Parnassus Investments, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), Parnassus Investments, LLC reported 138 stock positions worth $38.6 billion. Its top holding was Microsoft (MSFT) at 5.7% of the portfolio, followed by Alphabet Class A (GOOGL, 5.6%) and Amazon.com (AMZN, 4.7%). Compared with Q3 2025, it opened 3 new positions, sold out of 12, added to 53 and reduced 82. The biggest buy was Eli Lilly (LLY, shares +61%) and the biggest sale an exit from Vertex Pharmaceuticals (VRTX).
- Most Recent 13F
- Q2 2026
- Location
- San Francisco, CA
- CIK
- 0000948669
- Portfolio Value
- $38.6B (Q4 2025)
- SEC Filing
- 0001172661-26-000636 ↗ filed Feb 12, 2026
Holdings Value
Holdings 138 stocks · $38.6B
| MSFT Microsoft Corp. | 5.65% | 4,505,495 | $2.2B | Reduce -3.9% |
| GOOGL Alphabet Inc. Class A | 5.60% | 6,901,505 | $2.2B | Reduce -24.5% |
| AMZN Amazon.com Inc. | 4.72% | 7,887,228 | $1.8B | Reduce -20.9% |
| NVDA Nvidia Corp. | 4.64% | 9,600,898 | $1.8B | Reduce -22.5% |
| AAPL Apple Inc. | 3.56% | 5,049,172 | $1.4B | Add +43.0% |
| DE Deere & Co. | 3.19% | 2,642,017 | $1.2B | Reduce -14.6% |
| WM Waste Management Inc. | 3.01% | 5,277,285 | $1.2B | Reduce -6.0% |
| LLY Eli Lilly & Co. | 2.82% | 1,010,392 | $1.1B | Add +60.8% |
| DHR Danaher Corp. | 2.77% | 4,664,560 | $1.1B | Reduce -24.4% |
| MA Mastercard Inc. Class A | 2.68% | 1,809,280 | $1.0B | Reduce -14.8% |
| TMO Thermo Fisher Scientific Inc. | 2.38% | 1,583,105 | $917.3M | Reduce -24.4% |
| SPGI S&P Global Inc. | 2.37% | 1,749,394 | $914.2M | Reduce -13.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 2.35% | 16,477,774 | $906.3M | Reduce -14.4% |
| ICE Intercontinental Exchange Inc. | 2.28% | 5,436,265 | $880.5M | Reduce -16.3% |
| AVGO Broadcom Inc. | 2.21% | 2,461,410 | $851.9M | Reduce -2.3% |
| O Realty Income Corp. | 2.21% | 15,106,270 | $851.5M | Reduce -16.4% |
| AMAT Applied Materials Inc. | 2.15% | 3,227,145 | $829.3M | Reduce -14.2% |
| LIN Linde PLC | 2.01% | 1,818,692 | $775.5M | Reduce -13.3% |
| KLAC KLA Corp. | 1.97% | 623,664 | $757.8M | Reduce -13.4% |
| BSX Boston Scientific Corp. | 1.95% | 7,899,240 | $753.2M | Add +14.7% |
| AZO AutoZone Inc. | 1.86% | 211,328 | $716.7M | Reduce -15.8% |
| HD Home Depot Inc. | 1.86% | 2,080,538 | $715.9M | Add +712.3% |
| SYK Stryker Corp. | 1.78% | 1,947,575 | $684.5M | Add +23.1% |
| CRM Salesforce Inc. | 1.77% | 2,571,143 | $681.1M | Reduce -30.1% |
| SNPS Synopsys Inc. | 1.76% | 1,440,874 | $676.8M | Reduce -3.1% |
| GWW WW Grainger Inc. | 1.68% | 640,162 | $646.0M | Reduce -15.4% |
| COST Costco Wholesale Corp. | 1.48% | 662,447 | $571.3M | Add +57.6% |
| FERG Ferguson Enterprises Inc. | 1.48% | 2,565,454 | $571.1M | Reduce -15.2% |
