HDFC Arbitrage Fund holds 191 instruments (75.47% equity), led by HDFC Bank Limited (5.05%), ICICI Bank Limited (4.86%) and Reliance Industries Limited (3.51%), as of its 31 August 2026 SEBI-mandated monthly disclosure.
This page shows the complete disclosed portfolio of HDFC Arbitrage Fund, managed by HDFC Mutual Fund, based on its monthly portfolio disclosure dated 31 August 2026. The fund holds 191 instruments with an equity allocation of 75.47%. Percentages are of net assets (% to NAV). Click any stock to see every other mutual fund that also holds it.
HDFC Arbitrage Fund's top 10 holdings account for 29.19% of its portfolio, in line with the Hybrid category average of 27.4%. Financial Services is its largest sector exposure at 30.42% of net assets, spread across 12 sectors in total. Since its 31 July 2026 disclosure, the fund added 19 new positions and exited 13 positions, with Bharti Airtel Limited seeing the largest move (+1.06pp to 3.28%).
Equity holdings grouped by sector, % to NAV. "Other" covers debt, cash and other non-equity instruments, plus any equity holding without a classified sector.
Equity holdings compared between the fund's two latest monthly disclosures. Weights are % to NAV; weight moves can also reflect price changes, not only buying or selling.
| Stock | Weight | Change |
|---|---|---|
| Bharti Airtel Limited | 2.22% → 3.28% | ▲ +1.06 |
| Axis Bank Limited | 2.07% → 2.96% | ▲ +0.89 |
| HDFC Bank Limited | 4.32% → 5.05% | ▲ +0.73 |
| ICICI Bank Limited | 4.14% → 4.86% | ▲ +0.72 |
| One 97 Communications Limited | 0.28% → 0.79% | ▲ +0.51 |
| State Bank of India | 1.86% → 2.36% | ▲ +0.5 |
| TVS Motor Company Limited | 0.97% → 1.36% | ▲ +0.39 |
| Cummins India Limited | 0.17% → 0.55% | ▲ +0.38 |
| Indus Towers Limited | 0.58% → 0.89% | ▲ +0.31 |
| Kalyan Jewellers India Limited | 0.08% → 0.37% | ▲ +0.29 |
| Stock | Weight | Change |
|---|---|---|
| Grasim Industries Limited | 1.7% → 0.87% | ▼ -0.83 |
| ITC Limited | 1.22% → 0.59% | ▼ -0.63 |
| Shriram Finance Limited | 0.64% → 0.12% | ▼ -0.52 |
| Mahindra & Mahindra Limited | 0.65% → 0.19% | ▼ -0.46 |
| Reliance Industries Limited | 3.97% → 3.51% | ▼ -0.46 |
| Bajaj Finserv Limited | 0.51% → 0.13% | ▼ -0.38 |
| Yes Bank Limited | 0.76% → 0.38% | ▼ -0.38 |
| Titan Company Limited | 0.66% → 0.31% | ▼ -0.35 |
| Adani Energy Solutions Limited | 0.33% → 0.03% | ▼ -0.3 |
| Oracle Financial Services Software Limited | 0.22% → 0.01% | ▼ -0.21 |
% to NAV of the fund's current top holdings over its last 6 monthly disclosures (Mar – Aug 2026).
