Parnassus Investments Portfolio Concentration Analysis: Top Holdings as of March 31, 2026

Parnassus Investments' portfolio, as of March 31, 2026, shows significant concentration in large-cap technology and consumer companies, reflecting a substantial allocation to established and growth-oriented stocks within these sectors.

The fund's largest holding is Alphabet Inc (GOOGL), commonly known as Google. As of the reporting date, Parnassus holds over 6.4 million shares of this Communication Services stock, representing approximately 5.43% of the total portfolio. The position saw a reduction in shares compared to the previous period, with a -29.49% change in shares and a corresponding -29.49% change in value.

NVIDIA Corporation (NVDA), a leading player in the Technology sector, is the second-largest holding, comprising about 4.82% of the portfolio. Parnassus holds nearly 9.4 million shares of this semiconductor giant. Similar to Alphabet, the position experienced a decline, with a -23.8% reduction in shares and value during the prior period.

Microsoft Corporation (MSFT) follows as the third-largest holding, accounting for roughly 4.54% of the portfolio. With over 4.19 million shares held, the Technology stock saw a moderate decrease in its position, marked by a -10.62% change in shares and value.

Amazon.com Inc (AMZN), the Consumer Cyclical stock, holds the fourth position in terms of portfolio allocation, representing approximately 4.49%. Parnassus holds over 7.36 million shares of this e-commerce and cloud computing leader. The position experienced a significant reduction, with a -26.13% change in shares and value from the prior period.

The fifth-largest holding is Apple Inc (AAPL), the Technology stock, which accounts for about 3.47% of the portfolio. Notably, Parnassus increased its position in Apple, adding over 1.14 million shares, resulting in a positive 32.4% change in shares and value during the prior period.

Waste Management Inc (WM), an Industrials stock, is the sixth-largest holding, representing approximately 3.35% of the portfolio. Parnassus holds nearly 5 million shares of this waste management company. The position saw a decline, with a -11.25% change in shares and value.

Deere & Co (DE), another Industrials stock, holds the seventh position, accounting for about 3.12% of the portfolio. Parnassus holds over 1.89 million shares of this agricultural equipment manufacturer. The position experienced a substantial reduction, with a -38.95% change in shares and value.

Applied Materials Inc (AMAT), a Technology stock, is the eighth-largest holding, representing approximately 2.99% of the portfolio. Parnassus holds nearly 3 million shares of this materials technology company. The position saw a decline, with a -20.71% change in shares and value.

Realty Income Corporation (O), a Real Estate stock, is the ninth-largest holding, accounting for about 2.53% of the portfolio. Parnassus holds over 14.14 million shares of this real estate investment trust. The position saw a decline, with a -21.72% change in shares and value.

Eli Lilly & Co (LLY), a Healthcare stock, is the tenth-largest holding, representing approximately 2.52% of the portfolio. Parnassus holds nearly 0.935 million shares of this pharmaceutical company. Notably, the position saw an increase, with a positive 48.89% change in shares and value during the prior period.