NIPPON INDIA ARBITRAGE FUND

Nippon India Mutual FundHybridPortfolio as of 31 July 2026

NIPPON INDIA ARBITRAGE FUND holds 183 instruments (68.48% equity), led by Reliance Industries Limited (4.58%), HDFC Bank Limited (4.37%) and Axis Bank Limited (2.87%), as of its 31 July 2026 SEBI-mandated monthly disclosure.

Holdings

183

Equity Allocation

68.48%

AMC

Nippon India Mutual Fund

Portfolio Analysis

NIPPON INDIA ARBITRAGE FUND's top 10 holdings account for 23.32% of its portfolio, more diversified than the Hybrid category average of 28.9%. Financial Services is its largest sector exposure at 24.08% of net assets, spread across 12 sectors in total. Since its 30 June 2026 disclosure, the fund added 18 new positions and exited 12 positions, with ICICI Bank Limited seeing the largest move (-1.27pp to 1.29%).

Top 10 Equity Holdings

Reliance Industries Limited · 4.58%HDFC Bank Limited · 4.37%Axis Bank Limited · 2.87%JSW Steel Limited · 2.03%State Bank of India · 2%Kotak Mahindra Bank Limited · 1.6%Grasim Industries Limited · 1.53%Adani Enterprises Limited · 1.52%Jio Financial Services Limited · 1.43%Maruti Suzuki India Limited · 1.39%

What Changed: June 2026 → July 2026

Equity holdings compared between the fund's two latest monthly disclosures. Weights are % to NAV; weight moves can also reflect price changes, not only buying or selling.

18 new entries12 exits10 increased10 reduced

New Entries

Tata Consultancy Services Limited · 0.32%Kaynes Technology India Limited · 0.14%Bajaj Auto Limited · 0.11%Infosys Limited · 0.1%Polycab India Limited · 0.06%Coforge Limited · 0.06%Colgate Palmolive (India) Limited · 0.05%Dr. Reddy's Laboratories Limited · 0.04%KPIT Technologies Limited · 0.03%Persistent Systems Limited · 0.03%HCL Technologies Limited · 0.02%LTM Limited · 0.02%Samvardhana Motherson International Limited · 0.02%Radico Khaitan Limited · 0.01%Lupin Limited · 0.01%Oberoi Realty Limited · 0.01%SBI Cards and Payment Services Limited · 0.01%PG Electroplast Limited · 0%

Complete Exits

IndusInd Bank Limited · was 0.31%Sona BLW Precision Forgings Limited · was 0.14%Exide Industries Limited · was 0.13%Lodha Developers Limited · was 0.06%REC Limited · was 0.05%ICICI Lombard General Insurance Company Limited · was 0.03%Oil India Limited · was 0.02%Swiggy Limited · was 0.02%SHREE CEMENT LIMITED · was 0.01%Mazagon Dock Shipbuilders Limited · was 0%Waaree Energies Limited · was 0%SRF Limited · was 0%

Biggest Weight Increases

Stock	Weight	Change
Canara Bank	0.84% → 1.33%	▲ +0.49
Indus Towers Limited	0.09% → 0.5%	▲ +0.41
Muthoot Finance Limited	0.01% → 0.37%	▲ +0.36
Kotak Mahindra Bank Limited	1.26% → 1.6%	▲ +0.34
The Indian Hotels Company Limited	0.05% → 0.35%	▲ +0.3
Varun Beverages Limited	0.11% → 0.4%	▲ +0.29
State Bank of India	1.71% → 2%	▲ +0.29
RBL Bank Limited	0.06% → 0.32%	▲ +0.26
Axis Bank Limited	2.62% → 2.87%	▲ +0.25
Supreme Industries Limited	0.06% → 0.31%	▲ +0.25

Biggest Weight Reductions

Stock	Weight	Change
ICICI Bank Limited	2.56% → 1.29%	▼ -1.27
HDFC Bank Limited	5.55% → 4.37%	▼ -1.18
ETERNAL LIMITED	2.27% → 1.23%	▼ -1.04
Bajaj Finance Limited	1.88% → 1.07%	▼ -0.81
Maruti Suzuki India Limited	1.94% → 1.39%	▼ -0.55
AU Small Finance Bank Limited	1.68% → 1.2%	▼ -0.48
Bharat Electronics Limited	0.76% → 0.31%	▼ -0.45
Titan Company Limited	0.47% → 0.14%	▼ -0.33
Sun Pharmaceutical Industries Limited	0.46% → 0.17%	▼ -0.29
Reliance Industries Limited	4.83% → 4.58%	▼ -0.25

Top Holdings — Weight Trend

% to NAV of the fund's current top holdings over its last 6 monthly disclosures (Feb – Jul 2026).

