Shares
|
|
|
Equities
|
|
Percent of Net Assets
|
|
|
Market Value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Apparel
|
|
|
|
|
|
|
|
|
|
35,000
|
|
|
Coach Inc.
|
|
|
1.8
|
%
|
|
$
|
1,960,700
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chemicals
|
|
|
|
|
|
|
|
|
|
45,000
|
|
|
Compass Minerals International Inc.
|
|
|
3.2
|
%
|
|
$
|
3,356,550
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consulting Services
|
|
|
|
|
|
|
|
|
|
11,100
|
|
|
Teradata Corp.
θ
|
|
|
0.8
|
%
|
|
$
|
837,051
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Data Processing
|
|
|
|
|
|
|
|
|
|
55,000
|
|
|
Equifax Inc.
|
|
|
|
|
|
$
|
2,561,900
|
|
|
28,500
|
|
|
Fiserv Inc.
θ
|
|
|
|
|
|
|
2,109,855
|
|
|
70,000
|
|
|
Paychex Inc.
|
|
|
|
|
|
|
2,330,300
|
|
|
|
|
|
|
|
|
6.6
|
%
|
|
$
|
7,002,055
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Services
|
|
|
|
|
|
|
|
|
|
16,500
|
|
|
Capital One Financial Corp.
|
|
|
|
|
|
$
|
940,665
|
|
|
207,500
|
|
|
Charles Schwab Corp.
|
|
|
|
|
|
|
2,653,925
|
|
|
283,000
|
|
|
First Horizon National Corp.
|
|
|
|
|
|
|
2,725,290
|
|
|
121,000
|
|
|
SEI Investments Co.
|
|
|
|
|
|
|
2,595,450
|
|
|
|
|
|
|
|
|
8.4
|
%
|
|
$
|
8,915,330
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Food Products
|
|
|
|
|
|
|
|
|
|
28,500
|
|
|
McCormick & Co.
|
|
|
|
|
|
$
|
1,768,140
|
|
|
117,500
|
|
|
Sysco Corp.
|
|
|
|
|
|
|
3,674,225
|
|
|
|
|
|
|
|
|
5.1
|
%
|
|
$
|
5,442,365
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Health Care Products
|
|
|
|
|
|
|
|
|
|
70,000
|
|
|
DENTSPLY International Inc.
|
|
|
2.5
|
%
|
|
$
|
2,669,800
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industrial Manufacturing
|
|
|
|
|
|
|
|
|
|
41,400
|
|
|
Pentair Inc.
λ
|
|
|
|
|
|
$
|
1,842,714
|
|
|
60,000
|
|
|
Teleflex Inc.
|
|
|
|
|
|
|
4,130,400
|
|
|
|
|
|
|
|
|
5.6
|
%
|
|
$
|
5,973,114
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Insurance
|
|
|
|
|
|
|
|
|
|
35,000
|
|
|
Verisk Analytics Inc.
θ
|
|
|
1.6
|
%
|
|
$
|
1,666,350
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Media
|
|
|
|
|
|
|
|
|
|
36,000
|
|
|
Scripps Networks Interactive Inc.
|
|
|
2.1
|
%
|
|
$
|
2,204,280
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Medical Equipment
|
|
|
|
|
|
|
|
|
|
79,000
|
|
|
Patterson Companies Inc.
|
|
|
2.5
|
%
|
|
$
|
2,704,960
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Natural Gas
|
|
|
|
|
|
|
|
|
|
25,700
|
|
|
Energen Corp.
|
|
|
|
|
|
$
|
1,346,937
|
|
|
100,000
|
|
|
MDU Resources Group Inc.
|
|
|
|
|
|
|
2,204,000
|
|
|
79,000
|
|
|
Spectra Energy Corp.
|
|
|
|
|
|
|
2,319,440
|
|
|
|
|
|
|
|
|
5.5
|
%
|
|
$
|
5,870,377
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil & Gas
|
|
|
|
|
|
|
|
|
|
17,460
|
|
|
Concho Resources Inc.
θ
|
|
|
|
|
|
$
|
1,654,335
|
|
|
53,600
|
|
|
Noble Corp.
|
|
|
|
|
|
|
1,917,808
|
|
|
57,500
|
|
|
Ultra Petroleum Corp.
θ, λ
|
|
|
|
|
|
|
1,263,850
|
|
|
|
|
|
|
|
|
4.5
|
%
|
|
$
|
4,835,993
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pharmaceuticals
|
|
|
|
|
|
|
|
|
|
56,000
|
|
|
Valeant Pharmaceuticals International Inc.
