Parnassus Investments, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 24, 2025), Parnassus Investments, LLC reported 147 stock positions worth $43.3 billion. Its top holding was Microsoft (MSFT) at 5.6% of the portfolio, followed by Nvidia (NVDA, 5.3%) and Alphabet Class A (GOOGL, 5.1%). Compared with Q2 2025, it opened 7 new positions, sold out of 8, added to 46 and reduced 94. The biggest buy was a new position in WW Grainger (GWW) and the biggest sale an exit from Intuit (INTU).
- Most Recent 13F
- Q2 2026
- Location
- San Francisco, CA
- CIK
- 0000948669
- Portfolio Value
- $43.3B (Q3 2025)
- SEC Filing
- 0001172661-25-004416 ↗ filed Oct 24, 2025
Holdings Value
Holdings 147 stocks · $43.3B
| MSFT Microsoft Corp. | 5.62% | 4,690,425 | $2.4B | Reduce -10.6% |
| NVDA Nvidia Corp. | 5.34% | 12,386,339 | $2.3B | Reduce -14.0% |
| GOOGL Alphabet Inc. Class A | 5.14% | 9,140,511 | $2.2B | Reduce -7.6% |
| AMZN Amazon.com Inc. | 5.06% | 9,970,124 | $2.2B | Reduce -3.7% |
| DE Deere & Co. | 3.27% | 3,093,334 | $1.4B | Reduce -1.2% |
| WM Waste Management Inc. | 2.87% | 5,613,315 | $1.2B | Reduce -1.7% |
| DHR Danaher Corp. | 2.83% | 6,171,104 | $1.2B | Reduce -2.3% |
| MA Mastercard Inc. Class A | 2.79% | 2,123,059 | $1.2B | Reduce -0.7% |
| O Realty Income Corp. | 2.54% | 18,066,603 | $1.1B | Reduce -1.7% |
| ICE Intercontinental Exchange Inc. | 2.53% | 6,496,975 | $1.1B | Reduce -2.0% |
| AZO AutoZone Inc. | 2.49% | 250,941 | $1.1B | Reduce -0.5% |
| TMO Thermo Fisher Scientific Inc. | 2.35% | 2,093,621 | $1.0B | Reduce -3.3% |
| LIN Linde PLC | 2.30% | 2,096,785 | $996.0M | Reduce -2.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 2.30% | 19,258,627 | $993.6M | Reduce -1.2% |
| SPGI S&P Global Inc. | 2.29% | 2,032,254 | $989.1M | Reduce -0.2% |
| AAPL Apple Inc. | 2.08% | 3,530,850 | $899.1M | Reduce -2.1% |
| CRM Salesforce Inc. | 2.01% | 3,678,073 | $871.7M | Add +48.6% |
| AVGO Broadcom Inc. | 1.92% | 2,518,191 | $830.8M | Reduce -44.5% |
| KLAC KLA Corp. | 1.80% | 720,458 | $777.1M | Add +10.0% |
| WDAY Workday Inc. Class A | 1.79% | 3,217,205 | $774.5M | Add +13.1% |
| AMAT Applied Materials Inc. | 1.78% | 3,761,185 | $770.1M | Add +12.7% |
| SNPS Synopsys Inc. | 1.70% | 1,486,955 | $733.6M | Add +0.4% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 1.67% | 756,802 | $721.2M | New |
| FERG Ferguson Enterprises Inc. | 1.57% | 3,025,659 | $679.5M | Reduce -3.7% |
| ORCL Oracle Corp. | 1.56% | 2,400,432 | $675.1M | Reduce -13.8% |
| BSX Boston Scientific Corp. | 1.55% | 6,884,440 | $672.1M | Add +42978.9% |
| VRTX Vertex Pharmaceuticals Inc. | 1.49% | 1,648,433 | $645.6M | Reduce -3.7% |
| BRO Brown & Brown Inc. | 1.48% | 6,834,855 | $641.0M | Reduce -2.6% |