Reliance Industries Limited

4.58%

4.37%

2.87%

2.03%

Full Portfolio (183 holdings)

#	Holding	Sector	% to NAV
1	Nippon India Money Market Fund - Direct Plan Growth Plan - Growth Optionmf	—	15.56%
2	Nippon India Ultra Short Duration Fund- Direct Plan- Growth Optionmf	—	7.61%
3	Reliance Industries Limited	Energy	4.58%
4	HDFC Bank Limited	Financial Services	4.37%
5	Triparty Repotreps	—	3.03%
6	Axis Bank Limited	Financial Services	2.87%
7	JSW Steel Limited	Materials	2.03%
8	State Bank of India	Financial Services	2%
9	Kotak Mahindra Bank Limited	Financial Services	1.6%
10	Grasim Industries Limited	Materials	1.53%
11	Adani Enterprises Limited	Materials	1.52%
12	Union Bank of Indiabond	—	1.46%
13	Jio Financial Services Limited	Financial Services	1.43%
14	Maruti Suzuki India Limited	Consumer Discretionary	1.39%
15	Canara Bank	Financial Services	1.33%
16	Vodafone Idea Limited	Telecommunication	1.33%
17	Mahindra & Mahindra Limited	Consumer Discretionary	1.3%
18	ICICI Bank Limited	Financial Services	1.29%
19	ETERNAL LIMITED	Consumer Discretionary	1.23%
20	AU Small Finance Bank Limited	Financial Services	1.2%
21	Larsen & Toubro Limited	Industrials	1.18%
22	Small Industries Development Bank Of Indiabond	—	1.15%
23	Bajaj Finance Limited	Financial Services	1.07%
24	Adani Energy Solutions Limited	Utilities	1.06%
25	Glenmark Pharmaceuticals Limited	Healthcare	1.02%
26	Info Edge (India) Limited	Consumer Discretionary	1.02%
27	TVS Motor Company Limited	Consumer Discretionary	0.96%
28	Steel Authority of India Limited	Materials	0.95%
29	CD - AXIS BANK LTDbond	—	0.86%
30	One 97 Communications Limited	Financial Services	0.82%
31	Ambuja Cements Limited	Materials	0.8%
32	Bharti Airtel Limited	Telecommunication	0.8%
33	NTPC Limited	Utilities	0.72%
34	Shriram Finance Limited	Financial Services	0.69%
35	Bharat Heavy Electricals Limited	Industrials	0.68%
36	Tata Steel Limited	Materials	0.65%
37	Hindalco Industries Limited	Materials	0.61%
38	Yes Bank Limited	Financial Services	0.59%
39	Coal India Limited	Energy	0.59%
40	Adani Green Energy Limited	Utilities	0.59%
41	NMDC Limited	Materials	0.58%
42	Adani Ports and Special Economic Zone Limited	Services	0.58%
43	HDFC Bank Limitedbond	—	0.58%
44	Ashok Leyland Limited	Industrials	0.56%
45	UltraTech Cement Limited	Materials	0.55%
46	Asian Paints Limited	Consumer Discretionary	0.52%
47	Hindustan Zinc Limited	Materials	0.52%
48	Laurus Labs Limited	Healthcare	0.51%
49	Eicher Motors Limited	Consumer Discretionary	0.5%
50	Punjab National Bank	Financial Services	0.5%
51	Hindustan Unilever Limited	Consumer Staples	0.5%
52	Indus Towers Limited	Telecommunication	0.5%
53	Marico Limited	Consumer Staples	0.49%
54	IDFC First Bank Limited	Financial Services	0.47%
55	Godrej Properties Limited	Real Estate	0.46%
56	Crompton Greaves Consumer Electricals Limited	Consumer Discretionary	0.42%
57	ITC Limited	Consumer Staples	0.41%
58	7.55% Poonawalla Fincorp Limitedbond	—	0.41%
59	Hero MotoCorp Limited	Consumer Discretionary	0.4%
60	Varun Beverages Limited	Consumer Staples	0.4%
61	Fortis Healthcare Limited	Healthcare	0.4%
62	Bank of Baroda	Financial Services	0.39%
63	Cipla Limited	Healthcare	0.38%
64	Muthoot Finance Limited	Financial Services	0.37%
65	The Indian Hotels Company Limited	Consumer Discretionary	0.35%
66	Biocon Limited	Healthcare	0.35%
67	Indian Oil Corporation Limited	Energy	0.34%
68	Tata Power Company Limited	Utilities	0.34%
69	RBL Bank Limited	Financial Services	0.32%
