Tata ELSS 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 : ELSS

Portfolio Turnover Ratio : 11.50%. Category average turnover ratio is 91.08%. 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 : 96.78% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 96.78%

No of Stocks : 61 (Category Avg - 53.75) | Large Cap Investments : 49.35%| Mid Cap Investments : 10.63% | Small Cap Investments : 16.71% | Other : 20.09%

Portfolio Summary (as on 31st Oct,2025)

Particulars	This Scheme	Category
No. of Stocks	61	53.75
Top 5 Stock Weight	25.67%	27.25%
Top 10 Stock Weight	40.57%	43.81%
Top 3 Sector Weight	32.76%	31.83%

Category - ELSS

Particulars	This Scheme	Category
Average mcap (Cr)	114341.21	93693.67
Holdings in large cap stocks	49.35%	39.39%
Holdings in mid cap stocks	10.63%	11.3%
Holdings in small cap stocks	16.71%	16.78%

Category - ELSS

Top 10 Stocks holding in Portfolio (as on 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity
HDFC Bank Ltd.	Private sector bank	3406.2	7.22%	0.01%	7.58% (Jul 2025)	6.59% (Dec 2024)	34.50 L
ICICI Bank Ltd.	Private sector bank	2858.8	6.06%	-0.24%	6.88% (Apr 2025)	5.87% (Dec 2024)	21.25 L
Reliance Industries Ltd.	Refineries & marketing	2006.6	4.25%	0.20%	4.31% (Apr 2025)	3.54% (Dec 2024)	13.50 L
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	1931.2	4.09%	0.21%	4.09% (Oct 2025)	3.22% (Dec 2024)	9.40 L
State Bank Of India	Public sector bank	1911.5	4.05%	0.14%	4.05% (Oct 2025)	3.7% (Feb 2025)	20.40 L
Infosys Ltd.	Computers - software & consulting	1719.5	3.65%	-0.03%	4.96% (Jan 2025)	3.65% (Oct 2025)	11.60 L
Axis Bank Ltd.	Private sector bank	1602.6	3.40%	0.17%	3.5% (Apr 2025)	2.91% (Jan 2025)	13.00 L
Larsen & Toubro Ltd.	Civil construction	1419.5	3.01%	0.18%	3.01% (Oct 2025)	2.67% (Apr 2025)	3.52 L
National Thermal Power Corporation Ltd.	Power generation	1162.8	2.47%	-0.11%	2.85% (Mar 2025)	2.45% (Jun 2025)	34.51 L
Bajaj Finance Ltd.	Non banking financial company (nbfc)	1115.8	2.37%	0.02%	2.37% (Oct 2025)	0.47% (Nov 2024)	10.70 L