| # | Holding | Sector | % to NAV |
|---|---|---|---|
| 1 | HDFC Money Market Fund - Growth Option - Direct Planmf | — | 8.27% |
| 2 | HDFC Bank Limited | Financial Services | 5.05% |
| 3 | ICICI Bank Limited | Financial Services | 4.86% |
| 4 | HDFC Liquid Fund - Growth Option - Direct Planmf | — | 3.72% |
| 5 | Reliance Industries Limited | Energy | 3.51% |
| 6 | Bharti Airtel Limited | Telecommunication | 3.28% |
| 7 | Axis Bank Limited | Financial Services | 2.96% |
| 8 | HDFC Ultra Short Term Fund - Direct Plan-Growth Optionmf | — | 2.63% |
| 9 | HDFC Low Duration Fund - Direct Plan - Growthmf | — | 2.42% |
| 10 | TREPS - Tri-party Repotreps | — | 2.39% |
| 11 | JSW Steel Limited | Materials | 2.37% |
| 12 | State Bank of India | Financial Services | 2.36% |
| 13 | Canara Bank | Financial Services | 1.72% |
| 14 | Bajaj Finance Limited | Financial Services | 1.58% |
| 15 | Bharat Electronics Limited | Industrials | 1.5% |
| 16 | NTPC Limited | Utilities | 1.47% |
| 17 | Tata Steel Limited | Materials | 1.47% |
| 18 | Kotak Mahindra Bank Limited | Financial Services | 1.43% |
| 19 | TVS Motor Company Limited | Consumer Discretionary | 1.36% |
| 20 | Hindustan Unilever Limited | Consumer Staples | 1.32% |
| 21 | Punjab National Bank | Financial Services | 1.28% |
| 22 | Indian Overseas Bank^bond | — | 1.14% |
| 23 | Hindalco Industries Limited | Materials | 0.97% |
| 24 | Small Industries Development Bank of Indiabond | — | 0.95% |
| 25 | UNION BANK OF INDIA CD REDbond | — | 0.95% |
| 26 | Indus Towers Limited | Telecommunication | 0.89% |
| 27 | Grasim Industries Limited | Materials | 0.87% |
| 28 | IDFC First Bank Limited | Financial Services | 0.85% |
| 29 | Vodafone Idea Limited | Telecommunication | 0.82% |
| 30 | One 97 Communications Limited | Financial Services | 0.79% |
| 31 | Punjab National Bank 2027bond | — | 0.76% |
| 32 | Cholamandalam Investment and Finance Company Limited | Financial Services | 0.71% |
| 33 | Divi's Laboratories Limited | Healthcare | 0.7% |
| 34 | Apollo Hospitals Enterprise Limited | Healthcare | 0.69% |
| 35 | Adani Enterprises Limited | Materials | 0.65% |
| 36 | NMDC Limited | Materials | 0.64% |
| 37 | Steel Authority of India Limited | Materials | 0.64% |
| 38 | InterGlobe Aviation Limited | Services | 0.63% |
| 39 | Bank of Baroda | Financial Services | 0.6% |
| 40 | Hitachi Energy India Limited | Industrials | 0.6% |
| 41 | Coal India Limited | Energy | 0.59% |
| 42 | ITC Limited | Consumer Staples | 0.59% |
| 43 | Bharat Heavy Electricals Limited | Industrials | 0.58% |
| 44 | Muthoot Finance Limited | Financial Services | 0.58% |
| 45 | Indian Oil Corporation Limited | Energy | 0.57% |
| 46 | Eicher Motors Limited | Consumer Discretionary | 0.56% |
| 47 | Cummins India Limited | Industrials | 0.55% |
| 48 | The Indian Hotels Company Limited | Consumer Discretionary | 0.54% |
| 49 | TATA CONSUMER PRODUCTS LIMITED | Consumer Staples | 0.54% |
| 50 | HDFC Life Insurance Company Limited | Financial Services | 0.51% |
| 51 | Marico Limited | Consumer Staples | 0.51% |
| 52 | Glenmark Pharmaceuticals Limited | Healthcare | 0.5% |
| 53 | Larsen & Toubro Limited | Industrials | 0.5% |
| 54 | Ambuja Cements Limited | Materials | 0.49% |
| 55 | Info Edge (India) Limited | Consumer Discretionary | 0.43% |
| 56 | LIC Housing Finance Limited | Financial Services | 0.43% |
| 57 | Varun Beverages Limited | Consumer Staples | 0.43% |
| 58 | Asian Paints Limited | Consumer Discretionary | 0.42% |
| 59 | Maruti Suzuki India Limited | Consumer Discretionary | 0.41% |
| 60 | Biocon Limited | Healthcare | 0.4% |
| 61 | Yes Bank Limited | Financial Services | 0.38% |
| 62 | ICICI Bank Limitedbond | — | 0.38% |
| 63 | Indian Overseas Bank^bond | — | 0.38% |
| 64 | Kotak Mahindra Bank Limited 2027bond | — | 0.38% |
| 65 | PUNJAB NATIONAL BANK CD REDbond | — | 0.38% |
| 66 | PUNJAB NATIONAL BANK CDbond | — | 0.38% |
| 67 | GE Vernova T&D India Limited | Industrials | 0.37% |