70	Tata Consultancy Services Limited	Information Technology	0.32%
71	Bharat Electronics Limited	Industrials	0.31%
72	Supreme Industries Limited	Industrials	0.31%
73	Prestige Estates Projects Limited	Real Estate	0.29%
74	7.85% Muthoot Finance Limitedbond	—	0.29%
75	Axis Bank Limitedbond	—	0.29%
76	HDFC Bank Limited 2027bond	—	0.29%
77	Manappuram Finance Limited	Financial Services	0.27%
78	SBI Life Insurance Company Limited	Financial Services	0.27%
79	HDFC Life Insurance Company Limited	Financial Services	0.26%
80	Adani Power Limited	Utilities	0.25%
81	Container Corporation of India Limited	Services	0.25%
82	ICICI Prudential Life Insurance Company Limited	Financial Services	0.24%
83	8.52% Muthoot Finance Limited 2028bond	—	0.24%
84	GE Vernova T&D India Limited	Industrials	0.23%
85	Cummins India Limited	Industrials	0.23%
86	Oil & Natural Gas Corporation Limited	Energy	0.23%
87	Power Grid Corporation of India Limited	Utilities	0.23%
88	Alkem Laboratories Limited	Healthcare	0.22%
89	TATA CONSUMER PRODUCTS LIMITED	Consumer Staples	0.2%
90	Patanjali Foods Limited	Consumer Staples	0.2%
91	Max Financial Services Limited	Financial Services	0.2%
92	Punjab National Bankbond	—	0.2%
93	Bosch Limited	Consumer Discretionary	0.19%
94	The Federal Bank Limited	Financial Services	0.18%
95	HDFC Asset Management Company Limited	Financial Services	0.18%
96	Cholamandalam Investment and Finance Company Limited	Financial Services	0.18%
97	Tata Motors Passenger Vehicles Limited	Consumer Discretionary	0.17%
98	Bandhan Bank Limited	Financial Services	0.17%
99	Kalyan Jewellers India Limited	Consumer Discretionary	0.17%
100	Apollo Hospitals Enterprise Limited	Healthcare	0.17%
101	Sun Pharmaceutical Industries Limited	Healthcare	0.17%
102	Hitachi Energy India Limited	Industrials	0.16%
103	Divi's Laboratories Limited	Healthcare	0.16%
104	Bank of India	Financial Services	0.15%
105	8.95% 360 One Prime Limitedbond	—	0.15%
106	8.75% 360 One Prime Limitedbond	—	0.15%
107	Titan Company Limited	Consumer Discretionary	0.14%
108	GAIL (India) Limited	Utilities	0.14%
109	Kaynes Technology India Limited	Industrials	0.14%
110	APL Apollo Tubes Limited	Industrials	0.14%
111	JSW Energy Limited	Utilities	0.14%
112	Bank of Barodabond	—	0.14%
113	Bank of Baroda^bond	—	0.14%
114	Nestle India Limited	Consumer Staples	0.13%
115	Bharat Petroleum Corporation Limited	Energy	0.13%
116	Delhivery Limited	Services	0.13%
117	NBCC (India) Limited	Industrials	0.12%
118	Bajaj Auto Limited	Consumer Discretionary	0.11%
119	PNB Housing Finance Limited	Financial Services	0.11%
120	7.88% Poonawalla Fincorp Limitedbond	—	0.11%
121	Havells India Limited	Consumer Discretionary	0.1%
122	Infosys Limited	Information Technology	0.1%
123	The Phoenix Mills Limited	Real Estate	0.1%
124	Union Bank of India	Financial Services	0.09%
125	Inox Wind Limited	Industrials	0.09%
126	UPL Limited	Materials	0.09%
127	Aditya Birla Capital Limited	Financial Services	0.09%
128	Aurobindo Pharma Limited	Healthcare	0.09%
129	UNO Minda Limited	Consumer Discretionary	0.08%
130	Indian Bank	Financial Services	0.08%
131	Solar Industries India Limited	Materials	0.08%
132	Power Finance Corporation Limited	Financial Services	0.08%
133	Dabur India Limited	Consumer Staples	0.08%
134	DLF Limited	Real Estate	0.07%
135	PB Fintech Limited	Financial Services	0.06%
136	Coforge Limited	Information Technology	0.06%
137	Polycab India Limited	Industrials	0.06%
138	InterGlobe Aviation Limited	Services	0.06%
