NJ Arbitrage Fund

NJ Mutual FundHybridPortfolio as of 30 September 2026

NJ Arbitrage Fund holds 137 instruments (80.39% equity), led by Kotak Mahindra Bank Limited (7.11%), Reliance Industries Limited (6.48%) and Vodafone Idea Limited (6.08%), as of its 30 September 2026 SEBI-mandated monthly disclosure.

Holdings
137
Equity Allocation
80.39%
AMC
NJ Mutual Fund
Category
Hybrid

This page shows the complete disclosed portfolio of NJ Arbitrage Fund, managed by NJ Mutual Fund, based on its monthly portfolio disclosure dated 30 September 2026. The fund holds 137 instruments with an equity allocation of 80.39%. Percentages are of net assets (% to NAV). Click any stock to see every other mutual fund that also holds it.

Portfolio Analysis

NJ Arbitrage Fund's top 10 holdings account for 47.89% of its portfolio, more concentrated than the Hybrid category average of 27.4%. Financial Services is its largest sector exposure at 31.55% of net assets, spread across 12 sectors in total. Since its 31 August 2026 disclosure, the fund added 2 new positions and exited 3 positions, with HDFC Bank Limited seeing the largest move (+2.28pp to 5.56%).

Sector Breakdown

Equity holdings grouped by sector, % to NAV. "Other" covers debt, cash and other non-equity instruments, plus any equity holding without a classified sector.

Financial Services
31.55%
Telecommunication
12.08%
Materials
10.48%
Healthcare
6.57%
Energy
6.48%
Consumer Discretionary
4.47%
Utilities
2.98%
Consumer Staples
2.8%
Information Technology
1.55%
Industrials
1.11%
Services
0.21%
Real Estate
0.11%
Other
-61.06%

Top 10 Equity Holdings

What Changed: August 2026 → September 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.

2 new entries3 exits3 increased10 reduced

Biggest Weight Increases

StockWeightChange
HDFC Bank Limited3.28% → 5.56%▲ +2.28
ICICI Bank Limited2.82% → 3.43%▲ +0.61
Adani Enterprises Limited3.93% → 4.06%▲ +0.13

Biggest Weight Reductions

StockWeightChange
Bharti Airtel Limited7% → 5.73%▼ -1.27
Kotak Mahindra Bank Limited7.91% → 7.11%▼ -0.8
One 97 Communications Limited0.73% → 0.1%▼ -0.63
Vodafone Idea Limited6.61% → 6.08%▼ -0.53
Reliance Industries Limited6.85% → 6.48%▼ -0.37
Sun Pharmaceutical Industries Limited4.51% → 4.2%▼ -0.31
Biocon Limited2.2% → 2.01%▼ -0.19
Dabur India Limited0.62% → 0.43%▼ -0.19
Mahindra & Mahindra Limited2.04% → 1.86%▼ -0.18
Canara Bank3.3% → 3.16%▼ -0.14

Top Holdings — Weight Trend

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

Apr: 6.95%, May: 6.39%, Jun: 6.47%, Jul: 6.32%, Aug: 7.91%, Sept: 7.11%
7.11%
Apr: 8.03%, May: 7.22%, Jun: 7.02%, Jul: 6.97%, Aug: 6.85%, Sept: 6.48%
6.48%
Apr: 3.49%, May: 5.69%, Jun: 5.83%, Jul: 5.15%, Aug: 6.61%, Sept: 6.08%
6.08%
Apr: 7.51%, May: 7.09%, Jun: 6.96%, Jul: 7.28%, Aug: 7%, Sept: 5.73%
5.73%
Apr: 3.78%, May: 3.4%, Jun: 3.63%, Jul: 2.63%, Aug: 3.28%, Sept: 5.56%
5.56%

Full Portfolio (137 holdings)

