The Parnassus Endeavor Fund is a diversified, fundamental, U.S., large-cap, core
equity fund. The Fund invests principally in undervalued equity securities of large-capitalization
companies with outstanding workplaces. Companies with good workplaces usually are
able to recruit and retain better employees, and perform at a higher level than
competitors in terms of innovation, productivity, customer loyalty and profitability.
The Fund avoids investing in companies engaged in the extraction, exploration, production,
manufacturing or refining of fossil fuels; the Fund may invest in companies that
use fossil fuel-based energy to power their operations or for other purposes. The
Fund also takes environmental, social and governance factors into account in making
The Fund’s share price may change daily based on the value of its security holdings.
Stock markets can be volatile, and stock values fluctuate in response to the asset
levels of individual companies and in response to general U.S. and international
market and economic conditions. In addition to large-cap companies, the Fund may
invest in small- and/or mid-cap companies, which can be more volatile than large-cap
firms. Security holdings in the fund can vary significantly from broad market indexes.