PARNASSUS INVESTMENTS, LLC

13F equity value

$34.1B

Positions

135

Top 10 concentration

37.3%

Quarters / total new picks

32 / 238

13F equity value over time

"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.

Not significant Verdict

13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.

We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 32 quarters, returned +2.7% per quarter — versus +2.7% per quarter from simply owning every 13F stock. It beat that baseline in only 43.8% of quarters (excess t = -0.38, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess

-0.8%

t-stat

-0.38

Quarterly win rate

44%

Annualized excess

-0.3%

$1 → follow vs universe

$2.04 vs $2.09

Cumulative return: $1 invested in new picks vs universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 20 holdings of 135 · 2026 Q1

Ticker	Value	Weight	QoQ
GOOGL	$1.9B	5.4%	TRIM
NVDA	$1.6B	4.8%	HOLD
MSFT	$1.6B	4.5%	TRIM
AMZN	$1.5B	4.5%	TRIM
AAPL	$1.2B	3.5%	TRIM
WM	$1.1B	3.4%	TRIM
DE	$1.1B	3.1%	TRIM
AMAT	$1.0B	3.0%	TRIM
O	$865M	2.5%	TRIM
LLY	$860M	2.5%	TRIM
MA	$847M	2.5%	TRIM
LIN	$842M	2.5%	TRIM
KLAC	$793M	2.3%	TRIM
ICE	$791M	2.3%	TRIM
DHR	$754M	2.2%	TRIM
TMO	$740M	2.2%	TRIM
BAC	$722M	2.1%	TRIM
GWW	$710M	2.1%	HOLD
AVGO	$706M	2.1%	TRIM
SPGI	$701M	2.1%	TRIM

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

BLDR CB DKS MDLN META NVS RDDT RKLB RTO SGI SHOP VIK

Method & Limitations

Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.