ICICI PRUDENTIAL MF CUTS FOREIGN EQUITY PORTFOLIO BY OVER RS 5,800 CRORE IN OCT

ICICI Prudential Mutual Fund has sharply pared its overseas exposure, exiting nearly 90 percent of its foreign stocks, recent filings showed.

The fund fully exited 140 overseas stocks and trimmed positions in eight others, amounting to a sale of foreign holdings worth about Rs 5,800 crore. Three holdings remained unchanged. The fund house did not disclose the reason for the large-scale reduction.

Following the sell-off, ICICI Prudential’s overseas book has shrunk to 11 stocks valued at Rs 2,243 crore, compared with 151 stocks worth Rs 7,987 crore in September. In August, the fund held about 149 foreign stocks valued at Rs 7,894 crore.

Microsoft Corp saw the largest individual sale. The fund shed 57,496 Microsoft shares, valued at Rs 265 crore, leaving it with 28,410 shares worth Rs 130 crore in October. Nvidia was next, with ICICI Prudential selling its entire holding of about Rs 251 crore. The fund also exited Apple Inc, where it previously held shares worth Rs 210 crore during the month.

Alphabet Inc became another major exit, with the fund selling all 79,873 shares valued at Rs 172 crore. Amazon.com Inc saw partial trimming, with 89,372 shares sold for about Rs 169 crore.

Other complete exits included Broadcom Inc, Huntington Ingalls Industries, West Pharmaceutical Services Inc, Tesla Inc, Meta Platforms, Agilent Technologies Inc, NXP Semiconductors, Applied Materials, GE Healthcare, US Bancorp Inc, Zimmer Biomet Holdings Inc, Pfizer Inc, and Amgen Inc, among several others.

The fund also pared portions of its stakes in Adobe Systems Inc, Epam Systems Inc, Estee Lauder, Freeport-McMoRan Copper & Gold Inc, and Southern Copper Corp.

Back home, ICICI Prudential Mutual Fund increased its domestic equity book. It now holds 696 Indian stocks valued at about Rs 6.53 lakh crore in October, compared with 686 stocks worth Rs 6.27 lakh crore in September.

2025-11-17T02:30:49Z