Union 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

Equity Holding : 73.00% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 73.00%

No of Stocks : 73 (Category Avg - 141.44) | Large Cap Investments : 38.63%| Mid Cap Investments : 16.44% | Small Cap Investments : 1.97% | Other : 15.96%

Portfolio Summary (as on 31st Oct,2025)

Particulars	This Scheme	Category
No. of Stocks	73	111.82
Top 5 Stock Weight	17.54%	20.74%
Top 10 Stock Weight	27.59%	32.56%
Top 3 Sector Weight	24.9%	26%

Category - Arbitrage Fund

Particulars	This Scheme	Category
Average mcap (Cr)	76405.46	89090.61
Holdings in large cap stocks	38.63%	38.6%
Holdings in mid cap stocks	16.44%	15.61%
Holdings in small cap stocks	1.97%	4.14%

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
# RBL Bank Ltd.	Private sector bank	173	5.85%	0.00%	5.47% (Sep 2025)	0% (Oct 2024)	5.30 L	-0.60 L
# Bharti Airtel Ltd.	Telecom - cellular & fixed line services	91.7	3.10%	0.00%	3.13% (Sep 2025)	0.88% (Apr 2025)	44.65 k	-5.23 k
# HDFC Bank Ltd.	Private sector bank	91.2	3.08%	0.00%	3.41% (May 2025)	1.23% (Nov 2024)	92.40 k	0.00
# Kotak Mahindra Bank Ltd.	Private sector bank	84.9	2.87%	0.00%	2.69% (Sep 2025)	0.96% (Jul 2025)	40.40 k	0.00
# Reliance Industries Ltd.	Refineries & marketing	78	2.64%	0.00%	4.15% (Feb 2025)	2.21% (Mar 2025)	52.50 k	0.00
# J S W Steel Ltd.	Iron & steel products	72.5	2.45%	0.00%	1.85% (Sep 2025)	0% (Oct 2024)	60.08 k	11.48 k
# One 97 Communications Ltd.	Financial technology (fintech)	61.4	2.08%	0.00%	1.79% (Aug 2025)	0% (Oct 2024)	47.13 k	0.00
# Max Financial Services Ltd.	Life insurance	56.9	1.92%	0.00%	1.94% (Sep 2025)	0% (Oct 2024)	36.80 k	0.00
# Eternal Ltd.	E-retail/ e-commerce	53.9	1.82%	0.00%	1.84% (Sep 2025)	0% (Oct 2024)	1.70 L	0.00
# ICICI Bank Ltd.	Private sector bank	52.7	1.78%	0.00%	2.18% (Jun 2025)	0% (Oct 2024)	39.20 k	0.00

