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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};be("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat(Vn)),notifLabel:document.querySelector(".".concat($n))};t.notifDropdown&&ro(e,t)}))}()}};]]>Soumya EswaranThu, September 25, 2025 at 3:15 PM GMT+2 2 min readParnassus Investments, an investment management company, released the “Parnassus Mid Cap Growth Fund” second quarter 2025 investor letter. A copy of the letter can be downloaded here. The Fund (Investor Shares) returned 13.29% (net of fees) in the quarter, compared to the Russell Midcap Growth Index’s 18.20% return. Stock selection in the Industrials and Information Technology sectors negatively impacted the performance, while holdings in the Financials sector contributed. In addition, please check the fund’s top five holdings to know its best picks in 2025.In its second-quarter 2025 investor letter, Parnassus Mid Cap Growth Fund highlighted stocks such as Alcon Inc. (NYSE:ALC). Headquartered in Geneva, Switzerland, Alcon Inc. (NYSE:ALC) engages in the research, development, manufacturing, and distribution of eye care products.  The one-month return of Alcon Inc. (NYSE:ALC) was -5.59%, and its shares lost 24.30% of their value over the last 52 weeks. On September 24, 2025, Alcon Inc. (NYSE:ALC) stock closed at $75.00 per share, with a market capitalization of $37.352 billion.Parnassus Mid Cap Growth Fund stated the following regarding Alcon Inc. (NYSE:ALC) in its second quarter 2025 investor letter:"Within Health Care, we initiated a position in Alcon Inc. (NYSE:ALC), a market leader in the eye care industry. We expect its culture of innovation will enable the company to accelerate market share gains and revenue growth during our investment horizon. Alcon is a dominant player in the eye care industry. The company operates in a strong, durable category, and ALC’s product launches should enable them to continue to gain market share and experience accelerating growth."Alcon Inc. (NYSE:ALC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 34 hedge fund portfolios held Alcon Inc. (NYSE:ALC) at the end of the second quarter, down from 40 in the previous quarter. In the second quarter of 2025, Alcon Inc. (NYSE:ALC) reported sales of $2.6 billion, representing an increase of 3% versus prior year. While we acknowledge the potential of Alcon Inc. (NYSE:ALC) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.In another article, we covered Alcon Inc. (NYSE:ALC) and shared the list of best medical stocks to buy according to analysts. 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