# EDGAR Filing Document

**Accession Number:** 0000866256
**File Stem:** 0001003715-25-001031
**Filing Date:** 2025-10
**Character Count:** 17136
**Document Hash:** 1b9d4e9e13c83c3e99bb331cacb7d6cc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001003715-25-001031.hdr.sgml**: 20251030

**ACCESSION NUMBER**: 0001003715-25-001031

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251030

**DATE AS OF CHANGE**: 20251030

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PARNASSUS FUNDS II
- **CENTRAL INDEX KEY:** 0000866256

**ORGANIZATION NAME:**
- **EIN:** 946633178
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231
- **LEGAL ENTITY IDENTIFIER:** 25490076SJ8OS37PWC23

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06673
- **FILM NUMBER:** 251435791

**BUSINESS ADDRESS:**
- **STREET 1:** 1 MARKET ST STE 1600
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105-1467
- **BUSINESS PHONE:** 4157780200

**MAIL ADDRESS:**
- **STREET 1:** 1 MARKET ST STE 1600
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105-1467

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PARNASSUS INCOME FUNDS
- **DATE OF NAME CHANGE:** 20050304

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

## Series and Classes Contracts Data

### Parnassus Value Select ETF (Series ID: S000089217)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000255732 | Parnassus Value Select ETF | PRVS            |

## Nport-Ex

**Parnassus Value Select ETF** 

**Portfolio of Investments as of September 30, 2025 (unaudited)** 

---

| | | |
|:---|:---|:---|
| <br>**Equities** | <br>**Shares** | $nan<br>**Market**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value ($)**  |
| **Banks (8.2%)** |  |  |
| Bank of America Corp. | 6239 | 321870 |
| JPMorgan Chase & Co. | 1185 | 373785 |
|  |  | 695655 |
| **Capital Markets (8.1%)** |  |  |
| S&P Global Inc. | 740 | 360165 |
| The Charles Schwab Corp. | 3463 | 330613 |
|  |  | 690778 |
| **Chemicals (3.3%)** |  |  |
| Linde plc | 595 | 282625 |
| **Diversified Financial Services (4.2%)** |  |  |
| Visa Inc., Class A | 1041 | 355377 |
| **Diversified Telecommunication Services (4.2%)** |  |  |
| Verizon Communications Inc. | 8212 | 360917 |
| **Equity Real Estate Investment Trusts (4.7%)** |  |  |
| CBRE Group Inc., Class A<sup>q</sup> | 2542 | 400517 |
| **Food & Staples Retailing (3.0%)** |  |  |
| Sysco Corp. | 3137 | 258301 |
| **Health Care Providers & Services (3.2%)** |  |  |
| UnitedHealth Group Inc. | 784 | 270715 |
| **Independent Power & Renewable Electricity Producers (3.9%)** |  |  |
| Brookfield Renewable Corp. | 9700 | 333874 |
| **Insurance (2.7%)** |  |  |
| Willis Towers Watson plc | 652 | 225233 |
| **Interactive Media & Services (5.0%)** |  |  |
| Alphabet Inc., Class A | 1740 | 422994 |
| **Life Sciences Tools & Services (6.5%)** |  |  |
| Bio-Rad Laboratories Inc., Class A<sup>q</sup> | 930 | 260763 |
| Thermo Fisher Scientific Inc. | 603 | 292467 |
|  |  | 553230 |
| **Machinery (7.7%)** |  |  |
| Cummins Inc. | 755 | 318889 |
| Deere & Co. | 733 | 335172 |
|  |  | 654061 |
| **Media (2.5%)** |  |  |
| Comcast Corp., Class A | 6704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210640 |

---

------

---

| | | |
|:---|:---|:---|
| **Multiline Retail (3.6%)** |  |  |
| Amazon.com Inc.<sup>q</sup> | 1391 | 305422 |
| **Pharmaceuticals (4.3%)** |  |  |
| AstraZeneca plc, ADR | 4823 | 370021 |
| **Road & Rail (3.8%)** |  |  |
| Union Pacific Corp. | 1363 | 322172 |
| **Semiconductors & Semiconductor Equipment (10.2%)** |  |  |
| Applied Materials Inc. | 1493 | 305677 |
| Micron Technology Inc. | 1193 | 199613 |
| Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 1312 | 366428 |
|  |  | 871718 |
| **Software (7.6%)** |  |  |
| Microsoft Corp. | 742 | 384319 |
| NICE Ltd., ADR<sup>q</sup> | 1816 | 262920 |
|  |  | 647239 |
| **Specialty Retail (2.9%)** |  |  |
| The Home Depot Inc. | 607 | 245950 |
| **Total investment in equities (99.6%)** | **Total investment in equities (99.6%)** | **Total investment in equities (99.6%)** |
| (cost $7,709,731) |  | **8477439** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Short-Term Securities** | <br>**Interest Rate** | <br>**Maturity Date** | $nan<br>**Principal**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount ($)**  | $nan<br>**Market<br> Value ($)** |
|  **Time Deposits (0.4%)** | **Time Deposits (0.4%)** | **Time Deposits (0.4%)** |  |  |
|  ANZ, London | 3.44% | 10/01/2025 | 33549 | 33549 |
|  **Total short-term securities (0.4%)** |  |  |  |  |
|  (cost $33,549) |  |  |  | **33549** |
|  **Total securities (100.0%)** |  |  |  |  |
|  (cost $7,743,280) |  |  |  | **8510988** |
|  Other assets and liabilities (0.0%) |  |  |  | (1461) |
|  **Total net assets (100.0%)** |  |  |  | **8509527** |

---

------

q This security is non-income producing.

