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 2026-10-01
Parnassus Mid Cap Fund
#140 of 500 graded active funds · blend · mid segment peer group
The point · specialist footprint
PARMX puts less of its book behind proven specialists than 71% 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% 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.
10,000+ funds tracked · the graded specialists among them drive every read
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.
PARMX vs the Honor Roll · share card ↗Conviction exposure
10.5%
of the book in specialist-converged names
Late-stage weight
27.1%
of the book in Crowded or Fading names
Active share
97.7%
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 2026-10-20
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 and ranks 140 out of 500 graded funds, with specialists building early positions in KLAC, VMC, and WMB. The concern is 27.1% of the fund sitting in late-stage trades, plus fading specialist interest in BNY, EW, and TFC totaling over 10% of assets.
→ Watch BNY, EW, and TFC closely, as specialists are actively leaving all three positions, which together exceed 10% of the fund.
→ Note that higher-graded funds exist within the Parnassus family before assuming this is the strongest option available to you.
Support leaving these positions
Same family, higher grade
Read from today's disclosed book. Evidence, not advice.