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

View complete holding

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

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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
HDFC Bank Ltd.	Private sector bank	20.09	3406.2	7.22%	0.01%	7.58% (Jul 2025)	6.59% (Dec 2024)	34.50 L	0.00	Other	20.09
ICICI Bank Ltd.	Private sector bank	20.09	2858.8	6.06%	-0.24%	6.88% (Apr 2025)	5.87% (Dec 2024)	21.25 L	0.00	Large Cap	49.35
Reliance Industries Ltd.	Refineries & marketing	4.25	2006.6	4.25%	0.20%	4.31% (Apr 2025)	3.54% (Dec 2024)	13.50 L	0.00	Large Cap	49.35
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	4.41	1931.2	4.09%	0.21%	4.09% (Oct 2025)	3.22% (Dec 2024)	9.40 L	0.00	Large Cap	49.35
State Bank Of India	Public sector bank	4.05	1911.5	4.05%	0.14%	4.05% (Oct 2025)	3.7% (Feb 2025)	20.40 L	0.00	Large Cap	49.35
Infosys Ltd.	Computers - software & consulting	6.11	1719.5	3.65%	-0.03%	4.96% (Jan 2025)	3.65% (Oct 2025)	11.60 L	0.00	Large Cap	49.35
Axis Bank Ltd.	Private sector bank	20.09	1602.6	3.40%	0.17%	3.5% (Apr 2025)	2.91% (Jan 2025)	13.00 L	0.00	Large Cap	49.35
Larsen & Toubro Ltd.	Civil construction	3.93	1419.5	3.01%	0.18%	3.01% (Oct 2025)	2.67% (Apr 2025)	3.52 L	0.00	Large Cap	49.35
National Thermal Power Corporation Ltd.	Power generation	2.47	1162.8	2.47%	-0.11%	2.85% (Mar 2025)	2.45% (Jun 2025)	34.51 L	0.00	Large Cap	49.35
Bajaj Finance Ltd.	Non banking financial company (nbfc)	4.39	1115.8	2.37%	0.02%	2.37% (Oct 2025)	0.47% (Nov 2024)	10.70 L	0.00	Other	20.09
Motherson Sumi Systems Ltd.	Auto components & equipments	6.56	1075	2.28%	-0.09%	2.37% (Sep 2025)	1.99% (Feb 2025)	1.02 Cr	0.00	Large Cap	49.35
Pricol Ltd.	Auto components & equipments	6.56	1021.7	2.17%	-0.10%	2.38% (Dec 2024)	1.82% (Jul 2025)	19.30 L	0.00	Small Cap	16.71
Cummins India Ltd.	Compressors, pumps & diesel engines	2.93	999.1	2.12%	0.14%	2.12% (Oct 2025)	1.51% (Apr 2025)	2.30 L	0.00	Mid Cap	10.63
V-Mart Retail Ltd.	Diversified retail	1.81	852.2	1.81%	0.21%	2.11% (Nov 2024)	1.6% (Sep 2025)	10.27 L	0.00	Small Cap	16.71
Federal Bank Ltd.	Private sector bank	20.09	851.8	1.81%	0.28%	1.81% (Oct 2025)	1.53% (Jan 2025)	36.00 L	0.00	Mid Cap	10.63
Ultratech Cement Ltd.	Cement & cement products	2.97	836.3	1.77%	-0.11%	1.98% (Aug 2025)	1.68% (Nov 2024)	70.00 k	0.00	Large Cap	49.35
Sun Pharmaceutical Industries Ltd.	Pharmaceuticals	4.56	803.1	1.70%	0.04%	1.98% (Apr 2025)	1.66% (Sep 2025)	4.75 L	0.00	Large Cap	49.35
HCL Technologies Limited	Computers - software & consulting	6.11	786.2	1.67%	0.12%	2.11% (Dec 2024)	1.55% (Sep 2025)	5.10 L	0.00	Large Cap	49.35
Hindalco Industries Ltd.	Aluminium	1.62	763.1	1.62%	0.11%	1.62% (Oct 2025)	1.17% (Dec 2024)	9.00 L	0.00	Large Cap	49.35
