PARNASSUS MID CAP FUND
Portfolio of Investments as of March 31, 2023 (unaudited)
Equities | Shares | Market Value ($) | ||||||
Air Freight & Logistics (3.4%) | ||||||||
C.H. Robinson Worldwide Inc. | 1,989,767 | 197,723,147 | ||||||
|
| |||||||
Biotechnology (2.3%) | ||||||||
BioMarin Pharmaceutical Inc. q | 1,363,955 | 132,630,984 | ||||||
|
| |||||||
Capital Markets (6.4%) | ||||||||
Cboe Global Markets Inc. | 1,788,903 | 240,142,339 | ||||||
The Bank of New York Mellon Corp. | 2,941,223 | 133,649,173 | ||||||
|
| |||||||
373,791,512 | ||||||||
Chemicals (4.2%) | ||||||||
Nutrien Ltd. | 1,192,088 | 88,035,699 | ||||||
The Sherwin-Williams Co. | 701,395 | 157,652,554 | ||||||
|
| |||||||
245,688,253 | ||||||||
Commercial Services & Supplies (3.7%) | ||||||||
Republic Services Inc. | 1,597,010 | 215,947,692 | ||||||
|
| |||||||
Containers & Packaging (3.0%) | ||||||||
Ball Corp. W | 3,183,667 | 175,451,888 | ||||||
|
| |||||||
Distributors (1.4%) | ||||||||
Pool Corp. | 245,893 | 84,203,599 | ||||||
|
| |||||||
Electric Utilities (2.2%) | ||||||||
IDACORP Inc. | 1,185,502 | 128,425,432 | ||||||
|
| |||||||
Electronic Equipment, Instruments & Components (0.5%) | ||||||||
Trimble Inc. q | 620,049 | 32,502,969 | ||||||
|
| |||||||
Equity Real Estate Investment Trusts (4.1%) | ||||||||
Alexandria Real Estate Equities Inc. | 487,211 | 61,188,829 | ||||||
SBA Communications Corp., Class A | 687,234 | 179,416,180 | ||||||
|
| |||||||
240,605,009 | ||||||||
Food & Staples Retailing (7.2%) | ||||||||
Grocery Outlet Holding Corp. qW | 6,022,813 | 170,204,695 | ||||||
Sysco Corp. | 3,265,011 | 252,156,800 | ||||||
|
| |||||||
422,361,495 | ||||||||
Health Care Equipment & Supplies (5.2%) | ||||||||
Hologic Inc. q | 3,786,427 | 305,564,659 | ||||||
|
| |||||||
Household Durables (2.1%) | ||||||||
D.R. Horton Inc. | 1,236,643 | 120,807,655 | ||||||
|
| |||||||
IT Services (6.7%) | ||||||||
Amdocs Ltd. | 1,219,691 | 117,126,927 | ||||||
Broadridge Financial Solutions Inc. | 1,087,400 | 159,380,218 | ||||||
Jack Henry & Associates Inc. | 797,001 | 120,123,991 | ||||||
|
| |||||||
396,631,136 | ||||||||
Life Sciences Tools & Services (5.2%) | ||||||||
Agilent Technologies Inc. | 1,197,216 | 165,622,861 | ||||||
IQVIA Holdings Inc. q | 702,600 | 139,740,114 | ||||||
|
| |||||||
305,362,975 |
Machinery (12.2%) | ||||||||
CNH Industrial N.V. | 15,410,297 | 235,315,235 | ||||||
Otis Worldwide Corp. | 3,084,331 | 260,317,536 | ||||||
Pentair plc | 1,388,453 | 76,739,797 | ||||||
Xylem Inc. | 1,379,769 | 144,461,814 | ||||||
|
| |||||||
716,834,382 | ||||||||
Professional Services (3.3%) | ||||||||
Verisk Analytics Inc. | 1,010,766 | 193,925,565 | ||||||
|
| |||||||
Semiconductors & Semiconductor Equipment (3.5%) |
| |||||||
KLA Corp. | 308,117 | 122,991,063 | ||||||
Lam Research Corp. | 160,864 | 85,277,224 | ||||||
|
| |||||||
208,268,287 | ||||||||
Software (12.0%) | ||||||||
Ansys Inc. q | 363,676 | 121,031,373 | ||||||
Autodesk Inc. q | 593,940 | 123,634,550 | ||||||
Roper Technologies Inc. | 395,347 | 174,225,469 | ||||||
Synopsys Inc. q | 214,487 | 82,845,604 | ||||||
Workday Inc., Class A q | 976,481 | 201,682,386 | ||||||
|
| |||||||
703,419,382 | ||||||||
Specialty Retail (4.7%) | ||||||||
Burlington Stores Inc. q | 424,619 | 85,815,500 | ||||||
O’Reilly Automotive Inc. q | 217,885 | 184,980,007 | ||||||
|
| |||||||
270,795,507 | ||||||||
Technology Hardware, Storage & Peripherals (1.0%) |
| |||||||
Western Digital Corp. q | 1,484,647 | 55,926,653 | ||||||
|
| |||||||
Textiles, Apparel & Luxury Goods (0.8%) | ||||||||
VF Corp. | 2,162,672 | 49,546,816 | ||||||
|
| |||||||
Transportation Infrastructure (3.2%) | ||||||||
Avantor Inc. q | 8,893,417 | 188,006,835 | ||||||
|
| |||||||
Total investment in equities (98.3%) | 5,764,421,832 | |||||||
|
|
Short-Term Securities | Interest Rate | Maturity Date | Principal Amount ($) | Market Value ($) | ||||||||||||
Certificates of Deposit (0.0%) α | ||||||||||||||||
Beneficial State Bank | 0.30 | % | 04/25/2023 | 250,000 | 249,342 | |||||||||||
Beneficial State Bank | 4.00 | % | 03/27/2024 | 250,000 | 240,137 | |||||||||||
Citizens Trust Bank | 0.05 | % | 01/14/2024 | 250,000 | 242,110 | |||||||||||
Self-Help Federal Credit Union | 3.56 | % | 02/17/2024 | 250,000 | 241,178 | |||||||||||
|
| |||||||||||||||
972,767 | ||||||||||||||||
Community Development Loans (0.0%) α | ||||||||||||||||
BlueHub Loan Fund Inc. | 1.00 | % | 04/15/2023 | 300,000 | 299,310 | |||||||||||
|
| |||||||||||||||
Time Deposits (1.5%) | ||||||||||||||||
Citibank, New York | 4.18 | % | 04/03/2023 | 86,441,303 | 86,441,303 | |||||||||||
|
| |||||||||||||||
Total short-term securities (1.5%) | 87,713,380 | |||||||||||||||
|
| |||||||||||||||
Total securities (99.8%) | 5,852,135,212 | |||||||||||||||
|
| |||||||||||||||
Other assets and liabilities (0.2%) | 10,927,193 | |||||||||||||||
|
| |||||||||||||||
Total net assets (100.0%) | 5,863,062,405 | |||||||||||||||
|
|
θ | This security is non-income producing. |
Ω | Fund ownership consists of 5% or more of the shares outstanding of the Affiliated Issuer, as defined under the Investment Securities Act of 1940. |
α | Market value adjustments have been applied to these securities to reflect potential early withdrawal. Such securities have been classified as level 3. |
