PARNASSUS CORE EQUITY FUND
Portfolio of Investments as of March 31, 2022 (unaudited)
Equities | Shares | Market Value ($) | ||||||
Biotechnology (1.5%) | ||||||||
Gilead Sciences Inc. | 7,542,335 | 448,391,816 | ||||||
|
| |||||||
Capital Markets (11.5%) | ||||||||
CME Group Inc., Class A | 5,062,381 | 1,204,137,945 | ||||||
Intercontinental Exchange Inc. | 3,300,866 | 436,110,416 | ||||||
S&P Global Inc. | 2,597,371 | 1,065,389,637 | ||||||
The Charles Schwab Corp. | 9,497,745 | 800,754,881 | ||||||
|
| |||||||
3,506,392,879 | ||||||||
Chemicals (4.1%) | ||||||||
Linde plc | 2,474,530 | 790,439,118 | ||||||
The Sherwin Williams Co. | 1,862,242 | 464,852,848 | ||||||
|
| |||||||
1,255,291,966 | ||||||||
Commercial Services & Supplies (2.1%) | ||||||||
Waste Management Inc. | 3,971,331 | 629,455,963 | ||||||
|
| |||||||
Containers & Packaging (2.3%) | ||||||||
Ball Corp. | 7,665,093 | 689,858,370 | ||||||
|
| |||||||
Diversified Telecommunication Services (1.5%) | ||||||||
Verizon Communications Inc. | 8,702,221 | 443,291,138 | ||||||
|
| |||||||
Equity Real Estate Investment Trusts (3.4%) | ||||||||
Alexandria Real Estate Equities Inc. l | 2,100,486 | 422,722,807 | ||||||
American Tower Corp. | 2,445,771 | 614,426,591 | ||||||
|
| |||||||
1,037,149,398 | ||||||||
Food & Staples Retailing (2.6%) | ||||||||
Costco Wholesale Corp. l | 1,351,209 | 778,093,703 | ||||||
|
| |||||||
Food Products (1.8%) | ||||||||
Mondelez International Inc., Class A | 8,770,197 | 550,592,968 | ||||||
|
| |||||||
Health Care Equipment & Supplies (5.5%) | ||||||||
Becton, Dickinson and Co. | 4,010,763 | 1,066,862,958 | ||||||
Boston Scientific Corp. q | 13,311,329 | 589,558,761 | ||||||
|
| |||||||
1,656,421,719 | ||||||||
Hotels Restaurants & Leisure (2.0%) | ||||||||
Booking Holdings Inc. q | 254,802 | 598,389,757 | ||||||
|
| |||||||
Household Products (2.5%) | ||||||||
The Procter & Gamble Co. | 5,039,444 | 770,027,043 | ||||||
|
|
Equities | Shares | Market Value ($) | ||||||
Interactive Media & Services (6.4%) | ||||||||
Alphabet Inc., Class A q | 690,980 | 1,921,857,223 | ||||||
|
| |||||||
IT Services (8.1%) | ||||||||
Fiserv Inc. q | 12,672,877 | 1,285,029,728 | ||||||
Mastercard Inc., Class A | 3,211,396 | 1,147,688,702 | ||||||
|
| |||||||
2,432,718,430 | ||||||||
Life Sciences Tools & Services (5.2%) | ||||||||
Danaher Corp. | 3,800,882 | 1,114,912,717 | ||||||
Thermo Fisher Scientific Inc. | 792,766 | 468,247,238 | ||||||
|
| |||||||
1,583,159,955 | ||||||||
Machinery (4.5%) | ||||||||
Deere & Co. | 3,052,181 | 1,268,059,118 | ||||||
Pentair plc | 1,836,813 | 99,573,633 | ||||||
|
| |||||||
1,367,632,751 | ||||||||
Media (2.8%) | ||||||||
Comcast Corp., Class A | 18,231,231 | 853,586,235 | ||||||
|
| |||||||
Professional Services (3.1%) | ||||||||
CoStar Group Inc. q | 4,756,075 | 316,802,156 | ||||||
Verisk Analytics Inc. | 2,995,396 | 642,901,843 | ||||||
|
| |||||||
959,703,999 | ||||||||
Road & Rail (4.1%) | ||||||||
Canadian Pacific Railway Ltd. l | 11,182,599 | 923,011,721 | ||||||
Union Pacific Corp. | 1,113,083 | 304,105,406 | ||||||
|
| |||||||
1,227,117,127 | ||||||||
Semiconductors & Semiconductor Equipment (7.9%) | ||||||||
Applied Materials Inc. | 5,328,395 | 702,282,461 | ||||||
Micron Technology Inc. l | 5,654,866 | 440,457,513 | ||||||
NVIDIA Corp. | 2,271,090 | 619,689,617 | ||||||
Texas Instruments Inc. | 3,444,010 | 631,906,955 | ||||||
|
| |||||||
2,394,336,546 | ||||||||
Software (8.8%) | ||||||||
Adobe Inc. q | 1,118,677 | 509,691,615 | ||||||
Microsoft Corp. l | 6,840,934 | 2,109,128,362 | ||||||
|
| |||||||
2,618,819,977 | ||||||||
Specialty Retail (1.5%) | ||||||||
The Home Depot Inc. | 1,531,970 | 458,564,580 | ||||||
