| PARNASSUS FIXED INCOME FUND | ||||
| Portfolio of Investments as of September 30, 2023 (unaudited) | ||||
| Exchange-Traded Funds | Interest Rate | Maturity Date | Shares | Market Value ($) |
| Mortgage Real Estate Investment Trusts (5.0%) | ||||
| iShares MBS ETF | 149,811 | 13,303,217 | ||
| Total investment in exchange-traded funds (5.0%) | 13,303,217 | |||
| (cost $13,629,434) | ||||
| Preferred Stocks | Interest Rate | Maturity Date | Shares | Market Value ($) |
| Capital Markets (0.6%) | ||||
| Morgan Stanley | 4.25% | 01/15/2027;@ | 100,000 | 1,705,000 |
| Total investment in preferred stocks (0.6%) | 1,705,000 | |||
| (cost $2,105,029) | ||||
| Corporate Bonds | Interest Rate | Maturity Date | Principal Amount ($) | Market Value ($) |
| Air Freight & Logistics (2.3%) | ||||
| C.H. Robinson Worldwide Inc. | 4.20% | 04/15/2028;@ | 3,500,000 | 3,285,911 |
| FedEx Corp. | 4.25% | 05/15/2030;@ | 1,750,000 | 1,617,148 |
| FedEx Corp. | 4.75% | 11/15/2045;@ | 1,750,000 | 1,428,714 |
| 6,331,773 | ||||
| Airlines (2.2%) | ||||
| Alaska Airlines 2020-1, Class B | 8.00% | 08/15/2025;@ | 3,008,884 | 3,010,739 |
| Southwest Airlines Co. | 5.13% | 06/15/2027;@ | 3,000,000 | 2,925,598 |
| 5,936,337 | ||||
| Auto Components (1.4%) | ||||
| APTIV plc | 2.40% | 02/18/2025;@ | 1,000,000 | 951,530 |
| APTIV plc | 5.40% | 03/15/2049;@ | 2,000,000 | 1,647,002 |
| APTIV plc | 4.15% | 05/01/2052;@ | 1,500,000 | 1,042,892 |
| 3,641,424 | ||||
| Banks (2.7%) | ||||
| Bank of America Corp. | 1.53% | 12/06/2025;@ | 2,000,000 | 1,888,553 |
| Bank of America Corp. | 3.85% | 03/08/2037;@ | 2,000,000 | 1,627,233 |
| Citigroup Inc. | 2.01% | 01/25/2026;@ | 4,000,000 | 3,777,409 |
| 7,293,195 | ||||
| Building Products (0.9%) | ||||
| Masco Corp. | 4.50% | 05/15/2047;@ | 3,260,000 | 2,430,507 |
| Capital Markets (3.0%) | ||||
| Morgan Stanley | 2.72% | 07/22/2025;@ | 2,500,000 | 2,426,252 |
| S&P Global Inc. | 2.70% | 03/01/2029;@ | 3,000,000 | 2,623,639 |
| The Charles Schwab Corp. | 3.75% | 04/01/2024;@ | 1,500,000 | 1,482,771 |
| The Charles Schwab Corp. | 4.00% | 06/01/2026;@ | 1,500,000 | 1,253,064 |
| 7,785,726 | ||||
| Chemicals (2.1%) | ||||
| International Flavor & Fragrances Inc. | 5.00% | 09/26/2048;@ | 3,300,000 | 2,457,135 |
| The Sherwin-Williams Co. | 4.50% | 06/01/2047;@ | 4,000,000 | 3,196,051 |
| 5,653,186 | ||||
| Consumer Finance (3.6%) | ||||
| American Express Co. | 4.05% | 05/03/2029;@ | 3,500,000 | 3,261,995 |
| Capital One Financial Corp. | 2.62% | 11/02/2032;@ | 3,000,000 | 2,201,746 |
| Discover Financial Services | 4.50% | 01/30/2026;@ | 3,500,000 | 3,349,885 |
| Discover Financial Services | 4.10% | 02/09/2027;@ | 1,000,000 | 913,870 |
| 9,727,496 | ||||
| Containers & Packaging (1.5%) | ||||
| Ball Corp. | 4.88% | 03/15/2026;@ | 4,000,000 | 3,854,812 |
| Diversified Financial Services (3.5%) | ||||
