SBI Small Cap 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 : Small Cap Fund

Equity Holding : 89.61% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 89.61%

No of Stocks : 71 (Category Avg - 88.53) | Large Cap Investments : 0%| Mid Cap Investments : 10.11% | Small Cap Investments : 36.71% | Other : 42.79%

Portfolio Summary (as on 31st Dec,2025)

Particulars	This Scheme	Category
No. of Stocks	71	88.44
Top 5 Stock Weight	15.35%	15.02%
Top 10 Stock Weight	26.79%	25.81%
Top 3 Sector Weight	19.01%	20.48%

Category - Small Cap Fund

Particulars	This Scheme	Category
Average mcap (Cr)	3150.87	10003.61
Holdings in large cap stocks	0%	2.93%
Holdings in mid cap stocks	10.11%	9.85%
Holdings in small cap stocks	36.71%	44.1%

Category - Small 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
# Ather Energy Ltd.	2/3 wheelers	15168.2	4.18%	0.00%	3.98% (Nov 2025)	0% (Dec 2024)	2.01 Cr	0.00
# City Union Bank Ltd.	Private sector bank	12091.4	3.33%	0.00%	3.11% (Nov 2025)	2.12% (Mar 2025)	4.16 Cr	-0.85 L
# EID-Parry (India) Ltd.	Other agricultural products	9647.6	2.66%	0.00%	3.23% (Jul 2025)	2.18% (Feb 2025)	93.24 L	0.00
# Kalpataru Power Transmission Ltd.	Civil construction	9499	2.62%	0.00%	3.06% (Dec 2024)	2.42% (Apr 2025)	79.00 L	0.00
# SBFC Finance Ltd.	Non banking financial company (nbfc)	9293.6	2.56%	0.00%	2.96% (May 2025)	2.42% (Dec 2024)	8.93 Cr	0.00
# Navin Flourine International Ltd.	Commodity chemicals	8880	2.45%	0.00%	2.37% (Nov 2025)	0.68% (Dec 2024)	15.00 L	0.00
# Doms Industries Ltd.	Stationary	8630.8	2.38%	0.00%	3.08% (Mar 2025)	2.17% (Jul 2025)	33.00 L	0.00
# Chalet Hotels Ltd.	Hotels & resorts	8377.1	2.31%	0.00%	2.83% (Dec 2024)	2.37% (Nov 2025)	96.23 L	-0.94 L
# Belrise Industries Ltd.	Auto components & equipments	8070.1	2.23%	2.23%	0% (Jan 2026)	0% (Jan 2026)	4.35 Cr	4.35 Cr
# Krishna Institute of Medical Sciences Ltd.	Hospital	7500.4	2.07%	0.00%	2.6% (Jul 2025)	2.2% (Dec 2024)	1.23 Cr	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