| AMD Advanced Micro Devices | 1.37% | 2,463,159 | $527.5M | Reduce -15.7% |
| BRO Brown & Brown Inc. | 1.28% | 6,204,729 | $494.5M | Reduce -9.2% |
| MAR Marriott International Class A | 1.26% | 1,561,579 | $484.5M | Reduce -15.8% |
| WDAY Workday Inc. Class A | 1.18% | 2,116,802 | $454.6M | Reduce -34.2% |
| ORCL Oracle Corp. | 1.06% | 2,097,860 | $408.9M | Reduce -12.6% |
| VRSK Verisk Analytics Inc. | 1.05% | 1,815,060 | $406.0M | Add +21.6% |
| MRSH Marsh & McLennan Cos | 1.05% | 2,173,621 | $403.3M | Reduce -16.0% |
| PG The Procter & Gamble Co. | 0.97% | 2,604,052 | $373.2M | Reduce -17.8% |
| NOW ServiceNow Inc. | 0.92% | 2,304,946 | $353.1M | Reduce -27.8% |
| SHW The Sherwin-Williams Co. | 0.88% | 1,044,274 | $338.4M | Reduce -16.0% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.71% | 2,359,440 | $273.9M | Reduce -5.8% |
| CBRE CBRE Group Inc. Class A | 0.71% | 1,694,034 | $272.4M | Reduce -5.7% |
| BEPC Brookfield Renewable Corp. | 0.50% | 5,032,949 | $193.0M | Reduce -5.7% |
| JPM JPMorgan Chase & Co. | 0.42% | 500,909 | $161.4M | Reduce -4.3% |
| CMI Cummins Inc. | 0.37% | 280,004 | $142.9M | Reduce -3.9% |
| SCHW Schwab (charles) Corp. | 0.34% | 1,296,825 | $129.6M | Reduce -4.3% |
| VZ Verizon Communications Inc. | 0.32% | 3,073,760 | $125.2M | Add +1.1% |
| SYY Sysco Corp. | 0.31% | 1,611,005 | $118.7M | Add +1.0% |
| WTW Willis Towers Watson PLC | 0.30% | 357,537 | $117.5M | Add +1.5% |
| C Citigroup Inc. | 0.30% | 989,173 | $115.4M | Reduce -4.4% |
| TSM Taiwan Semiconductor-SP ADR | 0.30% | 376,999 | $114.6M | Reduce -3.9% |
| AZN Astrazeneca PLC-Spons ADR | 0.30% | 1,237,719 | $113.8M | Reduce -4.3% |
| LRCX Lam Research Corp. | 0.29% | 645,926 | $110.6M | Reduce -7.8% |
| UNP Union Pacific Corp. | 0.28% | 466,778 | $108.0M | Reduce -4.3% |
| PGR Progressive Corp. | 0.27% | 455,850 | $103.8M | Add +2.0% |
| CMS CMS Energy Corp. | 0.27% | 1,472,659 | $103.0M | New |
| V Visa Inc. Class A | 0.25% | 278,829 | $97.8M | Add +1.7% |
| CME Cme Group Inc. | 0.25% | 353,308 | $96.5M | Add +1.9% |
| CI The Cigna Group | 0.24% | 335,611 | $92.4M | Add +2.6% |
| WDC Western Digital Corp. | 0.23% | 523,497 | $90.2M | Reduce -41.8% |
| HUBB Hubbell Inc. | 0.22% | 194,948 | $86.6M | Add +38.6% |
| FDX FedEx Corp. | 0.22% | 295,041 | $85.2M | Reduce -4.1% |
| MU Micron Technology Inc. | 0.22% | 294,810 | $84.1M | Reduce -17.7% |
| ADSK Autodesk Inc. | 0.22% | 283,980 | $84.1M | Reduce -6.8% |
| HLT Hilton Worldwide Holdings Inc. | 0.21% | 285,163 | $81.9M | Reduce -5.8% |
| BR Broadridge Financial Solutio | 0.21% | 364,623 | $81.4M | Reduce -4.1% |
| WMT Walmart Inc. | 0.21% | 716,625 | $79.8M | Add +1.6% |
| BILL Bill Holdings Inc. | 0.21% | 1,463,791 | $79.8M | Add +61.6% |
| CBOE Cboe Global Markets Inc. | 0.21% | 316,018 | $79.3M | Reduce -7.8% |