θ
|
|
|
2.9
|
%
|
|
$
|
3,095,120
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Professional Services
|
|
|
|
|
|
|
|
|
|
106,000
|
|
|
Insperity Inc.
|
|
|
|
|
|
$
|
2,674,380
|
|
|
107,500
|
|
|
Iron Mountain Inc.
|
|
|
|
|
|
|
3,666,825
|
|
|
|
|
|
|
|
|
6.0
|
%
|
|
$
|
6,341,205
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail
|
|
|
|
|
|
|
|
|
|
20,950
|
|
|
Nordstrom Inc.
|
|
|
1.1
|
%
|
|
$
|
1,156,021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Semiconductor Capital Equipment
|
|
|
|
|
|
|
|
|
|
287,500
|
|
|
Applied Materials Inc.
|
|
|
3.0
|
%
|
|
$
|
3,209,938
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Services
|
|
|
|
|
|
|
|
|
|
21,000
|
|
|
Ecolab Inc.
|
|
|
1.3
|
%
|
|
$
|
1,361,010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Software
|
|
|
|
|
|
|
|
|
|
50,000
|
|
|
Adobe Systems Inc.
θ
|
|
|
|
|
|
$
|
1,623,000
|
|
|
57,500
|
|
|
Check Point Software Technologies Ltd.
θ
|
|
|
|
|
|
|
2,769,200
|
|
|
77,000
|
|
|
Synopsys Inc.
θ
|
|
|
|
|
|
|
2,542,540
|
|
|
45,000
|
|
|
VeriSign Inc.
θ, λ
|
|
|
|
|
|
|
2,191,050
|
|
|
|
|
|
|
|
|
8.6
|
%
|
|
$
|
9,125,790
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Telecommunications Equipment
|
|
|
|
|
|
|
|
|
|
65,000
|
|
|
Motorola Solutions Inc.
|
|
|
3.1
|
%
|
|
$
|
3,285,750
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Telecommunications Provider
|
|
|
|
|
|
|
|
|
|
157,500
|
|
|
Shaw Communications Inc.
λ
|
|
|
3.0
|
%
|
|
$
|
3,228,750
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transportation
|
|
|
|
|
|
|
|
|
|
55,485
|
|
|
C.H. Robinson Inc.
|
|
|
3.1
|
%
|
|
$
|
3,248,647
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Utility & Power Distribution
|
|
|
|
|
|
|
|
|
|
76,000
|
|
|
AGL Resources Inc.
|
|
|
|
|
|
$
|
3,109,160
|
|
|
210,000
|
|
|
Questar Corp.
|
|
|
|
|
|
|
4,269,300
|
|
|
|
|
|
|
|
|
6.9
|
%
|
|
$
|
7,378,460
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Waste Management
|
|
|
|
|
|
|
|
|
|
120,000
|
|
|
Waste Management Inc.
|
|
|
3.6
|
%
|
|
$
|
3,849,600
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investment in equities
|
|
|
|
|
|
|
|
|
|
|
|
|
(cost $89,250,498)
|
|
|
92.8
|
%
|
|
$
|
98,719,216
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal
Amount $
|
|
|
Short-Term Securities
|
|
|
Percent of Net Assets
|
|
|
|
Market Value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Time Deposits
|
|
|
|
|
|
|
|
|
|
10,240,212
|
|
|
BBH Cash Management Service
|
|
|
|
|
|
|
|
|
|
|
|
|
Citibank, London
0.03%, due 10/01/2012
|
|
|
9.6
|
%
|
|
$
|
10,240,212
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Securities Purchased with Cash Collateral from Securities Lending
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Registered Investment Companies
|
|
|
|
|
|
|
|
|
|
5,444,236
|
|
|
Invesco Aim Government & Agency Portfolio
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-Term Investments Trust, Institutional Class
|
|
|
|
|
|
|
|
|
|
|
|
|
variable rate, 0.03%
|
|
|
5.1
|
%
|
|
$
|
5,444,236
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total short-term securities
|
|
|
|
|
|
|
|
|
|
|
|
|
(cost $15,684,448)
|
|
|
14.7
|
%
|
|
$
|
15,684,448
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total securities
|
|
|
|
|
|
|
|
|
|
|
|
|
(cost $104,934,946)
|
|
|
107.5
|
%
|
|
$
|
114,403,664
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payable upon return of securities loaned
|
|
|
-5.1
|
%
|
|
$
|
(5,444,236
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other assets and liabilities - net
|
|
|
-2.4
|
%
|
|
$
|
(2,561,903
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total net assets
|
|
|
100.0
|
%
|
|
$
|
106,397,525
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
θ This security is non-income producing.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
λ This security, or partial position of this security, was on loan at September 30, 2012.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The total value of the securities on loan at September 30, 2012 was $5,312,782.
