Parnassus Investments, LLC

Name: PARNASSUS INVESTMENTS, LLC 13F holdings, Q2 2025
Creator: PARNASSUS INVESTMENTS, LLC
Published: 2025-08-06

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 6, 2025), Parnassus Investments, LLC reported 148 stock positions worth $43.4 billion. Its top holding was Microsoft (MSFT) at 6.0% of the portfolio, followed by Nvidia (NVDA, 5.3%) and Amazon.com (AMZN, 5.2%). Compared with Q1 2025, it opened 22 new positions, sold out of 9, added to 31 and reduced 95. The biggest buy was Nvidia (NVDA, shares +0%) and the biggest sale Cigna (CI, shares −90%).

Most Recent 13F: Q2 2026
Location: San Francisco, CA
CIK: 0000948669
Portfolio Value: $43.4B (Q2 2025)
SEC Filing: 0001172661-25-002910 ↗ filed Aug 6, 2025

Holdings Value

Holdings 148 stocks · $43.4B


MSFT Microsoft Corp.	6.02%	5,243,567	$2.6B	Reduce -18.7%
NVDA Nvidia Corp.	5.25%	14,409,647	$2.3B	Add +0.2%
AMZN Amazon.com Inc.	5.24%	10,348,666	$2.3B	Add +0.9%
GOOGL Alphabet Inc. Class A	4.02%	9,894,598	$1.7B	Add +2.4%
DE Deere & Co.	3.67%	3,129,594	$1.6B	Reduce -2.4%
WM Waste Management Inc.	3.02%	5,712,714	$1.3B	Reduce -3.6%
AVGO Broadcom Inc.	2.88%	4,537,606	$1.3B	Reduce -4.8%
DHR Danaher Corp.	2.88%	6,317,534	$1.2B	Add +65.0%
ICE Intercontinental Exchange Inc.	2.81%	6,629,807	$1.2B	Reduce -3.7%
MA Mastercard Inc. Class A	2.77%	2,138,691	$1.2B	Reduce -3.9%
SPGI S&P Global Inc.	2.48%	2,036,677	$1.1B	Reduce -3.3%
O Realty Income Corp.	2.44%	18,386,115	$1.1B	Reduce -3.4%
LIN Linde PLC	2.32%	2,142,263	$1.0B	Add +4.5%
AZO AutoZone Inc.	2.16%	252,155	$936.1M	Reduce -3.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP	2.13%	19,491,310	$922.3M	Reduce -3.9%
INTU Intuit Inc.	2.06%	1,134,238	$893.4M	Reduce -3.0%
TMO Thermo Fisher Scientific Inc.	2.02%	2,165,258	$877.9M	Add +52.4%
BRO Brown & Brown Inc.	1.79%	7,017,120	$778.0M	Reduce -2.9%
VRTX Vertex Pharmaceuticals Inc.	1.76%	1,711,440	$761.9M	Reduce -3.5%
SNPS Synopsys Inc.	1.75%	1,481,292	$759.4M	Add +8.7%
AAPL Apple Inc.	1.71%	3,607,907	$740.2M	Reduce -3.3%
FISV Fiserv Inc.	1.67%	4,203,673	$724.8M	Reduce -2.5%
SYK Stryker Corp.	1.63%	1,787,988	$707.4M	Reduce -2.6%
FERG Ferguson Enterprises Inc.	1.58%	3,142,599	$684.3M	Reduce -3.7%
WDAY Workday Inc. Class A	1.58%	2,845,644	$683.0M	Reduce -5.0%
CRM Salesforce Inc.	1.56%	2,474,812	$674.9M	Reduce -1.1%