#HoldingSector% to NAV
1Kotak Mahindra Bank LimitedFinancial Services7.11%
2Reliance Industries LimitedEnergy6.48%
3Vodafone Idea LimitedTelecommunication6.08%
4Bharti Airtel LimitedTelecommunication5.73%
5HDFC Bank LimitedFinancial Services5.56%
6Sun Pharmaceutical Industries LimitedHealthcare4.2%
7Clearing Corporation of India Ltdother—4.18%
8Adani Enterprises LimitedMaterials4.06%
9ICICI Bank LimitedFinancial Services3.43%
10Canara BankFinancial Services3.16%
11364 Days Treasury Billtbill—2.61%
12364 Days Treasury Billstbill—2.55%
13182 Days Treasury Billstbill—2.13%
14UltraTech Cement LimitedMaterials2.08%
15ITC LimitedConsumer Staples2.03%
16Biocon LimitedHealthcare2.01%
17Mahindra & Mahindra LimitedConsumer Discretionary1.86%
18Adani Power LimitedUtilities1.64%
19Bank of BarodaFinancial Services1.61%
20Bajaj Finance LimitedFinancial Services1.6%
21Axis Bank LimitedFinancial Services1.47%
22State Bank of IndiaFinancial Services1.41%
23SBI Life Insurance Company LimitedFinancial Services1.38%
24Tata Steel LimitedMaterials1.3%
25364 Days Treasury Billstbill—1.28%
26Yes Bank LimitedFinancial Services1.25%
27364 Days Treasury Billtbill—1.25%
28364 Days Treasury Billbond—1.25%
29Steel Authority of India LimitedMaterials1.2%
30Eicher Motors LimitedConsumer Discretionary1.19%
31Net Receivables / (Payables)other—0.87%
3291 Days Treasury Billstbill—0.85%
33Coforge LimitedInformation Technology0.85%
34182 Days Treasury Billtbill—0.85%
35Larsen & Toubro LimitedIndustrials0.84%
36364 Days Tbill (MD )tbill—0.84%
37Asian Paints LimitedConsumer Discretionary0.77%
38Bandhan Bank LimitedFinancial Services0.77%
39Ambuja Cements LimitedMaterials0.77%
40Infosys LimitedInformation Technology0.7%
41NTPC LimitedUtilities0.68%
42IDFC First Bank LimitedFinancial Services0.58%
438.24% Government of Indiabond—0.56%
44Tata Power Company LimitedUtilities0.49%
45Indian Energy Exchange LimitedFinancial Services0.48%
46Pidilite Industries LimitedMaterials0.47%
47LIC Housing Finance LimitedFinancial Services0.43%
48Dabur India LimitedConsumer Staples0.43%
49Punjab National BankFinancial Services0.42%
50364 DAYS T-BILL 04032027tbill—0.42%
51HDFC Life Insurance Company LimitedFinancial Services0.37%
52Jio Financial Services LimitedFinancial Services0.35%
53Tata Motors Passenger Vehicles LimitedConsumer Discretionary0.33%
54Divi's Laboratories LimitedHealthcare0.28%
55Indus Towers LimitedTelecommunication0.27%
56Hindustan Aeronautics LimitedIndustrials0.27%
57Grasim Industries LimitedMaterials0.26%
58Crompton Greaves Consumer Electricals LimitedConsumer Discretionary0.25%
59United Spirits LimitedConsumer Staples0.21%
60Power Grid Corporation of India LimitedUtilities0.17%
61Hindalco Industries LimitedMaterials0.14%
62TATA CONSUMER PRODUCTS LIMITEDConsumer Staples0.13%
63Solar Industries India LimitedMaterials0.13%
64GMR AIRPORTS LIMITEDServices0.11%
65Godrej Properties LimitedReal Estate0.11%
66One 97 Communications LimitedFinancial Services0.1%
67InterGlobe Aviation LimitedServices0.1%
68Torrent Pharmaceuticals LimitedHealthcare0.08%
69Titan Company LimitedConsumer Discretionary0.07%
70SBI Cards and Payment Services LimitedFinancial Services0.04%
71JSW Steel LimitedMaterials0.04%
72Shriram Finance LimitedFinancial Services0.03%
73UPL LimitedMaterials0.03%
74Crompton Greaves Consumer Electricals Limited Futureother—-0.02%
75Adani Power Limited Futureother—-0.03%
76UPL Limited Futureother—-0.03%
77Shriram Finance Limited Futureother—-0.03%
78JSW Steel Limited Futureother—-0.04%
79SBI Cards and Payment Services Limited Futureother—-0.04%
80Titan Company Limited Futureother—-0.07%
