Scheme

HSBC Arbitrage Fund

Holds 144 companies worth ₹2,509 Cr in Sept 2026.

Fund house
HSBCThe fund house that runs this scheme.
AUM
₹3,633 CrHSBC Arbitrage Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Up 10.5% on Aug 2026, ₹3,288 Cr.
Largest holding
ICICI BankICICI Bank is 5.3% of this scheme's NAV.
Fund manager
Praveen AyathanRuns it since 30 Jun 2014, as the fund house dates it. With Mahesh Chhabria (fund manager), Mohd. Asif Rizwi (fund manager).

Holdings^{(Oct 2015 – Sept 2026)}

Holdings in Sept 2026. Tick up to 2 to plot them.
Plot	144 companies ·	₹ Cr
	ICICI Bank	193
	Reliance Industries	176
	HDFC Bank	174
	STEEL AUTHORITY INDIA LTD	118
	Canara Bank	110
	Adani Power Limited	92.5
	Bandhan Bank Limited	85.7
	Crompton Greaves Cons Electrical Ltd	72.6
	Yes Bank Limited	66.3
	Varun Beverages Limited	63.2
	IDFC Bank Limited	53.3
	Punjab National Bank	52.7
	Godrej Properties	46.4
	Axis Bank	45.9
	HDFC Life Insurance Co Ltd	45.6
	Adani Energy Solutions Limited	44.9
	NMDC	42.6
	JSW Steel	40.3
	Manappuram Finance Limited	38.1
	Indian Energy Exchange Limited	37.8
	Bajaj Finance Limited	35.7
	Glenmark Pharmaceuticals	35.3
	Jio Financial Services Limited	34.2
	Tata Steel Limited	31.8
	Divi s Laboratories Limited	30.2
	State Bank of India	29.9
	Infosys	29
	Ambuja Cement	28.7
	Kalyan Jewellers India Limited	28.5
	ITC	28.4
	LIC Housing Finance	27.3
	AU Small Finance Bank Limited	26.6
	Sun Pharmaceutical Ind Ltd	26.5
	Federal Bank	23.8
	Inox Wind Limited	23.4
	Bharti Infratel	23.2
	National Building Construction Corp	22.7
	Idea Cellular	20.6
	Container Corporation of India Limited	20.4
	Bharat Heavy Electricals	18.8
	Power Finance Corporation	18.5
	Adani Enterprises	17.7
	LIC of India Ltd	16.8
	HDFC Asset Management Co Ltd	15.7
	Cummins India	15.1
	MphasiS	15
	Coal India	14.9
	Biocon	14.3
	Laurus Labs Limited	14
	IndusInd Bank	11

ICICI Bank
Reliance Industries

Market value of each ticked company in HSBC Arbitrage Fund, ₹ crore. Month end. Source: AMC monthly portfolio disclosures.
Month	ICICI Bank	Reliance Industries
Sept 2025	₹154 Cr	₹113 Cr
Oct 2025	₹181 Cr	₹113 Cr
Nov 2025	₹141 Cr	₹101 Cr
Dec 2025	₹161 Cr	₹65.6 Cr
Jan 2026	₹99.1 Cr	₹73 Cr
Feb 2026	₹135 Cr	₹57.7 Cr
Mar 2026	₹159 Cr	₹49 Cr
Apr 2026	₹153 Cr	₹35.4 Cr
May 2026	₹162 Cr	₹55 Cr
Jun 2026	₹127 Cr	₹49.8 Cr
Jul 2026	₹81.3 Cr	₹40.1 Cr
Aug 2026	₹128 Cr	₹43.4 Cr
Sept 2026	₹193 Cr	₹176 Cr

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

Allocation^{(Sept 2026)}

Market cap

		% of NAV
Large Cap	75	43.04

Mid Cap	54	16.12

Small Cap	14	8.98

Other equity	1	0.88

Cash & others		30.98

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.

