Parag Parikh Arbitrage Fund
PPFAS Mutual Fund·Arbitrage Fund·vs Nifty 50 Arbitrage TRI
The fund maintains its core positioning around banking sector arbitrage, with financial stocks comprising over 27 percent of the portfolio while cash reserves via its in-house liquid fund provide settlement flexibility. Recent pruning of pharma and energy holdings in favor of banking heavyweights signals management's conviction in capturing valuation spreads within the financial sector. The shift reflects a tactical tilt toward lower volatility arbitrage opportunities rather than a fundamental pivot in strategy.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Primary | ₹11.7791 | +0.30% | +1.35% | +2.92% | +5.89% | — | — |
Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.
Portfolio Metrics(latest month)
Holdings
72
Top 5 Weight
37.15%
Top 10 Weight
54.26%
Active Share
—
Large Cap
50.85%
Gini
0.614
What Changed2026-03-31 → 2026-04-30
Holdings: 85 → 73+1 added−13 removed33 weight shifts ≥ 0.1%
| Stock | Weight |
|---|---|
| Cipla Limited | 0.05% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Parag Parikh Liquid Fund- Direct Plan- Growth INF879O01068 | 16.08% |
| 2 | HDFC Bank Limited INE040A01034 | 6.11% |
| 3 | Axis Bank Limited INE238A01034 | 5.14% |
| 4 | ICICI Bank Limited INE090A01021 | 4.99% |
| 5 | Bharti Airtel Limited INE397D01024 | 4.83% |
| 6 | Reliance Industries Limited INE002A01018 | 4.66% |
| 7 | Kotak Mahindra Bank Limited INE237A01036 | 3.97% |
| 8 | Mahindra & Mahindra Limited INE101A01026 | 3.00% |
| 9 | Bharat Heavy Electricals Limited INE257A01026 | 2.94% |
| 10 | Tata Steel Limited INE081A01020 | 2.54% |
| 11 | State Bank of India INE062A01020 | 2.14% |
| 12 | NMDC Limited INE584A01023 | 2.11% |
| 13 | Kotak Securities Limited (27/05/2026) INE028E14VE6 | 2.10% |
| 14 | Small Industries Dev Bank of India (09/07/2026) INE556F16BJ9 | 2.08% |
| 15 | Axis Bank Limited (11/08/2026) INE238AD6BD9 | 2.07% |
| 16 | Canara Bank (08/01/2027) INE476A16F94 | 2.01% |
| 17 | Indian Bank (12/01/2027) INE562A16QE7 | 2.01% |
| 18 | TRP_040526 nan | 1.88% |
| 19 | Shriram Finance Limited INE721A01047 | 1.57% |
| 20 | Bharat Electronics Limited INE263A01024 | 1.39% |
Sector Allocation
Banks27.8%
CRISIL A1+11.3%
Telecom - Services4.8%
Petroleum Products4.7%
Automobiles4.2%
Finance3.5%
Ferrous Metals3.3%
CARE A1+3.1%
Electrical Equipment3.1%
Aerospace & Defense2.3%
Top 10 sectors by % to NAV. Excludes derivatives.