| NOW ServiceNow Inc. | 1.36% | 638,266 | $587.4M | Add +0.2% |
| SYK Stryker Corp. | 1.35% | 1,581,516 | $584.6M | Reduce -11.6% |
| FISV Fiserv Inc. | 1.22% | 4,107,648 | $529.6M | Reduce -2.3% |
| MRSH Marsh & McLennan Cos | 1.20% | 2,586,704 | $521.3M | Reduce -2.7% |
| PG The Procter & Gamble Co. | 1.13% | 3,169,419 | $487.0M | Reduce -0.8% |
| MAR Marriott International Class A | 1.12% | 1,854,516 | $483.0M | Reduce -5.1% |
| LLY Eli Lilly & Co. | 1.11% | 628,280 | $479.4M | Reduce -25.9% |
| AMD Advanced Micro Devices | 1.09% | 2,920,991 | $472.6M | Reduce -26.8% |
| EFX Equifax Inc. | 1.04% | 1,753,435 | $449.8M | Reduce -1.5% |
| SHW The Sherwin-Williams Co. | 0.99% | 1,243,059 | $430.4M | Reduce -2.1% |
| BALL Ball Corp. | 0.99% | 8,469,866 | $427.1M | Reduce -28.4% |
| COST Costco Wholesale Corp. | 0.90% | 420,438 | $389.2M | Reduce -3.2% |
| VRSK Verisk Analytics Inc. | 0.87% | 1,492,715 | $375.4M | Add +31.8% |
| CBRE CBRE Group Inc. Class A | 0.65% | 1,795,528 | $282.9M | Add +0.3% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.63% | 2,505,359 | $273.0M | Reduce -1.6% |
| BEPC Brookfield Renewable Corp. | 0.42% | 5,337,630 | $183.7M | Add +1.4% |
| JPM JPMorgan Chase & Co. | 0.38% | 523,658 | $165.2M | Add +0.9% |
| VZ Verizon Communications Inc. | 0.31% | 3,040,727 | $133.6M | Add +8.4% |
| SYY Sysco Corp. | 0.30% | 1,595,466 | $131.4M | Add +2.0% |
| SCHW Schwab (charles) Corp. | 0.30% | 1,355,531 | $129.4M | Add +3.7% |
| CMI Cummins Inc. | 0.28% | 291,491 | $123.1M | Reduce -14.8% |
| WTW Willis Towers Watson PLC | 0.28% | 352,374 | $121.7M | Add +3.2% |
| UNP Union Pacific Corp. | 0.27% | 487,922 | $115.3M | Add +0.8% |
| PGR Progressive Corp. | 0.26% | 447,075 | $110.4M | Add +13.8% |
| TSM Taiwan Semiconductor-SP ADR | 0.25% | 392,105 | $109.5M | Reduce -14.3% |
| WDC Western Digital Corp. | 0.25% | 898,860 | $107.9M | Reduce -37.5% |
| C Citigroup Inc. | 0.24% | 1,034,942 | $105.0M | Add +1.3% |
| SNDK Sandisk Corp. | 0.24% | 925,267 | $103.8M | Reduce -9.2% |
| HD Home Depot Inc. | 0.24% | 256,129 | $103.8M | New |
| AZN Astrazeneca PLC-Spons ADR | 0.23% | 1,293,004 | $99.2M | Add +0.5% |
| ADSK Autodesk Inc. | 0.22% | 304,643 | $96.8M | Reduce -3.2% |
| CI The Cigna Group | 0.22% | 327,143 | $94.3M | Add +14.4% |
| LRCX Lam Research Corp. | 0.22% | 700,715 | $93.8M | Reduce -3.8% |
| CME Cme Group Inc. | 0.22% | 346,744 | $93.7M | Add +10.4% |
| V Visa Inc. Class A | 0.22% | 274,141 | $93.6M | Add +3.0% |
| BR Broadridge Financial Solutio | 0.21% | 380,373 | $90.6M | Reduce -3.2% |
| BIO Bio-Rad Laboratories-A | 0.20% | 315,328 | $88.4M | Reduce -0.6% |
| CBOE Cboe Global Markets Inc. | 0.19% | 342,751 | $84.1M | Reduce -3.8% |
| TRU Transunion | 0.19% | 968,311 | $81.1M | Reduce -3.8% |