City Union Bank Ltd.	Private sector bank	20.09	754.6	1.60%	0.05%	1.6% (Oct 2025)	0.91% (Feb 2025)	33.00 L	0.00	Mid Cap	10.63
Ami Organics Ltd.	Pharmaceuticals	4.56	750.6	1.59%	0.33%	1.81% (Jan 2025)	1.2% (Jun 2025)	4.34 L	0.00	Other	20.09
ICICI Lombard General Insurance Co Ltd.	General insurance	1.59	747.6	1.59%	0.03%	1.62% (Jun 2025)	1.44% (Dec 2024)	3.75 L	0.00	Large Cap	49.35
SBI Cards and Payment Services Ltd.	Non banking financial company (nbfc)	4.39	692	1.47%	-0.05%	1.63% (Feb 2025)	0.75% (Dec 2024)	7.88 L	0.00	Other	20.09
Anant Raj Industries Ltd.	Residential, commercial projects	2.54	653.1	1.38%	-0.18%	1.87% (Dec 2024)	1.04% (Apr 2025)	10.14 L	0.00	Small Cap	16.71
Gravita India Ltd.	Industrial minerals	1.38	652.3	1.38%	0.03%	1.84% (Jan 2025)	1.35% (Sep 2025)	3.91 L	0.00	Small Cap	16.71
Graphite India Ltd.	Electrodes & refractories	1.32	623.2	1.32%	0.10%	1.32% (Oct 2025)	0.97% (Feb 2025)	10.00 L	0.00	Small Cap	16.71
Bharat Electronics Ltd.	Aerospace & defense	1.29	607.2	1.29%	0.02%	1.29% (Oct 2025)	0.87% (Feb 2025)	14.25 L	0.00	Mid Cap	10.63
Cipla Ltd.	Pharmaceuticals	4.56	600.5	1.27%	-0.05%	1.42% (Aug 2025)	1.27% (Oct 2025)	4.00 L	0.00	Large Cap	49.35
SBI Life Insurance Co Ltd.	Life insurance	1.24	586.7	1.24%	0.06%	1.24% (Oct 2025)	0.9% (Dec 2024)	3.00 L	0.00	Large Cap	49.35
Transrail Lighting Ltd.	Heavy electrical equipment	1.24	585	1.24%	-0.04%	1.33% (Aug 2025)	0% (Nov 2024)	8.04 L	0.00	Other	20.09
KEI Industries Ltd.	Cables - electricals	1.24	584.6	1.24%	-0.05%	1.39% (Dec 2024)	0.97% (Mar 2025)	1.45 L	0.00	Small Cap	16.71
Shriram Pistons & Rings Ltd.	Auto ancillaries	1.22	575.1	1.22%	-0.08%	1.3% (Sep 2025)	0.9% (Apr 2025)	2.20 L	0.00	Small Cap	16.71
Ambuja Cements Ltd.	Cement & cement products	2.97	565.4	1.20%	-0.05%	1.29% (Jul 2025)	1.14% (Nov 2024)	10.00 L	0.00	Large Cap	49.35
Radico Khaitan Ltd.	Breweries & distilleries	1.19	563.7	1.19%	0.05%	1.95% (Dec 2024)	0.99% (May 2025)	1.80 L	0.00	Small Cap	16.71
Coal India Ltd.	Coal	1.19	563.5	1.19%	-0.05%	1.33% (Mar 2025)	1.19% (Jul 2025)	14.50 L	0.00	Large Cap	49.35
Brigade Enterprises Ltd.	Residential, commercial projects	2.54	545.8	1.16%	0.12%	1.41% (Dec 2024)	1.04% (Sep 2025)	5.26 L	0.00	Small Cap	16.71
UNO Minda Ltd.	Auto components & equipments	6.56	544.4	1.15%	-0.11%	1.26% (Aug 2025)	0.89% (Mar 2025)	4.41 L	0.00	Small Cap	16.71
Pi Industries Ltd.	Pesticides & agrochemicals	1.14	536.6	1.14%	-0.02%	1.39% (Jul 2025)	1.12% (Feb 2025)	1.50 L	0.00	Mid Cap	10.63
Power Finance Corporation Ltd.	Financial institution	2.01	514.1	1.09%	-0.06%	1.35% (Nov 2024)	1.08% (Aug 2025)	12.75 L	0.00	Mid Cap	10.63
# InterGlobe Aviation Ltd.	Airline	1.01	478.1	1.01%	1.01%	1.01% (Oct 2025)	0% (Nov 2024)	85.00 k	85.00 k	Large Cap	49.35
Flair Writing Industries Ltd.	Stationary	0.98	464.4	0.98%	-0.17%	1.3% (Jul 2025)	0.9% (Mar 2025)	14.93 L	-2.40 L	Other	20.09
