Franklin India Arbitrage Fund - Direct Plan - Growth

Regular

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.
Direct

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.

Category : Arbitrage Fund

Fund House : Franklin Templeton Mutual Fund

Equity Holding : 76.66% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 76.66%

No of Stocks : 84 (Category Avg - 142.18) | Large Cap Investments : 32.32%| Mid Cap Investments : 22.52% | Small Cap Investments : 2.84% | Other : 19.01%

Portfolio Summary (as on 31st Oct,2025)

Particulars	This Scheme	Category
No. of Stocks	84	111.68
Top 5 Stock Weight	21.36%	22.04%
Top 10 Stock Weight	35.1%	34.22%
Top 3 Sector Weight	28.27%	27.34%

Category - Arbitrage Fund

Particulars	This Scheme	Category
Average mcap (Cr)	83267.67	92200.06
Holdings in large cap stocks	32.32%	39.91%
Holdings in mid cap stocks	22.52%	16.24%
Holdings in small cap stocks	2.84%	4.17%

Category - Arbitrage Fund

Top 10 Stocks holding in Portfolio (as on 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
Sammaan Capital Ltd.	Housing finance company	277.3	5.18%	2.46%	5.18% (Oct 2025)	0% (Nov 2024)	14.71 L	6.62 L
HDFC Bank Ltd.	Private sector bank	260.7	4.87%	-0.37%	5.24% (Sep 2025)	0.7% (Nov 2024)	2.64 L	0.00
Reliance Industries Ltd.	Refineries & marketing	218.5	4.08%	0.18%	4.08% (Oct 2025)	0.97% (Jun 2025)	1.47 L	10.00 k
Vodafone Idea Ltd.	Telecom - cellular & fixed line services	203.4	3.80%	-0.16%	4.16% (Apr 2025)	0% (Nov 2024)	2.33 Cr	0.00
RBL Bank Ltd.	Private sector bank	183.4	3.43%	0.17%	6.27% (Jun 2025)	0% (Nov 2024)	5.62 L	0.00
Eternal Ltd.	E-retail/ e-commerce	181.9	3.40%	0.08%	3.4% (Oct 2025)	0% (Nov 2024)	5.72 L	84.88 k
Indus Towers Ltd.	Telecom - infrastructure	166.3	3.11%	1.13%	3.11% (Oct 2025)	0% (Nov 2024)	4.57 L	1.82 L
One 97 Communications Ltd.	Financial technology (fintech)	137.9	2.58%	0.09%	2.93% (May 2025)	0% (Nov 2024)	1.06 L	0.00
Axis Bank Ltd.	Private sector bank	125.6	2.35%	-0.06%	3.17% (Jan 2025)	0.26% (May 2025)	1.02 L	0.00
ICICI Bank Ltd.	Private sector bank	123.4	2.30%	0.02%	3.65% (Feb 2025)	1.19% (Jun 2025)	91.70 k	10.50 k

- indicates change in weight in the portfolio. # indicates a new entry.

View complete holding

Complete equity Portfolio (as on 31st Oct,2025)

