PRBLX: Parnassus Core Equity Investor

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PRBLX Parnassus Core Equity Investor

  • Fund
  • PRBLX
  • Price as of: Dec 05, 2019
  • $45.76
    - $0.00 - 0.00%

Profile

PRBLX - Profile

Vitals

  • YTD Return 17.4%
  • 3 Yr Annualized Return 15.0%
  • 5 Yr Annualized Return 10.4%
  • Net Assets $18.2 B
  • Holdings in Top 10 36.1%

52 WEEK LOW AND HIGH

$45.76
$36.74
$49.15

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.87%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 31.43%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,000
  • IRA $500

Fund Classification


Distributions

  • YTD Total Return 17.4%
  • 3 Yr Annualized Total Return 15.0%
  • 5 Yr Annualized Total Return 10.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.03%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Parnassus Core Equity Fund
  • Fund Family Name
    Parnassus
  • Inception Date
    Aug 31, 1992
  • Shares Outstanding
    N/A
  • Share Class
    Inv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Todd C. Ahlsten

Fund Description

The Parnassus Core Equity Fund (PRBLX) is designed to provide both capital appreciation and current income for its investors. To do this, the fund seeks out large cap companies that seem to be undervalued compared to the overall market. At least 75% of the fund’s assets will be invested in equities that pay normal dividends while the remaining allocation may go to non-dividend securities. That investment breakdown means that the fund will lean more towards an income product than one designed for growth, though it does deliver aspects of both. PRBLX also takes environmental, social, and governance factors into account when it is picking its holdings.

With a quarterly dividend and at least 75% of its assets focused on dividend-payers, PRBLX is most appropriate for an income investor that is looking for a bit of growth potential as well. The fund would likely not act as a core holding in a portfolio, but rather as a complement to an already-diversified strategy. The fund is managed by Todd C. Ahlsten and Benjamin E. Allen who combine to boast more than 25 years of experience in the investing world. The fund charges 87 basis points for investment and holds a minimum investment threshold of $2,000.


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Categories

Performance

PRBLX - Performance

Return Ranking - Trailing

Period PRBLX Return Category Return Low Category Return High Rank in Category (%)
YTD 17.4% 0.0% 37.8% 87.23%
1 Yr 17.4% -59.2% 25.8% 4.15%
3 Yr 15.0%* -31.4% 56.5% 2.87%
5 Yr 10.4%* -27.0% 29.2% 4.70%
10 Yr 12.9%* -9.1% 14.4% 5.61%

* Annualized

Return Ranking - Calendar

Period PRBLX Return Category Return Low Category Return High Rank in Category (%)
2018 -8.6% -67.0% 10.0% 18.21%
2017 8.6% -32.8% 302.5% 75.46%
2016 6.3% -26.1% 19.7% 56.30%
2015 -9.1% -82.5% 7.8% 72.47%
2014 10.9% -28.7% 24.1% 20.42%

Total Return Ranking - Trailing

Period PRBLX Return Category Return Low Category Return High Rank in Category (%)
YTD 17.4% -0.3% 37.5% 88.01%
1 Yr 17.4% -59.2% 25.6% 11.07%
3 Yr 15.0%* -21.3% 56.5% 6.21%
5 Yr 10.4%* -17.9% 29.2% 8.43%
10 Yr 12.9%* -4.3% 17.3% 9.45%

* Annualized

Total Return Ranking - Calendar

Period PRBLX Return Category Return Low Category Return High Rank in Category (%)
2018 -8.6% -67.0% 10.0% 46.80%
2017 8.6% -22.1% 302.5% 91.79%
2016 6.3% -16.4% 23.8% 79.86%
2015 -9.1% -26.4% 106.5% 90.86%
2014 10.9% -24.8% 25.9% 49.18%

NAV & Total Return History


Holdings

PRBLX - Holdings

Concentration Analysis

PRBLX Category Low Category High PRBLX % Rank
Net Assets 18.2 B 134 K 875 B 5.52%
Number of Holdings 40 2 3613 90.75%
Net Assets in Top 10 6.38 B -123 M 155 B 3.74%
Weighting of Top 10 36.13% 2.2% 1400.6% 21.31%

Top 10 Holdings

  1. Microsoft Corp 6.03%
  2. The Walt Disney Co 4.63%
  3. Costco Wholesale Corp 3.43%
  4. Danaher Corp 3.39%
  5. American Express Co 3.31%
  6. Clorox Co 3.21%
  7. Linde PLC 3.13%
  8. FedEx Corp 3.11%
  9. Bank of America Corp 2.96%
  10. Verisk Analytics Inc 2.93%

Asset Allocation

Weighting Return Low Return High PRBLX % Rank
Stocks
97.91% -1.18% 145.87% 68.51%
Cash
2.09% -45.87% 101.18% 29.80%
Preferred Stocks
0.00% -17.98% 6.21% 77.25%
Other
0.00% -1.48% 16.72% 76.66%
Convertible Bonds
0.00% 0.00% 9.79% 76.66%
Bonds
0.00% -14.46% 11.29% 76.49%

Stock Sector Breakdown

Weighting Return Low Return High PRBLX % Rank
Technology
20.46% 0.00% 118.30% 41.97%
Consumer Defense
15.07% 0.00% 71.31% 5.52%
Industrials
14.55% 0.00% 79.24% 9.94%
Healthcare
13.78% 0.00% 92.30% 47.58%
Financial Services
13.21% 0.00% 106.34% 84.45%
Communication Services
6.84% 0.00% 27.72% 41.29%
Basic Materials
5.77% -3.81% 23.60% 6.63%
Real Estate
4.71% -3.11% 64.58% 13.85%
Consumer Cyclical
3.51% 0.00% 74.42% 96.94%
Utilities
0.00% -13.41% 21.36% 95.16%
Energy
0.00% -1.47% 70.63% 96.69%

Stock Geographic Breakdown

Weighting Return Low Return High PRBLX % Rank
US
94.78% 80.02% 687.00% 65.62%
Non US
3.13% -688.18% 20.06% 36.84%

Expenses

PRBLX - Expenses

Operational Fees

PRBLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.87% 0.00% 119.91% 56.95%
Management Fee 0.58% 0.00% 2.00% 53.90%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.85% N/A

Sales Fees

PRBLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% N/A
Deferred Load N/A 0.95% 5.00% N/A

Trading Fees

PRBLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.05% 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.

PRBLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 31.43% 0.00% 838.00% 41.08%

Distributions

PRBLX - Distributions

Dividend Yield Analysis

PRBLX Category Low Category High PRBLX % Rank
Dividend Yield 0.19% 0.00% 8.17% 63.33%

Dividend Distribution Analysis

PRBLX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Net Income Ratio Analysis

PRBLX Category Low Category High PRBLX % Rank
Net Income Ratio 1.03% -2.85% 2.89% 54.01%

Capital Gain Distribution Analysis

PRBLX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

PRBLX - Fund Manager Analysis

Managers

Todd C. Ahlsten


Start Date

Tenure

Tenure Rank

May 01, 2001

18.59

18.6%

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 E. Allen


Start Date

Tenure

Tenure Rank

May 01, 2012

7.59

7.6%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 33.39 6.03 0.42