# EDGAR Filing Document

**Accession Number:** 0000747546
**File Stem:** 0001752724-25-181418
**Filing Date:** 2025-7
**Character Count:** 19584
**Document Hash:** 8a888bfb85e192cc99de53b26502ac04
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-181418.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001752724-25-181418

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PARNASSUS FUNDS
- **CENTRAL INDEX KEY:** 0000747546

**ORGANIZATION NAME:**
- **EIN:** 946579180
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04044
- **FILM NUMBER:** 251158186

**BUSINESS ADDRESS:**
- **STREET 1:** ONE MARKET #1600
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105
- **BUSINESS PHONE:** 4157780200

**MAIL ADDRESS:**
- **STREET 1:** ONE MARKET #1600
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PARNASSUS FUND
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RENAISSANCE FUND/MA
- **DATE OF NAME CHANGE:** 19841206

## Series and Classes Contracts Data

### Parnassus Value Equity Fund (Series ID: S000000855)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000002470 | Investor Shares      | PARWX           |
| C000156024 | Institutional Shares | PFPWX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Parnassus Funds

- **b. Investment Company Act file number:** 811-04044

- **c. CIK number of Registrant:** 0000747546

- **d. LEI of Registrant:** 254900NG8E5H7DEOIQ09

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1 Market Street

  - **City:** San Francisco

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94105

  - **Telephone number:** 415-778-0200

**Item A.2. Information about the Series.**

- **a. Name of Series:** Parnassus Value Equity Fund

- **b. EDGAR series identifier (if any):** S000000855

- **c. LEI of Series:** 549300GMR0CLAVK20E33

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $4608633639.25

**Total Liabilities:** $39307466.29

**Net Assets:** $4569326172.96

**Cash Not Reported:** $66732648.02

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000002470 | -3.07%               | 4.92%                | 5.45%                |
| Class ID C000156024 | -3.04%               | 4.94%                | 5.47%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $43817112.77             | $-187846419.37                             |
| Month 2  | $-65751916.91            | $272523726.08                              |
| Month 3  | $67756993.48             | $168775611.65                              |

