The Parnassus Fund invests across the capitalization spectrum with high conviction in approximately 40 holdings. The Fund focuses on identifying companies with:
- Wide moats or strong competitive advantages that protect market share and profitability
- Relevancy over the long term, which provides a compounding growth component
- Quality management teams that will act in the best interest of shareholders
- Stocks trading at a significant discount to their intrinsic value
The Fund's contrarian approach seeks to invest in companies that are currently out of favor with the majority of investors. The Fund strives to outperform the S&P 500 index with a high active share. The Fund avoids companies engaged in the production, manufacturing, or refining of fossil fuels.
The Funds 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.