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Parnassus Investments

Dec 2024 → Jun 2026 · Publishes quarterly · 9 funds

Our archive holds 19 letters from Parnassus Investments, behind 24 investment theses and positions in 109 companies. Every quote below is copied verbatim from the letter it came from.

Writes about

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19
Letters
109
Companies
53
Moves
24
Theses

9 strategies

Parnassus Investments publishes a letter per strategy. Each one has its own page with what it holds, what it bought and what it wrote.

Returns as reported in each strategy’s latest letter, extracted automatically and not verified by us; one share class, in its own currency. Not investment advice. Past performance does not predict future returns.

What they bought and sold · 53 moves

  • AddedAbbott Laboratories
    June 2026
    “In Health Care, we rebalanced within the sector, exiting Bio- Rad Laboratories and adding to Abbott Laboratories, a medical device leader that we believe offers greater upside, supported by product innovation and demographic-driven demand.”
    Read the letter
  • AddedMicrosoft
    June 2026
    “We redeployed some of those proceeds more broadly across the AI ecosystem, adding to hyperscaler cloud platforms such as Amazon and Microsoft, where we believe the market underappreciates a growing backlog of AI infrastructure demand.”
    Read the letter
  • ExitedVerisk Analytics Inc.
    June 2026
    “We also sold Verisk Analytics and Salesforce, reallocating assets toward opportunities that we believe have stronger long- term potential.”
    Read the letter
  • AddedAmazon.com
    June 2026
    “We redeployed some of those proceeds more broadly across the AI ecosystem, adding to hyperscaler cloud platforms such as Amazon and Microsoft, where we believe the market underappreciates a growing backlog of AI infrastructure demand.”
    Read the letter
  • New positionSandisk
    June 2026
    “Other positions added during the quarter included Sandisk, a leader in flash memory solutions; Comfort Systems, a mechanical, electrical and plumbing contractor, which provides key labor for AI infrastructure build-out; and Lumentum, which makes optical products used in AI data center networking.”
    Read the letter
  • New positionRevolution Medicines
    June 2026
    “During the quarter, we added Twist Bioscience, a biotechnology company with a proprietary silicon-based DNA synthesis platform, and Revolution Medicines, developer of a promising new drug for pancreatic cancer.”
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  • New positionW.W. Grainger Inc.
    June 2026
    “Bought W.W. Grainger Inc. GWW Industrials Grainger’s economies of scale, network effects, large SKU breadth and e- commerce platform enable same-day service and strong customer loyalty.”
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  • AddedOracle
    June 2026
    “We redeployed some of those proceeds more broadly across the AI ecosystem, adding to hyperscaler cloud platforms such as Amazon, Microsoft and Oracle, where we believe the market underappreciates a growing backlog of AI infrastructure demand.”
    Read the letter
  • ExitedBio-Rad Laboratories
    June 2026
    “We exited Bio-Rad Laboratories as the risk/reward profile became less attractive at current valuation.”
    Read the letter
  • ExitedSalesforce Inc.
    June 2026
    “We also sold Verisk Analytics and Salesforce, reallocating assets toward opportunities that we believe have stronger long- term potential.”
    Read the letter
  • New positionCMS Energy
    June 2026
    “This created selective opportunities to increase quality defensive exposure, including new positions in Coca-Cola and CMS Energy.”
    Read the letter
  • ExitedPTC
    June 2026
    “We sold PTC and reallocated the assets into higher-conviction ideas.”
    Read the letter
  • ExitedBoston Scientific Corp.
    June 2026
    “We exited Boston Scientific as the competitive environment evolved more quickly than anticipated.”
    Read the letter
  • New positionDoorDash Inc.
    June 2026
    “DoorDash, the food delivery platform, is a new position initiated during the quarter.”
    Read the letter
  • ExitedInsmed
    June 2026
    “We exited the position during the quarter.”
    Read the letter
  • New positionCoca-Cola
    June 2026
    “This created selective opportunities to increase quality defensive exposure, including new positions in Coca-Cola and CMS Energy.”
    Read the letter
  • New positionHubbell Inc.
    June 2026
    “We also purchased GE Vernova and Hubbell, which offer exposure to electrical infrastructure tied to growing AI-driven power demand.”
    Read the letter
  • New positionLumentum Holdings
    June 2026
    “Other positions added during the quarter included Sandisk, a leader in flash memory solutions; Comfort Systems, a mechanical, electrical and plumbing contractor, which provides key labor for AI infrastructure build-out; and Lumentum, which makes optical products used in AI data center networking.”
    Read the letter
  • ExitedThe Sherwin-Williams
    June 2026
    “We exited Sherwin-Williams given its growth is tied to a housing recovery, which remains uncertain, and it has a premium valuation relative to its growth.”
    Read the letter
  • New positionVulcan Materials Co.
    June 2026
    “Bought Vulcan Materials Co. VMC Materials Vulcan benefits from irreplaceable quarry locations, high barriers to entry and favorable positions in fast-growing regions, which together create local market advantages and resilient unit economics.”
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  • ExitedBrown & Brown
    June 2026
    “Sold Brown & Brown Inc.”
    Read the letter
  • AddedTwist Bioscience
    June 2026
    “Twist Bioscience, a new portfolio holding added during the quarter, manufactures synthetic DNA and proteins.”
    Read the letter
  • New positionComfort Systems USA
    June 2026
    “Other positions added during the quarter included Sandisk, a leader in flash memory solutions; Comfort Systems, a mechanical, electrical and plumbing contractor, which provides key labor for AI infrastructure build-out; and Lumentum, which makes optical products used in AI data center networking.”
    Read the letter
  • New positionGE Vernova Inc.
    June 2026
    “GE Vernova, another new position, had previously sold off significantly and reached a valuation that we found compelling.”
    Read the letter
  • ExitedWillis Towers Watson
    June 2026
    “We closed our Willis Towers Watson position and brought Financials from an overweight to an underweight to reduce the portfolio’s macroeconomic sensitivity.”
    Read the letter
  • New positionNational Grid
    December 2025
    “Our biggest sector change was in Utilities, where we purchased Iberdrola and National Grid, taking the portfolio’s exposure to that sector from zero weight to overweight.”
    Read the letter
  • ExitedCoStar Group
    December 2025
    “We also sold CoStar Group, as the company's valuation will remain high until it's able to monetize its significant investments in Homes.com.”
    Read the letter
  • ExitedConstellation Software
    December 2025
    “We sold the position during the fourth quarter.”
    Read the letter
  • ExitedBYD
    December 2025
    “With limited visibility on when the market might recover, we exited the position in favor of higher-conviction ideas.”
    Read the letter
  • ExitedFiserv
    December 2025
    “We sold the position during the quarter.”
    Read the letter

Showing the 30 most recent of 53 recorded moves.

Companies held · 109

Every company Parnassus Investments has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 24

Letter archive · 19

2026

2025

2024

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