### Schedule of Portfolio Investments

| Name                         | Title                                                                | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| THERMO FISHER SCIENTIFIC INC | THERMO FISHER SCIENTIFIC INC 0.00000000                              | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |    192274 | NS      | $77959416.04  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P GLOBAL INC               | S&P GLOBAL INC 0.00000000                                            | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |    319781 | NS      | $168617323.49 | 3.69%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVO-NORDISK A/S-SPONS ADR   | NOVO-NORDISK A/S-SPONS ADR 0.00000000                                | CUSIP: 670100205<br>LEI: N/A                  | Long             | EC               | CORP              | DK        |   1011546 | NS      | $69816904.92  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCED MICRO DEVICES       | ADVANCED MICRO DEVICES 0.00000000                                    | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |    510214 | NS      | $72399366.60  | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM INC               | AMAZON.COM INC 0.00000000                                            | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    520918 | NS      | $114284200.02 | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORP               | MICROSOFT CORP 0.00000000                                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    295492 | NS      | $146980675.72 | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| PROGRESSIVE CORP             | PROGRESSIVE CORP 0.00000000                                          | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |    392685 | NS      | $104791919.10 | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC-CLASS A SHARES      | VISA INC-CLASS A SHARES 0.00000000                                   | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |    256686 | NS      | $91136364.30  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| CIGNA CORP                   | CIGNA CORP 0.00000000                                                | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |    285917 | NS      | $94518441.86  | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS    | REGENERON PHARMACEUTICALS 0.00000000                                 | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |    101084 | NS      | $53069100.00  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE GROUP INC - A           | CBRE GROUP INC - A 0.00000000                                        | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |   1077618 | NS      | $150995834.16 | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHWAB (CHARLES) CORP        | SCHWAB (CHARLES) CORP 0.00000000                                     | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |   1303272 | NS      | $118910537.28 | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| CME GROUP INC                | CME GROUP INC 0.00000000                                             | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |    314138 | NS      | $86582715.56  | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| DEERE AND CO                 | DEERE AND CO 0.00000000                                              | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |    333911 | NS      | $169790404.39 | 3.72%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF NEW YORK MELLON CORP | BANK OF NEW YORK MELLON CORP 0.00000000                              | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |   1460234 | NS      | $133041919.74 | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN DIGITAL CORP         | WESTERN DIGITAL CORP 0.00000000                                      | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |   1034771 | NS      | $66214996.29  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORP                  | ORACLE CORP 0.00000000                                               | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |    546685 | NS      | $119521741.55 | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| BALL CORP                    | BALL CORP 0.00000000                                                 | CUSIP: 058498106<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | EC               | CORP              | US        |   1839016 | NS      | $103150407.44 | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| INTEL CORP                   | INTEL CORP 0.00000000                                                | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |   1956351 | NS      | $43822262.40  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| UNION PACIFIC CORP           | UNION PACIFIC CORP 0.00000000                                        | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |    482963 | NS      | $111120127.04 | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| DR HORTON INC                | DR HORTON INC 0.00000000                                             | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |    886570 | NS      | $114296604.40 | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| CUMMINS INC                  | CUMMINS INC 0.00000000                                               | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |    341308 | NS      | $111778370.00 | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| WALMART INC                  | WALMART INC 0.00000000                                               | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |    466056 | NS      | $45570955.68  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| LINDE PLC                    | LINDE PLC 0.00000000                                                 | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |    172806 | NS      | $81077119.08  | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTRAZENECA PLC-SPONS ADR    | ASTRAZENECA PLC-SPONS ADR 0.00000000                                 | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |   1279561 | NS      | $89415722.68  | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD RENEWABLE CORP    | BROOKFIELD RENEWABLE CORP 0.00000000                                 | CUSIP: 11285B108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |   3029290 | NS      | $99300126.20  | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| AIRBNB INC-CLASS A           | AIRBNB INC-CLASS A 0.00000000                                        | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |    697804 | NS      | $92347381.36  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NICE LTD - SPON ADR          | NICE LTD - SPON ADR 0.00000000                                       | CUSIP: 653656108<br>LEI: 254900YTY4EF5Z4W0A51 | Long             | EC               | CORP              | IL        |    464927 | NS      | $78530819.57  | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC                | CITIGROUP INC 0.00000000                                             | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |   1021369 | NS      | $86938929.28  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| COMCAST CORP-CLASS A         | COMCAST CORP-CLASS A 0.00000000                                      | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |   1983592 | NS      | $70794398.48  | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC   | VERIZON COMMUNICATIONS INC 0.00000000                                | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |   2798241 | NS      | $121079888.07 | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| TAIWAN SEMICONDUCTOR-SP ADR  | TAIWAN SEMICONDUCTOR SPONSORED ADR /1 ADR REPS 5 ORD SHS/ 0.00000000 | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    445843 | NS      | $100978981.07 | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| DANAHER CORP                 | DANAHER CORP 0.00000000                                              | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |    392218 | NS      | $77478743.72  | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| WILLIS TOWERS WATSON PLC     | WILLIS TOWERS WATSON PLC 0.00000000                                  | CUSIP: G96629103<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | IE        |    340315 | NS      | $104306547.50 | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDEX CORP                   | FEDEX CORP 0.00000000                                                | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |    384194 | NS      | $87331138.14  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| MICRON TECHNOLOGY INC        | MICRON TECHNOLOGY INC 0.00000000                                     | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |    534277 | NS      | $65849640.25  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATERIALS INC        | APPLIED MATERIALS INC 0.00000000                                     | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |    438001 | NS      | $80184843.07  | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO          | JPMORGAN CHASE & CO 0.00000000                                       | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |    518049 | NS      | $150187585.59 | 3.29%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTERCARD INC - A           | MASTERCARD INC - A 0.00000000                                        | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |    253594 | NS      | $142504612.36 | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| SYSCO CORP                   | SYSCO CORP 0.00000000                                                | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |   1561290 | NS      | $118252104.60 | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP         | BANK OF AMERICA CORP 0.00000000                                      | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |   3229051 | NS      | $152798693.32 | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC       | UNITEDHEALTH GROUP INC 0.00000000                                    | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |    207960 | NS      | $64877281.20  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                 | BROADCOM INC 0.00000000                                              | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |    372260 | NS      | $102613469.00 | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| BIO-RAD LABORATORIES-A       | BIO-RAD LABORATORIES-A 0.00000000                                    | CUSIP: 090572207<br>LEI: 549300ZC1GPV35XYDK53 | Long             | EC               | CORP              | US        |    316361 | NS      | $76344236.52  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC-CL A            | ALPHABET INC-CL A 0.00000000                                         | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    700500 | NS      | $123449115.00 | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

**Name of Applicant:** Parnassus Funds

**Signature:** Marc C. Mahon

**Name of Signer:** Marc C. Mahon

**Title:** Principal Financial Officer