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Name

As of 11/07/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Parnassus Core Equity Fund

PRILX | Fund

$66.92

$29.4 B

0.53%

$0.35

0.62%

Vitals

YTD Return

21.6%

1 yr return

32.2%

3 Yr Avg Return

8.3%

5 Yr Avg Return

15.0%

Net Assets

$29.4 B

Holdings in Top 10

44.1%

52 WEEK LOW AND HIGH

$66.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.62%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 25.82%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$100,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/07/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Parnassus Core Equity Fund

PRILX | Fund

$66.92

$29.4 B

0.53%

$0.35

0.62%

PRILX - Profile

Distributions

  • YTD Total Return 21.6%
  • 3 Yr Annualized Total Return 8.3%
  • 5 Yr Annualized Total Return 15.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.60%
DIVIDENDS
  • Dividend Yield 0.5%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Parnassus Core Equity Fund
  • Fund Family Name
    Parnassus Funds
  • Inception Date
    Apr 28, 2006
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Todd Ahlsten

Fund Description

The Parnassus Core Equity Fund’s objective is to achieve both capital appreciation and current income by investing primarily in a diversified portfolio of equity securities. Equity securities include common and preferred stock. Under normal circumstances, the Fund will invest a minimum of 80% of its net assets (plus borrowings for investment purposes) in equity securities. At least 65% of the Fund’s total assets will normally be invested in equity securities that pay interest or dividends. The remaining 35% may be invested in non-dividend-paying equity securities, short-term instruments and money-market instruments (i.e., “cash” or cash equivalents). The Parnassus Core Equity Fund is primarily a large-cap fund, which means that it normally invests more than half of its net assets in large, well-established companies. The Fund considers a large-cap company to be one that has a market capitalization that is greater than the median market capitalization of the Russell 1000® Index (which was $14.9 billion as of March 31, 2024) measured at the time of purchase. The Fund may invest to a lesser
extent in small-and mid-capitalization companies. The portfolio managers focus on seeking downside protection. The Fund may purchase foreign securities directly on foreign markets. The Fund invests mainly in domestic stocks of companies that are financially sound and have good prospects for the future, and to a lesser extent may also invest in foreign securities of similar companies. Using a value-oriented investment process, the Fund seeks to invest in equity securities that pay dividends, have the potential for capital appreciation and that the Fund’s investment adviser, Parnassus Investments, LLC, (the “Adviser”), believes have the capacity to raise dividends in the future. To determine a company’s prospects, the Adviser reviews the company’s income statement, cash flow statement and balance sheet, and analyzes the company’s sustainable strategic advantage and management team.
Upon initial investment, a company’s stock must be trading below its intrinsic value, which means that the Adviser seeks to purchase stock trading at a discount to the Adviser’s assessment of the company’s estimated value. As part of the Adviser’s investment approach, the Adviser seeks to invest in companies with sustainable business practices, in alignment with our investment philosophy, as we believe these factors are relevant to our assessment of quality and the risk-return profiles of companies in the Funds. The Fund will evaluate whether it will continue to hold or sell a security if the Adviser believes a company’s fundamentals will deteriorate, if it believes a company’s stock has little potential for appreciation or if the company no longer meets the Adviser’s sustainable investment expectations and the Adviser does not believe it is an appropriate investment for the Fund following such changes.
Read More

PRILX - Performance

Return Ranking - Trailing

Period PRILX Return Category Return Low Category Return High Rank in Category (%)
YTD 21.6% 3.6% 45.1% 71.94%
1 Yr 32.2% 6.6% 65.8% 75.14%
3 Yr 8.3%* -5.9% 16.1% 57.55%
5 Yr 15.0%* -0.8% 110.8% 40.32%
10 Yr 12.7%* 2.9% 52.7% 27.89%