| 68 | Kalyan Jewellers India Limited | Consumer Discretionary | 0.37% |
| 69 | Indian Energy Exchange Limited | Financial Services | 0.36% |
| 70 | CG Power and Industrial Solutions Limited | Industrials | 0.35% |
| 71 | Tata Motors Passenger Vehicles Limited | Consumer Discretionary | 0.35% |
| 72 | Tata Power Company Limited | Utilities | 0.35% |
| 73 | Ashok Leyland Limited | Industrials | 0.34% |
| 74 | Godrej Properties Limited | Real Estate | 0.34% |
| 75 | Jio Financial Services Limited | Financial Services | 0.34% |
| 76 | Hindustan Petroleum Corporation Limited | Energy | 0.33% |
| 77 | Life Insurance Corporation Of India | Financial Services | 0.33% |
| 78 | Solar Industries India Limited | Materials | 0.32% |
| 79 | Titan Company Limited | Consumer Discretionary | 0.31% |
| 80 | UltraTech Cement Limited | Materials | 0.31% |
| 81 | Bank of India | Financial Services | 0.28% |
| 82 | Bharat Forge Limited | Consumer Discretionary | 0.28% |
| 83 | Cipla Limited | Healthcare | 0.28% |
| 84 | Manappuram Finance Limited | Financial Services | 0.28% |
| 85 | Pidilite Industries Limited | Materials | 0.28% |
| 86 | Union Bank of India | Financial Services | 0.28% |
| 87 | Infosys Limited | Information Technology | 0.27% |
| 88 | Lupin Limited | Healthcare | 0.26% |
| 89 | Aditya Birla Capital Limited | Financial Services | 0.24% |
| 90 | Bharat Petroleum Corporation Limited | Energy | 0.24% |
| 91 | Hindustan Zinc Limited | Materials | 0.24% |
| 92 | Voltas Limited | Consumer Discretionary | 0.24% |
| 93 | Coforge Limited | Information Technology | 0.23% |
| 94 | Hindustan Aeronautics Limited | Industrials | 0.23% |
| 95 | UPL Limited | Materials | 0.23% |
| 96 | Max Financial Services Limited | Financial Services | 0.22% |
| 97 | Central Depository Services (India) Limited | Financial Services | 0.21% |
| 98 | Tech Mahindra Limited | Information Technology | 0.21% |
| 99 | Adani Power Limited | Utilities | 0.2% |
| 100 | Dabur India Limited | Consumer Staples | 0.2% |
| 101 | Adani Green Energy Limited | Utilities | 0.19% |
| 102 | Mahindra & Mahindra Limited | Consumer Discretionary | 0.19% |
| 103 | Power Finance Corporation Limited | Financial Services | 0.19% |
| 104 | CD - CANARA BANKbond | — | 0.19% |
| 105 | Canara Bank^bond | — | 0.19% |
| 106 | Export - Import Bank of India^bond | — | 0.19% |
| 107 | Multi Commodity Exchange of India Limited | Financial Services | 0.18% |
| 108 | Adani Ports and Special Economic Zone Limited | Services | 0.17% |
| 109 | APL Apollo Tubes Limited | Industrials | 0.17% |
| 110 | Aurobindo Pharma Limited | Healthcare | 0.17% |
| 111 | Inox Wind Limited | Industrials | 0.17% |
| 112 | SRF Limited | Materials | 0.17% |
| 113 | Alkem Laboratories Limited | Healthcare | 0.16% |
| 114 | Bosch Limited | Consumer Discretionary | 0.16% |
| 115 | DLF Limited | Real Estate | 0.16% |
| 116 | GMR AIRPORTS LIMITED | Services | 0.16% |
| 117 | RBL Bank Limited | Financial Services | 0.15% |
| 118 | Samvardhana Motherson International Limited | Consumer Discretionary | 0.14% |
| 119 | United Spirits Limited | Consumer Staples | 0.14% |
| 120 | Amber Enterprises India Limited | Consumer Discretionary | 0.13% |
| 121 | Bajaj Auto Limited | Consumer Discretionary | 0.13% |
| 122 | Bajaj Finserv Limited | Financial Services | 0.13% |
| 123 | UNO Minda Limited | Consumer Discretionary | 0.13% |
| 124 | BSE Limited | Financial Services | 0.12% |
| 125 | National Aluminium Company Limited | Materials | 0.12% |
| 126 | Polycab India Limited | Industrials | 0.12% |
| 127 | Shriram Finance Limited | Financial Services | 0.12% |
| 128 | Supreme Industries Limited | Industrials | 0.12% |
| 129 | Hero MotoCorp Limited | Consumer Discretionary | 0.11% |
| 130 | PB Fintech Limited | Financial Services | 0.11% |
| 131 | Bandhan Bank Limited | Financial Services | 0.1% |
| 132 | Delhivery Limited | Services | 0.1% |
| 133 | ETERNAL LIMITED | Consumer Discretionary | 0.1% |
