Here’s Why Parnassus Core Equity Fund Sold Adobe (ADBE)

Parnassus Investments, an investment management company, released the “Parnassus Core Equity Fund” third quarter 2024 investor letter. A copy of the investor letter can be downloaded here. U.S equities rose in the third quarter and the Fund (Investor Shares) appreciated 5.50% (net of fees) in the quarter underperforming the S&P 500 Index’s 5.89% return. The favorable stock selection in the Materials and Financials sector contributed to the fund’s performance in the quarter while...