Scheme

Axis Arbitrage Fund

Holds 150 companies worth ₹7,087 Cr in Sept 2026.

Fund house
AxisThe fund house that runs this scheme.
AUM
₹10,143 CrAxis Arbitrage Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 4.2% on Aug 2026, ₹10,589 Cr.
Largest holding
HDFC BankHDFC Bank is 4.1% of this scheme's NAV.
Fund manager
Devang ShahRuns its co-manager part since 14 Aug 2014, as the fund house dates it. With Sachin Jain (co-manager).

Holdings^{(Aug 2014 – Sept 2026)}

Holdings in Sept 2026. Tick up to 2 to plot them.
Plot	150 companies ·	₹ Cr
	HDFC Bank	413
	ICICI Bank	390
	Reliance Industries	383
	Bharat Heavy Electricals	268
	State Bank of India	267
	Bharti Airtel Limited	226
	Tata Steel Limited	186
	Kotak Mahindra Bank Limited	161
	Bajaj Finance Limited	145
	Cummins India	143
	Axis Bank	141
	Adani Enterprises	133
	Bharat Electronics	132
	Divi s Laboratories Limited	127
	Coal India	121
	Canara Bank	121
	Hindustan Unilever	120
	Hindalco Industries	118
	Infosys	117
	Idea Cellular	116
	Cholamandalam DBS Finance	115
	Bharti Infratel	113
	Jio Financial Services Limited	109
	JSW Steel	106
	Adani Power Limited	103
	Glenmark Pharmaceuticals	94.6
	Manappuram Finance Limited	88.6
	UltraTech Cement Limited	82.6
	STEEL AUTHORITY INDIA LTD	81
	Punjab National Bank	79.9
	Biocon	79.3
	Federal Bank	79.2
	ITC	76.8
	Varun Beverages Limited	73.5
	APL Apollo Tubes	71.2
	LIC Housing Finance	71.1
	LIC of India Ltd	70.5
	HDFC Life Insurance Co Ltd	69
	Apollo Hospitals Enterprise Limited	68.7
	Yes Bank Limited	67
	Crompton Greaves Cons Electrical Ltd	62.5
	NMDC	61.4
	Container Corporation of India Limited	58.8
	Hindustan Aeronautics Limited	48.2
	Bank of Baroda	47.5
	NTPC	47.4
	GE Vernova T D India Limited	47.4
	Adani Energy Solutions Limited	44
	Godrej Properties	42.6
	Indian Hotels Co	41.6

HDFC Bank
ICICI Bank

Market value of each ticked company in Axis Arbitrage Fund, ₹ crore. Month end. Source: AMC monthly portfolio disclosures.
Month	HDFC Bank	ICICI Bank
Sept 2025	₹225 Cr	₹194 Cr
Oct 2025	₹204 Cr	₹162 Cr
Nov 2025	₹304 Cr	₹177 Cr
Dec 2025	₹301 Cr	₹187 Cr
Jan 2026	₹478 Cr	₹342 Cr
Feb 2026	₹486 Cr	₹307 Cr
Mar 2026	₹444 Cr	₹285 Cr
Apr 2026	₹428 Cr	₹310 Cr
May 2026	₹453 Cr	₹401 Cr
Jun 2026	₹401 Cr	₹275 Cr
Jul 2026	₹372 Cr	₹308 Cr
Aug 2026	₹366 Cr	₹366 Cr
Sept 2026	₹413 Cr	₹390 Cr

Fig. 1.Market value of each ticked company in Axis Arbitrage Fund, ₹ crore. Month end. Source: AMC monthly portfolio disclosures.

Allocation^{(Sept 2026)}

Market cap

		% of NAV
Large Cap	79	52.61

Mid Cap	57	12.05

Small Cap	13	3.19

Other equity	1	1.83

Cash & others		30.32

Sectors

Companies

Fig. 2.This scheme's holdings, by market cap, by sector and by company. Hover a slice or a row; click a slice to open it.

Buying and selling, month by month^{(Oct 2025 – Sept 2026)}

Buying and selling, month by month. Change in market value since the previous month, ₹ crore. Month end. Source: AMC monthly portfolio disclosures.

Fig. 3.Change in market value since the previous month, ₹ crore. Month end. Source: AMC monthly portfolio disclosures.

Portfolio^{(Sept 2026)}

Every holding in Sept 2026: its shares, market value (₹ crore) and % of NAV. Month end. Source: AMC monthly portfolio disclosures. Click a column's header to sort by it.

