Parnassus Value Equity Fund
Parnassus Funds · 2 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Parnassus Value Equity Fund is an actively managed U.S. equity fund. 8% of PARWX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 91% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2026 Q2
The Parnassus Value Equity Fund has the overall investment objective of capital appreciation.
The fund invests primarily in large-capitalization U.S. equity securities that the adviser identifies as undervalued relative to their own valuation history and to peer companies, while also possessing sustainable business practices and strong long-term capital appreciation prospects. The adviser evaluates each company's financial statements, competitive advantages, and management quality to support its selection. The fund normally invests more than half its assets in large-cap stocks but may also hold small- and mid-cap equities and foreign securities. Because security selection depends on the adviser's assessment of valuation, fundamentals, and sustainability factors, fund holdings will differ from any benchmark.
| Share class | Gross | Net |
|---|---|---|
| PARWX | 0.97% | 0.88% |
| PFPWX | 0.72% | 0.65% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 34.30% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 98.75% |
| Cash & short-term | 0.57% |
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Financials | 24.9% |
| Information Technology | 16.4% |
| Industrials | 11.8% |
| Health Care | 10.4% |
| 8 smaller | 36.4% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Portfolio growth profile
How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2
Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.
Latest quarter
What changed since the fund's previous filing
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +36.29% | +31.94% | +31.90% | 13.21% | -10.09% | |
| +36.59% | +32.58% | +32.55% | 13.22% | -9.99% |
These classes hold the same portfolio, so the 0.65pp spread over 5 years is the cost difference between them — roughly 0.13pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| AMZN | AMAZON.COM INCAMZN | 5.12% | $238.34 | $272.46M | 1.1M |
| GOOGL | ALPHABET INC-CL AGOOGL | 4.42% | $357.37 | $235.46M | 658.9K |
| MSFT | MICROSOFT CORPMSFT | 3.61% | $373.02 | $192.34M | 515.6K |
| BNY | BANK OF NEW YORK MELLON CORPBNY | 3.50% | $144.61 | $186.49M | 1.3M |
| JPM | JPMORGAN CHASE & COJPM | 3.44% | $327.33 | $183.21M | 559.7K |
| TSM | TAIWAN SEMICONDUCTOR-SP ADRTSM | 3.15% | $477.57 | $167.93M | 351.6K |
| MU | MICRON TECHNOLOGY INCMU | 2.85% | $1,154.29 | $151.88M | 131.6K |
| KO | The COCA-COLA COKO | 2.80% | $81.27 | $149.03M | 1.8M |
| CMI | CUMMINS INCCMI | 2.77% | $713.21 | $147.76M | 207.2K |
| VZ | VERIZON COMMUNICATIONS INCVZ | 2.56% | $42.34 | $136.10M | 3.2M |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 34.23% of net assets, top 25 68.32%, across 47 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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