Parnassus Investments
Parnassus Mid Cap Growth Fund
US Mid-cap Growth
Dec 2024 → Mar 2025
Our archive holds 2 letters from this strategy, behind 2 investment theses and positions in 24 companies. Every quote below is copied verbatim from the letter it came from.
2 letters in 2 years · follow all of Parnassus Investments for every strategy.
What it bought and sold
Bought (Spun-off) SanDisk Corp. SNDK Information Technology SanDisk is a global leader in data storage solutions using flash memory technology.
Sold Ross Stores, Inc. ROST Consumer Discretionary We exited Ross Stores in favor of other stocks that we believe have greater upside potential.
Bought Ares Management Corp. ARES Financials Ares is an alternative asset manager with a well-respected private credit franchise.
Bought Robinhood Markets, Inc. HOOD Financials Robinhood is a fast-growing trading platform that allows ordinary investors to access trading at any time during the week.
Bought AppLovin Corp. APP Information Technology AppLovin provides an ad platform for mobile games.
Bought Builders FirstSource, Inc. BLDR Industrials As the largest building products distributor in the U.S., Builders FirstSource benefits from economies of scale in a fragmented market.
Sold Cintas Corp. CTAS Industrials We exited Cintas in favor of other stocks that we believe have greater upside potential.
Sold Verisk Analytics, Inc. VRSK Industrials We exited Verisk in favor of other stocks that we believe have greater upside potential.
Bought ICON PLC ICLR Health Care ICON is the second largest player in the clinical research organization (CRO) market due to competitive advantages created by its scale and long-standing customer relationships.
Bought Chipotle Mexican Grill, Inc. CMG Consumer Discretionary Chipotle is a leader in the fast casual dining category, bolstered by its strong brand affinity and value proposition.
Sold Fortinet, Inc. FTNT Information Technology We exited Fortinet in favor of other stocks that we believe have greater upside potential.
Bought BILL Holdings, Inc. BILL Information Technology We re-initiated a position in BILL Holdings, which operates an innovative SMB-focused payments automation platform (Bill.com).
Bought Natera, Inc. NTRA Health Care Natera is an innovative market leader in the growing and under- penetrated liquid biopsy market, with the potential for meaningful profitability at scale.
Also held
Its investment theses
- ICON plcMar 2025ICON is a leading CRO poised for growth as R&D spending rebounds and it gains market share following a recent stock sell-off.
- Rockwell AutomationDec 2024Rockwell is a resilient industrial automation company facing short-term challenges but poised for growth as manufacturing projects complete and reshoring trends potentially accelerate.