[[AgustinOrtu]]

En mi caso no experimento parpadeo con el siguiente codigo:

Código Delphi [-]
unit Unit1;

interface

uses
  System.Classes, Vcl.Forms, Vcl.Controls, Vcl.ExtCtrls, Vcl.StdCtrls,
  Vcl.ComCtrls;

type
  TForm1 = class(TForm)
    ListView1: TListView;
    btnPopulate: TButton;
    btnPopulateBeginUpdate: TButton;
    Panel1: TPanel;
    procedure FormCreate(Sender: TObject);
    procedure btnPopulateClick(Sender: TObject);
    procedure btnPopulateBeginUpdateClick(Sender: TObject);
  private
    procedure PopulateListView;
  end;

var
  Form1: TForm1;

implementation

{$R *.dfm}

uses
  System.SysUtils,
  System.Diagnostics,
  Vcl.Themes, Vcl.Styles;

procedure TForm1.FormCreate(Sender: TObject);
begin
  TStyleManager.TrySetStyle('Vapor');
  ListView1.ViewStyle := TViewStyle.vsReport;
  ListView1.Columns.Add.Caption := 'Columna 1';
  ListView1.Columns.Add.Caption := 'Columna 2';
  ListView1.Columns.Add.Caption := 'Columna 3';
end;

procedure TForm1.PopulateListView;
var
  I: Integer;
  Value: string;
  ListItem: TListItem;
  sw: TStopwatch;
begin
  sw := TStopwatch.StartNew;

  ListView1.Clear;
  for I := 0 to 10000 do
  begin
    ListItem := ListView1.Items.Add;
    Value := IntToStr(I);
    ListItem.Caption := 'Item # ' + Value;
    ListItem.SubItems.Add('SubItem # ' + Value);
    ListItem.SubItems.Add('SubItem # ' + Value);
    ListItem.SubItems.Add('SubItem # ' + Value);
  end;

  sw.Stop;
  Caption := Format('Demoro: %d ms', [sw.ElapsedMilliseconds]);
end;

procedure TForm1.btnPopulateBeginUpdateClick(Sender: TObject);
begin
  ListView1.Items.BeginUpdate;
  try
    PopulateListView;
  finally
    ListView1.Items.EndUpdate;
  end;
end;

procedure TForm1.btnPopulateClick(Sender: TObject);
begin
  PopulateListView;
end;

end.

Que Style estas usando? Cuantos items estas agregando?