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Sector
M-Cap

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Stock Invested in	Sector	Sector Total	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty	M-Cap	GroupName
Sammaan Capital Ltd.	Housing finance company	6.58	277.3	5.18%	2.46%	5.18% (Oct 2025)	0% (Nov 2024)	14.71 L	6.62 L	Mid Cap	22.52
HDFC Bank Ltd.	Private sector bank	16.81	260.7	4.87%	-0.37%	5.24% (Sep 2025)	0.7% (Nov 2024)	2.64 L	0.00	Other	19.01
Reliance Industries Ltd.	Refineries & marketing	4.39	218.5	4.08%	0.18%	4.08% (Oct 2025)	0.97% (Jun 2025)	1.47 L	10.00 k	Large Cap	32.32
Vodafone Idea Ltd.	Telecom - cellular & fixed line services	4.88	203.4	3.80%	-0.16%	4.16% (Apr 2025)	0% (Nov 2024)	2.33 Cr	0.00	Large Cap	32.32
RBL Bank Ltd.	Private sector bank	16.81	183.4	3.43%	0.17%	6.27% (Jun 2025)	0% (Nov 2024)	5.62 L	0.00	Mid Cap	22.52
Eternal Ltd.	E-retail/ e-commerce	3.4	181.9	3.40%	0.08%	3.4% (Oct 2025)	0% (Nov 2024)	5.72 L	84.88 k	Other	19.01
Indus Towers Ltd.	Telecom - infrastructure	3.55	166.3	3.11%	1.13%	3.11% (Oct 2025)	0% (Nov 2024)	4.57 L	1.82 L	Large Cap	32.32
One 97 Communications Ltd.	Financial technology (fintech)	2.66	137.9	2.58%	0.09%	2.93% (May 2025)	0% (Nov 2024)	1.06 L	0.00	Other	19.01
Axis Bank Ltd.	Private sector bank	16.81	125.6	2.35%	-0.06%	3.17% (Jan 2025)	0.26% (May 2025)	1.02 L	0.00	Large Cap	32.32
ICICI Bank Ltd.	Private sector bank	16.81	123.4	2.30%	0.02%	3.65% (Feb 2025)	1.19% (Jun 2025)	91.70 k	10.50 k	Large Cap	32.32
State Bank Of India	Public sector bank	3.56	120.9	2.26%	-0.09%	2.35% (Sep 2025)	0% (Nov 2024)	1.29 L	0.00	Large Cap	32.32
Nestle India Ltd.	Packaged foods	1.95	104.3	1.95%	0.61%	1.96% (Jun 2025)	0% (Nov 2024)	82.00 k	26.50 k	Other	19.01
Apollo Hospitals Enterprises Ltd.	Hospital	2.04	99.9	1.86%	-0.15%	2.04% (Mar 2025)	0% (Nov 2024)	13.00 k	0.00	Mid Cap	22.52
Multi Commodity Exchange Of India Ltd.	Exchange and data platform	1.98	86.7	1.62%	0.09%	2.4% (Jun 2025)	0% (Nov 2024)	9.38 k	0.00	Small Cap	2.84
Kotak Mahindra Bank Ltd.	Private sector bank	16.81	81.6	1.52%	-0.51%	3.11% (Dec 2024)	0% (Nov 2024)	38.80 k	-0.10 L	Large Cap	32.32
IDFC First Bank Ltd.	Private sector bank	16.81	79.6	1.49%	-0.81%	3.45% (May 2025)	0% (Nov 2024)	9.74 L	-6.03 L	Mid Cap	22.52
Godrej Properties Ltd.	Residential, commercial projects	1.32	70.5	1.32%	0.05%	3.06% (Feb 2025)	0% (Nov 2024)	30.80 k	0.00	Mid Cap	22.52
Tata Consultancy Services Ltd.	Computers - software & consulting	2.85	67.4	1.26%	-0.07%	1.94% (Feb 2025)	0% (Nov 2024)	22.05 k	0.00	Large Cap	32.32
Bharti Airtel Ltd.	Telecom - cellular & fixed line services	4.88	57.6	1.08%	0.16%	3.01% (Nov 2024)	0% (Nov 2024)	28.03 k	4.75 k	Large Cap	32.32
Larsen & Toubro Ltd.	Civil construction	1.01	54.3	1.01%	-0.02%	3% (Nov 2024)	0% (Nov 2024)	13.48 k	0.00	Large Cap	32.32
Aditya Birla Capital Ltd.	Life insurance	1.01	54.3	1.01%	-0.01%	1.02% (Sep 2025)	0% (Nov 2024)	1.67 L	0.00	Mid Cap	22.52
J S W Energy Ltd.	Power generation	1	52.7	0.99%	-0.12%	1.49% (Jun 2025)	0% (Nov 2024)	1.00 L	0.00	Mid Cap	22.52
