Parnassus Mid Cap Growth Fund
Fund
PFPRX
Price as of:
$65.19
+ $0.81
+ 1.26%
Primary Theme
fund company
Name
As of 11/22/2024Price
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
Vitals
YTD Return
16.8%
1 yr return
26.6%
3 Yr Avg Return
1.4%
5 Yr Avg Return
9.1%
Net Assets
$873 M
Holdings in Top 10
37.7%
52 WEEK LOW AND HIGH
$64.4
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.71%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 28.73%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$100,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/22/2024Price
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
PFPRX - Profile
Distributions
- YTD Total Return 16.8%
- 3 Yr Annualized Total Return 1.4%
- 5 Yr Annualized Total Return 9.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.40%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameParnassus Mid Cap Growth Fund
-
Fund Family NameParnassus Funds
-
Inception DateApr 30, 2015
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerIan Sexsmith
Fund Description
The Parnassus Mid Cap Growth Fund normally invests at least 80% of its net assets (plus borrowings for investment purposes) in mid-sized growth companies. The Fund considers a mid-sized company to be one that has a market capitalization between that of the smallest and largest constituents of the Russell Midcap® Growth Index (which was between $2.4 billion and $47.0 billion as of April 28, 2023) measured at the time of purchase. The Fund will not automatically sell or cease to purchase stock of a company it already owns just because the company’s market capitalization grows or falls outside the ranges of the Russell Midcap® Growth Index, which are subject to change. The Fund may normally invest up to 20% of its net assets in smaller-and larger-capitalization companies. A growth company is a company that the Adviser believes has a superior and pragmatic growth strategy and the potential for above-average revenue and earnings growth. 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. The Fund may purchase foreign securities directly on
foreign markets. To determine a company’s prospects, the Fund’s investment adviser, Parnassus Investments, LLC (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. 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.
PFPRX - Performance
Return Ranking - Trailing
| Period | PFPRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 16.8% | 0.5% | 130.5% | 70.61% |
| 1 Yr | 26.6% | 12.0% | 130.4% | 73.85% |
| 3 Yr | 1.4%* | -20.3% | 60.0% | 48.55% |
| 5 Yr | 9.1%* | -1.4% | 103.7% | 80.12% |
| 10 Yr | N/A* | 2.2% | 25.6% | 70.39% |
* Annualized
Return Ranking - Calendar
| Period | PFPRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 31.6% | -27.7% | 68.0% | 4.79% |
| 2022 | -34.2% | -85.6% | 52.8% | 70.91% |
| 2021 | 4.9% | -74.9% | 238.3% | 31.15% |
| 2020 | 21.9% | -44.1% | 2474.5% | 64.55% |
| 2019 | 24.5% | -50.2% | 44.0% | 59.62% |
Total Return Ranking - Trailing
| Period | PFPRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 16.8% | 0.5% | 130.5% | 70.61% |
| 1 Yr | 26.6% | 12.0% | 130.4% | 73.85% |
| 3 Yr | 1.4%* | -20.3% | 60.0% | 48.55% |
| 5 Yr | 9.1%* | -1.4% | 103.7% | 80.12% |
| 10 Yr | N/A* | 2.2% | 25.6% | 68.97% |
* Annualized
Total Return Ranking - Calendar
| Period | PFPRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 35.8% | -26.1% | 68.0% | 3.45% |
| 2022 | -33.4% | -67.0% | 56.8% | 78.23% |
| 2021 | 9.5% | -23.5% | 342.2% | 70.83% |
| 2020 | 28.8% | 2.6% | 2549.1% | 75.41% |
| 2019 | 30.0% | 14.6% | 44.8% | 80.34% |
NAV & Total Return History
PFPRX - Holdings
Concentration Analysis
| PFPRX | Category Low | Category High | PFPRX % Rank | |
|---|---|---|---|---|
| Net Assets | 873 M | 2.73 M | 100 B | 57.82% |
| Number of Holdings | 45 | 24 | 3581 | 83.78% |
| Net Assets in Top 10 | 333 M | 670 K | 11.3 B | 47.14% |
| Weighting of Top 10 | 37.66% | 4.5% | 97.8% | 23.66% |
Top 10 Holdings
- GUIDEWIRE SOFTWARE INC 0.00000000 6.22%
- EQUIFAX INC 0.00000000 4.91%
- TRANE TECHNOLOGIES PLC 0.00000000 3.94%
- TERADYNE INC 0.00000000 3.38%
- MERCADOLIBRE INC 0.00000000 3.36%
- AGILENT TECHNOLOGIES INC 0.00000000 3.34%
- ROSS STORES INC 0.00000000 3.26%
- KLA CORP 0.00000000 3.13%
- SHERWIN-WILLIAMS CO/THE 0.00000000 3.11%
- METTLER-TOLEDO INTERNATIONAL 0.00000000 3.03%
Asset Allocation
| Weighting | Return Low | Return High | PFPRX % Rank | |
|---|---|---|---|---|
| Stocks | 98.83% | 58.72% | 103.99% | 40.27% |
| Cash | 1.29% | 0.00% | 28.07% | 57.06% |
| Bonds | 0.13% | 0.00% | 2.73% | 4.20% |
