Parag Parikh Flexi Cap Fund raises stake in ITC, 10 others; trims Infosys exposure in December

Parag Parikh Flexi Cap Fund, the largest flexicap fund and active fund based on assets managed, increased stakes in ITC and 10 other stocks in December, meanwhile reduced stakes in Infosys in the same period.

The fund added about 39.28 lakh shares of ITC during the month. It also bought 2.12 crore shares of Power Grid Corporation of India, taking its total holding in the stock to 30.54 crore shares in December.

Meanwhile, 52 lakh shares of HDFC Bank and 40 lakh shares of ICICI Bank were added to its portfolio during the said time period. Nearly 2 lakh shares of Cipla were added to the flexicap fund portfolio in December.


In other stocks, it increased its stakes further, including EID Parry India, HCL Technologies, Kotak Mahindra Bank, Mahindra & Mahindra, TCS, and Zydus Lifesciences.

However, reduced its exposure in Infosys by selling 12 lakh shares from its portfolio and taking the total number of shares to 1.64 crore in December, compared to 1.76 crore in November 2025.

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The Great Eastern Shipping Company emerged as a new entrant in the flexicap fund’s portfolio, with the fund purchasing 16.57 lakh shares in December. No complete exits were recorded during the period.

The exposure in 17 stocks remained unchanged, which includes stocks such as Axis Bank, Bharti Airtel, Coal India, ICRA, Indian Energy Exchange, Indus Towers, Maharashtra Scooters, Maruti Suzuki India, MCX, Nesco, Swaraj Engines, and Zydus Wellness.

The total number of stocks in the portfolio went up from 29 in November to 30 in December 2025.

The investment objective of the fund is to generate long-term capital growth from an actively managed portfolio primarily of equity and equity-related securities, and the scheme shall invest in Indian equities, foreign equities, related instruments, and debt securities.

The fund had an AUM of Rs 1.29 lakh crore as on December 31, 2025, and is benchmarked against NIFTY 500 (TRI). It is managed by Rajeev Thakkar, Raunak Onkar, Raj Mehta, Rukun Tarachandani, Tejas Soman, Mansi Kariya, and Aishwarya Dhar.

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On the industry allocation, the fund had the highest allocation in banks of around 20.14% as of December 31, 2025.

According to the monthly release, the core portfolio of the fund consists of equity investments made with a long term outlook, and the factors considered while investing are quality of management, quality of the sector, and the business (return on capital, entry barriers, capital intensity, use of debt, growth prospects, etc.), and the valuation of the companies.

On the outlook part, the fund house said, “We continue to look at individual investments on their own merits and will not hesitate to invest if an opportunity looks attractive. As usual, our investment stance does not depend much on the macroeconomic situation but is focused on individual companies. We have about 24.04% in cash holdings, debt & money market instruments, and arbitrage positions which can be deployed in long term investments at appropriate levels.”

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