- Varroc Engineering Ltd.	Auto components & equipments	6.56	452.6	0.96%	0.00%	0.96% (Sep 2025)	0.73% (Apr 2025)	7.40 L	0.00	Small Cap	16.71
UTI Asset Management Co. Pvt. Ltd.	Asset management company	0.95	449.1	0.95%	-0.50%	1.46% (Dec 2024)	0.95% (Oct 2025)	3.60 L	-1.45 L	Other	20.09
Jubilant Foodworks Ltd.	Restaurants	1.97	433.4	0.92%	-0.06%	1.18% (Apr 2025)	0.92% (Oct 2025)	7.25 L	0.00	Other	20.09
Rural Electrification Corporation Limited	Financial institution	2.01	433	0.92%	-0.03%	1.32% (Nov 2024)	0.9% (Aug 2025)	11.55 L	0.00	Mid Cap	10.63
Burger King India Ltd.	Restaurants	1.97	396.6	0.84%	-0.17%	1.11% (Nov 2024)	0.83% (Mar 2025)	58.99 L	-0.84 L	Other	20.09
Kirloskar Pneumatic Co. Ltd.	Compressors, pumps & diesel engines	2.93	383.7	0.81%	-0.10%	1.03% (Jun 2025)	0% (Nov 2024)	3.43 L	0.00	Small Cap	16.71
Tech Mahindra Ltd.	Computers - software & consulting	6.11	370.3	0.79%	-0.01%	0.99% (Jan 2025)	0.79% (Oct 2025)	2.60 L	0.00	Large Cap	49.35
Voltas Limited	Household appliances	0.66	311.9	0.66%	-0.20%	1.54% (Dec 2024)	0.66% (Oct 2025)	2.25 L	-0.65 L	Mid Cap	10.63
Hindustan Unilever Ltd.	Diversified fmcg	0.65	308.2	0.65%	-0.04%	0.74% (Aug 2025)	0% (Nov 2024)	1.25 L	0.00	Large Cap	49.35
HG Infra Engineering Ltd.	Civil construction	3.93	268.9	0.57%	-0.03%	0.95% (Dec 2024)	0.57% (Oct 2025)	2.92 L	0.00	Small Cap	16.71
# Tata Capital Ltd.	Non banking financial company (nbfc)	4.39	259.4	0.55%	0.55%	0.55% (Oct 2025)	0% (Nov 2024)	7.93 L	7.93 L	Other	20.09
Pearl Global Industries Limited	Trading – textiles	0.43	205	0.43%	-0.12%	0.65% (Feb 2025)	0.43% (Oct 2025)	1.56 L	-0.41 L	Other	20.09
# TML Commercial Vehicles Ltd.	Commercial vehicles	0.43	203	0.43%	0.43%	0.43% (Oct 2025)	0% (Nov 2024)	7.65 L	7.65 L	Other	20.09
Tata Motors Ltd.	Passenger cars & utility vehicles	0.39	186	0.39%	-0.75%	1.29% (Nov 2024)	0.39% (Oct 2025)	4.54 L	-3.11 L	Large Cap	49.35
KNR Constructions	Civil construction	3.93	166.6	0.35%	-0.09%	0.75% (Dec 2024)	0.35% (Oct 2025)	9.19 L	-0.81 L	Small Cap	16.71
Bharti Airtel Ltd. - Partly Paid	Telecom - cellular & fixed line services	4.41	151.1	0.32%	0.02%	0.32% (Oct 2025)	0.24% (Dec 2024)	96.43 k	0.00	Other	20.09
# Rainbow Childrens Medicare Ltd.	Hospital	0.23	106.6	0.23%	0.23%	0.23% (Oct 2025)	0% (Nov 2024)	77.82 k	77.82 k	Other	20.09
Barbeque-Nation Hospitality Ltd.	Restaurants	1.97	96.8	0.21%	-0.15%	0.75% (Nov 2024)	0.21% (Oct 2025)	4.74 L	-2.26 L	Other	20.09
Laxmi Dental Ltd.	Medical equipment & supplies	0.19	88.1	0.19%	-0.01%	0.31% (Jan 2025)	0% (Nov 2024)	2.80 L	0.00	Other	20.09
# LG Electronics India Pvt. Ltd.	Consumer electronics	0.15	70.2	0.15%	0.15%	0.15% (Oct 2025)	0% (Nov 2024)	42.21 k	42.21 k	Other	20.09
Gujarat State Petronet Ltd.	Gas transmission/marketing		0	0.00%	0.00%	-	-	-	-	Mid Cap	10.63