- 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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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
# RBL Bank Ltd.	Private sector bank	15.74	173	5.85%	0.00%	5.47% (Sep 2025)	0% (Oct 2024)	5.30 L	-0.60 L	Mid Cap	16.44
# Bharti Airtel Ltd.	Telecom - cellular & fixed line services	4.05	91.7	3.10%	0.00%	3.13% (Sep 2025)	0.88% (Apr 2025)	44.65 k	-5.23 k	Large Cap	38.63
# HDFC Bank Ltd.	Private sector bank	15.74	91.2	3.08%	0.00%	3.41% (May 2025)	1.23% (Nov 2024)	92.40 k	0.00	Other	15.96
# Kotak Mahindra Bank Ltd.	Private sector bank	15.74	84.9	2.87%	0.00%	2.69% (Sep 2025)	0.96% (Jul 2025)	40.40 k	0.00	Large Cap	38.63
# Reliance Industries Ltd.	Refineries & marketing	4.11	78	2.64%	0.00%	4.15% (Feb 2025)	2.21% (Mar 2025)	52.50 k	0.00	Large Cap	38.63
# J S W Steel Ltd.	Iron & steel products	4.74	72.5	2.45%	0.00%	1.85% (Sep 2025)	0% (Oct 2024)	60.08 k	11.48 k	Large Cap	38.63
# One 97 Communications Ltd.	Financial technology (fintech)	2.08	61.4	2.08%	0.00%	1.79% (Aug 2025)	0% (Oct 2024)	47.13 k	0.00	Other	15.96
# Max Financial Services Ltd.	Life insurance	2.58	56.9	1.92%	0.00%	1.94% (Sep 2025)	0% (Oct 2024)	36.80 k	0.00	Mid Cap	16.44
# Eternal Ltd.	E-retail/ e-commerce	1.82	53.9	1.82%	0.00%	1.84% (Sep 2025)	0% (Oct 2024)	1.70 L	0.00	Other	15.96
# ICICI Bank Ltd.	Private sector bank	15.74	52.7	1.78%	0.00%	2.18% (Jun 2025)	0% (Oct 2024)	39.20 k	0.00	Large Cap	38.63
# Vedanta Ltd.	Diversified metals	1.65	48.8	1.65%	0.00%	1.83% (Nov 2024)	0% (Oct 2024)	98.90 k	0.00	Large Cap	38.63
# DLF Ltd.	Residential, commercial projects	1.6	47.4	1.60%	0.00%	1.61% (Jul 2025)	0.37% (Apr 2025)	62.70 k	0.00	Large Cap	38.63
# Sammaan Capital Ltd.	Housing finance company	1.92	44.6	1.51%	0.00%	1.27% (Sep 2025)	0% (Oct 2024)	2.37 L	0.00	Mid Cap	16.44
# Shriram Finance Ltd.	Non banking financial company (nbfc)	4.42	44.5	1.50%	0.00%	1.73% (Jun 2025)	0% (Oct 2024)	59.40 k	0.00	Other	15.96
# Hindustan Petroleum Corporation Ltd.	Refineries & marketing	4.11	43.4	1.47%	0.00%	1.97% (Jul 2025)	0% (Oct 2024)	91.13 k	0.00	Large Cap	38.63
# Tata Steel Ltd.	Iron & steel products	4.74	39.2	1.33%	0.00%	1.21% (Sep 2025)	0.03% (Dec 2024)	2.15 L	0.00	Other	15.96
# Bajaj Finance Ltd.	Non banking financial company (nbfc)	4.42	38.3	1.30%	0.00%	1.23% (Sep 2025)	0.39% (Oct 2024)	36.75 k	0.00	Other	15.96
# Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	1.97	38	1.29%	0.00%	2.02% (Nov 2024)	0% (Oct 2024)	2.35 k	-0.15 k	Large Cap	38.63
# State Bank Of India	Public sector bank	2	37.3	1.26%	0.00%	1.43% (Nov 2024)	0.97% (Jun 2025)	39.75 k	0.00	Large Cap	38.63
# Axis Bank Ltd.	Private sector bank	15.74	34.7	1.17%	0.00%	1.64% (Jan 2025)	0.39% (Jul 2025)	28.13 k	0.00	Large Cap	38.63
# Hindalco Industries Ltd.	Aluminium	1.16	34.4	1.16%	0.00%	1.74% (Apr 2025)	0.69% (Mar 2025)	40.60 k	0.00	Large Cap	38.63
# Titan Company Ltd.	Gems, jewellery and watches	1.09	32.1	1.09%	0.00%	0.98% (Aug 2025)	0% (Oct 2024)	8.58 k	0.00	Large Cap	38.63
# Jio Financial Services Ltd.	Non banking financial company (nbfc)	4.42	29.6	1.00%	0.00%	0.99% (May 2025)	0% (Oct 2024)	96.35 k	0.00	Other	15.96
# Rural Electrification Corporation Limited	Financial institution	0.99	29.2	0.99%	0.00%	1.55% (Jun 2025)	0% (Oct 2024)	77.78 k	0.00	Mid Cap	16.44
# TVS Motor Company Ltd.	2/3 wheelers	1.61	28.3	0.95%	0.00%	1.07% (May 2025)	0% (Oct 2024)	8.05 k	1.05 k	Mid Cap	16.44
# Vodafone Idea Ltd.	Telecom - cellular & fixed line services	4.05	28.1	0.95%	0.00%	1.52% (Jan 2025)	0.66% (Aug 2025)	32.16 L	-0.24 Cr	Large Cap	38.63
# Ultratech Cement Ltd.	Cement & cement products	2.22	28.1	0.95%	0.00%	1.38% (Mar 2025)	0.79% (Feb 2025)	2.35 k	0.00	Large Cap	38.63
# InterGlobe Aviation Ltd.	