|
|
The portfolio of investments as of September 30, 2012 has not been audited. This report is provided for
the general information of the fund's shareholders. For more information regarding the fund, portfolio holdings and other significant
The Parnassus Mid-Cap Fund follows Accounting Standards Codification
(“ASC”) 820, Fair Value Measurements and Disclosure, which defines fair value, establishes a framework for measuring
fair value, and expands disclosures about fair value measurements. Various inputs are used in determining the value of the Fund's
portfolio of investments. These inputs are summarized in three levels: Level 1 - unadjusted quoted prices in active markets for
identical investments, Level 2 - other significant observable inputs (including quoted prices for similar investments) and Level
3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).
The Fund adopted Financial Accounting Standards Board (“FASB”)
issued Accounting Standards Update No. 2010-06 (“ASU 2010-06”), Improving Disclosures about Fair Value Measurements,
which, among other things, amends ASC 820 to require entities to separately present purchases, sales, issuances, and settlements
in their reconciliation of Level 3 fair value measurements (i.e., to present such items on a gross basis rather than on a net basis),
and requires additional disclosure related to recurring and nonrecurring fair value measurements with respect to transfer in and
out of Levels 1 and 2. It also clarifies existing disclosure requirements provided by ASC 820 regarding the level of disaggregation
and the inputs and valuation techniques used to measure fair value.
The following table summarizes the portfolio's financial assets
as of September 30, 2012, that is valued at fair value on a recurring basis:
PARNASSUS SMALL-CAP FUND
Portfolio of Investments as of
September 30, 2012 (unaudited)
Shares
|
|
|
Equities
|
|
Percent of Net Assets
|
|
|
Market Value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Apparel
|
|
|
|
|
|
|
|
|
|
400,000
|
|
|
Hanesbrands Inc.
θ
|
|
|
1.9
|
%
|
|
$
|
12,752,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Auto Parts
|
|
|
|
|
|
|
|
|
|
540,000
|
|
|
Gentex Corp.
|
|
|
1.4
|
%
|
|
$
|
9,185,400
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Biotechnology
|
|
|
|
|
|
|
|
|
|
100,000
|
|
|
Bio-Rad Laboratories Inc.
θ
|
|
|
|
|
|
$
|
10,672,000
|
|
|
1,735,000
|
|
|
InterMune Inc.
θ, λ
|
|
|
|
|
|
|
15,562,950
|
|
|
75,000
|
|
|
Salix Pharmaceuticals Ltd.
θ
|
|
|
|
|
|
|
3,175,500
|
|
|
|
|
|
|
|
|
4.4
|
%
|
|
$
|
29,410,450
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Building Materials
|
|
|
|
|
|
|
|
|
|
190,000
|
|
|
Simpson Manufacturing Co., Inc.
|
|
|
0.8
|
%
|
|
$
|
5,437,800
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chemicals
|
|
|
|
|
|
|
|
|
|
1,275,000
|
|
|
Calgon Carbon Corp.
θ
|
|
|
|
|
|
$
|
18,245,250
|
|
|
185,000
|
|
|
Compass Minerals International Inc.
|
|
|
|
|
|
|
13,799,150
|
|
|
|
|
|
|
|
|
4.8
|
%
|
|
$
|
32,044,400
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Data Storage
|
|
|
|
|
|
|
|
|
|
1,750,000
|
|
|
Brocade Communications Systems Inc.
θ
|
|
|
1.5
|
%
|
|
$
|
10,351,250
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Services
|
|
|
|
|
|
|
|
|
|
1,350,000
|
|
|
Artio Global Investors Inc.
λ
|
|
|
|
|
|
$
|
4,023,000
|
|
|
1,350,000
|
|
|
First American Financial Corp.
|
|
|
|
|
|
|
29,254,500
|
|
|
3,000,000
|
|
|
First Horizon National Corp.
|
|
|
|
|
|
|
28,890,000
|
|
|
850,000
|
|
|
Pinnacle Financial Partners Inc.
θ
|
|
|
|
|
|
|
16,422,000
|
|
|
|
|
|
|
|
|
11.7
|
%
|
|
$
|
78,589,500
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Health Care Products
|
|
|
|
|
|
|
|
|
|
125,000
|
|
|
Sirona Dental Systems Inc.
θ
|
|
|
1.1
|
%
|
|
$
|
7,120,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Health Care Services
|
|
|
|
|
|
|
|
|
|
1,150,000
|
|
|
VCA Antech Inc.