|
| |||||||
Technology Hardware, Storage & Peripherals (3.1%) | ||||||||
Apple Inc. | 5,327,965 | 930,315,969 | ||||||
|
|
Equities | Shares | Market Value ($) | ||||||
Textiles, Apparel & Luxury Goods (1.4%) | ||||||||
Nike Inc., Class B | 3,227,827 | 434,336,401 | ||||||
|
| |||||||
Wireless Telecommunication Services (2.0%) | ||||||||
T-Mobile US Inc. q | 4,727,540 | 606,779,759 | ||||||
|
| |||||||
Total investment in equities (99.7%) (cost $22,349,930,304) | 30,152,285,672 | |||||||
|
|
Short-Term Securities | Interest Rate | Maturity Date | Principal Amount ($) | Market Value ($) | ||||||||||||
Certificates of Deposit (0.0%) a | ||||||||||||||||
Citizens Trust Bank | 0.05% | 01/14/2023 | 250,000 | 241,795 | ||||||||||||
Community Vision Capital & Consulting | 0.50% | 01/31/2023 | 250,000 | 237,466 | ||||||||||||
Self-Help Federal Credit Union | 0.40% | 10/16/2022 | 250,000 | 244,575 | ||||||||||||
Self-Help Federal Credit Union | 0.40% | 02/17/2023 | 1,000,000 | 964,712 | ||||||||||||
|
| |||||||||||||||
1,688,548 | ||||||||||||||||
Certificates of Deposit Account Registry Service (0.0%) a |
| |||||||||||||||
CDARS agreement with Beneficial State Bank, dated 03/17/2022 Participating depository institutions: Chambers Bank, par 238,500; Decatur County Bank, par 238,500; First Commerce Bank, par 46,000; First State Bank of Forsyth, par 24,529; Legacy Bank & Trust Company, par 238,500; Prime Alliance Bank, par 238,500; Texas National Bank of Jacksonville, par 238,500; The Tri-County Bank, par 38,740; United Bank, par 238,500; Waumandee State Bank, par 238,500; West Alabama Bank & Trust, par 221,231; (cost $1,923,297) | 0.73% | 03/16/2023 | 2,000,000 | 1,923,297 | ||||||||||||
|
| |||||||||||||||
Community Development Loans (0.0%) a | ||||||||||||||||
BlueHub Loan Fund Inc. | 1.00% | 04/15/2022 | 100,000 | 99,770 | ||||||||||||
BlueHub Loan Fund Inc. | 1.00% | 04/15/2022 | 900,000 | 897,929 | ||||||||||||
New Hampshire Community Loan Fund Inc. | 1.00% | 07/31/2022 | 500,000 | 490,055 | ||||||||||||
Root Capital Inc. | 1.00% | 02/01/2023 | 200,000 | 184,745 | ||||||||||||
Vermont Community Loan Fund Inc. | 0.75% | 04/15/2022 | 100,000 | 99,770 | ||||||||||||
|
| |||||||||||||||
1,772,269 | ||||||||||||||||
Time Deposits (0.5%) | ||||||||||||||||
BNP Paribas, Paris | 0.15% | 04/01/2022 | 33,423,290 | 33,423,290 | ||||||||||||
National Australia Bank, London | 0.15% | 04/01/2022 | 97,052,485 | 97,052,485 | ||||||||||||
|
| |||||||||||||||
130,475,775 | ||||||||||||||||
Securities Purchased with Cash Collateral from Securities Lending |
| |||||||||||||||
Registered Investment Companies (0.0%) | ||||||||||||||||
Invesco Aim Government & Agency Portfolio | ||||||||||||||||
Short-Term Investments Trust, Institutional Class | 0.15% | 2,378,960 | ||||||||||||||
|
| |||||||||||||||
Total short-term securities (0.5%) (cost $138,238,849) | 138,238,849 | |||||||||||||||
|
| |||||||||||||||
Total securities (100.2%) (cost $22,488,169,153) | 30,290,524,521 | |||||||||||||||
|
| |||||||||||||||
Payable upon return of securities loaned (0.00%) | (2,378,960 | ) | ||||||||||||||
|
| |||||||||||||||
Other assets and liabilities (-0.2%) | (57,200,307 | ) | ||||||||||||||
|
| |||||||||||||||
Total net assets (100.0%) | 30,230,945,254 | |||||||||||||||
|
|
l | This security, or partial position of this security, was on loan at March 31, 2022. The total value of the securities on loan at March 31, 2022 was $2,330,118. |
q | This security is non-income producing. |
a | Market value adjustments have been applied to these securities to reflect potential early withdrawal. Such securities has been classified as level 3. |
plc | Public Limited Company |