81Torrent Pharmaceuticals Limited Futureother—-0.08%
82InterGlobe Aviation Limited Futureother—-0.1%
83One 97 Communications Limited Futureother—-0.1%
84GMR Airports Limited Futureother—-0.11%
85Godrej Properties Limited Futureother—-0.11%
86Solar Industries India Limited Futureother—-0.13%
87Tata Consumer Products Limited Futureother—-0.13%
88Hindalco Industries Limited Futureother—-0.14%
89Power Grid Corporation of India Limited Futureother—-0.17%
90United Spirits Limited Futureother—-0.21%
91Crompton Greaves Consumer Electricals Limited Futureother—-0.23%
92Grasim Industries Limited Futureother—-0.26%
93Hindustan Aeronautics Limited Futureother—-0.27%
94Indus Towers Limited Futureother—-0.27%
95Divi's Laboratories Limited Futureother—-0.28%
96Tata Motors Passenger Vehicles Limited Futureother—-0.33%
97Jio Financial Services Limited Futureother—-0.35%
98HDFC Life Insurance Company Limited Futureother—-0.37%
99Punjab National Bank Futureother—-0.43%
100Dabur India Limited Futureother—-0.43%
101LIC Housing Finance Limited Futureother—-0.43%
102Pidilite Industries Limited Futureother—-0.47%
103Indian Energy Exchange Limited Futureother—-0.48%
104Tata Power Company Limited Futureother—-0.49%
105IDFC First Bank Limited Futureother—-0.58%
106NTPC Limited Futureother—-0.68%
107Infosys Limited Futureother—-0.7%
108Ambuja Cements Limited Futureother—-0.77%
109Asian Paints Limited Futureother—-0.77%
110Bandhan Bank Limited Futureother—-0.77%
111Larsen & Toubro Limited Futureother—-0.84%
112Coforge Limited Futureother—-0.86%
113Reliance Industries Limited Futureother—-1.02%
114HDFC Bank Limited Futureother—-1.04%
115Steel Authority of India Limited Futureother—-1.18%
116Eicher Motors Limited Futureother—-1.2%
117Yes Bank Limited Futureother—-1.26%
118Tata Steel Limited Futureother—-1.31%
119SBI Life Insurance Company Limited Futureother—-1.38%
120State Bank of India Futureother—-1.42%
121Axis Bank Limited Futureother—-1.47%
122Bajaj Finance Limited Futureother—-1.61%
123Adani Power Limited Futureother—-1.61%
124Bank of Baroda Futureother—-1.63%
125Mahindra & Mahindra Limited Futureother—-1.86%
126Biocon Limited Futureother—-2.03%
127ITC Limited Futureother—-2.04%
128UltraTech Cement Limited Futureother—-2.08%
129Canara Bank Futureother—-3.19%
130ICICI Bank Limited Futureother—-3.45%
131Adani Enterprises Limited Futureother—-4.05%
132Sun Pharmaceutical Industries Limited Futureother—-4.24%
133HDFC Bank Limited Futureother—-4.58%
134Reliance Industries Limited Futureother—-5.49%
135Bharti Airtel Limited Futureother—-5.76%
136Vodafone Idea Limited Futureother—-6.09%
137Kotak Mahindra Bank Limited Futureother—-7.11%

More funds from NJ Mutual Fund

All NJ Mutual Fund schemes →

Frequently Asked Questions

Yes. As of its 30 September 2026 disclosure, Kotak Mahindra Bank Limited is 7.11% of NJ Arbitrage Fund's net assets — its number 1 holding.
Yes. As of its 30 September 2026 disclosure, Reliance Industries Limited is 6.48% of NJ Arbitrage Fund's net assets — its number 2 holding.
Yes. As of its 30 September 2026 disclosure, Vodafone Idea Limited is 6.08% of NJ Arbitrage Fund's net assets — its number 3 holding.
Yes. As of its 30 September 2026 disclosure, Bharti Airtel Limited is 5.73% of NJ Arbitrage Fund's net assets — its number 4 holding.
Yes. As of its 30 September 2026 disclosure, HDFC Bank Limited is 5.56% of NJ 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: NJ Mutual Fund's SEBI-mandated monthly portfolio disclosure, dated 30 September 2026. Data is for information only, not investment advice. Holdings may have changed since the disclosure date.