Parnassus Investments
Parnassus Value Equity Fund
US Mega-cap Value
Dec 2024 → Jun 2026
Our archive holds 4 letters from this strategy, behind 6 investment theses and positions in 18 companies. Every quote below is copied verbatim from the letter it came from.
4 letters in 3 years · follow all of Parnassus Investments for every strategy.
Performance
as of Jun 30, 2026 · net of fees · USD · Investor Shares
- YTD+16.0%
- 1Y+31.4%index +27.1%
- 3Y · /yr+18.9%index +17.8%
- 5Y · /yr+9.5%index +11.2%
- 10Y · /yr+15.3%index +11.5%
Index: Russell 1000 Value Index
| YTD | 1Y | 3Yper year | 5Yper year | 10Yper year | |
|---|---|---|---|---|---|
| Parnassus Value Equity Fund | +16.0% | +31.4% | +18.9% | +9.5% | +15.3% |
| Russell 1000 Value Index | — | +27.1% | +17.8% | +11.2% | +11.5% |
Disclaimer
These figures are copied from the manager’s latest letter, as of Jun 30, 2026. They were extracted automatically, have not been verified by HF Best Ideas and may contain errors. They cover a single share class, in the currency and fee basis stated above; other share classes and your own returns will differ. This is not investment advice, nor an offer to buy or sell any fund. Past performance does not predict future returns.
Read full disclosures →What it bought and sold
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.
We exited Bio-Rad Laboratories as the risk/reward profile became less attractive at current valuation.
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.
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.
This created selective opportunities to increase quality defensive exposure, including a new position in Coca-Cola.
Also held
Its investment theses
- Coca-Cola Co.Jun 2026Coca-Cola benefits from global brands, pricing power, emerging-market exposure and durable earnings growth at a reasonable valuation.
- Waste Management, Inc.Dec 2025Waste Management, Inc. benefits from a wide-moat industry structure, pricing power, and growth from RNG, recycling, and Stericycle synergies.
- JP Morgan Chase & Co.Mar 2025JP Morgan is a formidable player in the financial services industry due to its expertise, high client switching costs, unmatched scale, and resilience across its various banking units.
- AstraZenecaDec 2024AstraZeneca is well-positioned for growth due to its strong R&D capabilities, extensive pipeline, and effective leadership, presenting a buying opportunity after a recent sell-off.
- AirbnbDec 2024Airbnb is a leading platform for short-term and long-term rentals with strong profitability, innovative growth strategies, and an opportunity for investment amidst travel market fluctuations.
- Applied MaterialsDec 2024Applied Materials is ideally positioned to outperform competitors due to its scale and innovation in materials engineering, particularly as AI advancements drive recovery in non-AI semiconductor markets.