* Annualized

Return Ranking - Calendar

Period PRILX Return Category Return Low Category Return High Rank in Category (%)
2023 17.5% -42.6% 47.4% 56.48%
2022 -26.0% -56.3% -4.2% 80.80%
2021 18.2% -27.2% 537.8% 45.00%
2020 14.1% -22.5% 2181.7% 36.85%
2019 20.6% -13.5% 40.4% 65.70%

Total Return Ranking - Trailing

Period PRILX Return Category Return Low Category Return High Rank in Category (%)
YTD 21.6% 3.6% 45.1% 71.94%
1 Yr 32.2% 6.6% 65.8% 75.14%
3 Yr 8.3%* -5.9% 16.1% 57.55%
5 Yr 15.0%* -0.8% 110.8% 40.32%
10 Yr 12.7%* 2.9% 52.7% 27.89%

* Annualized

Total Return Ranking - Calendar

Period PRILX Return Category Return Low Category Return High Rank in Category (%)
2023 25.2% -5.0% 47.4% 41.16%
2022 -18.4% -36.8% -2.2% 55.87%
2021 27.8% 3.0% 537.8% 36.58%
2020 21.5% -15.8% 2266.0% 14.19%
2019 31.0% -0.4% 241.3% 35.66%

NAV & Total Return History

PRILX - Holdings

Concentration Analysis

PRILX Category Low Category High PRILX % Rank
Net Assets 29.4 B 2.34 M 1.55 T 8.69%
Number of Holdings 46 2 3963 83.92%
Net Assets in Top 10 13.3 B 1.07 M 517 B 8.45%
Weighting of Top 10 44.10% 0.3% 112.9% 18.84%

Top 10 Holdings

  1. MICROSOFT CORP 0.00000000 6.89%
  2. NVIDIA CORP 0.00000000 6.63%
  3. ALPHABET INC-CL A 0.00000000 6.46%
  4. APPLE INC 0.00000000 4.56%
  5. SALESFORCE INC 0.00000000 4.16%
  6. DEERE AND CO 0.00000000 3.43%
  7. REALTY INCOME CORP 0.00000000 3.23%
  8. MASTERCARD INC - A 0.00000000 3.16%
  9. BALL CORP 0.00000000 2.81%
  10. LINDE PLC 0.00000000 2.78%

Asset Allocation

Weighting Return Low Return High PRILX % Rank
Stocks 		96.28% 0.00% 105.85% 87.33%
Other 		3.23% -13.91% 100.00% 4.39%
Cash 		0.47% 0.00% 99.07% 65.39%
Bonds 		0.01% 0.00% 94.06% 10.56%
Preferred Stocks 		0.00% 0.00% 2.53% 58.25%
Convertible Bonds 		0.00% 0.00% 5.54% 56.07%

Stock Sector Breakdown

Weighting Return Low Return High PRILX % Rank
Technology 		21.98% 0.00% 48.94% 66.67%
Financial Services 		16.62% 0.00% 55.59% 19.60%
Communication Services 		13.25% 0.00% 27.94% 5.21%
Healthcare 		13.08% 0.00% 52.29% 78.00%
Industrials 		12.52% 0.00% 29.90% 13.98%
Consumer Defense 		6.69% 0.00% 47.71% 54.51%
Consumer Cyclical 		6.31% 0.00% 30.33% 89.08%
Basic Materials 		4.85% 0.00% 25.70% 12.08%
Real Estate 		4.71% 0.00% 31.91% 8.52%
Utilities 		0.00% 0.00% 20.91% 92.89%
Energy 		0.00% 0.00% 41.64% 92.89%

Stock Geographic Breakdown

Weighting Return Low Return High PRILX % Rank
US 		96.28% 0.00% 105.85% 76.77%
Non US 		0.00% 0.00% 64.54% 63.85%