139	Hindustan Aeronautics Limited	Industrials	0.05%
140	Motilal Oswal Financial Services Limited	Financial Services	0.05%
141	Dalmia Bharat Limited	Materials	0.05%
142	Voltas Limited	Consumer Discretionary	0.05%
143	Suzlon Energy Limited	Industrials	0.05%
144	Colgate Palmolive (India) Limited	Consumer Staples	0.05%
145	Zydus Lifesciences Limited	Healthcare	0.05%
146	GMR AIRPORTS LIMITED	Services	0.05%
147	Tube Investments of India Limited	Consumer Discretionary	0.04%
148	360 ONE WAM LIMITED	Financial Services	0.04%
149	Pidilite Industries Limited	Materials	0.04%
150	Amber Enterprises India Limited	Consumer Discretionary	0.04%
151	CG Power and Industrial Solutions Limited	Industrials	0.04%
152	JINDAL STEEL LIMITED	Materials	0.04%
153	MphasiS Limited	Information Technology	0.04%
154	Dr. Reddy's Laboratories Limited	Healthcare	0.04%
155	FSN E-Commerce Ventures Limited	Consumer Discretionary	0.04%
156	Hyundai Motor India Limited	Consumer Discretionary	0.03%
157	Persistent Systems Limited	Information Technology	0.03%
158	KPIT Technologies Limited	Information Technology	0.03%
159	Samvardhana Motherson International Limited	Consumer Discretionary	0.02%
160	Angel One Limited	Financial Services	0.02%
161	Bajaj Holdings & Investment Limited	Financial Services	0.02%
162	LTM Limited	Information Technology	0.02%
163	HCL Technologies Limited	Information Technology	0.02%
164	Godrej Consumer Products Limited	Consumer Staples	0.02%
165	Hindustan Petroleum Corporation Limited	Energy	0.02%
166	Cash Margin - CCILother	—	0.02%
167	United Spirits Limited	Consumer Staples	0.01%
168	Radico Khaitan Limited	Consumer Staples	0.01%
169	Vedanta Limited	Materials	0.01%
170	SBI Cards and Payment Services Limited	Financial Services	0.01%
171	Bajaj Finserv Limited	Financial Services	0.01%
172	LIC Housing Finance Limited	Financial Services	0.01%
173	Jubilant Foodworks Limited	Consumer Discretionary	0.01%
174	National Aluminium Company Limited	Materials	0.01%
175	Torrent Pharmaceuticals Limited	Healthcare	0.01%
176	Lupin Limited	Healthcare	0.01%
177	Mankind Pharma Limited	Healthcare	0.01%
178	Oberoi Realty Limited	Real Estate	0.01%
179	Vishal Mega Mart Limited	Consumer Discretionary	0.01%
180	Britannia Industries Limited	Consumer Staples	0%
181	Petronet LNG Limited	Utilities	0%
182	PG Electroplast Limited	Consumer Discretionary	0%
183	Net Current Assetsother	—	-1.16%

Frequently Asked Questions

Yes. As of its 31 July 2026 disclosure, Reliance Industries Limited is 4.58% of NIPPON INDIA ARBITRAGE FUND's net assets — its number 1 holding.

Yes. As of its 31 July 2026 disclosure, HDFC Bank Limited is 4.37% of NIPPON INDIA ARBITRAGE FUND's net assets — its number 2 holding.

Yes. As of its 31 July 2026 disclosure, Axis Bank Limited is 2.87% of NIPPON INDIA ARBITRAGE FUND's net assets — its number 3 holding.

Yes. As of its 31 July 2026 disclosure, JSW Steel Limited is 2.03% of NIPPON INDIA ARBITRAGE FUND's net assets — its number 4 holding.

Yes. As of its 31 July 2026 disclosure, State Bank of India is 2% of NIPPON INDIA ARBITRAGE FUND's net assets — its number 5 holding.

New to reading these? See How to Read a Mutual Fund's Monthly Portfolio Disclosure, or check terms like % to NAV in the glossary.

Source: Nippon India Mutual Fund's SEBI-mandated monthly portfolio disclosure, dated 31 July 2026. Data is for information only, not investment advice. Holdings may have changed since the disclosure date.