| HLT Hilton Worldwide Holdings Inc. | 0.18% | 302,882 | $78.6M | Reduce -2.7% |
| FIS Fidelity National Info Serv | 0.18% | 1,188,449 | $78.4M | Reduce -3.8% |
| RSG Republic Services Inc. | 0.18% | 339,211 | $77.8M | Reduce -3.8% |
| WMT Walmart Inc. | 0.17% | 705,359 | $72.7M | Add +51.4% |
| FDX FedEx Corp. | 0.17% | 307,542 | $72.5M | Reduce -19.9% |
| UNH Unitedhealth Group Inc. | 0.17% | 208,917 | $72.1M | Add +0.1% |
| ORLY O'reilly Automotive Inc. | 0.17% | 666,374 | $71.8M | Reduce -3.3% |
| XYL Xylem Inc. | 0.16% | 482,904 | $71.2M | Reduce -3.8% |
| ABT Abbott Laboratories | 0.16% | 524,454 | $70.2M | New |
| NICE Nice Ltd. - Spon ADR | 0.16% | 468,906 | $67.9M | Add +0.5% |
| USFD US Foods Holding Corp. | 0.16% | 876,691 | $67.2M | Reduce -3.8% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.15% | 860,766 | $66.0M | Reduce -3.8% |
| DHI D.R. Horton Inc. | 0.15% | 388,335 | $65.8M | Reduce -69.9% |
| ARES Ares Management Corp. Class A | 0.15% | 410,100 | $65.6M | Reduce -2.9% |
| TFC Truist Financial Corp. | 0.15% | 1,421,042 | $65.0M | Reduce -3.8% |
| CMCSA Comcast Corp. Class A | 0.15% | 2,045,409 | $64.3M | Add +2.8% |
| HUBB Hubbell Inc. | 0.14% | 140,685 | $60.5M | Reduce -13.9% |
| MU Micron Technology Inc. | 0.14% | 358,210 | $59.9M | Reduce -33.1% |
| POOL Pool Corp. | 0.14% | 191,794 | $59.5M | Reduce -3.0% |
| A Agilent Technologies Inc. | 0.14% | 460,456 | $59.1M | Reduce -31.7% |
| VMC Vulcan Materials Co. | 0.14% | 190,620 | $58.6M | Reduce -3.6% |
| REGN Regeneron Pharmaceuticals | 0.13% | 101,023 | $56.8M | Reduce -0.1% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.13% | 1,013,684 | $56.2M | Add +0.2% |
| INTC Intel Corp. | 0.13% | 1,645,123 | $55.2M | Reduce -15.9% |
| CSGP Costar Group Inc. | 0.12% | 636,974 | $53.7M | Reduce -2.8% |
| GWRE Guidewire Software Inc. | 0.12% | 225,282 | $51.8M | Reduce -2.6% |
| BILL Bill Holdings Inc. | 0.11% | 905,585 | $48.0M | Add +191.5% |
| PNR Pentair PLC | 0.11% | 426,906 | $47.3M | Reduce -3.8% |
| TEAM Atlassian Corp. Class A | 0.11% | 295,909 | $47.3M | Reduce -2.7% |
| ALL Allstate Corp. | 0.11% | 218,526 | $46.9M | Reduce -3.8% |
| ROP Roper Technologies Inc. | 0.11% | 93,440 | $46.6M | Reduce -3.8% |
| PODD Insulet Corp. | 0.11% | 150,699 | $46.5M | New |
| ALC Alcon Inc. filed as ALCON AG | 0.10% | 609,610 | $45.4M | Reduce -33.5% |
Portfolio Sells Q2 2025 → Q3 2025
| INTU Intuit Inc. | Sold out | 0.00% | −2.06 |
| AVGO Broadcom Inc. | Reduce -44.5% | 1.92% | −0.96 |
| BALL Ball Corp. | Reduce -28.4% | 0.99% | −0.54 |
| FISV Fiserv Inc. | Reduce -2.3% | 1.22% | −0.45 |
| LLY Eli Lilly & Co. | Reduce -25.9% | 1.11% | −0.42 |
| DE Deere & Co. | Reduce -1.2% | 3.27% | −0.40 |
| MSFT Microsoft Corp. | Reduce -10.6% | 5.62% | −0.40 |
