Parnassus Investments, LLC

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 10, 2025), Parnassus Investments, LLC reported 126 stock positions worth $45.0 billion. Its top holding was Microsoft (MSFT) at 5.6% of the portfolio, followed by Amazon.com (AMZN, 5.4%) and Nvidia (NVDA, 4.8%). Compared with Q3 2024, it opened 6 new positions, sold out of 6, added to 42 and reduced 74. The biggest buy was a new position in Vertex Pharmaceuticals (VRTX) and the biggest sale Oracle (ORCL, shares −52%).

Most Recent 13F
Q2 2026
Location
San Francisco, CA
CIK
0000948669
Portfolio Value
$45.0B (Q4 2024)
SEC Filing
0001172661-25-000594 ↗ filed Feb 10, 2025

Holdings Value

0$10.0B$20.0B$30.0B$40.0B$50.0B Q1 2024: $46.8B Q1 2024 Q2 2024: $45.9B Q2 2024 Q3 2024: $47.1B Q3 2024 Q4 2024: $45.0B $45.0B Q4 2024 Q1 2025: $41.6B Q1 2025 Q2 2025: $43.4B Q2 2025 Q3 2025: $43.3B Q3 2025 Q4 2025: $38.6B Q4 2025 Q1 2026: $34.1B Q1 2026 Q2 2026: $37.4B Q2 2026

Holdings 126 stocks · $45.0B
MSFT Microsoft Corp. 5.60% 5,976,144 $2.5B Reduce -3.8%
AMZN Amazon.com Inc. 5.44% 11,168,227 $2.5B Reduce -2.1%
NVDA Nvidia Corp. 4.84% 16,213,846 $2.2B Reduce -20.6%
GOOGL Alphabet Inc. Class A 4.40% 10,459,206 $2.0B Reduce -6.4%
DE Deere & Co. 3.25% 3,448,684 $1.5B Reduce -6.0%
MA Mastercard Inc. Class A 3.09% 2,639,185 $1.4B Reduce -6.4%
WM Waste Management Inc. 2.81% 6,272,009 $1.3B Add +22.5%
AVGO Broadcom Inc. 2.73% 5,310,912 $1.2B Reduce -5.9%
O Realty Income Corp. 2.69% 22,696,262 $1.2B Reduce -7.2%
SPGI S&P Global Inc. 2.46% 2,227,777 $1.1B Reduce -5.5%
ICE Intercontinental Exchange Inc. 2.41% 7,273,286 $1.1B Reduce -7.2%
CRM Salesforce Inc. 2.40% 3,227,604 $1.1B Reduce -40.6%
BALL Ball Corp. 2.31% 18,835,298 $1.0B Reduce -6.0%
FISV Fiserv Inc. 2.22% 4,861,759 $998.7M Reduce -6.6%
AAPL Apple Inc. 2.19% 3,935,571 $985.5M Reduce -6.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 2.07% 21,182,507 $931.0M Reduce -5.4%
LIN Linde PLC 2.01% 2,159,908 $904.3M Reduce -6.5%
AZO AutoZone Inc. 1.98% 278,542 $891.9M Reduce -7.0%
CI The Cigna Group 1.72% 2,798,981 $772.9M Reduce -4.2%
MRSH Marsh & McLennan Cos 1.68% 3,569,141 $758.1M Reduce -16.5%
TMO Thermo Fisher Scientific Inc. 1.63% 1,410,957 $734.0M Add +25.1%
VRTX Vertex Pharmaceuticals Inc. 1.62% 1,815,950 $731.3M New
LLY Eli Lilly & Co. 1.60% 934,702 $721.6M Add +38959.8%
DHR Danaher Corp. 1.58% 3,105,388 $712.8M Add +31.8%
SYK Stryker Corp. 1.57% 1,968,582 $708.8M Reduce -6.8%
INTU Intuit Inc. 1.56% 1,117,327 $702.2M Reduce -6.4%
SHW The Sherwin-Williams Co. 1.51% 2,004,349 $681.3M Reduce -17.6%
VZ Verizon Communications Inc. 1.48% 16,612,979 $664.4M Reduce -8.5%
COST Costco Wholesale Corp. 1.45% 710,831 $651.3M Reduce -6.7%
WDAY Workday Inc. Class A 1.40% 2,447,735 $631.6M Add +562.2%
