NJ Arbitrage Fund holds 137 instruments (80.39% equity), led by Kotak Mahindra Bank Limited (7.11%), Reliance Industries Limited (6.48%) and Vodafone Idea Limited (6.08%), as of its 30 September 2026 SEBI-mandated monthly disclosure.
This page shows the complete disclosed portfolio of NJ Arbitrage Fund, managed by NJ Mutual Fund, based on its monthly portfolio disclosure dated 30 September 2026. The fund holds 137 instruments with an equity allocation of 80.39%. Percentages are of net assets (% to NAV). Click any stock to see every other mutual fund that also holds it.
NJ Arbitrage Fund's top 10 holdings account for 47.89% of its portfolio, more concentrated than the Hybrid category average of 27.4%. Financial Services is its largest sector exposure at 31.55% of net assets, spread across 12 sectors in total. Since its 31 August 2026 disclosure, the fund added 2 new positions and exited 3 positions, with HDFC Bank Limited seeing the largest move (+2.28pp to 5.56%).
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 |
|---|---|---|
| HDFC Bank Limited | 3.28% → 5.56% | ▲ +2.28 |
| ICICI Bank Limited | 2.82% → 3.43% | ▲ +0.61 |
| Adani Enterprises Limited | 3.93% → 4.06% | ▲ +0.13 |
| Stock | Weight | Change |
|---|---|---|
| Bharti Airtel Limited | 7% → 5.73% | ▼ -1.27 |
| Kotak Mahindra Bank Limited | 7.91% → 7.11% | ▼ -0.8 |
| One 97 Communications Limited | 0.73% → 0.1% | ▼ -0.63 |
| Vodafone Idea Limited | 6.61% → 6.08% | ▼ -0.53 |
| Reliance Industries Limited | 6.85% → 6.48% | ▼ -0.37 |
| Sun Pharmaceutical Industries Limited | 4.51% → 4.2% | ▼ -0.31 |
| Biocon Limited | 2.2% → 2.01% | ▼ -0.19 |
| Dabur India Limited | 0.62% → 0.43% | ▼ -0.19 |
| Mahindra & Mahindra Limited | 2.04% → 1.86% | ▼ -0.18 |
| Canara Bank | 3.3% → 3.16% | ▼ -0.14 |
% to NAV of the fund's current top holdings over its last 6 monthly disclosures (Apr – Sept 2026).
| # | Holding | Sector | % to NAV |
|---|---|---|---|
| 1 | Kotak Mahindra Bank Limited | Financial Services | 7.11% |
| 2 | Reliance Industries Limited | Energy | 6.48% |
| 3 | Vodafone Idea Limited | Telecommunication | 6.08% |
| 4 | Bharti Airtel Limited | Telecommunication | 5.73% |
| 5 | HDFC Bank Limited | Financial Services | 5.56% |
| 6 | Sun Pharmaceutical Industries Limited | Healthcare | 4.2% |
| 7 | Clearing Corporation of India Ltdother | — | 4.18% |
| 8 | Adani Enterprises Limited | Materials | 4.06% |
| 9 | ICICI Bank Limited | Financial Services | 3.43% |
| 10 | Canara Bank | Financial Services | 3.16% |
| 11 | 364 Days Treasury Billtbill | — | 2.61% |
| 12 | 364 Days Treasury Billstbill | — | 2.55% |
| 13 | 182 Days Treasury Billstbill | — | 2.13% |
| 14 | UltraTech Cement Limited | Materials | 2.08% |
| 15 | ITC Limited | Consumer Staples | 2.03% |
| 16 | Biocon Limited | Healthcare | 2.01% |
| 17 | Mahindra & Mahindra Limited | Consumer Discretionary | 1.86% |
| 18 | Adani Power Limited | Utilities | 1.64% |
| 19 | Bank of Baroda | Financial Services | 1.61% |
| 20 | Bajaj Finance Limited | Financial Services | 1.6% |
| 21 | Axis Bank Limited | Financial Services | 1.47% |
| 22 | State Bank of India | Financial Services | 1.41% |
| 23 | SBI Life Insurance Company Limited | Financial Services | 1.38% |
| 24 | Tata Steel Limited | Materials | 1.3% |
| 25 | 364 Days Treasury Billstbill | — | 1.28% |
| 26 | Yes Bank Limited | Financial Services | 1.25% |
| 27 | 364 Days Treasury Billtbill | — | 1.25% |
