Hospital	40.1	4.51%	0.96%	5.5% (Jul 2025)	0% (Dec 2024)	60.25 k	22.25 k
One 97 Communications Ltd.	Financial technology (fintech)	39.5	4.44%	0.17%	4.82% (Jul 2025)	0% (Dec 2024)	29.91 k	6.11 k
Zensar Technologies Ltd.	Computers - software & consulting	34.3	3.85%	1.42%	4.42% (Jun 2025)	0% (Dec 2024)	45.75 k	23.50 k
Hexaware Technologies Ltd.	Computers - software & consulting	34	3.82%	1.80%	4.55% (Jun 2025)	0% (Dec 2024)	44.90 k	23.50 k
# Physicswallah Ltd.	E-retail/ e-commerce	33	3.71%	3.71%	3.71% (Nov 2025)	0% (Dec 2024)	2.65 L	2.65 L
LG Electronics India Pvt. Ltd.	Consumer electronics	28.4	3.19%	-0.72%	3.91% (Oct 2025)	0% (Dec 2024)	17.11 k	0.00
Multi Commodity Exchange Of India Ltd.	Exchange and data platform	28.3	3.18%	-0.39%	4.92% (Jun 2025)	0% (Dec 2024)	2.81 k	0.00
Angel One Ltd.	Stockbroking & allied	26.3	2.96%	-0.38%	4.16% (Jun 2025)	0% (Dec 2024)	9.73 k	0.00

- indicates change in weight in the portfolio. # indicates a new entry.

View complete holding

Complete equity Portfolio (as on 30th Nov,2025)

