PARNASSUS CORE EQUITY FUND
Portfolio of Investments as of September 30, 2019 (unaudited)
Equities | Shares | Market Value ($) | ||||||
Air Freight & Logistics (2.9%) | ||||||||
FedEx Corp. | 3,535,698 | 514,691,558 | ||||||
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Apparel & Luxury Goods (2.8%) | ||||||||
VF Corp. | 5,590,968 | 497,540,242 | ||||||
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Banks (2.7%) | ||||||||
Bank of America Corp. | 16,073,063 | 468,851,248 | ||||||
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Biotechnology (2.5%) | ||||||||
Gilead Sciences Inc. | 6,778,143 | 429,598,703 | ||||||
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Capital Markets (4.2%) | ||||||||
Charles Schwab Corp. | 5,571,108 | 233,039,448 | ||||||
CME Group Inc. | 2,432,673 | 514,121,112 | ||||||
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747,160,560 | ||||||||
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Chemicals (5.4%) | ||||||||
Linde plc | 2,757,170 | 534,118,972 | ||||||
PPG Industries Inc. | 3,572,144 | 423,334,785 | ||||||
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957,453,757 | ||||||||
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Commercial Services & Supplies (3.0%) | ||||||||
Waste Management Inc. | 4,511,588 | 518,832,620 | ||||||
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Communications Equipment (4.6%) | ||||||||
Cisco Systems Inc. | 7,444,060 | 367,811,005 | ||||||
Motorola Solutions Inc. | 2,519,414 | 429,333,340 | ||||||
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797,144,345 | ||||||||
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Consumer Finance (3.3%) | ||||||||
American Express Co. | 4,922,582 | 582,242,999 | ||||||
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Electronic Equipment Communications (1.3%) | ||||||||
Trimble Inc. q | 5,903,000 | 229,095,430 | ||||||
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Equity Real Estate Investment Trusts (4.8%) | ||||||||
AvalonBay Communities Inc. | 807,560 | 173,891,895 | ||||||
Digital Realty Trust Inc. | 2,436,367 | 316,264,800 | ||||||
Iron Mountain Inc. | 5,307,077 | 171,896,224 | ||||||
Public Storage | 713,332 | 174,958,940 | ||||||
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837,011,859 | ||||||||
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Food & Staples Retailing (6.2%) | ||||||||
Costco Wholesale Corp. | 2,010,893 | 579,358,382 | ||||||
Sysco Corp. | 6,446,727 | 511,870,124 | ||||||
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1,091,228,506 | ||||||||
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Food Products (2.0%) | ||||||||
Mondelez International Inc., Class A | 6,430,813 | 355,752,575 | ||||||
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Health Care Equipment (6.0%) | ||||||||
Danaher Corp. | 4,285,814 | 619,000,116 | ||||||
Hologic Inc. q | 8,813,027 | 444,969,733 | ||||||
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1,063,969,849 | ||||||||
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Health Care Providers & Services (2.5%) | ||||||||
CVS Health Corp. | 7,063,783 | 445,512,794 | ||||||
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Health Care Technology (2.8%) | ||||||||
Cerner Corp. q | 7,173,550 | 489,020,904 | ||||||
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Household Products (5.9%) | ||||||||
The Clorox Company | 3,579,544 | 543,625,347 | ||||||
The Procter & Gamble Co. | 3,940,698 | 490,144,017 | ||||||
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1,033,769,364 | ||||||||
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Interactive Media & Services (2.2%) | ||||||||
Alphabet Inc., Class A q | 309,801 | 378,310,393 | ||||||
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IT Services (3.5%) | ||||||||
Mastercard Inc., Class A | 2,274,275 | 617,624,862 | ||||||
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Machinery (5.4%) | ||||||||
Deere & Co. | 2,125,278 | 358,491,893 | ||||||
Pentair plc | 6,665,457 | 251,954,275 | ||||||
Xylem Inc. | 4,302,734 | 342,583,681 | ||||||
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953,029,849 | ||||||||
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Media (4.6%) | ||||||||
The Walt Disney Co. | 6,223,534 | 811,050,951 | ||||||
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Professional Services (3.2%) | ||||||||
Verisk Analytics Inc. | 3,538,461 | 559,572,222 | ||||||
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Semiconductor Equipment (1.9%) | ||||||||
NVIDIA Corp. | 1,918,356 | 333,928,229 | ||||||
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Snack & Juice Bars (0.9%) | ||||||||
Starbucks Corp. | 1,815,884 | 160,560,463 | ||||||
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Software (11.0%) | ||||||||
Cadence Design Systems Inc. q | 6,251,344 | 413,088,811 | ||||||
Microsoft Corp. | 7,759,296 | 1,078,774,923 | ||||||
Synopsys Inc. q | 3,115,816 | 427,645,746 | ||||||
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1,919,509,480 | ||||||||
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Technology Hardware (2.3%) | ||||||||
Apple Inc. | 1,786,978 | 400,229,463 | ||||||
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Total investment in equities (97.9%) | ||||||||
(cost $12,682,783,521) | 17,192,693,225 | |||||||
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Short-Term Securities | Interest Rate | Maturity Date | Principal ($) | Market Value ($) | ||||||||||||
Certificates of Deposit (0.0%)α | ||||||||||||||||
Providence Bank & Trust | 0.50 | % | 09/24/2020 | 250,000 | 240,191 | |||||||||||
Self-Help Federal Credit Union | 1.85 | % | 10/15/2019 | 250,000 | 249,617 | |||||||||||
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489,808 | ||||||||||||||||
Certificates of Deposit Account Registry Service (0.0%)α |
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CDARS agreement with Beneficial State Bank, | 1.52 | % | 03/12/2020 | 2,000,000 | 1,964,176 | |||||||||||
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Community Development Loans (0.0%)α | ||||||||||||||||
BlueHub Loan Fund | 1.00 | % | 04/15/2020 | 100,000 | 96,770 | |||||||||||
MicroVest Plus, LP Note | 2.25 | % | 12/15/2020 | 7,500,000 | 7,407,787 | |||||||||||
New Hampshire Community Loan Fund | 1.00 | % | 07/31/2020 | 500,000 | 475,014 | |||||||||||
Root Capital Loan Fund | 1.25 | % | 02/01/2020 | 200,000 | 195,924 | |||||||||||
TMC Development Working Solutions | 1.00 | % | 05/25/2020 | 100,000 | 96,114 | |||||||||||
Vermont Community Loan Fund | 1.00 | % | 04/15/2020 | 100,000 | 96,770 | |||||||||||
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8,368,379 | ||||||||||||||||
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Time Deposits (2.2%) | ||||||||||||||||
BBH Cash Management Service | ||||||||||||||||
Citibank, New York | 1.25 | % | 10/01/2019 | 200,000,000 | 200,000,000 | |||||||||||
JPMorgan Chase, New York | 1.25 | % | 10/01/2019 | 182,595,428 | 182,595,428 | |||||||||||
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382,595,428 | ||||||||||||||||
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Total short-term securities (2.2%) | ||||||||||||||||
(cost $393,417,791) | 393,417,791 | |||||||||||||||
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Total securities (100.1%) | ||||||||||||||||
(cost $13,076,201,312) | 17,586,111,016 | |||||||||||||||
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Other assets and liabilities(-0.1%) | (24,739,854 | ) | ||||||||||||||
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Total net assets (100.0%) | 17,561,371,162 | |||||||||||||||
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q | This security isnon-income producing. | |
a | Market value adjustments have been applied to these securities to reflect potential early withdrawal. | |
plc | Public Limited Company |