Parnassus Investments
Parnassus Core Equity Fund
US
Dec 2024 → Jun 2026
Our archive holds 3 letters from this strategy, behind 5 investment theses and positions in 20 companies. Every quote below is copied verbatim from the letter it came from.
3 letters in 3 years — follow all of Parnassus Investments for every strategy.
What it bought and sold
We also sold Verisk Analytics and Salesforce, reallocating assets toward opportunities that we believe have stronger long- term potential.
We also sold Verisk Analytics and Salesforce, reallocating assets toward opportunities that we believe have stronger long- term potential.
DoorDash, the food delivery platform, is a new position initiated during the quarter.
We also purchased GE Vernova and Hubbell, which offer exposure to electrical infrastructure tied to growing AI-driven power demand.
We exited the stock during the quarter.
GE Vernova, another new position, had previously sold off significantly and reached a valuation that we found compelling.
Also held
Its investment theses
- DoorDash Inc.Jun 2026DoorDash is the U.S. food delivery leader expanding into adjacent markets, with network scale and monetization avenues supporting long-term growth.
- Hubbell Inc.Jun 2026Hubbell is a leading utility equipment provider with a strong market position and exposure to grid investment and AI-driven power demand.
- GE Vernova Inc.Jun 2026GE Vernova is a leading gas turbine and grid equipment provider with durable positioning and attractive growth from AI-related power infrastructure.
- Ferguson plcDec 2024Ferguson is well-positioned for long-term growth due to its efficient operations, extensive distribution networks, and the advantages of scale in a consolidating industry.
- KLADec 2024KLA is well-positioned for long-term growth due to high switching costs, strong demand for advanced semiconductors, and effective management, despite recent stock price concerns related to weaker demand in China.