None
Sector
M-Cap

Help me understand this table

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
Aditya Birla Capital Ltd.	Life insurance	5.41	48.2	5.41%	1.47%	5.41% (Nov 2025)	0% (Dec 2024)	1.35 L	46.14 k	Mid Cap	13.89
IDFC First Bank Ltd.	Private sector bank	7.36	41.4	4.65%	0.95%	4.65% (Nov 2025)	0% (Dec 2024)	5.16 L	1.88 L	Mid Cap	13.89
Aster DM Healthcare Ltd.	Hospital	8.91	40.1	4.51%	0.96%	5.5% (Jul 2025)	0% (Dec 2024)	60.25 k	22.25 k	Small Cap	29.7
One 97 Communications Ltd.	Financial technology (fintech)	6.23	39.5	4.44%	0.17%	4.82% (Jul 2025)	0% (Dec 2024)	29.91 k	6.11 k	Other	45.74
Zensar Technologies Ltd.	Computers - software & consulting	17.08	34.3	3.85%	1.42%	4.42% (Jun 2025)	0% (Dec 2024)	45.75 k	23.50 k	Small Cap	29.7
Hexaware Technologies Ltd.	Computers - software & consulting	17.08	34	3.82%	1.80%	4.55% (Jun 2025)	0% (Dec 2024)	44.90 k	23.50 k	Other	45.74
# Physicswallah Ltd.	E-retail/ e-commerce	7.98	33	3.71%	3.71%	3.71% (Nov 2025)	0% (Dec 2024)	2.65 L	2.65 L	Other	45.74
LG Electronics India Pvt. Ltd.	Consumer electronics	3.19	28.4	3.19%	-0.72%	3.91% (Oct 2025)	0% (Dec 2024)	17.11 k	0.00	Other	45.74
Multi Commodity Exchange Of India Ltd.	Exchange and data platform	3.18	28.3	3.18%	-0.39%	4.92% (Jun 2025)	0% (Dec 2024)	2.81 k	0.00	Small Cap	29.7
Angel One Ltd.	Stockbroking & allied	2.96	26.3	2.96%	-0.38%	4.16% (Jun 2025)	0% (Dec 2024)	9.73 k	0.00	Other	45.74
C.E. Info Systems Ltd.	Software products	2.85	25.4	2.85%	-0.94%	4.09% (Jun 2025)	0% (Dec 2024)	15.15 k	0.00	Other	45.74
Rategain Travel Technologies Ltd.	Computers - software & consulting	17.08	24.2	2.71%	-0.27%	3.78% (Sep 2025)	0% (Dec 2024)	34.00 k	0.00	Other	45.74
# DCB Bank Ltd.	Private sector bank	7.36	24.1	2.71%	2.71%	2.71% (Nov 2025)	0% (Dec 2024)	1.31 L	1.31 L	Small Cap	29.7
# V2 Retail Ltd.	Speciality retail	3.73	23	2.58%	2.58%	2.58% (Nov 2025)	0% (Dec 2024)	9.37 k	9.37 k	Small Cap	29.7
Indian Hotels Company Limited	Hotels & resorts	2.48	22.1	2.48%	-0.54%	4.46% (Jun 2025)	0% (Dec 2024)	29.65 k	0.00	Mid Cap	13.89
Mastek Ltd.	Computers - software & consulting	17.08	22	2.47%	0.61%	2.47% (Nov 2025)	0% (Dec 2024)	9.94 k	3.60 k	Small Cap	29.7
# Intellect Design Arena ltd.	Computers - software & consulting	17.08	21.3	2.39%	2.39%	2.39% (Nov 2025)	0% (Dec 2024)	19.12 k	19.12 k	Small Cap	29.7
Eternal Ltd.	E-retail/ e-commerce	7.98	21	2.36%	-0.70%	5.15% (Jul 2025)	0% (Dec 2024)	70.00 k	0.00	Other	45.74
Max Healthcare Institute Ltd.	Hospital	8.91	20.9	2.35%	-0.49%	5.36% (Jul 2025)	0% (Dec 2024)	18.00 k	0.00	Other	45.74
# Shriram Finance Ltd.	Non banking financial company (nbfc)	5.84	20.2	2.27%	2.27%	2.27% (Nov 2025)	0% (Dec 2024)	23.68 k	23.68 k	Other	45.74
Bajaj Finance Ltd.	Non banking financial company (nbfc)	5.84	19.7	2.22%	-0.51%	4.45% (Jun 2025)	0% (Dec 2024)	19.00 k	0.00	Other	45.74
Yatra Online Ltd.	Tour, travel related services	2.08	18.5	2.08%	-0.06%	2.14% (Oct 2025)	0% (Dec 2024)	1.07 L	0.00	Other	45.74
InterGlobe Aviation Ltd.	Airline	2.06	18.3	2.06%	-0.34%	4.63% (Jun 2025)	0% (Dec 2024)	3.10 k	0.00	Large Cap	2.06
Healthcare Global Enterprises Ltd.	Hospital	8.91	18.3	2.05%	-0.52%	2.77% (Sep 2025)	0% (Dec 2024)	25.00 k	0.00	Small Cap	29.7
Jain Resource Recycling Ltd.	Diversified metals	1.93	17.2	1.93%	-0.36%	2.29% (Oct 2025)	0% (Dec 2024)	43.07 k	0.00	Other	45.74
Swiggy Ltd.	E-retail/ e-commerce	7.98	17	1.91%	-0.62%	2.54% (Oct 2025)	0% (Dec 2024)	45.00 k	0.00	Other	45.74
# Birlasoft Ltd.	Computers - software & consulting	17.08	16.4	1.84%	1.84%	1.84% (Nov 2025)	0% (Dec 2024)	43.00 k	43.00 k	Small Cap	29.7
KFIN Technologies Ltd.	Financial technology (fintech)	6.23	15.9	1.79%	-0.48%	4.71% (Jun 2025)	0% (Dec 2024)	15.04 k	0.00	Other	45.74
Zaggle Prepaid Ocean Service Pvt Ltd.	It enabled services	1.72	15.3	1.72%	-0.28%	4.02% (Jun 2025)	0% (Dec 2024)	39.00 k	0.00	Other	45.74
Religare Enterprises Ltd.	Investment company	4.12	14.4	1.62%	-0.49%	2.51% (Sep 2025)	0% (Dec 2024)	58.00 k	0.00	Small Cap	29.7
Cholamandalam Financial Holdings Ltd.	Investment company	4.12	12.9	1.45%	-0.39%	4.87% (Jun 2025)	0% (Dec 2024)	7.00 k	0.00	Small Cap	29.7
Muthoot Finance Pvt. Ltd.	Non banking financial company (nbfc)	5.84	12	1.35%	-0.05%	1.71% (Sep 2025)	0% (Dec 2024)	3.22 k	0.00	Mid Cap	13.89
Bharti Hexacom Ltd.	Telecom - equipment & accessories	1.24	11.1	1.24%	-0.36%	4.88% (Jun 2025)	0% (Dec 2024)	6.26 k	0.00	Other	45.74
Aditya Vision Ltd.	Speciality retail	3.73	10.2	1.15%	-0.39%	1.56% (Sep 2025)	0% (Dec 2024)	19.48 k	0.00	Other	45.74
JM Financial Ltd.	Investment company	4.12	9.3	1.05%	-0.40%	2.07% (Aug 2025)	0% (Dec 2024)	64.25 k	0.00	Small Cap	29.7
Wework India Management Ltd.	Diversified commercial services	1.04	9.2	1.04%	-0.33%	1.37% (Oct 2025)	0% (Dec 2024)	15.43 k	0.00	Other	45.74
Euro Pratik Sales Ltd.	Furniture, home furnishing		14.7	0.00%	-2.02%	-	-	-	-	Other	45.74
Solarworld Energy Solutions Ltd.	Civil construction		16.4	0.00%	-2.25%	-	-	-	-	Other	45.74
Mahindra Logistics Ltd.	Logistics solution provider		9.7	0.00%	-1.34%	-	-	-	-	Small Cap	29.7
Magma Fincorp Ltd.	Non banking financial company (nbfc)	5.84	14.9	0.00%	-2.05%	-	-	-	-	Small Cap	29.7
VA Tech Wabag Ltd.	Water supply & management		9.9	0.00%	-1.36%	-	-	-	-	Small Cap	29.7
Affle India Ltd.	It enabled services	1.72	18.5	0.00%	-2.55%	-	-	-	-	Other	45.74