HDFC Bank	Equity	Banks	58.3L	413	4.06
ICICI Bank	Equity	Banks	29.5L	390	3.83
Reliance Industries	Equity	Petroleum Products	32.3L	383	3.77
Bharat Heavy Electricals	Equity	Electrical Equipment	64.5L	268	2.64
State Bank of India	Equity	Banks	27.9L	267	2.63
Bharti Airtel Limited	Equity	Telecom - Services	12.9L	226	2.22
Tata Steel Limited	Rights	Ferrous Metals	1.01Cr	186	1.83
Kotak Mahindra Bank Limited	Equity	Banks	38.6L	161	1.58
Bajaj Finance Limited	Equity	Finance	15.1L	145	1.43
Cummins India	Equity	Industrial Products	2.99L	143	1.40
Axis Bank	Equity	Banks	11.5L	141	1.38
Adani Enterprises	Equity	Metals & Minerals Trading	4.59L	133	1.31
Bharat Electronics	Equity	Aerospace & Defense	33.9L	132	1.30
Divi s Laboratories Limited	Equity	Pharmaceuticals & Biotechnology	1.37L	127	1.25
Coal India	Equity	Consumable Fuels	28.5L	121	1.19
Canara Bank	Equity	Banks	1.01Cr	121	1.19
Hindustan Unilever	Equity	Diversified FMCG	6.37L	120	1.18
Hindalco Industries	Equity	Non - Ferrous Metals	12.5L	118	1.16
Infosys	Equity	IT - Software	11.7L	117	1.15
Idea Cellular	Equity	Telecom - Services	8.93Cr	116	1.14
Cholamandalam DBS Finance	Equity	Finance	7.09L	115	1.13
Bharti Infratel	Equity	Telecom - Services	30.4L	113	1.12
Jio Financial Services Limited	Equity	Finance	50.3L	109	1.07
JSW Steel	Equity	Ferrous Metals	8.44L	106	1.04
Adani Power Limited	Equity	Power	50.3L	103	1.01
Glenmark Pharmaceuticals	Equity	Pharmaceuticals & Biotechnology	4.05L	94.6	0.93
Manappuram Finance Limited	Equity	Finance	28.1L	88.6	0.87
UltraTech Cement Limited	Equity	Cement & Cement Products	75.4K	82.6	0.81
STEEL AUTHORITY INDIA LTD	Equity	Ferrous Metals	44.7L	81	0.80
Punjab National Bank	Equity	Banks	70.6L	79.9	0.79
Biocon	Equity	Pharmaceuticals & Biotechnology	21.4L	79.3	0.78
Federal Bank	Equity	Banks	25L	79.2	0.78
ITC	Equity	Diversified FMCG	29.2L	76.8	0.76
Varun Beverages Limited	Equity	Beverages	17L	73.5	0.72
APL Apollo Tubes	Equity	Industrial Products	3.25L	71.2	0.70
LIC Housing Finance	Equity	Finance	13.4L	71.1	0.70
LIC of India Ltd	Equity	Insurance	17.9L	70.5	0.69
HDFC Life Insurance Co Ltd	Equity	Insurance	13.2L	69	0.68
Apollo Hospitals Enterprise Limited	Equity	Healthcare Services	84.1K	68.7	0.68
Yes Bank Limited	Equity	Banks	3.2Cr	67	0.66
Crompton Greaves Cons Electrical Ltd	Equity	Consumer Durables	29.9L	62.5	0.61
NMDC	Equity	Minerals & Mining	80.2L	61.4	0.60
Container Corporation of India Limited	Equity	Transport Services	13.1L	58.8	0.58
Hindustan Aeronautics Limited	Equity	Aerospace & Defense	1.03L	48.2	0.47
Bank of Baroda	Equity	Banks	20.6L	47.5	0.47
NTPC	Equity	Power	14.7L	47.4	0.47
GE Vernova T D India Limited	Equity	Electrical Equipment	1.13L	47.4	0.47
Adani Energy Solutions Limited	Equity	Power	3.35L	44	0.43
Godrej Properties	Equity	Realty	2.62L	42.6	0.42
Indian Hotels Co	Equity	Leisure Services	5.71L	41.6	0.41
Bharat Forge	Equity	Auto Components	2.16L	41.6	0.41
Ambuja Cement	Equity	Cement & Cement Products	11.1L	41.5	0.41
Adani Green Energy Limited	Equity	Power	3.02L	38.7	0.38
