Parnassus Mid Cap Fund
PARMX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- One Market #1600 San Francisco CA United States of America 94105
- IPO Date
- Apr 29, 2005
- CIK
- 0000747546
- Website
- parnassus.com
- Similar Companies
- Business
- Parnassus Mid Cap Fund (PARMX) is an open-end mutual fund managed by Parnassus Investments LLC that invests primarily in a high-conviction portfolio of 35 to 45 high-quality U.S. mid-cap stocks selected for long-term growth potential, business resiliency, high returns on capital, solid margins, durable competitive advantages, strong management teams, and sustainable business practices. The fund offers investor shares (PARMX) and institutional shares (PFPMX), benchmarked against the Russell Midcap Index, with a focus on achieving asymmetric risk-adjusted returns by capturing more market upside than downside over a full market cycle; it emphasizes mid-cap core blend style companies across sectors such as information technology, industrials, financials, and consumer discretionary, maintaining an average weighted market cap of approximately $51 billion, P/E ratio of 30.9x, and active share of 92.12% as of September 30, 2025. Launched on April 29, 2005, and domiciled in the United States with headquarters at 1 Market Street, Suite 1600, San Francisco, California, the fund targets long-term investors seeking lower volatility exposure to mid-cap equities complementary to core holdings, with total net assets of approximately $2.57 billion as of December 2025. Portfolio managers include Lori Keith and Matthew Gershuny since October 2008, with Ian Sexsmith added as lead manager on January 1, 2024. The fund maintains 43.5% annual turnover as of 2024 and integrates environmental, social, and governance (ESG) factors consistent with Parnassus Investments' principles-based approach since 1984. It operates exclusively in U.S. equity markets, serving individual and institutional investors through daily pricing and reinvestment of dividends and capital gains. In recent developments, Parnassus Investments, which manages PARMX, partnered with Affiliated Managers Group (AMG) in 2021 to support generational transition while preserving operational independence, bringing ESG-dedicated assets under management to approximately $80 billion at the time. The firm launched its first sustainable ETFs, Parnassus Core ETF (CS) and Parnassus Value Select ETF (PRVS), in December 2024, expanding beyond mutual funds into ETF offerings with high-conviction, ESG-integrated portfolios limited to 25 holdings each. Additionally, in May 2025, Parnassus debuted the Parnassus International Equity Fund (Investor Shares: PRBRX; Institutional Shares: PFPEX), marking its entry into actively managed international large-cap core strategies and broadening geographic diversification for investors.