WhiteOak Capital Arbitrage Fund
WhiteOak's arbitrage strategy remains anchored in financial services and telecom, with meaningful cash equivalents through internal fund holdings providing liquidity buffers. The substantial portfolio churn—62 new entries against 17 exits—signals active opportunistic positioning across a broadened opportunity set, though the manager trimmed overweight positions in HDFC Bank, suggesting tactical profit-taking rather than conviction shifts. The persistent concentration in banks and defensive sectors reflects the fund's focus on low-volatility, merger-driven arb opportunities aligned with its hybrid mandate.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Primary | ₹11.1120 | +0.33% | +6.15% | — | — |
Portfolio Metrics(latest month)
vs Category Peers
Active Stock PickerActive 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 |
|---|---|
| Muthoot Finance Limited | 1.40% |
| Indian Bank | 0.88% |
| Infosys Limited | 0.69% |
| InterGlobe Aviation Limited | 0.58% |
| Hindustan Petroleum Corporation Limited | 0.54% |
| Hitachi Energy India Limited | 0.51% |
| Union Bank of India | 0.49% |
| PG Electroplast Limited | 0.47% |
| Bharat Heavy Electricals Limited | 0.47% |
| SBI Cards and Payment Services Limited | 0.43% |
| Persistent Systems Limited | 0.41% |
| Motilal Oswal Financial Services Limited | 0.41% |
| Petronet LNG Limited | 0.40% |
| Bharat Forge Limited | 0.40% |
| Polycab India Limited | 0.35% |
| Jindal Steel Limited | 0.35% |
| KEI Industries Limited | 0.33% |
| RBL Bank Limited | 0.33% |
| REC Limited | 0.32% |
| Godfrey Phillips India Limited | 0.32% |
| Avenue Supermarts Limited | 0.29% |
| Nippon Life India Asset Management Limited | 0.29% |
| Info Edge (India) Limited | 0.28% |
| APL Apollo Tubes Limited | 0.28% |
| Voltas Limited | 0.28% |
| Oberoi Realty Limited | 0.27% |
| Oil India Limited | 0.26% |
| Power Grid Corporation of India Limited | 0.22% |
| Lupin Limited | 0.19% |
| PB Fintech Limited | 0.19% |
| Indian Renewable Energy Development Agency Limited | 0.18% |
| Manappuram Finance Limited | 0.16% |
| SRF Limited | 0.16% |
| Astral Limited | 0.16% |
| Vishal Mega Mart Limited | 0.15% |
| Dabur India Limited | 0.14% |
| Nuvama Wealth Management Limited | 0.14% |
| Tech Mahindra Limited | 0.11% |
| Tata Elxsi Limited | 0.10% |
| The Phoenix Mills Limited | 0.09% |
| Dixon Technologies (India) Limited | 0.08% |
| Indian Railway Finance Corporation Limited | 0.08% |
| Cochin Shipyard Limited | 0.08% |
| HCL Technologies Limited | 0.08% |
| KFin Technologies Limited | 0.07% |
| Mphasis Limited | 0.07% |
| Godrej Consumer Products Limited | 0.06% |
| PI Industries Limited | 0.05% |
| Amber Enterprises India Limited | 0.04% |
| Bajaj Holdings & Investment Limited | 0.03% |
| Trent Limited | 0.03% |
| Supreme Industries Limited | 0.03% |
| Havells India Limited | 0.01% |
| Kotak Mahindra Bank Limited (31/08/2026) ** # | 1.96% |
| HDFC Bank Limited (09/03/2027) ** # | 1.89% |
| 91 Days Tbill (MD 09/07/2026) | 0.40% |
| 91 Days Tbill (MD 16/07/2026) | 0.40% |
| 364 Days Tbill (MD 23/07/2026) | 0.40% |
| 182 Days Tbill (MD 13/08/2026) | 0.40% |
| 182 Days Tbill (MD 27/08/2026) | 0.39% |
| 182 Days Tbill (MD 03/09/2026) | 0.39% |
| 182 Days Tbill (MD 10/09/2026) | 0.39% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | WhiteOak Capital Liquid Fund- Direct plan-GR INF03VN01043 | 6.48% |
| 2 | Vodafone Idea Limited INE669E01016 | 4.70% |
| 3 | WhiteOak Cap Ultra Short Dur Fund- Dir pl-Gr Op INF03VN01209 | 4.26% |
| 4 | NTPC Limited INE733E01010 | 3.03% |
| 5 | HDFC Bank Limited INE040A01034 | 2.93% |
| 6 | Bharti Airtel Limited INE397D01024 | 2.68% |
| 7 | Axis Bank Limited INE238A01034 | 2.23% |
| 8 | Reliance Industries Limited INE002A01018 | 2.17% |
| 9 | Kotak Mahindra Bank Limited (31/08/2026) ** # INE237AD6075 | 1.96% |
| 10 | Bank of Baroda (16/09/2026) # INE028A16KC6 | 1.96% |
| 11 | Axis Bank Limited (11/09/2026) ** # INE238AD6BQ1 | 1.96% |
| 12 | HDFC Bank Limited (09/03/2027) ** # INE040A16IT9 | 1.89% |
| 13 | TVS Motor Company Limited INE494B01023 | 1.86% |
| 14 | Hindalco Industries Limited INE038A01020 | 1.76% |
| 15 | Adani Enterprises Limited INE423A01024 | 1.63% |
| 16 | Sun Pharmaceutical Industries Limited INE044A01036 | 1.41% |
| 17 | Angel One Limited INE732I01021 | 1.41% |
| 18 | Muthoot Finance Limited INE414G01012 | 1.40% |
| 19 | Larsen & Toubro Limited INE018A01030 | 1.37% |
| 20 | The Federal Bank Limited INE171A01029 | 1.36% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does WhiteOak Capital Arbitrage Fund hold?
WhiteOak Capital Arbitrage Fund holds 149 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 21.40% of NAV.
What is the largest holding in WhiteOak Capital Arbitrage Fund?
The largest position in WhiteOak Capital Arbitrage Fund is WhiteOak Capital Liquid Fund- Direct plan-GR, accounting for 6.48% of NAV.
Is WhiteOak Capital Arbitrage Fund a concentrated or diversified fund?
With a Gini coefficient of 0.536, WhiteOak Capital Arbitrage Fund is moderately concentrated. The HHI concentration index is 18,233 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 21.40% of the portfolio.
What is the market cap allocation of WhiteOak Capital Arbitrage Fund?
Based on SEBI's AMFI classification, WhiteOak Capital Arbitrage Fund's equity portfolio is split as: Large Cap: 42.02%, Mid Cap: 24.26%, Small Cap: 2.87%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does WhiteOak Capital Arbitrage Fund invest in most?
WhiteOak Capital Arbitrage Fund has the highest allocation to Banks (12.13%), Telecom - Services (8.16%), CRISIL A1+ (6.98%). The fund is invested across 43 sectors in total.
How actively managed is WhiteOak Capital Arbitrage Fund compared to other Arbitrage Fund funds?
WhiteOak Capital Arbitrage Fund has an Active Share of 66.36%, classifying it as "Active Stock Picker" among 34 Arbitrage Fund peers. This indicates a moderate level of differentiation from category peers.
What changed in WhiteOak Capital Arbitrage Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, WhiteOak Capital Arbitrage Fund added 62 new stocks (including Muthoot Finance Limited) and exited 17 stocks (including NHPC Limited). Total holding count increased from 106 to 151 stocks.