Parthenon LLC

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 8, 2024), Parthenon LLC reported 121 stock positions worth $787.2 million. Its top holding was Microsoft (MSFT) at 14.3% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 7.8%) and Meta Platforms Class A (META, 4.9%). Compared with Q1 2024, it opened 2 new positions, sold out of 3, added to 20 and reduced 45. The biggest buy was Hershey (HSY, shares +829%) and the biggest sale Fastenal (FAST, shares −2%).

Most Recent 13F
Q2 2026
Location
LOUISVILLE, KY
CIK
0001088859
Portfolio Value
$787.2M (Q2 2024)
SEC Filing
0001085146-24-003571 ↗ filed Aug 8, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $788.8M Q1 2024 Q2 2024: $787.2M $787.2M Q2 2024 Q3 2024: $837.4M Q3 2024 Q4 2024: $826.7M Q4 2024 Q1 2025: $813.1M Q1 2025 Q2 2025: $874.1M Q2 2025 Q3 2025: $902.5M Q3 2025 Q4 2025: $926.7M Q4 2025 Q1 2026: $874.7M Q1 2026 Q2 2026: $962.0M Q2 2026

Holdings 121 stocks · $787.2M
MSFT Microsoft Corp. 14.27% 251,359 $112.3M Reduce -2.9%
BRK.B Berkshire Hathaway Inc. Class B 7.79% 150,655 $61.3M Reduce -1.8%
META Meta Platforms Inc. Class A 4.93% 76,928 $38.8M Reduce -2.2%
PAYX Paychex Inc. 3.91% 259,430 $30.8M Reduce -1.2%
GOOGL Alphabet Inc. Class A 3.87% 167,185 $30.5M Reduce -1.8%
AAPL Apple Inc. 3.34% 124,815 $26.3M Reduce -1.6%
GOOG Alphabet Inc. Class C 3.23% 138,795 $25.5M Reduce -2.4%
PG The Procter & Gamble Co. 3.13% 149,247 $24.6M Reduce -0.3%
XOM Exxon Mobil Corp. 2.74% 187,145 $21.5M Reduce -0.4%
MRK Merck & Co. Inc. 2.50% 159,120 $19.7M Add +0.2%
DOV Dover Corp. 2.49% 108,780 $19.6M Reduce -1.3%
JNJ Johnson & Johnson 2.34% 125,833 $18.4M Reduce -1.0%
FAST Fastenal Co. 2.17% 272,037 $17.1M Reduce -1.8%
PEP Pepsico Inc. 2.13% 101,698 $16.8M Add +0.3%
WMT Walmart Inc. 2.03% 235,492 $15.9M Reduce -2.3%
AXP American Express Co. 2.02% 68,740 $15.9M Reduce -1.2%
BKNG Booking Holdings Inc. 1.76% 3,498 $13.9M Reduce -2.5%
SYK Stryker Corp. 1.68% 38,945 $13.3M Reduce -1.8%
LSTR Landstar System Inc. 1.56% 66,700 $12.3M Reduce -2.0%
MDLZ Mondelez International Inc. Class A 1.44% 172,728 $11.3M Reduce -1.5%
CSCO Cisco Systems Inc. 1.32% 218,541 $10.4M Add +1.1%
SCHW Schwab (charles) Corp. 1.32% 140,755 $10.4M Reduce -0.6%
CHDN Churchill Downs Inc. 1.28% 72,062 $10.1M No change
GLW Corning Inc. 1.28% 258,377 $10.0M Reduce -2.6%
WAT Waters Corp. 1.19% 32,256 $9.4M Reduce -1.8%
JPM JPMorgan Chase & Co. 1.14% 44,339 $9.0M Reduce -1.9%
CVS CVS Health Corp. 1.14% 151,687 $9.0M Reduce -1.6%
YETI Yeti Holdings Inc. filed as YETI HLDGS INC 1.08% 222,660 $8.5M Reduce -0.4%
HD Home Depot Inc. 1.07% 24,441 $8.4M Add +0.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.94% 74,753 $7.4M Reduce -0.1%
MDT Medtronic PLC 0.92% 92,106 $7.2M Reduce -1.2%
VOO Vanguard S&P 500 ETF 0.81% 12,703 $6.4M Reduce -0.1%
IJR iShares Core S&P Small-Cap E 0.68% 50,353 $5.4M Add +0.7%
PNC PNC Financial Services Group 0.65% 33,075 $5.1M No change
LLY Eli Lilly & Co. 0.65% 5,667 $5.1M No change
VWO Vanguard Ftse Emerging Marke 0.63% 113,734 $5.0M Reduce -1.0%
SJM The JM Smucker Co. filed as SMUCKER J M CO 0.62% 44,577 $4.9M Reduce -2.2%
BF.B Brown-Forman Corp. Class B 0.57% 104,452 $4.5M No change
HSY The Hershey Co. 0.56% 24,165 $4.4M Add +829.4%
BRK.A Berkshire Hathaway Inc. Class A 0.54% 7 $4.3M No change