Tata Consumer Products Ltd.	Tea & coffee	0.95	50.6	0.95%	-0.08%	2.25% (Apr 2025)	0% (Nov 2024)	43.45 k	0.00	Mid Cap	22.52
HCL Technologies Limited	Computers - software & consulting	2.85	49.6	0.93%	-0.30%	1.57% (Jul 2025)	0% (Nov 2024)	32.20 k	-0.10 L	Large Cap	32.32
Punjab National Bank	Public sector bank	3.56	49.2	0.92%	-0.02%	2.14% (Nov 2024)	0.38% (Jun 2025)	4.00 L	0.00	Large Cap	32.32
- Hindalco Industries Ltd.	Aluminium	0.91	48.7	0.91%	0.00%	0.91% (Sep 2025)	0% (Nov 2024)	57.40 k	0.00	Large Cap	32.32
Bharat Electronics Ltd.	Aerospace & defense	2.05	46.2	0.86%	-0.05%	1.74% (Nov 2024)	0% (Nov 2024)	1.08 L	0.00	Mid Cap	22.52
- ITC Limited	Diversified fmcg	0.83	44.4	0.83%	0.00%	2.04% (Feb 2025)	0% (Nov 2024)	1.06 L	6.40 k	Large Cap	32.32
Laurus Labs Ltd.	Pharmaceuticals	1.54	43.8	0.82%	0.01%	1.01% (Jul 2025)	0% (Nov 2024)	45.90 k	0.00	Other	19.01
ABB India Ltd.	Heavy electrical equipment	1.28	43.1	0.80%	-0.09%	2.21% (Mar 2025)	0% (Nov 2024)	8.25 k	0.00	Large Cap	32.32
LIC Housing Finance Ltd.	Housing finance company	6.58	42.3	0.79%	0.55%	1.4% (Nov 2024)	0.05% (Apr 2025)	74.00 k	54.00 k	Mid Cap	22.52
Trent Limited	Speciality retail	0.77	41.3	0.77%	-0.09%	1.19% (Jan 2025)	0% (Nov 2024)	8.80 k	0.00	Mid Cap	22.52
Pidilite Industries Ltd.	Specialty chemicals	0.78	39.7	0.74%	-0.10%	1.45% (Feb 2025)	0% (Nov 2024)	27.50 k	0.00	Large Cap	32.32
Hindustan Aeronautics Ltd.	Aerospace & defense	2.05	39.3	0.73%	-0.10%	1.64% (Dec 2024)	0% (Nov 2024)	8.40 k	0.00	Other	19.01
Patanjali Foods Ltd.	Edible oil	0.69	36.9	0.69%	-0.05%	1.09% (May 2025)	0% (Nov 2024)	61.20 k	0.00	Other	19.01
PNB Housing Finance Ltd.	Housing finance company	6.58	32.6	0.61%	-0.02%	1.17% (May 2025)	0% (Nov 2024)	35.10 k	0.00	Mid Cap	22.52
Bajaj Finserv Ltd	Holding company	0.6	32.4	0.60%	0.16%	1.34% (Nov 2024)	0% (Nov 2024)	15.50 k	5.00 k	Other	19.01
- Coforge Ltd.	Computers - software & consulting	2.85	32	0.60%	0.00%	1.46% (Apr 2025)	0% (Nov 2024)	18.00 k	0.00	Other	19.01
Varun Beverages Ltd.	Other beverages	0.59	31.8	0.59%	-0.03%	0.89% (Feb 2025)	0% (Nov 2024)	67.65 k	0.00	Other	19.01
Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	0.57	30.7	0.57%	0.03%	1.21% (Nov 2024)	0.1% (Jul 2025)	8.80 k	1.20 k	Large Cap	32.32
J S W Steel Ltd.	Iron & steel products	1.57	30.1	0.56%	0.05%	1.24% (Dec 2024)	0% (Nov 2024)	24.98 k	3.38 k	Large Cap	32.32
Jio Financial Services Ltd.	Non banking financial company (nbfc)	0.9	29.6	0.55%	-0.04%	1.12% (Jan 2025)	0% (Nov 2024)	96.35 k	0.00	Other	19.01
Steel Authority Of India Ltd.	Iron & steel products	1.57	28.9	0.54%	-0.05%	1.43% (May 2025)	0% (Nov 2024)	2.12 L	0.00	Mid Cap	22.52
Yes Bank	Private sector bank	16.81	28.3	0.53%	-0.02%	1.57% (Feb 2025)	0% (Nov 2024)	12.44 L	0.00	Other	19.01
Bharat Dynamics Ltd.	Aerospace & defense	2.05	24.9	0.46%	-0.04%	0.51% (Sep 2025)	0% (Nov 2024)	16.25 k	0.00	Other	19.01
Titan Company Ltd.	Gems, jewellery and watches	0.55	24.3	0.45%	0.00%	2.33% (Feb 2025)	0.16% (Nov 2024)	6.48 k	0.00	Large Cap	32.32
