Parag Parikh Flexi 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 : Flexi Cap Fund

Portfolio Turnover Ratio : 42.02%. Category average turnover ratio is 146.02%. 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 : 67.36% | F&O Holdings : 0.00%| Foreign Equity Holdings : 11.16%| Total : 78.52%

No of Stocks : 91 (Category Avg - 63.88) | Large Cap Investments : 51.3%| Mid Cap Investments : 2.18% | Small Cap Investments : 2.91% | Other : 22.13%

Portfolio Summary (as on 31st Dec,2025)

Particulars	This Scheme	Category
No. of Stocks	91	62.19
Top 5 Stock Weight	28.49%	25.34%
Top 10 Stock Weight	48.11%	40.49%
Top 3 Sector Weight	38.65%	31.39%

Category - Flexi Cap Fund

Particulars	This Scheme	Category
Average mcap (Cr)	102420.40	96502.02
Holdings in large cap stocks	51.3%	41.04%
Holdings in mid cap stocks	2.18%	13.09%
Holdings in small cap stocks	2.91%	10.54%

Category - Flexi Cap Fund

Top 10 Stocks holding in Portfolio (as on 31st Dec,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	107781.3	8.09%	0.06%	8.43% (Feb 2025)	7.93% (Aug 2025)	10.87 Cr	52.52 L
Power Grid Corporation of India Ltd.	Power - transmission	80813.9	6.06%	0.15%	6.24% (Jan 2025)	5.52% (Feb 2025)	30.54 Cr	2.13 Cr
ICICI Bank Ltd.	Private sector bank	66238.9	4.97%	0.12%	5.18% (Jul 2025)	4.63% (Oct 2025)	4.93 Cr	40.17 L
Coal India Ltd.	Coal	64653.8	4.85%	0.15%	6.15% (Jan 2025)	4.7% (Nov 2025)	16.20 Cr	0.00
Bajaj Holdings & Investment Ltd.	Holding company	60252.7	4.52%	-0.19%	7.1% (Mar 2025)	4.52% (Dec 2025)	53.19 L	0.00
ITC Limited	Diversified fmcg	59912.3	4.49%	-0.02%	4.94% (Jan 2025)	4.4% (May 2025)	14.87 Cr	39.29 L
Kotak Mahindra Bank Ltd.	Private sector bank	54194.6	4.07%	0.09%	4.59% (Mar 2025)	3.84% (Jul 2025)	2.46 Cr	3.15 L
Alphabet Inc	Foreign equity	53160.6	3.99%	-0.18%	4.17% (Nov 2025)	2.57% (Apr 2025)	18.90 L	0.00
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	48343.8	3.63%	0.03%	3.63% (Dec 2025)	2.96% (Feb 2025)	1.30 Cr	5.98 L
Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	45861.2	3.44%	0.07%	4.14% (Jan 2025)	3.36% (Jul 2025)	27.47 L	0.00

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

View complete holding

Complete equity Portfolio (as on 31st Dec,2025)