N.V. | Naamloze Vennootschap |
plc | Public Limited Company |
PARNASSUS MID CAP GROWTH FUND
Portfolio of Investments as of March 31, 2023 (unaudited)
Equities | Shares | Market Value ($) | ||||||
Biotechnology (1.9%) | ||||||||
BioMarin Pharmaceutical Inc. q | 142,279 | 13,835,210 | ||||||
|
| |||||||
Capital Markets (2.6%) | ||||||||
Morningstar Inc. | 94,728 | 19,232,626 | ||||||
|
| |||||||
Chemicals (4.2%) | ||||||||
Nutrien Ltd. | 188,197 | 13,898,348 | ||||||
The Sherwin-Williams Co. | 72,133 | 16,213,334 | ||||||
|
| |||||||
30,111,682 | ||||||||
Commercial Services & Supplies (1.9%) | ||||||||
Cintas Corp. | 30,581 | 14,149,217 | ||||||
|
| |||||||
Containers & Packaging (2.7%) | ||||||||
Ball Corp. W | 361,763 | 19,936,759 | ||||||
|
| |||||||
Distributors (2.8%) | ||||||||
Pool Corp. | 58,899 | 20,169,374 | ||||||
|
| |||||||
Health Care Equipment & Supplies (6.4%) | ||||||||
Align Technology Inc. q | 65,432 | 21,863,448 | ||||||
IDEXX Laboratories Inc. q | 48,983 | 24,495,419 | ||||||
|
| |||||||
46,358,867 | ||||||||
Health Care Technology (4.2%) | ||||||||
Veeva Systems Inc., Class A q | 167,429 | 30,771,776 | ||||||
|
| |||||||
Hotels, Restaurants & Leisure (2.1%) | ||||||||
Hilton Worldwide Holdings Inc. | 108,531 | 15,288,762 | ||||||
|
| |||||||
Insurance (2.2%) | ||||||||
The Progressive Corp. | 113,566 | 16,246,752 | ||||||
|
| |||||||
Internet & Direct Marketing Retail (4.6%) | ||||||||
MercadoLibre Inc. q | 25,730 | 33,913,684 | ||||||
|
|
IT Services (2.3%) | ||||||||||||||||
Broadridge Financial Solutions Inc. | 115,119 | 16,872,992 | ||||||||||||||
|
| |||||||||||||||
Life Sciences Tools & Services (6.1%) | ||||||||||||||||
Agilent Technologies Inc. | 118,676 | 16,417,638 | ||||||||||||||
Illumina Inc. q | 121,637 | 28,286,684 | ||||||||||||||
|
| |||||||||||||||
44,704,322 | ||||||||||||||||
Media (2.4%) | ||||||||||||||||
The Trade Desk Inc., Class A q | 285,430 | 17,385,541 | ||||||||||||||
|
| |||||||||||||||
Professional Services (7.2%) | ||||||||||||||||
CoStar Group Inc. q | 257,115 | 17,702,368 | ||||||||||||||
Equifax Inc. | 81,629 | 16,557,626 | ||||||||||||||
Verisk Analytics Inc. | 94,320 | 18,096,235 | ||||||||||||||
|
| |||||||||||||||
52,356,229 | ||||||||||||||||
Road & Rail (2.1%) | ||||||||||||||||
Old Dominion Freight Line Inc. | 44,283 | 15,093,418 | ||||||||||||||
|
| |||||||||||||||
Semiconductors & Semiconductor Equipment (7.9%) |
| |||||||||||||||
KLA Corp. | 35,771 | 14,278,710 | ||||||||||||||
Lam Research Corp. | 27,246 | 14,443,649 | ||||||||||||||
Monolithic Power Systems Inc. | 28,318 | 14,174,292 | ||||||||||||||
Teradyne Inc. | 131,331 | 14,119,396 | ||||||||||||||
|
| |||||||||||||||
57,016,047 | ||||||||||||||||
Software (27.3%) | ||||||||||||||||
Ansys Inc. q | 84,527 | 28,130,585 | ||||||||||||||
Cadence Design Systems Inc. q | 54,507 | 11,451,376 | ||||||||||||||
Five9 Inc. q | 225,571 | 16,306,528 | ||||||||||||||
Fortinet Inc. q | 483,695 | 32,146,370 | ||||||||||||||
Guidewire Software Inc. q | 423,353 | 34,736,114 | ||||||||||||||
Splunk Inc. q | 368,382 | 35,320,466 | ||||||||||||||
Synopsys Inc. q | 31,644 | 12,222,495 | ||||||||||||||
Workday Inc., Class A q | 133,563 | 27,586,102 | ||||||||||||||
|
| |||||||||||||||
197,900,036 | ||||||||||||||||
Specialty Retail (3.0%) | ||||||||||||||||
O’Reilly Automotive Inc. q | 26,154 | 22,204,223 | ||||||||||||||
|
| |||||||||||||||
Technology Hardware, Storage & Peripherals (2.4%) |
| |||||||||||||||
Western Digital Corp. q | 470,262 | 17,714,769 | ||||||||||||||
|
| |||||||||||||||
Textiles, Apparel & Luxury Goods (2.0%) | ||||||||||||||||
Lululemon Athletica Inc. q | 39,157 | 14,260,588 | ||||||||||||||
|
| |||||||||||||||
Total investment in equities (98.3%) | 715,522,874 | |||||||||||||||
|
|
Short-Term Securities | Interest Rate | Maturity Date | Principal Amount ($) | Market Value ($) | ||||||||||||
Certificates of Deposit (0.1%) α | ||||||||||||||||
Beneficial State Bank | 3.50 | % | 01/15/2024 | 250,000 | 242,082 | |||||||||||
Citizens Trust Bank | 0.05 | % | 01/14/2024 | 200,000 | 193,688 | |||||||||||
|
| |||||||||||||||
435,770 | ||||||||||||||||
Certificates of Deposit Account Registry Service (0.1%) α | ||||||||||||||||
CDARS agreement with Beneficial State Bank, dated 03/16/2023 | 4.00 | % | 03/14/2024 | 500,000 | 480,879 | |||||||||||
|
| |||||||||||||||
Community Development Loans (0.0%) α | ||||||||||||||||
BlueHub Loan Fund Inc. | 1.00 | % | 04/15/2023 | 100,000 | 99,770 | |||||||||||
BlueHub Loan Fund Inc. | 1.00 | % | 04/15/2023 | 100,000 | 99,770 | |||||||||||
Root Capital Inc. | 1.00 | % | 02/01/2024 | 100,000 | 94,967 | |||||||||||
Vermont Community Loan Fund Inc. | 0.50 | % | 10/15/2023 | 100,000 | 96,762 | |||||||||||
|
| |||||||||||||||
391,269 | ||||||||||||||||
Time Deposits (1.6%) | ||||||||||||||||
BBVA, Madrid | 4.18 | % | 04/03/2023 | 11,895,943 | 11,895,943 | |||||||||||
|
| |||||||||||||||
Total short-term securities (1.8%) (cost $13,203,861) | 13,203,861 | |||||||||||||||
|
| |||||||||||||||
Total securities (100.1%) (cost $589,068,248) | 728,726,735 | |||||||||||||||
|
| |||||||||||||||
Other assets and liabilities (-0.1%) | (554,816 | ) | ||||||||||||||
|
| |||||||||||||||
