Jerome Dodson (Trades, Portfolio)’s Parnassus Fund established two new positions and sold out of two others in the first quarter of the year. He bought Cognizant Technology Solutions Corp. (NASDAQ:CTSH) and Novartis AG (NYSE:NVS). He sold Qualcomm Inc. (NASDAQ:QCOM) and Applied Materials Inc. (NASDAQ:AMAT).
Dodson founded his firm, Parnassus Investments, in 1984. He serves as president and is the lead portfolio manager for several funds, including the Parnassus Fund, the Asia Fund and the Endeavor Fund. The firm invests across the capitalization spectrum in companies with wide moats, compounding growth, quality management teams and that are trading at a significant discount to their intrinsic value. Continue Reading »