Parnassus Investments
Parnassus Growth Equity Fund
US Growth
Dec 2024 → Jun 2026
Our archive holds 3 letters from this strategy, behind 4 investment theses and positions in 21 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
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.
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.
We sold PTC and reallocated the assets into higher-conviction ideas.
We exited the position during the quarter.
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.
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.
Sold Brown & Brown Inc.
Twist Bioscience, a new portfolio holding added during the quarter, manufactures synthetic DNA and proteins.
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.
We exited the stock during the quarter.
We sold Salesforce as conviction in horizontal application software declined amid increased competition and weaker pricing dynamics.
Also held
Its investment theses
- SynopsysMar 2025Synopsys is poised to strengthen its competitive edge in the electronic design automation market through its acquisition of Ansys and robust intellectual property, amidst the growing complexity of semiconductor design and the rise of AI accelerators.
- AtlassianDec 2024Atlassian is well-positioned to thrive from an AI product cycle, leveraging its widely recognized software suite to enhance collaboration in organizational software development.
- DatadogDec 2024Datadog is poised for significant growth due to its market leadership, strong product suite, innovative capabilities, and exceptional management, despite current misinterpretations of cyclical IT spending challenges.
- Vertex PharmaceuticalsDec 2024Vertex is poised for growth following a strategic acquisition and advancements in its diabetes pipeline, enhancing our confidence in its innovative approach and management.