HFCL Ltd.	Telecom - infrastructure	3.55	23.7	0.44%	-0.05%	0.49% (Sep 2025)	0% (Nov 2024)	3.23 L	0.00	Small Cap	2.84
NMDC LTD	Industrial minerals	0.44	23.5	0.44%	-0.06%	3.5% (Jan 2025)	0% (Nov 2024)	3.11 L	0.00	Mid Cap	22.52
Petronet LNG Ltd.	Lpg/cng/png/lng supplier	0.43	22.8	0.43%	0.35%	0.43% (Oct 2025)	0% (Nov 2024)	81.00 k	68.40 k	Large Cap	32.32
- Bank Of India	Public sector bank	3.56	20.4	0.38%	0.01%	0.65% (Feb 2025)	0% (Nov 2024)	1.46 L	0.00	Mid Cap	22.52
Manappuram Finance Ltd.	Non banking financial company (nbfc)	0.9	18.6	0.35%	-0.06%	1.05% (Mar 2025)	0% (Nov 2024)	69.00 k	0.00	Mid Cap	22.52
Indusind Bank Ltd.	Private sector bank	16.81	17.3	0.32%	0.31%	3.9% (Dec 2024)	0% (Nov 2024)	21.70 k	21.00 k	Large Cap	32.32
Cipla Ltd.	Pharmaceuticals	1.54	16.9	0.32%	-0.04%	1.62% (Dec 2024)	0% (Nov 2024)	11.25 k	0.00	Large Cap	32.32
Bosch Ltd.	Auto components & equipments	0.34	16.8	0.31%	-0.05%	0.46% (Jul 2025)	0% (Nov 2024)	450.00	0.00	Large Cap	32.32
Hindustan Petroleum Corporation Ltd.	Refineries & marketing	4.39	16.4	0.31%	-0.33%	1.59% (Mar 2025)	0% (Nov 2024)	34.43 k	-0.34 L	Large Cap	32.32
Rural Electrification Corporation Limited	Financial institution	0.39	16.3	0.30%	-0.23%	1.16% (Mar 2025)	0% (Nov 2024)	43.35 k	-0.26 L	Mid Cap	22.52
Marico Ltd.	Personal care	0.29	15.6	0.29%	-0.02%	3.67% (Nov 2024)	0.11% (May 2025)	21.60 k	0.00	Large Cap	32.32
Divis Laboratories Ltd.	Pharmaceuticals	1.54	14.8	0.28%	0.02%	0.56% (Mar 2025)	0% (Nov 2024)	2.20 k	0.00	Large Cap	32.32
Tata Power Co. Ltd.	Integrated power utilities	0.27	14.7	0.27%	-0.02%	1.78% (Jan 2025)	0.27% (Oct 2025)	36.25 k	0.00	Mid Cap	22.52
- Bharat Heavy Electricals Ltd.	Heavy electrical equipment	1.28	14.6	0.27%	0.00%	0.33% (Jul 2025)	0% (Nov 2024)	55.13 k	0.00	Mid Cap	22.52
Jindal Steel Ltd.	Iron & steel products	1.57	14	0.26%	-0.03%	0.57% (Jun 2025)	0% (Nov 2024)	13.13 k	0.00	Mid Cap	22.52
Crompton Greaves Consumer Electricals Ltd.	Household appliances	0.25	13.2	0.25%	0.20%	0.55% (Mar 2025)	0% (Nov 2024)	46.80 k	39.60 k	Mid Cap	22.52
CG Power and Industrial Solutions Ltd.	Heavy electrical equipment	1.28	11.3	0.21%	-0.03%	0.34% (Jul 2025)	0% (Nov 2024)	15.30 k	0.00	Small Cap	2.84
BSE Ltd.	Exchange and data platform	1.98	11.2	0.21%	0.02%	0.21% (Oct 2025)	0% (Nov 2024)	4.50 k	0.00	Small Cap	2.84
- Tata Steel Ltd.	Iron & steel products	1.57	11.1	0.21%	-0.01%	0.28% (Jan 2025)	0% (Nov 2024)	60.50 k	0.00	Other	19.01
Max Healthcare Institute Ltd.	Hospital	2.04	9.6	0.18%	-0.16%	0.46% (Jul 2025)	0% (Nov 2024)	8.40 k	-6.30 k	Other	19.01
Ultratech Cement Ltd.	Cement & cement products	0.18	9.6	0.18%	-0.03%	1.93% (Feb 2025)	0% (Nov 2024)	800.00	0.00	Large Cap	32.32
Indian Energy Exchange Ltd.	Exchange and data platform	1.98	7.8	0.15%	-0.02%	0.35% (Jun 2025)	0% (Nov 2024)	56.25 k	0.00	Small Cap	2.84
Asian Paints (india) Ltd.	Paints	0.13	6.9	0.13%	-0.14%	0.56% (Dec 2024)	0% (Nov 2024)	2.75 k	-2.75 k	Large Cap	32.32
