Q2FY26 turned out to be a busy quarter for marquee investors such as RARE Enterprises, Ashish Kacholia, Sunil Singhania, and Vijay Kedia. With the market rebounding, many rebalanced their portfolios — adding a few new names while scaling down earlier bets.
The chart below shows how the portfolio values of major superstars changed during the quarter. Even with fresh additions, overall values dipped slightly as some major holdings were reduced or exited.
Most superstars see a fall in their net worth in Q2FY26
Previously, we focused on the key buys these investors made. Now, we turn to their sells. The chart below shows their biggest sells during this period.
Biggest sells by superstars in Q2FY26
RARE Enterprises: No major selling
Rakesh Jhunjhunwala’s portfolio, currently managed by Rekha Jhunjhunwala and investment firm RARE Enterprises, did not sell any stock in Q2.
However, the portfolio value slipped 1% to Rs 63,500 crore as of November 20. Muted performance in key holdings like Aptech, Sundrop Brands and Valor Estate pulled down the value.
Ashish Kacholia goes on a selling spree in Q2
Ashish Kacholia’s net worth increased 3.1% to Rs 2,859 crore as of November 20, even though he cut stakes in several companies. New additions and increased stakes in other holdings helped offset these reductions.
Kacholia cuts stakes in five companies to below 1%
During the quarter, Kacholia reduced his holding in auto parts & equipment maker Universal Autofoundry from 2.4% in Q1. This is the fourth straight quarter of selling, taking his stake below 1%. The stock has dropped 61.4% in a year, underperforming its industry by 75.4% points.
The marquee investor sold his stake in Awfis Space Solutions, a special consumer services company, to below 1%. The stock shows a bearish momentum, with a Trendlyne momentum score of 34.1. Its share price has fallen by 18.2% in the past year.
During Q2, Kacholia reduced his stakes to below 1% in all three companies — construction firm Jyoti Structures, pharma company Acutaas Chemicals, and education technology company NIIT Learning Systems. In Q1FY26, he held 1.4%, 1.2%, and 1.1% stakes in these firms, respectively.
Ashish Kacholia pares stakes in multiple companies in Q2
Kacholia cut a 0.9% stake in plastic products maker Dhabriya Polywood, now holding 5.8%. Trendlyne classifies it as a Strong Performer, Getting Expensive. The company appears in a screener of companies with declining net cash flow.
He sold 0.2% each in Xpro, a container & packaging company, and Brand Concepts, a specialty retail player, now holding 3.9% and 1.5%. Both companies have underperformed their industries in the past year.
He also sold a 0.1% stake each in Sanjivani paranteral and Fineotex Chemical. The pharma company has weak momentum, as suggested by Trendlyne’s Momentum score of 28.8. Meanwhile, the specialty chemicals company has an expensive valuation.
Sunil Singhania’s Abakkus Fund cuts stakes in two firms to below 1%
Sunil Singhania’s Abakkus Fund saw a slight drop in net worth, down 0.2% to Rs 2,687 crore. The reduced stakes in three companies during Q2FY26.
Sunil Singhania cuts stakes in two companies to below 1%
Singhania’s fund reduced its holding in Sarda Energy & Minerals to 1.1% during Q2. This iron & steel products maker fell 14.6% during the quarter and underperformed its industry by 20%. It also appears in a screener where mutual funds decreased their holding.
Abakkus Fund cut its stake in Rupa & Co, an apparel brand, to 4%. The stock is a Falling Comet and appears in a screener of companies with declining net cash flows.
During Q2, the fund also reduced 0.1% stake in Ion Exchange. The company is a Slowing Down Stock per Trendlyne’s DVM. It has fallen 44.4% in the past year, underperforming its industry by 41.7% points.
Vijay Kedia pares stake in two firms
Vijay Kedia’s net worth slipped 8.6% to Rs 1,279 crore as of November 20. During the quarter, he reduced his stake in Affordable Robotic & Automation by 2.5%, now holding 7.4%. Trendlyne marks this SME stock as “weak” due to low Durability, Valuation, and Momentum scores.
It has fallen 65.3% in a year, underperforming its industry by 86% points. The company is also near its 52-week low.
Kedia cuts his stake in Affordable Robotic and Om Infra
The ace investor reduced his stake in Om Infra by 0.5%, bringing it down to 2%. This construction & engineering firm appears in a screener for stocks showing degrowth in both revenue and net profit. It has fallen 20.2% over the past year.
He also made a small reduction in Vaibhav Global during the quarter and now holds 2% in the apparels company.
Dolly Khanna cuts stakes in nine companies during Q2
Dolly Khanna reduced her holdings in nine companies during Q2FY26, including six where her stake fell below 1%. Her net worth fell 19.8% to Rs 456 crore as of November 20.
She trimmed her holding in 20 Microns to below 1% in Q2, after holding 2% last quarter. This coal & mining company is trading in the Sell Zone, meaning it is above its historical PE. It has fallen 14.7% in the past year.
Khanna also reduced her stake in Zuari Industries, Rajshree Sugar & Chemicals, and Polyplex Corp to below 1% during the quarter. She previously held 1.7%, 1.3%, and 1.1% stakes in these companies in Q1. All three have underperformed their industry price change over the past year.
She further lowered her holdings in Sarla Performance Fibers and Talbros Automotive Components to below 1% from 1% each. Talbros fell 6.4%, while Sarla Performance is down 1.7% in the past year. Both stocks have underperformed Nifty 50 and Sensex during the same period.
Dolly Khanna cuts stakes in six companies to below 1%
Dolly also trimmed her stake in Prakash Pipes, an SME plastic pipe maker, by 1.5% to 1.7%. The stock has dropped 46.8% in the past year, underperforming its industry by 51%.
During Q2, she reduced her holdings in Som Distilleries & Breweries by 0.4% to 2.4%. Trendlyne categorises the stock as a Falling Comet due to its bearish Momentum score. Dolly also cut her stake in KCP Sugar & Industries Corp by 0.1%, now holding 1.8%. This SME company also has a low Momentum score.
Additionally, Khanna made minor reductions in Emkay Global Financial Services. She now holds a 2.7% stake in the capital markets company.
Porinju reduces stake in three companies during Q2
Porinju Veliyath’s net worth declined 4.6% to Rs 209 crore as of November 20. During the quarter, he cut his stake in Aurum Proptech by 0.9%, bringing his holding down to 5.7%. The company is considered an Expensive Underperformer. It has been reporting losses since FY22 and posted a loss of Rs 2.8 crore in FY25.
The stock has dropped 22.6% in the past year, underperforming the IT consulting industry by 11.5%. Promoters have also reduced their holding by 2.7% QoQ in Q2.
Porinju Veliyath pares stakes in three firms during Q2
Porinju also lowered his stake in Duroply Industries and Kerala Ayurveda by 0.5% each. He now holds 5.5% and 4.5% in these companies, respectively. Both stocks feature in a screener of companies underperforming their industry price change during the quarter.
Duroply fell 30.3% in the past year, while Kerala Ayurveda gained 28.6%. Despite this, both stocks are down more than 30% from their 52-week highs.
