Parnassus Investments
Parnassus International Equity Fund
US
Dec 2025 → Dec 2025
Our archive holds 1 letter from this strategy and positions in 18 companies. Every quote below is copied verbatim from the letter it came from.
1 letter in a year · follow all of Parnassus Investments for every strategy.
What it bought and sold
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.
We sold the position during the fourth quarter.
With limited visibility on when the market might recover, we exited the position in favor of higher-conviction ideas.
In Consumer Discretionary, we bought LVMH, the largest luxury goods company in the world, and sold BYD due to concerns of industry oversupply, pricing pressure and waning growth.
In Information Technology, we swapped Constellation Software for Topicus.