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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
# Ather Energy Ltd.	2/3 wheelers	4.18	15168.2	4.18%	0.00%	3.98% (Nov 2025)	0% (Dec 2024)	2.01 Cr	0.00	Other	42.79
# City Union Bank Ltd.	Private sector bank	5.41	12091.4	3.33%	0.00%	3.11% (Nov 2025)	2.12% (Mar 2025)	4.16 Cr	-0.85 L	Mid Cap	10.11
# EID-Parry (India) Ltd.	Other agricultural products	2.66	9647.6	2.66%	0.00%	3.23% (Jul 2025)	2.18% (Feb 2025)	93.24 L	0.00	Small Cap	36.71
# Kalpataru Power Transmission Ltd.	Civil construction	6.79	9499	2.62%	0.00%	3.06% (Dec 2024)	2.42% (Apr 2025)	79.00 L	0.00	Small Cap	36.71
# SBFC Finance Ltd.	Non banking financial company (nbfc)	2.56	9293.6	2.56%	0.00%	2.96% (May 2025)	2.42% (Dec 2024)	8.93 Cr	0.00	Other	42.79
# Navin Flourine International Ltd.	Commodity chemicals	5.64	8880	2.45%	0.00%	2.37% (Nov 2025)	0.68% (Dec 2024)	15.00 L	0.00	Small Cap	36.71
# Doms Industries Ltd.	Stationary	2.38	8630.8	2.38%	0.00%	3.08% (Mar 2025)	2.17% (Jul 2025)	33.00 L	0.00	Other	42.79
# Chalet Hotels Ltd.	Hotels & resorts	3.84	8377.1	2.31%	0.00%	2.83% (Dec 2024)	2.37% (Nov 2025)	96.23 L	-0.94 L	Other	42.79
# Belrise Industries Ltd.	Auto components & equipments	6.58	8070.1	2.23%	2.23%	0% (Jan 2026)	0% (Jan 2026)	4.35 Cr	4.35 Cr	Other	42.79
# Krishna Institute of Medical Sciences Ltd.	Hospital	2.07	7500.4	2.07%	0.00%	2.6% (Jul 2025)	2.2% (Dec 2024)	1.23 Cr	0.00	Other	42.79
# K.P.R. Mill Ltd.	Other textile products	2	7256.5	2.00%	0.00%	2.55% (May 2025)	2.16% (Aug 2025)	77.00 L	0.00	Other	42.79
# Sundram Fasteners Ltd.	Auto components & equipments	6.58	7231.9	1.99%	0.00%	2.03% (May 2025)	0% (Dec 2024)	77.38 L	0.00	Mid Cap	10.11
# Cholamandalam Financial Holdings Ltd.	Investment company	1.96	7121.5	1.96%	0.00%	2.38% (Jun 2025)	1.64% (Dec 2024)	39.28 L	0.00	Small Cap	36.71
# Kajaria Ceramics Ltd.	Ceramics	1.87	6779.5	1.87%	0.00%	2.4% (Aug 2025)	0% (Dec 2024)	70.00 L	0.00	Small Cap	36.71
# Deepak Fertilisers & Petrochemicals Corp. Ltd.	Commodity chemicals	5.64	6771.7	1.87%	0.00%	2.52% (Jun 2025)	0% (Dec 2024)	52.61 L	0.00	Small Cap	36.71
# Anand Rathi Wealth Services Ltd.	Financial products distributor	1.8	6536	1.80%	0.00%	1.25% (Oct 2025)	0.8% (Apr 2025)	21.00 L	6.03 L	Other	42.79
# Afcons Infrastructure Ltd.	Civil construction	6.79	6169.2	1.70%	0.00%	1.78% (Nov 2025)	0% (Dec 2024)	1.59 Cr	0.00	Other	42.79
# Pine Labs Ltd.	Financial technology (fintech)	1.66	6031	1.66%	0.00%	1.39% (Nov 2025)	0% (Dec 2024)	2.52 Cr	50.73 L	Other	42.79
# Finolex Industries Ltd.	Plastic products - industrial	1.66	6020	1.66%	0.00%	2.6% (Dec 2024)	1.7% (Nov 2025)	3.46 Cr	0.00	Other	42.79
# Blue Star Ltd.	Household appliances	4.93	5711.3	1.57%	0.00%	3.53% (Dec 2024)	1.49% (May 2025)	33.00 L	0.00	Small Cap	36.71
# V-Guard Industries Ltd.	Household appliances	4.93	5576	1.54%	0.00%	2.14% (Dec 2024)	1.61% (Nov 2025)	1.70 Cr	0.00	Small Cap	36.71
# Lemon Tree Hotels Ltd.	Hotels & resorts	3.84	5544.7	1.53%	0.00%	2.28% (Dec 2024)	1.37% (Jun 2025)	3.48 Cr	-0.80 L	Small Cap	36.71
# Esab India Ltd.	Other industrial products	1.51	5481.9	1.51%	0.00%	1.58% (Dec 2024)	1.2% (Oct 2025)	9.00 L	0.00	Small Cap	36.71
# Aptus Value Housing Finance India Ltd.	