The Fund Grade · free · no account needed
What grade does PARMX get?
Morningstar rates funds on what they returned. We grade them on where their money sits today: how much of the book overlaps with the converged buys of the top specialist stock pickers.
Fundprints Fund Grade · as of 2026-09-01
Parnassus Mid Cap Fund
#126 of 440 graded active funds · blend · mid segment peer group
The point · specialist footprint
PARMX puts less of its book behind proven specialists than 70% of graded funds.
Bottom 20%
● Bottom 40%
Middle
Top 40%
Top 20%
That has mattered: over the past 2.7 years, funds with this little specialist backing trailed top-rung funds by about 3.8 points per quarter and beat the S&P in only 22% of fund-quarters. If it also charges an active fee, the higher-graded alternatives deserve a look.
2,825 graded funds · 2.7 years of filings, measured as they were published · evidence, not advice
The grade scores this fund's specialist share — the slice that overlaps what the top 1% of proven funds are building. We ignore index ballast and names outside our edge on purpose: that slice is small, and it's what decides the outcome.
Conviction exposure
6.1%
of the book in specialist-converged names
Late-stage weight
56.4%
of the book in Crowded or Fading names
Active share
97.9%
how far it strays from the index
The best grades have beaten the worst by about +5% a year since we began grading. The gap held in 9 out of 10 months. Measured on filings as they were published, no hindsight.
Inside the book — top names by stage · as of 2026-09-09
We email you the day it crosses 50% crowded, and where you stand every month.
Graded monthly from point-in-time filings. A description of where the money sits, not a recommendation. Evidence, not advice.
The read · what to do with it
PARNASSUS Mid Cap earns a B grade, ranking 126 of 440 funds, with specialist investors holding a modest 6.1% share. Over half the portfolio sits in late or crowded positions, including fading names like KLAC and SNPS. The bright spot is early conviction in HUBB, FERG, and DHI, where specialists are still building.
→ Watch KLAC and SNPS closely, as specialists are actively leaving both positions which together represent 8% of the fund.
→ Compare PARMX against higher graded funds in the same Parnassus family before adding to this position.
Support leaving these positions
Same family, higher grade
Read from today's disclosed book. Evidence, not advice.
The evidence base updates this week.
The specialists — not the whales — are already positioned for what comes next. Stop finding out last.
Create your free accountNo card required · open the feed in 30 seconds