Old Bridge Arbitrage Fund
Old Bridge's arbitrage strategy remains heavily anchored in net receivables (cash settlement positioning), reflecting typical merger-arbitrage exposure where the fund profits from price convergence gaps. The manager is tactically rotating toward capital goods and metals plays—evidenced by JSW Steel's significant weight increase and new healthcare/pharma entries—suggesting conviction that these sectors offer better arbitrage spreads despite exiting quality consumer names. The elevated cash drag alongside aggressive concentration in the top holdings indicates the fund is selectively deploying capital rather than fully invested, likely waiting for more attractive arbitrage opportunities.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Primary | ₹10.2594 | +0.17% | +1.12% | +2.55% | — | — | — |
Portfolio Metrics(latest month)
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| Apollo Hospitals Enterprise Limited | 0.75% |
| Sun Pharmaceutical Industries Limited | 0.58% |
| CG Power and Industrial Solutions Limited | 0.45% |
| Varun Beverages Ltd | 0.41% |
| Eternal Limited | 0.39% |
| Cipla Limited | 0.22% |
| United Spirits Limited | 0.21% |
| HDFC Asset Management Company Limited | 0.05% |
| Dalmia Bharat Limited | 0.04% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Net Receivables / (Payables) nan | 80.36% |
| 2 | Triparty Repo nan | 10.36% |
| 3 | ICICI Bank Limited INE090A01021 | 6.05% |
| 4 | HDFC Bank Limited INE040A01034 | 4.59% |
| 5 | Bharat Heavy Electricals Limited INE257A01026 | 4.40% |
| 6 | JSW Steel Limited INE019A01038 | 4.34% |
| 7 | Bharti Airtel Limited INE397D01024 | 3.62% |
| 8 | 8.75% Shriram Finance Limited 2026 ** INE721A07RN7 | 3.26% |
| 9 | 182 Days Tbill (MD 14/05/2026) IN002025Y339 | 3.25% |
| 10 | 364 Days Tbill (MD 17/12/2026) IN002025Z385 | 3.15% |
| 11 | Mahindra & Mahindra Limited INE101A01026 | 3.03% |
| 12 | Kotak Mahindra Bank Ltd INE237A01036 | 2.70% |
| 13 | Glenmark Pharmaceuticals Limited INE935A01035 | 2.59% |
| 14 | Jio Financial Services Limited INE758E01017 | 2.30% |
| 15 | IDFC First Bank Limited INE092T01019 | 2.11% |
| 16 | Tata Steel Limited INE081A01020 | 1.97% |
| 17 | Reliance Industries Limited INE002A01018 | 1.87% |
| 18 | Shriram Finance Limited INE721A01047 | 1.82% |
| 19 | Tata Power Company Limited INE245A01021 | 1.81% |
| 20 | HDFC Life Insurance Company Limited INE795G01014 | 1.35% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.