PARNASSUS FIXED INCOME FUND

Portfolio of Investments as of March 31, 2021 (unaudited)

Preferred Stocks	Interest Rate			Maturity Date		Shares		Market Value ($)
Banks (0.5%)
Bank of America		5.00	%		09/17/2024		80,000		2,117,600
Equity Real Estate Investment Trusts (1.4%)
Digital Realty Trust Inc.		5.20	%		10/10/2024		79,000		2,105,350
Public Storage		5.15	%		06/02/2022		111,127		2,888,191
Public Storage		3.88	%		10/06/2025		40,000		1,000,400
									5,993,941
Total investment in preferred stocks (1.9%) (cost $7,881,097)									8,111,541
Corporate Bonds	Interest Rate			Maturity Date		Principal Amount ($)		Market Value ($)
Air Freight & Logistics (0.8%)
FedEx Corp.		4.25	%		05/15/2030		1,500,000		1,702,110
FedEx Corp.		4.75	%		11/15/2045		1,500,000		1,751,644
									3,453,754
Airlines (0.7%)
Alaska Air 2020-1 Class B		8.00	%		08/15/2025		2,248,530		2,496,779
Southwest Air 07-1 Trust		6.15	%		08/01/2022		427,299		447,042
									2,943,821
Apparel & Luxury Goods (0.7%)
VF Corp.		2.95	%		04/23/2030		3,000,000		3,104,909
Auto Components (1.3%)
APTIV plc		4.25	%		01/15/2026		2,500,000		2,807,807
APTIV plc		5.40	%		03/15/2049		2,000,000		2,437,523
									5,245,330
Building Products (0.4%)
Masco Corp.		2.00	%		10/01/2030		2,000,000		1,900,374
Capital Markets (0.8%)
Charles Schwab Corp.		4.63	%		03/22/2030		3,000,000		3,526,515
Chemicals (0.3%)
Linde plc		1.10	%		08/10/2030		1,500,000		1,362,931
Commercial Services & Supplies (1.0%)
Waste Management Inc.		3.15	%		11/15/2027		2,500,000		2,703,935
Waste Management Inc.		1.50	%		03/15/2031		2,000,000		1,845,746
									4,549,681
Consumer Durables & Apparel (0.5%)
Nike Inc.		2.75	%		03/27/2027		2,000,000		2,130,090
Consumer Finance (1.3%)
Mastercard Inc.		2.95	%		06/01/2029		5,000,000		5,351,295
Consumer Services (1.4%)
Booking Holdings Inc.		4.63	%		04/13/2030		5,000,000		5,820,466

Containers & Packaging (2.6%)
Ball Corp.	4.88	%	03/15/2026	5,000,000	5,591,550
Sealed Air Corp.	5.25	%	04/01/2023	2,500,000	2,646,875
Sealed Air Corp.	4.00	%	12/01/2027	2,982,000	3,052,823
					11,291,248
Electronic Equipment Instruments (0.8%)
Trimble Inc.	4.90	%	06/15/2028	3,000,000	3,458,864
Equity Real Estate Investment Trusts (3.8%)
Alexandria Real Estate	2.00	%	05/18/2032	3,000,000	2,786,516
Alexandria Real Estate	4.85	%	04/15/2049	1,000,000	1,193,522
American Tower Corp.	2.70	%	04/15/2031	2,000,000	1,998,796
Iron Mountain Inc.	5.25	%	03/15/2028	4,000,000	4,155,000
Regency Centers LP	3.75	%	06/15/2024	2,000,000	2,145,596
Regency Centers LP	3.70	%	06/15/2030	3,000,000	3,204,945
					15,484,375
Financial Data (1.0%)
MSCI Inc.	4.00	%	11/15/2029	4,000,000	4,113,840
Food & Staples Retailing (1.2%)
Mondelez International Inc.	4.13	%	05/07/2028	3,000,000	3,412,733
Mondelez International Inc.	1.50	%	02/04/2031	2,000,000	1,827,646
					5,240,379
Food Products (1.2%)
McCormick & Co.	2.50	%	04/15/2030	5,000,000	4,983,670
Health Care Equipment (3.7%)
Becton Dickinson and Co.	6.70	%	08/01/2028	3,500,000	4,343,961
Becton Dickinson and Co.	4.69	%	12/15/2044	1,500,000	1,782,656
Boston Scientific Corp.	4.00	%	03/01/2029	1,000,000	1,108,340
Danaher Corp.	3.35	%	09/15/2025	2,000,000	2,181,977
Danaher Corp.	4.38	%	09/15/2045	1,000,000	1,161,656
Hologic Inc.	3.25	%	02/15/2029	5,000,000	4,937,500
					15,516,090
Health Care Technology (1.9%)
DH Europe Finance II	3.25	%	11/15/2039	2,000,000	2,034,450
Teleflex Inc.	4.63	%	11/15/2027	500,000	529,375
Teleflex Inc.	4.25	%	06/01/2028	5,500,000	5,699,375
					8,263,200
Hotel Restaurant & Leisure (0.9%)
Hilton Domestic Operating Company Inc.	3.75	%	05/01/2029	1,000,000	990,000
Hilton Domestic Operating Company Inc.	4.88	%	01/15/2030	1,500,000	1,591,200
Hilton Domestic Operating Company Inc.	4.00	%	05/01/2031	1,500,000	1,500,000
					4,081,200
Household Products (0.6%)
The Clorox Co.	1.80	%	05/15/2030	2,500,000	2,376,721
Industrial Conglomerates (1.1%)
Roper Technologies Inc.	2.95	%	09/15/2029	2,000,000	2,081,430
Roper Technologies Inc.	2.00	%	06/30/2030	2,500,000	2,379,186
					4,460,616
Interactive Media & Services (0.6%)
Alphabet Inc.	1.10	%	08/15/2030	3,000,000	2,755,483
Internet & Catalog Retail (0.7%)
Amazon.com Inc.	4.80	%	12/05/2034	2,500,000	3,137,715