- Aurobindo Pharma Ltd.	Pharmaceuticals	1.54	6.3	0.12%	-0.01%	0.18% (Jun 2025)	0% (Nov 2024)	5.50 k	0.00	Large Cap	32.32
- Kalyan Jewellers India Ltd.	Gems, jewellery and watches	0.55	5.4	0.10%	0.00%	0.25% (Jul 2025)	0% (Nov 2024)	10.58 k	0.00	Other	19.01
Housing & Urban Development Corporation Ltd.	Financial institution	0.39	4.6	0.09%	-0.06%	0.16% (Jul 2025)	0% (Nov 2024)	19.43 k	-0.11 L	Small Cap	2.84
- GMR Airports Ltd.	Airport & airport services	0.09	4.6	0.09%	0.00%	0.78% (Jan 2025)	0% (Nov 2024)	48.83 k	0.00	Small Cap	2.84
- United Spirits Ltd.	Breweries & distilleries	0.09	4.6	0.09%	0.00%	0.66% (Mar 2025)	0% (Nov 2024)	3.20 k	0.00	Large Cap	32.32
PB Fintech Ltd.	Financial technology (fintech)	2.66	4.4	0.08%	-0.01%	0.11% (Jul 2025)	0% (Nov 2024)	2.45 k	0.00	Other	19.01
Polycab India Limited	Cables - electricals	0.07	3.9	0.07%	0.00%	0.71% (Feb 2025)	0% (Nov 2024)	500.00	0.00	Other	19.01
Indian Hotels Company Limited	Hotels & resorts	0.07	3.7	0.07%	-0.01%	0.53% (Jan 2025)	0% (Nov 2024)	5.00 k	0.00	Mid Cap	22.52
- Mphasis Ltd.	Computers - software & consulting	2.85	3	0.06%	0.00%	0.92% (Apr 2025)	0% (Nov 2024)	1.10 k	0.00	Mid Cap	22.52
SRF Ltd.	Specialty chemicals	0.78	2.3	0.04%	0.00%	1.8% (Nov 2024)	0% (Nov 2024)	800.00	0.00	Mid Cap	22.52
# Oil India Ltd.	Oil exploration & production	0.03	1.8	0.03%	0.03%	0.06% (Mar 2025)	0% (Nov 2024)	4.20 k	4.20 k	Mid Cap	22.52
Tube Investments Of India Ltd.	Auto components & equipments	0.34	1.8	0.03%	0.00%	0.08% (Mar 2025)	0% (Nov 2024)	600.00	0.00	Small Cap	2.84
Power Grid Corporation of India Ltd.	Power - transmission	0.03	1.6	0.03%	-0.02%	1.24% (Mar 2025)	0% (Nov 2024)	5.70 k	-3.80 k	Large Cap	32.32
- Vedanta Ltd.	Diversified metals	0.02	1.1	0.02%	0.00%	0.18% (Nov 2024)	0% (Nov 2024)	2.30 k	0.00	Large Cap	32.32
# National Thermal Power Corporation Ltd.	Power generation	1	0.5	0.01%	0.01%	1.45% (Dec 2024)	0% (Nov 2024)	1.50 k	1.50 k	Large Cap	32.32
Hindustan Unilever Ltd.	Diversified fmcg	0.83	15.1	0.00%	-0.32%	-	-	-	-	Large Cap	32.32
Eicher Motors Ltd.	2/3 wheelers		6.1	0.00%	-0.13%	-	-	-	-	Other	19.01
National Aluminium Co. Ltd.	Aluminium	0.91	8	0.00%	-0.17%	-	-	-	-	Small Cap	2.84
Au Small Finance Bank Ltd.	Other bank		12.4	0.00%	-0.26%	-	-	-	-	Mid Cap	22.52
Oberoi Realty Ltd.	Residential, commercial projects	1.32	0.6	0.00%	-0.01%	-	-	-	-	Mid Cap	22.52
Tata Motors Ltd.	Passenger cars & utility vehicles	0.57	27.8	0.00%	-0.58%	-	-	-	-	Large Cap	32.32
Persistent Systems Ltd.	Computers - software & consulting	2.85	5.3	0.00%	-0.11%	-	-	-	-	Other	19.01
Bank Of Baroda	Public sector bank	3.56	3.8	0.00%	-0.08%	-	-	-	-	Large Cap	32.32
Bharat Petroleum Corporation Ltd.	Refineries & marketing	4.39	5.4	0.00%	-0.11%	-	-	-	-	Large Cap	32.32
SBI Life Insurance Co Ltd.	Life insurance	1.01	36.3	0.00%	-0.76%	-	-	-	-	Large Cap	32.32
DLF Ltd.	Residential, commercial projects	1.32	3.5	0.00%	-0.07%	-	-	-	-	Large Cap	32.32
Indian Railway Catering and Tourism Corporation Ltd.	Tour, travel related services		2.5	0.00%	-0.05%	-	-	-	-	Other	19.01

