PRILXParnassus Core Equity Fund

Institutional Shares
  • Fund assets
    $24,010M
  • Fund strategyU.S. Large-Cap Core
  • NAV as of 06/08/2026$58.96
  • NAV change from prior day$+0.14
  • YTD return as of 06/08/2026+5.08%
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3 Reasons to Own the Parnassus Core Equity Fund 3 Reasons to Own the Parnassus Core Equity Fund

HIGHLIGHT

3 Reasons to Own the Parnassus Core Equity Fund

When uncertainty drives market volatility, balancing risk with reward can be a challenge. That’s why  portfolio resilience matters. 

Overview

The Parnassus Core Equity Fund offers a high-conviction portfolio of approximately 40 U.S. large-cap stocks selected for their potential to compound value at attractive valuations.

Key Differentiators

  • Emphasis on Quality: Invests selectively in companies with increasingly relevant products and services, durable competitive advantages, strong management teams and sustainable business practices that are likely to thrive in a healthy economy and be resilient in an economic recession.
  • Proven Track Record: Managed by a team of experienced investors with a history of substantial participation in market rallies and strong performance during market declines.
  • Asymmetric Return Potential: Aims to participate more in up markets than down markets, which may appeal to investors seeking defense during market downturns.

Risks

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.

Fund Basics

Fund Objective
Capital appreciation and current income
Fund Strategy
Large-Cap Core
Ticker
PRILX
Fund Assets
$24,010M
CUSIP
701769408
Distribution Frequency
Quarterly
Inception Date
04/28/2006
Minimum Initial Investment
$100,000
Minimum Subsequent Investment
$50
Net Expense Ratio
0.61 %
Gross Expense Ratio
0.61 %
NAV as of 06/08/2026
$58.96
NAV Change from prior day
$+0.14

Portfolio Managers

Todd Ahlsten
Chief Investment Officer, Portfolio Manager
See Profile
Benjamin Allen
Chief Executive Officer, Portfolio Manager
See Profile
Andrew Choi
Director of Research, Portfolio Manager
See Profile

Performance

Month EndQuarter End
As of 03/31/2026
Annualized Returns (%)
As of 03/31/20263 Month1 Year3 Year5 Year10 YearSince 04/28/2006
Parnassus Core Equity Fund Institutional Shares3 Month-6.131 Year7.603 Year13.225 Year8.7210 Year12.55Since 04/28/200611.14
S&P 500 Index3 Month-4.331 Year17.803 Year18.325 Year12.0610 Year14.16Since 04/28/200610.49

Performance data quoted represent past performance and are no guarantee of future returns. All performance assumes reinvestment of dividends and capital gains. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. For the most recent month-end performance, please select the monthly tab at the top of the page.

Calendar year returns

Created with Highcharts 11.0.0Total Return (%)10.61%​10.61%16.81%​16.81%0.05%​0.05%30.96%​30.96%21.47%​21.47%27.81%​27.81%-18.45%​-18.45%25.21%​25.21%18.75%​18.75%11.88%​11.88%11.94%​11.94%21.83%​21.83%-4.38%​-4.38%31.49%​31.49%18.40%​18.40%28.71%​28.71%-18.11%​-18.11%26.29%​26.29%25.02%​25.02%17.88%​17.88%Parnassus Core Equity Fund Institutional SharesS&P 500 Index2016201720182019202020212022202320242025-30%-20%-10%0%10%20%30%40%

Growth of $10,000as of 05/31/2026

Created with Highcharts 11.0.01995200020052010201520202025$0$100,000$200,000$300,000$400,000$500,000
Performance data quoted represent past performance and are no guarantee of future returns. All performance assumes reinvestment of dividends and capital gains. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. For the most recent month-end performance, please select the monthly tab at the top of the page. The Parnassus Core Equity Fund - Institutional Shares were incepted on April 28, 2006. Performance shown prior to the inception of the Institutional Shares reflects the performance of the Parnassus Core Equity Fund - Investor Shares and includes expenses that are not applicable to and are higher than those of the Institutional Shares. Prior to March 31, 1998, the Parnassus Core Equity Fund was a balanced fund. Returns shown for the Fund do not reflect the declaration of taxes a shareholder would pay on the fund distributions or redemption of fund shares.

