WhiteOak Capital Arbitrage Fund
WhiteOak Capital·Arbitrage Fund·vs Nifty 50 Arbitrage TRI
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 | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Primary | ₹11.1080 | +0.36% | +1.42% | +3.04% | +6.11% | — | — |
Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.
Portfolio Metrics(latest month)
Holdings
149
Top 5 Weight
21.40%
Top 10 Weight
32.40%
Active Share
—
Large Cap
42.02%
Gini
0.536
What Changed2026-03-31 → 2026-04-30
Holdings: 106 → 151+62 added−17 removed63 weight shifts ≥ 0.1%
| 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
Banks12.1%
Telecom - Services8.2%
CRISIL A1+7.0%
Sovereign6.8%
Finance6.3%
Automobiles4.8%
Petroleum Products3.7%
Non - Ferrous Metals3.3%
Power3.3%
Capital Markets3.2%
Top 10 sectors by % to NAV. Excludes derivatives.