| 134 | JINDAL STEEL LIMITED | Materials | 0.1% |
| 135 | Canara Bank^bond | — | 0.1% |
| 136 | AU Small Finance Bank Limited | Financial Services | 0.09% |
| 137 | Colgate Palmolive (India) Limited | Consumer Staples | 0.09% |
| 138 | Fortis Healthcare Limited | Healthcare | 0.09% |
| 139 | GAIL (India) Limited | Utilities | 0.09% |
| 140 | SBI Life Insurance Company Limited | Financial Services | 0.09% |
| 141 | Union Bank of India 2027bond | — | 0.09% |
| 142 | FSN E-Commerce Ventures Limited | Consumer Discretionary | 0.08% |
| 143 | Mazagon Dock Shipbuilders Limited | Industrials | 0.08% |
| 144 | Patanjali Foods Limited | Consumer Staples | 0.08% |
| 145 | The Federal Bank Limited | Financial Services | 0.08% |
| 146 | JSW Energy Limited | Utilities | 0.07% |
| 147 | PG Electroplast Limited | Consumer Discretionary | 0.07% |
| 148 | PNB Housing Finance Limited | Financial Services | 0.07% |
| 149 | Power Grid Corporation of India Limited | Utilities | 0.07% |
| 150 | Radico Khaitan Limited | Consumer Staples | 0.07% |
| 151 | Tata Consultancy Services Limited | Information Technology | 0.07% |
| 152 | Computer Age Management Services Limited | Financial Services | 0.06% |
| 153 | ICICI Prudential Life Insurance Company Limited | Financial Services | 0.06% |
| 154 | Nippon Life India Asset Management Limited | Financial Services | 0.06% |
| 155 | Oberoi Realty Limited | Real Estate | 0.06% |
| 156 | Oil & Natural Gas Corporation Limited | Energy | 0.06% |
| 157 | SBI Cards and Payment Services Limited | Financial Services | 0.06% |
| 158 | Torrent Pharmaceuticals Limited | Healthcare | 0.06% |
| 159 | ICICI Lombard General Insurance Company Limited | Financial Services | 0.05% |
| 160 | Max Healthcare Institute Limited | Healthcare | 0.05% |
| 161 | Tube Investments of India Limited | Consumer Discretionary | 0.05% |
| 162 | Vedanta Limited | Materials | 0.05% |
| 163 | Zydus Lifesciences Limited | Healthcare | 0.05% |
| 164 | Britannia Industries Limited | Consumer Staples | 0.04% |
| 165 | Mankind Pharma Limited | Healthcare | 0.04% |
| 166 | Adani Energy Solutions Limited | Utilities | 0.03% |
| 167 | Container Corporation of India Limited | Services | 0.03% |
| 168 | HCL Technologies Limited | Information Technology | 0.03% |
| 169 | Motilal Oswal Financial Services Limited | Financial Services | 0.03% |
| 170 | Nestle India Limited | Consumer Staples | 0.03% |
| 171 | SAGILITY LIMITED | Information Technology | 0.03% |
| 172 | Sun Pharmaceutical Industries Limited | Healthcare | 0.03% |
| 173 | The Phoenix Mills Limited | Real Estate | 0.03% |
| 174 | IndusInd Bank Limited | Financial Services | 0.02% |
| 175 | NBCC (India) Limited | Industrials | 0.02% |
| 176 | Angel One Limited | Financial Services | 0.01% |
| 177 | Cochin Shipyard Limited | Industrials | 0.01% |
| 178 | Godrej Consumer Products Limited | Consumer Staples | 0.01% |
| 179 | Havells India Limited | Consumer Discretionary | 0.01% |
| 180 | L&T Finance Limited | Financial Services | 0.01% |
| 181 | MphasiS Limited | Information Technology | 0.01% |
| 182 | Oracle Financial Services Software Limited | Information Technology | 0.01% |
| 183 | Prestige Estates Projects Limited | Real Estate | 0.01% |
| 184 | Rail Vikas Nigam Limited | Industrials | 0.01% |
| 185 | Trent Limited | Consumer Discretionary | 0% |
| 186 | Suzlon Energy Limited | Industrials | 0% |
| 187 | Page Industries Limited | Consumer Discretionary | 0% |
| 188 | Bank of Maharashtra | Financial Services | 0% |
| 189 | Swiggy Limited | Consumer Discretionary | 0% |
| 190 | SHREE CEMENT LIMITED | Materials | 0% |
| 191 | Net Current Assetsother | — | -1.36% |
New to reading these? See How to Read a Mutual Fund's Monthly Portfolio Disclosure, or check terms like % to NAV in the glossary.
Source: HDFC Mutual Fund's SEBI-mandated monthly portfolio disclosure, dated 31 August 2026. Data is for information only, not investment advice. Holdings may have changed since the disclosure date.