Total net assets (100.0%) | 728,171,919 | |||||||||||||||
|
|
θ | This security is non-income producing. |
Ω | Fund ownership consists of 5% or more of the shares outstanding of the Affiliated Issuer, as defined under the Investment Securities Act of 1940. |
α | Market value adjustments have been applied to these securities to reflect potential early withdrawal. Such securities have been classified as level 3. |
PARNASSUS VALUE EQUITY FUND Portfolio of Investments as of March 31, 2023 (unaudited) |
| |||||||
| ||||||||
Equities | Shares | Market Value ($) | ||||||
Air Freight & Logistics (2.3%) | ||||||||
FedEx Corp. | 459,685 | 105,033,426 | ||||||
|
| |||||||
Banks (4.3%) | ||||||||
Bank of America Corp. | 3,938,303 | 112,635,466 | ||||||
Citigroup Inc. | 1,922,087 | 90,126,659 | ||||||
|
| |||||||
202,762,125 | ||||||||
Biotechnology (8.8%) | ||||||||
Biogen Inc. q | 305,808 | 85,023,798 | ||||||
BioMarin Pharmaceutical Inc. q | 832,295 | 80,932,366 | ||||||
Gilead Sciences Inc. | 1,738,122 | 144,211,982 | ||||||
Moderna Inc. q | 644,208 | 98,937,465 | ||||||
|
| |||||||
409,105,611 | ||||||||
Capital Markets (7.4%) | ||||||||
CME Group Inc., Class A | 169,694 | 32,499,795 | ||||||
S&P Global Inc. | 331,514 | 114,296,082 | ||||||
The Bank of New York Mellon Corp. | 2,444,145 | 111,061,949 | ||||||
The Charles Schwab Corp. | 1,695,957 | 88,834,228 | ||||||
|
| |||||||
346,692,054 | ||||||||
Chemicals (1.5%) | ||||||||
International Flavors & Fragrances Inc. | 772,359 | 71,026,134 | ||||||
|
| |||||||
Communications Equipment (2.8%) | ||||||||
Cisco Systems Inc. | 2,517,772 | 131,616,531 | ||||||
|
| |||||||
Consumer Finance (3.7%) | ||||||||
American Express Co. | 642,639 | 106,003,303 | ||||||
Capital One Financial Corp. | 700,000 | 67,312,000 | ||||||
|
| |||||||
173,315,303 | ||||||||
Containers & Packaging (2.7%) | ||||||||
Ball Corp. W | 2,295,707 | 126,516,413 | ||||||
|
| |||||||
Diversified Telecommunication Services (2.9%) | ||||||||
Verizon Communications Inc. | 3,521,415 | 136,947,829 | ||||||
|
| |||||||
Equity Real Estate Investment Trusts (2.2%) | ||||||||
Simon Property Group Inc. | 913,815 | 102,319,866 | ||||||
|
| |||||||
Food & Staples Retailing (3.3%) | ||||||||
Sysco Corp. | 1,975,976 | 152,604,626 | ||||||
|
| |||||||
Health Care Equipment & Supplies (3.9%) | ||||||||
Align Technology Inc. q | 295,375 | 98,696,603 | ||||||
Baxter International Inc. | 2,086,730 | 84,637,769 | ||||||
|
| |||||||
183,334,372 | ||||||||
Household Durables (3.1%) | ||||||||
D.R. Horton Inc. | 1,482,209 | 144,796,997 | ||||||
|
| |||||||
Insurance (2.8%) | ||||||||
The Progressive Corp. | 911,671 | 130,423,653 | ||||||
|
| |||||||
Interactive Media & Services (2.2%) | ||||||||
Alphabet Inc., Class A q | 993,078 | 103,011,981 | ||||||
|
| |||||||
IT Services (9.0%) | ||||||||
Accenture plc, Class A | 257,851 | 73,696,394 | ||||||
Amdocs Ltd. | 1,048,646 | 100,701,475 | ||||||
Global Payments Inc. | 1,128,745 | 118,789,124 | ||||||
Mastercard Inc., Class A | 300,000 | 109,023,000 | ||||||
Paychex Inc. | 175,000 | 20,053,250 | ||||||
|
| |||||||
422,263,243 | ||||||||
Life Sciences Tools & Services (2.4%) | ||||||||
Agilent Technologies Inc. | 796,434 | 110,178,680 | ||||||
|
| |||||||
Machinery (4.9%) | ||||||||
Cummins Inc. | 455,464 | 108,801,240 | ||||||
Deere & Co. | 287,730 | 118,797,962 | ||||||
|
| |||||||
227,599,202 | ||||||||
Media (2.8%) | ||||||||
Comcast Corp., Class A | 3,428,863 | 129,988,196 | ||||||
|
| |||||||
Multiline Retail (2.2%) | ||||||||
Target Corp. | 630,045 | 104,354,353 | ||||||
|
|
Pharmaceuticals (4.4%) | ||||||||||||||||
Merck & Co., Inc. | 1,931,707 | 205,514,308 | ||||||||||||||
|
| |||||||||||||||
Road & Rail (1.9%) | ||||||||||||||||
Union Pacific Corp. | 436,475 | 87,844,959 | ||||||||||||||
|
| |||||||||||||||
Semiconductors & Semiconductor Equipment (2.9%) |
| |||||||||||||||
Applied Materials Inc. | 222,448 | 27,323,288 | ||||||||||||||
Micron Technology Inc. | 1,796,456 | 108,398,155 | ||||||||||||||
|
| |||||||||||||||
135,721,443 | ||||||||||||||||
Software (5.0%) | ||||||||||||||||
Microsoft Corp. | 369,967 | 106,661,486 | ||||||||||||||
Oracle Corp. | 1,358,062 | 126,191,121 | ||||||||||||||
|
| |||||||||||||||
232,852,607 | ||||||||||||||||
Specialty Retail (3.2%) | ||||||||||||||||
Ross Stores Inc. | 979,200 | 103,922,496 | ||||||||||||||
The Gap Inc. | 4,729,419 | 47,483,367 | ||||||||||||||
|
| |||||||||||||||
151,405,863 | ||||||||||||||||
Technology Hardware, Storage & Peripherals (3.1%) |
| |||||||||||||||
Apple Inc. | 283,318 | 46,719,138 | ||||||||||||||
Western Digital Corp. q | 2,560,322 | 96,447,330 | ||||||||||||||
|
| |||||||||||||||
143,166,468 | ||||||||||||||||
Textiles, Apparel & Luxury Goods (1.0%) | ||||||||||||||||
VF Corp. | 2,124,793 | 48,679,008 | ||||||||||||||
|
| |||||||||||||||
Trading Companies & Distributors (1.7%) | ||||||||||||||||
W.W. Grainger Inc. | 115,186 | 79,341,269 | ||||||||||||||
|
| |||||||||||||||
Total investment in equities (98.4%) | 4,598,416,520 | |||||||||||||||
|
| |||||||||||||||
Short-Term Securities | Interest Rate | Maturity Date | Principal Amount ($) | Market Value ($) | ||||||||||||
Certificates of Deposit (0.0%) α | ||||||||||||||||
Citizens Trust Bank | 0.05 | % | 10/06/2023 | 250,000 | 244,849 | |||||||||||