MAR Marriott International Class A 1.37% 2,203,229 $614.6M Reduce -6.3%
FERG Ferguson Enterprises Inc. 1.36% 3,537,155 $613.9M Add +944.4%
PG The Procter & Gamble Co. 1.30% 3,499,460 $586.7M Reduce -7.8%
AMAT Applied Materials Inc. 1.30% 3,593,870 $584.5M Add +4.7%
ORCL Oracle Corp. 1.27% 3,439,246 $573.1M Reduce -51.9%
DHI D.R. Horton Inc. 1.27% 4,098,488 $573.1M Reduce -4.8%
SNPS Synopsys Inc. 1.27% 1,180,668 $573.0M Reduce -5.6%
VRSK Verisk Analytics Inc. 1.21% 1,977,559 $544.7M Reduce -6.2%
EFX Equifax Inc. 1.10% 1,948,324 $496.5M Reduce -5.7%
KLAC KLA Corp. 1.03% 733,328 $462.1M Add +381.3%
CBRE CBRE Group Inc. Class A 0.57% 1,963,825 $257.8M Reduce -2.8%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.49% 2,877,920 $221.1M Reduce -10.2%
ROST Ross Stores Inc. 0.46% 1,371,768 $207.5M Reduce -6.5%
WDC Western Digital Corp. 0.39% 2,980,047 $177.7M Add +24.5%
SYY Sysco Corp. 0.35% 2,041,218 $156.1M Reduce -75.7%
A Agilent Technologies Inc. 0.34% 1,140,757 $153.2M Reduce -0.2%
JBHT Hunt (jb) Transprt SVCS Inc. 0.30% 790,038 $134.8M Add +4.9%
CMI Cummins Inc. 0.29% 380,118 $132.5M Reduce -5.2%
FTNT Fortinet Inc. 0.28% 1,355,397 $128.1M Reduce -6.5%
SCHW Schwab (charles) Corp. 0.28% 1,695,164 $125.5M Add +0.0%
SPG Simon Property Group Inc. 0.28% 718,854 $123.8M No change
GPN Global Payments Inc. 0.27% 1,098,035 $123.0M Reduce -16.2%
C Citigroup Inc. 0.27% 1,725,687 $121.5M No change
PFE Pfizer Inc. 0.26% 4,392,905 $116.5M Add +0.1%
FIS Fidelity National Info Serv 0.25% 1,409,635 $113.9M Reduce -52.2%
UNP Union Pacific Corp. 0.24% 483,143 $110.2M Add +0.0%
TRU Transunion 0.24% 1,167,746 $108.3M Reduce -6.5%
BEPC Brookfield Renewable Corp. 0.24% 3,910,496 $108.2M Add +46.6%
PGR Progressive Corp. 0.24% 449,242 $107.6M Reduce -25.5%
UNH Unitedhealth Group Inc. 0.24% 211,179 $106.8M Add +11.5%
GILD Gilead Sciences Inc. 0.24% 1,151,874 $106.4M No change
BR Broadridge Financial Solutio 0.23% 459,592 $103.9M Reduce -6.2%
ADSK Autodesk Inc. 0.23% 351,355 $103.8M Reduce -5.8%
BIO Bio-Rad Laboratories-A 0.23% 310,867 $102.1M Add +0.0%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.23% 863,014 $101.4M Reduce -12.0%
CBOE Cboe Global Markets Inc. 0.22% 507,032 $99.1M Reduce -9.9%
TSM Taiwan Semiconductor-SP ADR 0.21% 486,191 $96.0M Add +0.2%
POOL Pool Corp. 0.21% 274,165 $93.5M Add +33.9%
ORLY O'reilly Automotive Inc. 0.21% 78,776 $93.4M Reduce -6.9%
ROP Roper Technologies Inc. 0.21% 179,137 $93.1M Reduce -6.3%
TFC Truist Financial Corp. 0.21% 2,141,993 $92.9M Add +8.9%
MU Micron Technology Inc. 0.20% 1,057,646 $89.0M Add +0.0%
ODFL Old Dominion Freight Line 0.20% 498,977 $88.0M Add +13.4%
NICE Nice Ltd. - Spon ADR 0.20% 517,279 $87.9M Add +0.1%