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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
HDFC Bank Ltd.	Private sector bank	20.42	107781.3	8.09%	0.06%	8.43% (Feb 2025)	7.93% (Aug 2025)	10.87 Cr	52.52 L	Other	22.13
Power Grid Corporation of India Ltd.	Power - transmission	6.06	80813.9	6.06%	0.15%	6.24% (Jan 2025)	5.52% (Feb 2025)	30.54 Cr	2.13 Cr	Large Cap	51.3
ICICI Bank Ltd.	Private sector bank	20.42	66238.9	4.97%	0.12%	5.18% (Jul 2025)	4.63% (Oct 2025)	4.93 Cr	40.17 L	Large Cap	51.3
Coal India Ltd.	Coal	4.85	64653.8	4.85%	0.15%	6.15% (Jan 2025)	4.7% (Nov 2025)	16.20 Cr	0.00	Large Cap	51.3
Bajaj Holdings & Investment Ltd.	Holding company	4.57	60252.7	4.52%	-0.19%	7.1% (Mar 2025)	4.52% (Dec 2025)	53.19 L	0.00	Large Cap	51.3
ITC Limited	Diversified fmcg	4.49	59912.3	4.49%	-0.02%	4.94% (Jan 2025)	4.4% (May 2025)	14.87 Cr	39.29 L	Large Cap	51.3
Kotak Mahindra Bank Ltd.	Private sector bank	20.42	54194.6	4.07%	0.09%	4.59% (Mar 2025)	3.84% (Jul 2025)	2.46 Cr	3.15 L	Large Cap	51.3
Alphabet Inc	Foreign equity	11.16	53160.6	3.99%	-0.18%	4.17% (Nov 2025)	2.57% (Apr 2025)	18.90 L	0.00	Other	22.13
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	7.07	48343.8	3.63%	0.03%	3.63% (Dec 2025)	2.96% (Feb 2025)	1.30 Cr	5.98 L	Large Cap	51.3
Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	7.07	45861.2	3.44%	0.07%	4.14% (Jan 2025)	3.36% (Jul 2025)	27.47 L	0.00	Large Cap	51.3
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	3.37	44569.3	3.34%	-0.09%	3.81% (Jun 2025)	0.04% (Jan 2025)	2.12 Cr	0.00	Large Cap	51.3
Axis Bank Ltd.	Private sector bank	20.42	42201	3.17%	-0.11%	3.28% (Nov 2025)	2.84% (Jul 2025)	3.32 Cr	0.00	Large Cap	51.3
Facebook	Foreign equity	11.16	35064.8	2.63%	-0.01%	3.93% (Jan 2025)	2.63% (Dec 2025)	5.91 L	0.00	Other	22.13
HCL Technologies Limited	Computers - software & consulting	5.73	34602.1	2.60%	0.12%	3.6% (Jan 2025)	2.16% (Sep 2025)	2.13 Cr	14.85 L	Large Cap	51.3
Microsoft Corp	Foreign equity	11.16	31861	2.39%	-0.10%	3.02% (Jul 2025)	2.39% (Dec 2025)	7.33 L	0.00	Other	22.13
Amazon.com	Foreign equity	11.16	28674.9	2.15%	-0.06%	3.15% (Jan 2025)	2.15% (Dec 2025)	13.82 L	4.58 k	Other	22.13
Infosys Ltd.	Computers - software & consulting	5.73	26521.5	1.99%	-0.13%	2.12% (Nov 2025)	1.1% (Oct 2025)	1.64 Cr	-0.12 Cr	Large Cap	51.3
Dr. Reddys Laboratories Ltd.	Pharmaceuticals	3.88	16687.8	1.25%	-0.02%	1.27% (Nov 2025)	1% (Jan 2025)	1.31 Cr	0.00	Other	22.13
Cipla Ltd.	Pharmaceuticals	3.88	16608.6	1.25%	-0.02%	1.3% (Jul 2025)	1.03% (Jan 2025)	1.10 Cr	2.24 L	Large Cap	51.3
Zydus Lifesciences Ltd.	Pharmaceuticals	3.88	16369.7	1.23%	-0.03%	1.28% (May 2025)	0.96% (Jan 2025)	1.79 Cr	4.98 L	Mid Cap	2.18
Tata Consultancy Services Ltd.	Computers - software & consulting	5.73	14923.5	1.12%	0.44%	1.12% (Dec 2025)	0% (Jan 2025)	46.55 L	18.43 L	Large Cap	51.3
Indian Energy Exchange Ltd.	Exchange and data platform	1.48	10839	0.81%	-0.06%	0.94% (Sep 2025)	0.53% (Jul 2025)	8.08 Cr	0.00	Small Cap	2.91