BALL Ball Corp.	1.53%	11,835,650	$663.9M	Reduce -23.9%
LLY Eli Lilly & Co.	1.52%	847,576	$660.7M	Reduce -4.0%
NOW ServiceNow Inc.	1.51%	636,994	$654.9M	Reduce -2.4%
AMAT Applied Materials Inc.	1.41%	3,338,954	$611.3M	Reduce -1.9%
ORCL Oracle Corp.	1.40%	2,783,475	$608.6M	Reduce -1.8%
KLAC KLA Corp.	1.35%	655,060	$586.8M	Reduce -2.3%
MRSH Marsh & McLennan Cos	1.34%	2,659,484	$581.5M	Reduce -4.9%
AMD Advanced Micro Devices	1.31%	3,991,057	$566.3M	Reduce -3.6%
MAR Marriott International Class A	1.23%	1,953,962	$533.8M	Reduce -3.4%
PG The Procter & Gamble Co.	1.17%	3,196,389	$509.2M	Reduce -5.7%
EFX Equifax Inc.	1.06%	1,779,843	$461.6M	Reduce -3.1%
SHW The Sherwin-Williams Co.	1.01%	1,269,300	$435.8M	Reduce -4.8%
COST Costco Wholesale Corp.	0.99%	434,151	$429.8M	Reduce -14.4%
VRSK Verisk Analytics Inc.	0.81%	1,132,296	$352.7M	Reduce -3.0%
CBRE CBRE Group Inc. Class A	0.58%	1,789,527	$250.7M	Reduce -2.5%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP	0.54%	2,547,421	$232.1M	Reduce -3.8%
BEPC Brookfield Renewable Corp.	0.40%	5,263,087	$172.5M	Add +8.4%
DHI D.R. Horton Inc.	0.38%	1,292,047	$166.6M	Reduce -0.7%
JPM JPMorgan Chase & Co.	0.35%	519,146	$150.5M	Add +38.9%
VZ Verizon Communications Inc.	0.28%	2,805,084	$121.4M	Reduce -15.1%
SCHW Schwab (charles) Corp.	0.28%	1,306,604	$119.2M	Reduce -0.1%
SYY Sysco Corp.	0.27%	1,564,203	$118.5M	Reduce -23.4%
CMI Cummins Inc.	0.26%	342,038	$112.0M	Reduce -2.5%
UNP Union Pacific Corp.	0.26%	484,149	$111.4M	Add +0.1%
PGR Progressive Corp.	0.24%	392,685	$104.8M	Reduce -4.6%
WTW Willis Towers Watson PLC	0.24%	341,414	$104.6M	New
TSM Taiwan Semiconductor-SP ADR	0.24%	457,244	$103.6M	Reduce -6.2%
FIS Fidelity National Info Serv	0.23%	1,234,774	$100.5M	Reduce -6.1%
ADSK Autodesk Inc.	0.22%	314,702	$97.4M	Reduce -5.6%
BR Broadridge Financial Solutio	0.22%	392,798	$95.5M	Reduce -10.4%
JBHT Hunt (jb) Transprt SVCS Inc.	0.22%	663,090	$95.2M	Reduce -11.4%
CI The Cigna Group	0.22%	285,917	$94.5M	Reduce -90.1%
V Visa Inc. Class A	0.22%	266,080	$94.5M	Reduce -1.8%
ABNB Airbnb Inc. Class A	0.21%	699,766	$92.6M	Reduce -1.0%
WDC Western Digital Corp.	0.21%	1,437,621	$92.0M	Reduce -43.7%
AZN Astrazeneca PLC-Spons ADR	0.21%	1,286,979	$89.9M	Add +5.1%
TRU Transunion	0.20%	1,006,054	$88.5M	Reduce -6.5%
FDX FedEx Corp.	0.20%	384,194	$87.3M	Add +4.0%
C Citigroup Inc.	0.20%	1,021,369	$86.9M	Reduce -18.4%
