Parnassus Investments
Parnassus Value Select ETF
US Value
Dec 2025 → Jun 2026
Our archive holds 2 letters from this strategy, behind 2 investment theses and positions in 17 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
In Health Care, we rebalanced within the sector, exiting Bio- Rad Laboratories and adding to Abbott Laboratories, a medical device leader that we believe offers greater upside, supported by product innovation and demographic-driven demand.
We redeployed some of those proceeds more broadly across the AI ecosystem, adding to hyperscaler cloud platforms such as Amazon and Microsoft, 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 and Microsoft, where we believe the market underappreciates a growing backlog of AI infrastructure demand.
This created selective opportunities to increase quality defensive exposure, including new positions in Coca-Cola and CMS Energy.
This created selective opportunities to increase quality defensive exposure, including new positions in Coca-Cola and CMS Energy.
In Health Care, we rebalanced within the sector, exiting Bio- Rad Laboratories and adding to Abbott Laboratories, a medical device leader that we believe offers greater upside, supported by product innovation and demographic-driven demand.
We closed our Willis Towers Watson position and brought Financials from an overweight to an underweight to reduce the portfolio’s macroeconomic sensitivity.
Also held
Its investment theses
- CMS Energy Corp.Jun 2026CMS Energy is a stable, well-managed utility supported by a constructive regulatory environment and expected earnings growth acceleration.
- Abbott LaboratoriesDec 2025Abbott Laboratories offers durable growth from leadership in diabetes, heart health, and electrophysiology, supported by innovation and a diversified global model.