| BRO Brown & Brown Inc. | Reduce -2.6% | 1.48% | −0.31 |
| SYK Stryker Corp. | Reduce -11.6% | 1.35% | −0.28 |
| ICE Intercontinental Exchange Inc. | Reduce -2.0% | 2.53% | −0.28 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -3.7% | 1.49% | −0.27 |
| DHI D.R. Horton Inc. | Reduce -69.9% | 0.15% | −0.23 |
| JBHT Hunt (jb) Transprt SVCS Inc. | Sold out | 0.00% | −0.22 |
| AMD Advanced Micro Devices | Reduce -26.8% | 1.09% | −0.21 |
| ABNB Airbnb Inc. Class A | Sold out | 0.00% | −0.21 |
| SPGI S&P Global Inc. | Reduce -0.2% | 2.29% | −0.19 |
| AMZN Amazon.com Inc. | Reduce -3.7% | 5.06% | −0.18 |
| WM Waste Management Inc. | Reduce -1.7% | 2.87% | −0.15 |
| MRSH Marsh & McLennan Cos | Reduce -2.7% | 1.20% | −0.14 |
| MAR Marriott International Class A | Reduce -5.1% | 1.12% | −0.12 |
| TTD Trade Desk Inc./the Class A | Sold out | 0.00% | −0.11 |
| CPRT Copart Inc. | Sold out | 0.00% | −0.10 |
| ODFL Old Dominion Freight Line | Reduce -57.5% | 0.06% | −0.10 |
| COST Costco Wholesale Corp. | Reduce -3.2% | 0.90% | −0.09 |
| ALC Alcon Inc. | Reduce -33.5% | 0.10% | −0.08 |
| FIS Fidelity National Info Serv | Reduce -3.8% | 0.18% | −0.05 |
| DHR Danaher Corp. | Reduce -2.3% | 2.83% | −0.05 |
| PG The Procter & Gamble Co. | Reduce -0.8% | 1.13% | −0.05 |
| A Agilent Technologies Inc. | Reduce -31.7% | 0.14% | −0.05 |
| FDX FedEx Corp. | Reduce -19.9% | 0.17% | −0.03 |
| TEAM Atlassian Corp. Class A | Reduce -2.7% | 0.11% | −0.03 |
| EFX Equifax Inc. | Reduce -1.5% | 1.04% | −0.03 |
| RSG Republic Services Inc. | Reduce -3.8% | 0.18% | −0.02 |
| ROP Roper Technologies Inc. | Reduce -3.8% | 0.11% | −0.02 |
| ICLR Icon PLC | Sold out | 0.00% | −0.02 |
| ARES Ares Management Corp. Class A | Reduce -2.9% | 0.15% | −0.02 |
| TRU Transunion | Reduce -3.8% | 0.19% | −0.02 |
| LIN Linde PLC | Reduce -2.1% | 2.30% | −0.02 |
| WST West Pharmaceutical Services | Reduce -51.5% | 0.02% | −0.01 |
| HUBB Hubbell Inc. | Reduce -13.9% | 0.14% | −0.01 |
| MU Micron Technology Inc. | Reduce -33.1% | 0.14% | −0.01 |
| BR Broadridge Financial Solutio | Reduce -3.2% | 0.21% | −0.01 |
| SHW The Sherwin-Williams Co. | Reduce -2.1% | 0.99% | −0.01 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -2.7% | 0.18% | −0.01 |
| MORN Morningstar Inc. | Reduce -1.1% | 0.02% | −0.01 |
| FERG Ferguson Enterprises Inc. | Reduce -3.7% | 1.57% | −0.01 |
| MELI MercadoLibre Inc. | Reduce -0.8% | 0.05% | −0.01 |
| USFD US Foods Holding Corp. | Reduce -3.8% | 0.16% | −0.01 |
| GWRE Guidewire Software Inc. | Reduce -2.6% | 0.12% | −0.01 |
| TT Trane Technologies PLC | Reduce -1.1% | 0.04% | −0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| GWW WW Grainger Inc. | New | 1.67% | +1.67 |
| BSX Boston Scientific Corp. | Add +42978.9% | 1.55% | +1.55 |