Community Vision Capital & Consulting | 0.25 | % | 03/31/2024 | 250,000 | 235,041 | |||||||||||
Self-Help Federal Credit Union | 3.56 | % | 02/25/2024 | 250,000 | 240,959 | |||||||||||
|
| |||||||||||||||
720,849 | ||||||||||||||||
Certificates of Deposit Account Registry Service (0.0%) α |
| |||||||||||||||
CDARS agreement with Beneficial State Bank, dated 03/16/2023 | 4.00 | % | 03/14/2024 | 500,000 | 480,879 | |||||||||||
|
| |||||||||||||||
Community Development Loans (0.0%) α | ||||||||||||||||
Root Capital Inc. | 1.00 | % | 02/01/2024 | 100,000 | 94,970 | |||||||||||
|
| |||||||||||||||
Time Deposits (1.0%) | ||||||||||||||||
Barclays, London | 4.18 | % | 04/03/2023 | 45,638,081 | 45,638,081 | |||||||||||
|
| |||||||||||||||
Total short-term securities (1.0%) | 46,934,779 | |||||||||||||||
|
| |||||||||||||||
Total securities (99.4%) | 4,645,351,299 | |||||||||||||||
|
|
Other assets and liabilities (0.6%) | 29,530,134 | |||
|
| |||
Total net assets (100.0%) | 4,674,881,433 | |||
|
|
θ | This security is non-income producing. |
Ω | Fund ownership consists of 5% or more of the shares outstanding of the Affiliated Issuer, as defined under the Investment Securities Act of 1940. |
α | Market value adjustments have been applied to these securities to reflect potential early withdrawal. Such securities have been classified as level 3. |
plc | Public Limited Company |
PARNASSUS GROWTH EQUITY FUND | ||||||||
Portfolio of Investments as of March 31, 2023 (unaudited) | ||||||||
Equities | Shares | Market Value ($) | ||||||
Automobiles (1.7%) | ||||||||
Stellantis N.V. | 15,542 | 282,709 | ||||||
|
| |||||||
Biotechnology (1.5%) | ||||||||
Vertex Pharmaceuticals Inc. q | 766 | 241,344 | ||||||
|
| |||||||
Capital Markets (4.4%) | ||||||||
Ares Management Corp., Class A | 4,192 | 349,780 | ||||||
S&P Global Inc. | 1,097 | 378,213 | ||||||
|
| |||||||
727,993 | ||||||||
Chemicals (2.5%) | ||||||||
Linde plc | 457 | 162,436 | ||||||
The Sherwin-Williams Co. | 1,103 | 247,921 | ||||||
|
| |||||||
410,357 | ||||||||
Equity Real Estate Investment Trusts (1.4%) | ||||||||
SBA Communications Corp., Class A | 877 | 228,958 | ||||||
|
| |||||||
Food & Staples Retailing (2.3%) | ||||||||
Costco Wholesale Corp. | 744 | 369,671 | ||||||
|
| |||||||
Food Products (2.0%) | ||||||||
Hershey Co. | 1,276 | 324,627 | ||||||
|
| |||||||
Health Care Equipment & Supplies (4.3%) | ||||||||
Boston Scientific Corp. q | 8,073 | 403,892 | ||||||
DexCom Inc. q | 2,534 | 294,400 | ||||||
|
| |||||||
698,292 | ||||||||
Health Care Providers & Services (2.0%) | ||||||||
UnitedHealth Group Inc. | 678 | 320,416 | ||||||
|
| |||||||
Hotels, Restaurants & Leisure (3.7%) | ||||||||
Airbnb Inc., Class A q | 1,887 | 234,743 | ||||||
Planet Fitness Inc., Class A q | 4,787 | 371,806 | ||||||
|
| |||||||
606,549 |
Household Products (1.5%) | ||||||||
Colgate-Palmolive Co. | 3,152 | 236,873 | ||||||
|
| |||||||
Interactive Media & Services (4.6%) | ||||||||
Alphabet Inc., Class A q | 7,255 | 752,561 | ||||||
|
| |||||||
Internet & Direct Marketing Retail (6.0%) | ||||||||
Amazon.com Inc. q | 9,412 | 972,165 | ||||||
|
| |||||||
IT Services (6.3%) | ||||||||
Cloudflare Inc., Class A q | 4,596 | 283,389 | ||||||
Visa Inc. | 3,362 | 757,997 | ||||||
|
| |||||||
1,041,386 | ||||||||
Life Sciences Tools & Services (3.3%) | ||||||||
Thermo Fisher Scientific Inc. | 934 | 538,330 | ||||||
|
| |||||||
Machinery (1.4%) | ||||||||
Deere & Co. | 562 | 232,039 | ||||||
|
| |||||||
Pharmaceuticals (4.6%) | ||||||||
AstraZeneca plc, ADR | 5,831 | 404,730 | ||||||
Eli Lilly & Co. | 1,031 | 354,066 | ||||||
|
| |||||||
758,796 | ||||||||
Professional Services (1.7%) | ||||||||
Verisk Analytics Inc. | 1,409 | 270,331 | ||||||
|
| |||||||
Road & Rail (3.1%) | ||||||||
Canadian Pacific Railway Ltd. | 3,324 | 255,749 | ||||||
Old Dominion Freight Line Inc. | 718 | 244,723 | ||||||
|
| |||||||
500,472 | ||||||||
Semiconductors & Semiconductor Equipment (9.6%) | ||||||||
Advanced Micro Devices Inc. q | 3,817 | 374,104 | ||||||
Applied Materials Inc. | 1,925 | 236,448 | ||||||
ASML Holding N.V., ADR | 342 | 232,803 | ||||||
NVIDIA Corp. | 1,412 | 392,211 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 3,531 | 328,454 | ||||||
|
| |||||||
1,564,020 | ||||||||
Software (21.1%) | ||||||||
Microsoft Corp. | 5,692 | 1,641,004 | ||||||
Procore Technologies Inc. q | 7,349 | 460,268 | ||||||
PTC Inc. q | 3,544 | 454,447 | ||||||
Salesforce Inc. q | 1,797 | 359,005 | ||||||
ServiceNow Inc. q | 499 | 231,895 | ||||||
Workday Inc., Class A q | 1,409 | 291,015 | ||||||
|
| |||||||
3,437,634 | ||||||||
Technology Hardware, Storage & Peripherals (4.7%) | ||||||||
Apple Inc. | 4,659 | 768,269 | ||||||
|
| |||||||
Textiles, Apparel & Luxury Goods (4.9%) | ||||||||
LVMH Moet Hennessy Louis Vuitton ADR | 2,212 | 406,411 | ||||||
Nike Inc., Class B | 3,177 | 389,627 | ||||||
|
| |||||||
796,038 | ||||||||
Total investment in equities (98.6%) | 16,079,830 | |||||||
|
|
Short-Term Securities | Interest Rate | Maturity Date | Principal Amount ($) | Market Value ($) | ||||||||||||
Time Deposits (3.5%) | ||||||||||||||||
JPMorgan Chase, New York | 4.18 | % | 04/03/2023 | 568,167 | 568,167 | |||||||||||
|
| |||||||||||||||