RSG Republic Services Inc.	0.20%	352,433	$86.9M	Reduce -12.7%
CME Cme Group Inc.	0.20%	314,138	$86.6M	Reduce -0.6%
CBOE Cboe Global Markets Inc.	0.19%	356,111	$83.0M	Reduce -12.8%
HLT Hilton Worldwide Holdings Inc.	0.19%	311,242	$82.9M	Add +26.3%
ALC Alcon Inc. filed as ALCON AG	0.19%	916,801	$80.9M	New
A Agilent Technologies Inc.	0.18%	674,048	$79.5M	Reduce -57.3%
NICE Nice Ltd. - Spon ADR	0.18%	466,429	$78.8M	Reduce -15.3%
BIO Bio-Rad Laboratories-A	0.18%	317,218	$76.6M	Reduce -0.3%
ARES Ares Management Corp. Class A	0.17%	422,328	$73.1M	Add +400.8%
CMCSA Comcast Corp. Class A	0.16%	1,989,492	$71.0M	Add +3.3%
LRCX Lam Research Corp.	0.16%	728,028	$70.9M	Reduce -5.8%
USFD US Foods Holding Corp.	0.16%	910,863	$70.1M	Reduce -7.1%
NVO Novo-Nordisk A/S-Spons ADR	0.16%	1,011,546	$69.8M	Add +9.2%
ODFL Old Dominion Freight Line	0.16%	418,252	$67.9M	Reduce -11.6%
HUBB Hubbell Inc.	0.15%	163,487	$66.8M	Reduce -5.8%
MU Micron Technology Inc.	0.15%	535,860	$66.0M	Reduce -45.2%
WRB WR Berkley Corp. filed as BERKLEY W R CORP	0.15%	894,317	$65.7M	Reduce -8.6%
UNH Unitedhealth Group Inc.	0.15%	208,616	$65.1M	Reduce -5.5%
XYL Xylem Inc.	0.15%	501,727	$64.9M	Reduce -26.6%
TFC Truist Financial Corp.	0.15%	1,476,432	$63.5M	Reduce -25.5%
ORLY O'reilly Automotive Inc.	0.14%	689,413	$62.1M	Reduce -29.9%
TEAM Atlassian Corp. Class A	0.14%	304,117	$61.8M	Add +19.1%
POOL Pool Corp.	0.13%	197,711	$57.6M	Reduce -6.4%
ROP Roper Technologies Inc.	0.13%	97,083	$55.0M	Reduce -6.8%
GWRE Guidewire Software Inc.	0.13%	231,191	$54.4M	Reduce -37.2%
REGN Regeneron Pharmaceuticals	0.12%	101,084	$53.1M	New
CSGP Costar Group Inc.	0.12%	655,398	$52.7M	New
VMC Vulcan Materials Co.	0.12%	197,796	$51.6M	New
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC	0.11%	647,351	$46.6M	Reduce -56.8%
SNDK Sandisk Corp.	0.11%	1,019,161	$46.2M	Add +35.6%
ALL Allstate Corp.	0.11%	227,045	$45.7M	Reduce -46.0%
WMT Walmart Inc.	0.11%	466,056	$45.6M	New
PNR Pentair PLC	0.10%	443,547	$45.5M	Reduce -6.6%
INTC Intel Corp.	0.10%	1,956,351	$43.8M	Add +8.0%
CPRT Copart Inc.	0.10%	881,799	$43.3M	Add +16.2%
IQV Iqvia Holdings Inc.	0.08%	207,331	$32.7M	Reduce -32.7%
MELI MercadoLibre Inc.	0.06%	10,094	$26.4M	Reduce -23.4%
NET Cloudflare Inc. Class A	0.06%	130,564	$25.6M	Reduce -2.7%
DDOG Datadog Inc. Class A	0.06%	182,571	$24.5M	Reduce -3.0%
