holdings

HDFC Arbitrage Fund Direct-Growth

Hybrid: Arbitrage - Growth (Open ended)

HDFC Arbitrage Fund Direct-GrowthNAV: 21.53 as on 06 Jul, 2026

Risk levelCategoryBenchmark

Factsheet

SEBI Riskometer: LowCategory: Hybrid: ArbitrageBenchmark: NIFTY 50 Arbitrage Total Return Index

NAV: ₹21.53+0.05%

07 Jul 2026

Holdings Analysis

Equity, debt and cash allocation snapshot with market cap distribution for HDFC Arbitrage Fund Direct-Growth.

Asset Allocation

As on 31 May 2026

Others

71.18%

Debt

29.40%

Market Cap Distribution

Large Cap (81.0%)

Mid Cap (16.6%)

Small Cap (2.4%)

Historical Asset Allocation

Asset	31 May 2026	30 Apr 2026	31 Mar 2026	28 Feb 2026	31 Jan 2026	31 Dec 2025
Equity	-0.59%	-0.34%	-0.24%	-0.32%	-0.25%	-0.41%
Debt	29.40%	31.71%	33.82%	31.16%	22.19%	20.61%
Others (incl. cash)	71.18%	68.63%	66.42%	69.16%	78.06%	79.80%
Commodities	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Real Estate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Portfolio Snapshot

No. of Securities

186

P/E Ratio

23.45

P/B Ratio

2.90

Top Holding %

70.47%

Top 5 Holdings %

93.25%

Top 10 Holdings %

106.51%

Modified Duration

0.54 yrs

Avg. Maturity

0.59 yrs

Yield to Maturity

7.59%

AUM

₹25,085 Cr

Expense Ratio

1.51%

Since Inception

6.46%

Max Drawdown

-0.01%

Sharpe Ratio

2.62

Top Portfolio Holdings by Weight

Latest portfolio holdings sorted by allocation weight. Includes instrument name, sector, number of shares, market value (₹ Cr) and percentage of net assets. Switch dates or categories using the controls below.

Instrument	Sector	No. of Shares	Value (Rs. Cr)	Weight	Change
HDFC Bank Ltd.	Financial	2,08,63,200	1,553.37	6.19%	-0.35%↓
Reliance Industries Ltd.	Energy	83,55,000	1,103.86	4.40%	-0.19%↓
ICICI Bank Ltd.	Financial	78,96,700	992.14	3.96%	0.60%↑
Bharti Airtel Ltd.	Communication	33,39,250	610.75	2.43%	-0.28%↓
JSW Steel Ltd.	Metals & Mining	47,39,175	605.67	2.41%	-0.09%↓
Grasim Industries Ltd.	Materials	18,20,750	568.51	2.27%	0.18%↑
Axis Bank Ltd.	Financial	41,26,875	530.96	2.12%	0.32%↑
NTPC Ltd.	Energy	1,16,76,000	451.74	1.80%	0.26%↑
Tata Steel Ltd.	Metals & Mining	2,14,22,500	445.63	1.78%	0.09%↑
Mahindra & Mahindra Ltd.	Automobile	12,91,200	393.25	1.57%	-0.22%↓
Bharat Electronics Ltd.	Capital Goods	91,15,725	374.43	1.49%	0.04%↑
Bharat Heavy Electricals Ltd.	Capital Goods	88,67,250	369.54	1.47%	0.29%↑
Titan Company Ltd.	Consumer Discretionary	7,98,525	325.39	1.30%	-0.17%↓
ITC Ltd.	Consumer Staples	1,13,30,475	325.07	1.30%	-0.81%↓
Maruti Suzuki India Ltd.	Automobile	2,11,900	278.16	1.11%	-0.18%↓
State Bank of India	Financial	26,69,250	257.42	1.03%	0.85%↑
Kotak Mahindra Bank Ltd.	Financial	65,92,000	253.26	1.01%	-0.21%↓
JIO Financial Services Ltd.	Financial	98,91,150	236.35	0.94%	-0.13%↓
Shriram Finance Ltd	Financial	24,01,575	227.47	0.91%	0.03%↑
Canara Bank	Financial	1,64,43,000	215.07	0.86%	0.44%↑

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Sector-wise Portfolio Allocation

Equity exposure by sector as a percentage of total net assets, tracked across recent portfolio dates. Identifies concentration risk and sector rotation trends in the fund's holdings.

Sector	31 Mar 2026	28 Feb 2026	31 Jan 2026	30 Jun 2025	31 May 2025	30 Nov 2024
Others	0.03%	0.02%	0.02%	-	-	-
Textiles	0.00%	-	-	-	-	-
Services	-	-	-	0.01%	-	-
Communication	-	-	-	0.00%	-	-
Construction	-	-	-	-	0.00%	-
Insurance	-	-	-	-	-	0.04%
Materials	-	-	-	-	-	0.02%

Debt Holdings — Credit Quality Profile

Allocation of debt instruments by credit rating (AAA, AA, A, and below investment grade) as a percentage of net assets, compared against the category average. Higher AAA allocation indicates lower credit risk.

