Parnassus Investments, an investment management company, released the “Parnassus Core Equity Fund” second quarter of 2026 investor letter. A copy of the letter can be downloaded here. 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.
In its second-quarter 2026 investor letter, Parnassus Core Equity Fund highlighted stocks like DoorDash, Inc. (NASDAQ:DASH). DoorDash, Inc. (NASDAQ:DASH) operates a leading local commerce platform that connects consumers with restaurants, grocery stores, and other merchants through its delivery network. The one-month return of DoorDash, Inc. (NASDAQ:DASH) was 17.44% while its shares traded between $143.30 and $285.50 over the last 52 weeks. On August 13, 2026, DoorDash, Inc. (NASDAQ:DASH) stock closed at approximately $212.49 per share, with a market capitalization of about $93.70 billion.
Parnassus Core Equity Fund stated the following regarding DoorDash, Inc. (NASDAQ:DASH) in its Q2 2026 investor letter:
DoorDash (NASDAQ:DASH), the food delivery platform, is a new position initiated during the quarter. We bought the stock at a recent low, then it rebounded as geopolitical worries eased and gasoline prices fell, supporting driver economics, consumer willingness to spend on delivery and sentiment toward the business.
DoorDash, Inc. (NASDAQ:DASH) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. As per our database, 117 hedge fund portfolios held DoorDash, Inc. (NASDAQ:DASH) at the end of the first quarter, which was 108 in the previous quarter. While we acknowledge the risk and potential of DoorDash, Inc. (NASDAQ:DASH) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than DoorDash, Inc. (NASDAQ:DASH) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered DoorDash, Inc. (NASDAQ:DASH) and shared the company’s ability to sustain robust growth amid increasing operating costs. In addition, please check out our hedge fund investor letters Q1 2026 page for more investor letters from hedge funds and other leading investors.
READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years
Disclosure: None. This article is originally published at Insider Monkey.