CMG Chipotle Mexican Grill Inc.	0.05%	385,137	$21.6M	Add +88.6%
TER Teradyne Inc.	0.05%	232,935	$20.9M	Reduce -3.8%
MPWR Monolithic Power Systems Inc.	0.05%	27,712	$20.3M	Reduce -2.6%
ROK Rockwell Automation Inc.	0.05%	60,824	$20.2M	Reduce -2.6%
PTC PTC Inc.	0.04%	110,154	$19.0M	Reduce -3.2%
RCL Royal Caribbean Cruises Ltd.	0.04%	60,358	$18.9M	New
TT Trane Technologies PLC	0.04%	42,208	$18.5M	Reduce -3.0%
IDXX Idexx Laboratories Inc.	0.04%	33,237	$17.8M	Reduce -9.3%
HOOD Robinhood Markets Inc. Class A	0.04%	187,827	$17.6M	Reduce -47.8%
SARO Standardaero Inc.	0.04%	515,929	$16.3M	New
MTD Mettler-Toledo International	0.04%	13,685	$16.1M	Reduce -22.3%
CDNS Cadence Design SYS Inc.	0.04%	51,321	$15.8M	Reduce -5.1%
WST West Pharmaceutical Services	0.03%	69,248	$15.2M	Add +10.8%
BLDR Builders Firstsource Inc.	0.03%	127,693	$14.9M	Add +18.3%
BILL Bill Holdings Inc.	0.03%	310,646	$14.4M	Reduce -6.9%
MORN Morningstar Inc.	0.03%	42,955	$13.5M	Reduce -20.8%
MSCI MSCI Inc.	0.03%	21,982	$12.7M	Reduce -21.7%
ALNY Alnylam Pharmaceuticals Inc.	0.03%	37,412	$12.2M	New
NTRA Natera Inc.	0.03%	69,647	$11.8M	Add +16.3%
PCOR Procore Technologies Inc.	0.02%	142,822	$9.8M	Reduce -2.9%
SN Sharkninja Inc.	0.02%	84,343	$8.3M	Add +1128.6%
XYZ Block Inc.	0.02%	121,910	$8.3M	Reduce -61.6%
APP AppLovin Corp. Class A	0.02%	22,845	$8.0M	Reduce -66.6%
ICLR Icon PLC	0.02%	53,539	$7.8M	Reduce -0.7%
NFLX Netflix Inc.	0.00%	1,300	$1.7M	Add +5.1%
BSX Boston Scientific Corp.	0.00%	15,981	$1.7M	Add +6.1%
APPF Appfolio Inc. Class A	0.00%	6,858	$1.6M	Add +17.0%
DASH DoorDash Inc. Class A	0.00%	6,028	$1.5M	Add +26.7%
ISRG Intuitive Surgical Inc.	0.00%	2,712	$1.5M	Add +17.4%
GEV GE Vernova Inc.	0.00%	2,634	$1.4M	Reduce -15.1%
ASML ASML Holding NV-NY Reg SHS	0.00%	1,399	$1.1M	Add +2.3%
INSM Insmed Inc.	0.00%	7,930	$798K	New
SE Sea Ltd.-ADR	0.00%	2,569	$411K	New
SAP Sap SE-Sponsored ADR	0.00%	1,113	$338K	New
SPOT Spotify Technology SA	0.00%	405	$311K	New
RELX Relx PLC - Spon ADR	0.00%	5,207	$283K	New
BKNG Booking Holdings Inc.	0.00%	45	$261K	New
AER Aercap Holdings NV	0.00%	2,118	$248K	New
CNH CNH Industrial NV	0.00%	18,511	$240K	New
YMM Full Truck Alliance -SPN ADR	0.00%	19,214	$227K	New
CRH CRH PLC	0.00%	2,370	$218K	New
WCN Waste Connections Inc.	0.00%	1,130	$211K	New
ACGL Arch Capital Group Ltd.	0.00%	2,317	$211K	New
SNY Sanofi-ADR	0.00%	4,189	$202K	New

