Parnassus Value Equity Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, Parnassus Value Equity Fund held 47 positions with $5.32B in net assets. Its ten largest holdings made up 34.2% of the fund. The PARWX share class costs 0.88% a year. Over the 12 months to May 2026, PARWX returned 33.4%, with dividends reinvested. In 2026 Q2 it added 2 new positions and exited 1.
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.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
AMZNAMAZON.COM INC | 5.12% | $272.46M | 1.1M | $238.34 |
GOOGLALPHABET INC-CL A | 4.42% | $235.46M | 658.9K | $357.37 |
MSFTMICROSOFT CORP | 3.61% | $192.34M | 515.6K | $373.02 |
3.50% | $186.49M | 1.3M | $144.61 | |
3.44% | $183.21M | 559.7K | $327.33 | |
TSMTAIWAN SEMICONDUCTOR-SP ADR | 3.15% | $167.93M | 351.6K | $477.57 |
2.85% | $151.88M | 131.6K | $1,154.29 | |
2.80% | $149.03M | 1.8M | $81.27 | |
CMICUMMINS INC | 2.77% | $147.76M | 207.2K | $713.21 |
2.56% | $136.10M | 3.2M | $42.34 |
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.
All 47 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 98.75% |
| Cash & short-term | 0.57% |
By sector
- Financials
- 24.9%
- Information Technology
- 16.4%
- Industrials
- 11.8%
- Health Care
- 10.4%
- 8 other sectors
- 36.4%
- Financials
- 24.9%
- Information Technology
- 16.4%
- Industrials
- 11.8%
- Health Care
- 10.4%
- International
- 8.5%
- Consumer Discretionary
- 7.3%
- Communication Services
- 7.0%
- Consumer Staples
- 6.9%
- Real Estate
- 2.5%
- Materials
- 1.9%
- Utilities
- 1.7%
- Cash
- 0.6%
How it has done
PARWX share class · total returns with dividends reinvested
Volatility over the last 12 months: 12.99%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 2 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.88% | +33.35% | +35.50% | +35.39% | -10.09% | |
| 0.65% | +33.64% | +36.17% | +36.07% | -9.99% |
These classes hold the same portfolio, so the 0.68pp spread over 5 years is the cost difference between them — roughly 0.14pp a year — not a difference in what they own.
Fees & fund details
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
- Expense ratio, by class
- 0.65% – 0.88%· PARWX 0.88%
- Portfolio turnover
- 34.30% a year · as of 2026 Q2
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
2 new
1 exited
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
Understand how this fund fits with the rest.
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