- Fund Overview
- Largest Additions by Share Count
- Largest Addition by Percentage Change
- Other Stocks with Increased Holdings
- Stock with Reduced Holding
- Stocks with no Change in Holding
- Fund Returns
- Cash, Debt and Arbitrage Allocation
- Summary
Parag Parikh Flexi Cap Fund is the largest actively managed flexi-cap mutual fund scheme in India by assets under management. According to PPFAS Mutual Fund's monthly portfolio disclosure, the fund increased its holding in 16 stocks, reduced its holding in 1 stock, and left 15 stocks unchanged during May 2026. The total number of stocks held remained at 32, the same as in April. The fund's AUM stood at ₹1.41 lakh crore as of May 31, 2026.
Fund Overview
| Metric | Value (as of May 31, 2026) |
| AUM | ₹1.41 lakh crore |
| Total stocks held | 32 |
| Launch date | May 24, 2013 |
| Benchmark | NIFTY 500 TRI |
| Largest sector allocation | Banks (20.13%) |
| Second-largest allocation | Debt and money market instruments (9.94%) |
| Fund managers | Rajeev Thakkar, Raunak Onkar, Raj Mehta, Rukun Tarachandani, Tejas Soman, Mansi Kariya, Aishwarya Dhar |
Largest Additions by Share Count
The fund added approximately 4.46 crore shares of ITC during May. This took the total ITC holding from 24.32 crore shares in April to 28.78 crore shares in May.
The fund added approximately 47.20 lakh shares of HDFC Bank during May.
Largest Addition by Percentage Change
The fund added approximately 4.99 crore shares of Indraprastha Gas during May, taking the total holding to 8.78 crore shares.
Other Stocks with Increased Holdings
The fund also increased its holdings in the following 11 stocks during May. Exact share counts for these additions were not specified in the disclosure.
- Bajaj Holdings & Investment
- CMS Info Systems
- Coal India
- HCL Technologies
- ICICI Bank
- Indian Energy Exchange
- Infosys
- Kotak Mahindra Bank
- Mahindra & Mahindra
- Power Grid Corporation
- Mahanagar Gas
Stock with Reduced Holding
The fund reduced its holding in Cipla by approximately 3.24 lakh shares during May. This took the holding from 1.43 crore shares in April to 1.40 crore shares in May.
Stocks with no Change in Holding
The following 15 stocks saw no change in share count during May:
Axis Bank, Bharti Airtel, CDSL, CIE Automotive India, Dr Reddy's Laboratories, EID Parry India, ICRA, Indus Towers, Maruti Suzuki India, Narayana Hrudayalaya, Nesco, TCS, Zydus Wellness.
Fund Returns
The following return data for Parag Parikh Flexi Cap Fund (Direct Plan) is sourced from INDmoney, as of mid-June 2026.
| Period | Return |
| 1 year | -3.25% |
| 3 years (CAGR) | 15.32% |
| 5 years (CAGR) | 15.10% |
Mutual fund returns change with market conditions. Past performance does not guarantee future returns.
Cash, Debt and Arbitrage Allocation
As of May 31, 2026, 14.77% of the portfolio was held in cash, debt and money market instruments, and arbitrage positions. In its monthly release, PPFAS Mutual Fund stated that this allocation can be deployed into long-term investments at appropriate levels, and that the fund house continues to evaluate individual investments on their own merits.
Summary
During May 2026, Parag Parikh Flexi Cap Fund increased its holding in 16 stocks, reduced its holding in 1 stock, and left 15 stocks unchanged. The total stock count remained at 32. The fund's AUM was ₹1.41 lakh crore, with 14.77% of the portfolio held in cash, debt and money market instruments, and arbitrage positions.