θ
|
|
|
3.4
|
%
|
|
$
|
22,689,500
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home Builders
|
|
|
|
|
|
|
|
|
|
1,525,000
|
|
|
PulteGroup Inc.
θ
|
|
|
|
|
|
$
|
23,637,500
|
|
|
375,000
|
|
|
Toll Brothers Inc.
θ
|
|
|
|
|
|
|
12,461,250
|
|
|
|
|
|
|
|
|
5.4
|
%
|
|
$
|
36,098,750
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industrial Manufacturing
|
|
|
|
|
|
|
|
|
|
200,000
|
|
|
Teleflex Inc.
|
|
|
2.1
|
%
|
|
$
|
13,768,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Natural Gas
|
|
|
|
|
|
|
|
|
|
175,000
|
|
|
Energen Corp.
|
|
|
1.4
|
%
|
|
$
|
9,171,750
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Networking Products
|
|
|
|
|
|
|
|
|
|
1,300,000
|
|
|
Riverbed Technology Inc.
θ
|
|
|
4.5
|
%
|
|
$
|
30,251,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil & Gas
|
|
|
|
|
|
|
|
|
|
475,000
|
|
|
Energy XXI (Bermuda) Ltd.
|
|
|
|
|
|
$
|
16,601,250
|
|
|
1,300,000
|
|
|
W&T Offshore Inc.
|
|
|
|
|
|
|
24,414,000
|
|
|
|
|
|
|
|
|
6.1
|
%
|
|
$
|
41,015,250
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pharmaceuticals
|
|
|
|
|
|
|
|
|
|
200,000
|
|
|
Furiex Pharmaceuticals Inc.
θ
|
|
|
0.6
|
%
|
|
$
|
3,816,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Professional Services
|
|
|
|
|
|
|
|
|
|
870,000
|
|
|
Insperity Inc.
|
|
|
|
|
|
$
|
21,950,100
|
|
|
180,000
|
|
|
Iron Mountain Inc.
|
|
|
|
|
|
|
6,139,800
|
|
|
|
|
|
|
|
|
4.2
|
%
|
|
$
|
28,089,900
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Semiconductors
|
|
|
|
|
|
|
|
|
|
600,000
|
|
|
EZchip Semiconductor Ltd.
θ, λ
|
|
|
|
|
|
$
|
18,354,000
|
|
|
3,200,000
|
|
|
PMC-Sierra Inc.
θ
|
|
|
|
|
|
|
18,048,000
|
|
|
|
|
|
|
|
|
5.4
|
%
|
|
$
|
36,402,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Services
|
|
|
|
|
|
|
|
|
|
550,000
|
|
|
Arbitron Inc.
|
|
|
3.1
|
%
|
|
$
|
20,845,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Software
|
|
|
|
|
|
|
|
|
|
1,375,000
|
|
|
Checkpoint Systems Inc.
θ
|
|
|
|
|
|
$
|
11,385,000
|
|
|
1,300,000
|
|
|
ClickSoftware Technologies Ltd. (ADR)
|
|
|
|
|
|
|
10,010,000
|
|
|
680,000
|
|
|
Mentor Graphics Corp.
θ
|
|
|
|
|
|
|
10,526,400
|
|
|
190,000
|
|
|
VeriSign Inc.
θ
|
|
|
|
|
|
|
9,251,100
|
|
|
|
|
|
|
|
|
6.1
|
%
|
|
$
|
41,172,500
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Telecommunications Equipment
|
|
|
|
|
|
|
|
|
|
2,040,000
|
|
|
Ceragon Networks Ltd.
θ, λ
|
|
|
|
|
|
$
|
11,628,000
|
|
|
1,925,000
|
|
|
Ciena Corp.
θ
|
|
|
|
|
|
|
26,180,000
|
|
|
1,000,000
|
|
|
DragonWave Inc.
θ, λ
|
|
|
|
|
|
|
2,240,000
|
|
|
2,050,000
|
|
|
Finisar Corp.
θ
|
|
|
|
|
|
|
29,315,000
|
|
|
4,875,000
|
|
|
Harmonic Inc.