Reliance Industries Ltd.	Refineries & marketing	0.8	10367	0.78%	-0.02%	0.92% (Apr 2025)	0.71% (Sep 2025)	66.02 L	0.00	Large Cap	51.3
Zydus Wellness Ltd.	Packaged foods	0.78	10001.2	0.75%	0.02%	0.84% (Sep 2025)	0% (Jan 2025)	2.20 Cr	0.00	Other	22.13
Balkrishna Industries Ltd.	Tyres & rubber products	0.73	9717.4	0.73%	-0.02%	1.29% (Jan 2025)	0.73% (Dec 2025)	41.89 L	0.00	Mid Cap	2.18
Multi Commodity Exchange Of India Ltd.	Exchange and data platform	1.48	8883.4	0.67%	0.05%	0.67% (Dec 2025)	0.45% (Feb 2025)	7.98 L	0.00	Small Cap	2.91
EID-Parry (India) Ltd.	Other agricultural products	0.48	6394.6	0.48%	0.02%	0.48% (Dec 2025)	0.2% (Feb 2025)	61.80 L	3.37 L	Small Cap	2.91
Bajaj Finance Ltd.	Non banking financial company (nbfc)	0.46	4136.4	0.31%	-0.03%	0.36% (Oct 2025)	0.19% (Aug 2025)	41.92 L	0.00	Other	22.13
Narayana Hrudayalaya Ltd.	Hospital	0.28	3776.3	0.28%	-0.02%	0.39% (Jun 2025)	0.28% (Oct 2025)	19.96 L	0.00	Small Cap	2.91
Central Depository Services (India) Ltd.	Depositories, clearing houses and other intermediaries	0.25	3269.2	0.25%	-0.03%	0.37% (Jun 2025)	0.25% (Dec 2025)	22.65 L	0.00	Small Cap	2.91
# Great Eastern Shipping Co. Ltd.	Shipping	0.14	1871.2	0.14%	0.14%	0.14% (Dec 2025)	0% (Jan 2025)	16.57 L	16.57 L	Small Cap	2.91
- State Bank Of India	Public sector bank	0.22	1843.1	0.14%	0.00%	0.14% (Dec 2025)	0% (Jan 2025)	18.77 L	2.25 k	Large Cap	51.3
Eternal Ltd.	E-retail/ e-commerce	0.13	1794.9	0.13%	-0.02%	0.16% (Oct 2025)	0% (Jan 2025)	64.55 L	0.00	Other	22.13
Jio Financial Services Ltd.	Non banking financial company (nbfc)	0.46	1791.8	0.13%	-0.01%	0.15% (Jul 2025)	0% (Jan 2025)	60.75 L	0.00	Other	22.13
ICRA Ltd.	Ratings	0.13	1746.1	0.13%	-0.01%	0.21% (Jan 2025)	0.13% (Dec 2025)	2.87 L	0.00	Small Cap	2.91
- Hindalco Industries Ltd.	Aluminium	0.12	1650.4	0.12%	0.00%	0.13% (Oct 2025)	0.02% (Jan 2025)	18.61 L	0.00	Large Cap	51.3
Larsen & Toubro Ltd.	Civil construction	0.11	1446.4	0.11%	0.02%	0.11% (Dec 2025)	0.01% (Jan 2025)	3.54 L	68.60 k	Large Cap	51.3
- Titan Company Ltd.	Gems, jewellery and watches	0.1	1349.3	0.10%	0.00%	0.1% (Oct 2025)	0.01% (Mar 2025)	3.33 L	0.00	Large Cap	51.3
Sun Pharmaceutical Industries Ltd.	Pharmaceuticals	3.88	1255.6	0.09%	-0.02%	0.11% (Nov 2025)	0% (Jan 2025)	7.30 L	-0.60 L	Large Cap	51.3
Bharat Electronics Ltd.	Aerospace & defense	0.13	1222.6	0.09%	-0.01%	0.1% (Oct 2025)	0.03% (Jul 2025)	30.59 L	0.00	Mid Cap	2.18
Tata Steel Ltd.	Iron & steel products	0.12	1136	0.09%	0.01%	0.09% (Oct 2025)	0% (Feb 2025)	63.09 L	0.00	Other	22.13
- Maharashtra Scooters Ltd.	Investment company	0.09	1140.1	0.09%	0.00%	0.12% (Sep 2025)	0.08% (Feb 2025)	80.16 k	0.00	Small Cap	2.91
Indusind Bank Ltd.	Private sector bank	20.42	1116.1	0.08%	-0.01%	0.09% (Nov 2025)	0.01% (Jul 2025)	12.92 L	0.00	Large Cap	51.3
- Punjab National Bank	Public sector bank	0.22	848.3	0.06%	0.00%	0.06% (Oct 2025)	0.01% (Aug 2025)	68.64 L	8.00 L	Large Cap	51.3
- DLF Ltd.	Residential, commercial projects	0.06	795.1	0.06%	0.00%	0.07% (Oct 2025)	0.01% (Jan 2025)	11.57 L	0.00	Large Cap	51.3