Portfolio Sells Q1 2025 → Q2 2025


CI The Cigna Group	Reduce -90.1%	0.22%	−2.06
FISV Fiserv Inc.	Reduce -2.5%	1.67%	−0.62
BALL Ball Corp.	Reduce -23.9%	1.53%	−0.42
BRO Brown & Brown Inc.	Reduce -2.9%	1.79%	−0.37
VRTX Vertex Pharmaceuticals Inc.	Reduce -3.5%	1.76%	−0.31
MRSH Marsh & McLennan Cos	Reduce -4.9%	1.34%	−0.30
AAPL Apple Inc.	Reduce -3.3%	1.71%	−0.28
WM Waste Management Inc.	Reduce -3.6%	3.02%	−0.28
PFE Pfizer Inc.	Sold out	0.00%	−0.27
SPG Simon Property Group Inc.	Sold out	0.00%	−0.27
A Agilent Technologies Inc.	Reduce -57.3%	0.18%	−0.26
GPN Global Payments Inc.	Sold out	0.00%	−0.26
AZO AutoZone Inc.	Reduce -3.3%	2.16%	−0.23
LLY Eli Lilly & Co.	Reduce -4.0%	1.52%	−0.23
PG The Procter & Gamble Co.	Reduce -5.7%	1.17%	−0.21
O Realty Income Corp.	Reduce -3.4%	2.44%	−0.21
BAX Baxter International Inc.	Sold out	0.00%	−0.19
GILD Gilead Sciences Inc.	Sold out	0.00%	−0.17
COST Costco Wholesale Corp.	Reduce -14.4%	0.99%	−0.16
MA Mastercard Inc. Class A	Reduce -3.9%	2.77%	−0.16
UNH Unitedhealth Group Inc.	Reduce -5.5%	0.15%	−0.13
SHW The Sherwin-Williams Co.	Reduce -4.8%	1.01%	−0.11
HOLX Hologic Inc.	Sold out	0.00%	−0.11
WDAY Workday Inc. Class A	Reduce -5.0%	1.58%	−0.11
ALL Allstate Corp.	Reduce -46.0%	0.11%	−0.10
SYY Sysco Corp.	Reduce -23.4%	0.27%	−0.10
FTNT Fortinet Inc.	Sold out	0.00%	−0.09
SPGI S&P Global Inc.	Reduce -3.3%	2.48%	−0.09
TTD Trade Desk Inc./the Class A	Reduce -56.8%	0.11%	−0.09
KEY Keycorp	Sold out	0.00%	−0.09
ORLY O'reilly Automotive Inc.	Reduce -29.9%	0.14%	−0.08
VZ Verizon Communications Inc.	Reduce -15.1%	0.28%	−0.08
RGEN Repligen Corp.	Sold out	0.00%	−0.08
CRM Salesforce Inc.	Reduce -1.1%	1.56%	−0.06
IQV Iqvia Holdings Inc.	Reduce -32.7%	0.08%	−0.06
MU Micron Technology Inc.	Reduce -45.2%	0.15%	−0.05
TFC Truist Financial Corp.	Reduce -25.5%	0.15%	−0.05
ICE Intercontinental Exchange Inc.	Reduce -3.7%	2.81%	−0.05
XYL Xylem Inc.	Reduce -26.6%	0.15%	−0.05
JBHT Hunt (jb) Transprt SVCS Inc.	Reduce -11.4%	0.22%	−0.05
GWRE Guidewire Software Inc.	Reduce -37.2%	0.13%	−0.04
PGR Progressive Corp.	Reduce -4.6%	0.24%	−0.04
WDC Western Digital Corp.	Reduce -43.7%	0.21%	−0.04
BR Broadridge Financial Solutio	Reduce -10.4%	0.22%	−0.04
RSG Republic Services Inc.	Reduce -12.7%	0.20%	−0.03
ODFL Old Dominion Freight Line	Reduce -11.6%	0.16%	−0.03
CBOE Cboe Global Markets Inc.	Reduce -12.8%	0.19%	−0.03
POOL Pool Corp.	Reduce -6.4%	0.13%	−0.03
APP AppLovin Corp. Class A	Reduce -66.6%	0.02%	−0.03
XYZ Block Inc.	Reduce -61.6%	0.02%	−0.02