Airline	0.91	27	0.91%	0.91%	1.34% (Feb 2025)	0% (Oct 2024)	4.80 k	4.80 k	Large Cap	38.63
# Aurobindo Pharma Ltd.	Pharmaceuticals	1.71	26.9	0.91%	0.00%	1.03% (May 2025)	0.61% (Mar 2025)	23.65 k	0.00	Large Cap	38.63
# Coforge Ltd.	Computers - software & consulting	2.59	24	0.81%	0.00%	0.84% (Dec 2024)	0% (Oct 2024)	13.50 k	0.00	Other	15.96
# Larsen & Toubro Ltd.	Civil construction	0.81	24	0.81%	0.00%	1.89% (Dec 2024)	0.65% (Apr 2025)	5.95 k	0.00	Large Cap	38.63
# Sun Pharmaceutical Industries Ltd.	Pharmaceuticals	1.71	23.7	0.80%	0.00%	2.79% (Jul 2025)	0.75% (Sep 2025)	14.00 k	0.00	Large Cap	38.63
# Adani Ports And Special Economic Zone Ltd.	Port & port services	0.79	23.4	0.79%	0.00%	0.76% (Oct 2024)	0.53% (Mar 2025)	16.15 k	0.00	Large Cap	38.63
# Ambuja Cements Ltd.	Cement & cement products	2.22	22.6	0.76%	0.76%	0.3% (Dec 2024)	0% (Oct 2024)	39.90 k	39.90 k	Large Cap	38.63
# United Spirits Ltd.	Breweries & distilleries	0.75	22.3	0.75%	0.75%	0.51% (Dec 2024)	0% (Oct 2024)	15.60 k	15.60 k	Large Cap	38.63
# Bank Of Baroda	Public sector bank	2	22	0.74%	0.00%	0.68% (Sep 2025)	0% (Oct 2024)	78.98 k	0.00	Large Cap	38.63
# Patanjali Foods Ltd.	Edible oil	0.73	21.7	0.73%	0.00%	1.29% (Apr 2025)	0% (Oct 2024)	36.00 k	0.00	Other	15.96
# Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	1.97	20.2	0.68%	0.00%	1.02% (Mar 2025)	0% (Oct 2024)	5.80 k	0.00	Large Cap	38.63
# Apollo Hospitals Enterprises Ltd.	Hospital	0.68	20.2	0.68%	0.00%	0.69% (May 2025)	0% (Oct 2024)	2.63 k	0.00	Mid Cap	16.44
# NHPC Ltd.	Power generation	1.91	20.1	0.68%	0.68%	0.67% (Apr 2025)	0% (Oct 2024)	2.37 L	2.37 L	Mid Cap	16.44
# Hindustan Unilever Ltd.	Diversified fmcg	1.2	20	0.68%	0.00%	1.36% (Jan 2025)	0% (Oct 2024)	8.10 k	-0.30 k	Large Cap	38.63
# Eicher Motors Ltd.	2/3 wheelers	1.61	19.6	0.66%	0.00%	1.39% (Jan 2025)	0.24% (Jun 2025)	2.80 k	0.00	Other	15.96
# Tata Consultancy Services Ltd.	Computers - software & consulting	2.59	19.3	0.65%	0.00%	1.82% (May 2025)	0.61% (Sep 2025)	6.30 k	0.00	Large Cap	38.63
# Adani Green Energy Ltd.	Power generation	1.91	18.5	0.62%	0.00%	1.72% (Feb 2025)	0% (Oct 2024)	16.20 k	0.00	Small Cap	1.97
# Muthoot Finance Pvt. Ltd.	Non banking financial company (nbfc)	4.42	18.4	0.62%	0.00%	1.62% (Apr 2025)	0% (Oct 2024)	5.78 k	-0.83 k	Mid Cap	16.44
# Persistent Systems Ltd.	Computers - software & consulting	2.59	17.2	0.58%	0.58%	0.67% (Mar 2025)	0% (Oct 2024)	2.90 k	2.90 k	Other	15.96
# Federal Bank Ltd.	Private sector bank	15.74	16.6	0.56%	0.00%	1.19% (May 2025)	0% (Oct 2024)	70.00 k	0.00	Mid Cap	16.44
# Dabur India Ltd.	Personal care	1	16.5	0.56%	0.00%	0.62% (Aug 2025)	0% (Oct 2024)	33.75 k	0.00	Large Cap	38.63
# HCL Technologies Limited	Computers - software & consulting	2.59	16.2	0.55%	0.00%	1.64% (Jan 2025)	0.48% (Aug 2025)	10.50 k	0.00	Large Cap	38.63
# ITC Limited	Diversified fmcg	1.2	15.5	0.52%	0.00%	1.27% (Nov 2024)	0% (Oct 2024)	36.80 k	0.00	Large Cap	38.63
# Grasim Industries Limited	Cement & cement products	2.22	15.2	0.51%	0.00%	0.59% (Nov 2024)	0.45% (Mar 2025)	5.25 k	0.00	Large Cap	38.63
# Bajaj Finserv Ltd	Holding company	0.49	14.6	0.49%	0.00%	0.8% (Mar 2025)	0% (Oct 2024)	7.00 k	0.00	Other	15.96
# Asian Paints (india) Ltd.	Paints	0.49	14.4	0.49%	0.00%	0.9% (Jan 2025)	0% (Oct 2024)	5.75 k	0.00	Large Cap	38.63
# Titagarh Rail Systems Ltd.	Railway wagons	0.48	14.1	0.48%	0.48%	0.12% (Jun 2025)	0% (Oct 2024)	15.95 k	15.95 k	Small Cap	1.97
# Trent Limited	Speciality retail	0.48	14.1	0.48%	0.00%	1.34% (Feb 2025)	0% (Oct 2024)	3.00 k	0.00	Mid Cap	16.44
# BSE Ltd.	