ICICI Bank	Equity	Banks	14.6L	193	5.32
Reliance Industries	Equity	Petroleum Products	14.8L	176	4.84
HDFC Bank	Equity	Banks	24.5L	174	4.78
STEEL AUTHORITY INDIA LTD	Equity	Ferrous Metals	64.8L	118	3.24
Canara Bank	Equity	Banks	92.4L	110	3.04
Adani Power Limited	Equity	Power	45.3L	92.5	2.55
Bandhan Bank Limited	Equity	Banks	48.1L	85.7	2.36
Crompton Greaves Cons Electrical Ltd	Equity	Consumer Durables	34.8L	72.6	2.00
Yes Bank Limited	Equity	Banks	3.17Cr	66.3	1.83
Varun Beverages Limited	Equity	Beverages	14.6L	63.2	1.74
IDFC Bank Limited	Equity	Banks	65.5L	53.3	1.47
Punjab National Bank	Equity	Banks	46.6L	52.7	1.45
Godrej Properties	Equity	Realty	2.85L	46.4	1.28
Axis Bank	Equity	Banks	3.74L	45.9	1.26
HDFC Life Insurance Co Ltd	Equity	Insurance	8.76L	45.6	1.26
Adani Energy Solutions Limited	Equity	Power	3.42L	44.9	1.24
NMDC	Equity	Minerals & Mining	55.7L	42.6	1.17
JSW Steel	Equity	Ferrous Metals	3.21L	40.3	1.11
Manappuram Finance Limited	Equity	Finance	12.1L	38.1	1.05
Indian Energy Exchange Limited	Equity	Capital Markets	35.3L	37.8	1.04
Bajaj Finance Limited	Equity	Finance	3.72L	35.7	0.98
Glenmark Pharmaceuticals	Equity	Pharmaceuticals & Biotechnology	1.51L	35.3	0.97
Jio Financial Services Limited	Equity	Finance	15.7L	34.2	0.94
Tata Steel Limited	Rights	Ferrous Metals	17.3L	31.8	0.88
Divi s Laboratories Limited	Equity	Pharmaceuticals & Biotechnology	32.5K	30.2	0.83
State Bank of India	Equity	Banks	3.12L	29.9	0.82
Infosys	Equity	IT - Software	2.91L	29	0.80
Ambuja Cement	Equity	Cement & Cement Products	7.68L	28.7	0.79
Kalyan Jewellers India Limited	Equity	Consumer Durables	5.14L	28.5	0.78
ITC	Equity	Diversified FMCG	10.8L	28.4	0.78
LIC Housing Finance	Equity	Finance	5.14L	27.3	0.75
AU Small Finance Bank Limited	Equity	Banks	2.63L	26.6	0.73
Sun Pharmaceutical Ind Ltd	Equity	Pharmaceuticals & Biotechnology	1.46L	26.5	0.73
Federal Bank	Equity	Banks	7.5L	23.8	0.66
Inox Wind Limited	Equity	Electrical Equipment	33.7L	23.4	0.65
Bharti Infratel	Equity	Telecom - Services	6.21L	23.2	0.64
National Building Construction Corp	Equity	Construction	28.9L	22.7	0.62
Idea Cellular	Equity	Telecom - Services	1.59Cr	20.6	0.57
Container Corporation of India Limited	Equity	Transport Services	4.55L	20.4	0.56
Bharat Heavy Electricals	Equity	Electrical Equipment	4.52L	18.8	0.52
Power Finance Corporation	Equity	Finance	5.69L	18.5	0.51
Adani Enterprises	Equity	Metals & Minerals Trading	60.9K	17.7	0.49
LIC of India Ltd	Equity	Insurance	4.26L	16.8	0.46
HDFC Asset Management Co Ltd	Equity	Capital Markets	69K	15.7	0.43
Cummins India	Equity	Industrial Products	31.8K	15.1	0.42
MphasiS	Equity	IT - Software	69.6K	15	0.41
Coal India	Equity	Consumable Fuels	3.5L	14.9	0.41
Biocon	Equity	Pharmaceuticals & Biotechnology	3.85L	14.3	0.39
Laurus Labs Limited	Equity	Pharmaceuticals & Biotechnology	70.6K	14	0.38
IndusInd Bank	Equity	Banks	1.23L	11	0.30
Bharti Airtel Limited	Equity	Telecom - Services	62.7K	11	0.30
