Parnassus Core Equity Fund Sold Intuit (INTU) After Share Price Appreciation

Group 1: Parnassus Core Equity Fund Performance - The Parnassus Core Equity Fund returned 2.57% (net of fees) in Q3 2025, underperforming the S&P 500 Index, which returned 8.12% [1] - Year-to-date, the fund has returned 9.89%, compared to 14.83% for the S&P 500 Index [1] Group 2: Intuit Inc. (NASDAQ: INTU) Overview - Intuit Inc. offers financial management and compliance products and services, with a one-month return of 4.19% and a 52-week gain of 4.64% [2] - As of December 22, 2025, Intuit's stock closed at $675.21 per share, with a market capitalization of $187.977 billion [2] Group 3: Investment Strategy Regarding Intuit Inc. - The Parnassus Core Equity Fund sold Intuit Inc. to lock in gains after strong performance, reallocating capital to higher-conviction and more defensive positions [3] - The fund's strategy involved trimming its overall software allocation while focusing on higher-conviction names like Salesforce and Workday [3] Group 4: Hedge Fund Interest in Intuit Inc. - Intuit Inc. was held by 96 hedge fund portfolios at the end of Q3 2025, a decrease from 105 in the previous quarter [4] - Despite recognizing Intuit's potential, the analysis suggests that certain AI stocks may offer greater upside potential with less downside risk [4]