- 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	33	3.71%	3.71%	3.71% (Nov 2025)	0% (Dec 2024)	2.65 L	264537
# DCB Bank Ltd.	Private sector bank	24.1	2.71%	2.71%	2.71% (Nov 2025)	0% (Dec 2024)	1.31 L	131397
# Intellect Design Arena ltd.	Computers - software & consulting	21.3	2.39%	2.39%	2.39% (Nov 2025)	0% (Dec 2024)	19.12 k	19123
# V2 Retail Ltd.	Speciality retail	23	2.58%	2.58%	2.58% (Nov 2025)	0% (Dec 2024)	9.37 k	9372
# Shriram Finance Ltd.	Non banking financial company (nbfc)	20.2	2.27%	2.27%	2.27% (Nov 2025)	0% (Dec 2024)	23.68 k	23678
# Birlasoft Ltd.	Computers - software & consulting	16.4	1.84%	1.84%	1.84% (Nov 2025)	0% (Dec 2024)	43.00 k	43000

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	1M Change in Qty
Euro Pratik Sales Ltd.	Furniture, home furnishing	14.7	0.00%	-2.02%	2.02% (Oct 2025)	0% (Dec 2024)	-46161
Solarworld Energy Solutions Ltd.	Civil construction	16.4	0.00%	-2.25%	2.25% (Oct 2025)	0% (Dec 2024)	-51401
Mahindra Logistics Ltd.	Logistics solution provider	9.7	0.00%	-1.34%	1.82% (Aug 2025)	0% (Dec 2024)	-27500
Magma Fincorp Ltd.	Non banking financial company (nbfc)	14.9	0.00%	-2.05%	3.13% (Jul 2025)	0% (Dec 2024)	-31000
VA Tech Wabag Ltd.	Water supply & management	9.9	0.00%	-1.36%	1.73% (Sep 2025)	0% (Dec 2024)	-6982
Affle India Ltd.	It enabled services	18.5	0.00%	-2.55%	4.79% (Jun 2025)	0% (Dec 2024)	-9600

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
Aditya Infotech Ltd.	-	-	3.13%	7.25%	4.44%	-	-	-	-	-	-	-	-
Aster DM Healthcare Ltd.	4.51%	3.54%	4.11%	4.77%	5.50%	4.69%	-	-	-	-	-	-	-
One 97 Communications Ltd.	4.44%	4.26%	4.61%	4.66%	4.82%	4.27%	-	-	-	-	-	-	-
PB Fintech Ltd.	-	-	3.29%	4.14%	4.85%	4.47%	-	-	-	-	-	-	-
IDFC First Bank Ltd.	4.65%	3.70%	-	-	-	-	-	-	-	-	-	-	-
BSE Ltd.	-	-	-	-	-	4.15%	-	-	-	-	-	-	-
Eternal Ltd.	2.36%	3.06%	3.93%	4.59%	5.15%	4.62%	-	-	-	-	-	-	-
Max Healthcare Institute Ltd.	2.35%	2.84%	3.46%	4.34%	5.36%	4.78%	-	-	-	-	-	-	-
Multi Commodity Exchange Of India Ltd.	3.18%	3.57%	3.77%	3.39%	4.05%	4.92%	-	-	-	-	-	-	-
Affle India Ltd.	-	2.55%	3.22%	3.82%	4.50%	4.79%	-	-	-	-	-	-	-
Aditya Birla Capital Ltd.	5.41%	3.94%	3.38%	3.88%	4.11%	1.57%	-	-	-	-	-	-	-
Physicswallah Ltd.	3.71%	-	-	-	-	-	-	-	-	-	-	-	-
Indian Hotels Company Limited	2.48%	3.02%	3.68%	3.72%	4.16%	4.46%	-	-	-	-	-	-	-
C.E. Info Systems Ltd.	2.85%	3.79%	3.45%	3.19%	4.01%	4.09%	-	-	-	-	-	-	-
LG Electronics India Pvt. Ltd.	3.19%	3.91%	-	-	-	-	-	-	-	-	-	-	-