- indicates change in weight in the portfolio. # indicates a new entry.

New Stocks added in Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
# Bond - Bharti Telecom Ltd.	Telecom - equipment & accessories	54	1.01%	1.01%	0% (Nov 2025)	0% (Nov 2025)	50.00	50
# Oil India Ltd.	Oil exploration & production	1.8	0.03%	0.03%	0.06% (Mar 2025)	0% (Nov 2024)	4.20 k	4200
# National Thermal Power Corporation Ltd.	Power generation	0.5	0.01%	0.01%	1.45% (Dec 2024)	0% (Nov 2024)	1.50 k	1500

Stocks removed from Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	1M Change in Qty
Hindustan Unilever Ltd.	Diversified fmcg	15.1	0.00%	-0.32%	0.49% (Mar 2025)	0% (Nov 2024)	-6000
Eicher Motors Ltd.	2/3 wheelers	6.1	0.00%	-0.13%	0.39% (Jan 2025)	0% (Nov 2024)	-875
National Aluminium Co. Ltd.	Aluminium	8	0.00%	-0.17%	0.22% (May 2025)	0% (Nov 2024)	-37500
Au Small Finance Bank Ltd.	Other bank	12.4	0.00%	-0.26%	0.26% (Sep 2025)	0% (Nov 2024)	-17000
Oberoi Realty Ltd.	Residential, commercial projects	0.6	0.00%	-0.01%	0.01% (Aug 2025)	0% (Nov 2024)	-350
Tata Motors Ltd.	Passenger cars & utility vehicles	27.8	0.00%	-0.58%	1.18% (Dec 2024)	0% (Nov 2024)	-40800
Persistent Systems Ltd.	Computers - software & consulting	5.3	0.00%	-0.11%	0.11% (Sep 2025)	0% (Nov 2024)	-1100
Bank Of Baroda	Public sector bank	3.8	0.00%	-0.08%	0.46% (Nov 2024)	0% (Nov 2024)	-14625
Bharat Petroleum Corporation Ltd.	Refineries & marketing	5.4	0.00%	-0.11%	0.13% (Jul 2025)	0% (Nov 2024)	-15800
SBI Life Insurance Co Ltd.	Life insurance	36.3	0.00%	-0.76%	1.18% (Mar 2025)	0% (Nov 2024)	-20250
DLF Ltd.	Residential, commercial projects	3.5	0.00%	-0.07%	0.16% (Mar 2025)	0% (Nov 2024)	-4950
Indian Railway Catering and Tourism Corporation Ltd.	Tour, travel related services	2.5	0.00%	-0.05%	0.4% (May 2025)	0% (Nov 2024)	-3500

Trend in stock holdings (Top 15 Holding)

