Parnassus Investments Q1 2026 Portfolio Shifts: Focus on Tech, Healthcare with Select Reductions

According to the latest filing dated March 31, 2026, Parnassus Investments, through its Parnassus Endeavor Fund, managed a substantial portfolio valued at approximately $34 billion. The analysis of top holdings reveals a dynamic quarter, characterized by both strategic additions and reductions across various sectors.

Technology remains a significant focus, with holdings in NVIDIA (NVDA), Microsoft (MSFT), and Apple (AAPL) collectively representing nearly 13% of the portfolio. Notably, Parnassus increased its stake in Apple during this period, acquiring an additional 1,143,905 shares, pushing its portfolio allocation to 3.47%. Conversely, the fund significantly reduced its positions in several large-cap tech and consumer companies. The holdings in Alphabet (GOOGL) and Amazon (AMZN) saw substantial decreases, with share reductions of 2.94 million and 2.60 million shares respectively, leading to portfolio percentage drops of 0.43 and 0.49 percentage points. Similarly, holdings in Applied Materials (AMAT) and Microsoft (MSFT) also decreased, though the latter's reduction was relatively smaller in percentage terms (-10.62%).

Outside Technology, Parnassus also trimmed its exposure in Industrials and Consumer Cyclical sectors. The waste management company Waste Management (WM) and industrial equipment maker Deere & Co (DE) both experienced significant share declines of 1.12% and 38.95% respectively, impacting their portfolio allocations. In contrast, the fund bolstered its position in Healthcare, specifically Eli Lilly & Co (LLY), increasing its stake by 48.89% through the purchase of 307,182 additional shares.

Within the Technology sector, NVIDIA (NVDA) and Microsoft (MSFT) also saw reductions, although their portfolio percentages were lower than the largest Technology holdings. The fund simultaneously maintained its position in Realty Income (O), a Real Estate investment trust, which held a 2.53% allocation, showing no change in shares but a slight decrease in value due to market conditions.

For a comprehensive view of Parnassus Investments' activities, including detailed ownership information for the Parnassus Endeavor Fund, please visit their profile on Insiderset: Parnassus Investments Investor Profile. Detailed information on the specific stock holdings can be found at: Alphabet Inc. (GOOGL), NVIDIA Corporation (NVDA), Microsoft Corporation (MSFT), Amazon.com Inc. (AMZN), Apple Inc. (AAPL), Waste Management Inc. (WM), Deere & Company (DE), Applied Materials, Inc. (AMAT), Realty Income Corporation (O), and Eli Lilly and Company (LLY).