| 28 | 364 Days Treasury Billbond | — | 1.25% |
| 29 | Steel Authority of India Limited | Materials | 1.2% |
| 30 | Eicher Motors Limited | Consumer Discretionary | 1.19% |
| 31 | Net Receivables / (Payables)other | — | 0.87% |
| 32 | 91 Days Treasury Billstbill | — | 0.85% |
| 33 | Coforge Limited | Information Technology | 0.85% |
| 34 | 182 Days Treasury Billtbill | — | 0.85% |
| 35 | Larsen & Toubro Limited | Industrials | 0.84% |
| 36 | 364 Days Tbill (MD )tbill | — | 0.84% |
| 37 | Asian Paints Limited | Consumer Discretionary | 0.77% |
| 38 | Bandhan Bank Limited | Financial Services | 0.77% |
| 39 | Ambuja Cements Limited | Materials | 0.77% |
| 40 | Infosys Limited | Information Technology | 0.7% |
| 41 | NTPC Limited | Utilities | 0.68% |
| 42 | IDFC First Bank Limited | Financial Services | 0.58% |
| 43 | 8.24% Government of Indiabond | — | 0.56% |
| 44 | Tata Power Company Limited | Utilities | 0.49% |
| 45 | Indian Energy Exchange Limited | Financial Services | 0.48% |
| 46 | Pidilite Industries Limited | Materials | 0.47% |
| 47 | LIC Housing Finance Limited | Financial Services | 0.43% |
| 48 | Dabur India Limited | Consumer Staples | 0.43% |
| 49 | Punjab National Bank | Financial Services | 0.42% |
| 50 | 364 DAYS T-BILL 04032027tbill | — | 0.42% |
| 51 | HDFC Life Insurance Company Limited | Financial Services | 0.37% |
| 52 | Jio Financial Services Limited | Financial Services | 0.35% |
| 53 | Tata Motors Passenger Vehicles Limited | Consumer Discretionary | 0.33% |
| 54 | Divi's Laboratories Limited | Healthcare | 0.28% |
| 55 | Indus Towers Limited | Telecommunication | 0.27% |
| 56 | Hindustan Aeronautics Limited | Industrials | 0.27% |
| 57 | Grasim Industries Limited | Materials | 0.26% |
| 58 | Crompton Greaves Consumer Electricals Limited | Consumer Discretionary | 0.25% |
| 59 | United Spirits Limited | Consumer Staples | 0.21% |
| 60 | Power Grid Corporation of India Limited | Utilities | 0.17% |
| 61 | Hindalco Industries Limited | Materials | 0.14% |
| 62 | TATA CONSUMER PRODUCTS LIMITED | Consumer Staples | 0.13% |
| 63 | Solar Industries India Limited | Materials | 0.13% |
| 64 | GMR AIRPORTS LIMITED | Services | 0.11% |
| 65 | Godrej Properties Limited | Real Estate | 0.11% |
| 66 | One 97 Communications Limited | Financial Services | 0.1% |
| 67 | InterGlobe Aviation Limited | Services | 0.1% |
| 68 | Torrent Pharmaceuticals Limited | Healthcare | 0.08% |
| 69 | Titan Company Limited | Consumer Discretionary | 0.07% |
| 70 | SBI Cards and Payment Services Limited | Financial Services | 0.04% |
| 71 | JSW Steel Limited | Materials | 0.04% |
| 72 | Shriram Finance Limited | Financial Services | 0.03% |
| 73 | UPL Limited | Materials | 0.03% |
| 74 | Crompton Greaves Consumer Electricals Limited Futureother | — | -0.02% |
| 75 | Adani Power Limited Futureother | — | -0.03% |
| 76 | UPL Limited Futureother | — | -0.03% |
| 77 | Shriram Finance Limited Futureother | — | -0.03% |
| 78 | JSW Steel Limited Futureother | — | -0.04% |
| 79 | SBI Cards and Payment Services Limited Futureother | — | -0.04% |
| 80 | Titan Company Limited Futureother | — | -0.07% |
| 81 | Torrent Pharmaceuticals Limited Futureother | — | -0.08% |
| 82 | InterGlobe Aviation Limited Futureother | — | -0.1% |
| 83 | One 97 Communications Limited Futureother | — | -0.1% |
| 84 | GMR Airports Limited Futureother | — | -0.11% |