| A Agilent Technologies Inc. | 0.20% | 580,939 | $79.0M | Add +26.2% |
| ABT Abbott Laboratories | 0.20% | 616,351 | $77.2M | Add +17.5% |
| TRU Transunion | 0.20% | 892,724 | $76.6M | Reduce -7.8% |
| BIO Bio-Rad Laboratories-A | 0.20% | 252,140 | $76.4M | Reduce -20.0% |
| REGN Regeneron Pharmaceuticals | 0.19% | 96,545 | $74.5M | Reduce -4.4% |
| SARO Standardaero Inc. | 0.19% | 2,512,169 | $72.0M | Add +120.5% |
| CMG Chipotle Mexican Grill Inc. | 0.18% | 1,834,533 | $67.9M | Add +307.4% |
| RSG Republic Services Inc. | 0.17% | 312,695 | $66.3M | Reduce -7.8% |
| UNH Unitedhealth Group Inc. | 0.17% | 199,953 | $66.0M | Reduce -4.3% |
| ARES Ares Management Corp. Class A | 0.17% | 402,561 | $65.1M | Reduce -1.8% |
| TFC Truist Financial Corp. | 0.17% | 1,309,976 | $64.5M | Reduce -7.8% |
| USFD US Foods Holding Corp. | 0.16% | 808,109 | $60.9M | Reduce -7.8% |
| XYL Xylem Inc. | 0.16% | 445,104 | $60.6M | Reduce -7.8% |
| ODFL Old Dominion Freight Line | 0.16% | 383,487 | $60.1M | Add +116.0% |
| NICE Nice Ltd. - Spon ADR | 0.15% | 524,909 | $59.3M | Add +11.9% |
| VMC Vulcan Materials Co. | 0.15% | 202,619 | $57.8M | Add +6.3% |
| ORLY O'reilly Automotive Inc. | 0.15% | 619,351 | $56.5M | Reduce -7.1% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.14% | 793,698 | $55.7M | Reduce -7.8% |
| DHI D.R. Horton Inc. | 0.13% | 357,953 | $51.6M | Reduce -7.8% |
| NXPI NXP Semiconductors NV | 0.13% | 231,599 | $50.3M | Add +43.8% |
| EW Edwards Lifesciences Corp. | 0.13% | 586,760 | $50.0M | Add +23.6% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.13% | 969,015 | $49.3M | Reduce -4.4% |
| IR Ingersoll-Rand Inc. | 0.13% | 620,664 | $49.2M | New |
| ROP Roper Technologies Inc. | 0.13% | 109,628 | $48.8M | Add +17.3% |
| PNR Pentair PLC | 0.12% | 456,104 | $47.5M | Add +6.8% |
| PODD Insulet Corp. | 0.12% | 166,904 | $47.4M | Add +10.8% |
| INTC Intel Corp. | 0.12% | 1,251,981 | $46.2M | Reduce -23.9% |
| SNDK Sandisk Corp. | 0.12% | 187,772 | $44.6M | Reduce -79.7% |
| ALL Allstate Corp. | 0.11% | 201,460 | $41.9M | Reduce -7.8% |
| IQV Iqvia Holdings Inc. | 0.11% | 183,977 | $41.5M | Reduce -7.8% |
| ALC Alcon Inc. filed as ALCON AG | 0.09% | 435,222 | $34.3M | Reduce -28.6% |
| TER Teradyne Inc. | 0.07% | 148,827 | $28.8M | Reduce -35.4% |
| ROK Rockwell Automation Inc. | 0.07% | 64,815 | $25.2M | Add +7.7% |
Portfolio Sells Q3 2025 → Q4 2025
| VRTX Vertex Pharmaceuticals Inc. | Sold out | 0.00% | −1.49 |
| FISV Fiserv Inc. | Sold out | 0.00% | −1.22 |
| BALL Ball Corp. | Sold out | 0.00% | −0.99 |
| EFX Equifax Inc. | Reduce -94.4% | 0.06% | −0.98 |
| NVDA Nvidia Corp. | Reduce -22.5% | 4.64% | −0.70 |
| AZO AutoZone Inc. | Reduce -15.8% | 1.86% | −0.63 |