Housing finance company	1.5	5451.6	1.50%	0.00%	2.11% (Feb 2025)	1.5% (Nov 2025)	1.95 Cr	0.00	Other	42.79
# Fairchem Speciality Ltd.	Specialty chemicals	3.23	5328.4	1.47%	1.47%	0% (Jan 2026)	0% (Jan 2026)	19.00 L	19.00 L	Small Cap	36.71
# Cms Info Systems Ltd.	Diversified commercial services	1.4	5092.5	1.40%	0.00%	2.41% (Feb 2025)	1.47% (Nov 2025)	1.50 Cr	0.00	Other	42.79
# Ratnamani Metals & Tubes Ltd.	Iron & steel products	1.4	5076.9	1.40%	0.00%	2.02% (Dec 2024)	1.39% (Nov 2025)	21.33 L	0.00	Small Cap	36.71
# CSB Bank Ltd.	Private sector bank	5.41	5050.1	1.39%	0.00%	1.3% (Jul 2025)	1.03% (Dec 2024)	1.10 Cr	0.00	Other	42.79
# Balrampur Chini Mills Ltd.	Sugar	1.35	4888.4	1.35%	0.00%	1.95% (Mar 2025)	1.36% (Nov 2025)	1.10 Cr	0.00	Small Cap	36.71
# Relaxo Footwears Ltd.	Footwear	1.32	4771.9	1.32%	0.00%	1.39% (Oct 2025)	0.22% (Jun 2025)	1.18 Cr	0.00	Mid Cap	10.11
# Elgi Equipments Ltd.	Compressors, pumps & diesel engines	1.31	4737.5	1.31%	0.00%	1.73% (Jan 2025)	1.34% (Aug 2025)	1.00 Cr	0.00	Small Cap	36.71
# Dodla Dairy Ltd.	Dairy products	2.06	4593.4	1.27%	0.00%	1.48% (Jun 2025)	1.2% (Apr 2025)	36.72 L	0.00	Other	42.79
# Triveni Turbine Ltd.	Heavy electrical equipment	1.26	4587.5	1.26%	0.00%	2.18% (Dec 2024)	1.43% (Oct 2025)	85.23 L	-0.13 Cr	Small Cap	36.71
# Star Health and Allied Insurance Co Ltd.	General insurance	1.22	4413.5	1.22%	0.00%	1.3% (Nov 2025)	0% (Dec 2024)	97.00 L	0.00	Other	42.79
# Ahluwalia Contracts (India) Ltd.	Civil construction	6.79	4412.7	1.22%	0.00%	1.38% (Dec 2024)	1.02% (Feb 2025)	45.00 L	0.00	Small Cap	36.71
# Happy Forgings Ltd.	Castings & forgings	1.17	4251.7	1.17%	0.00%	1.22% (Jan 2025)	0% (Dec 2024)	37.00 L	0.00	Other	42.79
# Carborundum Universal Ltd.	Abrasives & bearings	1.17	4228	1.17%	0.00%	1.89% (Dec 2024)	1.17% (Nov 2025)	49.40 L	0.00	Small Cap	36.71
# Thangamayil Jewellery Ltd.	Gems, jewellery and watches	1.15	4163	1.15%	0.00%	1.16% (Nov 2025)	0.67% (Dec 2024)	12.92 L	0.00	Small Cap	36.71
# Brigade Enterprises Ltd.	Residential, commercial projects	1.08	3924.9	1.08%	0.00%	1.66% (Jan 2025)	1.09% (Nov 2025)	44.35 L	0.00	Small Cap	36.71
# Westlife Development Ltd.	Restaurants	1.08	3923.9	1.08%	0.00%	1.68% (Feb 2025)	1.09% (Nov 2025)	70.00 L	0.00	Small Cap	36.71
# WABCO India Ltd.	Auto components & equipments	6.58	3856.4	1.06%	0.00%	1.09% (Mar 2025)	0.87% (Oct 2025)	2.59 L	0.00	Mid Cap	10.11
# TTK Prestige Ltd.	Household appliances	4.93	3602.1	0.99%	0.00%	1.41% (Dec 2024)	1.02% (Jun 2025)	58.38 L	0.00	Other	42.79
# HEG Ltd.	Electrodes & refractories	0.98	3568.5	0.98%	0.00%	1.12% (Jul 2025)	0.87% (Feb 2025)	57.20 L	-0.12 Cr	Other	42.79
# Honeywell Automation India Ltd.	Industrial products	0.93	3359.3	0.93%	0.93%	0% (Jan 2026)	0% (Jan 2026)	1.02 L	1.02 L	Mid Cap	10.11
# Happiest Minds Technologies Ltd.	Computers - software & consulting	0.89	3222.8	0.89%	0.00%	1.35% (Mar 2025)	0% (Dec 2024)	70.00 L	0.00	Other	42.79
# Indiamart Intermesh Ltd.	Internet & catalogue retail	0.87	3169.1	0.87%	0.00%	1.14% (Dec 2024)	0.91% (Nov 2025)	14.25 L	-9.82 k	Other	42.79
# Hawkins Cookers Ltd.	Household appliances	4.93	2998.2	0.83%	0.00%	1% (Dec 2024)	0.83% (Nov 2025)	3.70 L	0.00	Small Cap	36.71
# Sansera Engineering Ltd.	