θ
|
|
|
|
|
|
|
22,132,500
|
|
|
|
|
|
|
|
|
13.6
|
%
|
|
$
|
91,495,500
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Utility & Power Distribution
|
|
|
|
|
|
|
|
|
|
275,000
|
|
|
AGL Resources Inc.
|
|
|
|
|
|
$
|
11,250,250
|
|
|
1,025,000
|
|
|
Questar Corp.
|
|
|
|
|
|
|
20,838,250
|
|
|
|
|
|
|
|
|
4.7
|
%
|
|
$
|
32,088,500
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investment in equities
|
|
|
|
|
|
|
|
|
|
|
|
|
(cost $577,379,057)
|
|
|
88.2
|
%
|
|
$
|
591,794,450
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal
Amount $
|
|
|
Short-Term Securities
|
|
|
Percent of Net Assets
|
|
|
|
Market Value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Time Deposits
|
|
|
|
|
|
|
|
|
|
75,531,868
|
|
|
BBH Cash Management Service
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of NY Mellon, Grand Cayman
0.03%, due 10/01/2012
|
|
|
11.3
|
%
|
|
$
|
75,531,868
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Securities Purchased with Cash Collateral from Securities Lending
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Registered Investment Companies
|
|
|
|
|
|
|
|
|
|
37,438,980
|
|
|
Invesco Aim Government & Agency Portfolio
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-Term Investments Trust, Institutional Class
|
|
|
|
|
|
|
|
|
|
|
|
|
variable rate, 0.03%
|
|
|
5.5
|
%
|
|
$
|
37,438,980
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total short-term securities
|
|
|
|
|
|
|
|
|
|
|
|
|
(cost $112,970,848)
|
|
|
16.8
|
%
|
|
$
|
112,970,848
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total securities
|
|
|
|
|
|
|
|
|
|
|
|
|
(cost $690,349,905)
|
|
|
105.0
|
%
|
|
$
|
704,765,298
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payable upon return of securities loaned
|
|
|
-5.5
|
%
|
|
$
|
(37,438,980
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other assets and liabilities - net
|
|
|
0.5
|
%
|
|
$
|
3,431,645
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total net assets
|
|
|
100.0
|
%
|
|
$
|
670,757,963
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
θ This security is non-income producing.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
λ This security, or partial position of this security, was on loan at September 30, 2012.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The total value of the securities on loan at September 30, 2012 was $36,572,434.
|
|
The portfolio of investments as of September 30, 2012 has not
been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the
fund, portfolio holdings and other significant accounting policies, please see the fund's most recent prospectus and annual report.
|
|
|
|
Income Taxes:
|
|
|
|
|
|
|
|
|
|
|
|
|
At September 30, 2012, the net unrealized appreciation (depreciation) based on thecost of long-term investments of securities for income tax purposes was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parnassus
|
|
|
|
|
|
|
|
|
|
|
|
Small-Cap Fund
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of long-term investments
|
|
|
|
|
|
$
|
577,412,337
|
|
|
|
|
|
Unrealized appreciation
|
|
|
|
|
|
$
|
83,041,954
|
|
|
|
|
|
Unrealized depreciation
|
|
|
|
|
|
|
(68,659,841
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net unrealized appreciation
|
|
|
|
|
|
$
|
14,382,113
|
|
The Parnassus Small-Cap Fund follows Accounting Standards Codification
(“ASC”) 820, Fair Value Measurements and Disclosure, which defines fair value, establishes a framework for measuring
fair value, and expands disclosures about fair value measurements. Various inputs are used in determining the value of the Fund's
portfolio of investments. These inputs are summarized in three levels: Level 1 - unadjusted quoted prices in active markets for
identical investments, Level 2 - other significant observable inputs (including quoted prices for similar investments) and Level
3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).
The Fund adopted Financial Accounting Standards Board (“FASB”)
issued Accounting Standards Update No. 2010-06 (“ASU 2010-06”), Improving Disclosures about Fair Value Measurements,
which, among other things, amends ASC 820 to require entities to separately present purchases, sales, issuances, and settlements
in their reconciliation of Level 3 fair value measurements (i.e., to present such items on a gross basis rather than on a net basis),
and requires additional disclosure related to recurring and nonrecurring fair value measurements with respect to transfer in and
out of Levels 1 and 2. It also clarifies existing disclosure requirements provided by ASC 820 regarding the level of disaggregation
and the inputs and valuation techniques used to measure fair value.
