The Motilal Oswal Midcap Fund (formerly known as Motilal Oswal Midcap 30 Fund) is a high-conviction equity portfolio within the mid-cap category, mandated to invest at least 65 percent of its assets in mid-cap stocks. It is an open-ended equity scheme that primarily focuses on identifying quality mid-sized companies with strong growth potential. As of September 2025, the fund reported an AUM of Rs. 34,748.9 crore, a portfolio turnover ratio of 1.3, and a total expense ratio of 0.71 percent per annum.
The investment objective of the scheme is to deliver long-term capital appreciation by investing in fundamentally sound mid-cap companies that possess sustainable competitive advantages and robust growth prospects.
Following are the top six holdings of Motilal Oswal Midcap Fund as of 30th September 2025:
Kalyan Jewellers India Limited
With a market cap of Rs. 50,863.5 crores, the stock closed in the red at Rs. 492.6 on BSE, down by 0.45 percent on Tuesday’s muhurat trading session. Motilal Oswal Midcap Fund holds a stake in Kalyan Jewellers, operating in the Gems, jewellery and watches segment. The fund’s investment is valued at around Rs. 2,725.8 crores, representing 7.84 percent of its total holdings.
Over the last year, the fund’s highest exposure to the stock was 9.97 percent (in Sep 2024) and the lowest was 6.83 percent (in Feb 2025). As of the latest data, the fund holds 6 crore shares, with no change in the holding during the past month.
One 97 Communications Limited
With a market cap of Rs. 83,595 crores, the stock closed in the green at Rs. 1,308 on BSE on Tuesday’s muhurat trading session. Motilal Oswal Midcap Fund holds a stake in Paytm, operating in the financial technology (fintech) segment. The fund’s investment is valued at around Rs. 2,809.5 crores, representing 8.09 percent of its total holdings.
Over the last year, the fund’s highest exposure to the stock was 8.68 percent (in Aug 2025) and the lowest was 2.46 percent (in Sep 2024). As of the latest data, the fund holds 2.5 crore shares, with no change in the holding during the past month.
Persistent Systems Limited
With a market cap of Rs. 90,714 crores, the stock closed in the red at Rs. 5,800.15 on BSE, down by around 1 percent on Tuesday’s muhurat trading session. Motilal Oswal Midcap Fund holds a stake in Persistent Systems, operating in the computers – software & consulting segment. The fund’s investment is valued at around Rs. 2,893.5 crores, representing 8.33 percent of its total holdings.
Over the last year, the fund’s highest exposure to the stock was 10.06 percent (in Apr 2025) and the lowest was 7.74 percent (in Nov 2024). As of the latest data, the fund holds 60 lakh shares, reflecting a monthly increase of 5 lakh shares.
Coforge Limited
With a market cap of Rs. 58,340 crores, the stock closed in the red at Rs. 1,743.6 on BSE, down by around 0.3 percent on Tuesday’s muhurat trading session. Motilal Oswal Midcap Fund holds a stake in Coforge, operating in the computers – software & consulting segment. The fund’s investment is valued at around Rs. 3,142.2 crores, representing 9.04 percent of its total holdings.
Over the last year, the fund’s highest exposure to the stock was 10.48 percent (in Jun 2025) and the lowest was 8.49 percent (in Sep 2024). As of the latest data, the fund holds 1.98 crore shares, with no change in the holding during the past month.
Eternal Limited
With a market cap of Rs. 3.26 lakh crores, the stock closed in the red at Rs. 338.05 on BSE during Tuesday’s muhurat trading session. Motilal Oswal Midcap Fund holds a stake in Eternal, operating in the e-retail/e-commerce segment. The fund’s investment is valued at around Rs. 3,255 crores, representing 9.37 percent of its total holdings.
Over the last year, the fund’s highest exposure to the stock was 9.47 percent (in Nov 2024). As of the latest data, the fund holds 10 crore shares, with no change in the holding during the past month.
Dixon Technologies (India) Limited
With a market cap of Rs. 97,609 crores, the stock closed in the green at Rs. 1,6130.05 on BSE, up by around 0.3 percent on Tuesday’s muhurat trading session. Motilal Oswal Midcap Fund holds a stake in Dixon Tech, operating in the consumer electronics sector. The fund’s investment is valued at around Rs. 3,325.6 crores, representing 9.57 percent of its total holdings.
Over the last year, the fund’s highest exposure to the stock was 10.52 percent (in July 2025) and the lowest was 0.37 percent (in September 2024). As of the latest data, the fund holds 20.38 lakh shares, reflecting a monthly reduction of 0.62 lakh shares.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
The post Dixon Technologies and 5 other top holdings in Motilal Oswal Midcap Fund as of Q2 FY26 appeared first on Trade Brains.