Rating	Fund	Category
Cash	69.37%	50.44%
A1+	24.30%	16.01%
AAA	2.60%	1.42%
SOV	1.90%	4.53%
Cash & Call Money	1.81%	27.62%
AA	0.41%	0.18%
AA+	0.10%	0.29%
Others	0.05%	0.06%
AA-	0.04%	0.01%

Debt Insights

A detailed look at the debt holdings of this scheme — Is the scheme yielding enough? Includes credit quality, instrument breakdown and SEBI risk classification.

SEBI PRC matrix

Credit risk

	Interest risk
	Low	Moderate	High
Low
Moderate
High

Instruments

Full name	Description	Coupon rate	Maturity	Rating raw	Weight
Indian Overseas Bank	Certificate of Deposit	0.00%	26/02/2027	CARE - A1+	1.13%
Bank Of Baroda	Certificate of Deposit	0.00%	23/12/2026	CARE - A1+	0.96%
Indian Bank	Certificate of Deposit	0.00%	10/12/2026	CRISIL - A1+	0.96%
Export-Import Bank Of India	Certificate of Deposit	0.00%	29/01/2027	CRISIL - A1+	0.95%
Union Bank of India	Certificate of Deposit	0.00%	19/01/2027	ICRA - A1+	0.95%
Small Industries Devp. Bank of India Ltd.	Certificate of Deposit	0.00%	29/01/2027	CARE - A1+	0.95%
Bank Of Baroda	Certificate of Deposit	0.00%	03/02/2027	IND - A1+	0.76%
Punjab National Bank	Certificate of Deposit	0.00%	26/02/2027	CARE - A1+	0.75%
Kotak Mahindra Bank Ltd.	Certificate of Deposit	0.00%	08/01/2027	CRISIL - A1+	0.57%
Punjab National Bank	Certificate of Deposit	0.00%	15/09/2026	CARE - A1+	0.39%
Indian Overseas Bank	Certificate of Deposit	0.00%	18/02/2027	CARE - A1+	0.38%
Canara Bank	Certificate of Deposit	0.00%	29/01/2027	CRISIL - A1+	0.38%
Canara Bank	Certificate of Deposit	0.00%	12/02/2027	CRISIL - A1+	0.38%
National Bank For Agriculture & Rural Development	Certificate of Deposit	0.00%	28/01/2027	IND - A1+	0.38%
Bank Of Baroda	Certificate of Deposit	0.00%	04/02/2027	CARE - A1+	0.38%
Indian Bank	Certificate of Deposit	0.00%	04/12/2026	CRISIL - A1+	0.38%
Kotak Mahindra Bank Ltd.	Certificate of Deposit	0.00%	12/02/2027	CRISIL - A1+	0.38%
ICICI Bank Ltd.	Certificate of Deposit	0.00%	27/01/2027	ICRA - A1+	0.38%
ICICI Bank Ltd.	Certificate of Deposit	0.00%	12/02/2027	ICRA - A1+	0.38%
Bank Of Baroda	Certificate of Deposit	0.00%	25/01/2027	CARE - A1+	0.38%
Union Bank of India	Certificate of Deposit	0.00%	24/03/2027	IND - A1+	0.37%
LIC Housing Finance Ltd.	Privately Placed Debts	8.47%	10/06/2026	CRISIL - AAA	0.26%
Axis Bank Ltd.	Certificate of Deposit	0.00%	14/01/2027	CRISIL - A1+	0.19%
Canara Bank	Certificate of Deposit	0.00%	02/03/2027	CRISIL - A1+	0.19%
Punjab National Bank	Certificate of Deposit	0.00%	09/02/2027	CRISIL - A1+	0.19%
Union Bank of India	Certificate of Deposit	0.00%	0	IND - A1+	0.09%
LIC Housing Finance Ltd.	Debenture	8.47%	15/06/2026	CRISIL - AAA	0.08%

Frequently Asked Questions

What are the top holdings of HDFC Arbitrage Fund Direct-Growth?

The top holdings of HDFC Arbitrage Fund Direct-Growth sorted by portfolio weight are listed in the Top Portfolio Holdings section of the Holdings tab.

How many stocks does HDFC Arbitrage Fund Direct-Growth hold in its portfolio?

HDFC Arbitrage Fund Direct-Growth holds 186 securities in its portfolio. The top 5 holdings account for 93.25% of the portfolio and the top 10 for 106.51% — a well-diversified portfolio that minimises stock-specific risk.

What is the sector allocation of HDFC Arbitrage Fund Direct-Growth?

The sector allocation of HDFC Arbitrage Fund Direct-Growth is in the Sector Allocation section, showing each industry's weight in the portfolio.

What is the equity and debt allocation of HDFC Arbitrage Fund Direct-Growth?

As of 31 May 2026, HDFC Arbitrage Fund Direct-Growth has -0.59% in equity, 29.40% in debt and 71.18% in cash/others. This asset mix determines the fund's overall risk-return profile. The debt portfolio has a yield to maturity (YTM) of 7.59%.

What is the market cap allocation of HDFC Arbitrage Fund Direct-Growth?