The following table summarizes the portfolio's financial assets
as of September 30, 2012, that is valued at fair value on a recurring basis:
Investment Securities
|
|
|
Level 1
|
|
|
|
Level 2
|
|
|
|
Level 3
|
|
|
|
Total
|
|
Equities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Discretionary
|
|
$
|
78,881,150
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
78,881,150
|
|
Energy
|
|
|
50,187,000
|
|
|
|
-
|
|
|
|
-
|
|
|
|
50,187,000
|
|
Financials
|
|
|
78,589,500
|
|
|
|
-
|
|
|
|
-
|
|
|
|
78,589,500
|
|
Health Care
|
|
|
76,803,950
|
|
|
|
-
|
|
|
|
-
|
|
|
|
76,803,950
|
|
Industrials
|
|
|
33,527,700
|
|
|
|
-
|
|
|
|
-
|
|
|
|
33,527,700
|
|
Information Technology
|
|
|
209,672,250
|
|
|
|
-
|
|
|
|
-
|
|
|
|
209,672,250
|
|
Materials
|
|
|
32,044,400
|
|
|
|
-
|
|
|
|
-
|
|
|
|
32,044,400
|
|
Utilities
|
|
|
32,088,500
|
|
|
|
-
|
|
|
|
-
|
|
|
|
32,088,500
|
|
Short-Term Investments
|
|
|
112,970,848
|
|
|
|
-
|
|
|
|
-
|
|
|
|
112,970,848
|
|
Total
|
|
$
|
704,765,298
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
704,765,298
|
|
PARNASSUS WORKPLACE FUND
Portfolio of Investments as of September
30, 2012 (unaudited)
Shares
|
|
|
Equities
|
|
Percent of Net Assets
|
|
|
Market Value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Biotechnology
|
|
|
|
|
|
|
|
|
|
50,000
|
|
|
Bio-Rad Laboratories Inc.
θ
|
|
|
2.0
|
%
|
|
$
|
5,336,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Building Materials
|
|
|
|
|
|
|
|
|
|
206,300
|
|
|
Simpson Manufacturing Co., Inc.
|
|
|
2.2
|
%
|
|
$
|
5,904,306
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Communications Equipment
|
|
|
|
|
|
|
|
|
|
150,000
|
|
|
QUALCOMM Inc.
|
|
|
3.6
|
%
|
|
$
|
9,373,500
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consulting Services
|
|
|
|
|
|
|
|
|
|
50,000
|
|
|
Accenture PLC
|
|
|
1.3
|
%
|
|
$
|
3,501,500
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cosmetics & Personal Care
|
|
|
|
|
|
|
|
|
|
120,000
|
|
|
Procter & Gamble Co.
|
|
|
3.2
|
%
|
|
$
|
8,323,200
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Data Storage
|
|
|
|
|
|
|
|
|
|
475,000
|
|
|
Brocade Communications Systems Inc.
θ
|
|
|
1.1
|
%
|
|
$
|
2,809,625
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Electronic Components
|
|
|
|
|
|
|
|
|
|
900,000
|
|
|
Corning Inc.
|
|
|
4.5
|
%
|
|
$
|
11,835,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Services
|
|
|
|
|
|
|
|
|
|
125,000
|
|
|
Capital One Financial Corp.
|
|
|
|
|
|
$
|
7,126,250
|
|
|
750,000
|
|
|
Charles Schwab Corp.
|
|
|
|
|
|
|
9,592,500
|
|
|
1,200,000
|
|
|
First Horizon National Corp.
|
|
|
|
|
|
|
11,556,000
|
|
|
325,000
|
|
|
Wells Fargo & Co.
|
|
|
|
|
|
|
11,222,250
|
|
|
|
|
|
|
|
|
15.1
|
%
|
|
$
|
39,497,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Food Products
|
|
|
|
|
|
|
|
|
|
100,000
|
|
|
PepsiCo Inc.
|
|
|
2.7
|
%
|
|
$
|
7,077,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industrial Manufacturing
|
|
|
|
|
|
|
|
|
|
17,500
|
|
|
3M Co.
|
|
|
0.6
|
%
|
|
$
|
1,617,350
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Insurance
|
|
|
|
|
|
|
|
|
|
145,000
|
|
|
Cigna Corp.
|
|
|
2.6
|
%
|
|
$
|
6,839,650
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Internet
|
|
|
|
|
|
|
|
|
|
40,000
|
|
|
eBay Inc.
θ
|
|
|
|
|
|
$
|
1,936,400
|
|
|
9,000
|
|
|
Google Inc.
θ
|
|
|
|
|
|
|
6,790,500
|
|
|
|
|
|
|
|
|
3.3
|
%
|
|
$
|
8,726,900
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Machinery
|
|
|
|
|
|
|
|
|
|
85,000
|
|
|
Deere & Co.
|
|
|
2.7
|
%
|
|
$
|
7,011,650
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Media
|
|
|
|
|
|
|
|
|
|
90,000
|
|
|
Scripps Networks Interactive Inc.
|
|
|
2.1
|
%
|
|
$
|
5,510,700
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Natural Gas
|
|
|
|
|
|
|
|
|
|
70,000
|
|
|
MDU Resources Group Inc.
|
|
|
0.6
|
%
|
|
$
|
1,542,800
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Networking Products
|
|
|
|
|
|
|
|
|
|
400,000
|
|
|
Cisco Systems Inc.
|
|
|
|
|
|
$
|
7,636,000
|
|
|
575,000
|
|
|
Riverbed Technology Inc.