------

---

| | |
|:---|:---|
| ***plc*** | Public Limited Company |
| ***ADR*** | American Depositary Receipt |

---

## 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 II

- **b. Investment Company Act file number:** 811-06673

- **c. CIK number of Registrant:** 0000866256

- **d. LEI of Registrant:** 25490076SJ8OS37PWC23

- **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 Select ETF

- **b. EDGAR series identifier (if any):** S000089217

- **c. LEI of Series:** 529900XMAT9JVSE8GB19

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

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

- **b. Date as of which information is reported:** 2025-09-30

**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:** $8513877.20

**Total Liabilities:** $4353.42

**Net Assets:** $8509523.78

**Cash Not Reported:** $31665.01

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000255732 | 2.72%                | 1.79%                | 2.37%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $11474.28                | $185108.45                                 |
| Month 2  | $0.00                    | $142691.55                                 |
| Month 3  | $-20391.70               | $214257.09                                 |

### 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        |       603 | NS      | $292467.06    | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P GLOBAL INC               | S&P GLOBAL INC 0.00000000                                            | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |       740 | NS      | $360165.40    | 4.23%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM INC               | AMAZON.COM INC 0.00000000                                            | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      1391 | NS      | $305421.87    | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORP               | MICROSOFT CORP 0.00000000                                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |       742 | NS      | $384318.90    | 4.52%             |  |  |  | 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        |      1041 | NS      | $355376.58    | 4.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE GROUP INC - A           | CBRE GROUP INC - A 0.00000000                                        | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |      2542 | NS      | $400517.52    | 4.71%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHWAB (CHARLES) CORP        | SCHWAB (CHARLES) CORP 0.00000000                                     | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |      3463 | NS      | $330612.61    | 3.89%             |  |  |  | No            |                  1 | On Loan: No      |
| DEERE AND CO                 | DEERE AND CO 0.00000000                                              | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |       733 | NS      | $335171.58    | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| UNION PACIFIC CORP           | UNION PACIFIC CORP 0.00000000                                        | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |      1363 | NS      | $322172.31    | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| HOME DEPOT INC               | HOME DEPOT INC 0.00000000                                            | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |       607 | NS      | $245950.33    | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| CUMMINS INC                  | CUMMINS INC 0.00000000                                               | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |       755 | NS      | $318889.35    | 3.75%             |  |  |  | No            |                  1 | On Loan: No      |
| LINDE PLC                    | LINDE PLC 0.00000000                                                 | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |       595 | NS      | $282625.00    | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTRAZENECA PLC-SPONS ADR    | ASTRAZENECA PLC-SPONS ADR 0.00000000                                 | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |      4823 | NS      | $370020.56    | 4.35%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD RENEWABLE CORP    | BROOKFIELD RENEWABLE CORP 0.00000000                                 | CUSIP: 11285B108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      9700 | NS      | $333874.00    | 3.92%             |  |  |  | No            |                  1 | On Loan: No      |
| NICE LTD - SPON ADR          | NICE LTD - SPON ADR 0.00000000                                       | CUSIP: 653656108<br>LEI: 254900YTY4EF5Z4W0A51 | Long             | EC               | CORP              | IL        |      1816 | NS      | $262920.48    | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| COMCAST CORP-CLASS A         | COMCAST CORP-CLASS A 0.00000000                                      | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |      6704 | NS      | $210639.68    | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC   | VERIZON COMMUNICATIONS INC 0.00000000                                | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |      8212 | NS      | $360917.40    | 4.24%             |  |  |  | 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        |      1312 | NS      | $366428.48    | 4.31%             |  |  |  | No            |                  1 | On Loan: No      |
| WILLIS TOWERS WATSON PLC     | WILLIS TOWERS WATSON PLC 0.00000000                                  | CUSIP: G96629103<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | IE        |       652 | NS      | $225233.40    | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| MICRON TECHNOLOGY INC        | MICRON TECHNOLOGY INC 0.00000000                                     | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      1193 | NS      | $199612.76    | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATERIALS INC        | APPLIED MATERIALS INC 0.00000000                                     | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      1493 | NS      | $305676.82    | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO          | JPMORGAN CHASE & CO 0.00000000                                       | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      1185 | NS      | $373784.55    | 4.39%             |  |  |  | No            |                  1 | On Loan: No      |
| SYSCO CORP                   | SYSCO CORP 0.00000000                                                | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |      3137 | NS      | $258300.58    | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP         | BANK OF AMERICA CORP 0.00000000                                      | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |      6239 | NS      | $321870.01    | 3.78%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC       | UNITEDHEALTH GROUP INC 0.00000000                                    | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |       784 | NS      | $270715.20    | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BIO-RAD LABORATORIES-A       | BIO-RAD LABORATORIES-A 0.00000000                                    | CUSIP: 090572207<br>LEI: 549300ZC1GPV35XYDK53 | Long             | EC               | CORP              | US        |       930 | NS      | $260762.70    | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC-CL A            | ALPHABET INC-CL A 0.00000000                                         | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      1740 | NS      | $422994.00    | 4.97%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Parnassus Funds II

**Signature:** Marc C. Mahon

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

**Title:** Principal Financial Officer