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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
Buyside Digest is not affiliated with, and does not endorse, Parnassus Value Equity Fund. This analysis is provided for institutional research purposes only and is not investment advice.
"The Parnassus Value Equity Fund outperformed its benchmark in 3Q25."
In the third quarter of 2025, the Parnassus Value Equity Fund (Investor Shares) returned 7.46%, outperforming the Russell 1000 Value Index’s return of 5.33%. Performance was primarily propelled by IT holdings riding the AI wave, though the managers modestly reduced their IT weight to increase exposure to Health Care (medical devices like Abbott and Stryker). The managers also exited Airbnb and transitioned their housing exposure from D.R. Horton to Home Depot. The fund remains constructive on value stocks, highlighting stable economic growth, falling rates, and rich broad-market valuations as catalysts for value outperformance.
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Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
Market Conviction
Growth Outlook
Risk Appetite
Capital Deployment
Forward Guidance
Language Signal
Perceived Risk
Opportunity Density
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