| Fiserv Inc. | 3.85% | 06/01/2025;@ | 2,500,000 | 2,416,748 |
| Fiserv Inc. | 4.40% | 07/01/2049 | 2,000,000 | 1,531,860 |
| Global Payments Inc. | 5.95% | 08/15/2052;@ | 3,500,000 | 3,134,636 |
| Visa Inc. | 0.75% | 08/15/2027;@ | 2,500,000 | 2,135,972 |
| 9,219,216 | ||||
| Diversified Telecommunication Services (0.9%) | ||||
| Verizon Communications Inc. | 2.85% | 09/03/2041;@ | 3,750,000 | 2,423,450 |
| Electric Utilities (0.7%) | ||||
| Public Service Co. of Oklahoma | 2.20% | 08/15/2031;@ | 4,500,000 | 3,477,671 |
| Electronic Equipment, Instruments & Components (1.3%) | ||||
| Trimble Inc. | 6.10% | 03/15/2033;@ | 3,500,000 | 3,429,726 |
| Equity Real Estate Investment Trusts (5.4%) | ||||
| Alexandria Real Estate Equities Inc. | 2.00% | 05/18/2032;@ | 3,000,000 | 2,181,866 |
| Alexandria Real Estate Equities Inc. | 4.85% | 04/15/2049;@ | 1,750,000 | 1,365,901 |
| American Tower Corp. | 3.70% | 10/15/2049;@ | 4,000,000 | 2,614,729 |
| Digital Realty Trust Inc. | 3.60% | 07/01/2029;@ | 1,000,000 | 883,426 |
| Regency Centers LP | 3.75% | 06/15/2024 | 2,000,000 | 1,952,213 |
| Regency Centers LP | 4.40% | 02/01/2047;@ | 2,400,000 | 1,769,993 |
| SBA Communications Corp. | 3.88% | 02/15/2027 | 4,000,000 | 3,665,332 |
| 14,433,460 | ||||
| Food & Staples Retailing (1.6%) | ||||
| Sysco Corp. | 2.40% | 02/15/2030;@ | 5,000,000 | 4,118,693 |
| Food Products (1.2%) | ||||
| McCormick & Co., Inc. | 2.50% | 04/15/2030;@ | 4,000,000 | 3,266,570 |
| Health Care Equipment & Supplies (2.0%) | ||||
| Baxter International Inc. | 2.54% | 02/01/2032;@ | 3,000,000 | 2,323,940 |
| Becton, Dickinson and Co. | 4.69% | 12/15/2044 | 3,500,000 | 2,954,262 |
| 5,278,202 | ||||
| Health Care Providers & Services (0.9%) | ||||
| UnitedHealth Group Inc. | 4.20% | 01/15/2047;@ | 3,000,000 | 2,398,116 |
| Hotels, Restaurants & Leisure (1.2%) | ||||
| Hilton Domestic Operating Company Inc. | 3.75% | 05/01/2029;@ | 3,684,000 | 3,187,271 |
| Insurance (0.6%) | ||||
| The Progressive Corp. | 5.38% | 11/06/2023;@ | 1,500,000 | 1,486,933 |
| Interactive Media & Services (0.7%) | ||||
| Alphabet Inc. | 1.10% | 08/15/2030;@ | 1,500,000 | 1,167,938 |
| Alphabet Inc. | 2.05% | 08/15/2050;@ | 1,500,000 | 817,990 |
| 1,985,928 | ||||
| Life Sciences Tools & Services (1.4%) | ||||
| Agilent Technologies Inc. | 2.75% | 09/15/2029;@ | 4,250,000 | 3,634,118 |
| Machinery (4.0%) | ||||
| CNH Industrial Capital LLC | 1.45% | 07/15/2026;@ | 4,000,000 | 3,564,197 |
| Pentair Finance SA | 4.50% | 07/01/2029;@ | 4,000,000 | 3,665,985 |
| Xylem Inc. | 2.25% | 01/30/2031;@ | 4,000,000 | 3,184,940 |
| 10,415,122 | ||||
| Pharmaceuticals (1.0%) | ||||
| Merck & Co., Inc. | 1.90% | 12/10/2028;@ | 3,250,000 | 2,773,107 |
| Road & Rail (1.6%) | ||||
| Canadian Pacific Railway Co. | 2.88% | 11/15/2029;@ | 2,000,000 | 1,721,934 |