| CRM Salesforce Inc. | Add +48.6% | 2.01% | +0.46 |
| KLAC KLA Corp. | Add +10.0% | 1.80% | +0.44 |
| AMAT Applied Materials Inc. | Add +12.7% | 1.78% | +0.37 |
| HD Home Depot Inc. | New | 0.24% | +0.24 |
| WDAY Workday Inc. Class A | Add +13.1% | 1.79% | +0.21 |
| ABT Abbott Laboratories | New | 0.16% | +0.16 |
| PODD Insulet Corp. | New | 0.11% | +0.11 |
| EW Edwards Lifesciences Corp. | New | 0.09% | +0.09 |
| NXPI NXP Semiconductors NV | New | 0.08% | +0.08 |
| BILL Bill Holdings Inc. | Add +191.5% | 0.11% | +0.08 |
| CBRE CBRE Group Inc. Class A | Add +0.3% | 0.65% | +0.08 |
| WMT Walmart Inc. | Add +51.4% | 0.17% | +0.06 |
| VRSK Verisk Analytics Inc. | Add +31.8% | 0.87% | +0.05 |
| C Citigroup Inc. | Add +1.3% | 0.24% | +0.04 |
| WTW Willis Towers Watson PLC | Add +3.2% | 0.28% | +0.04 |
| JPM JPMorgan Chase & Co. | Add +0.9% | 0.38% | +0.03 |
| SARO Standardaero Inc. | Add +120.9% | 0.07% | +0.03 |
| SYY Sysco Corp. | Add +2.0% | 0.30% | +0.03 |
| VZ Verizon Communications Inc. | Add +8.4% | 0.31% | +0.03 |
| BEPC Brookfield Renewable Corp. | Add +1.4% | 0.42% | +0.03 |
| SCHW Schwab (charles) Corp. | Add +3.7% | 0.30% | +0.02 |
| AZN Astrazeneca PLC-Spons ADR | Add +0.5% | 0.23% | +0.02 |
| CME Cme Group Inc. | Add +10.4% | 0.22% | +0.02 |
| UNH Unitedhealth Group Inc. | Add +0.1% | 0.17% | +0.02 |
| PGR Progressive Corp. | Add +13.8% | 0.26% | +0.01 |
| UNP Union Pacific Corp. | Add +0.8% | 0.27% | +0.01 |
| ASML ASML Holding NV-NY Reg SHS | Add +53.1% | 0.00% | +0.00 |
| APPF Appfolio Inc. Class A | Add +7.7% | 0.00% | +0.00 |
| INSM Insmed Inc. | Add +10.1% | 0.00% | +0.00 |
| GEV GE Vernova Inc. | Add +9.1% | 0.00% | +0.00 |
| DASH DoorDash Inc. Class A | Add +8.7% | 0.00% | +0.00 |
| CCEP Coca-Cola Europacific Partne | New | 0.00% | +0.00 |
| RELX Relx PLC - Spon ADR | Add +64.5% | 0.00% | +0.00 |
| SE Sea Ltd.-ADR | Add +13.3% | 0.00% | +0.00 |
| CRH CRH PLC | Add +9.4% | 0.00% | +0.00 |
| YMM Full Truck Alliance -SPN ADR | Add +12.1% | 0.00% | +0.00 |
| WCN Waste Connections Inc. | Add +32.2% | 0.00% | +0.00 |
| BKNG Booking Holdings Inc. | Add +11.1% | 0.00% | 0.00 |
| SAP Sap SE-Sponsored ADR | Add +9.8% | 0.00% | 0.00 |
| ACGL Arch Capital Group Ltd. | Add +7.3% | 0.00% | 0.00 |
| CNH CNH Industrial NV | Add +9.0% | 0.00% | 0.00 |
| CI The Cigna Group | Add +14.4% | 0.22% | −0.00 |
| NFLX Netflix Inc. | Add +5.7% | 0.00% | −0.00 |
| ISRG Intuitive Surgical Inc. | Add +2.8% | 0.00% | −0.00 |
| V Visa Inc. Class A | Add +3.0% | 0.22% | −0.00 |
| CMG Chipotle Mexican Grill Inc. | Add +16.9% | 0.04% | −0.01 |
| CMCSA Comcast Corp. Class A | Add +2.8% | 0.15% | −0.02 |
| NICE Nice Ltd. - Spon ADR | Add +0.5% | 0.16% | −0.02 |
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 |