Parnassus Mid Cap Growth Fund's Q2 2025 Performance and Alnylam Pharmaceuticals (ALNY) Analysis
Parnassus Investments recently released its “Parnassus Mid Cap Growth Fund” second quarter 2025 investor letter, providing insights into the fund's performance and key holdings. The fund's (Investor Shares) return for the quarter was 13.29% (net of fees), compared to the Russell Midcap Growth Index's 18.20% return. A copy of the letter is available for download.
Fund Performance Overview
The Parnassus Mid Cap Growth Fund experienced mixed performance in the second quarter of 2025. Stock selection in the Industrials and Information Technology sectors negatively impacted returns. However, holdings in the Financials sector contributed positively to the fund's overall performance. Investors are encouraged to review the fund’s top five holdings to understand its best picks for 2025.
Alnylam Pharmaceuticals (ALNY): A Key Holding
The investor letter highlighted Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) as a noteworthy stock. Alnylam focuses on discovering and commercializing therapeutics based on ribonucleic acid interference. As of September 24, 2025, Alnylam's stock closed at $458.37 per share, with a market capitalization of $60.083 billion. The stock had a one-month return of 1.34% and a 52-week gain of 66.94%.
Parnassus's Rationale for Investing in Alnylam
Parnassus Mid Cap Growth Fund expressed optimism about Alnylam Pharmaceuticals in its second quarter 2025 investor letter. The fund stated:
"We also reinitiated a position in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY). The company’s innovative platform and expanding product portfolio in areas like cardiomyopathy should enable Alnylam to generate robust growth. Alnylam is a pioneer in RNA interference therapeutics, a novel class of medicines. With innovative products and a healthy cash balance, Alnylam provides high-quality biotech exposure. The company has the potential to generate strong long-term growth due to an expanding product portfolio in areas like cardiomyopathy."
Hedge Fund Interest in Alnylam
While Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) holds promise, it's not among the 30 Most Popular Stocks Among Hedge Funds. According to database analysis, 58 hedge fund portfolios held Alnylam at the end of the second quarter, a slight decrease from 59 in the previous quarter. Although Alnylam exhibits investment potential, alternative AI stocks may offer greater upside potential and reduced downside risk. Investors interested in undervalued AI stocks can access a free report detailing the best short-term AI stock.
Further Insights
Additional analysis of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is available in another article, featuring ClearBridge All Cap Growth Strategy's perspectives on the company. For more investor letters from hedge funds and leading investors, refer to the hedge fund investor letters Q2 2025 page.