Indian Oil Corp Ltd	Equity	Petroleum Products	26.7L	36	0.35
Astral Limited	Equity	Industrial Products	2.62L	35.9	0.35
MARUTI SUZUKI INDA LIMITED	Equity	Automobiles	28.4K	34	0.33
Ashok Leyland	Equity	Agricultural, Commercial & Construction Vehicles	21.7L	33.4	0.33
Bandhan Bank Limited	Equity	Banks	17.9L	31.8	0.31
Bank of India	Equity	Banks	23.9L	31.2	0.31
Muthoot Finance Limited	Equity	Finance	1.11L	30.4	0.30
Lupin	Equity	Pharmaceuticals & Biotechnology	1.42L	28.7	0.28
Power Finance Corporation	Equity	Finance	8.53L	27.8	0.27
Indian Energy Exchange Limited	Equity	Capital Markets	24.8L	26.6	0.26
SBI Cards and Payment Services Limited	Equity	Finance	4.47L	25.9	0.25
United Phosphorous	Equity	Fertilizers & Agrochemicals	4.44L	24	0.24
Coforge Limited	Equity	IT - Software	1.37L	23.9	0.24
Tata Motors	Equity	Automobiles	8.43L	23.9	0.24
HDFC Asset Management Co Ltd	Equity	Capital Markets	1.02L	23.2	0.23
Tata Consumer Products Limited	Equity	Agricultural Food & other Products	2.25L	21.4	0.21
Swiggy Limited	Equity	Retailing	7.43L	18.6	0.18
Marico	Equity	Agricultural Food & other Products	2.34L	18.4	0.18
Fortis Healthcare Limited	Equity	Healthcare Services	2.35L	18.1	0.18
Union Bank of India	Equity	Banks	10.2L	17.5	0.17
Hitachi Energy India Limited	Equity	Electrical Equipment	5.35K	16.4	0.16
IndusInd Bank	Equity	Banks	1.81L	16.3	0.16
United Spirits	Equity	Beverages	1.18L	16	0.16
Jindal Steel and Power Limited	Equity	Ferrous Metals	1.4L	15.9	0.16
Aurobindo Pharma	Equity	Pharmaceuticals & Biotechnology	84.7K	14.2	0.14
Bajaj Auto	Equity	Automobiles	13K	14.1	0.14
Hindustan Petroleum Corp Ltd	Equity	Petroleum Products	3.99L	14	0.14
Motherson Sumi Systems	Equity	Auto Components	8.18L	13.4	0.13
Torrent Pharmaceuticals Limited	Equity	Pharmaceuticals & Biotechnology	26.4K	12.7	0.12
Info Edge India Limited	Equity	Retailing	97.4K	11.9	0.12
Ratnakar Bank Limited	Equity	Banks	2.83L	11.4	0.11
JSW Energy	Equity	Power	2.27L	11.2	0.11
PNB Housing Finance Limited	Equity	Finance	98.2K	11	0.11
SRF	Equity	Chemicals & Petrochemicals	43.4K	10.7	0.11
AU Small Finance Bank Limited	Equity	Banks	1.03L	10.4	0.10
Laurus Labs Limited	Equity	Pharmaceuticals & Biotechnology	51K	10.1	0.10
PB Fintech Limited	Equity	Financial Technology (Fintech)	92.8K	9.9	0.10
Pidilite Industries	Equity	Chemicals & Petrochemicals	64K	9.4	0.090
Tata Power Co	Equity	Power	2.61L	9.4	0.090
Inox Wind Limited	Equity	Electrical Equipment	12.7L	8.8	0.090
Shriram Finance Limited	Equity	Finance	89.1K	8.8	0.090
MphasiS	Equity	IT - Software	40.2K	8.7	0.090
Asian Paints	Equity	Consumer Durables	36K	8.7	0.090
Max Financial Services Limited	Equity	Insurance	60.8K	8.4	0.080
KEI Industries Limited	Equity	Industrial Products	18.7K	8.3	0.080
Larsen and Toubro	Equity	Construction	17.5K	6.6	0.060
IDFC Bank Limited	Equity	Banks	7.88L	6.4	0.060
TVS Motor Co Ltd	Equity	Automobiles	14K	5.8	0.060
SUPREME INDUSTIRES LTD	Equity	Industrial Products	15.9K	5.5	0.050
Suzlon Energy Limited	Equity	Electrical Equipment	13.6L	5.4	0.050