θ
|
|
|
|
|
|
|
13,380,250
|
|
|
|
|
|
|
|
|
8.0
|
%
|
|
$
|
21,016,250
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pharmaceuticals
|
|
|
|
|
|
|
|
|
|
55,000
|
|
|
Gilead Sciences Inc.
θ
|
|
|
|
|
|
$
|
3,648,150
|
|
|
125,000
|
|
|
Novartis AG (ADR)
|
|
|
|
|
|
|
7,657,500
|
|
|
|
|
|
|
|
|
4.3
|
%
|
|
$
|
11,305,650
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Professional Services
|
|
|
|
|
|
|
|
|
|
200,000
|
|
|
Insperity Inc.
|
|
|
1.9
|
%
|
|
$
|
5,046,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail
|
|
|
|
|
|
|
|
|
|
20,000
|
|
|
Costco Wholesale Corp.
|
|
|
|
|
|
$
|
2,002,500
|
|
|
190,000
|
|
|
Lowe's Cos., Inc.
|
|
|
|
|
|
|
5,745,600
|
|
|
150,000
|
|
|
Target Corp.
|
|
|
|
|
|
|
9,520,500
|
|
|
|
|
|
|
|
|
6.6
|
%
|
|
$
|
17,268,600
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Semiconductor Capital Equipment
|
|
|
|
|
|
|
|
|
|
1,100,000
|
|
|
Applied Materials Inc.
|
|
|
4.7
|
%
|
|
$
|
12,281,500
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Semiconductors
|
|
|
|
|
|
|
|
|
|
500,000
|
|
|
Intel Corp.
|
|
|
4.3
|
%
|
|
$
|
11,340,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Software
|
|
|
|
|
|
|
|
|
|
250,000
|
|
|
Adobe Systems Inc.
θ
|
|
|
|
|
|
$
|
8,115,000
|
|
|
100,000
|
|
|
Autodesk Inc.
θ
|
|
|
|
|
|
|
3,337,000
|
|
|
125,000
|
|
|
Microsoft Corp.
|
|
|
|
|
|
|
3,722,500
|
|
|
|
|
|
|
|
|
5.8
|
%
|
|
$
|
15,174,500
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transportation
|
|
|
|
|
|
|
|
|
|
150,000
|
|
|
C.H. Robinson Inc.
|
|
|
3.3
|
%
|
|
$
|
8,782,500
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investment in equities
|
|
|
|
|
|
|
|
|
|
|
|
|
(cost $204,052,553)
|
|
|
86.5
|
%
|
|
$
|
227,121,181
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal Amount $
|
|
|
Short-Term Securities
|
|
|
Percent of Net Assets
|
|
|
|
Market Value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Time Deposits
|
|
|
|
|
|
|
|
|
|
37,123,672
|
|
|
BBH Cash Management Service
|
|
|
|
|
|
|
|
|
|
|
|
|
Citibank, London
0.03%, due 10/01/2012
|
|
|
14.1
|
%
|
|
$
|
37,123,672
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total short-term securities
|
|
|
|
|
|
|
|
|
|
|
|
|
(cost $37,123,672)
|
|
|
14.1
|
%
|
|
$
|
37,123,672
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total securities
|
|
|
|
|
|
|
|
|
|
|
|
|
(cost $241,176,225)
|
|
|
100.6
|
%
|
|
$
|
264,244,853
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other assets and liabilities - net
|
|
|
-0.6
|
%
|
|
$
|
(1,756,388
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total net assets
|
|
|
100.0
|
%
|
|
$
|
262,488,465
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
θ This security is non-income producing.
|
|
|
|
|
|
|
|
|
The portfolio of investments as of September 30, 2012 has not
been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the
fund, portfolio holdings and other significant accounting policies, please see the fund's most recent prospectus and annual report.
|
|
|
|
Income Taxes:
|
|
|
|
|
|
|
|
|
|
|
|
|
At September 30, 2012, the net unrealized appreciation (depreciation) based on the cost of long-term investments of securities for income tax purposes was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parnassus
|
|
|
|
|
|
|
|
|
|
|
|
Workplace Fund
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of long-term investments
|
|
|
|
|
|
$
|
204,117,810
|
|
|
|
|
|
Unrealized appreciation
|
|
|
|
|
|
$
|
27,320,219
|
|
|
|
|
|
Unrealized depreciation
|
|
|
|
|
|
|
(4,316,848
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net unrealized appreciation
|
|
|
|
|
|
$
|
23,003,371
|
|
The Parnassus Workplace Fund follows Accounting Standards Codification
(“ASC”) 820, Fair Value Measurements and Disclosure, which defines fair value, establishes a framework for measuring
fair value, and expands disclosures about fair value measurements. Various inputs are used in determining the value of the Fund's
portfolio of investments. These inputs are summarized in three levels: Level 1 - unadjusted quoted prices in active markets for
identical investments, Level 2 - other significant observable inputs (including quoted prices for similar investments) and Level
3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).
