Parnassus Income Funds - Parnassus Core Select ETF
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- Parnassus Income Funds—Parnassus Core Select ETF is an actively managed, non-diversified exchange-traded fund that seeks long-term capital appreciation through a concentrated portfolio of primarily U.S. equity securities. Trading on the NYSE under the ticker PRCS, the Fund applies Parnassus Investments, LLC’s core investment strategy, emphasizing companies with durable competitive advantages, attractive long-term growth prospects, quality management teams, strong financial characteristics and valuations considered favorable by the adviser. Its investable universe principally comprises large-capitalization companies, with portfolio exposure spanning information technology; communication services; consumer discretionary; health care; industrials; financials; real estate and other sectors. The Fund may invest in common stocks, preferred stocks, depositary receipts and other equity-related securities, and typically holds a relatively limited number of issuers compared with broadly diversified equity funds. PRCS is designed for investors seeking actively managed large-cap core equity exposure and is benchmarked against the S&P 500 Index. The Fund distributes income annually and charges a unitary management fee of 0.58% of average daily net assets, under which Parnassus Investments generally bears ordinary operating expenses other than specified excluded expenses. Parnassus Core Select ETF commenced operations on December 11, 2024, and is a series of Parnassus Income Funds, an open-end management investment company advised by Parnassus Investments, LLC. Parnassus Investments is headquartered in San Francisco, California, United States. Recent strategic developments include the December 2024 launch of PRCS as Parnassus Investments’ actively managed concentrated core-equity ETF offering, expanding the adviser’s exchange-traded fund product suite; the subsequent publication of updated statutory and summary prospectuses in April 2025 and April 2026; and continuation of the 0.58% unitary management-fee arrangement through at least May 1, 2026.