Parnassus Mid Cap Fund Sold Fidelity National Information Services (FIS) Due to Reduced Conviction in Its Long-Term Structural Growth

Core Insights - Parnassus Mid Cap Fund outperformed the Russell Midcap Index in Q4 2025, returning 1.17% compared to the index's 0.16% [1] - The fund's year-to-date return is 12.85%, exceeding the index's 10.60% [1] - The fund is optimistic about mid-cap stocks driving market growth in 2026, especially beyond artificial intelligence [1] Company Analysis: Fidelity National Information Services, Inc. (NYSE:FIS) - Fidelity National Information Services, Inc. has a market capitalization of $24.572 billion [2] - The company's stock closed at $47.45 on March 30, 2026, with a one-month return of -5.61% and a 52-week loss of 36.37% [2] - Concerns about Fidelity National's declining growth rate due to rising price intensity and fewer bank account openings led to the fund exiting its position in the company [3] Hedge Fund Interest - Fidelity National Information Services, Inc. is not among the 40 most popular stocks among hedge funds heading into 2026, with 57 hedge fund portfolios holding the stock at the end of Q4, unchanged from the previous quarter [4] - The fund believes that certain AI stocks present greater upside potential and less downside risk compared to Fidelity National [4]