Auto components & equipments	6.58	2967.7	0.82%	0.00%	0.85% (Nov 2025)	0.6% (Apr 2025)	17.70 L	0.00	Other	42.79
# Hatsun Agro Products Ltd.	Dairy products	2.06	2874.5	0.79%	0.00%	1.01% (Feb 2025)	0.74% (Aug 2025)	29.42 L	0.00	Mid Cap	10.11
# Chemplast Sanmar Ltd.	Commodity chemicals	5.64	2873.2	0.79%	0.00%	1.67% (Jan 2025)	0.86% (Nov 2025)	1.10 Cr	0.00	Other	42.79
# Indian Energy Exchange Ltd.	Exchange and data platform	0.79	2852.6	0.79%	0.00%	1.29% (Apr 2025)	0.81% (Oct 2025)	2.13 Cr	-2.56 L	Small Cap	36.71
# Fine Organic Industries Ltd.	Specialty chemicals	3.23	2742.1	0.76%	0.00%	0.99% (Jul 2025)	0.8% (Oct 2025)	6.66 L	0.00	Small Cap	36.71
# G R Infraprojects Ltd.	Civil construction	6.79	2696.5	0.74%	0.00%	1.19% (Dec 2024)	0.8% (Nov 2025)	27.00 L	0.00	Other	42.79
# RBL Bank Ltd.	Private sector bank	5.41	2492.3	0.69%	0.00%	0.68% (Nov 2025)	0% (Dec 2024)	78.92 L	0.00	Mid Cap	10.11
# Archean Chemical Industries Ltd.	Specialty chemicals	3.23	2451.5	0.68%	0.00%	0.88% (Dec 2024)	0.62% (Nov 2025)	44.00 L	0.00	Other	42.79
# Electronics Mart lndia Ltd.	Speciality retail	1.58	2073.5	0.57%	0.00%	0.99% (Dec 2024)	0.68% (Nov 2025)	2.01 Cr	0.00	Other	42.79
# Vedant Fashions Ltd.	Speciality retail	1.58	2037.4	0.56%	0.00%	1.35% (Dec 2024)	0.59% (Nov 2025)	35.00 L	0.00	Other	42.79
# Clean Science and Technology Ltd.	Commodity chemicals	5.64	1919.1	0.53%	0.00%	0.73% (Aug 2025)	0% (Dec 2024)	21.91 L	0.00	Other	42.79
# KNR Constructions	Civil construction	6.79	1839.4	0.51%	0.00%	1.17% (Dec 2024)	0.5% (Nov 2025)	1.13 Cr	0.00	Small Cap	36.71
# Sheela Foam Ltd.	Furniture, home furnishing	0.51	1835.5	0.51%	0.00%	0.93% (Dec 2024)	0.52% (Nov 2025)	31.40 L	0.00	Small Cap	36.71
# Rajratan Global Wire Ltd.	Auto components & equipments	6.58	1748.3	0.48%	0.00%	0.54% (Dec 2024)	0.33% (Aug 2025)	37.54 L	0.00	Other	42.79
# Star Cement Ltd.	Cement & cement products	0.46	1661.1	0.46%	0.00%	0.6% (Aug 2025)	0.44% (Jun 2025)	73.66 L	-0.14 L	Small Cap	36.71
# Go Fashion (India) Ltd.	Speciality retail	1.58	1616.7	0.45%	0.00%	1% (Jan 2025)	0.5% (Nov 2025)	35.00 L	0.00	Other	42.79
# PVR Inox Ltd.	Film production, distribution & exhibition	0.4	1438.8	0.40%	0.00%	0.55% (Dec 2024)	0.39% (Jun 2025)	14.17 L	0.00	Small Cap	36.71
# Vst Industries Ltd.	Cigarettes & tobacco products	0.35	1270.6	0.35%	0.00%	0.74% (Jan 2025)	0.35% (Nov 2025)	49.34 L	0.00	Small Cap	36.71
# Rossari Biotech Ltd.	Specialty chemicals	3.23	1173.8	0.32%	0.00%	0.47% (Dec 2024)	0.33% (Nov 2025)	20.16 L	0.00	Other	42.79
# Billionbrains Garage Ventures Ltd.	Stockbroking & allied	0.22	785.5	0.22%	0.00%	0.28% (Nov 2025)	0% (Dec 2024)	50.30 L	-0.14 Cr	Other	42.79
# Ajax Engineering Ltd.	Construction vehicles	0.2	714.7	0.20%	0.00%	0.25% (Aug 2025)	0% (Dec 2024)	12.04 L	0.00	Other	42.79
# Acme Solar Holdings Ltd.	Holding company	0.2	709.9	0.20%	0.00%	0.24% (Aug 2025)	0% (Dec 2024)	29.89 L	0.00	Other	42.79
# V-Mart Retail Ltd.	Diversified retail	0.02	75.5	0.02%	0.00%	0.88% (Dec 2024)	0.04% (Sep 2025)	1.06 L	-1.12 L	Small Cap	36.71
# CCL Products (India) Ltd.	Tea & coffee	0.01	28.6	0.01%	0.00%	0.01% (Nov 2025)	0% (Dec 2024)	30.25 k	-7.29 k	Small Cap	36.71

