Parnassus Core Equity Fund’s Q2 2026 Investor Letter

Parnassus Investments, an investment management company, released the “Parnassus Core Equity Fund” second quarter of 2026 investor letter. The fund returned 16.83% in the second quarter of 2026, outperforming the S&P 500’s 15.20% gain. Performance was supported by holdings in Information Technology and Communication Services, as well as the fund’s lack of Energy exposure, while Financials and Health Care detracted. The fund is positioning for long-term growth through AI infrastructure, semiconductors, electrification and industrial automation, while maintaining defensive positions in quality compounders. Looking ahead, the manager remains constructively bullish on U.S. equities but cautious about narrow market leadership, trade tensions, inflation, and geopolitical risks. The fund continues to favor high-quality, competitively advantaged businesses at attractive valuations, with a balanced approach to capturing AI-driven opportunities while limiting downside risk. In addition, please check the Fund’s top five holdings to know its best picks in 2026.

A copy of Parnassus Core Equity Fund’s Q2 2026 investor letter can be downloaded here.