International Diversification on WebNotes

Alphabet (Google) at PPFCF

Sat, 16 May 2026 00:00:00 +0000

Lead

Alphabet Inc. , the parent holding company of Google , has been one of the most enduring international positions in the Parag Parikh Flexi Cap Fund (PPFCF). It was among the first foreign-listed equities held by the scheme after its launch in May 2013, when the fund still carried the name Parag Parikh Long Term Value Fund (PPLTVF). The position became a foundational template for PPFAS Mutual Fund ’s international-diversification strategy and remains a cornerstone of the fund’s foreign-equity sleeve.

Amazon at PPFCF

Sat, 16 May 2026 00:00:00 +0000

Lead

Amazon.com, Inc. has been one of the most significant international holdings of the Parag Parikh Flexi Cap Fund (PPFCF) over its history. During a disclosure period in 2025 it was the single largest equity position in the scheme at 8.51 per cent of net assets, edging ahead of ITC at PPFCF at 7.99 per cent and Alphabet at PPFCF at 7.08 per cent. The position was first established when PPFCF still carried the name Parag Parikh Long Term Value Fund (PPLTVF) and has been retained through the Amazon Web Services (AWS) scaling, the international e-commerce expansion and the post-pandemic capital-allocation reset.

Berkshire Hathaway class B at PPFCF (historic)

Sat, 16 May 2026 00:00:00 +0000

Lead

Berkshire Hathaway Inc. class B shares have appeared periodically in the foreign-equity sleeve of the Parag Parikh Flexi Cap Fund (PPFCF) over the scheme’s history. Unlike the four continuously held technology anchors, Alphabet at PPFCF , Microsoft at PPFCF , Amazon at PPFCF and Meta Platforms at PPFCF , Berkshire has been a periodic rather than continuous holding. The position has appeared and disappeared from various factsheets depending on valuation, currency considerations and the relative attractiveness of other foreign opportunities.

Meta Platforms at PPFCF

Sat, 16 May 2026 00:00:00 +0000

Lead

Meta Platforms, Inc. , formerly Facebook, Inc., has been one of the four anchor international holdings of the Parag Parikh Flexi Cap Fund (PPFCF) since the early years of the scheme. The position was initiated when the company was still listed as Facebook Inc. on Nasdaq and has been retained through the corporate rebranding to Meta Platforms in October 2021, the substantial Reality Labs investment cycle and the subsequent reset towards artificial intelligence and operational discipline.

Microsoft at PPFCF

Sat, 16 May 2026 00:00:00 +0000

Lead

Microsoft Corporation has been a sustained, long-term international holding of the Parag Parikh Flexi Cap Fund (PPFCF) since the earlier years of the scheme. The position was built when PPFCF still carried the name Parag Parikh Long Term Value Fund (PPLTVF), and it has been retained through the Satya Nadella reinvention of the company, the rise of Microsoft Azure as the second-largest public cloud, and the post-2022 transition into artificial intelligence and Copilot products.

Parag Parikh Flexi Cap Fund

Sat, 16 May 2026 00:00:00 +0000

The Parag Parikh Flexi Cap Fund (commonly PPFCF) is the flagship equity mutual fund scheme of PPFAS Mutual Fund , formally an open-ended equity-oriented mutual fund scheme of the Flexi Cap category under the SEBI Mutual Funds Regulations 1996 framework. PPFCF was launched on 24 May 2013 by PPFAS Asset Management Private Limited and has been continuously managed by Rajeev Thakkar (Chief Investment Officer of PPFAS Mutual Fund) since its launch, with Raunak Onkar (Head of Research) and Raj Mehta (debt and overseas allocation) as co-fund managers.

PPFAS foreign core rationale: Alphabet, Microsoft, Meta, Amazon

Sat, 16 May 2026 00:00:00 +0000

The PPFAS foreign core rationale is the body of investment reasoning through which PPFAS Mutual Fund has concentrated the overseas equity allocation of the Parag Parikh Flexi Cap Fund in a tightly limited core of US-listed mega-cap technology and consumer-digital franchises, principally Alphabet Inc. , Microsoft Corporation , Amazon.com Inc. and Meta Platforms Inc. , with Berkshire Hathaway Class B appearing as an additional core holding through earlier periods. The foreign core rationale is structurally consistent with the broader PPFAS investment philosophy of value investing , margin of safety , focused portfolio construction and the owner mindset framework, and it has been continuously articulated by Chief Investment Officer Rajeev Thakkar , Head of Research Raunak Onkar and Chairman and CEO Neil Parikh since the May 2013 launch of the scheme.

