Insights into the fund’s latest portfolio adjustments and key stock performance
Parnassus Value Equity Fund (Trade, Portfolio), managed by Parnassus Investments, recently published its N-PORT filing for Q2 2024. Known for its commitment to fossil-fuel-free investing and positive work environments, the fund focuses on acquiring undervalued and out-of-favor stocks with the potential for big returns. Managed by Billy Hwang after Jerome Dodson (Trade, Portfolio) retired in 2020, the fund aims to outperform the S&P 500 by investing in high-quality leading U.S. companies that meet strict ESG criteria.
New addition to the portfolio
Parnassus Value Equity Fund ( Trades , Portfolio ) made some notable new additions in Q2 2024.
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Broadcom Inc (NASDAQ:AVGO) was a key holding with 33,578 new shares acquired, representing 1.1% of the portfolio for a total of $53.91 million.
Significant increase in existing positions
The fund also increased its exposure to several major stocks.
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NICE Ltd (NASDAQ:NICE) added 274,307 shares, bringing the total to 509,404 shares. This adjustment increased the share count by 116.68% and impacts the current portfolio by 0.96%, making it worth $87.6 million.
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Pfizer Inc. (NYSE:PFE) increased by 1,047,972 shares for a total of 4,233,811 shares, representing a 32.89% increase in shares and a total value of $118.46 million.
Complete Finish
The Fund completely liquidated its positions as of:
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Cisco Systems Inc. (NASDAQ:CSCO) sold all 1,324,420 shares, impacting the portfolio by -1.27%.
Reduction of major assets
Significant reductions have been made in some holdings.
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Micron Technology Inc (NASDAQ:MU) fell by 782,572 shares, a decrease of -43.56%, impacting the portfolio by -1.76%. The stock traded at an average price of $126.02 during the quarter and has returned 11.65% over the past three months and 60.03% year-to-date.
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American Express Company (NYSE:AXP) fell by 153,720 shares, a decrease of 29.38%, impacting the portfolio by 0.67%. The stock traded at an average price of $231.59 during the quarter and has returned 10.15% over the past three months and 28.78% year-to-date.
Portfolio Overview
As of Q2 2024, Parnassus Value Equity Fund (Trade, Portfolio) has 44 stocks in its portfolio. Top holdings include Verizon Communications (NYSE: VZ) at 4.21%, Bank of America (NYSE: BAC) at 3.52%, Oracle (NYSE: ORCL) at 3.35%, S&P Global (NYSE: SPGI) at 3.03%, and Alphabet (NASDAQ: GOOGL) at 2.98%. Holdings are concentrated in 10 of 11 industry sectors, including financial services, technology, healthcare, and communication services.
This article written by GuruFocus is intended to provide general insights and is not tailored financial advice. Our commentary is based on historical data and analyst forecasts, uses an unbiased methodology and is not intended to serve as specific investment guidance. It is not a recommendation to buy or sell stocks, nor does it take into account your individual investment objectives or financial situation. Our objective is to provide long-term, fundamental, data-driven analysis. Please note that our analysis may not incorporate the latest price-sensitive company announcements or qualitative information. GuruFocus has no position in the stocks mentioned herein.
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