IT Services (0.8%)
Fiserv Inc.	2.65	%	06/01/2030	2,000,000	2,012,830
Fiserv Inc.	4.40	%	07/01/2049	1,000,000	1,150,566
					3,163,396
Life Sciences Tools & Services (1.3%)
Agilent Technologies Inc.	2.75	%	09/15/2029	4,750,000	4,860,173
Agilent Technologies Inc.	2.10	%	06/04/2030	1,000,000	977,659
					5,837,832
Machinery (2.9%)
Cummins Inc.	4.88	%	10/01/2043	2,500,000	3,138,280
Pentair Finance SA	4.50	%	07/01/2029	5,000,000	5,684,645
Xylem Inc.	2.25	%	01/30/2031	4,000,000	3,921,769
					12,744,694
Media (1.3%)
Comcast Corp.	4.25	%	10/15/2030	5,000,000	5,741,160
Pharmaceuticals (0.7%)
Merck & Co. Inc.	3.40	%	03/07/2029	2,000,000	2,195,836
Merck & Co. Inc.	2.45	%	06/24/2050	1,000,000	881,957
					3,077,793
Retail (1.2%)
Lowe’s Companies Inc.	4.50	%	04/15/2030	3,000,000	3,458,211
Lowe’s Companies Inc.	3.00	%	10/15/2050	2,000,000	1,856,769
					5,314,980
Road & Rail (1.6%)
Kansas City Southern	2.88	%	11/15/2029	4,000,000	4,086,594
Kansas City Southern	4.70	%	05/01/2048	2,000,000	2,345,772
					6,432,366
Semiconductor (1.7%)
Intel Corp.	4.80	%	10/01/2041	3,000,000	3,713,537
Micron Technology Inc.	5.33	%	02/06/2029	2,775,000	3,262,747
					6,976,284
Semiconductor Equipment (1.3%)
Applied Materials Inc.	1.75	%	06/01/2030	3,500,000	3,360,304
Lam Research Corp.	4.00	%	03/15/2029	2,000,000	2,263,522
					5,623,826
Snack & Juice Bars (1.4%)
Starbucks Corp.	2.45	%	06/15/2026	3,500,000	3,663,473
Starbucks Corp.	2.55	%	11/15/2030	2,000,000	2,002,486
					5,665,959
Software (4.8%)
Adobe Inc.	2.30	%	02/01/2030	4,500,000	4,547,722
Autodesk Inc.	4.38	%	06/15/2025	3,630,000	4,056,178
Autodesk Inc.	2.85	%	01/15/2030	2,250,000	2,307,193
Cadence Design Systems Inc.	4.38	%	10/15/2024	3,940,000	4,371,268
Nuance Communications	5.63	%	12/15/2026	5,000,000	5,243,750
					20,526,111
Specialty Retail (1.2%)
O’Reilly Automotive Inc.	4.20	%	04/01/2030	4,500,000	5,044,448
Technology Hardware (1.3%)
Apple Inc.	2.85	%	02/23/2023	2,000,000	2,088,355
Apple Inc.	4.38	%	05/13/2045	2,750,000	3,293,775
					5,382,130
Telecom Services GIC (1.5%)
Verizon Communications Inc.	4.02	%	12/03/2029	2,000,000	2,234,453
Verizon Communications Inc.	4.27	%	01/15/2036	1,500,000	1,693,736
Verizon Communications Inc.	4.81	%	03/15/2039	2,000,000	2,388,312
					6,316,501

