Parag Parikh Flexi Cap Fund Direct Growth NAV Rises to ₹89.72 on 17 September; Top Five Holdings at 29.28%

Key Takeaways 

• Parag Parikh Flexi Cap Fund Direct Growth NAV rose 0.31% to ₹89.72 on 17 September 2026. The daily increase was modest, with the fund remaining close to its previous valuation level. 
• The latest one-year return stood at -5.25%, whereas the three-year CAGR was 11.90% and the five-year CAGR was 11.10%. This created a sizeable gap between the recent 12-month return and the scheme's longer annualised performance. 
• HDFC Bank was the largest disclosed holding at 7.63%. Together with ICICI Bank, Power Grid Corporation, ITC and Bajaj Holdings, the five largest positions represented 29.28% of the portfolio. 
• The scheme managed approximately ₹147,405 crore and carried a Direct Growth expense ratio of 0.69%. Minimum SIP and lump-sum investments were both ₹1,000. 

Parag Parikh Flexi Cap Fund Direct Growth NAV moved 0.31% higher to ₹89.72 on 17 September 2026. The scheme's three-year CAGR stood at 11.90%, while its fund size was approximately ₹147,405 crore. The Direct Growth expense ratio was 0.69%. Both the minimum SIP and minimum lump-sum investment stood at ₹1,000. 

The latest one-year return remained negative at -5.25%, creating a marked difference from the longer performance windows. Over three years, the fund recorded an annualised return of 11.90%, while the five-year CAGR was 11.10%. The five-year figure was therefore 16.35 percentage points above the latest one-year return. The three-year CAGR exceeded the five-year figure by 0.80 percentage points. 

Portfolio concentration remained moderate among the largest disclosed positions. HDFC Bank accounted for 7.63%, followed by ICICI Bank at 5.67%, Power Grid Corporation at 5.58%, ITC at 5.26% and Bajaj Holdings at 5.14%. Together, these five holdings represented 29.28% of assets, leaving 70.72% distributed across the remainder of the portfolio and other components. 

Historical risk statistics placed alpha at 3.61 and beta at 0.62. Standard deviation stood at 2.94, accompanied by a Sharpe ratio of 0.83. These figures describe the scheme's past behaviour under the relevant calculation framework and do not determine how its NAV will move in subsequent periods. 

As a flexi-cap fund, the scheme can allocate capital across large-, mid- and small-cap companies without maintaining a fixed proportion in each segment. Its latest portfolio snapshot therefore combines a broad market-cap mandate with a top-five holding share of just under three-tenths of total assets.