Exchange and data platform	0.55	13.9	0.47%	0.00%	1.1% (Jan 2025)	0% (Oct 2024)	5.63 k	0.00	Small Cap	1.97
# SBI Life Insurance Co Ltd.	Life insurance	2.58	13.9	0.47%	0.00%	1.02% (Jul 2025)	0% (Oct 2024)	7.13 k	-9.75 k	Large Cap	38.63
# Jindal Steel Ltd.	Iron & steel products	4.74	13.3	0.45%	0.00%	0.94% (Dec 2024)	0% (Oct 2024)	12.50 k	0.00	Mid Cap	16.44
# Marico Ltd.	Personal care	1	13	0.44%	0.00%	0.75% (May 2025)	0% (Oct 2024)	18.00 k	0.00	Large Cap	38.63
# Steel Authority Of India Ltd.	Iron & steel products	4.74	12.9	0.43%	0.43%	0% (Nov 2025)	0% (Nov 2025)	94.00 k	94.00 k	Mid Cap	16.44
# Indusind Bank Ltd.	Private sector bank	15.74	12.8	0.43%	0.00%	1.45% (Jan 2025)	0% (Oct 2024)	16.10 k	0.00	Large Cap	38.63
# Nestle India Ltd.	Packaged foods	0.41	12.1	0.41%	0.00%	1.4% (Jun 2025)	0% (Oct 2024)	9.50 k	-0.17 L	Other	15.96
# PNB Housing Finance Ltd.	Housing finance company	1.92	12.1	0.41%	0.00%	1.51% (Jun 2025)	0% (Oct 2024)	13.00 k	0.00	Mid Cap	16.44
# National Thermal Power Corporation Ltd.	Power generation	1.91	10.1	0.34%	0.00%	1.92% (May 2025)	0% (Oct 2024)	30.00 k	-0.29 L	Large Cap	38.63
# Adani Energy Solutions Ltd.	Power - transmission	0.34	10	0.34%	0.00%	0.31% (May 2025)	0% (Oct 2024)	10.13 k	0.00	Mid Cap	16.44
# Solar Industries India Ltd.	Explosives	0.32	9.4	0.32%	0.00%	0.3% (Sep 2025)	0% (Oct 2024)	675.00	0.00	Small Cap	1.97
# Adani Enterprises Ltd.	Trading - minerals	0.3	8.9	0.30%	0.00%	0.97% (Oct 2024)	0.3% (Sep 2025)	3.60 k	0.00	Mid Cap	16.44
# J S W Energy Ltd.	Power generation	1.91	7.9	0.27%	0.00%	0.27% (Sep 2025)	0% (Oct 2024)	15.00 k	0.00	Mid Cap	16.44
# ICICI Lombard General Insurance Co Ltd.	General insurance	0.22	6.5	0.22%	0.22%	0.85% (Jan 2025)	0% (Oct 2024)	3.25 k	3.25 k	Large Cap	38.63
# HDFC Life Insurance Company Ltd.	Life insurance	2.58	5.6	0.19%	0.19%	1.63% (Jul 2025)	0% (Oct 2024)	7.70 k	7.70 k	Large Cap	38.63
# Indian Railway Catering and Tourism Corporation Ltd.	Tour, travel related services	0.09	2.5	0.09%	0.00%	0.91% (Jan 2025)	0% (Oct 2024)	3.50 k	-0.19 L	Other	15.96
# APL Apollo Tubes Ltd.	Iron & steel products	4.74	2.5	0.08%	0.00%	0.08% (Sep 2025)	0% (Oct 2024)	1.40 k	0.00	Other	15.96
# Multi Commodity Exchange Of India Ltd.	Exchange and data platform	0.55	2.3	0.08%	0.00%	0.6% (Feb 2025)	0% (Oct 2024)	250.00	0.00	Small Cap	1.97
Power Finance Corporation Ltd.	Financial institution	0.99	0.5	0.00%	-0.02%	-	-	-	-	Mid Cap	16.44
Coal India Ltd.	Coal		24.2	0.00%	-0.81%	-	-	-	-	Large Cap	38.63
Zydus Lifesciences Ltd.	Pharmaceuticals	1.71	16.8	0.00%	-0.56%	-	-	-	-	Mid Cap	16.44
Computer Age Management Services Pvt Ltd.	Depositories, clearing houses and other intermediaries		5.6	0.00%	-0.19%	-	-	-	-	Other	15.96
Britannia Industries Ltd.	Packaged foods	0.41	1.5	0.00%	-0.05%	-	-	-	-	Large Cap	38.63
Pidilite Industries Ltd.	Specialty chemicals		5.9	0.00%	-0.20%	-	-	-	-	Large Cap	38.63
Bharat Petroleum Corporation Ltd.	Refineries & marketing	4.11	16.1	0.00%	-0.54%	-	-	-	-	Large Cap	38.63
Tube Investments Of India Ltd.	Auto components & equipments		19.8	0.00%	-0.66%	-	-	-	-	Small Cap	1.97
Oil & Natural Gas Corporation Ltd.	Oil exploration & production		15.1	0.00%	-0.50%	-	-	-	-	Large Cap	38.63
Bharat Electronics Ltd.	Aerospace & defense		19.6	0.00%	-0.65%	-	-	-	-	Mid Cap	16.44
Lupin Ltd.	Pharmaceuticals	1.71	12.2	0.00%	-0.41%	-	-	-	-	Large Cap	38.63
Tata Motors Ltd.	Passenger cars & utility vehicles	1.97	43.5	0.00%	-1.45%	-	-	-	-	Large Cap	38.63
HDFC Asset Management Co. Ltd.	Asset management company		27.4	0.00%	-0.91%	-	-	-	-	Large Cap	38.63
Kaynes Technology India Private Ltd.	Industrial products		33.1	0.00%	-1.11%	-	-	-	-	Other	15.96
Piramal Pharma Ltd.	Pharmaceuticals	1.71	2.4	0.00%	-0.08%	-	-	-	-	Other	15.96

