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Parnassus Mid Cap Fund

PARMX · NASDAQ

Market closed$41.41$-0.570000 (-1.36%)

Key statistics

Previous close$41.98
Open$41.41
Day high$41.41
Day low$41.41
52-week high$42.90
52-week low$36.45
Market cap2.49B
Volume—
Average volume—
P/E ratio25.33
Forward P/E—
EPS1.63
Dividend yield0.00%

Market context

Why it moved

PARMX edged lower today amid low trading volume and broader market pressure, with no significant catalysts available to support buying interest in the fund.

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What is happening

Recent company-specific developments and publisher coverage.

July 17, 2026Parnassus Mid Cap Fund edged lower after hours, reflecting a broader pullback in equities amid a semiconductor-led selloff and risk-off sentiment tied to Middle East tensions. The fund's recently released Q2 2026 commentary highlighted a strong quarter, with the fund returning 14.64% (net of fees) and outperforming the Russell Midcap Index's 13.83% gain. Investor attention is also focused on the fund's strategic portfolio pivot — adding fintech disruptor Robinhood Markets and cloud data leader Snowflake while exiting Sandisk and Bill.com — though Morningstar's recent downgrade of the fund's People Pillar rating to Average signals some scrutiny of its reorganized management team's ability to execute.

-0.8381

July 16, 2026Parnassus Mid Cap Fund edged lower in after-hours trading, closing the regular session down modestly, even as the broader financial sector near 52-week highs. The fund's Q2 2026 commentary revealed a strong quarter, with the fund returning 14.64% net of fees — outpacing the Russell Midcap Index's 13.83% gain — buoyed by surging financial sector earnings, with major banks posting Q2 EPS beats of 20–45% and record fee income driven by elevated M&A activity, the SpaceX IPO, and rising equity market valuations lifting assets under management industrywide.

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July 15, 2026Parnassus Mid Cap Fund closed down 1.37% as the broader asset management sector faced mixed sentiment despite a strong earnings backdrop for financial services peers. BlackRock beat Q2 estimates with EPS of $13.91 and its iShares unit surpassed $6 trillion in AUM, while Morgan Stanley and Goldman Sachs posted record quarterly results driven by surging trading and investment banking revenues. However, concerns about AI disruption of financial services, private credit strains, and persistent inflation—with 97% of Natixis strategists flagging inflation as a top H2 risk—continued to weigh on asset managers, with Morningstar noting financials as the second-worst-performing group over the past year.

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July 8, 2026Parnassus Mid Cap Fund closed down 1.70% as a broad risk-off selloff swept financial markets, driven by escalating U.S.-Iran military exchanges that sent oil prices surging over 5% and prompted investors to flee equities. The broader S&P 500 retreated amid geopolitical uncertainty, rising Treasury yields, and renewed inflation fears — a challenging backdrop for mid-cap equity funds like Parnassus, which tend to track broad market sentiment. The Financial Select Sector ETF (XLF) also faced pressure, with large-cap bank names like Bank of America and American Express declining ahead of Q2 earnings season, further weighing on financial sector sentiment.

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July 1, 2026Parnassus Mid Cap Fund edged slightly lower as the broader asset management sector navigated a mixed start to the second half of 2026. The finance sector posted an impressive 10.9% Q2 gain, though it lagged the S&P 500's stellar 15.5% quarterly return — its best since 2020 — driven by AI infrastructure optimism, a Middle East truce, and resilient capital markets. On the first trading day of Q3, sentiment cooled as a weaker-than-expected ADP jobs report (98K vs. 118K est.) and hawkish Fed signals from Chair Kevin Warsh kept rate-sensitive asset managers under modest pressure.

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June 29, 2026Parnassus Mid Cap Fund closed essentially unchanged, holding near its 52-week high as the broader financial services sector navigated a mixed session. The fund's steady performance comes amid a market recovery rally driven by reports of a U.S.-Iran ceasefire halting strikes in the Strait of Hormuz, which lifted equity futures and broad indices after last week's sharp tech-led selloff. Analysts note that the rotation away from mega-cap tech toward mid-cap and value-oriented equities — a theme favored by diversified active funds like Parnassus Mid Cap — may be gaining traction as AI sentiment softens and energy prices ease.

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Kavout | AI · July 17, 2026Parnassus Mid Cap Fund Pivots to Disruptive Growth Amidst Internal ShiftsSeeking Alpha · July 16, 2026Parnassus Mid Cap Fund Q2 2026 Commentary

Peers

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