| Canadian Pacific Railway Co. | 4.70% | 05/01/2048;@ | 3,000,000 | 2,481,212 |
| 4,203,146 | ||||
| Semiconductors & Semiconductor Equipment (2.8%) | ||||
| Intel Corp. | 3.20% | 08/12/2061;@ | 3,000,000 | 1,747,851 |
| Micron Technology Inc. | 2.70% | 04/15/2032;@ | 4,000,000 | 3,055,319 |
| Qorvo Inc. | 3.38% | 04/01/2031;@ | 3,000,000 | 2,376,213 |
| 7,179,383 | ||||
| Software (5.1%) | ||||
| Autodesk Inc. | 2.85% | 01/15/2030;@ | 1,250,000 | 1,059,530 |
| Autodesk Inc. | 2.40% | 12/15/2031;@ | 3,500,000 | 2,755,453 |
| Oracle Corp. | 6.13% | 07/08/2039;@ | 4,000,000 | 3,862,323 |
| Roper Technologies Inc. | 2.95% | 09/15/2029;@ | 3,500,000 | 3,034,193 |
| Salesforce Inc. | 1.50% | 07/15/2028;@ | 3,000,000 | 2,551,574 |
| 13,263,073 | ||||
| Specialty Retail (3.3%) | ||||
| Lowe's Companies Inc. | 2.80% | 09/15/2041;@ | 4,250,000 | 2,743,329 |
| O'Reilly Automotive Inc. | 4.20% | 04/01/2030;@ | 3,500,000 | 3,193,202 |
| Ross Stores Inc. | 4.80% | 04/15/2030;@ | 3,000,000 | 2,788,647 |
| 8,725,178 | ||||
| Textiles, Apparel & Luxury Goods (1.8%) | ||||
| Hanesbrands Inc. λ | 4.88% | 05/15/2026;@ | 2,000,000 | 1,833,903 |
| VF Corp. | 6.00% | 10/15/2033;@ | 2,000,000 | 1,875,833 |
| VF Corp. | 6.45% | 11/01/2037;@ | 1,000,000 | 957,343 |
| 4,667,079 | ||||
| Transportation Infrastructure (1.2%) | ||||
| Avantor Funding Inc. | 4.63% | 07/15/2028;@ | 3,500,000 | 3,190,951 |
| Wireless Telecommunication Services (1.1%) | ||||
| T-Mobile USA Inc. | 4.38% | 04/15/2040;@ | 3,500,000 | 2,812,831 |
| Total investment in corporate bonds (63.6%) | 168,223,680 | |||
| (cost $189,895,351) | ||||
| Supranational Bonds | Interest Rate | Maturity Date | Principal Amount ($) | Market Value ($) |
| European Bank for Reconstruction & Development | 1.50% | 02/13/2025 | 2,000,000 | 1,896,871 |
| European Investment Bank | 1.63% | 10/09/2029 | 2,000,000 | 1,688,009 |
| European Investment Bank | 0.75% | 09/23/2030 | 2,000,000 | 1,536,465 |
| International Bank for Reconstruction & Development | 3.13% | 11/20/2025 | 4,000,000 | 3,838,362 |
| International Bank for Reconstruction & Development | 1.63% | 11/03/2031;@ | 5,000,000 | 3,990,821 |
| International Finance Corp. | 2.13% | 04/07/2026 | 6,000,000 | 5,595,309 |
| Total investment in supranational bonds (7.0%) | 18,545,837 | |||
| (cost $21,100,560) | ||||
| U.S. Government Agency Bonds | Interest Rate | Maturity Date | Principal Amount ($) | Market Value ($) |
| Federal Home Loan Bank | 3.33% | 06/27/2025 | 4,000,000 | 3,863,221 |
| Federal Home Loan Bank | 0.50% | 07/28/2025 | 5,000,000 | 4,584,483 |
| Total investment in U.S. government agency bonds (3.2%) | 8,447,704 | |||
| (cost $8,778,687) | ||||
| U.S. Government Treasury Bonds | Interest Rate | Maturity Date | Principal Amount ($) | Market Value ($) |
| U.S. Treasury | 2.50% | 01/31/2024 | 2,000,000 | 1,980,703 |