- Vedanta Ltd.	Diversified metals	0.05	671.4	0.05%	0.00%	0.05% (Nov 2025)	0% (Jan 2025)	11.11 L	0.00	Large Cap	51.3
- Bajaj Finserv Ltd	Holding company	4.57	649.7	0.05%	0.00%	0.05% (Nov 2025)	0.01% (Jun 2025)	3.19 L	0.00	Other	22.13
- Hindustan Aeronautics Ltd.	Aerospace & defense	0.13	561.5	0.04%	0.00%	0.05% (Oct 2025)	0% (Jan 2025)	1.28 L	0.00	Other	22.13
- Varun Beverages Ltd.	Other beverages	0.04	493.8	0.04%	0.00%	0.05% (Oct 2025)	0% (Jan 2025)	10.08 L	425.00	Other	22.13
- Trent Limited	Speciality retail	0.03	436.5	0.03%	0.00%	0.04% (Oct 2025)	0% (Jan 2025)	1.02 L	0.00	Mid Cap	2.18
- Lupin Ltd.	Pharmaceuticals	3.88	391.8	0.03%	0.00%	0.03% (Nov 2025)	0% (Jan 2025)	1.86 L	0.00	Large Cap	51.3
- Nestle India Ltd.	Packaged foods	0.78	363.9	0.03%	0.00%	0.03% (Nov 2025)	0% (Jan 2025)	2.83 L	0.00	Other	22.13
# Bharti Airtel Ltd. - Partly Paid	Telecom - cellular & fixed line services	3.37	336.6	0.03%	0.03%	0.03% (Dec 2025)	0% (Jan 2025)	1.99 L	1.99 L	Other	22.13
Indus Towers Ltd.	Telecom - infrastructure	0.02	297.7	0.02%	-0.01%	0.06% (Oct 2025)	0% (Apr 2025)	7.11 L	-3.76 L	Large Cap	51.3
- Grasim Industries Limited	Cement & cement products	0.02	331	0.02%	0.00%	0.03% (Oct 2025)	0% (Jan 2025)	1.17 L	750.00	Large Cap	51.3
- IDFC First Bank Ltd.	Private sector bank	20.42	319.2	0.02%	0.00%	0.02% (Oct 2025)	0% (Jan 2025)	37.29 L	0.00	Mid Cap	2.18
LIC Housing Finance Ltd.	Housing finance company	0.02	318.9	0.02%	-0.01%	0.03% (Nov 2025)	0% (Jan 2025)	5.91 L	0.00	Mid Cap	2.18
- Bandhan Bank Ltd.	Private sector bank	20.42	269.8	0.02%	0.00%	0.03% (Sep 2025)	0.01% (Jan 2025)	18.50 L	0.00	Large Cap	51.3
- GMR Airports Ltd.	Airport & airport services	0.02	267.9	0.02%	0.00%	0.02% (Oct 2025)	0.01% (Apr 2025)	25.67 L	0.00	Small Cap	2.91
- Divis Laboratories Ltd.	Pharmaceuticals	3.88	253.1	0.02%	0.00%	0.02% (May 2025)	0% (Jan 2025)	39.60 k	0.00	Large Cap	51.3
- J S W Steel Ltd.	Iron & steel products	0.12	242.2	0.02%	0.00%	0.02% (Nov 2025)	0% (Jan 2025)	2.08 L	0.00	Large Cap	51.3
- Bank Of Baroda	Public sector bank	0.22	238.9	0.02%	0.00%	0.02% (Dec 2025)	0% (Jan 2025)	8.07 L	-2.05 L	Large Cap	51.3
Tech Mahindra Ltd.	Computers - software & consulting	5.73	212.9	0.02%	-0.01%	0.03% (Oct 2025)	0% (Jan 2025)	1.34 L	-1.15 L	Large Cap	51.3
- Oil & Natural Gas Corporation Ltd.	Oil exploration & production	0.02	205.5	0.02%	0.00%	0.05% (May 2025)	0% (Jan 2025)	8.55 L	-0.16 L	Large Cap	51.3
# Biocon Ltd.	Pharmaceuticals	3.88	197	0.01%	0.01%	0.01% (May 2025)	0% (Jan 2025)	5.00 L	5.00 L	Mid Cap	2.18
- Tata Consumer Products Ltd.	Tea & coffee	0.01	184.9	0.01%	0.00%	0.02% (Jun 2025)	0% (Jan 2025)	1.55 L	0.00	Mid Cap	2.18
- Hindustan Petroleum Corporation Ltd.	Refineries & marketing	0.8	167.8	0.01%	0.00%	0.02% (Sep 2025)	0% (Jan 2025)	3.36 L	0.00	Large Cap	51.3
- Eicher Motors Ltd.	2/3 wheelers	0.01	156.5	0.01%	0.00%	0.01% (Aug 2025)	0% (Jan 2025)	21.40 k	50.00	Other	22.13
- Indian Oil Corporation Ltd.	Refineries & marketing	0.8	135.5	0.01%	0.00%	0.01% (Sep 2025)	0% (Jan 2025)	8.14 L	0.00	Large Cap	51.3