Transportation & Infrastructure (1.3%)
Avantor Funding Inc.		4.63	%		07/15/2028		2,500,000		2,610,900
Burlington Northern Santa Fe Corp.		5.05	%		03/01/2041		2,500,000		3,132,390
									5,743,290
Wireless Telecom Services (2.0%)
T-Mobile USA Inc.		2.25	%		02/15/2026		4,000,000		4,028,760
SBA Communications Corp.		3.88	%		02/15/2027		4,500,000		4,599,900
									8,628,660
Total investment in corporate bonds (55.6%) (cost $242,222,946)									236,771,997
Supranational Bonds	Interest Rate			Maturity Date		Principal Amount ($)		Market Value ($)
European Investment Bank		1.63	%		10/09/2029		2,000,000		1,989,904
European Investment Bank		0.75	%		09/23/2030		2,000,000		1,814,102
International Bank for Reconstruction & Development		3.13	%		11/20/2025		4,000,000		4,393,952
International Finance Corp.		2.00	%		10/24/2022		3,000,000		3,083,116
International Finance Corp.		2.13	%		04/07/2026		6,000,000		6,316,680
Total investment in supranational bonds (4.1%) (cost $17,076,333)									17,597,754
U.S. Government Treasury Bonds	Interest Rate			Maturity Date		Principal Amount ($)		Market Value ($)
U.S. Treasury		1.13	%		07/31/2021		2,000,000		2,007,031
U.S. Treasury		2.50	%		01/15/2022		4,500,000		4,585,957
U.S. Treasury		2.38	%		03/15/2022		3,000,000		3,065,039
U.S. Treasury		0.13	%		05/31/2022		3,000,000		3,000,703
U.S. Treasury		0.13	%		06/30/2022		2,000,000		2,000,313
U.S. Treasury		1.75	%		07/15/2022		3,000,000		3,063,164
U.S. Treasury		1.88	%		08/31/2022		2,000,000		2,049,219
U.S. Treasury		1.63	%		11/15/2022		3,000,000		3,071,953
U.S. Treasury		1.38	%		02/15/2023		4,000,000		4,090,938
U.S. Treasury		2.50	%		03/31/2023		2,000,000		2,093,047
U.S. Treasury		2.88	%		10/31/2023		3,000,000		3,201,094
U.S. Treasury		2.50	%		01/31/2024		2,000,000		2,122,734
U.S. Treasury		2.38	%		02/29/2024		3,000,000		3,176,719
U.S. Treasury		2.13	%		03/31/2024		3,000,000		3,157,266
U.S. Treasury		2.00	%		05/31/2024		1,000,000		1,049,922
U.S. Treasury		1.75	%		06/30/2024		2,000,000		2,084,844
U.S. Treasury		1.75	%		07/31/2024		3,000,000		3,128,555
U.S. Treasury		1.25	%		08/31/2024		2,000,000		2,051,484
U.S. Treasury		2.25	%		11/15/2024		3,000,000		3,182,578
U.S. Treasury		1.50	%		11/30/2024		2,000,000		2,067,266
U.S. Treasury		1.38	%		01/31/2025		1,500,000		1,542,832
U.S. Treasury		2.00	%		02/15/2025		3,000,000		3,158,437
U.S. Treasury		0.50	%		03/31/2025		1,000,000		993,203
U.S. Treasury		0.38	%		04/30/2025		2,000,000		1,974,141
U.S. Treasury		0.25	%		06/30/2025		2,000,000		1,958,750
U.S. Treasury		2.25	%		11/15/2025		3,000,000		3,193,242
U.S. Treasury		0.38	%		12/31/2025		2,000,000		1,952,266
U.S. Treasury		2.63	%		01/31/2026		2,000,000		2,164,062
U.S. Treasury		2.25	%		03/31/2026		2,000,000		2,128,281
U.S. Treasury		1.88	%		07/31/2026		4,000,000		4,176,250
U.S. Treasury		2.00	%		11/15/2026		3,000,000		3,146,250
U.S. Treasury		1.63	%		11/30/2026		2,000,000		2,055,859
U.S. Treasury		2.25	%		02/15/2027		2,000,000		2,123,203