Total short-term securities (3.5%) | 568,167 | |||||||||||||||
|
| |||||||||||||||
Total securities (102.1%) | 16,647,997 | |||||||||||||||
|
| |||||||||||||||
Other assets and liabilities (-2.1%) | (339,283 | ) | ||||||||||||||
|
| |||||||||||||||
Total net assets (100.0%) | 16,308,714 | |||||||||||||||
|
|
N.V. | Naamloze Vennootschap |
plc | Public Limited Company |
ADR | American Depositary Receipt |
PARNASSUS CORE EQUITY FUND
Portfolio of Investments as of March 31, 2023 (unaudited)
Equities | Shares | Market Value ($) | ||||||
Banks (2.8%) | ||||||||
Bank of America Corp. | 24,960,876 | 713,881,054 | ||||||
|
| |||||||
Biotechnology (2.8%) | ||||||||
Gilead Sciences Inc. | 8,448,783 | 700,995,526 | ||||||
|
| |||||||
Capital Markets (9.2%) | ||||||||
CME Group Inc., Class A | 4,091,686 | 783,639,703 | ||||||
Intercontinental Exchange Inc. | 5,630,489 | 587,203,698 | ||||||
S&P Global Inc. | 1,756,000 | 605,416,120 | ||||||
The Charles Schwab Corp. | 6,694,648 | 350,665,662 | ||||||
|
| |||||||
2,326,925,183 | ||||||||
Chemicals (5.8%) | ||||||||
Linde plc | 2,332,094 | 828,919,491 | ||||||
Nutrien Ltd. | 3,312,359 | 244,617,712 | ||||||
The Sherwin-Williams Co. | 1,809,386 | 406,695,691 | ||||||
|
| |||||||
1,480,232,894 | ||||||||
Commercial Services & Supplies (2.5%) | ||||||||
Waste Management Inc. | 3,971,331 | 648,002,079 | ||||||
|
| |||||||
Containers & Packaging (2.6%) | ||||||||
Ball Corp. W | 11,805,203 | 650,584,737 | ||||||
|
| |||||||
Equity Real Estate Investment Trusts (1.4%) | ||||||||
American Tower Corp. | 1,733,780 | 354,280,605 | ||||||
|
| |||||||
Food & Staples Retailing (4.2%) | ||||||||
Costco Wholesale Corp. | 1,062,873 | 528,109,708 | ||||||
Sysco Corp. | 6,864,337 | 530,132,747 | ||||||
|
| |||||||
1,058,242,455 | ||||||||
Food Products (2.6%) | ||||||||
Mondelez International Inc., Class A | 9,368,546 | 653,175,027 | ||||||
|
| |||||||
Health Care Equipment & Supplies (2.4%) | ||||||||
Becton, Dickinson and Co. | 2,405,930 | 595,563,912 | ||||||
|
| |||||||
Household Durables (1.3%) | ||||||||
D.R. Horton Inc. | 3,290,016 | 321,401,663 | ||||||
|
| |||||||
Household Products (2.9%) | ||||||||
The Procter & Gamble Co. | 5,039,444 | 749,314,928 | ||||||
|
|
Insurance (2.3%) | ||||||||
Marsh & McLennan Co., Inc. | 3,521,857 | 586,565,283 | ||||||
|
| |||||||
Interactive Media & Services (4.4%) | ||||||||
Alphabet Inc., Class A q | 10,847,993 | 1,125,262,314 | ||||||
|
| |||||||
IT Services (6.1%) | ||||||||
Fiserv Inc. q | 5,604,124 | 633,434,136 | ||||||
Mastercard Inc., Class A | 2,511,947 | 912,866,659 | ||||||
|
| |||||||
1,546,300,795 | ||||||||
Life Sciences Tools & Services (4.7%) | ||||||||
Danaher Corp. | 2,382,889 | 600,583,344 | ||||||
Thermo Fisher Scientific Inc. | 1,030,280 | 593,822,484 | ||||||
|
| |||||||
1,194,405,828 | ||||||||
Machinery (3.9%) | ||||||||
Deere & Co. | 2,374,200 | 980,259,696 | ||||||
|
| |||||||
Multiline Retail (1.1%) | ||||||||
Target Corp. | 1,702,206 | 281,936,380 | ||||||
|
| |||||||
Pharmaceuticals (1.5%) | ||||||||
Roche Holding AG (ADR) | 10,526,411 | 377,477,098 | ||||||
|
| |||||||
Professional Services (2.1%) | ||||||||
Verisk Analytics Inc. | 2,777,479 | 532,887,121 | ||||||
|
| |||||||
Road & Rail (2.1%) | ||||||||
Canadian Pacific Railway Ltd. | 7,044,943 | 542,037,914 | ||||||
|
| |||||||
Semiconductors & Semiconductor Equipment (6.5%) | ||||||||
Applied Materials Inc. | 4,434,589 | 544,700,567 | ||||||
Micron Technology Inc. | 5,166,815 | 311,765,617 | ||||||
NVIDIA Corp. | 1,152,047 | 320,004,095 | ||||||
Texas Instruments Inc. | 2,501,486 | 465,301,411 | ||||||
|
| |||||||
1,641,771,690 | ||||||||
Software (15.4%) | ||||||||
Adobe Inc. q | 919,624 | 354,395,501 | ||||||
Microsoft Corp. | 5,946,554 | 1,714,391,518 | ||||||
Oracle Corp. | 9,242,752 | 858,836,516 | ||||||
Salesforce Inc. q | 4,911,099 | 981,139,358 | ||||||
|
| |||||||
3,908,762,893 | ||||||||
Specialty Retail (0.5%) | ||||||||
Autozone Inc. q | 50,289 | 123,617,905 | ||||||
|
| |||||||
Technology Hardware, Storage & Peripherals (3.5%) | ||||||||
Apple Inc. | 5,327,965 | 878,581,429 | ||||||
|
| |||||||
Wireless Telecommunication Services (1.7%) | ||||||||
T-Mobile US Inc. q | 3,018,452 | 437,192,588 | ||||||
|
| |||||||
Total investment in equities (96.3%) | 24,409,658,997 | |||||||
|
|
Short-Term Securities | Interest Rate | Maturity Date | Principal Amount ($) | Market Value ($) | ||||||||||||
Certificates of Deposit (0.0%) α | ||||||||||||||||
Citizens Trust Bank | 0.05 | % | 01/14/2024 | 250,000 | 242,109 | |||||||||||
Community Vision Capital & Consulting | 0.25 | % | 01/31/2024 | 250,000 | 237,466 | |||||||||||
Self-Help Federal Credit Union | 3.56 | % | 02/17/2024 | 1,000,000 | 964,712 | |||||||||||
Self-Help Federal Credit Union | 1.50 | % | 10/16/2023 | 250,000 | 244,575 | |||||||||||
|
| |||||||||||||||
1,688,862 | ||||||||||||||||
Certificates of Deposit Account Registry Service (0.0%) α |
| |||||||||||||||
CDARS agreement with Beneficial State Bank, dated 03/16/2023 Participating depository institutions: | 4.00 | % | 03/14/2024 | 2,000,000 | 1,923,516 | |||||||||||
|
| |||||||||||||||
Community Development Loans (0.0%) α | ||||||||||||||||
BlueHub Loan Fund Inc. | 1.00 | % | 04/15/2023 | 100,000 | 897,929 | |||||||||||
