NIFTY 50 ARBITRAGE · Arbitrage· NAV-verified
SBI Arbitrage Fund (Erstwhile known as SBI Arbitrage Opportunities Fund)
₹46,309 cr across 187 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.) |
|---|---|---|---|---|
| SBI Arbitrage Fund (Erstwhile known as SBI Arbitrage Opportunities Fund) | +1% | +6% | +7% | +6% |
| Median Arbitrage fund | +1% | +6% | +7% | +6% |
+7%Q3 FY24+8%Q4 FY24+8%Q1 FY25+7%Q2 FY25+8%Q3 FY25+7%Q4 FY25+7%Q1 FY26+7%Q2 FY26+7%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 |
|---|---|---|
| Shriram Finance Ltd. | +0.6 pp | −0.0 pp |
| Adani Enterprises Ltd. | +0.6 pp | +0.0 pp |
| Vodafone Idea Ltd. | +0.6 pp | −0.1 pp |
| Axis Bank Ltd. | +0.5 pp | −0.1 pp |
| Vedanta Ltd. | +0.5 pp | −0.0 pp |
| Stock | 12 months | Latest month |
|---|---|---|
| HDFC Bank Ltd. | −1.5 pp | −0.0 pp |
| ITC Ltd. | −0.7 pp | +0.0 pp |
| Tata Motors Passenger Vehicles Ltd. | −0.5 pp | −0.0 pp |
| Reliance Industries Ltd. | −0.4 pp | −0.3 pp |
| Tata Consultancy Services Ltd. | −0.3 pp | −0.0 pp |
Holdings, as filed for 2026-09-30
| Holding | Sector | % of fund | Value | Held for | Vs avg cost |
|---|---|---|---|---|---|
| Reliance Industries Limited | Oil, Gas & Consumable Fuels | 5.58% | ₹2,584 cr | 58 mo | -8% |
| HDFC Bank | Financial Services | 4.92% | ₹2,276 cr | 54 mo | -18% |
| State Bank of India | Financial Services | 3.68% | ₹1,705 cr | 41 mo | -4% |
| ICICI Bank | Financial Services | 2.75% | ₹1,275 cr | 62 mo | -1% |
| Bharti Airtel Limited | Telecommunication | 2.39% | ₹1,105 cr | 36 mo | -4% |
| Axis Bank | Financial Services | 2.31% | ₹1,072 cr | 62 mo | -1% |
| Tata Steel | Metals & Mining | 1.59% | ₹734 cr | 62 mo | +2% |
| JSW Steel | Metals & Mining | 1.58% | ₹730 cr | 62 mo | +15% |
| Bajaj Finance Limited | Financial Services | 1.57% | ₹728 cr | 62 mo | -7% |
| Adani Enterprises Limited | Metals & Mining | 1.41% | ₹654 cr | 62 mo | +61% |
| Bharat Electronics Limited | Capital Goods | 1.36% | ₹629 cr | 54 mo | +15% |
| Hindustan Aeronautics Limited | Capital Goods | 1.16% | ₹539 cr | 47 mo | +12% |
| Vodafone Idea Limited | Telecommunication | 1.10% | ₹511 cr | 57 mo | +41% |
| Divi's Laboratories Limited | Healthcare | 1.09% | ₹503 cr | 36 mo | +29% |
| Adani Power | Power | 1.03% | ₹477 cr | 6 mo | -5% |
How this fund actually behaves
Computed from every filed monthly portfolio (62 months of filings) by the research pipeline.
| Holding patience | Median months a position is held (25th–75th band) | 5 mo (2–13) |
| Win rate on exits | Closed positions sold above entry, and the payoff ratio (317 exits) | 52% · payoff 1.2× |
| 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× | 50× · 49% over 50× |
| Portfolio valuation today | Weighted P/E and P/B of the current book at filed prices | 46.3× P/E · 5.2× P/B · 1% loss-makers |
| Churn | Stocks entered and exited in 12 months, of 187 positions | 116 in · 116 out |
| Concentration | Top 10 holdings' share; effective number of positions | 28% · ~47 effective |