U.S. Treasury		0.63	%		03/31/2027		1,000,000		966,250
U.S. Treasury		0.50	%		06/30/2027		2,000,000		1,907,500
U.S. Treasury		2.25	%		08/15/2027		3,000,000		3,177,891
U.S. Treasury		0.38	%		09/30/2027		1,000,000		940,391
U.S. Treasury		0.63	%		12/31/2027		1,000,000		951,445
U.S. Treasury		2.75	%		02/15/2028		3,000,000		3,270,000
U.S. Treasury		2.88	%		08/15/2028		3,000,000		3,297,656
U.S. Treasury		2.63	%		02/15/2029		2,000,000		2,161,719
U.S. Treasury		1.63	%		08/15/2029		1,500,000		1,504,277
U.S. Treasury		0.63	%		08/15/2030		2,500,000		2,263,672
U.S. Treasury		3.50	%		02/15/2039		2,000,000		2,393,203
U.S. Treasury		3.13	%		11/15/2041		1,000,000		1,136,328
U.S. Treasury		2.75	%		08/15/2042		1,000,000		1,070,469
U.S. Treasury		3.00	%		05/15/2045		1,000,000		1,111,875
U.S. Treasury		2.75	%		11/15/2047		1,500,000		1,599,199
U.S. Treasury		3.00	%		08/15/2048		2,000,000		2,238,203
U.S. Treasury		2.88	%		05/15/2049		2,000,000		2,189,688
U.S. Treasury		2.25	%		08/15/2049		3,000,000		2,891,836
U.S. Treasury		2.00	%		02/15/2050		1,000,000		911,719
U.S. Treasury		1.25	%		05/15/2050		4,500,000		3,384,492
U.S. Treasury		1.38	%		08/15/2050		2,000,000		1,554,375
U.S. Treasury (TIPS)		0.63	%		07/15/2021		1,160,610		1,179,447
U.S. Treasury (TIPS)		0.13	%		01/15/2022		1,155,730		1,182,231
U.S. Treasury (TIPS)		0.38	%		07/15/2025		1,103,050		1,214,712
U.S. Treasury (TIPS)		1.75	%		01/15/2028		1,248,620		1,500,222
U.S. Treasury (TIPS)		0.63	%		02/15/2043		2,275,500		2,559,137
Total investment in U.S. government treasury bonds (31.4%) (cost $131,521,041)									133,374,539
Total investment in long-term securities (93.0%) (cost $398,701,417)									395,855,831
Short-Term Securities	Interest Rate			Maturity Date		Principal Amount ($)		Market Value ($)
Certificates of Deposit (0.1%) α
Beneficial State Bank		0.30	%		10/23/2021		250,000		244,384
Citizens Bank Trust		0.10	%		10/06/2021		250,000		244,798
									489,182
Time Deposits (3.3%)
SEB, Stockholm		0.01	%		04/01/2021		13,713,200		13,713,200
U.S. Treasury Bill (0.7%)
U.S. Treasury Bill		1.50	%		09/30/2021		3,000,000		3,021,445
Securities Purchased with Cash Collateral from Securities Lending
Registered Investment Companies (0.2%)
Invesco Aim Government & Agency Portfolio
Short-Term Investments Trust, Institutional Class		0.01	%						944,405
Total short-term securities (4.3%) (cost $18,168,232)									18,168,232
Total securities (97.3%) (cost $416,869,649)									414,024,063
Payable upon return of securities loaned (-0.2%)									(944,405	)
Other assets and liabilities (2.9%)									12,487,882
Total net assets (100.0%)									425,567,540

q	This security is non-income producing.
l	This security, or partial position of this security, was on loan at March 31, 2021. The total value of the securities on loan at March 31, 2021 was $925,235.
plc	Public Limited Company
LP	Limited Partnership
TIPS	Treasury Inflation Protected Security