- Shriram Finance Ltd.	Non banking financial company (nbfc)	0.46	126.6	0.01%	0.00%	0.01% (Sep 2025)	0% (Jan 2025)	1.27 L	0.00	Other	22.13
- NMDC LTD	Industrial minerals	0.01	124.6	0.01%	0.00%	0.01% (Jul 2025)	0% (Jan 2025)	14.99 L	0.00	Mid Cap	2.18
# CG Power and Industrial Solutions Ltd.	Heavy electrical equipment	0.02	115.7	0.01%	0.01%	0.01% (Dec 2025)	0% (Jan 2025)	1.79 L	1.79 L	Small Cap	2.91
- Indian Hotels Company Limited	Hotels & resorts	0.01	108.6	0.01%	0.00%	0.01% (Nov 2025)	0% (Jan 2025)	1.47 L	0.00	Mid Cap	2.18
- Steel Authority Of India Ltd.	Iron & steel products	0.12	100.2	0.01%	0.00%	0.05% (Sep 2025)	0% (Jan 2025)	6.82 L	0.00	Mid Cap	2.18
- IIFL Finance Ltd.	Non banking financial company (nbfc)	0.46	74.5	0.01%	0.00%	0.01% (Nov 2025)	0% (Jan 2025)	1.22 L	0.00	Small Cap	2.91
- Indian Railway Catering and Tourism Corporation Ltd.	Tour, travel related services	0.01	69.5	0.01%	0.00%	0.01% (Apr 2025)	0% (Jan 2025)	1.02 L	0.00	Other	22.13
- Bharat Heavy Electricals Ltd.	Heavy electrical equipment	0.02	67.9	0.01%	0.00%	0.02% (Oct 2025)	0% (Feb 2025)	2.36 L	0.00	Mid Cap	2.18
NESCO Ltd.	Diversified commercial services	0.01	185.8	0.01%	-0.01%	0.02% (Oct 2025)	0% (Jan 2025)	1.52 L	0.00	Small Cap	2.91
- Swaraj Engines Ltd.	Compressors, pumps & diesel engines	0.01	169.2	0.01%	0.00%	0.02% (Aug 2025)	0.01% (Feb 2025)	47.29 k	0.00	Small Cap	2.91
United Spirits Ltd.	Breweries & distilleries	0	65.8	0.00%	-0.01%	0.01% (Sep 2025)	0% (Mar 2025)	45.60 k	0.00	Large Cap	51.3
- PNB Housing Finance Ltd.	Housing finance company	0.02	64.9	0.00%	0.00%	0.01% (Oct 2025)	0% (Jan 2025)	68.25 k	0.00	Mid Cap	2.18
- Tata Power Co. Ltd.	Integrated power utilities	0	55	0.00%	0.00%	0.01% (Oct 2025)	0% (Jan 2025)	1.45 L	0.00	Mid Cap	2.18
- Aurobindo Pharma Ltd.	Pharmaceuticals	3.88	37.7	0.00%	0.00%	0% (Apr 2025)	0% (Jan 2025)	31.90 k	0.00	Large Cap	51.3
- GAIL (India) Ltd.	Gas transmission/marketing	0	29.3	0.00%	0.00%	0.01% (Jul 2025)	0% (Jan 2025)	1.70 L	0.00	Large Cap	51.3
- Polycab India Limited	Cables - electricals	0	28.6	0.00%	0.00%	0.01% (Mar 2025)	0% (Jan 2025)	3.75 k	0.00	Other	22.13
- Dabur India Ltd.	Personal care	0	27.7	0.00%	0.00%	0% (Dec 2025)	0% (Jan 2025)	55.00 k	0.00	Large Cap	51.3
- Godrej Properties Ltd.	Residential, commercial projects	0.06	17.1	0.00%	0.00%	0% (Dec 2025)	0% (Jan 2025)	8.53 k	0.00	Mid Cap	2.18
- Asian Paints (india) Ltd.	Paints	0	15.2	0.00%	0.00%	0% (Nov 2025)	0% (Jan 2025)	5.50 k	-4.75 k	Large Cap	51.3
- Jindal Steel Ltd.	Iron & steel products	0.12	6.6	0.00%	0.00%	0% (Jul 2025)	0% (Feb 2025)	6.25 k	0.00	Mid Cap	2.18
- Lodha Developers Ltd.	Residential, commercial projects	0.06	4.8	0.00%	0.00%	0% (Dec 2025)	0% (Jan 2025)	4.50 k	4.50 k	Other	22.13
- Power Finance Corporation Ltd.	Financial institution	0	48.5	0.00%	0.00%	0% (Sep 2025)	0% (Jan 2025)	1.37 L	0.00	Mid Cap	2.18
Federal Bank Ltd.	Private sector bank	20.42	47.7	0.00%	0.00%	-	-	-	-	Mid Cap	2.18
National Thermal Power Corporation Ltd.	Power generation		566.1	0.00%	-0.04%	-	-	-	-	Large Cap	51.3