HDFC Arbitrage Fund Direct-Growth's equity portfolio — Large Cap: 80.97%, Mid Cap: 16.63%, Small Cap: 2.40%. Market cap allocation determines the fund's risk profile — large cap offers stability while mid and small cap offer higher growth potential with higher volatility.

Is HDFC Arbitrage Fund Direct-Growth a concentrated or diversified fund?

HDFC Arbitrage Fund Direct-Growth holds 186 securities, with the top 10 accounting for 106.51% of the portfolio and the top 5 for 93.25%. With 186 holdings, this is a well-diversified fund — stock-specific risk is limited.

What is the credit quality of HDFC Arbitrage Fund Direct-Growth?

The debt holdings of HDFC Arbitrage Fund Direct-Growth are rated as follows — Cash: 69.37%, A1+: 24.30%, AAA: 2.60%, SOV: 1.90%, and others. Higher allocation to AAA and sovereign instruments means lower credit risk. The full rating profile compared to the category average is in the Credit Rating section.

How often does HDFC Arbitrage Fund Direct-Growth change its portfolio?

The portfolio currently holds 186 securities with the top 10 accounting for 106.51% as of 31 May 2026. Portfolio turnover reflects how actively the fund manager trades. A high turnover increases transaction costs while a low turnover reflects a buy-and-hold approach. Historical asset allocation snapshots across multiple dates are in the Holdings Analysis section.

What is the PE ratio of HDFC Arbitrage Fund Direct-Growth's portfolio?

The weighted average PE ratio of HDFC Arbitrage Fund Direct-Growth's portfolio is 23.45 and the PB ratio is 2.90. The debt portfolio has a modified duration of 0.54 years and an average maturity of 0.59 years. These metrics reflect the overall valuation and interest rate sensitivity of the portfolio.

When is the latest portfolio disclosure for HDFC Arbitrage Fund Direct-Growth?

The latest portfolio disclosure for HDFC Arbitrage Fund Direct-Growth is as of 31 May 2026. Mutual funds and ETFs in India are required to disclose their full portfolio monthly, within 10 business days of month-end. You can switch between historical disclosure dates using the date selector in the Top Portfolio Holdings section.

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Asset

31 May 2026

30 Apr 2026

31 Mar 2026

28 Feb 2026

31 Jan 2026

31 Dec 2025

Equity

-0.59%

-0.34%

-0.24%

-0.32%

-0.25%

-0.41%

Debt

29.40%

31.71%

33.82%

31.16%

22.19%

20.61%

Others (incl. cash)

71.18%

68.63%

66.42%

69.16%

78.06%

79.80%

Commodities

0.00%

Real Estate

0.00%

Instrument

Sector

No. of Shares

Value (Rs. Cr)

Weight

Change

HDFC Bank Ltd.

Financial

2,08,63,200

1,553.37

6.19%

-0.35%↓

Reliance Industries Ltd.

Energy

83,55,000

1,103.86

4.40%

-0.19%↓

ICICI Bank Ltd.

Financial

78,96,700

992.14

3.96%

0.60%↑

Bharti Airtel Ltd.

Communication

33,39,250

610.75

2.43%

-0.28%↓

JSW Steel Ltd.

Metals & Mining

47,39,175

605.67

2.41%

-0.09%↓

Grasim Industries Ltd.

Materials

18,20,750

568.51

2.27%

0.18%↑

Axis Bank Ltd.

Financial

41,26,875

530.96

2.12%

0.32%↑

NTPC Ltd.

Energy

1,16,76,000

451.74

1.80%

0.26%↑

Tata Steel Ltd.

Metals & Mining

2,14,22,500

445.63

1.78%

0.09%↑

Mahindra & Mahindra Ltd.

Automobile

12,91,200

393.25

1.57%

-0.22%↓

Bharat Electronics Ltd.

Capital Goods

91,15,725

374.43

1.49%

0.04%↑

Bharat Heavy Electricals Ltd.

Capital Goods

88,67,250

369.54

1.47%

0.29%↑

Titan Company Ltd.

Consumer Discretionary

7,98,525

325.39

1.30%

-0.17%↓

ITC Ltd.

Consumer Staples

1,13,30,475

325.07

1.30%

-0.81%↓

Maruti Suzuki India Ltd.

Automobile

2,11,900

278.16

1.11%

-0.18%↓

State Bank of India

Financial

26,69,250

257.42

1.03%

0.85%↑

Kotak Mahindra Bank Ltd.

Financial

65,92,000

253.26

1.01%

-0.21%↓

JIO Financial Services Ltd.

Financial

98,91,150

236.35

0.94%

-0.13%↓

Shriram Finance Ltd

Financial

24,01,575

227.47

0.91%

0.03%↑

Canara Bank

Financial

1,64,43,000

215.07

0.86%

0.44%↑

Sector

31 Mar 2026

28 Feb 2026

31 Jan 2026

30 Jun 2025

31 May 2025

30 Nov 2024

Others

0.03%

0.02%

Textiles

0.00%

Services

0.01%

Communication

0.00%

Construction

0.00%

Insurance

0.04%

Materials

0.02%

Rating

Fund