Hindustan Zinc	Equity	Non - Ferrous Metals	94.3K	5.3	0.050
Tube Investments of India Ltd	Equity	Auto Components	22K	5.2	0.050
Patanjali Foods Limited	Equity	Agricultural Food & other Products	1.32L	4.8	0.050
GAIL India	Equity	Gas	2.63L	4.5	0.040
National Aluminium Co Ltd	Equity	Non - Ferrous Metals	1.26L	4.3	0.040
Mahindra and Mahindra Limited	Equity	Automobiles	13.8K	4.1	0.040
National Building Construction Corp	Equity	Construction	5.14L	4	0.040
Interglobe Aviation Limited	Equity	Transport Services	7.95K	4	0.040
Sesa Goa	Equity	Diversified Metals	1.51L	3.9	0.040
One 97 Communications Limited	Equity	Financial Technology (Fintech)	22.5K	3.8	0.040
Kalyan Jewellers India Limited	Equity	Consumer Durables	67.5K	3.7	0.040
Radico Khaitan Limited	Equity	Beverages	7.5K	3.3	0.030
Sagility India Limited	Equity	IT - Services	6.84L	2.9	0.030
PG Electroplast Limited	Equity	Consumer Durables	50.4K	2.5	0.020
Eternal Limited	Equity	Retailing	77.6K	2.5	0.020
Sun Pharmaceutical Ind Ltd	Equity	Pharmaceuticals & Biotechnology	13.7K	2.5	0.020
Bajaj Finserv Limited	Equity	Finance	14.1K	2.4	0.020
Computer Age Management Services Limited	Equity	Capital Markets	35.5K	2.4	0.020
Page Industries	Equity	Textiles & Apparels	580	2.1	0.020
Bank of Maharashtra	Equity	Banks	2.54L	2	0.020
Delhivery Limited	Equity	Transport Services	47.7K	2	0.020
Cipla	Equity	Pharmaceuticals & Biotechnology	14K	1.9	0.020
Titan Co Ltd	Equity	Consumer Durables	4.03K	1.9	0.020
Dabur India Ltd	Equity	Personal Products	46.3K	1.8	0.020
Oil and Natural Gas Corporation Limited	Equity	Oil	72K	1.6	0.020
Aditya Birla Capital Limited	Equity	Finance	34.1K	1.3	0.010
Godrej Consumer Products	Equity	Personal Products	12.5K	1.1	0.010
Eicher Motors	Equity	Automobiles	1.3K	0.93	0.010
Avenue Supermarts Limited	Equity	Retailing	1.95K	0.74	0.010
Bharat Petroleum Corp Ltd	Equity	Petroleum Products	17.8K	0.54	0.010
Trent	Equity	Retailing	2.03K	0.53	0.010
Colgate Palmolive I Ltd	Equity	Personal Products	2.75K	0.48	0.00
Phoenix Mills Limited	Equity	Realty	2.45K	0.47	0.00
Nestle India	Equity	Food Products	3.5K	0.46	0.00
Oil India	Equity	Oil	8.4K	0.38	0.00
Persistent Systems	Equity	IT - Software	625	0.33	0.00
Indian Bank	Equity	Banks	4K	0.32	0.00
Solar Industries India	Equity	Chemicals & Petrochemicals	150	0.3	0.00
Prestige Estate Project	Equity	Realty	1.35K	0.2	0.00
Power Grid Corporation of India	Equity	Power	7.6K	0.2	0.00
ADANI PORT AND SPECIAL ECONOMIC ZONE LTD	Equity	Transport Infrastructure	475	0.09	0.00
Voltas	Equity	Consumer Durables	750	0.08	0.00
MOTILAL OSWAL FINANCIAL SERVICE LTD	Equity	Capital Markets	775	0.08	0.00
GMR Airport Ltd	Equity	Transport Infrastructure	6.98K	0.07	0.00
DLF	Equity	Realty	950	0.06	0.00
SBI Life Insurance Co Ltd	Equity	Insurance	375	0.06	0.00
Max Healthcare Institute Limited	Equity	Healthcare Services	525	0.05	0.00

Fig. 4.Every holding in Sept 2026: its shares, market value (₹ crore) and % of NAV. Month end. Source: AMC monthly portfolio disclosures.