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

New Stocks added in Portfolio (in 1 month period ending 31st Dec,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
# Great Eastern Shipping Co. Ltd.	Shipping	1871.2	0.14%	0.14%	0.14% (Dec 2025)	0% (Jan 2025)	16.57 L	1657424
# Biocon Ltd.	Pharmaceuticals	197	0.01%	0.01%	0.01% (May 2025)	0% (Jan 2025)	5.00 L	500000
# CG Power and Industrial Solutions Ltd.	Heavy electrical equipment	115.7	0.01%	0.01%	0.01% (Dec 2025)	0% (Jan 2025)	1.79 L	178500
# Bharti Airtel Ltd. - Partly Paid	Telecom - cellular & fixed line services	336.6	0.03%	0.03%	0.03% (Dec 2025)	0% (Jan 2025)	1.99 L	199025
- Lodha Developers Ltd.	Residential, commercial projects	4.8	0.00%	0.00%	0% (Dec 2025)	0% (Jan 2025)	4.50 k	4500

Stocks removed from Portfolio (in 1 month period ending 31st Dec,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
- Federal Bank Ltd.	Private sector bank	47.7	0.00%	0.00%	0.01% (Sep 2025)	0% (Jan 2025)	0.00	-185000
National Thermal Power Corporation Ltd.	Power generation	566.1	0.00%	-0.04%	0.06% (May 2025)	0% (Jan 2025)	0.00	-1734000

Trend in stock holdings (Top 15 Holding)

Stock	Dec 2025	Nov 2025	Oct 2025	Sep 2025	Aug 2025	Jul 2025	Jun 2025	May 2025	Apr 2025	Mar 2025	Feb 2025	Jan 2025	Dec 2024
HDFC Bank Ltd.	8.09%	8.03%	8.02%	8.08%	7.93%	7.99%	8.06%	8.11%	8.36%	8.38%	8.43%	8.11%	8.04%
Bajaj Holdings & Investment Ltd.	4.52%	4.71%	5.20%	5.44%	5.90%	6.56%	6.93%	6.87%	6.46%	7.10%	7.00%	6.85%	7.22%
Power Grid Corporation of India Ltd.	6.06%	5.91%	6.00%	5.99%	5.89%	5.93%	6.09%	5.83%	6.04%	5.99%	5.52%	6.24%	6.54%
Coal India Ltd.	4.85%	4.70%	5.01%	5.28%	5.28%	5.38%	5.75%	5.95%	5.80%	6.01%	5.99%	6.15%	5.76%
ICICI Bank Ltd.	4.97%	4.85%	4.63%	4.75%	4.95%	5.18%	4.78%	4.87%	5.07%	5.05%	4.79%	4.89%	4.93%
ITC Limited	4.49%	4.51%	4.64%	4.55%	4.61%	4.44%	4.43%	4.40%	4.55%	4.44%	4.54%	4.94%	5.47%
Kotak Mahindra Bank Ltd.	4.07%	3.98%	4.04%	4.03%	3.99%	3.84%	4.01%	3.95%	4.43%	4.59%	4.27%	4.19%	3.41%
Maruti Suzuki India Ltd.	3.44%	3.37%	3.47%	3.61%	3.53%	3.36%	3.39%	3.58%	3.76%	3.72%	4.10%	4.14%	3.77%
Mahindra & Mahindra Ltd.	3.63%	3.60%	3.45%	3.53%	3.43%	3.49%	3.56%	3.51%	3.28%	2.97%	2.96%	3.11%	1.99%
Axis Bank Ltd.	3.17%	3.28%	3.26%	3.14%	2.97%	2.84%	2.96%	3.13%	3.28%	3.21%	3.15%	3.00%	3.32%
HCL Technologies Limited	2.60%	2.48%	2.22%	2.16%	2.37%	2.42%	2.91%	2.89%	2.98%	3.19%	3.35%	3.60%	4.10%
Bharti Airtel Ltd.	3.34%	3.43%	3.46%	3.32%	3.48%	3.58%	3.81%	2.11%	0.15%	0.14%	0.05%	0.04%	0.04%
Infosys Ltd.	1.99%	2.12%	1.10%	1.12%	1.19%	1.24%	1.35%	1.40%	1.42%	1.56%	1.78%	1.95%	2.00%
Dr. Reddys Laboratories Ltd.	1.25%	1.27%	1.22%	1.24%	1.27%	1.26%	1.20%	1.25%	1.25%	1.24%	1.26%	1.00%	1.06%
Cipla Ltd.	1.25%	1.27%	1.21%	1.25%	1.24%	1.30%	1.25%	1.25%	1.26%	1.23%	1.24%	1.03%	0.92%

No of Debt Holding 64 (Category Avg - 2.63) | Modified Duration 0.00 Years (Category Avg - - --)| Yield to Maturity - -- (Category Avg - 0.00%)

Portfolio Summary (as on 31st Dec,2025)

