According to Bloomberg data, seven Indian fund houses collectively hold 3.7 million shares of Alphabet, valued at $934 million as of Monday’s close. PPFAS Asset Management accounts for more than half of this exposure, while SBI Funds Management holds another 39%.
Alphabet now joins Nvidia, Microsoft and Apple as the only publicly traded companies valued above $3 trillion. Indian fund houses together have nearly $2 billion invested across these four giants, with Alphabet alone representing half the total. Their exposure in Microsoft stands at $642 million, followed by $184 million in Nvidia and $149 million in Apple.
Overall, nine of India’s 47 mutual fund houses have investments in one or more of these mega-cap stocks. Among them, Motilal Oswal AMC, ICICI Prudential AMC and Aditya Birla Sun Life AMC hold stakes in all four.
Together, the four companies command a combined market capitalisation of nearly $15 trillion — about 21% of the U.S. equity market. To put it in perspective, Microsoft, Apple, and Alphabet alone are worth over $10 trillion. That compares with the entire Chinese stock market at $12.7 trillion, while India, the fifth-largest, stands at $5.3 trillion.
Back home, the Indian mutual fund industry’s assets under management (AUM) hit a record ₹75.2 lakh crore in August 2025, powered by retail inflows even as foreign investors trimmed holdings. SIP collections for August stood at ₹28,265 crore, underscoring resilient domestic appetite.
Analysts note that passive fund inflows and strong SIP growth are also fueling momentum at mid-sized AMCs such as PPFAS Asset Management, WhiteOak and Motilal Oswal AMC.
Also Read: Alphabet breaks into $3 trillion league with Apple, Microsoft and Nvidia
(Edited by : Poonam Behura)
First Published: Sept 16, 2025 10:21 PM IST
