Mutual fund · Arbitrage· NAV-verified
Parag Parikh Arbitrage Fund
₹2,750 cr across 75 positions, as filed for 2026-09-30. Returns are the fund's AMFI growth-plan NAV; holdings and behavior come from its filed monthly portfolios.
Returns, against the category
Q2 FY27: +6% over 1 year against the median Arbitrage fund's +6%.
| Over | Quarter | 1 year | 3 years (ann.) | 5 years (ann.) |
|---|---|---|---|---|
| Parag Parikh Arbitrage Fund | +1% | +6% | — | — |
| Median Arbitrage fund | +1% | +6% | +7% | +6% |
—Q3 FY24—Q4 FY24—Q1 FY25—Q2 FY25+7%Q3 FY25+7%Q4 FY25+7%Q1 FY26+6%Q2 FY26+6%Q3 FY26+6%Q4 FY26+6%Q1 FY27+6%Q2 FY27
What moved the fund, last 12 filed months
Contribution = the fund's filed weight each month × that stock's price move in its own filings, in percentage points of NAV. Corporate-action months are left out.
| Stock | 12 months | Latest month |
|---|---|---|
| Bharat Heavy Electricals Limited | +1.7 pp | −0.2 pp |
| State Bank of India | +1.2 pp | −0.2 pp |
| Shriram Finance Limited | +1.0 pp | 0.0 pp |
| Axis Bank Limited | +0.6 pp | −0.3 pp |
| Canara Bank | +0.6 pp | −0.3 pp |
| Stock | 12 months | Latest month |
|---|---|---|
| HDFC Bank Limited | −1.6 pp | −0.0 pp |
| Reliance Industries Limited | −0.6 pp | −0.3 pp |
| Eternal Limited | −0.5 pp | 0.0 pp |
| Bharti Airtel Limited | −0.4 pp | −0.1 pp |
| Tata Consultancy Services Limited | −0.3 pp | 0.0 pp |
Holdings, as filed for 2026-09-30
| Holding | Sector | % of fund | Value | Held for | Vs avg cost |
|---|---|---|---|---|---|
| HDFC Bank | Financial Services | 6.38% | ₹176 cr | 21 mo | -16% |
| ICICI Bank | Financial Services | 6.17% | ₹170 cr | 23 mo | +1% |
| Canara Bank | Financial Services | 5.28% | ₹145 cr | 7 mo | -5% |
| Reliance Industries Limited | Oil, Gas & Consumable Fuels | 4.80% | ₹132 cr | 35 mo | -11% |
| Axis Bank | Financial Services | 4.51% | ₹124 cr | 32 mo | +6% |
| Bharti Airtel Limited | Telecommunication | 4.40% | ₹121 cr | 24 mo | -7% |
| Kotak Mahindra Bank Limited | Financial Services | 3.75% | ₹103 cr | 35 mo | +5% |
| B H E L | Capital Goods | 2.97% | ₹82 cr | 30 mo | +73% |
| State Bank of India | Financial Services | 2.38% | ₹65 cr | 16 mo | -2% |
| IDFC First Bank Limited | Financial Services | 2.24% | ₹62 cr | 19 mo | +15% |
| Tata Steel | Metals & Mining | 2.06% | ₹57 cr | 32 mo | +11% |
| Bharat Electronics Limited | Capital Goods | 1.72% | ₹47 cr | 35 mo | +23% |
| UltraTech Cement Limited | Construction Materials | 1.69% | ₹47 cr | 20 mo | -4% |
| NMDC Limited | Metals & Mining | 1.54% | ₹42 cr | 17 mo | +8% |
| Bandhan Bank Limited | Financial Services | 1.46% | ₹40 cr | 34 mo | -2% |
How this fund actually behaves
Computed from every filed monthly portfolio (35 months of filings) by the research pipeline.
| Holding patience | Median months a position is held (25th–75th band) | 4 mo (2–10) |
| Win rate on exits | Closed positions sold above entry, and the payoff ratio (234 exits) | 47% · payoff 1.3× |
| Loser handling | Cuts losers vs averages down, from 12 months of filings | Averages down |
| Entry valuation discipline | Median P/E paid on entries over 36 months; share above 50× | 36× · 37% over 50× |
| Portfolio valuation today | Weighted P/E and P/B of the current book at filed prices | 30.5× P/E · 3.6× P/B · 0% loss-makers |
| Churn | Stocks entered and exited in 12 months, of 75 positions | 52 in · 81 out |
| Concentration | Top 10 holdings' share; effective number of positions | 43% · ~20 effective |