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Parnassus Mid Cap Fund Institutional Shares

PFPMX · NASDAQ

Market closed$41.68$-0.570000 (-1.35%)

Key statistics

Previous close$42.25
Open$41.68
Day high$41.68
Day low$41.68
52-week high$43.18
52-week low$36.66
Market cap2.53B
Volume—
Average volume—
P/E ratio25.34
Forward P/E—
EPS1.65
Dividend yield0.00%

What is happening

Recent company-specific developments and publisher coverage.

July 16, 2026Parnassus Mid Cap Fund closed slightly lower, edging down modestly after Wall Street ended mixed as tech stocks weighed on broader indexes. The fund released its Q2 2026 commentary, highlighting a strong 14.64% net return for the quarter that outpaced the Russell Midcap Index's 13.83% gain — a notable outperformance driven by the buoyant market environment. The financial sector backdrop remains constructive, with major asset managers and custodian banks reporting strong Q2 earnings fueled by record client assets, rising equity markets, and surging investment banking activity, all of which benefit mid-cap fund valuations.

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July 15, 2026Parnassus Mid Cap Fund Institutional Shares edged lower amid a mixed session for the broader financial services sector, even as major asset managers posted strong results. BlackRock beat Q2 2026 estimates with EPS of $13.91 (vs. $12.57 expected) and iShares surpassing $6 trillion in AUM, while Morgan Stanley reported record Q2 results with client assets topping $10 trillion. The fund's modest decline reflects ongoing sector headwinds — including AI disruption concerns for financial services flagged by Morningstar — alongside macro uncertainty from persistent inflation and US-Iran geopolitical tensions weighing on mid-cap equities broadly.

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July 14, 2026Parnassus Mid Cap Fund Institutional Shares edged slightly lower, with the financial services sector facing mixed headwinds as investors weighed a cooler-than-expected June CPI print against renewed Iran-related geopolitical tensions and elevated market valuations. While Wall Street banks like JPMorgan and Goldman Sachs reported record Q2 profits fueled by surging dealmaking and trading activity, Morningstar noted financial stocks have lagged the broader market over the past year amid AI disruption fears and cracks in private credit — a backdrop weighing on asset managers. The XLF sector ETF also closed modestly lower in after-hours trading.

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July 10, 2026Parnassus Mid Cap Fund Institutional Shares rose amid a broadly constructive session for U.S. equities, with the S&P 500 drifting near its 52-week high as geopolitical tensions from the ongoing U.S.-Iran conflict showed signs of stabilization after earlier market volatility. The fund's gain outpaced the financial sector ETF (XLF), which closed essentially flat, as improving investor sentiment around active mid-cap equity strategies and strong Q1 earnings results from asset management peers — including BNY's record revenue quarter and Affiliated Managers Group's positive earnings trajectory — supported the broader asset management space ahead of Q2 bank earnings season.

1.6456

July 8, 2026Parnassus Mid Cap Fund Institutional Shares declined as a broad risk-off wave swept markets, triggered by escalating U.S.-Iran tensions after President Trump declared the Iran MOU 'over,' sending oil surging over 5% and pushing investors out of equities. The broader S&P 500 also pulled back amid geopolitical uncertainty, rising Treasury yields, and a tech-led selloff driven by semiconductor weakness, creating headwinds for actively managed mid-cap funds with equity exposure.

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July 2, 2026Parnassus Mid Cap Fund Institutional Shares closed modestly lower, dragged down by a broadly cautious market tone as investors awaited the June U.S. jobs report and digested mixed macro signals. Asset management peers faced headwinds after a rough Q1 earnings season — with firms like Carlyle, Blackstone, and Artisan Partners all trading lower since reporting — while the broader finance sector, despite a strong Q2, underperformed the S&P 500's 15.5% quarterly return. Macro uncertainty around Fed rate hike expectations and softening private payrolls data weighed on sentiment across financial services.

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Seeking Alpha · July 16, 2026Parnassus Mid Cap Fund Q2 2026 CommentaryBusiness Wire · April 30, 2026Millennials Seek Early Retirement and Values-Aligned Investments, but Lack Investing Confidence

Peers

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