Parnassus Investments Q2 2026 Portfolio Shifts: Major Technology Buys and Sells
Parnassus Endeavor Fund's portfolio saw significant changes in Q2 2026, marked by substantial purchases of KLA Corp (KLAC) and DoorDash (DASH), alongside notable divestments from Boston Scientific (BSX).
As part of its investment strategy for the second quarter ending June 30, 2026, Parnassus Investments made several noteworthy adjustments to its portfolio. The fund's holdings reflect a dynamic approach focused on capitalizing on specific market movements and sector trends.
Prominent Technology Sector Activity
The Technology sector dominated observable changes during this period for the Parnassus Endeavor Fund. This allocation stands at 32.01% of the total portfolio value, highlighting its strategic importance.
Within Technology, a standout purchase was KLA Corp (KLAC), which experienced an unprecedented share increase of over 700%. The fund acquired more than three million additional shares during Q2, significantly boosting its position in this semiconductor equipment company. This substantial stake change is detailed in the investor's filing.
Conversely, several Technology stocks saw reductions in their portfolio allocations. NVIDIA Corporation (NVDA)'s allocation decreased by 10.43%, while Micrsoft Corporation (MSFT) and Alphabet Inc. (GOOGL) both witnessed declines of approximately 15% in their respective share counts during the quarter.
The fund also initiated a position in DoorDash Inc. (DASH), adding nearly four million shares, which increased its Technology allocation percentage to 1.92%. Similarly, it purchased shares of Rentokil Initial PLC (RTO) and made a significant investment in the consumer-focused Hubbell Inc. (HUBB), though these additions are less prominent within Technology.
Diversification Across Other Sectors
Parnassus Endeavor Fund's activity wasn't confined to Technology alone, as evidenced by changes in other sectors like Industrials and Consumer Cyclical. In the Industrials sector, which holds 14.32% of the portfolio, the fund notably increased its stake in Waste Management Inc. (WM), acquiring over four million shares during Q2.
This contrasts with divestments elsewhere. The Healthcare sector saw a drastic reduction from one of its holdings: Boston Scientific Corporation (BSX) experienced an 85% decrease in shares held by the fund, representing a significant exit.
In the Real Estate sector, which accounts for about 2.41% of the portfolio, Parnassus sold shares of Realty Income Corp (O), resulting in a slight reduction to its allocation percentage.
Overall Portfolio Changes and Trends
The fund's overall holdings increased by approximately 38 million shares during Q2. This growth was driven primarily by substantial purchases, including the massive KLAC stake increase, additions of DoorDash (DASH), Waste Management (WM), and others.
Simultaneously, there were significant reductions in share count for several companies like Boston Scientific (BSX) and NVIDIA (NVDA). The portfolio's total value stood at $37.2 billion as of June 30, 2026.
The investor also demonstrated a willingness to deploy capital into newer or niche areas, such as the recent purchase of DoorDash shares, while strategically exiting positions like Boston Scientific that may no longer align with its investment thesis for this period. The fund's holdings now number 130 distinct stocks.