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 |