Sat Sep 07 11:37:47 UTC 2024: ## Parnassus Mid Cap Fund Underperforms in Q2 2024, But Remains Bullish on Long-Term Trends
Parnassus Investments’ Mid Cap Fund saw a disappointing second quarter, underperforming the Russell Midcap Index by -2.45%. The fund’s stock selection contributed to this underperformance. Despite the short-term dip, Parnassus remains optimistic about the fund’s long-term prospects, citing strong holdings that can navigate market downturns and capitalize on growth opportunities as cyclical pressures ease.
One of the fund’s notable holdings is Repligen Corporation (RGEN), a leading bioprocessing company. While RGEN experienced a soft first quarter and a CEO transition, Parnassus remains confident in the company’s ability to thrive as the cyclical downturn subsides.
Despite the fund’s positive outlook on RGEN, the article highlights the increasing popularity of AI stocks and suggests exploring other opportunities in that sector.
The article also provides links to additional resources, including hedge fund investor letters and analysis of other popular stocks.
First Piper 