Vijoy Kedia’s Portfolio Sees Significant Shifts Amid Market Volatility

Tracking the investment moves of seasoned market veterans is a common practice for many investors seeking insight and direction. The portfolio of veteran investor Vijay Kedia, known for his long-term, high-conviction bets, has recently undergone notable changes. An analysis of his publicly disclosed holdings reveals a period of significant pressure for several of his key investments, alongside standout performers and new additions.

Portfolio Value Declines Amid Broad Market Pressure

According to the latest available shareholding data for the quarter ending December 2025, Vijay Kedia holds stakes in approximately 17 companies. The combined market value of these holdings was around Rs 1,118 crore as of February 6, 2026. This represents a substantial decline of nearly 19% from a value of Rs 1,378 crore recorded in March 2025. This drop in overall portfolio value highlights the challenging market conditions faced by many investors over this period.

The decline is attributed to significant underperformance in a number of Kedia’s core holdings. A review shows that seven stocks in his portfolio have seen sharp corrections, with some sliding as much as 50% from their previous highs. Such steep declines in a concentrated portfolio naturally weigh heavily on its total valuation. This serves as a reminder that even the most respected investors are not immune to market cycles and sector-specific downturns.

Two Big Winners Provide a Silver Lining

Despite the broad-based weakness, two major holdings in Kedia’s portfolio have emerged as strong winners. These stocks have significantly outperformed the market, providing crucial support to the overall portfolio value. Their success underscores Kedia’s investment philosophy of identifying companies with strong long-term growth potential and durable competitive advantages.

While the specific names of these outperformers were not detailed in the source analysis, their presence is a key takeaway. It demonstrates that a portfolio can contain both cyclical losers and structural winners simultaneously. For followers of Kedia’s strategy, these winning picks often represent his highest-conviction ideas where he has taken sizable positions and held them through volatility.

Fresh Picks Signal New Convictions

In addition to the performance review of existing holdings, the analysis notes that Kedia’s portfolio for the December 2025 quarter includes two fresh stock picks. The addition of new companies indicates that the investor is actively deploying capital into new ideas that meet his criteria, even amid a downturn in his broader portfolio.

New entries are always closely watched by market participants, as they may point to sectors or themes the veteran investor finds attractive at current valuations. These fresh picks could represent attempts to pivot or add diversification to the portfolio based on evolving market narratives and emerging opportunities. Their future performance will be tracked to see if they can become the next generation of winners in his investment history.

Key Takeaways for General Investors

The fluctuations in Vijay Kedia’s portfolio offer several lessons for the general investing public. First, even expert portfolios experience periods of drawdown, and performance should be evaluated over a long-term horizon. Second, a concentrated portfolio of high-conviction stocks can lead to higher volatility, with a few winners potentially offsetting several losers.

Finally, the activity of adding new stocks during a period of overall decline shows a disciplined approach to investing. It suggests a focus on future potential rather than being anchored to past picks. For investors, the key insight is not to blindly copy a portfolio but to understand the underlying rationale of patience, conviction, and continuous search for quality that veterans like Kedia exemplify.