RSG Republic Services Inc. 0.19% 430,341 $86.6M Reduce -8.0%
ALL Allstate Corp. 0.19% 446,841 $86.1M Reduce -2.9%
ABNB Airbnb Inc. Class A 0.19% 655,539 $86.1M Add +8324.9%
XYL Xylem Inc. 0.19% 735,489 $85.3M Add +29.7%
CME Cme Group Inc. 0.19% 366,827 $85.2M Reduce -83.8%
FDX FedEx Corp. 0.19% 301,210 $84.7M No change
GWRE Guidewire Software Inc. 0.19% 499,611 $84.2M Reduce -54.5%
V Visa Inc. Class A 0.18% 260,174 $82.2M Add +2622.9%
TEAM Atlassian Corp. Class A 0.18% 325,367 $79.2M Add +1.3%
AZN Astrazeneca PLC-Spons ADR 0.17% 1,179,018 $77.2M Add +15819.8%
HOLX Hologic Inc. 0.17% 1,063,421 $76.7M Reduce -9.0%
CMCSA Comcast Corp. Class A 0.16% 1,921,745 $72.1M Add +0.1%
OTIS Otis Worldwide Corp. 0.16% 771,116 $71.4M Reduce -6.3%
ALGN Align Technology Inc. 0.15% 330,007 $68.8M Reduce -16.8%
HLT Hilton Worldwide Holdings Inc. 0.15% 269,769 $66.7M Reduce -4.2%
IQV Iqvia Holdings Inc. 0.15% 334,178 $65.7M Reduce -5.2%
BAX Baxter International Inc. 0.14% 2,230,611 $65.0M Add +0.1%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.14% 1,060,467 $62.1M Reduce -6.5%
LRCX Lam Research Corp. 0.14% 847,483 $61.2M Add +27.9%
RGEN Repligen Corp. 0.12% 366,232 $52.7M Reduce -4.0%
PNR Pentair PLC 0.12% 516,798 $52.0M Reduce -5.6%
NVO Novo-Nordisk A/S-Spons ADR 0.11% 593,722 $51.1M New
INTC Intel Corp. 0.10% 2,207,479 $44.3M Reduce -16.4%
TT Trane Technologies PLC 0.07% 88,575 $32.7M Reduce -1.3%
TER Teradyne Inc. 0.07% 242,068 $30.5M Add +8.4%
MELI MercadoLibre Inc. 0.07% 17,304 $29.4M Add +16.1%
XYZ Block Inc. 0.06% 317,525 $27.0M New
DDOG Datadog Inc. Class A 0.06% 188,127 $26.9M Add +1.5%
MORN Morningstar Inc. 0.05% 70,111 $23.6M Reduce -1.3%
MTD Mettler-Toledo International 0.05% 17,617 $21.6M Reduce -1.3%
MSCI MSCI Inc. 0.05% 35,504 $21.3M Reduce -1.4%
WST West Pharmaceutical Services 0.05% 62,479 $20.5M Add +7.0%
IDXX Idexx Laboratories Inc. 0.04% 48,347 $20.0M Reduce -1.3%
PTC PTC Inc. 0.04% 97,745 $18.0M Reduce -1.5%
ROK Rockwell Automation Inc. 0.04% 62,471 $17.9M New
MPWR Monolithic Power Systems Inc. 0.04% 28,450 $16.8M Add +24.8%
CDNS Cadence Design SYS Inc. 0.04% 54,099 $16.3M Reduce -0.8%
NET Cloudflare Inc. Class A 0.03% 137,143 $14.8M Reduce -0.9%
MBB iShares MBS ETF 0.03% 155,000 $14.2M Reduce -33.4%
PCOR Procore Technologies Inc. 0.03% 160,761 $12.0M Reduce -2.9%
CTAS Cintas Corp. 0.03% 63,373 $11.6M Reduce -1.3%
NTRA Natera Inc. 0.00% 10,331 $1.6M Add +11.8%
ARES Ares Management Corp. Class A 0.00% 7,730 $1.4M Add +7.9%
BSX Boston Scientific Corp. 0.00% 14,861 $1.3M Add +0.7%
ISRG Intuitive Surgical Inc. 0.00% 2,318 $1.2M Add +8.7%
CMG Chipotle Mexican Grill Inc. 0.00% 19,076 $1.2M Add +14.0%
NFLX Netflix Inc. 0.00% 1,234 $1.1M Add +8.7%
AMD Advanced Micro Devices 0.00% 8,633 $1.0M Add +42.5%