Bank of India	Equity	Banks	8.22L	10.7	0.29
Hindustan Unilever	Equity	Diversified FMCG	56.4K	10.6	0.29
Jindal Steel and Power Limited	Equity	Ferrous Metals	88.8K	10.1	0.28
Kotak Mahindra Bank Limited	Equity	Banks	2.26L	9.4	0.26
Indian Hotels Co	Equity	Leisure Services	1.25L	9.1	0.25
Tata Motors	Equity	Automobiles	2.69L	7.6	0.21
Muthoot Finance Limited	Equity	Finance	27.5K	7.5	0.21
Bank of Baroda	Equity	Banks	2.93L	6.7	0.19
Ratnakar Bank Limited	Equity	Banks	1.62L	6.5	0.18
Tata Consumer Products Limited	Equity	Agricultural Food & other Products	66.6K	6.3	0.17
APL Apollo Tubes	Equity	Industrial Products	28K	6.1	0.17
GE Vernova T D India Limited	Equity	Electrical Equipment	13.8K	5.8	0.16
Indian Oil Corp Ltd	Equity	Petroleum Products	3.75L	5.1	0.14
Adani Green Energy Limited	Equity	Power	37.8K	4.8	0.13
GAIL India	Equity	Gas	2.8L	4.8	0.13
Colgate Palmolive I Ltd	Equity	Personal Products	27K	4.8	0.13
PB Fintech Limited	Equity	Financial Technology (Fintech)	43.1K	4.6	0.13
Apollo Hospitals Enterprise Limited	Equity	Healthcare Services	5.25K	4.3	0.12
PNB Housing Finance Limited	Equity	Finance	33.2K	3.7	0.10
Fortis Healthcare Limited	Equity	Healthcare Services	44.2K	3.4	0.090
Bharat Forge	Equity	Auto Components	17.5K	3.4	0.090
Bajaj Holdings and Investment Ltd	Equity	Finance	2.7K	2.9	0.080
Eternal Limited	Equity	Retailing	87.3K	2.8	0.080
Delhivery Limited	Equity	Transport Services	66.4K	2.7	0.070
Sagility India Limited	Equity	IT - Services	6.36L	2.7	0.070
Aditya Birla Capital Limited	Equity	Finance	68.2K	2.6	0.070
Hindalco Industries	Equity	Non - Ferrous Metals	25.9K	2.4	0.070
Sesa Goa	Equity	Diversified Metals	93.2K	2.4	0.070
Suzlon Energy Limited	Equity	Electrical Equipment	6.1L	2.4	0.070
Hindustan Aeronautics Limited	Equity	Aerospace & Defense	4.8K	2.2	0.060
MARUTI SUZUKI INDA LIMITED	Equity	Automobiles	1.8K	2.2	0.060
Dabur India Ltd	Equity	Personal Products	51.3K	2	0.050
Ashok Leyland	Equity	Agricultural, Commercial & Construction Vehicles	1.25L	1.9	0.050
Tech Mahindra	Equity	IT - Software	12.6K	1.9	0.050
Tube Investments of India Ltd	Equity	Auto Components	7.8K	1.9	0.050
Voltas	Equity	Consumer Durables	16.5K	1.8	0.050
Tata Power Co	Equity	Power	43.5K	1.6	0.040
Larsen and Toubro	Equity	Construction	4.03K	1.5	0.040
Coforge Limited	Equity	IT - Software	8.55K	1.5	0.040
SBI Life Insurance Co Ltd	Equity	Insurance	8.63K	1.5	0.040
PG Electroplast Limited	Equity	Consumer Durables	27.6K	1.4	0.040
Marico	Equity	Agricultural Food & other Products	16.8K	1.3	0.040
Bajaj Finserv Limited	Equity	Finance	7.5K	1.3	0.040
Hindustan Petroleum Corp Ltd	Equity	Petroleum Products	36.5K	1.3	0.040
Lupin	Equity	Pharmaceuticals & Biotechnology	5.95K	1.2	0.030
Interglobe Aviation Limited	Equity	Transport Services	2.4K	1.2	0.030
Hitachi Energy India Limited	Equity	Electrical Equipment	350	1.1	0.030
Computer Age Management Services Limited	Equity	Capital Markets	15.7K	1.1	0.030