- 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
# United Spirits Ltd.	Breweries & distilleries	22.3	0.75%	0.75%	0.51% (Dec 2024)	0% (Oct 2024)	15.60 k	15600
# HDFC Life Insurance Company Ltd.	Life insurance	5.6	0.19%	0.19%	1.63% (Jul 2025)	0% (Oct 2024)	7.70 k	7700
# ICICI Lombard General Insurance Co Ltd.	General insurance	6.5	0.22%	0.22%	0.85% (Jan 2025)	0% (Oct 2024)	3.25 k	3250
# Ambuja Cements Ltd.	Cement & cement products	22.6	0.76%	0.76%	0.3% (Dec 2024)	0% (Oct 2024)	39.90 k	39900
# Titagarh Rail Systems Ltd.	Railway wagons	14.1	0.48%	0.48%	0.12% (Jun 2025)	0% (Oct 2024)	15.95 k	15950
# Steel Authority Of India Ltd.	Iron & steel products	12.9	0.43%	0.43%	0% (Nov 2025)	0% (Nov 2025)	94.00 k	94000
# InterGlobe Aviation Ltd.	Airline	27	0.91%	0.91%	1.34% (Feb 2025)	0% (Oct 2024)	4.80 k	4800
# NHPC Ltd.	Power generation	20.1	0.68%	0.68%	0.67% (Apr 2025)	0% (Oct 2024)	2.37 L	236800
# Persistent Systems Ltd.	Computers - software & consulting	17.2	0.58%	0.58%	0.67% (Mar 2025)	0% (Oct 2024)	2.90 k	2900