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

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

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
# TML Commercial Vehicles Ltd.	Commercial vehicles	203	0.43%	0.43%	0.43% (Oct 2025)	0% (Nov 2024)	7.65 L	765000
# Rainbow Childrens Medicare Ltd.	Hospital	106.6	0.23%	0.23%	0.23% (Oct 2025)	0% (Nov 2024)	77.82 k	77818
# Tata Capital Ltd.	Non banking financial company (nbfc)	259.4	0.55%	0.55%	0.55% (Oct 2025)	0% (Nov 2024)	7.93 L	792668
# LG Electronics India Pvt. Ltd.	Consumer electronics	70.2	0.15%	0.15%	0.15% (Oct 2025)	0% (Nov 2024)	42.21 k	42207
# InterGlobe Aviation Ltd.	Airline	478.1	1.01%	1.01%	1.01% (Oct 2025)	0% (Nov 2024)	85.00 k	85000

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

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
- Gujarat State Petronet Ltd.	Gas transmission/marketing	0	0.00%	0.00%	0.72% (Dec 2024)	0% (Nov 2024)	0.00	-20

Trend in stock holdings (Top 15 Holding)

Stock	Oct 2025	Sep 2025	Aug 2025	Jul 2025	Jun 2025	May 2025	Apr 2025	Mar 2025	Feb 2025	Jan 2025	Dec 2024	Nov 2024	Oct 2024
HDFC Bank Ltd.	7.22%	7.21%	7.34%	7.58%	7.33%	7.32%	7.54%	7.27%	7.37%	6.66%	6.59%	6.64%	6.40%
ICICI Bank Ltd.	6.06%	6.30%	6.64%	6.85%	6.52%	6.70%	6.88%	6.61%	6.31%	6.05%	5.87%	5.92%	5.87%
Infosys Ltd.	3.65%	3.68%	3.81%	3.81%	3.94%	3.96%	3.95%	4.20%	4.83%	4.96%	4.70%	4.62%	4.36%
Reliance Industries Ltd.	4.25%	4.05%	4.10%	4.08%	4.30%	4.19%	4.31%	3.97%	4.00%	3.88%	3.54%	3.74%	3.84%
State Bank Of India	4.05%	3.91%	3.90%	3.77%	3.79%	3.86%	3.89%	3.87%	3.70%	3.82%	3.73%	3.91%	3.81%
Bharti Airtel Ltd.	4.09%	3.88%	3.97%	3.92%	4.01%	3.81%	3.98%	3.76%	3.64%	3.48%	3.22%	3.28%	3.24%
Axis Bank Ltd.	3.40%	3.23%	3.04%	3.02%	3.31%	3.38%	3.50%	3.30%	3.26%	2.91%	2.98%	3.17%	3.22%
Larsen & Toubro Ltd.	3.01%	2.83%	2.84%	2.79%	2.74%	2.82%	2.67%	2.84%	2.75%	2.86%	2.74%	2.81%	2.73%
National Thermal Power Corporation Ltd.	2.47%	2.58%	2.53%	2.51%	2.45%	2.51%	2.78%	2.85%	2.65%	2.54%	2.48%	2.69%	3.01%
Motherson Sumi Systems Ltd.	2.28%	2.37%	2.12%	2.16%	2.23%	2.27%	2.06%	2.05%	1.99%	2.18%	2.29%	2.37%	2.63%
Pricol Ltd.	2.17%	2.27%	1.98%	1.82%	1.88%	1.89%	1.96%	2.05%	1.93%	2.34%	2.38%	2.11%	2.10%
V-Mart Retail Ltd.	1.81%	1.60%	1.71%	1.77%	1.87%	1.91%	1.90%	1.72%	1.90%	1.87%	2.11%	2.11%	2.27%
HCL Technologies Limited	1.67%	1.55%	1.66%	1.63%	1.87%	1.82%	1.81%	1.87%	1.98%	2.00%	2.11%	2.02%	1.92%
Sun Pharmaceutical Industries Ltd.	1.70%	1.66%	1.69%	1.76%	1.69%	1.74%	1.98%	1.90%	1.87%	1.88%	1.93%	1.81%	1.88%
Ultratech Cement Ltd.	1.77%	1.88%	1.98%	1.87%	1.80%	1.71%	1.85%	1.86%	1.75%	1.83%	1.72%	1.68%	1.66%