| 85 | Godrej Properties Limited Futureother | — | -0.11% |
| 86 | Solar Industries India Limited Futureother | — | -0.13% |
| 87 | Tata Consumer Products Limited Futureother | — | -0.13% |
| 88 | Hindalco Industries Limited Futureother | — | -0.14% |
| 89 | Power Grid Corporation of India Limited Futureother | — | -0.17% |
| 90 | United Spirits Limited Futureother | — | -0.21% |
| 91 | Crompton Greaves Consumer Electricals Limited Futureother | — | -0.23% |
| 92 | Grasim Industries Limited Futureother | — | -0.26% |
| 93 | Hindustan Aeronautics Limited Futureother | — | -0.27% |
| 94 | Indus Towers Limited Futureother | — | -0.27% |
| 95 | Divi's Laboratories Limited Futureother | — | -0.28% |
| 96 | Tata Motors Passenger Vehicles Limited Futureother | — | -0.33% |
| 97 | Jio Financial Services Limited Futureother | — | -0.35% |
| 98 | HDFC Life Insurance Company Limited Futureother | — | -0.37% |
| 99 | Punjab National Bank Futureother | — | -0.43% |
| 100 | Dabur India Limited Futureother | — | -0.43% |
| 101 | LIC Housing Finance Limited Futureother | — | -0.43% |
| 102 | Pidilite Industries Limited Futureother | — | -0.47% |
| 103 | Indian Energy Exchange Limited Futureother | — | -0.48% |
| 104 | Tata Power Company Limited Futureother | — | -0.49% |
| 105 | IDFC First Bank Limited Futureother | — | -0.58% |
| 106 | NTPC Limited Futureother | — | -0.68% |
| 107 | Infosys Limited Futureother | — | -0.7% |
| 108 | Ambuja Cements Limited Futureother | — | -0.77% |
| 109 | Asian Paints Limited Futureother | — | -0.77% |
| 110 | Bandhan Bank Limited Futureother | — | -0.77% |
| 111 | Larsen & Toubro Limited Futureother | — | -0.84% |
| 112 | Coforge Limited Futureother | — | -0.86% |
| 113 | Reliance Industries Limited Futureother | — | -1.02% |
| 114 | HDFC Bank Limited Futureother | — | -1.04% |
| 115 | Steel Authority of India Limited Futureother | — | -1.18% |
| 116 | Eicher Motors Limited Futureother | — | -1.2% |
| 117 | Yes Bank Limited Futureother | — | -1.26% |
| 118 | Tata Steel Limited Futureother | — | -1.31% |
| 119 | SBI Life Insurance Company Limited Futureother | — | -1.38% |
| 120 | State Bank of India Futureother | — | -1.42% |
| 121 | Axis Bank Limited Futureother | — | -1.47% |
| 122 | Bajaj Finance Limited Futureother | — | -1.61% |
| 123 | Adani Power Limited Futureother | — | -1.61% |
| 124 | Bank of Baroda Futureother | — | -1.63% |
| 125 | Mahindra & Mahindra Limited Futureother | — | -1.86% |
| 126 | Biocon Limited Futureother | — | -2.03% |
| 127 | ITC Limited Futureother | — | -2.04% |
| 128 | UltraTech Cement Limited Futureother | — | -2.08% |
| 129 | Canara Bank Futureother | — | -3.19% |
| 130 | ICICI Bank Limited Futureother | — | -3.45% |
| 131 | Adani Enterprises Limited Futureother | — | -4.05% |
| 132 | Sun Pharmaceutical Industries Limited Futureother | — | -4.24% |
| 133 | HDFC Bank Limited Futureother | — | -4.58% |
| 134 | Reliance Industries Limited Futureother | — | -5.49% |
| 135 | Bharti Airtel Limited Futureother | — | -5.76% |
| 136 | Vodafone Idea Limited Futureother | — | -6.09% |
| 137 | Kotak Mahindra Bank Limited Futureother | — | -7.11% |
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: NJ Mutual Fund's SEBI-mandated monthly portfolio disclosure, dated 30 September 2026. Data is for information only, not investment advice. Holdings may have changed since the disclosure date.