Stock	Oct 2025	Sep 2025	Aug 2025	Jul 2025	Jun 2025	May 2025	Apr 2025	Mar 2025	Feb 2025	Jan 2025	Dec 2024	Nov 2024	Oct 2024
Sammaan Capital Ltd.	5.18%	2.72%	-	-	-	-	-	-	-	-	-	-	-
Vodafone Idea Ltd.	3.80%	3.96%	2.35%	2.99%	3.64%	3.77%	4.16%	4.13%	2.17%	3.17%	-	-	-
HDFC Bank Ltd.	4.87%	5.24%	4.41%	4.03%	4.53%	4.26%	4.35%	3.21%	1.89%	0.74%	2.15%	0.70%	-
RBL Bank Ltd.	3.43%	3.25%	0.56%	4.66%	6.27%	4.48%	2.59%	0.34%	-	-	-	-	-
Reliance Industries Ltd.	4.08%	3.90%	3.49%	2.32%	0.97%	1.04%	2.65%	3.45%	3.10%	2.82%	3.88%	2.97%	-
ICICI Bank Ltd.	2.30%	2.29%	2.17%	1.65%	1.19%	2.13%	2.41%	1.87%	3.65%	3.40%	3.59%	2.90%	-
TVS Motor Company Ltd.	-	-	-	-	-	-	-	-	-	2.28%	-	-	-
IDFC First Bank Ltd.	1.49%	2.30%	2.26%	2.74%	3.28%	3.45%	3.38%	1.42%	1.39%	0.91%	-	-	-
One 97 Communications Ltd.	2.58%	2.48%	2.69%	2.83%	2.70%	2.93%	-	0.20%	-	1.61%	-	-	-
Britannia Industries Ltd.	-	-	-	-	-	-	-	-	-	-	1.44%	2.90%	-
Godrej Properties Ltd.	1.32%	1.27%	1.26%	1.28%	1.62%	1.72%	2.41%	2.71%	3.06%	-	-	-	-
Axis Bank Ltd.	2.35%	2.41%	2.24%	2.19%	0.54%	0.26%	0.82%	1.77%	2.98%	3.17%	0.89%	0.90%	-
State Bank Of India	2.26%	2.35%	2.18%	1.18%	0.84%	0.78%	-	-	1.21%	2.21%	2.08%	1.38%	-
Eternal Ltd.	3.40%	3.31%	2.39%	0.21%	0.09%	0.08%	-	-	-	-	-	-	-
Zomato Ltd.	-	-	-	-	-	-	-	-	-	0.21%	-	-	-
Indusind Bank Ltd.	0.32%	0.01%	0.01%	-	-	-	-	-	1.65%	2.26%	3.90%	2.85%	-

No of Debt Holding 10 (Category Avg - 8.76) | Modified Duration 0.73 Years (Category Avg - 0.36)| Yield to Maturity 6.35% (Category Avg - 6.02%)

Portfolio Summary (as on 31st Oct,2025)

Security Type	% Weight	Category Average
GOI	2.81%	0.97%
CD	1.84%	1.57%
T-Bills	5.52%	1.83%
CP	0.00%	0.89%
NCD & Bonds	7.64%	2.20%
PTC	0.00%	0.02%

Category - Arbitrage Fund

Security Type	% Weight	Category Average
Government Backed	8.33%	2.79%
Low Risk	9.48%	4.67%
Moderate Risk	0.00%	0.00%
High Risk	0.00%	0.00%
Very High Risk	0.00%	0.00%
Others	0.00%	0.00%

Category - Arbitrage Fund

Debt holding in Portfolio (as on 31st Oct,2025)

Instrument	Type	Sector	Rating	Rating Agency	Value (Mn)	% of Total Holding	Quantity
Bond - Jubilant Beverages Ltd.	NCD & Bonds	Other beverages	AA	CRISIL	158.24	2.96%	1.49 k
Bond - Govt of India	GOI	Other			150.44	2.81%	15.00 L
Bond - T-Bill	T-Bills	Other			148.04	2.76%	15.00 L
Bond - Poonawalla Fincorp Ltd.	NCD & Bonds	Non banking financial company (nbfc)	AAA	CRISIL	103.94	1.94%	1.00 k
Bond - HDFC Bank Ltd.	CD	Private sector bank	PR1+	CARE	98.41	1.84%	200.00
Bond - Jubilant Bevco Ltd.	NCD & Bonds	Restaurants	AA	CRISIL	92.49	1.73%	871.00
Bond - Bharti Telecom Ltd.	NCD & Bonds	Telecom - equipment & accessories	AAA	CRISIL	54.01	1.01%	50.00
Bond - T-Bill	T-Bills	Other			49.55	0.93%	5.00 L
Bond - T-Bill	T-Bills	Other			49.13	0.92%	5.00 L
Bond - T-Bill	T-Bills	Other			48.93	0.91%	5.00 L