Parnassus Investments released its second-quarter 2025 investor letter, reporting a 7.24% net return, outperforming the Russell 1000 Value Index. The letter includes the fund’s top 5 holdings and investment positions for 2025.

Pfizer Inc. (NYSE:PFE) shares fell by -4.03% over the past month and -20.43% in the last 12 months. The company faced regulatory headwinds and trial setbacks, leading Parnassus Investments to exit its position in Pfizer due to reduced conviction in its turnaround thesis.

Despite exceeding Q1 2025 earnings forecasts, Pfizer Inc. (NYSE:PFE) is not among the 30 most popular stocks among hedge funds. Parnassus Investments believes that certain AI stocks offer greater upside potential and less downside risk compared to Pfizer, encouraging investors to explore other investment opportunities.

Read more at Yahoo Finance: Time to Go Short on Pfizer (PFE)?