BlueHub Loan Fund Inc. | 1.00 | % | 04/15/2023 | 900,000 | 99,770 | |||||||||||
New Hampshire Community Loan Fund Inc. | 1.00 | % | 07/31/2023 | 500,000 | 490,055 | |||||||||||
Root Capital Inc. | 1.00 | % | 02/01/2024 | 200,000 | 189,940 | |||||||||||
Vermont Community Loan Fund Inc. | 0.50 | % | 04/15/2023 | 100,000 | 99,770 | |||||||||||
|
| |||||||||||||||
1,777,464 | ||||||||||||||||
Time Deposits (2.9%) | ||||||||||||||||
ANZ, London | 1.00 | % | 07/31/2023 | 200,000,000 | 200,000,000 | |||||||||||
Barclays, London | 1.00 | % | 02/01/2024 | 84,954,683 | 84,954,683 | |||||||||||
BBVA, Madrid | 0.50 | % | 04/15/2023 | 187,567,441 | 187,567,441 | |||||||||||
JPMorgan Chase, New York | 1.00 | % | 02/01/2024 | 66,069,225 | 200,000,000 | |||||||||||
Royal Bank of Canada, Toronto | 3.69 | % | 04/03/2023 | 66,069,225 | 66,069,225 | |||||||||||
|
| |||||||||||||||
738,591,349 | ||||||||||||||||
Total short-term securities (2.9%) | 743,981,191 | |||||||||||||||
|
| |||||||||||||||
Total securities (99.2%) | 25,153,640,188 | |||||||||||||||
|
| |||||||||||||||
Other assets and liabilities (0.8%) | 210,216,141 | |||||||||||||||
|
| |||||||||||||||
Total net assets (100.0%) | 25,363,856,329 | |||||||||||||||
|
|
Ω | Fund ownership consists of 5% or more of the shares outstanding of the Affiliated Issuer, as defined under the Investment Securities Act of 1940. |
θ | This security is non-income producing. |
α | 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 |
ADR | American Depositary Receipt |
PARNASSUS FIXED INCOME FUND
Portfolio of Investments as of March 31, 2023 (unaudited)
Preferred Stocks | Interest Rate | Maturity Date | Shares | Market Value ($) | ||||||||||||
Capital Markets (1.4%) | ||||||||||||||||
Morgan Stanley | 4.25 | % | 01/15/2027 | 100,000 | 1,895,000 | |||||||||||
The Charles Schwab Corp. l | 4.45 | % | 06/01/2026 | 103,049 | 1,990,907 | |||||||||||
|
| |||||||||||||||
3,885,907 | ||||||||||||||||
Equity Real Estate Investment Trusts (1.4%) | ||||||||||||||||
Public Storage | 3.88 | % | 10/06/2025 | 22,966 | 417,981 | |||||||||||
Public Storage l | 4.00 | % | 06/16/2026 | 136,587 | 2,522,762 | |||||||||||
Public Storage | 4.10 | % | 01/13/2027 | 48,626 | 900,067 | |||||||||||
|
| |||||||||||||||
3,840,810 | ||||||||||||||||
|
| |||||||||||||||
Total investment in preferred stocks (2.8%) | 7,726,717 | |||||||||||||||
|
| |||||||||||||||
Convertible Bonds | Interest Rate | Maturity Date | Principal Amount ($) | Market Value ($) | ||||||||||||
Electrical Equipment (0.7%) | ||||||||||||||||
Sunrun Inc. | 0.00 | % | 02/01/2026 | 2,800,000 | 1,849,400 | |||||||||||
|
| |||||||||||||||
Total investment in convertible bonds (0.7%) | 1,849,400 | |||||||||||||||
|
|
Corporate Bonds | Interest Rate | Maturity Date | Principal Amount ($) | Market Value ($) | ||||||||||
Air Freight & Logistics (2.6%) | ||||||||||||||
C.H. Robinson Worldwide Inc. | 4.20 | % | 04/15/2028 | 4,000,000 | 3,842,825 | |||||||||
FedEx Corp. | 4.25 | % | 05/15/2030 | 1,750,000 | 1,699,100 | |||||||||
FedEx Corp. | 4.75 | % | 11/15/2045 | 1,750,000 | 1,578,693 | |||||||||
|
| |||||||||||||
7,120,618 | ||||||||||||||
Airlines (2.4%) | ||||||||||||||
Alaska Airlines 2020-1, Class B | 8.00 | % | 08/15/2025 | 3,569,918 | 3,625,507 | |||||||||
Alaska Airlines 2020-1, Class A | 4.80 | % | 08/15/2027 | 126,053 | 122,232 | |||||||||
Southwest Airlines Co. | 5.13 | % | 06/15/2027 | 3,000,000 | 2,987,368 | |||||||||
|
| |||||||||||||
6,735,107 | ||||||||||||||
Auto Components (1.4%) | ||||||||||||||
APTIV plc | 2.40 | % | 02/18/2025 | 1,000,000 | 952,084 | |||||||||
APTIV plc | 5.40 | % | 03/15/2049 | 2,000,000 | 1,785,672 | |||||||||
APTIV plc | 4.15 | % | 05/01/2052 | 1,500,000 | 1,169,383 | |||||||||
|
| |||||||||||||
3,907,139 | ||||||||||||||
Banks (2.3%) | ||||||||||||||
Bank of America Corp. | 1.53 | % | 12/06/2025 | 2,000,000 | 1,868,971 | |||||||||
Bank of America Corp. | 3.85 | % | 03/08/2037 | 1,000,000 | 851,979 | |||||||||
Citigroup Inc. | 2.01 | % | 01/25/2026 | 4,000,000 | 3,764,237 | |||||||||
|
| |||||||||||||
6,485,187 | ||||||||||||||
Building Products (1.4%) | ||||||||||||||
Masco Corp. | 3.50 | % | 11/15/2027 | 2,000,000 | 1,884,612 | |||||||||
Masco Corp. | 4.50 | % | 05/15/2047 | 2,500,000 | 2,083,484 | |||||||||
|
| |||||||||||||
3,968,096 | ||||||||||||||
Capital Markets (1.4%) | ||||||||||||||
Morgan Stanley | 2.72 | % | 07/22/2025 | 2,500,000 | 2,411,070 | |||||||||
The Charles Schwab Corp. | 3.75 | % | 04/01/2024 | 1,500,000 | 1,471,063 | |||||||||
|
| |||||||||||||
3,882,133 | ||||||||||||||
Chemicals (1.3%) | ||||||||||||||
The Sherwin-Williams Co. | 4.50 | % | 06/01/2047 | 4,000,000 | 3,516,873 | |||||||||
|
| |||||||||||||
Consumer Finance (3.7%) | ||||||||||||||
American Express Co. | 4.05 | % | 05/03/2029 | 4,000,000 | 3,897,121 | |||||||||
Capital One Financial Corp. | 2.62 | % | 11/02/2032 | 3,000,000 | 2,284,525 | |||||||||
Discover Financial Services | 4.50 | % | 01/30/2026 | 3,500,000 | 3,375,008 | |||||||||
Discover Financial Services | 4.10 | % | 02/09/2027 | 1,000,000 | 944,381 | |||||||||
|
| |||||||||||||
10,501,035 | ||||||||||||||
Containers & Packaging (1.6%) | ||||||||||||||
Ball Corp. | 4.88 | % | 03/15/2026 | 4,500,000 | 4,471,200 | |||||||||
