Our best performer was Whole Foods (NASDAQ:WFM), a leading retailer of organic and natural foods, whose stock soared 41.7% from $29.72 to $42.11, adding 51 basis points to the Fund’s return. The stock jumped in April after activist investor Jana Partners (Trades, Portfolio) took a nearly 9% stake in the company. Jana demanded management accelerate its turnaround or sell the company. The latter occurred in June, when Amazon announced it would acquire Whole Foods for $42 per share, or $13.7 billion.
From Jerome Dodson (Trades, Portfolio)'s second quarter 2017 Parnassus Fund commentary.
