SBI Arbitrage Opportunities Fund
The fund maintains its core arbitrage mandate with heavy banking and financial services exposure, leveraging intra-market spreads while deploying substantial allocations to SBI's own liquid and savings schemes. The month's shifts—rotating out of energy and tech names while deepening SBI holdings—suggest the manager is calibrating exposure to capture near-term fixed income opportunities amid a potentially stable rate environment. With cash hovering around 4% and mutual fund holdings absorbing volatility, the portfolio remains defensively positioned for tactical alpha generation rather than directional equity bets.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Primary | ₹35.5424 | +0.31% | +6.04% | +6.96% | +6.19% |
Portfolio Metrics(latest month)
vs Category Peers
Balanced ApproachActive Share = ½Σ|wfund − wpeer|, computed using leave-one-out peer portfolio within SEBI category.
Similar Funds in Category
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| Jindal Steel Ltd. | 0.16% |
| Infosys Ltd. | 0.11% |
| KEI Industries Ltd. | 0.09% |
| Muthoot Finance Ltd. | 0.06% |
| Supreme Industries Ltd. | 0.05% |
| Swiggy Ltd. | 0.05% |
| Adani Power Ltd. | 0.04% |
| Info Edge (India) Ltd. | 0.03% |
| Persistent Systems Ltd. | 0.03% |
| Voltas Ltd. | 0.02% |
| Oil India Ltd. | 0.02% |
| Astral Ltd. | 0.01% |
| Avenue Supermarts Ltd. | 0.01% |
| Bank of Baroda | 0.44% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | SBI Savings Fund - Direct Plan - Growth Option INF200K01SZ5 | 7.94% |
| 2 | SBI Liquid Fund - Direct Plan - Growth Option INF200K01UT4 | 5.73% |
| 3 | HDFC Bank Ltd. INE040A01034 | 5.24% |
| 4 | TREPS | 4.53% |
| 5 | ICICI Bank Ltd. INE090A01021 | 3.81% |
| 6 | State Bank of India INE062A01020 | 3.34% |
| 7 | SBI Low Duration Fund - Direct Plan - Growth Option INF200K01VM7 | 2.58% |
| 8 | Bharti Airtel Ltd. INE397D01024 | 2.17% |
| 9 | Reliance Industries Ltd. INE002A01018 | 1.87% |
| 10 | JSW Steel Ltd. INE019A01038 | 1.77% |
| 11 | SBI Ultra Short Duration Fund - Direct Plan - Cash Option INF200K01TF5 | 1.64% |
| 12 | Kotak Mahindra Bank Ltd. INE237A01036 | 1.63% |
| 13 | Bharat Electronics Ltd. INE263A01024 | 1.58% |
| 14 | Axis Bank Ltd. INE238A01034 | 1.43% |
| 15 | Adani Enterprises Ltd. INE423A01024 | 1.36% |
| 16 | Hindustan Aeronautics Ltd. INE066F01020 | 1.26% |
| 17 | ITC Ltd. INE154A01025 | 1.24% |
| 18 | Larsen & Toubro Ltd. INE018A01030 | 1.22% |
| 19 | Punjab National Bank INE160A16UD4 | 1.11% |
| 20 | Bank of Baroda INE028A16LG5 | 1.11% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does SBI Arbitrage Opportunities Fund hold?
SBI Arbitrage Opportunities Fund holds 185 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 26.06% of NAV.
What is the largest holding in SBI Arbitrage Opportunities Fund?
The largest position in SBI Arbitrage Opportunities Fund is SBI Savings Fund - Direct Plan - Growth Option, accounting for 7.94% of NAV in the Mutual Fund/ETF sector.
Is SBI Arbitrage Opportunities Fund a concentrated or diversified fund?
With a Gini coefficient of 0.625, SBI Arbitrage Opportunities Fund is moderately concentrated. The HHI concentration index is 20,707 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 26.06% of the portfolio.
What is the market cap allocation of SBI Arbitrage Opportunities Fund?
Based on SEBI's AMFI classification, SBI Arbitrage Opportunities Fund's equity portfolio is split as: Large Cap: 49.72%, Mid Cap: 15.63%, Small Cap: 3.49%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does SBI Arbitrage Opportunities Fund invest in most?
SBI Arbitrage Opportunities Fund has the highest allocation to Banks (18.80%), Mutual Fund/ETF (17.89%), Finance (6.63%). The fund is invested across 49 sectors in total.
How actively managed is SBI Arbitrage Opportunities Fund compared to other Arbitrage Fund funds?
SBI Arbitrage Opportunities Fund has an Active Share of 44.75%, classifying it as "Balanced Approach" among 34 Arbitrage Fund peers. This indicates a moderate level of differentiation from category peers.
What changed in SBI Arbitrage Opportunities Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, SBI Arbitrage Opportunities Fund added 14 new stocks (including Jindal Steel Ltd.) and exited 15 stocks (including NHPC Ltd.). Total holding count decreased from 189 to 188 stocks.