Parthenon LLC

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 3, 2025), Parthenon LLC reported 123 stock positions worth $826.7 million. Its top holding was Microsoft (MSFT) at 12.6% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 8.0%) and Meta Platforms Class A (META, 5.2%). Compared with Q3 2024, it opened 2 new positions, sold out of 4, added to 23 and reduced 53. The biggest buy was Apple (AAPL, shares +5%) and the biggest sale CVS Health (CVS, shares −4%).

Most Recent 13F
Q2 2026
Location
LOUISVILLE, KY
CIK
0001088859
Portfolio Value
$826.7M (Q4 2024)
SEC Filing
0001085146-25-000674 ↗ filed Feb 3, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $788.8M Q1 2024 Q2 2024: $787.2M Q2 2024 Q3 2024: $837.4M Q3 2024 Q4 2024: $826.7M $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 123 stocks · $826.7M
MSFT Microsoft Corp. 12.57% 246,515 $103.9M Reduce -1.8%
BRK.B Berkshire Hathaway Inc. Class B 8.04% 146,638 $66.5M Reduce -1.7%
META Meta Platforms Inc. Class A 5.24% 73,924 $43.3M Reduce -1.7%
PAYX Paychex Inc. 4.38% 258,275 $36.2M Reduce -0.3%
AAPL Apple Inc. 4.01% 132,329 $33.1M Add +4.7%
GOOGL Alphabet Inc. Class A 3.85% 168,012 $31.8M Reduce -0.1%
GOOG Alphabet Inc. Class C 3.20% 138,891 $26.5M Reduce -0.3%
PG The Procter & Gamble Co. 2.95% 145,493 $24.4M Reduce -1.8%
WMT Walmart Inc. 2.56% 234,017 $21.1M Reduce -0.8%
AXP American Express Co. 2.50% 69,632 $20.7M Add +1.1%
XOM Exxon Mobil Corp. 2.49% 191,016 $20.5M Reduce -0.3%
DOV Dover Corp. 2.43% 106,920 $20.1M Reduce -1.9%
FAST Fastenal Co. 2.36% 271,505 $19.5M Reduce -0.4%
JNJ Johnson & Johnson 2.19% 125,283 $18.1M Reduce -0.8%
BKNG Booking Holdings Inc. 2.14% 3,558 $17.7M Add +1.4%
MRK Merck & Co. Inc. 1.90% 158,200 $15.7M Reduce -0.3%
PEP Pepsico Inc. 1.85% 100,773 $15.3M Reduce -0.5%
SYK Stryker Corp. 1.67% 38,380 $13.8M Reduce -1.6%
WAT Waters Corp. 1.48% 32,881 $12.2M Add +2.2%
CSCO Cisco Systems Inc. 1.47% 204,676 $12.1M Reduce -0.8%
GLW Corning Inc. 1.42% 246,579 $11.7M Reduce -2.7%
LSTR Landstar System Inc. 1.41% 67,997 $11.7M Add +1.8%
JPM JPMorgan Chase & Co. 1.33% 45,813 $11.0M Add +2.8%
SCHW Schwab (charles) Corp. 1.26% 141,165 $10.4M Reduce -0.3%
MDLZ Mondelez International Inc. Class A 1.22% 168,708 $10.1M Reduce -2.0%
CHDN Churchill Downs Inc. 1.18% 73,086 $9.8M Add +1.6%
HD Home Depot Inc. 1.11% 23,566 $9.2M Reduce -1.1%
YETI Yeti Holdings Inc. filed as YETI HLDGS INC 1.03% 220,885 $8.5M Reduce -1.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.00% 74,230 $8.3M Reduce -0.8%
VOO Vanguard S&P 500 ETF 0.92% 14,163 $7.6M Add +3.6%
MDT Medtronic PLC 0.87% 90,186 $7.2M Reduce -1.0%
PNC PNC Financial Services Group 0.78% 33,525 $6.5M No change
CVS CVS Health Corp. 0.77% 142,325 $6.4M Reduce -4.1%
IJR iShares Core S&P Small-Cap E 0.72% 51,527 $5.9M Add +0.8%
VWO Vanguard Ftse Emerging Marke 0.60% 113,493 $5.0M Add +0.4%