ADBE Adobe Inc. 0.00% 2,108 $937K Reduce -6.7%
CSGP Costar Group Inc. 0.00% 12,009 $860K Reduce -94.8%
DASH DoorDash Inc. Class A 0.00% 4,757 $798K New
EXAS Exact Sciences Corp. 0.00% 10,578 $594K New

Portfolio Sells Q3 2024 → Q4 2024
ORCL Oracle Corp. Reduce -51.9% 1.27% −1.31
SYY Sysco Corp. Reduce -75.7% 0.35% −1.04
MDLZ Mondelez International Inc. Class A Sold out 0.00% −1.04
CME Cme Group Inc. Reduce -83.8% 0.19% −0.87
CRM Salesforce Inc. Reduce -40.6% 2.40% −0.76
O Realty Income Corp. Reduce -7.2% 2.69% −0.60
BALL Ball Corp. Reduce -6.0% 2.31% −0.58
DHI D.R. Horton Inc. Reduce -4.8% 1.27% −0.47
SHW The Sherwin-Williams Co. Reduce -17.6% 1.51% −0.45
CI The Cigna Group Reduce -4.2% 1.72% −0.43
NVDA Nvidia Corp. Reduce -20.6% 4.84% −0.43
MRSH Marsh & McLennan Cos Reduce -16.5% 1.68% −0.34
LIN Linde PLC Reduce -6.5% 2.01% −0.33
FIS Fidelity National Info Serv Reduce -52.2% 0.25% −0.27
ICE Intercontinental Exchange Inc. Reduce -7.2% 2.41% −0.26
VZ Verizon Communications Inc. Reduce -8.5% 1.48% −0.25
GWRE Guidewire Software Inc. Reduce -54.5% 0.19% −0.24
EFX Equifax Inc. Reduce -5.7% 1.10% −0.19
NTR Nutrien Ltd. Sold out 0.00% −0.16
DIS The Walt Disney Co. Sold out 0.00% −0.16
BIIB Biogen Inc. Sold out 0.00% −0.15
SPGI S&P Global Inc. Reduce -5.5% 2.46% −0.12
AVTR Avantor Inc. Sold out 0.00% −0.12
PG The Procter & Gamble Co. Reduce -7.8% 1.30% −0.09
PGR Progressive Corp. Reduce -25.5% 0.24% −0.09
MSFT Microsoft Corp. Reduce -3.8% 5.60% −0.08
SNPS Synopsys Inc. Reduce -5.6% 1.27% −0.07
ARE Alexandria Real Estate Equit Sold out 0.00% −0.07
ALGN Align Technology Inc. Reduce -16.8% 0.15% −0.06
SYK Stryker Corp. Reduce -6.8% 1.57% −0.04
TRU Transunion Reduce -6.5% 0.24% −0.04
CSGP Costar Group Inc. Reduce -94.8% 0.00% −0.04
INTC Intel Corp. Reduce -16.4% 0.10% −0.03
HOLX Hologic Inc. Reduce -9.0% 0.17% −0.03
IQV Iqvia Holdings Inc. Reduce -5.2% 0.15% −0.03
CBOE Cboe Global Markets Inc. Reduce -9.9% 0.22% −0.02
OTIS Otis Worldwide Corp. Reduce -6.3% 0.16% −0.02
AZO AutoZone Inc. Reduce -7.0% 1.98% −0.02
A Agilent Technologies Inc. Reduce -0.2% 0.34% −0.02
ROP Roper Technologies Inc. Reduce -6.3% 0.21% −0.02
MBB iShares MBS ETF Reduce -33.4% 0.03% −0.02
INTU Intuit Inc. Reduce -6.4% 1.56% −0.01
GPN Global Payments Inc. Reduce -16.2% 0.27% −0.01
MTD Mettler-Toledo International Reduce -1.3% 0.05% −0.01
IDXX Idexx Laboratories Inc. Reduce -1.3% 0.04% −0.01
ROST Ross Stores Inc. Reduce -6.5% 0.46% −0.01
RSG Republic Services Inc. Reduce -8.0% 0.19% −0.01
DE Deere & Co. Reduce -6.0% 3.25% −0.00
RGEN Repligen Corp. Reduce -4.0% 0.12% −0.00
TTD Trade Desk Inc./the Class A Reduce -12.0% 0.23% −0.00

Portfolio Buys Q3 2024 → Q4 2024
VRTX Vertex Pharmaceuticals Inc. New 1.62% +1.62
LLY Eli Lilly & Co. Add +38959.8% 1.60% +1.60
