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Coinbase pays us for certain activity generated through this link. Prices displayed are informational. **Parnassus Investments**, an investment management company, released the "Parnassus Growth Equity Fund" second-quarter 2026 investor letter. The letter can be downloaded here.
During the quarter, the Fund (Investor Shares) returned 17.49% (net of fees), outperforming the Russell 1000 Growth Index's 16.74%. Holdings in Information Technology and Consumer Discretionary sectors boosted relative returns, while Communication Services and Financials holdings detracted. For the year-to-date period, the Fund returned 6.17% (net of fees), outperforming the Russell 1000 Growth's 5.33%.
The firm remains constructively bullish on U.S. equities and continues to be selective, valuation-sensitive, and focused on disruptive growth opportunities through active stock selection. Growth stocks advanced during the second quarter, as the Russell 1000 Growth Index generated strong double-digit returns driven by increased confidence in the durability of the ongoing artificial intelligence (AI) infrastructure build-out. Additionally, reviewing the Fund's top five holdings could help identify its best picks for 2026.
In its second-quarter 2026 investor letter, Parnassus Growth Equity Fund highlighted Netflix, Inc. (NASDAQ:NFLX). Netflix, Inc., a leading subscription-based streaming entertainment platform, detracted from the fund's performance during the quarter. On September 15, 2026, Netflix, Inc. closed at $77.90 per share, reflecting a market capitalization of $324.37 billion.
Netflix, Inc. posted a one‑month return of -3.50%, while its shares lost 36.99% over the past 52 weeks. Parnassus Growth Equity Fund stated the following regarding Netflix, Inc. (NASDAQ:NFLX) in its Q2 2026 investor letter: > **"Netflix, Inc.** (NASDAQ:NFLX) reported solid first-quarter results, but company management did not raise revenue guidance for the full year, disappointing some investors. Cofounder Reed Hastings announced plans to step down from the board, which may have further weighed on shares." Netflix, Inc. (NFLX): Not An Analyst Who Isn't Buying Netflix, Says Jim Cramer Netflix, Inc. (NASDAQ:**NFLX**) ranks 13 on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026.
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