Parnassus Core Equity Fund
Portfolio of Investments as of March 31, 2026 (unaudited)
| Equities | Shares | Market Value ($) |
||||||
| Banks (2.3%) | ||||||||
| Bank of America Corp. | 10,353,246 | 504,720,743 | ||||||
| Capital Markets (5.1%) | ||||||||
| Intercontinental Exchange Inc. | 4,217,312 | 663,298,831 | ||||||
| S&P Global Inc. | 1,113,315 | 473,537,402 | ||||||
| 1,136,836,233 | ||||||||
| Chemicals (4.0%) | ||||||||
| Linde plc | 1,250,631 | 620,012,825 | ||||||
| The Sherwin-Williams Co. | 864,261 | 277,038,864 | ||||||
| 897,051,689 | ||||||||
| Commercial Services & Supplies (4.0%) | ||||||||
| Waste Management Inc. | 3,870,518 | 889,406,331 | ||||||
| Construction Materials (1.5%) | ||||||||
| Vulcan Materials Co. | 1,189,000 | 323,764,700 | ||||||
| Diversified Financial Services (2.7%) | ||||||||
| Mastercard Inc., Class A | 1,213,096 | 606,135,547 | ||||||
| Equity Real Estate Investment Trusts (3.1%) | ||||||||
| Realty Income Corp. | 11,225,982 | 686,805,579 | ||||||
| Food & Staples Retailing (2.5%) | ||||||||
| Costco Wholesale Corp. | 568,125 | 566,096,794 | ||||||
| Health Care Equipment & Supplies (3.9%) | ||||||||
| Boston Scientific Corp.q | 6,115,192 | 383,728,298 | ||||||
| Stryker Corp. | 1,484,958 | 487,942,349 | ||||||
| 871,670,647 | ||||||||
| Hotels, Restaurants & Leisure (2.0%) | ||||||||
| Marriott International Inc., Class A | 1,338,520 | 437,789,736 | ||||||
| Household Products (1.4%) | ||||||||
| The Procter & Gamble Co. | 2,232,971 | 322,530,331 | ||||||
| Insurance (1.4%) | ||||||||
| Marsh & McLennan Companies Inc. | 1,862,433 | 323,039,004 | ||||||
| 323,039,004 | ||||||||
| Interactive Media & Services (6.2%) | ||||||||
| Alphabet Inc., Class A | 4,815,004 | 1,384,602,550 | ||||||
| Life Sciences Tools & Services (5.2%) | ||||||||
| Danaher Corp. | 3,324,608 | 630,345,677 | ||||||
| Thermo Fisher Scientific Inc. | 1,091,227 | 536,370,807 | ||||||
| Equities | Shares | Market Value ($) |
||||||
| 1,166,716,484 | ||||||||
| Machinery (3.5%) | ||||||||
| Deere & Co. | 1,409,755 | 794,114,992 | ||||||
| Multiline Retail (5.3%) | ||||||||
| Amazon.com Inc.q | 5,693,775 | 1,185,842,519 | ||||||
| Pharmaceuticals (3.2%) | ||||||||
| Eli Lilly & Co. | 783,902 | 721,009,543 | ||||||
| Professional Services (1.1%) | ||||||||
| Verisk Analytics Inc., Class A | 1,291,512 | 245,064,402 | ||||||
| Road & Rail (1.1%) | ||||||||
| Old Dominion Freight Line Inc. | 1,301,692 | 254,350,617 | ||||||
| Semiconductors & Semiconductor Equipment (16.4%) | ||||||||
| Advanced Micro Devices Inc.q | 1,961,616 | 399,051,543 | ||||||
| Applied Materials Inc. | 2,225,356 | 760,604,427 | ||||||
| Broadcom Inc. | 1,753,029 | 542,580,006 | ||||||
| KLA Corp. | 407,430 | 599,904,006 | ||||||
| NVIDIA Corp. | 7,867,382 | 1,372,071,421 | ||||||
| 3,674,211,403 | ||||||||
| Software (9.8%) | ||||||||
| Microsoft Corp. | 3,301,725 | 1,222,199,543 | ||||||
| Oracle Corp. | 1,584,355 | 233,074,464 | ||||||
| Salesforce Inc. | 1,622,499 | 302,871,888 | ||||||
| Synopsys Inc.q | 1,106,394 | 438,663,093 | ||||||
| 2,196,808,988 | ||||||||
| Specialty Retail (4.5%) | ||||||||
| AutoZone Inc.q | 163,941 | 553,756,631 | ||||||
| The Home Depot Inc. | 1,369,718 | 450,486,553 | ||||||
| 1,004,243,184 | ||||||||
| Technology Hardware, Storage & Peripherals (4.4%) | ||||||||
| Apple Inc. | 3,910,964 | 992,563,554 | ||||||
| Trading Companies & Distributors (4.5%) | ||||||||
| Ferguson Enterprises Inc. | 1,896,421 | 442,359,162 | ||||||
| WW Grainger Inc. | 528,251 | 576,221,473 | ||||||
| 1,018,580,635 | ||||||||
| Total investment in equities (99.1%) |
| |||||||
| (cost $17,373,486,387) |
22,203,956,205 | |||||||
| Short-Term Securities | Interest Rate | Maturity Date |
Principal Amount ($) |
Market Value ($) | ||||||||||
| Time Deposits (0.4%) |
|
|||||||||||||
| Citibank, New York | 2.98% | 04/01/2026 | 89,502,471 | 89,502,471 | ||||||||||
| Total short-term securities (0.4%) | ||||||||||||||
| (cost $89,502,471) |
89,502,471 | |||||||||||||
| Total securities (99.5%) | ||||||||||||||
| (cost $17,462,988,858) |
22,293,458,676 | |||||||||||||
| Other assets and liabilities (0.5%) | 120,317,750 | |||||||||||||
| Total net assets (100.0%) |
22,413,776,426 | |||||||||||||
| q | This security is non-income producing. |
| plc | Public Limited Company |