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PPFAS Asset Management Private Limited
Rajeev Thakkar · Asset Manager · Value
PPFAS Asset Management Private Limited is an Indian investment management firm established in 2012, succeeding the portfolio management business founded by the late Parag Parikh in 1992. The firm is widely recognized for its adherence to value investing principles and its focus on behavioral finance. It is known for its 'skin-in-the-game' approach, where the management and employees invest significantly in their own schemes. The flagship Parag Parikh Flexi Cap Fund is its most notable offering, characterized by a long-term, diversified portfolio that includes both Indian and international equities. PPFAS emphasizes transparency, simplicity, and a disciplined investment process, often citing the 'Law of the Farm' to describe the patient growth of capital. The firm avoids complex products and market timing, aiming instead for sustainable wealth creation for its unitholders through a concentrated yet diversified approach to equity investing.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | -7.2% |
| YTD return | -12.4% |
| Sharpe ratio | -2.79 |
| Win rate | 33% |
| AUM | $4.0B |
| Inception | Oct 1, 2025 |
| Updated | Sep 21, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $4.0B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://amc.ppfas.com/ |
Current Holdings
Updated on Sep 21, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| HDB | HDFC Bank Limited ADR | 29.2% | -30.0% |
| IBN | ICICI Bank Limited | 17.7% | -6.7% |
| GOOGL | Alphabet Inc Class A | 14.5% | +45.0% |
| META | Meta Platforms Inc. | 9.2% | +4.2% |
| RDY | Dr. Reddy’s Laboratories Ltd ADR | 8.6% | -12.2% |
| MSFT | Microsoft Corporation | 7.3% | -2.0% |
| AMZN | Amazon.com Inc | 7.2% | +17.1% |
| INFY | Infosys Ltd ADR | 6.0% | -32.6% |
| WIT | Wipro Limited ADR | 0.3% | -36.5% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Aug 17, 2026 | SELL | IBN | 17.7% → 16.3% |
| Aug 17, 2026 | BUY | INFY | 6.0% → 9.8% |
| Aug 17, 2026 | SELL | MSFT | 7.3% → 6.6% |
| Aug 17, 2026 | SELL | META | 9.2% → 6.3% |
| Aug 17, 2026 | SELL | WIT | 0.3% → 0.2% |
Investment Style Analysis
PPFAS Asset Management Private Limited is widely recognized for employing a Value strategy. As of Sep 21, 2026, the firm oversees approximately $4.0B in assets under management (AUM). The portfolio demonstrates a clear preference for the Banks - Regional and Internet Content & Information sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Aug 17, PPFAS Asset Management Private Limited made a significant move by reducing the position in IBN. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
The institution follows a value-centric investment philosophy, drawing inspiration from the principles of Benjamin Graham and Warren Buffett. It focuses on long-term wealth creation by investing in businesses with strong fundamentals, competent management, and sustainable competitive advantages, particularly when they are available at a margin of safety. PPFAS emphasizes a 'buy and hold' strategy, ignoring short-term market noise and volatility. A unique aspect of their strategy is the inclusion of foreign equities to provide diversification and access to global growth opportunities, while maintaining a disciplined approach to valuation and risk management. The firm also integrates behavioral finance into its process to avoid common psychological pitfalls in investing, adhering to the 'Law of the Farm' which stresses that wealth creation is a gradual process that cannot be hurried.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with PPFAS Asset Management Private Limited.
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Frequently asked questions
How is the simulated portfolio for PPFAS Asset Management Private Limited constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is PPFAS Asset Management Private Limited's largest holding?
As of the latest filing, PPFAS Asset Management Private Limited's top position is HDFC Bank Limited ADR (HDB), representing 29.2% of the portfolio. This reflects a high-conviction bet by the institution.
What is PPFAS Asset Management Private Limited's historical performance and risk profile?
Our simulation indicates a total return of -7.2% with a win rate of 33%. Notably, the portfolio maintains a Sharpe Ratio of -2.79, suggesting an standard level of risk-adjusted returns compared to the broader market.
What sectors does PPFAS Asset Management Private Limited primarily invest in?
PPFAS Asset Management Private Limited has a strong preference for the Banks - Regional sector, which makes up 46.8% of their disclosed assets. The portfolio also has exposure to Internet Content & Information, indicating a specific thematic focus.
Is PPFAS Asset Management Private Limited's portfolio concentrated or diversified?
PPFAS Asset Management Private Limited runs a highly concentrated portfolio with 9 disclosed positions. The top 3 holdings alone account for 61.3% of the total portfolio weight, suggesting a strategy that favors deep research into a few key names.
How has PPFAS Asset Management Private Limited performed in 2026?
Our AI-simulated model portfolio for PPFAS Asset Management Private Limited tracks a Year-to-Date (YTD) return of -12.4%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Rajeev Thakkar manage PPFAS Asset Management Private Limited directly?
Yes, Rajeev Thakkar serves as the key portfolio manager for PPFAS Asset Management Private Limited, overseeing the investment strategy and final capital allocation decisions.