2024-05-26 04:30:00 ET
Summary
- Parnassus Investments is a fundamental, bottoms-up investment firm offering responsible investment funds to the public. Parnassus Investments integrates comprehensive ESG evaluations with fundamental financial analysis to select investments.
- The Fund (Investor Shares) returned 9.99% for the quarter, slightly underperforming the S&P 500 Index’s 10.56%.
- Portfolio performance was primarily driven by negative stock selection in Communication Services as well as selection in Financials and Industrials.
- During the quarter, the Fund’s underweight to Communication Services decreased as we initiated a new position in Verizon Communications, and our underweight in Health Care increased as we sold Gilead Sciences. We slightly increased our overweight in Information Technology by trimming Oracle and initiating two new positions in Micron and Broadcom.
- We are taking a balanced approach to portfolio positioning, neither overly offensive nor defensive, as the market seems increasingly confident in a soft landing.
Parnassus Core Equity Fund
Fund Facts | Investor Shares | Institutional Shares |
Ticker | ||
Net Expense Ratio1 | 0.82% | 0.61% |
Gross Expense Ratio | 0.85% | 0.62% |
Inception Date | 08/31/1992 | 04/28/2006 |
Benchmark | S&P 500 Index | |
Asset Class | U.S. large cap core | |
Objective | Capital appreciation and current income |
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For further details see:
Parnassus Core Equity Fund Q1 2024 Investment Commentary