Last 5 fund distributions

Distribution TypeRecord DateEx/Payable DateDividend RateNav Price Per Share
Distribution TypeIncome DividendRecord Date03/30/2026Ex/Payable Date03/31/2026Dividend Rate$0.0290Nav Price Per Share$52.67
Distribution TypeShort-Term Capital GainRecord Date12/18/2025Ex/Payable Date12/19/2025Dividend Rate$0.4399Nav Price Per Share$55.84
Distribution TypeLong-Term Capital GainRecord Date12/04/2025Ex/Payable Date12/05/2025Dividend Rate$10.1756Nav Price Per Share$56.94
Distribution TypeIncome DividendRecord Date09/29/2025Ex/Payable Date09/30/2025Dividend Rate$0.0327Nav Price Per Share$65.61
Distribution TypeIncome DividendRecord Date06/27/2025Ex/Payable Date06/30/2025Dividend Rate$0.0522Nav Price Per Share$63.96

Commentary


  • 1Q26 Parnassus Core Equity Fund Commentary

  • 1Q26 Parnassus Core Equity Fund Quarterly Portfolio Update

    04.20.2026

    Watch

Characteristics

Sector Weights as of 03/31/2026

Created with Highcharts 11.0.06.2%​6.2%11.7%​11.7%4.0%​4.0%0.0%​0.0%11.5%​11.5%12.3%​12.3%14.3%​14.3%30.6%​30.6%5.4%​5.4%3.1%​3.1%0.0%​0.0%0.9%​0.9%10.3%​10.3%10.0%​10.0%5.2%​5.2%4.0%​4.0%12.5%​12.5%9.5%​9.5%8.9%​8.9%33.1%​33.1%2.1%​2.1%1.9%​1.9%2.5%​2.5%0.0%​0.0%Communication ServicesConsumer DiscretionaryConsumer StaplesEnergyFinancialsHealth CareIndustrialsInformation TechnologyMaterialsReal EstateUtilitiesCash and Other0%5%10%15%20%25%30%35%Parnassus Core Equity Fund Institutional SharesS&P 500 Index

Fund information is not intended to represent future portfolio composition. Weightings are based on percent of total net assets, are subject to change and should not be considered a recommendation to buy or sell any securities. Percentages may not total 100% due to rounding.

Top Holdingsas of 04/30/2026

Alphabet Inc., Class A
7.2%
NVIDIA Corp.
6.3%
Amazon.com Inc.
5.8%
Microsoft Corp.
5.2%
Apple Inc.
4.3%
Waste Management Inc.
3.6%
Applied Materials Inc.
3.5%
Deere & Co.
3.4%
Eli Lilly & Co.
3.0%
Broadcom Inc.
3.0%
Total
45.3%
Full Monthly Holdings

Quarterly Performance Contributorsas of 03/31/2026

Security NameTotal Return of the Holding (%)Contribution to the Portfolio Return (%)
Security NameApplied Materials Inc.Total Return of the Holding (%)33.16Contribution to the Portfolio Return (%)0.73
Security NameDeere & Co.Total Return of the Holding (%)21.34Contribution to the Portfolio Return (%)0.68
Security NameKLA Corp.Total Return of the Holding (%)21.33Contribution to the Portfolio Return (%)0.41

Quarterly Performance Detractorsas of 03/31/2026

Security NameTotal Return of the Holding (%)Contribution to the Portfolio Return (%)
Security NameMicrosoft Corp.Total Return of the Holding (%)-23.28Contribution to the Portfolio Return (%)-1.49
Security NameBoston Scientific Corp.Total Return of the Holding (%)-34.19Contribution to the Portfolio Return (%)-0.81
Security NameAlphabet Inc., CL ATotal Return of the Holding (%)-8.06Contribution to the Portfolio Return (%)-0.55