Security Type	% Weight	Category Average
GOI	0.00%	0.02%
CD	10.45%	0.30%
T-Bills	0.55%	0.19%
NCD & Bonds	0.00%	0.17%
CP	1.08%	0.11%

Category - Flexi Cap Fund

Security Type	% Weight	Category Average
Government Backed	0.55%	0.21%
Low Risk	11.53%	0.58%
Moderate Risk	0.00%	0.00%
High Risk	0.00%	0.00%
Very High Risk	0.00%	0.00%
Others	0.00%	0.00%

Category - Flexi Cap Fund

Debt holding in Portfolio (as on 31st Dec,2025)

Instrument	Type	Sector	Rating	Rating Agency	Value (Mn)	% of Total Holding	Quantity
Bond - Kotak Mahindra Bank Ltd.	CD	Private sector bank	P1+	CRISIL	6685.27	0.50%	14.00 k
Bond - Axis Bank Ltd.	CD	Private sector bank	P1+	CRISIL	6251.70	0.47%	13.00 k
Bond - Bank Of Baroda	CD	Public sector bank	F1+	FITCH	6214.27	0.47%	13.00 k
Bond - Canara Bank	CD	Public sector bank	P1+	CRISIL	5835.66	0.44%	12.00 k
Bond - Union Bank Of India	CD	Public sector bank	A1+	ICRA	5578.82	0.42%	11.50 k
Bond - HDFC Bank Ltd.	CD	Private sector bank	P1+	CRISIL	4783.68	0.36%	10.00 k
Bond - National Bank for Agriculture & Rural Development	CD	Financial institution	P1+	CRISIL	4777.77	0.36%	10.00 k
Bond - Kotak Mahindra Bank Ltd.	CD	Private sector bank	P1+	CRISIL	4702.66	0.35%	10.00 k
Bond - Small Industries Development Bank Of India	CD	Financial institution	P1+	CRISIL	4648.93	0.35%	9.50 k
Bond - National Bank for Agriculture & Rural Development	CP	Financial institution	P1+	CRISIL	4365.62	0.33%	9.00 k
Bond - Canara Bank	CD	Public sector bank	P1+	CRISIL	4231.44	0.32%	9.00 k
Bond - Punjab National Bank	CD	Public sector bank	P1+	CRISIL	3950.08	0.30%	8.00 k
Bond - HDFC Bank Ltd.	CD	Private sector bank	P1+	CRISIL	3882.20	0.29%	8.00 k
Bond - Canara Bank	CD	Public sector bank	P1+	CRISIL	3785.09	0.28%	8.00 k
Bond - Indian Bank	CD	Public sector bank	P1+	CRISIL	3404.14	0.26%	7.00 k
Bond - Union Bank Of India	CD	Public sector bank	A1+	ICRA	3403.33	0.26%	7.00 k
Bond - T-Bill	T-Bills	Other			3355.50	0.25%	3.50 Cr
Bond - National Bank for Agriculture & Rural Development	CD	Financial institution	P1+	CRISIL	3238.57	0.24%	6.50 k
Bond - Bank Of Baroda	CD	Public sector bank	F1+	FITCH	3136.53	0.24%	6.50 k
Bond - Indian Bank	CD	Public sector bank	P1+	CRISIL	2969.26	0.22%	6.00 k
Bond - Axis Bank Ltd.	CD	Private sector bank	P1+	CRISIL	2917.88	0.22%	6.00 k
Bond - Indian Bank	CD	Public sector bank	P1+	CRISIL	2893.01	0.22%	6.00 k
Bond - Bajaj Finance Ltd.	CP	Non banking financial company (nbfc)	P1+	CRISIL	2909.89	0.22%	6.00 k
Bond - Small Industries Development Bank Of India	CD	Financial institution	P1+	CRISIL	2863.02	0.21%	6.00 k
Bond - Small Industries Development Bank Of India	CD	Financial institution	P1+	CRISIL	2851.28	0.21%	6.00 k
Bond - Indian Bank	CD	Public sector bank	P1+	CRISIL	2844.77	0.21%	6.00 k
Bond - Union Bank Of India	CD	Public sector bank	A1+	ICRA	2468.39	0.19%	5.00 k
Bond - Bank Of Baroda	CD	Public sector bank	F1+	FITCH	2377.14	0.18%	5.00 k
Bond - National Bank for Agriculture & Rural Development	CD	Financial institution	P1+	CRISIL	2242.89	0.17%	4.50 k
