Parnassus Value Equity Fund Q1 2025 Commentary

2025-05-14 08:09:00 ET

Summary

• Parnassus Value Equity Fund (Investor Shares) returned -1.98% (net of fees) for the quarter, underperforming the Russell 1000 Value Index’s 2.14%.
• The Information Technology sector was the largest detractor from relative performance, due to both stock selection and our sector overweight, while stock selection and an underweight in Industrials lifted relative results.
• We are leveraging this period of uncertainty to gradually redeploy capital out of defensive names that have outperformed and into global market leaders with growing competitive moats.
• We believe this heightened period of uncertainty should favor resilient businesses with strong market positions and create bargain opportunities that can reward long-term, patient investors.

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