Fund Characteristics

As of 03/31/2026PRILXS&P 500 Index
Average Weighted Market CapPRILX$1096.3BS&P 500 Index$1228.7B
P/E RatioPRILX30.8xS&P 500 Index26.1x
P/B RatioPRILX5.8xS&P 500 Index4.8x
Number of HoldingsPRILX37S&P 500 Index503
Turnover (2025 Annual)PRILX28.4%S&P 500 IndexNA

Fund Statistics

As of 03/31/2026 (5 Year)PRILXS&P 500 Index
AlphaPRILX-2.78%S&P 500 Index0
BetaPRILX0.96S&P 500 Index1.00
R-SquaredPRILX0.96S&P 500 Index1.00
Sharpe RatioPRILX0.34S&P 500 Index0.57
Standard DeviationPRILX14.95%S&P 500 Index15.26%
Downside RiskPRILX9.75%S&P 500 Index9.54%
Tracking ErrorPRILX3.05%S&P 500 Index0
Active SharePRILX65.58%S&P 500 IndexNA
Upside Capture RatioPRILX89.17S&P 500 Index100.00
Downside Capture RatioPRILX102.00S&P 500 Index100.00
Introducing the Parnassus Core Select ETF | PRCS Introducing the Parnassus Core Select ETF | PRCS

Introducing the Parnassus Core Select ETF | PRCS

Enhance your U.S. large-cap core equity allocation with our concentrated portfolio of highest-conviction stocks. 

View PRCSView PRCS

Literature

Fund Documents


  • 3 Reasons to Own the Parnassus Core Equity Fund

  • 1Q26 Parnassus Core Equity Fund Fact Sheet

  • Parnassus Core Equity Fund Summary Prospectus

  • Parnassus Funds Statutory Prospectus

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© 2010-2026 Parnassus Investments, LLC.

PARNASSUS, PARNASSUS INVESTMENTS, and PARNASSUS FUNDS are federally registered trademarks of Parnassus Investments, LLC.

Important Information

ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) GUIDELINES The Parnassus strategies evaluate ESG factors as part of the investment decision-making process, considering a range of impacts they may have on future revenues, expenses, assets, liabilities and overall risk. The strategies also utilize active ownership to encourage more sustainable business policies and practices and greater ESG transparency. Active ownership strategies include proxy voting, dialogue with company management, sponsorship of shareholder resolutions, and public policy advocacy. There is no guarantee that the ESG strategies will be successful.

Mutual fund investing involves risk, and loss of principal is possible.

Earnings Growth is not a measure of future performance.

Shares of the Funds are offered only for sale in the United States. The Funds are not registered for sale in any other country. Nothing on this site should be considered a solicitation to buy or an offer to sell shares of the Funds in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such foreign jurisdiction or the United States.

For the current holdings of the Parnassus Core Equity Fund, the Parnassus Growth Equity Fund, the Parnassus Value Equity Fund, the Parnassus Mid Cap Fund, the Parnassus Mid Cap Growth Fund, the Parnassus International Equity Fund, the Parnassus Core Select ETF, and the Parnassus Value Select ETF, please visit each fund’s individual holdings page. Fund holdings are subject to change at any time.

ETFs are subject to additional risks that do not apply to conventional funds, including the risks that the market price of an ETF's shares may trade at a premium or discount to its net asset value, an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact an ETF's ability to sell its shares. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. Brokerage commissions will reduce returns.

For current quarter-end standardized performance and disclosure information, please click here.

Performance data quoted represent past performance and are no guarantee of future returns. Current performance may be lower or higher than the performance data quoted. Current performance information to the most recent month end is available on the Parnassus website (www.parnassus.com). Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original principal cost.

Before investing, an investor should carefully consider the investment objectives, risks, charges and expenses of a fund and should carefully read the prospectus or summary prospectus, which contains this and other information and can be found in our Literature and Forms section or by calling (800) 999-3505 for a mutual fund prospectus or (855) 514-4443 for an ETF prospectus.

The Parnassus Funds are distributed by Parnassus Funds Distributor, LLC.

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This site is intended for U.S. investors only and should not be considered a solicitation or offering to investors outside the U.S.