The Fund adopted Financial Accounting Standards Board (“FASB”)
issued Accounting Standards Update No. 2010-06 (“ASU 2010-06”), Improving Disclosures about Fair Value Measurements,
which, among other things, amends ASC 820 to require entities to separately present purchases, sales, issuances, and settlements
in their reconciliation of Level 3 fair value measurements (i.e., to present such items on a gross basis rather than on a net basis),
and requires additional disclosure related to recurring and nonrecurring fair value measurements with respect to transfer in and
out of Levels 1 and 2. It also clarifies existing disclosure requirements provided by ASC 820 regarding the level of disaggregation
and the inputs and valuation techniques used to measure fair value.
The following table summarizes the portfolio's financial assets
as of September 30, 2012, that is valued at fair value on a recurring basis:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Securities
|
|
|
Level 1
|
|
|
|
Level 2
|
|
|
|
Level 3
|
|
|
|
Total
|
|
Equities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Discretionary
|
|
$
|
20,776,800
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
20,776,800
|
|
Consumer Staples
|
|
|
17,402,700
|
|
|
|
-
|
|
|
|
-
|
|
|
|
17,402,700
|
|
Financials
|
|
|
39,497,000
|
|
|
|
-
|
|
|
|
-
|
|
|
|
39,497,000
|
|
Health Care
|
|
|
23,481,300
|
|
|
|
-
|
|
|
|
-
|
|
|
|
23,481,300
|
|
Industrials
|
|
|
28,361,806
|
|
|
|
-
|
|
|
|
-
|
|
|
|
28,361,806
|
|
Information Technology
|
|
|
96,058,775
|
|
|
|
-
|
|
|
|
-
|
|
|
|
96,058,775
|
|
Utilities
|
|
|
1,542,800
|
|
|
|
-
|
|
|
|
-
|
|
|
|
1,542,800
|
|
Short-Term Investments
|
|
|
37,123,672
|
|
|
|
-
|
|
|
|
-
|
|
|
|
37,123,672
|
|
Total
|
|
$
|
264,244,853
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
264,244,853
|
|
ITEM 2. CONTROLS AND PROCEDURES.
(a) The Registrant’s Principal Executive Officer and Principal
Financial Officer concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the
Investment Company Act of 1940 (17 CFR 270.30a-3(c))) were effective as of a date within 90 days prior to the filing date of this
report (the “Evaluation Date”), based on their evaluation of the effectiveness of the Registrant’s disclosure
controls and procedures as of the Evaluation Date.
(b) There were no changes in the Registrant’s internal
control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940 (17 CFR 270.30a-3(d)) that
occurred during the Registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially
affect, the Registrant’s internal control over financial reporting.
ITEM 3. EXHIBITS.
The certification of Principal Executive Officer and the certification
of Principal Financial Officer of the Registrant as required by Rule 30a-2(a) under Act (17 CFR 270.30a-2(a)) is attached hereto
as Exhibit 99.CERT.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
(Registrant) Parnassus Funds
|
|
|
|
|
|
|
By:
|
/s/ Jerome L. Dodson
|
|
|
|
|
|
Jerome L. Dodson
Principal Executive Officer
|
|
|
|
|
|
|
|
|
|
|
Date:
|
November 8, 2012
|
|
|
|
Pursuant to the requirements of the Securities Exchange Act
of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant
and in the capacities and on the dates indicated.
|
|
|
|
|
|
|
By:
|
/s/ Jerome L. Dodson
|
|
|
|
|
|
Jerome L. Dodson
Principal Executive Officer
|
|
|
|
|
|
|
|
|
|
|
Date:
|
November 8, 2012
|
|
|
|
|
|
|
|
|
|
|
By:
|
/s/ Marc C. Mahon
|
|
|
|
|
|
Marc C. Mahon
Principal Financial Officer
|
|
|
|
|
|
|
|
|
|
|
Date:
|
November 8, 2012
|
|
|
|
Grafico Azioni CKX Lands (AMEX:CKX)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni CKX Lands (AMEX:CKX)
Storico
Da Giu 2023 a Giu 2024