Bond Sector Breakdown

Weighting Return Low Return High PRILX % Rank
Derivative 		0.00% -1.75% 25.41% 61.03%
Cash & Equivalents 		0.00% 0.00% 100.00% 92.19%
Securitized 		0.00% 0.00% 52.16% 54.99%
Corporate 		0.00% 0.00% 100.00% 60.44%
Municipal 		0.00% 0.00% 2.10% 54.48%
Government 		0.00% 0.00% 100.00% 56.10%

Bond Geographic Breakdown

Weighting Return Low Return High PRILX % Rank
US 		0.01% 0.00% 94.06% 10.56%
Non US 		0.00% 0.00% 14.23% 54.43%

PRILX - Expenses

Operational Fees

PRILX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.62% 0.01% 19.75% 65.33%
Management Fee 0.57% 0.00% 1.90% 60.00%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.85% N/A

Sales Fees

PRILX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PRILX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PRILX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 25.82% 0.00% 268.00% 54.23%

PRILX - Distributions

Dividend Yield Analysis

PRILX Category Low Category High PRILX % Rank
Dividend Yield 0.53% 0.00% 25.47% 71.82%

Dividend Distribution Analysis

PRILX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Annual

Net Income Ratio Analysis

PRILX Category Low Category High PRILX % Rank
Net Income Ratio 0.60% -54.00% 2.44% 55.27%

Capital Gain Distribution Analysis

PRILX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

PRILX - Fund Manager Analysis

Managers

Todd Ahlsten

Start Date

Tenure

Tenure Rank

May 01, 2001

21.1

21.1%

Todd Ahlsten is the Chief Investment Officer and lead Portfolio Manager of the Parnassus Core Equity Fund. Mr. Ahlsten has responsibility for portfolio management for the firm’s Core Equity strategy. He also oversees all of the firm’s strategies, including mentoring investment staff, managing investment risk and acting as final arbiter on ESG decisions. He joined Parnassus Investments in 1995 as a Research Analyst after serving as a Parnassus research intern. In 1998, Mr. Ahlsten was promoted to Director of Research and subsequently became Portfolio Manager of the Parnassus Core Equity Fund in 2001. He became Chief Investment Officer in 2008. Mr. Ahlsten received his bachelor's degree in business administration from the University of California, Berkeley with an emphasis in finance and accounting.

Benjamin Allen

Start Date

Tenure

Tenure Rank

May 01, 2012

10.09

10.1%

Benjamin Allen is the Chief Executive Officer of Parnassus Investments and Portfolio Manager of the Parnassus Core Equity Fund. Mr. Allen is responsible for Parnassus’s long-term strategic direction, products and personnel. He is also responsible for portfolio management for the firm’s Core Equity strategy. He joined Parnassus Investments in 2005 as a Senior Research Analyst after serving as a Parnassus research intern. In 2008, Mr. Allen was promoted to Director of Research and subsequently became Portfolio Manager of the Parnassus Core Equity Fund in 2012. Prior to joining the firm, Mr. Allen worked at Morgan Stanley in New York, first as an Investment Banking Analyst and later in the firm's venture capital group. Mr. Allen graduated Phi Beta Kappa and magna cum laude from Georgetown University with a bachelor's degree in government and completed the general course in philosophy at the London School of Economics. He received his master's degree in business administration from the University of California, Berkeley.

Andrew Choi

Start Date

Tenure

Tenure Rank

Jan 03, 2022

0.41

0.4%

Andrew Choi is a Portfolio Manager of the Parnassus Core Equity Fund and a Senior Research Analyst. Mr. Choi has responsibility for portfolio management for the firm’s Core Equity strategy and firmwide research. Mr. Choi joined Parnassus as a Senior Research Analyst in 2018 after serving as a Parnassus research intern. Prior to joining Parnassus, Mr. Choi worked at Deloitte Consulting as a Business Analyst. Mr. Choi received his bachelor’s degree in Chemistry from Princeton University and his master’s degree in business administration from Harvard Business School.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 39.02 7.24 2.42

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