FERG Ferguson Enterprises Inc. Add +944.4% 1.36% +1.22
WDAY Workday Inc. Class A Add +562.2% 1.40% +1.21
KLAC KLA Corp. Add +381.3% 1.03% +0.78
WM Waste Management Inc. Add +22.5% 2.81% +0.56
DHR Danaher Corp. Add +31.8% 1.58% +0.19
ABNB Airbnb Inc. Class A Add +8324.9% 0.19% +0.19
V Visa Inc. Class A Add +2622.9% 0.18% +0.18
AZN Astrazeneca PLC-Spons ADR Add +15819.8% 0.17% +0.17
TMO Thermo Fisher Scientific Inc. Add +25.1% 1.63% +0.15
NVO Novo-Nordisk A/S-Spons ADR New 0.11% +0.11
TEAM Atlassian Corp. Class A Add +1.3% 0.18% +0.07
XYZ Block Inc. New 0.06% +0.06
BEPC Brookfield Renewable Corp. Add +46.6% 0.24% +0.06
WDC Western Digital Corp. Add +24.5% 0.39% +0.05
SCHW Schwab (charles) Corp. Add +0.0% 0.28% +0.05
POOL Pool Corp. Add +33.9% 0.21% +0.04
ROK Rockwell Automation Inc. New 0.04% +0.04
TSM Taiwan Semiconductor-SP ADR Add +0.2% 0.21% +0.03
TFC Truist Financial Corp. Add +8.9% 0.21% +0.03
XYL Xylem Inc. Add +29.7% 0.19% +0.03
JBHT Hunt (jb) Transprt SVCS Inc. Add +4.9% 0.30% +0.02
LRCX Lam Research Corp. Add +27.9% 0.14% +0.02
DDOG Datadog Inc. Class A Add +1.5% 0.06% +0.01
ODFL Old Dominion Freight Line Add +13.4% 0.20% +0.01
WST West Pharmaceutical Services Add +7.0% 0.05% +0.01
BIO Bio-Rad Laboratories-A Add +0.0% 0.23% +0.01
NICE Nice Ltd. - Spon ADR Add +0.1% 0.20% +0.00
TER Teradyne Inc. Add +8.4% 0.07% +0.00
UNH Unitedhealth Group Inc. Add +11.5% 0.24% +0.00
DASH DoorDash Inc. Class A New 0.00% +0.00
EXAS Exact Sciences Corp. New 0.00% +0.00
NTRA Natera Inc. Add +11.8% 0.00% +0.00
ARES Ares Management Corp. Class A Add +7.9% 0.00% +0.00
NFLX Netflix Inc. Add +8.7% 0.00% +0.00
CMG Chipotle Mexican Grill Inc. Add +14.0% 0.00% +0.00
ISRG Intuitive Surgical Inc. Add +8.7% 0.00% +0.00
MELI MercadoLibre Inc. Add +16.1% 0.07% +0.00
BSX Boston Scientific Corp. Add +0.7% 0.00% +0.00
AMD Advanced Micro Devices Add +42.5% 0.00% +0.00
MPWR Monolithic Power Systems Inc. Add +24.8% 0.04% −0.01
UNP Union Pacific Corp. Add +0.0% 0.24% −0.01
CMCSA Comcast Corp. Class A Add +0.1% 0.16% −0.01
PFE Pfizer Inc. Add +0.1% 0.26% −0.01
MU Micron Technology Inc. Add +0.0% 0.20% −0.03
BAX Baxter International Inc. Add +0.1% 0.14% −0.04
AMAT Applied Materials Inc. Add +4.7% 1.30% −0.17

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 135$37.4BGOOGL, AMAT, MSFT, NVDA, AMZN
Q1 2026 135$34.1BGOOGL, NVDA, MSFT, AMZN, AAPL
Q4 2025 138$38.6BMSFT, GOOGL, AMZN, NVDA, AAPL
Q3 2025 147$43.3BMSFT, NVDA, GOOGL, AMZN, DE
Q2 2025 148$43.4BMSFT, NVDA, AMZN, GOOGL, DE
Q1 2025 135$41.6BMSFT, AMZN, NVDA, DE, GOOGL
Q4 2024 126$45.0BMSFT, AMZN, NVDA, GOOGL, DE
Q3 2024 126$47.1BMSFT, NVDA, AMZN, GOOGL, O
Q2 2024 129$45.9BMSFT, GOOGL, NVDA, AAPL, CRM
Q1 2024 135$46.8BMSFT, GOOGL, NVDA, CRM, BAC