Avenue Supermarts Limited	Equity	Retailing	2.7K	1	0.030
Bharat Electronics	Equity	Aerospace & Defense	25.7K	1	0.030
ICICI Lombard General Insurance Co	Equity	Insurance	5.85K	0.93	0.030
Cholamandalam DBS Finance	Equity	Finance	5.63K	0.91	0.030
Cipla	Equity	Pharmaceuticals & Biotechnology	6.38K	0.86	0.020
Torrent Pharmaceuticals Limited	Equity	Pharmaceuticals & Biotechnology	1.63K	0.78	0.020
Aurobindo Pharma	Equity	Pharmaceuticals & Biotechnology	4.4K	0.74	0.020
One 97 Communications Limited	Equity	Financial Technology (Fintech)	4.35K	0.73	0.020
Shriram Finance Limited	Equity	Finance	7.43K	0.73	0.020
Amber Enterprises India Limited	Equity	Consumer Durables	1K	0.67	0.020
Union Bank of India	Equity	Banks	35.4K	0.61	0.020
Cadila Healthcare	Equity	Pharmaceuticals & Biotechnology	4.5K	0.52	0.010
SUPREME INDUSTIRES LTD	Equity	Industrial Products	1.23K	0.42	0.010
SBI Cards and Payment Services Limited	Equity	Finance	7.2K	0.42	0.010
Alkem Laboratories Limited	Equity	Pharmaceuticals & Biotechnology	625	0.32	0.010
Power Grid Corporation of India	Equity	Power	11.4K	0.3	0.010
NTPC	Equity	Power	9K	0.29	0.010
Minda Industries Limited	Equity	Auto Components	2.2K	0.26	0.010
ADANI PORT AND SPECIAL ECONOMIC ZONE LTD	Equity	Transport Infrastructure	1.43K	0.26	0.010
SRF	Equity	Chemicals & Petrochemicals	1K	0.25	0.010
Bosch	Equity	Auto Components	50	0.24	0.010
TVS Motor Co Ltd	Equity	Automobiles	525	0.22	0.010
National Aluminium Co Ltd	Equity	Non - Ferrous Metals	5.63K	0.19	0.010
Swiggy Limited	Equity	Retailing	7.3K	0.18	0.00
Bharat Petroleum Corp Ltd	Equity	Petroleum Products	5.93K	0.18	0.00
Bajaj Auto	Equity	Automobiles	150	0.16	0.00
United Spirits	Equity	Beverages	1.2K	0.16	0.00
Patanjali Foods Limited	Equity	Agricultural Food & other Products	4.3K	0.16	0.00
MOTILAL OSWAL FINANCIAL SERVICE LTD	Equity	Capital Markets	1.55K	0.15	0.00
HCL Technologies	Equity	IT - Software	1.2K	0.15	0.00
Vishal Mega Mart Limited	Equity	Retailing	14.6K	0.15	0.00
United Phosphorous	Equity	Fertilizers & Agrochemicals	2.71K	0.15	0.00
Hindustan Zinc	Equity	Non - Ferrous Metals	2.45K	0.14	0.00
Info Edge India Limited	Equity	Retailing	1.1K	0.13	0.00
Nestle India	Equity	Food Products	1K	0.13	0.00
Astral Limited	Equity	Industrial Products	850	0.12	0.00
Max Financial Services Limited	Equity	Insurance	800	0.11	0.00
UltraTech Cement Limited	Equity	Cement & Cement Products	100	0.11	0.00
Bank of Maharashtra	Equity	Banks	13K	0.1	0.00
Motherson Sumi Systems	Equity	Auto Components	6.15K	0.1	0.00
Pidilite Industries	Equity	Chemicals & Petrochemicals	500	0.07	0.00
CG Power and Industrial Solutions Limited	Equity	Electrical Equipment	850	0.07	0.00
Mahindra and Mahindra Limited	Equity	Automobiles	200	0.06	0.00
JSW Energy	Equity	Power	1.08K	0.05	0.00
Oil and Natural Gas Corporation Limited	Equity	Oil	2.25K	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.