Parnassus Mid Cap Growth Fund added Builders FirstSource on a dip

Parnassus Investments released its first-quarter 2025 investor letter for the “Parnassus Mid Cap Growth Fund.” The Fund fell -9.98% in the quarter, outperforming the Russell Midcap Growth Index’s -7.12% fall. Stock selection in Consumer Discretionary and Industrials contributed to performance, while Communication Services and Health Care detracted.

The Fund highlighted Builders FirstSource, Inc. (NYSE:BLDR) in its Q1 2025 investor letter. Builders FirstSource is a building material, manufactured components, and construction services provider. The stock had a one-month return of 13.45% and closed at $127.89 per share on July 2, 2025, with a market capitalization of $14.134 billion.

Builders FirstSource, Inc. (NYSE:BLDR) is not among the 30 Most Popular Stocks Among Hedge Funds. 58 hedge fund portfolios held BLDR at the end of the first quarter, down from 59 in the previous quarter. BLDR’s first-quarter sales decreased 6% to $3.7 billion. Hedge funds see potential in BLDR, but believe AI stocks offer greater promise for higher returns in a shorter timeframe.

Read more at Yahoo Finance: Parnassus Mid Cap Growth Fund Added Builders FirstSource (BLDR) on a Dip