Bond - HDFC Bank Ltd.	CD	Private sector bank	P1+	CRISIL	2197.25	0.16%	4.50 k
Bond - Punjab National Bank	CD	Public sector bank	P1+	CRISIL	1997.67	0.15%	4.00 k
Bond - Indian Bank	CD	Public sector bank	P1+	CRISIL	1957.56	0.15%	4.00 k
Bond - Kotak Mahindra Bank Ltd.	CD	Private sector bank	P1+	CRISIL	1951.38	0.15%	4.00 k
Bond - Axis Bank Ltd.	CD	Private sector bank	P1+	CRISIL	1944.93	0.15%	4.00 k
Bond - Bajaj Finance Ltd.	CP	Non banking financial company (nbfc)	P1+	CRISIL	1954.96	0.15%	4.00 k
Bond - Bajaj Finance Ltd.	CP	Non banking financial company (nbfc)	P1+	CRISIL	1947.94	0.15%	4.00 k
Bond - T-Bill	T-Bills	Other			1992.04	0.15%	2.00 Cr
Bond - Bank Of Baroda	CD	Public sector bank	F1+	FITCH	1882.44	0.14%	4.00 k
Bond - Punjab National Bank	CD	Public sector bank	P1+	CRISIL	1881.43	0.14%	4.00 k
Bond - HDFC Bank Ltd.	CD	Private sector bank	P1+	CRISIL	1727.07	0.13%	3.50 k
Bond - Punjab National Bank	CD	Public sector bank	P1+	CRISIL	1727.06	0.13%	3.50 k
Bond - Axis Bank Ltd.	CD	Private sector bank	P1+	CRISIL	1698.06	0.13%	3.50 k
Bond - Bank Of Baroda	CD	Public sector bank	F1+	FITCH	1652.72	0.12%	3.50 k
Bond - Small Industries Development Bank Of India	CD	Financial institution	PR1+	CARE	1644.93	0.12%	3.50 k
Bond - Canara Bank	CD	Public sector bank	P1+	CRISIL	1461.14	0.11%	3.00 k
Bond - Small Industries Development Bank Of India	CD	Financial institution	PR1+	CARE	1450.69	0.11%	3.00 k
Bond - Kotak Mahindra Bank Ltd.	CD	Private sector bank	P1+	CRISIL	1240.35	0.09%	2.50 k
Bond - ICICI Securities Ltd.	CP	Stockbroking & allied	P1+	CRISIL	1212.48	0.09%	2.50 k
Bond - T-Bill	T-Bills	Other			1066.63	0.08%	1.10 Cr
Bond - Punjab National Bank	CD	Public sector bank	PR1+	CARE	997.53	0.07%	2.00 k
Bond - Bank Of Baroda	CD	Public sector bank	F1+	FITCH	975.52	0.07%	2.00 k
Bond - HDFC Bank Ltd.	CD	Private sector bank	PR1+	CARE	973.85	0.07%	2.00 k
Bond - HDFC Bank Ltd.	CD	Private sector bank	PR1+	CARE	972.53	0.07%	2.00 k
Bond - Axis Bank Ltd.	CD	Private sector bank	P1+	CRISIL	961.97	0.07%	2.00 k
Bond - HDFC Bank Ltd.	CD	Private sector bank	P1+	CRISIL	945.87	0.07%	2.00 k
Bond - Small Industries Development Bank Of India	CD	Financial institution	PR1+	CARE	945.82	0.07%	2.00 k
Bond - T-Bill	T-Bills	Other			984.84	0.07%	1.00 Cr
Bond - Kotak Securities Ltd.	CP	Stockbroking & allied	A1+	ICRA	992.42	0.07%	2.00 k
Bond - Bajaj Finance Ltd.	CP	Non banking financial company (nbfc)	P1+	CRISIL	977.30	0.07%	2.00 k
Bond - Punjab National Bank	CD	Public sector bank	P1+	CRISIL	743.26	0.06%	1.50 k
Bond - Punjab National Bank	CD	Public sector bank	P1+	CRISIL	740.88	0.06%	1.50 k
Bond - Indian Bank	CD	Public sector bank	P1+	CRISIL	499.42	0.04%	1.00 k
Bond - Canara Bank	CD	Public sector bank	P1+	CRISIL	495.98	0.04%	1.00 k
Bond - Axis Bank Ltd.	CD	Private sector bank	P1+	CRISIL	471.76	0.04%	1.00 k

Name	Type of Instrument	Weight (%)
TREPS	TREPS	7.89%
Embassy Office Parks Reit	InvITs	0.63%
Brookfield India Real Estate Trust	InvITs	0.62%
MF Units	MF Units	0.62%
Mindspace Business Parks REIT	InvITs	0.03%
Net Receivables	Net Receivables	-0.39%