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
Power Finance Corporation Ltd.	Financial institution	0.5	0.00%	-0.02%	1.43% (Jul 2025)	0% (Oct 2024)	-1300
Coal India Ltd.	Coal	24.2	0.00%	-0.81%	1.24% (Oct 2024)	0.55% (Jun 2025)	-62100
Zydus Lifesciences Ltd.	Pharmaceuticals	16.8	0.00%	-0.56%	0.64% (Apr 2025)	0% (Oct 2024)	-17100
Computer Age Management Services Pvt Ltd.	Depositories, clearing houses and other intermediaries	5.6	0.00%	-0.19%	0.43% (Feb 2025)	0% (Oct 2024)	-1500
Britannia Industries Ltd.	Packaged foods	1.5	0.00%	-0.05%	0.05% (Sep 2025)	0% (Oct 2024)	-250
Pidilite Industries Ltd.	Specialty chemicals	5.9	0.00%	-0.20%	1% (May 2025)	0% (Oct 2024)	-4000
Bharat Petroleum Corporation Ltd.	Refineries & marketing	16.1	0.00%	-0.54%	0.67% (May 2025)	0% (Oct 2024)	-47400
Tube Investments Of India Ltd.	Auto components & equipments	19.8	0.00%	-0.66%	0.77% (May 2025)	0% (Oct 2024)	-6400
Oil & Natural Gas Corporation Ltd.	Oil exploration & production	15.1	0.00%	-0.50%	1.16% (Feb 2025)	0% (Oct 2024)	-63000
Bharat Electronics Ltd.	Aerospace & defense	19.6	0.00%	-0.65%	0.96% (May 2025)	0% (Oct 2024)	-48450
Lupin Ltd.	Pharmaceuticals	12.2	0.00%	-0.41%	1.23% (May 2025)	0% (Oct 2024)	-6375
Tata Motors Ltd.	Passenger cars & utility vehicles	43.5	0.00%	-1.45%	1.45% (Sep 2025)	0.19% (Apr 2025)	-64000
HDFC Asset Management Co. Ltd.	Asset management company	27.4	0.00%	-0.91%	1.83% (Aug 2025)	0% (Oct 2024)	-4950
Kaynes Technology India Private Ltd.	Industrial products	33.1	0.00%	-1.11%	1.11% (Sep 2025)	0% (Oct 2024)	-4700
Piramal Pharma Ltd.	Pharmaceuticals	2.4	0.00%	-0.08%	0.08% (Sep 2025)	0% (Oct 2024)	-12500

