Parag Parikh Flexi Cap Fund Cuts Cash Allocation to 8.78% as Indian Equity Exposure Rises

Key Takeaways

• Parag Parikh Flexi Cap Fund's cash, debt, money-market and arbitrage allocation fell to 8.78% in October 2026 from 25.31% a year earlier.
• Indian core equity exposure increased to 75.25% from 62.55% over the same period.
• The fund raised exposure to 14 domestic stocks during October and also made changes to its overseas portfolio.

Parag Parikh Flexi Cap Fund has deployed a considerably larger portion of its portfolio into equities over the past year, with its cash and related holdings falling to their lowest level in the period covered by its latest disclosure.

The allocation to cash, debt, money-market instruments and arbitrage positions stood at 8.78% in October 2026, down from 25.31% in October 2025. That represents a reduction of 16.53 percentage points over 12 months.

The shift occurred progressively. The allocation had declined to 21.34% by January, 18.94% in March, 11.58% in August and 9.77% in September before reaching 8.78% in October.

At the same time, the fund's Indian core equity allocation rose from 62.55% in October 2025 to 75.25% in October 2026.

Its October domestic portfolio contained 33 stocks. Exposure was increased to 14 companies, including Mahindra & Mahindra, Coal India, Indus Towers, DLF, Petronet LNG, Indraprastha Gas, Mahanagar Gas and Maruti Suzuki. No domestic stock was completely added or exited during the month, according to the portfolio disclosure.

The fund also altered its overseas portfolio. Meta Platforms was exited, Netflix was added and exposure to Microsoft was reduced, according to the October disclosures reviewed by Moneycontrol.

Parag Parikh Flexi Cap Fund had assets under management of about ₹1.46 lakh crore in October, making it the largest actively managed flexi-cap scheme by AUM in the dataset cited by ET.

The portfolio changes illustrate how the fund's asset mix has evolved rather than signalling any assured direction for future performance. Cash levels in actively managed schemes can move as fund managers identify or exit individual opportunities, while equity allocations remain subject to market movements and portfolio decisions.