Parnassus Mid Cap Growth Fund - Investor
PARNX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
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
- Dec 27, 1984
- CIK
- 0000747546
- Website
- parnassus.com
- Similar Companies
- Business
- Parnassus Mid Cap Growth Fund (PARNX) is an open-end mutual fund that seeks capital appreciation by investing at least 80% of its net assets in mid-sized growth companies, normally maintaining a high-conviction portfolio of 35 to 45 high-quality, fast-growing U.S. mid-cap stocks with healthy balance sheets, proven financial models, durable competitive advantages, strong management teams, and sustainable business practices; the fund emphasizes leaders in attractive industries that demonstrate increasing market share, earnings growth potential, and resilience across economic cycles, targeting asymmetric return profiles with full upside capture and reduced downside exposure relative to the Russell Midcap Growth Index. Investor shares feature a net expense ratio of 0.80%, a minimum initial investment of $2,000, and annual turnover of approximately 41.5% as of 2024, with key characteristics including an average weighted market cap of $52.5 billion, P/E ratio of 43.4x, and active share of 79% versus the benchmark as of September 30, 2025. The fund, domiciled in the United States and available primarily to U.S. investors, holds diversified positions across sectors such as technology, industrials, and consumer discretionary, with top recent contributors including Sandisk Corp., Teradyne Inc., and Robinhood Markets Inc., while maintaining approximately 95% in U.S. stocks, 4% in non-U.S. stocks, and minimal cash. One Market Street, Suite 1600, San Francisco serves as the headquarters for Parnassus Investments LLC, the fund's adviser and a pioneer in responsible investing since its founding in 1984 by Jerome Dodson, who retired in 2020; the firm, which manages over $45 billion in assets as of late 2024 across a suite of equity mutual funds including large-cap core, value, growth, mid-cap, and international strategies, entered a strategic partnership in 2021 with Affiliated Managers Group Inc. (AMG), whereby AMG acquired a majority equity interest while Parnassus partners retained substantial ownership and full operational and investment independence. This affiliation enhanced Parnassus's competitive positioning and global distribution capabilities without altering its ESG-integrated, fundamental research-driven approach. Recent developments include a significant long-term capital gain distribution of $4.2403 per share on December 6, 2024, reflecting strong portfolio performance amid market gains, alongside 2025 estimates released for investor planning; the fund received quarterly updates highlighting mid-cap opportunities in AI infrastructure, clean water technologies like PFAS detection and removal, and life sciences tools, with portfolio managers Ian Sexsmith (since 2013) and Robert Klaber (since 2016) emphasizing selective exposure to innovative leaders beyond mega-cap tech trends. Parnassus Investments marked further recognition with a 2025 CIO Magazine Award for Public Equity and issued its 2025 Sustainability & Stewardship Report detailing stewardship engagements on key ESG issues to support long-term value creation. As of November 2025, fund assets stand at approximately $863 million, with year-to-date returns of 11.29% and NAV at $63.98.