Portfolio Buys Q1 2025 → Q2 2025


NVDA Nvidia Corp.	Add +0.2%	5.25%	+1.51
DHR Danaher Corp.	Add +65.0%	2.88%	+0.99
AMZN Amazon.com Inc.	Add +0.9%	5.24%	+0.55
GOOGL Alphabet Inc. Class A	Add +2.4%	4.02%	+0.43
SNPS Synopsys Inc.	Add +8.7%	1.75%	+0.35
TMO Thermo Fisher Scientific Inc.	Add +52.4%	2.02%	+0.33
WTW Willis Towers Watson PLC	New	0.24%	+0.24
ALC Alcon Inc.	New	0.19%	+0.19
ARES Ares Management Corp. Class A	Add +400.8%	0.17%	+0.14
JPM JPMorgan Chase & Co.	Add +38.9%	0.35%	+0.13
REGN Regeneron Pharmaceuticals	New	0.12%	+0.12
CSGP Costar Group Inc.	New	0.12%	+0.12
VMC Vulcan Materials Co.	New	0.12%	+0.12
WMT Walmart Inc.	New	0.11%	+0.11
BEPC Brookfield Renewable Corp.	Add +8.4%	0.40%	+0.07
HLT Hilton Worldwide Holdings Inc.	Add +26.3%	0.19%	+0.06
RCL Royal Caribbean Cruises Ltd.	New	0.04%	+0.04
SARO Standardaero Inc.	New	0.04%	+0.04
ALNY Alnylam Pharmaceuticals Inc.	New	0.03%	+0.03
CMG Chipotle Mexican Grill Inc.	Add +88.6%	0.05%	+0.03
LIN Linde PLC	Add +4.5%	2.32%	+0.03
SNDK Sandisk Corp.	Add +35.6%	0.11%	+0.02
SN Sharkninja Inc.	Add +1128.6%	0.02%	+0.02
TEAM Atlassian Corp. Class A	Add +19.1%	0.14%	+0.01
NTRA Natera Inc.	Add +16.3%	0.03%	+0.01
NVO Novo-Nordisk A/S-Spons ADR	Add +9.2%	0.16%	+0.01
INTC Intel Corp.	Add +8.0%	0.10%	+0.00
BLDR Builders Firstsource Inc.	Add +18.3%	0.03%	+0.00
INSM Insmed Inc.	New	0.00%	+0.00
DASH DoorDash Inc. Class A	Add +26.7%	0.00%	+0.00
WST West Pharmaceutical Services	Add +10.8%	0.03%	+0.00
NFLX Netflix Inc.	Add +5.1%	0.00%	+0.00
SE Sea Ltd.-ADR	New	0.00%	+0.00
SAP Sap SE-Sponsored ADR	New	0.00%	+0.00
ISRG Intuitive Surgical Inc.	Add +17.4%	0.00%	+0.00
RELX Relx PLC - Spon ADR	New	0.00%	+0.00
SPOT Spotify Technology SA	New	0.00%	+0.00
BKNG Booking Holdings Inc.	New	0.00%	+0.00
AER Aercap Holdings NV	New	0.00%	+0.00
CNH CNH Industrial NV	New	0.00%	+0.00
APPF Appfolio Inc. Class A	Add +17.0%	0.00%	+0.00
YMM Full Truck Alliance -SPN ADR	New	0.00%	+0.00
SNY Sanofi-ADR	New	0.00%	+0.00
WCN Waste Connections Inc.	New	0.00%	+0.00
ACGL Arch Capital Group Ltd.	New	0.00%	+0.00
CRH CRH PLC	New	0.00%	+0.00
ASML ASML Holding NV-NY Reg SHS	Add +2.3%	0.00%	+0.00
BSX Boston Scientific Corp.	Add +6.1%	0.00%	+0.00
CPRT Copart Inc.	Add +16.2%	0.10%	−0.00
CMCSA Comcast Corp. Class A	Add +3.3%	0.16%	−0.01

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	135	$37.4B	GOOGL, AMAT, MSFT, NVDA, AMZN
Q1 2026	135	$34.1B	GOOGL, NVDA, MSFT, AMZN, AAPL
Q4 2025	138	$38.6B	MSFT, GOOGL, AMZN, NVDA, AAPL
Q3 2025	147	$43.3B	MSFT, NVDA, GOOGL, AMZN, DE
Q2 2025	148	$43.4B	MSFT, NVDA, AMZN, GOOGL, DE
Q1 2025	135	$41.6B	MSFT, AMZN, NVDA, DE, GOOGL
Q4 2024	126	$45.0B	MSFT, AMZN, NVDA, GOOGL, DE
Q3 2024	126	$47.1B	MSFT, NVDA, AMZN, GOOGL, O
Q2 2024	129	$45.9B	MSFT, GOOGL, NVDA, AAPL, CRM
Q1 2024	135	$46.8B	MSFT, GOOGL, NVDA, CRM, BAC