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
Reliance Industries Ltd.	2.64%	2.39%	2.25%	2.39%	2.35%	2.83%	2.44%	2.21%	4.15%	3.70%	4.00%	4.07%	4.00%
RBL Bank Ltd.	5.85%	5.47%	2.35%	-	1.18%	1.27%	1.05%	-	-	-	-	-	-
HDFC Bank Ltd.	3.08%	2.93%	2.77%	3.05%	2.76%	3.41%	3.02%	2.33%	2.89%	1.71%	1.75%	1.23%	1.68%
KEI Industries Ltd.	-	-	-	-	-	-	1.52%	2.00%	-	-	-	-	-
Kotak Mahindra Bank Ltd.	2.87%	2.69%	2.50%	0.96%	0.96%	2.02%	1.17%	1.44%	1.65%	1.66%	1.60%	1.09%	1.02%
Bharti Airtel Ltd.	3.10%	3.13%	2.74%	1.55%	1.48%	1.00%	0.88%	0.98%	1.16%	1.18%	1.52%	1.49%	1.41%
Sun Pharmaceutical Industries Ltd.	0.80%	0.75%	1.92%	2.79%	2.51%	1.32%	1.25%	1.18%	1.42%	1.57%	1.75%	1.07%	1.06%
ICICI Bank Ltd.	1.78%	1.76%	1.73%	1.22%	2.18%	1.27%	1.09%	0.97%	1.64%	1.72%	1.29%	0.82%	-
One 97 Communications Ltd.	2.08%	1.77%	1.79%	1.78%	1.38%	1.67%	0.65%	-	0.84%	-	1.01%	-	-
Infosys Ltd.	-	-	1.72%	0.63%	0.61%	1.71%	1.53%	0.87%	1.08%	1.68%	2.06%	1.94%	1.75%
Sammaan Capital Ltd.	1.51%	1.27%	-	-	-	-	-	-	-	-	-	-	-
Indian Energy Exchange Ltd.	-	-	-	1.33%	-	-	-	-	-	-	-	-	-
Eternal Ltd.	1.82%	1.84%	1.68%	0.80%	0.71%	0.58%	1.22%	-	-	-	-	-	-
Zomato Ltd.	-	-	-	-	-	-	-	-	0.90%	-	1.35%	-	-
Vodafone Idea Ltd.	0.95%	1.51%	0.66%	1.15%	1.13%	1.33%	1.20%	0.86%	1.25%	1.52%	1.37%	1.37%	1.27%
State Bank Of India	1.26%	1.16%	1.01%	1.03%	0.97%	1.23%	1.04%	1.01%	1.18%	1.34%	1.42%	1.43%	1.33%

No of Debt Holding 3 (Category Avg - 8.76) | Modified Duration 0.66 Years (Category Avg - 0.40)| Yield to Maturity 6.14% (Category Avg - 6.02%)

Portfolio Summary (as on 31st Oct,2025)

Security Type	% Weight	Category Average
GOI	0.00%	0.67%
CD	3.30%	1.68%
T-Bills	0.10%	1.78%
CP	0.00%	1.10%
NCD & Bonds	3.43%	2.22%
PTC	0.00%	0.02%

Category - Arbitrage Fund

Security Type	% Weight	Category Average
Government Backed	0.10%	2.45%
Low Risk	6.73%	5.02%
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 - Small Industries Development Bank Of India	NCD & Bonds	Financial institution	AAA	CRISIL	101.58	3.43%	10.00 Cr
Bond - Punjab National Bank	CD	Public sector bank	P1+	CRISIL	97.77	3.30%	10.00 Cr
Bond - T-Bill	T-Bills	Other			2.98	0.10%	30.00 L