| U.S. Treasury | 2.50% | 05/31/2024 | 4,000,000 | 3,922,344 |
| U.S. Treasury | 2.25% | 11/15/2024 | 3,000,000 | 2,897,812 |
| U.S. Treasury | 2.00% | 02/15/2025;@ | 3,000,000 | 2,869,570 |
| U.S. Treasury | 3.87% | 03/31/2025;@ | 2,000,000 | 1,960,391 |
| U.S. Treasury | 0.25% | 06/30/2025 | 2,000,000 | 1,838,125 |
| U.S. Treasury | 2.25% | 11/15/2025 | 3,000,000 | 2,834,766 |
| U.S. Treasury | 0.38% | 12/31/2025 | 2,000,000 | 1,808,203 |
| U.S. Treasury | 3.63% | 05/15/2026;@ | 3,000,000 | 2,908,125 |
| U.S. Treasury | 1.88% | 07/31/2026 | 2,000,000 | 1,845,156 |
| U.S. Treasury | 3.63% | 03/31/2028;@ | 2,500,000 | 2,397,168 |
| U.S. Treasury | 3.75% | 05/31/2030;@ | 2,500,000 | 2,374,121 |
| U.S. Treasury | 4.13% | 11/15/2032;@ | 2,500,000 | 2,411,524 |
| U.S. Treasury | 3.50% | 02/15/2033;@ | 3,000,000 | 2,752,969 |
| U.S. Treasury | 3.25% | 05/15/2042 | 5,000,000 | 3,981,445 |
| U.S. Treasury | 4.00% | 11/15/2042;@ | 4,500,000 | 3,991,465 |
| U.S. Treasury | 2.00% | 02/15/2050;@ | 4,000,000 | 2,330,000 |
| U.S. Treasury | 1.25% | 05/15/2050;@ | 5,000,000 | 2,354,297 |
| Total investment in U.S. government treasury bonds (17.9%) | 47,458,184 | |||
| (cost $53,164,529) | ||||
| Total investment in long-term securities (97.3%) | 257,683,622 | |||
| (cost $288,673,590) | ||||
| Short-Term Securities | Interest Rate | Maturity Date | Principal Amount ($) | Market Value ($) |
| Certificates of Deposit (0.2%) α | ||||
| Beneficial State Bank | 1.10% | 10/23/2023 | 250,000 | 249,370 |
| Citizens Trust Bank | 0.05% | 10/06/2023;@ | 250,000 | 249,836 |
| 499,206 | ||||
| Time Deposits (1.6%) | ||||
| SEB, Stockholm | 4.68% | 10/02/2023;@ | 4,296,823 | 4,296,823 |
| Securities Purchased with Cash Collateral from Securities Lending | ||||
| Registered Investment Companies (0.1%) | ||||
| Invesco Aim Government & Agency Portfolio | ||||
| Short-Term Investments Trust, Institutional Class | 5.24% | 190,200 | ||
| Total short-term securities (1.9%) | ||||
| (cost $4,986,229) | 4,986,229 | |||
| Total securities (99.2%) | ||||
| (cost $293,659,819) | 262,669,851 | |||
| Payable upon return of securities loaned (-0.1%) | -$190,200.00 | |||
| Other assets and liabilities (0.9%) | $2,430,106.00 | |||
| Total net assets (100.0%) | 264,909,757 | |||
| λ This security, or partial position of this security, was on loan at September 30, 2023. The total value of the securities on | ||||
| loan at September 30, 2023 was $186,210. | ||||
| α Market value adjustments have been applied to these securities to reflect potential early withdrawal. | ||||
| Such securities have been classified as level 3. | ||||
| plc Public Limited Company | ||||
| LLC Limited Liability Company | ||||
| LP Limited Partnership | ||||
| SA Société Anonyme |
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