# Parnassus Investments, LLC

> Parnassus Investments, LLC is an SEC-registered investment advisory firm in San Francisco, CA, registered since 2021, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 15, 2026.

- CRD: 316904
- Filed as: PARNASSUS INVESTMENTS, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: San Francisco, CA
- Filing period: October 2026
- Form ADV filing dated: September 15, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/316904
- AdvisorCensus page: https://advisorcensus.com/firm/parnassus-investments-llc-san-francisco-ca-316904

## Quick answers

**How is Parnassus Investments, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Parnassus Investments, LLC reports these compensation arrangements: a percentage of assets under its management.

**Where is Parnassus Investments, LLC located?**
Parnassus Investments, LLC's principal office is in San Francisco, CA, according to its Form ADV.

**Is Parnassus Investments, LLC registered with the SEC or a state?**
Parnassus Investments, LLC is an SEC-registered investment advisory firm, registered since 2021. Status as filed: Approved. CRD 316904.

**How much does Parnassus Investments, LLC manage?**
Parnassus Investments, LLC reports $41,094,551,521 in regulatory assets under management in its Form ADV filing dated September 15, 2026 (100% discretionary).

**How have Parnassus Investments, LLC's assets and staff changed since 2022?**
In the Form ADV data for Parnassus Investments, LLC: Regulatory assets under management: $53,353,455,400 in the October 2022 data and $41,094,551,521 in the October 2026 data, down 23%. Total employees: 54 in October 2022 and 87 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Parnassus Investments, LLC serve?**
By number of clients on Form ADV Item 5.D: pension and profit sharing plans (but not the plan participants or government pension plans) (9); investment companies (8); charitable organizations (6).

**Which custodians does Parnassus Investments, LLC use?**
Parnassus Investments, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists BNP Paribas Securities Services, Caisse DES Depots ET Consignations, Fidelity Management Trust Company and Northern Trust Corporation as custodians holding 10% or more of its separately managed account assets.

**Does Parnassus Investments, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/316904

**Does Parnassus Investments, LLC state an account minimum?**
Its Form ADV Part 2A brochure dated March 12, 2026 says: "The separate account minimum is $25,000,000, although Parnassus Investments reserves the right to waive the minimum at its discretion."

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Fees and minimums (Form ADV Part 2A brochure dated March 12, 2026)

- Account minimum: $25,000,000 (the brochure says it may be waived or negotiated)

> The separate account minimum is $25,000,000, although Parnassus Investments reserves the right to waive the minimum at its discretion.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- BNP Paribas Securities Services
- Caisse DES Depots ET Consignations
- Fidelity Management Trust Company
- Northern Trust Corporation

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $41,094,551,521
- Discretionary: $41,094,551,521
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| High net worth individuals | 1 | $239,715,906 |
| Investment companies | 8 | $34,127,125,627 |
| Pooled investment vehicles (other than investment companies and business development companies) | 3 | $3,379,495,939 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 9 | $2,276,840,849 |
| Charitable organizations | 6 | $357,606,901 |
| State or municipal government entities (including government pension plans) | 1 | $266,591,324 |
| Sovereign wealth funds and foreign official institutions | 1 | $430,991,042 |
| Corporations or other businesses not listed above | 1 | $16,183,933 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2021 (4 years)
- Employees: 87 total, 28 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- parnassus.com
- LinkedIn @parnassus-investments
- X @Parnassus_Funds

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2022 | $53,353,455,400 | 54 | August 4, 2022 |
| October 2023 | $40,895,320,206 | 66 | April 20, 2023 |
| October 2024 | $46,521,005,302 | 70 | May 9, 2024 |
| October 2025 | $45,658,173,524 | 83 | May 2, 2025 |
| October 2026 | $41,094,551,521 | 87 | September 15, 2026 |

Regulatory assets under management: $53,353,455,400 in the October 2022 data and $41,094,551,521 in the October 2026 data, down 23%.
Total employees: 54 in October 2022 and 87 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Parnassus Investments, LLC (CRD 316904): Form ADV filing data as of October 2026.