PPFAS investment philosophy

Sat, 16 May 2026 00:00:00 +0000

The PPFAS investment philosophy is the distinctive value-investing and behavioural-finance framework that guides portfolio construction and management at PPFAS Mutual Fund . The philosophy was articulated by founder Parag Parikh through his two books, Stocks to Riches (2005) and Value Investing and Behavioral Finance (2009), and through his client letters and media writings during his career at Parag Parikh Financial Advisory Services Limited. Following Parag Parikh’s death in the 3 May 2015 Omaha road accident, the philosophy has been continuously developed and codified by Chief Investment Officer Rajeev Thakkar (the lead fund manager of the Parag Parikh Flexi Cap Fund since launch on 24 May 2013), Head of Research Raunak Onkar, and the broader PPFAS investment team, with continuing oversight from Chairman and CEO Neil Parikh .

PPFAS Mutual Fund

Sat, 16 May 2026 00:00:00 +0000

PPFAS Mutual Fund is an Indian asset management company , formally constituted as PPFAS Asset Management Private Limited (the AMC) and sponsored by Parag Parikh Financial Advisory Services Limited (PPFAS Ltd, the sponsor). The fund house is among the most distinctively positioned AMCs in India, operating a deliberately small scheme portfolio of seven active funds anchored by the Parag Parikh Flexi Cap Fund (PPFCF), a globally diversified equity scheme that combines Indian equities with a substantial allocation to international stocks (predominantly US-listed mega-cap technology and financial companies) alongside a cash and arbitrage overlay.

PPFCF vs HDFC Flexi Cap Fund

Sat, 16 May 2026 00:00:00 +0000

The Parag Parikh Flexi Cap Fund (PPFCF) and the HDFC Flexi Cap Fund are the two largest schemes in the flexi cap mutual fund category in India, between them accounting for a material share of the category’s industry-wide assets under management . Both schemes operate under the flexi cap categorisation created by SEBI in November 2020, which permits a fund to invest across large, mid, and small market-capitalisation segments without any minimum allocation constraint to any single segment, subject only to a minimum 65 per cent in equity and equity-related instruments. Despite operating under the same regulatory category, the two schemes differ materially in investment philosophy, portfolio construction, international allocation, fund manager tenure, distribution architecture, and the way each AMC interprets the flexi cap freedom.

PPFCF vs international FoFs for global exposure

Sat, 16 May 2026 00:00:00 +0000

The Parag Parikh Flexi Cap Fund (PPFCF) and international Fund-of-Funds (FoFs) are two structurally different vehicles available to Indian investors seeking global equity exposure within the regulated mutual fund wrapper. PPFCF, the flagship scheme of PPFAS Mutual Fund , embeds up to 35 per cent overseas-listed equity allocation within a single Indian equity-oriented flexi cap scheme. International FoFs, such as the various S&P 500 FoF and Nasdaq 100 FoF products offered by AMCs including Motilal Oswal Mutual Fund , ICICI Prudential Mutual Fund , Mirae Asset Mutual Fund , Kotak Mahindra Mutual Fund and others, invest in underlying overseas index ETFs to provide pure international exposure.

PPFCF vs Kotak Flexi Cap Fund

Sat, 16 May 2026 00:00:00 +0000

The Parag Parikh Flexi Cap Fund (PPFCF) and the Kotak Flexi Cap Fund are two of the larger schemes in the flexi cap mutual fund category in India. While both schemes operate under the SEBI flexi cap categorisation created in November 2020, the two represent fundamentally different orientations within the category. PPFCF, the flagship scheme of PPFAS Mutual Fund , is an explicit value-investing scheme with a doctrinal commitment to international diversification and a focused portfolio of approximately 25 to 37 stocks. The Kotak Flexi Cap Fund, managed by Kotak Mahindra Mutual Fund , is a growth-at-reasonable-price scheme with a domestic-only mandate and a broader portfolio of approximately 50 to 65 stocks.

PPFCF vs SBI Flexi Cap Fund

Sat, 16 May 2026 00:00:00 +0000

The Parag Parikh Flexi Cap Fund (PPFCF) and the SBI Flexi Cap Fund represent two structurally different schemes within the same SEBI flexi cap mutual fund category. PPFCF, the flagship scheme of PPFAS Mutual Fund , is a focused value-investing scheme of approximately 25 to 37 stocks with the regulatory permission to allocate up to 35 per cent of net assets to overseas-listed equities. The SBI Flexi Cap Fund, managed by SBI Mutual Fund (India’s largest AMC by AUM), is a domestic-only diversified scheme with a broader portfolio of approximately 55 to 75 stocks across large, mid, and small market-capitalisation segments.