India’s biggest active fund dumps Meta, adds Netflix in major US portfolio reshuffle

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Parag Parikh Flexi Cap Fund exited Meta Platforms entirely, added Netflix as a new holding, reduced exposure to Microsoft, Alphabet and Amazon, and increased its allocation to…

Parag Parikh Flexi Cap Fund, one of India's largest active equity funds with assets under management of around ₹1.47 lakh crore, has made significant changes to its US stock portfolio, exiting Meta Platforms entirely and adding Netflix as a new holding in October.

The fund's October 2026 portfolio shows that Netflix, which had no allocation in September, accounted for 3.06% of the portfolio by the end of October, making it the fund's biggest new addition during the month.

At the same time, the fund completely exited Meta Platforms, whose portfolio weight stood at 2.83% in September. Its allocation to the social media company fell to zero in October.

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The fund also reduced its exposure to Microsoft, with its portfolio weight declining from 2.48% in September to 1.42% in October.

Other US stock holdings saw smaller reductions. Alphabet's weight fell from 4.29% to 3.42%, while Amazon's allocation declined from 2.30% to 2.17%.

The portfolio changes also show a reduction in the fund's overall overseas equity allocation, which declined from 11.90% in September to 10.07% in October.

In contrast, the allocation to Indian equities increased from 72.06% to 75.25% during the month. The fund's allocation to cash, debt and arbitrage investments declined from 9.77% to 8.78%.

PPFAS has not provided an explanation for the changes in its US stock holdings. The portfolio disclosures do not specify the rationale behind the exit from Meta or the addition of Netflix.

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