Parnassus Investments, an investment management firm, released its “Parnassus Value Equity Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund focuses on owning a concentrated portfolio of U.S. large-cap stocks. For the third quarter of 2025, the fund reported a net return of 7.46% outperforming its benchmark, the Russell 1000 Value Index, which returned 5.33% for the same period. During the quarter, the portfolio reduced its weight in the IT sector to increase ho ...