|
|
Electronic Equipment, Instruments & Components (1.4%) |
| |||||||||||||||
Trimble Inc. | 4.90 | % | 06/15/2028 | 4,000,000 | 3,971,625 | |||||||||||
|
| |||||||||||||||
Equity Real Estate Investment Trusts (5.8%) | ||||||||||||||||
Alexandria Real Estate Equities Inc. | 2.00 | % | 05/18/2032 | 3,000,000 | 2,306,585 | |||||||||||
Alexandria Real Estate Equities Inc. | 4.85 | % | 04/15/2049 | 1,750,000 | 1,512,758 | |||||||||||
American Tower Corp. | 2.40 | % | 03/15/2025 | 2,000,000 | 1,899,103 | |||||||||||
American Tower Corp. | 2.70 | % | 04/15/2031 | 2,250,000 | 1,874,428 | |||||||||||
Digital Realty Trust Inc. | 3.60 | % | 07/01/2029 | 1,000,000 | 896,913 | |||||||||||
Regency Centers LP | 3.75 | % | 06/15/2024 | 2,000,000 | 1,953,313 | |||||||||||
Regency Centers LP | 4.40 | % | 02/01/2047 | 2,400,000 | 1,950,492 | |||||||||||
SBA Communications Corp. | 3.88 | % | 02/15/2027 | 4,000,000 | 3,757,341 | |||||||||||
|
| |||||||||||||||
16,150,933 | ||||||||||||||||
Food & Staples Retailing (1.9%) | ||||||||||||||||
Sysco Corp. | 2.40 | % | 02/15/2030 | 6,000,000 | 5,214,500 | |||||||||||
|
| |||||||||||||||
Food Products (1.5%) | ||||||||||||||||
McCormick & Co., Inc. | 2.50 | % | 04/15/2030 | 5,000,000 | 4,264,718 | |||||||||||
|
| |||||||||||||||
Health Care Equipment & Supplies (2.1%) | ||||||||||||||||
Baxter International Inc. | 2.54 | % | 02/01/2032 | 3,000,000 | 2,440,599 | |||||||||||
Becton, Dickinson and Co. | 3.36 | % | 06/06/2024 | 2,000,000 | 1,962,502 | |||||||||||
Becton, Dickinson and Co. | 4.69 | % | 12/15/2044 | 1,500,000 | 1,393,284 | |||||||||||
|
| |||||||||||||||
5,796,385 | ||||||||||||||||
Hotels, Restaurants & Leisure (1.2%) | ||||||||||||||||
Hilton Domestic Operating Company Inc. | 3.75 | % | 05/01/2029 | 3,684,000 | 3,287,970 | |||||||||||
|
| |||||||||||||||
Industrial Conglomerates (1.1%) | ||||||||||||||||
Roper Technologies Inc. | 2.95 | % | 09/15/2029 | 3,500,000 | 3,127,317 | |||||||||||
|
| |||||||||||||||
Interactive Media & Services (0.7%) | ||||||||||||||||
Alphabet Inc. | 1.10 | % | 08/15/2030 | 1,500,000 | 1,227,375 | |||||||||||
Alphabet Inc. | 2.05 | % | 08/15/2050 | 1,500,000 | 949,542 | |||||||||||
|
| |||||||||||||||
2,176,917 | ||||||||||||||||
Internet & Direct Marketing Retail (1.1%) | ||||||||||||||||
Booking Holdings Inc. | 4.63 | % | 04/13/2030 | 3,000,000 | 2,996,859 | |||||||||||
|
| |||||||||||||||
IT Services (3.6%) | ||||||||||||||||
Fiserv Inc. | 3.85 | % | 06/01/2025 | 2,500,000 | 2,446,899 | |||||||||||
Fiserv Inc. | 4.40 | % | 07/01/2049 | 1,500,000 | 1,272,980 | |||||||||||
Global Payments Inc. | 5.95 | % | 08/15/2052 | 4,000,000 | 3,791,364 | |||||||||||
Visa Inc. | 0.75 | % | 08/15/2027 | 2,500,000 | 2,157,995 | |||||||||||
|
| |||||||||||||||
9,669,238 | ||||||||||||||||
Life Sciences Tools & Services (1.5%) | ||||||||||||||||
Agilent Technologies Inc. | 2.75 | % | 09/15/2029 | 4,750,000 | 4,244,498 | |||||||||||
|
| |||||||||||||||
Machinery (4.1%) | ||||||||||||||||
CNH Industrial Capital LLC | 1.45 | % | 07/15/2026 | 4,500,000 | 4,026,036 | |||||||||||
Pentair Finance SA | 4.50 | % | 07/01/2029 | 4,500,000 | 4,256,956 | |||||||||||
Xylem Inc. | 2.25 | % | 01/30/2031 | 4,000,000 | 3,335,942 | |||||||||||
|
| |||||||||||||||
11,618,934 |
Multiline Retail (1.0%) | ||||||||||||||
Macy’s Retail Holdings LLC l | 5.88 | % | 04/01/2029 | 3,000,000 | 2,774,970 | |||||||||
|
| |||||||||||||
Pharmaceuticals (0.9%) | ||||||||||||||
Merck & Co. Inc. | 1.90 | % | 12/10/2028 | 2,750,000 | 2,435,869 | |||||||||
|
| |||||||||||||
Road & Rail (1.6%) | ||||||||||||||
Kansas City Southern | 2.88 | % | 11/15/2029 | 2,000,000 | 1,790,721 | |||||||||
Kansas City Southern | 4.70 | % | 05/01/2048 | 3,000,000 | 2,738,047 | |||||||||
|
| |||||||||||||
4,528,768 | ||||||||||||||
Semiconductors & Semiconductor Equipment (2.3%) |
| |||||||||||||
Micron Technology Inc. | 2.70 | % | 04/15/2032 | 5,000,000 | 4,001,346 | |||||||||
Qorvo Inc. | 3.38 | % | 04/01/2031 | 3,000,000 | 2,481,780 | |||||||||
|
| |||||||||||||
6,483,126 | ||||||||||||||
Software (3.9%) | ||||||||||||||
Autodesk Inc. | 2.85 | % | 01/15/2030 | 1,250,000 | 1,102,107 | |||||||||
Autodesk Inc. | 2.40 | % | 12/15/2031 | 3,500,000 | 2,909,588 | |||||||||
Oracle Corp. | 6.13 | % | 07/08/2039 | 4,000,000 | 4,156,565 | |||||||||
PTC Inc. | 4.00 | % | 02/15/2028 | 3,000,000 | 2,803,398 | |||||||||
|
| |||||||||||||
10,971,658 | ||||||||||||||
Specialty Retail (3.5%) | ||||||||||||||
Lowe’s Companies Inc. | 4.50 | % | 04/15/2030 | 3,000,000 | 2,963,230 | |||||||||
O’Reilly Automotive Inc. | 4.20 | % | 04/01/2030 | 4,000,000 | 3,843,916 | |||||||||
Ross Stores Inc. | 4.80 | % | 04/15/2030 | 3,000,000 | 2,888,179 | |||||||||
|
| |||||||||||||
9,695,325 | ||||||||||||||
Textiles, Apparel & Luxury Goods (2.6%) | ||||||||||||||
Hanesbrands Inc. | 4.88 | % | 05/15/2026 | 4,500,000 | 4,263,750 | |||||||||
VF Corp. | 6.00 | % | 10/15/2033 | 2,000,000 | 1,973,033 | |||||||||
VF Corp. | 6.45 | % | 11/01/2037 | 1,000,000 | 1,030,856 | |||||||||
|
| |||||||||||||
7,267,639 | ||||||||||||||
Transportation Infrastructure (1.4%) | ||||||||||||||
Avantor Funding Inc. | 4.63 | % | 07/15/2028 | 4,000,000 | 3,796,360 | |||||||||
|
| |||||||||||||
Wireless Telecommunication Services (1.3%) | ||||||||||||||
