Here’s Why Parnassus Value Equity Fund Sold Airbnb (ABNB)

Core Insights - Parnassus Value Equity Fund reported a net return of 7.46% for Q3 2025, outperforming the Russell 1000 Value Index which returned 5.33% [1] - The fund shifted its portfolio by reducing its weight in the IT sector and increasing holdings in the Health Care sector [1] Company Insights - Airbnb, Inc. (NASDAQ:ABNB) had a one-month return of 19.94% and a 52-week gain of 3.42%, with a market capitalization of $81.905 billion as of December 17, 2025 [2] - The company reported revenue of $4.1 billion for Q3 2025, reflecting a 10% year-over-year increase [3] - Parnassus expressed concerns about Airbnb's recent initiatives potentially creating a structural drag on margins and limiting meaningful revenue growth within their investment horizon [3]