Parag Parikh Flexi Cap adds Netflix, exits Meta: What changed in its October portfolio? Check latest stock picks
Parag Parikh Flexi Cap Fund made notable changes to its domestic and international stock portfolios in October 2026, adding Netflix as a new investment, exiting Meta Platforms and reducing its exposure to Microsoft. The fund also increased its holdings in several Indian companies, including DLF, Maruti Suzuki, Mahindra & Mahindra, Indus Towers and Petronet LNG.
The changes are significant for investors tracking one of India's largest actively managed flexi-cap mutual funds. The fund's October portfolio also offers a snapshot of its investment strategy. Large-cap stocks accounted for 67.22% of its domestic equity allocation, while mid-cap and small-cap stocks made up 8.43% and 5.50%, respectively.
Netflix was the fund's biggest new addition. It accounted for 3.06% of the fund's assets under management (AUM) at the end of October.
Among Indian stocks, DLF saw the largest increase in allocation, with its weight rising by 0.88 percentage points compared with September. The fund also raised its exposure to Maruti Suzuki by 0.29 percentage points and Mahindra & Mahindra by 0.25 percentage points.
Indus Towers and Petronet LNG saw their allocations increase by 0.24 and 0.21 percentage points, respectively.
Other additions included Mahanagar Gas, Coal India, Indraprastha Gas and EID Parry.
The fund completely exited Meta Platforms, which had accounted for 2.80% of AUM in the October portfolio-change disclosure.
It also reduced its Microsoft holding, with the reduction equivalent to 1.05% of AUM.
The October portfolio statement confirms that the fund's Microsoft holding fell from approximately 7.33 lakh shares in September to 4.21 lakh shares in October. Meta no longer featured in its portfolio.
Despite the changes, the fund's largest investments remained concentrated in established Indian companies, particularly banks, technology companies and large businesses.
Its top 10 holdings as of October 31, 2026, were:
|
Allocation to AUM |
|
| HDFC Bank | 7.49% |
| Power Grid | 5.63% |
| ITC | 5.49% |
| ICICI Bank | 5.48% |
| Coal India | 4.95% |
| Kotak Mahindra Bank | 4.86% |
| Bajaj Holdings & Investment | 4.65% |
| HCL Technologies | 4.54% |
| Mahindra & Mahindra | 3.95% |
| Infosys | 3.45% |
These 10 stocks accounted for approximately 50.49% of the fund's net assets.
The fund's total AUM stood at approximately ₹1.47 lakh crore at the end of October.
The fund's long-term rolling returns have remained above its benchmark, the Nifty 500 TRI, across the three-, five- and 10-year periods.
The direct plan delivered average annualised rolling returns of 19.01% over three years, 19.04% over five years and 18.87% over 10 years.
|
Period |
Fund |
Nifty 500 TRI |
| 3-year average | 19.01% | 14.82% |
| 5-year average | 19.04% | 14.48% |
| 10-year average | 18.87% | 14.64% |
These are average rolling returns, not point-to-point returns. Rolling returns measure performance across multiple overlapping investment periods and can offer a broader picture of consistency.
However, investors should also note that the fund's lump-sum one-year return was negative as of October 30, 2026. The direct plan returned -5.48%, while the regular plan returned -6.06%. Both were ahead of the Nifty 500 TRI's -6.83% return over the same period.
The October portfolio shows that PPFAS Flexi Cap Fund is maintaining a predominantly large-cap domestic equity allocation while making selective changes to its Indian and overseas stock bets. Its addition of Netflix and exit from Meta are particularly notable international portfolio changes.
However, investors should not treat monthly portfolio additions as automatic buy signals. Stock selection, valuation, investment horizon and risk tolerance remain important when evaluating a mutual fund.
Kirti jha
Kirti Jha is a Senior Content Producer at Mint, where she writes on mutual funds, taxation, personal finance and macroeconomic developments. Her reporting focuses on helping readers understand complex financial developments through data-driven, research-backed stories that explain how policy changes, market trends and regulatory decisions affect investors and households. <br><br> Before joining Mint, Kirti worked at ET Money, where she specialised in mutual fund research and investment analysis. She tracked portfolio disclosures, fund manager strategies, sectoral allocation shifts and investment trends, distilling large datasets into investor-focused insights. Her work combined quantitative analysis with consumer-centric storytelling, enabling readers to better understand fund positioning, portfolio changes and long-term investment opportunities.<br><br> Kirti holds a Bachelor's degree in Economics from Indraprastha College for Women, University of Delhi, and a Master's in Finance from the Jindal School of Banking & Finance at O.P. Jindal Global University. Her academic training emphasised analytical thinking, quantitative research and financial decision-making, providing a strong foundation in understanding capital markets, financial systems and economic policy. With a combined experience in investment research and financial journalism, she is committed to producing accurate, accessible and insightful journalism that empowers readers to make well-informed financial decisions.
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