| Preferred Stocks | 0.00% | 0.00% | 5.73% | 83.78% |
| Other | 0.00% | -0.04% | 14.45% | 83.78% |
| Convertible Bonds | 0.00% | 0.00% | 0.40% | 82.44% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | PFPRX % Rank | |
|---|---|---|---|---|
| Technology | 33.25% | 0.04% | 62.17% | 39.50% |
| Healthcare | 17.41% | 0.00% | 37.06% | 53.44% |
| Industrials | 13.51% | 0.00% | 38.23% | 60.69% |
| Consumer Cyclical | 13.45% | 0.00% | 57.41% | 57.82% |
| Financial Services | 11.94% | 0.00% | 43.01% | 22.90% |
| Communication Services | 4.91% | 0.00% | 18.33% | 17.94% |
| Real Estate | 3.11% | 0.00% | 19.28% | 40.65% |
| Basic Materials | 2.42% | 0.00% | 17.25% | 45.42% |
| Utilities | 0.00% | 0.00% | 12.94% | 86.07% |
| Energy | 0.00% | 0.00% | 62.10% | 92.94% |
| Consumer Defense | 0.00% | 0.00% | 16.40% | 97.14% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | PFPRX % Rank | |
|---|---|---|---|---|
| US | 98.83% | 46.79% | 103.99% | 33.59% |
| Non US | 0.00% | 0.00% | 34.12% | 86.83% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | PFPRX % Rank | |
|---|---|---|---|---|
| Cash & Equivalents | 1.29% | 0.00% | 100.00% | 53.05% |
| Derivative | 0.00% | -0.04% | 14.45% | 82.06% |
| Securitized | 0.00% | 0.00% | 30.57% | 82.19% |
| Corporate | 0.00% | 0.00% | 100.00% | 83.02% |
| Municipal | 0.00% | 0.00% | 0.02% | 82.19% |
| Government | 0.00% | 0.00% | 99.86% | 82.19% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | PFPRX % Rank | |
|---|---|---|---|---|
| US | 0.13% | 0.00% | 2.73% | 4.20% |
| Non US | 0.00% | 0.00% | 0.02% | 82.25% |
PFPRX - Expenses
Operational Fees
| PFPRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.71% | 0.02% | 17.54% | 85.31% |
| Management Fee | 0.62% | 0.00% | 1.50% | 25.81% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.00% | 0.40% | N/A |
Sales Fees
| PFPRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| PFPRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 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.
| PFPRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 28.73% | 0.00% | 250.31% | 35.94% |
PFPRX - Distributions
Dividend Yield Analysis
| PFPRX | Category Low | Category High | PFPRX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 33.43% | 87.40% |
Dividend Distribution Analysis
| PFPRX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Annual | Annual |
Net Income Ratio Analysis
| PFPRX | Category Low | Category High | PFPRX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.40% | -2.24% | 2.75% | 32.17% |
Capital Gain Distribution Analysis
| PFPRX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 16, 2023 | $1.588 | CapitalGainLongTerm |
| Nov 17, 2022 | $0.520 | CapitalGainLongTerm |
| Dec 22, 2021 | $0.934 | OrdinaryDividend |
| Nov 18, 2021 | $1.962 | CapitalGainLongTerm |
| Dec 17, 2020 | $0.055 | OrdinaryDividend |
| Nov 19, 2020 | $3.140 | CapitalGainLongTerm |
| Dec 27, 2019 | $1.356 | OrdinaryDividend |
| Nov 21, 2019 | $0.848 | CapitalGainLongTerm |
| Dec 27, 2018 | $0.614 | OrdinaryDividend |
| Nov 20, 2018 | $2.681 | CapitalGainLongTerm |
| Dec 27, 2017 | $0.523 | OrdinaryDividend |
| Nov 21, 2017 | $3.393 | CapitalGainLongTerm |
| Dec 28, 2016 | $0.426 | OrdinaryDividend |
| Nov 22, 2016 | $0.556 | CapitalGainLongTerm |
| Dec 30, 2015 | $1.841 | OrdinaryDividend |
| Nov 24, 2015 | $6.164 | CapitalGainLongTerm |
PFPRX - Fund Manager Analysis
Managers
Ian Sexsmith
Start Date
Tenure
Tenure Rank
May 01, 2013
9.09
9.1%
Ian Sexsmith is a Portfolio Manager since 2013 and a Senior Research Analyst since 2011. He joined Parnassus Investments in 2011 and was previously a Parnassus research intern. Prior to joining the firm, his work experience includes Investment Banking, Merger Arbitrage and Investment Management in Toronto for Scotia Capital and for TD Asset Management from 2010 to 2011. Mr. Sexsmith received his bachelor of commerce degree from the University of Manitoba, Canada and his master’s degree in business administration from the University of California, Berekely. He is a CFA charter holder and a member of the CFA Society of San Francisco.
Robert Klaber
Start Date
Tenure
Tenure Rank
May 01, 2016
6.08
6.1%
Robert J. Klaber has served as portfolio manager for Parnassus Investments since 2016. He is also a Senior Research Analyst at Parnassus Investments, where he has worked since 2012. Prior to his tenure with Parnassus, Mr. Klaber was a student at Harvard Business School, from which he received an MBA in 2012.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 36.3 | 9.4 | 11.76 |