| WDAY Workday Inc. Class A | Reduce -34.2% | 1.18% | −0.61 |
| ORCL Oracle Corp. | Reduce -12.6% | 1.06% | −0.50 |
| NOW ServiceNow Inc. | Reduce -27.8% | 0.92% | −0.44 |
| AMZN Amazon.com Inc. | Reduce -20.9% | 4.72% | −0.34 |
| O Realty Income Corp. | Reduce -16.4% | 2.21% | −0.33 |
| LIN Linde PLC | Reduce -13.3% | 2.01% | −0.29 |
| CRM Salesforce Inc. | Reduce -30.1% | 1.77% | −0.25 |
| ICE Intercontinental Exchange Inc. | Reduce -16.3% | 2.28% | −0.25 |
| BRO Brown & Brown Inc. | Reduce -9.2% | 1.28% | −0.20 |
| FIS Fidelity National Info Serv | Sold out | 0.00% | −0.18 |
| MRSH Marsh & McLennan Cos | Reduce -16.0% | 1.05% | −0.16 |
| PG The Procter & Gamble Co. | Reduce -17.8% | 0.97% | −0.16 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.15 |
| SNDK Sandisk Corp. | Reduce -79.7% | 0.12% | −0.12 |
| SHW The Sherwin-Williams Co. | Reduce -16.0% | 0.88% | −0.12 |
| MA Mastercard Inc. Class A | Reduce -14.8% | 2.68% | −0.11 |
| TEAM Atlassian Corp. Class A | Reduce -98.2% | 0.00% | −0.11 |
| POOL Pool Corp. | Reduce -70.2% | 0.03% | −0.10 |
| FERG Ferguson Enterprises Inc. | Reduce -15.2% | 1.48% | −0.09 |
| DE Deere & Co. | Reduce -14.6% | 3.19% | −0.08 |
| CSGP Costar Group Inc. | Reduce -57.2% | 0.05% | −0.08 |
| GWRE Guidewire Software Inc. | Reduce -55.8% | 0.05% | −0.07 |
| DHR Danaher Corp. | Reduce -24.4% | 2.77% | −0.06 |
| APP AppLovin Corp. Class A | Sold out | 0.00% | −0.04 |
| BLDR Builders Firstsource Inc. | Sold out | 0.00% | −0.04 |
| MORN Morningstar Inc. | Sold out | 0.00% | −0.02 |
| XYZ Block Inc. | Sold out | 0.00% | −0.02 |
| SN Sharkninja Inc. | Sold out | 0.00% | −0.02 |
| ORLY O'reilly Automotive Inc. | Reduce -7.1% | 0.15% | −0.02 |
| DHI D.R. Horton Inc. | Reduce -7.8% | 0.13% | −0.02 |
| ALC Alcon Inc. | Reduce -28.6% | 0.09% | −0.02 |
| WDC Western Digital Corp. | Reduce -41.8% | 0.23% | −0.02 |
| HOOD Robinhood Markets Inc. Class A | Reduce -3.0% | 0.05% | −0.01 |
| WRB WR Berkley Corp. | Reduce -7.8% | 0.14% | −0.01 |
| RSG Republic Services Inc. | Reduce -7.8% | 0.17% | −0.01 |
| INTC Intel Corp. | Reduce -23.9% | 0.12% | −0.01 |
| XYL Xylem Inc. | Reduce -7.8% | 0.16% | −0.01 |
| BIO Bio-Rad Laboratories-A | Reduce -20.0% | 0.20% | −0.01 |
| ADSK Autodesk Inc. | Reduce -6.8% | 0.22% | −0.01 |
| PTC PTC Inc. | Reduce -1.6% | 0.05% | −0.00 |
| MELI MercadoLibre Inc. | Reduce -1.0% | 0.05% | −0.00 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -4.4% | 0.13% | −0.00 |
| CDNS Cadence Design SYS Inc. | Reduce -3.0% | 0.04% | −0.00 |
| SE Sea Ltd.-ADR | Sold out | 0.00% | −0.00 |
Portfolio Buys Q3 2025 → Q4 2025
| LLY Eli Lilly & Co. | Add +60.8% | 2.82% | +1.71 |
| HD Home Depot Inc. | Add +712.3% | 1.86% | +1.62 |
| AAPL Apple Inc. | Add +43.0% | 3.56% | +1.48 |