KO The Coca-Cola Co. 0.54% 66,173 $4.2M Reduce -4.3%
ABBV Abbvie Inc. 0.52% 23,688 $4.1M No change
VEA Vanguard Ftse Developed ETF 0.51% 81,701 $4.0M Add +1.6%
GE General Electric filed as GE AEROSPACE 0.47% 23,233 $3.7M Reduce -1.7%
MCD McDonald's Corp. 0.46% 14,320 $3.6M Add +0.1%
BATRK Atlanta Braves Holdings in-C 0.43% 86,440 $3.4M Add +8.4%
ABT Abbott Laboratories 0.42% 31,663 $3.3M Add +0.0%
PM Philip Morris International 0.40% 31,141 $3.2M Add +0.1%
NVDA Nvidia Corp. 0.39% 24,950 $3.1M Reduce -12.3%
SMG Scotts Miracle-Gro Co. 0.36% 43,200 $2.8M Reduce -4.1%
PFE Pfizer Inc. 0.36% 100,152 $2.8M Reduce -5.0%
CL Colgate-Palmolive Co. 0.34% 27,486 $2.7M No change
TFX Teleflex Inc. 0.32% 11,983 $2.5M No change
VPL Vanguard Ftse Pacific ETF 0.31% 33,207 $2.5M Reduce -1.0%
KVUE Kenvue Inc. 0.30% 128,784 $2.3M Reduce -9.0%
MO Altria Group Inc. 0.29% 49,327 $2.2M Add +0.1%
CVX Chevron Corp. 0.24% 11,932 $1.9M Reduce -3.8%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.22% 9,847 $1.7M Add +0.1%
TPB Turning Point Brands Inc. 0.21% 51,770 $1.7M No change
IVV iShares Core S&P 500 ETF 0.21% 2,974 $1.6M No change
RELL Richardson Elec Ltd. 0.20% 134,316 $1.6M Add +6.5%
ZTS Zoetis Inc. 0.20% 9,181 $1.6M Reduce -6.3%
AGX Argan Inc. 0.20% 21,657 $1.6M Reduce -29.4%
VGK Vanguard Ftse Europe ETF 0.20% 23,400 $1.6M No change
USB US Bancorp 0.17% 34,308 $1.4M Reduce -1.1%
CLAR Clarus Corp. 0.17% 200,164 $1.3M No change
VTI VG Morningstar TS MKT ETF-US 0.17% 4,936 $1.3M Add +2.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.16% 2,266 $1.2M No change
ADP Automatic Data Processing 0.14% 4,700 $1.1M No change
VEU Vanguard Ftse All-World Ex-U 0.14% 19,003 $1.1M Reduce -2.1%
INTU Intuit Inc. 0.14% 1,675 $1.1M No change
JCTC Jewett-Cameron Trading Ltd. 0.13% 217,053 $1.1M No change
COST Costco Wholesale Corp. 0.13% 1,228 $1.0M No change
BSX Boston Scientific Corp. 0.13% 13,133 $1.0M No change
IWM iShares Russell 2000 ETF 0.13% 4,972 $1.0M No change
ORCL Oracle Corp. 0.13% 7,031 $993K Add +0.2%
GEV GE Vernova Inc. 0.12% 5,448 $934K Reduce -7.8%
RSSS Research Solutions Inc. 0.12% 366,284 $934K No change
IWR iShares Russell Mid-Cap ETF 0.12% 11,323 $918K No change
MMM 3M Co. 0.11% 8,188 $837K No change
MSI Motorola Solutions Inc. 0.11% 2,143 $827K No change
BF.A Brown-Forman Corp. Class A 0.10% 17,200 $759K No change
YUM Yum! Brands Inc. 0.09% 5,604 $742K No change
LOW Lowe's Cos Inc. 0.09% 3,321 $732K No change
WBA Walgreens Boots Alliance Inc. 0.09% 57,785 $699K No change
IWB iShares Russell 1000 ETF 0.08% 2,060 $613K Reduce -0.2%
IVW iShares S&P 500 Growth ETF 0.08% 6,516 $603K No change
DD Dupont DE Nemours Inc. 0.07% 6,809 $548K No change
WM Waste Management Inc. 0.07% 2,500 $533K No change
USMV iShares MSCI USA Min Vol Fac 0.06% 5,874 $493K No change
UG United Guardian Inc. 0.06% 53,009 $474K No change
XLK SS Technology Select Sector 0.06% 2,000 $452K No change
MA Mastercard Inc. Class A 0.05% 918 $405K No change
COHR Coherent Corp. 0.05% 5,400 $391K Reduce -2.7%
ETN Eaton Corp. PLC 0.05% 1,200 $376K No change
AMGN Amgen Inc. 0.05% 1,177 $368K No change
TSCO Tractor Supply Company 0.05% 1,325 $358K No change
TFC Truist Financial Corp. 0.05% 9,155 $356K Add +0.5%
CINF Cincinnati Financial Corp. 0.04% 3,000 $354K No change
DOW Dow Inc. 0.04% 6,506 $345K No change

