Funds/Arbitrage Fund/Bajaj Finserv Arbitrage Fund

Bajaj Finserv Arbitrage Fund

Bajaj Finserv Mutual Fund·Arbitrage Fund·vs Nifty 50 Arbitrage TRI

The fund is positioned as a classic arbitrage play, capturing spread opportunities through substantial net receivables exposure while maintaining liquidity via money market and liquid fund holdings. The manager has rotated away from large-cap heavyweights like TCS and SBI toward mid-cap financials and industrials, signalling conviction in capturing wider arbitrage spreads in less-efficient segments. The elevated net receivables position and recent rebalancing toward smaller banks and NBFCs suggest the manager expects persistent market volatility to sustain attractive arbitrage windows.

Portfolio analysis · April 2026

NAV & Returns

Plan	NAV	1M	3M	6M	1Y	3Y CAGR	5Y CAGR
Direct Growth	₹11.9950	—	—	—	—	—	—
Regular Growth	₹11.7730	+0.29%	+1.29%	+2.81%	+5.63%	—	—
Direct IDCW	₹11.9950	—	—	—	—	—	—
Regular IDCW	₹11.7730	—	—	—	—	—	—

Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.

Portfolio Metrics(latest month)

Holdings

120

Top 5 Weight

43.38%

Top 10 Weight

55.48%

Active Share

—

Large Cap

43.49%

Gini

0.706

What Changed2026-03-31 → 2026-04-30

Holdings: 301 → 307+13 added−8 removed237 weight shifts ≥ 0.1%

Stock	Sector	Weight
Infosys Limited	IT - Software	0.86%
Muthoot Finance Limited	Finance	0.42%
PG Electroplast Limited	Consumer Durables	0.27%
Bharat Forge Limited	Auto Components	0.17%
Petronet LNG Limited	Gas	0.14%
KEI Industries Limited	Industrial Products	0.11%
Jindal Steel Limited	Ferrous Metals	0.10%
Oil & Natural Gas Corporation Limited	Oil	0.08%
Adani Enterprises Limited	Metals & Minerals Trading	0.06%
Zydus Lifesciences Limited	Pharmaceuticals & Biotechnology	0.04%
Mankind Pharma Limited	Pharmaceuticals & Biotechnology	0.03%
The Federal Bank Limited	Banks	0.03%
JSW Energy Limited	Power	0.01%

Full Holdings

#	Holding	Sector	Class	% to NAV
1	Net Receivables / (Payables) nan	nan	CASH_EQUIVALENT	67.79%
2	Bajaj Finserv Money Market Fund-Direct Plan-Growth INF0QA701334	nan	MUTUAL_FUND	15.38%
3	Bajaj Finserv Liquid Fund - Direct Plan - Growth INF0QA701011	nan	MUTUAL_FUND	11.54%
4	HDFC Bank Limited INE040A01034	Banks	EQUITY	6.70%
5	Reliance Industries Limited INE002A01018	Petroleum Products	EQUITY	6.01%
6	ICICI Bank Limited INE090A01021	Banks	EQUITY	3.75%
7	Clearing Corporation of India Ltd nan	nan	CASH_EQUIVALENT	3.04%
8	L&T Finance Limited (27/05/2026) INE498L14FN0	CRISIL A1+	DEBT	2.61%
9	Steel Authority of India Limited INE114A01011	Ferrous Metals	EQUITY	2.27%
10	RBL Bank Limited INE976G01028	Banks	EQUITY	2.15%
11	IDFC First Bank Limited INE092T01019	Banks	EQUITY	2.03%
12	Vodafone Idea Limited INE669E01016	Telecom - Services	EQUITY	2.01%
13	ITC Limited INE154A01025	Diversified FMCG	EQUITY	1.73%
14	Mahindra & Mahindra Limited INE101A01026	Automobiles	EQUITY	1.58%
15	Punjab National Bank INE160A01022	Banks	EQUITY	1.55%
16	Hindustan Zinc Limited INE267A01025	Non - Ferrous Metals	EQUITY	1.50%
17	Aditya Birla Capital Limited INE674K01013	Finance	EQUITY	1.44%
18	LIC Housing Finance Limited INE115A01026	Finance	EQUITY	1.27%
19	Bandhan Bank Limited INE545U01014	Banks	EQUITY	1.18%
20	Jio Financial Services Limited INE758E01017	Finance	EQUITY	1.18%

Sector Allocation

nan29.3%

Banks20.1%

Finance8.0%

Petroleum Products6.1%

Telecom - Services3.3%

Ferrous Metals3.0%

Electrical Equipment2.8%

CRISIL A1+2.6%

Automobiles2.2%

Non - Ferrous Metals2.1%

Top 10 sectors by % to NAV. Excludes derivatives.