| COST Costco Wholesale Corp. | Add +57.6% | 1.48% | +0.58 |
| SYK Stryker Corp. | Add +23.1% | 1.78% | +0.42 |
| BSX Boston Scientific Corp. | Add +14.7% | 1.95% | +0.40 |
| CMS CMS Energy Corp. | New | 0.27% | +0.27 |
| VRSK Verisk Analytics Inc. | Add +21.6% | 1.05% | +0.19 |
| CMG Chipotle Mexican Grill Inc. | Add +307.4% | 0.18% | +0.14 |
| IR Ingersoll-Rand Inc. | New | 0.13% | +0.13 |
| SARO Standardaero Inc. | Add +120.5% | 0.19% | +0.12 |
| ODFL Old Dominion Freight Line | Add +116.0% | 0.16% | +0.10 |
| BILL Bill Holdings Inc. | Add +61.6% | 0.21% | +0.10 |
| HUBB Hubbell Inc. | Add +38.6% | 0.22% | +0.08 |
| A Agilent Technologies Inc. | Add +26.2% | 0.20% | +0.07 |
| PWR Quanta Services Inc. | New | 0.05% | +0.05 |
| NXPI NXP Semiconductors NV | Add +43.8% | 0.13% | +0.05 |
| EW Edwards Lifesciences Corp. | Add +23.6% | 0.13% | +0.04 |
| WMT Walmart Inc. | Add +1.6% | 0.21% | +0.04 |
| ABT Abbott Laboratories | Add +17.5% | 0.20% | +0.04 |
| V Visa Inc. Class A | Add +1.7% | 0.25% | +0.04 |
| WCN Waste Connections Inc. | Add +5348.3% | 0.04% | +0.04 |
| CME Cme Group Inc. | Add +1.9% | 0.25% | +0.03 |
| WTW Willis Towers Watson PLC | Add +1.5% | 0.30% | +0.02 |
| DASH DoorDash Inc. Class A | Add +585.8% | 0.03% | +0.02 |
| CI The Cigna Group | Add +2.6% | 0.24% | +0.02 |
| INSM Insmed Inc. | Add +491.8% | 0.02% | +0.02 |
| PCOR Procore Technologies Inc. | Add +64.6% | 0.04% | +0.02 |
| ROP Roper Technologies Inc. | Add +17.3% | 0.13% | +0.02 |
| ROK Rockwell Automation Inc. | Add +7.7% | 0.07% | +0.02 |
| NTRA Natera Inc. | Add +3.8% | 0.04% | +0.02 |
| VZ Verizon Communications Inc. | Add +1.1% | 0.32% | +0.02 |
| PODD Insulet Corp. | Add +10.8% | 0.12% | +0.02 |
| VMC Vulcan Materials Co. | Add +6.3% | 0.15% | +0.01 |
| PGR Progressive Corp. | Add +2.0% | 0.27% | +0.01 |
| PNR Pentair PLC | Add +6.8% | 0.12% | +0.01 |
| RCL Royal Caribbean Cruises Ltd. | Add +35.3% | 0.06% | +0.01 |
| MTD Mettler-Toledo International | Add +2.1% | 0.05% | +0.01 |
| IDXX Idexx Laboratories Inc. | Add +2.4% | 0.06% | +0.01 |
| ALNY Alnylam Pharmaceuticals Inc. | Add +20.4% | 0.05% | +0.01 |
| MSCI MSCI Inc. | Add +7.9% | 0.03% | +0.01 |
| SYY Sysco Corp. | Add +1.0% | 0.31% | +0.00 |
| WST West Pharmaceutical Services | Add +2.4% | 0.02% | +0.00 |
| ISRG Intuitive Surgical Inc. | Add +10.7% | 0.00% | +0.00 |
| ASML ASML Holding NV-NY Reg SHS | Add +10.1% | 0.01% | +0.00 |
| GEV GE Vernova Inc. | Add +14.1% | 0.01% | +0.00 |
| NFLX Netflix Inc. | Add +41.3% | 0.00% | +0.00 |
| APPF Appfolio Inc. Class A | Add +14.2% | 0.01% | +0.00 |
| CRH CRH PLC | Add +9.3% | 0.00% | +0.00 |
| BKNG Booking Holdings Inc. | Add +10.0% | 0.00% | +0.00 |
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 |