- 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
# Belrise Industries Ltd.	Auto components & equipments	8070.1	2.23%	2.23%	0% (Jan 2026)	0% (Jan 2026)	4.35 Cr	43542092
# Honeywell Automation India Ltd.	Industrial products	3359.3	0.93%	0.93%	0% (Jan 2026)	0% (Jan 2026)	1.02 L	102401
# Fairchem Speciality Ltd.	Specialty chemicals	5328.4	1.47%	1.47%	0% (Jan 2026)	0% (Jan 2026)	19.00 L	1900000

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
No complete exits in the portfolio in the last month.

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
Ather Energy Ltd.	4.18%	3.98%	3.76%	3.19%	2.57%	1.98%	1.87%	1.85%	0.75%	-	-	-	-
SBFC Finance Ltd.	2.56%	2.67%	2.76%	2.66%	2.68%	2.63%	2.81%	2.96%	2.87%	2.56%	2.77%	2.44%	2.42%
Kalpataru Power Transmission Ltd.	2.62%	2.61%	2.69%	2.79%	2.80%	2.55%	2.72%	2.64%	2.42%	2.50%	2.44%	2.68%	3.06%
EID-Parry (India) Ltd.	2.66%	2.65%	2.71%	2.69%	2.98%	3.23%	2.90%	2.60%	2.40%	2.38%	2.18%	2.45%	2.49%
Chalet Hotels Ltd.	2.31%	2.37%	2.50%	2.60%	2.79%	2.49%	2.51%	2.62%	2.42%	2.58%	2.52%	2.40%	2.83%
City Union Bank Ltd.	3.33%	3.11%	2.58%	2.50%	2.32%	2.51%	2.55%	2.40%	2.31%	2.12%	2.16%	2.39%	2.21%
Doms Industries Ltd.	2.38%	2.28%	2.30%	2.31%	2.28%	2.17%	2.33%	2.37%	2.85%	3.08%	2.79%	2.62%	2.58%
Krishna Institute of Medical Sciences Ltd.	2.07%	2.33%	2.41%	2.42%	2.53%	2.60%	2.33%	2.48%	2.55%	2.56%	2.26%	2.40%	2.20%
K.P.R. Mill Ltd.	2.00%	2.29%	2.23%	2.30%	2.16%	2.47%	2.46%	2.55%	2.42%	2.26%	2.17%	2.30%	2.29%
Belrise Industries Ltd.	2.23%	-	-	-	-	-	-	-	-	-	-	-	-
Aavas Financiers Ltd.	-	-	-	-	-	-	-	-	-	-	2.31%	2.14%	1.96%
Cholamandalam Financial Holdings Ltd.	1.96%	2.00%	2.03%	2.08%	1.92%	2.09%	2.38%	2.15%	2.30%	2.23%	2.27%	1.91%	1.64%
Finolex Industries Ltd.	1.66%	1.70%	1.76%	1.95%	2.08%	2.01%	2.11%	2.22%	1.90%	2.02%	2.08%	2.27%	2.60%
Blue Star Ltd.	1.57%	1.61%	1.73%	1.74%	1.76%	1.61%	1.51%	1.49%	1.77%	2.29%	2.28%	2.91%	3.53%
Deepak Fertilisers & Petrochemicals Corp. Ltd.	1.87%	1.99%	2.12%	2.22%	2.07%	2.37%	2.52%	2.29%	2.12%	1.87%	1.45%	0.61%	-

No of Debt Holding 4 (Category Avg - 0.75) | 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
CD	0.00%	0.05%
T-Bills	2.03%	0.16%
CP	0.00%	0.03%

Category - Small Cap Fund

Security Type	% Weight	Category Average
Government Backed	2.03%	0.16%
Low Risk	0.00%	0.00%
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 - Small Cap Fund

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

Instrument	Type	Sector	Value (Mn)	% of Total Holding	Quantity
Bond - T-Bill	T-Bills	Other	4306.77	1.19%	4.40 Cr
Bond - T-Bill	T-Bills	Other	1951.57	0.54%	2.00 Cr
Bond - T-Bill	T-Bills	Other	619.87	0.17%	65.00 L
Bond - T-Bill	T-Bills	Other	488.42	0.13%	50.00 L