Show all 121 holdings

Portfolio Sells Q1 2024 → Q2 2024
FAST Fastenal Co. Reduce -1.8% 2.17% −0.54
CVS CVS Health Corp. Reduce -1.6% 1.14% −0.42
BRK.B Berkshire Hathaway Inc. Class B Reduce -1.8% 7.79% −0.39
WAT Waters Corp. Reduce -1.8% 1.19% −0.24
DIS The Walt Disney Co. Reduce -0.1% 0.94% −0.22
JNJ Johnson & Johnson Reduce -1.0% 2.34% −0.21
PAYX Paychex Inc. Reduce -1.2% 3.91% −0.18
MDLZ Mondelez International Inc. Class A Reduce -1.5% 1.44% −0.12
SYK Stryker Corp. Reduce -1.8% 1.68% −0.12
SJM The JM Smucker Co. Reduce -2.2% 0.62% −0.11
MDT Medtronic PLC Reduce -1.2% 0.92% −0.11
LSTR Landstar System Inc. Reduce -2.0% 1.56% −0.10
KVUE Kenvue Inc. Reduce -9.0% 0.30% −0.09
SMG Scotts Miracle-Gro Co. Reduce -4.1% 0.36% −0.07
GE General Electric Reduce -1.7% 0.47% −0.06
XOM Exxon Mobil Corp. Reduce -0.4% 2.74% −0.03
YUMC Yum China Holdings Inc. Sold out 0.00% −0.03
TGT Target Corp. Sold out 0.00% −0.03
EFA iShares MSCI Eafe ETF Sold out 0.00% −0.03
USB US Bancorp Reduce -1.1% 0.17% −0.02
PFE Pfizer Inc. Reduce -5.0% 0.36% −0.01
YETI Yeti Holdings Inc. Reduce -0.4% 1.08% −0.01
CVX Chevron Corp. Reduce -3.8% 0.24% −0.01
VPL Vanguard Ftse Pacific ETF Reduce -1.0% 0.31% −0.01
GEV GE Vernova Inc. Reduce -7.8% 0.12% −0.01
JPM JPMorgan Chase & Co. Reduce -1.9% 1.14% −0.01
ZTS Zoetis Inc. Reduce -6.3% 0.20% −0.01
GEHC GE Healthcare Technology Reduce -3.4% 0.04% −0.01
VEU Vanguard Ftse All-World Ex-U Reduce -2.1% 0.14% −0.00
KO The Coca-Cola Co. Reduce -4.3% 0.54% −0.00
IWB iShares Russell 1000 ETF Reduce -0.2% 0.08% +0.00
AGX Argan Inc. Reduce -29.4% 0.20% +0.00
COHR Coherent Corp. Reduce -2.7% 0.05% +0.01
AXP American Express Co. Reduce -1.2% 2.02% +0.01
DOV Dover Corp. Reduce -1.3% 2.49% +0.02
SCHW Schwab (charles) Corp. Reduce -0.6% 1.32% +0.02
VWO Vanguard Ftse Emerging Marke Reduce -1.0% 0.63% +0.02
VOO Vanguard S&P 500 ETF Reduce -0.1% 0.81% +0.03
PG The Procter & Gamble Co. Reduce -0.3% 3.13% +0.05
NVDA Nvidia Corp. Reduce -12.3% 0.39% +0.07
META Meta Platforms Inc. Class A Reduce -2.2% 4.93% +0.09
BKNG Booking Holdings Inc. Reduce -2.5% 1.76% +0.11
GLW Corning Inc. Reduce -2.6% 1.28% +0.17
WMT Walmart Inc. Reduce -2.3% 2.03% +0.19
MSFT Microsoft Corp. Reduce -2.9% 14.27% +0.47
GOOG Alphabet Inc. Class C Reduce -2.4% 3.23% +0.49
AAPL Apple Inc. Reduce -1.6% 3.34% +0.58
GOOGL Alphabet Inc. Class A Reduce -1.8% 3.87% +0.61