T-Mobile USA Inc. | 2.25 | % | 02/15/2026 | 1,500,000 | 1,395,279 | |||||||||
T-Mobile USA Inc. | 4.38 | % | 04/15/2040 | 2,500,000 | 2,237,406 | |||||||||
|
| |||||||||||||
3,632,685 | ||||||||||||||
Total investment in corporate bonds (62.6%) | 174,693,682 | |||||||||||||
|
|
Supranational Bonds | Interest Rate | Maturity Date | Principal Amount ($) | Market Value ($) | ||||||||||||
European Bank for Reconstruction & Development | 1.50 | % | 02/13/2025 | 2,000,000 | 1,903,985 | |||||||||||
European Investment Bank | 1.63 | % | 10/09/2029 | 2,000,000 | 1,762,640 | |||||||||||
European Investment Bank | 0.75 | % | 09/23/2030 | 2,000,000 | 1,627,703 | |||||||||||
International Bank for Reconstruction & Development | 3.13 | % | 11/20/2025 | 4,000,000 | 3,914,120 | |||||||||||
International Bank for Reconstruction & Development | 1.63 | % | 11/03/2031 | 5,000,000 | 4,256,379 | |||||||||||
International Finance Corp. | 2.13 | % | 04/07/2026 | 6,000,000 | 5,693,399 | |||||||||||
|
| |||||||||||||||
Total investment in supranational bonds (6.9%) | 19,158,226 | |||||||||||||||
|
| |||||||||||||||
U.S. Government Agency Bonds | Interest Rate | Maturity Date | Principal Amount ($) | Market Value ($) | ||||||||||||
Federal Home Loan Bank | 3.33 | % | 06/27/2025 | 4,000,000 | 3,906,683 | |||||||||||
Federal Home Loan Bank | 0.50 | % | 07/28/2025 | 5,000,000 | 4,601,193 | |||||||||||
|
| |||||||||||||||
Total investment in U.S. government agency bonds (3.1%) |
| 8,507,876 | ||||||||||||||
|
| |||||||||||||||
U.S. Government Treasury Bonds | Interest Rate | Maturity Date | Principal Amount ($) | Market Value ($) | ||||||||||||
U.S. Treasury | 2.50 | % | 01/31/2024 | 2,000,000 | 1,963,984 | |||||||||||
U.S. Treasury | 2.13 | % | 03/31/2024 | 2,000,000 | 1,951,328 | |||||||||||
U.S. Treasury | 2.50 | % | 05/31/2024 | 4,000,000 | 3,908,906 | |||||||||||
U.S. Treasury | 2.00 | % | 05/31/2024 | 1,000,000 | 971,719 | |||||||||||
U.S. Treasury | 1.75 | % | 06/30/2024 | 2,000,000 | 1,935,234 | |||||||||||
U.S. Treasury | 2.25 | % | 11/15/2024 | 3,000,000 | 2,904,727 | |||||||||||
U.S. Treasury | 1.50 | % | 11/30/2024 | 2,000,000 | 1,912,031 | |||||||||||
U.S. Treasury | 2.00 | % | 02/15/2025 | 3,000,000 | 2,882,695 | |||||||||||
U.S. Treasury | 3.88 | % | 03/31/2025 | 4,000,000 | 3,985,781 | |||||||||||
U.S. Treasury | 0.25 | % | 06/30/2025 | 2,000,000 | 1,842,109 | |||||||||||
U.S. Treasury | 2.25 | % | 11/15/2025 | 3,000,000 | 2,875,664 | |||||||||||
U.S. Treasury | 0.38 | % | 12/31/2025 | 2,000,000 | 1,821,563 | |||||||||||
U.S. Treasury | 1.88 | % | 07/31/2026 | 2,000,000 | 1,880,078 | |||||||||||
U.S. Treasury | 3.25 | % | 05/15/2042 | 5,000,000 | 4,606,055 | |||||||||||
U.S. Treasury | 4.00 | % | 11/15/2042 | 4,500,000 | 4,615,313 | |||||||||||
U.S. Treasury | 2.00 | % | 02/15/2050 | 4,000,000 | 2,823,281 | |||||||||||
U.S. Treasury | 1.25 | % | 05/15/2050 | 2,500,000 | 1,446,387 | |||||||||||
U.S. Treasury | 1.88 | % | 11/15/2051 | 2,000,000 | 1,355,547 | |||||||||||
U.S. Treasury | 3.00 | % | 08/15/5052 | 4,000,000 | 3,498,125 | |||||||||||
U.S. Treasury (TIPS) | 0.38 | % | 07/15/2025 | 1,262,260 | 1,233,951 | |||||||||||
U.S. Treasury (TIPS) | 1.75 | % | 01/15/2028 | 1,428,840 | 1,461,249 | |||||||||||
U.S. Treasury (TIPS) | 0.63 | % | 02/15/2043 | 2,603,940 | 2,195,309 | |||||||||||
|
| |||||||||||||||
Total investment in U.S. government treasury bonds (19.6%) |
| 54,071,036 | ||||||||||||||
|
| |||||||||||||||
Total investment in long-term securities (95.7%) |
| 266,006,937 | ||||||||||||||
|
|
Short-Term Securities | Interest Rate | Maturity Date | Principal Amount ($) | Market Value ($) | ||||||||||||
Certificates of Deposit (0.2%) α | ||||||||||||||||
Beneficial State Bank | 1.10 | % | 10/23/2023 | 250,000 | 243,512 | |||||||||||
Citizens Trust Bank | 0.05 | % | 10/06/2023 | 250,000 | 244,849 | |||||||||||
|
| |||||||||||||||
488,361 | ||||||||||||||||
Time Deposits (2.3%) | ||||||||||||||||
Citibank, New York | 3.69 | % | 04/03/2023 | 6,480,133 | 6,480,133 | |||||||||||
|
| |||||||||||||||
Securities Purchased with Cash Collateral from Securities Lending |
| |||||||||||||||
Registered Investment Companies (1.2%) | ||||||||||||||||
Invesco Aim Government & Agency Portfolio | ||||||||||||||||
Short-Term Investments Trust, Institutional Class | 4.58 | % | 3,462,587 | |||||||||||||
|
| |||||||||||||||
Total short-term securities (3.7%) | 10,431,081 | |||||||||||||||
|
| |||||||||||||||
Total securities (99.4%) | 276,438,018 | |||||||||||||||
|
| |||||||||||||||
Payable upon return of securities loaned (-1.2%) | (3,462,587 | ) | ||||||||||||||
|
| |||||||||||||||
Other assets and liabilities (1.8%) | 4,981,436 | |||||||||||||||
|
| |||||||||||||||
Total net assets (100.0%) | 277,956,867 | |||||||||||||||
|
|
λ | This security, or partial position of this security, was on loan at March 31, 2023. The total value of the securities on loan at March 31, 2023 was $3,552,058 |
α | Market value adjustments have been applied to these securities to reflect potential early withdrawal. Such securities have been classified as level 3. |
plc | Public Limited Company |
LLC | Limited Liability Company |
LP | Limited Partnership |
TIPS | Treasury Inflation Protected Security |