Transportation provider FedEx (NYSE:FDX) added 83 basis points to the Fund’s return, as the stock climbed 34.0% from $186.20 to $249.54. The company delivered solid earnings and benefited from growing demand for international air-freight and e-commerce shipments, as consumers globally are purchasing more imported goods online.
From Jerome Dodson (Trades, Portfolio)'s fourth-quarter 2017 Parnassus Fund shareholder letter.