Portfolio Buys Q1 2024 → Q2 2024
HSY The Hershey Co. Add +829.4% 0.56% +0.50
RELL Richardson Elec Ltd. Add +6.5% 0.20% +0.06
PM Philip Morris International Add +0.1% 0.40% +0.04
BATRK Atlanta Braves Holdings in-C Add +8.4% 0.43% +0.04
FNDX Schwab Fndmntl US LRG Co. ETF New 0.03% +0.03
IWP iShares Russell Mid-Cap Grow New 0.03% +0.03
ORCL Oracle Corp. Add +0.2% 0.13% +0.01
MO Altria Group Inc. Add +0.1% 0.29% +0.01
VTI VG Morningstar TS MKT ETF-US Add +2.5% 0.17% +0.01
AMZN Amazon.com Inc. Add +3.0% 0.03% +0.00
VEA Vanguard Ftse Developed ETF Add +1.6% 0.51% +0.00
TFC Truist Financial Corp. Add +0.5% 0.05% +0.00
V Visa Inc. Class A Add +0.7% 0.03% −0.00
CMCSA Comcast Corp. Class A Add +0.4% 0.04% −0.00
IJR iShares Core S&P Small-Cap E Add +0.7% 0.68% −0.02
IBM Intl Business Machines Corp. Add +0.1% 0.22% −0.02
ABT Abbott Laboratories Add +0.0% 0.42% −0.04
MCD McDonald's Corp. Add +0.1% 0.46% −0.05
CSCO Cisco Systems Inc. Add +1.1% 1.32% −0.05
PEP Pepsico Inc. Add +0.3% 2.13% −0.12
HD Home Depot Inc. Add +0.0% 1.07% −0.12
MRK Merck & Co. Inc. Add +0.2% 2.50% −0.15

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 133$962.0MMSFT, BRK.B, GLW, GOOGL, GOOG
Q1 2026 127$874.7MMSFT, BRK.B, GOOGL, META, GOOG
Q4 2025 131$926.7MMSFT, BRK.B, GOOGL, META, GOOG
Q3 2025 129$902.5MMSFT, BRK.B, META, GOOGL, AAPL
Q2 2025 126$874.1MMSFT, BRK.B, META, PAYX, GOOGL
Q1 2025 122$813.1MMSFT, BRK.B, META, PAYX, AAPL
Q4 2024 123$826.7MMSFT, BRK.B, META, PAYX, AAPL
Q3 2024 125$837.4MMSFT, BRK.B, META, PAYX, AAPL
Q2 2024 121$787.2MMSFT, BRK.B, META, PAYX, GOOGL
Q1 2024 121$788.8MMSFT, BRK.B, META, PAYX, GOOGL