BRK.A Berkshire Hathaway Inc. Class A 0.58% 7 $4.8M No change
SJM The JM Smucker Co. filed as SMUCKER J M CO 0.57% 42,712 $4.7M Reduce -4.1%
MCD McDonald's Corp. 0.51% 14,481 $4.2M Add +1.2%
HSY The Hershey Co. 0.50% 24,615 $4.2M Add +1.6%
LLY Eli Lilly & Co. 0.50% 5,352 $4.1M Reduce -5.6%
KO The Coca-Cola Co. 0.50% 66,173 $4.1M No change
BF.B Brown-Forman Corp. Class B 0.48% 104,035 $4.0M Reduce -0.1%
VEA Vanguard Ftse Developed ETF 0.47% 80,976 $3.9M Reduce -1.3%
ABBV Abbvie Inc. 0.47% 21,688 $3.9M Reduce -7.7%
GE General Electric filed as GE AEROSPACE 0.46% 22,817 $3.8M Reduce -1.6%
ABT Abbott Laboratories 0.43% 31,563 $3.6M Reduce -1.6%
PM Philip Morris International 0.42% 29,141 $3.5M No change
BATRK Atlanta Braves Holdings in-C 0.40% 86,440 $3.3M No change
NVDA Nvidia Corp. 0.39% 23,950 $3.2M Reduce -4.0%
TPB Turning Point Brands Inc. 0.38% 51,770 $3.1M No change
SMG Scotts Miracle-Gro Co. 0.32% 39,625 $2.6M Reduce -2.8%
MO Altria Group Inc. 0.31% 49,327 $2.6M No change
PFE Pfizer Inc. 0.31% 96,089 $2.5M Reduce -1.6%
CL Colgate-Palmolive Co. 0.30% 27,486 $2.5M No change
KVUE Kenvue Inc. 0.30% 115,283 $2.5M Reduce -8.4%
VPL Vanguard Ftse Pacific ETF 0.29% 33,193 $2.4M Reduce -0.0%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.26% 9,842 $2.2M No change
TFX Teleflex Inc. 0.26% 11,908 $2.1M Reduce -0.6%
NKE Nike Inc. Class B 0.24% 26,339 $2.0M Reduce -0.5%
RELL Richardson Elec Ltd. 0.23% 134,316 $1.9M No change
IVV iShares Core S&P 500 ETF 0.21% 2,947 $1.7M Reduce -0.1%
CVX Chevron Corp. 0.20% 11,701 $1.7M Add +1.3%
USB US Bancorp 0.20% 34,216 $1.6M Reduce -0.3%
RSSS Research Solutions Inc. 0.20% 392,284 $1.6M Add +7.1%
ZTS Zoetis Inc. 0.19% 9,558 $1.6M Reduce -1.9%
VTI VG Morningstar TS MKT ETF-US 0.18% 5,090 $1.5M Add +3.0%
THRY Thryv Holdings Inc. 0.17% 96,673 $1.4M New
VGK Vanguard Ftse Europe ETF 0.17% 22,400 $1.4M Reduce -3.5%
ADP Automatic Data Processing 0.17% 4,700 $1.4M No change
SPY SS SPDR S&P 500 ETF Trust-US 0.16% 2,266 $1.3M No change
GEV GE Vernova Inc. 0.15% 3,897 $1.3M Add +0.4%
BSX Boston Scientific Corp. 0.14% 13,133 $1.2M No change
ORCL Oracle Corp. 0.14% 7,018 $1.2M No change
COST Costco Wholesale Corp. 0.14% 1,228 $1.1M No change
VEU Vanguard Ftse All-World Ex-U 0.13% 19,003 $1.1M No change
IWM iShares Russell 2000 ETF 0.13% 4,847 $1.1M No change
INTU Intuit Inc. 0.13% 1,675 $1.1M No change
MMM 3M Co. 0.13% 8,038 $1.0M Reduce -1.8%
JCTC Jewett-Cameron Trading Ltd. 0.12% 217,053 $1.0M No change
MSI Motorola Solutions Inc. 0.12% 2,143 $991K No change
IWR iShares Russell Mid-Cap ETF 0.11% 10,323 $913K Reduce -8.8%
YUM Yum! Brands Inc. 0.09% 5,604 $752K No change
LOW Lowe's Cos Inc. 0.09% 2,971 $733K Reduce -21.2%
MA Mastercard Inc. Class A 0.08% 1,243 $655K No change
BF.A Brown-Forman Corp. Class A 0.08% 17,200 $648K No change
IWB iShares Russell 1000 ETF 0.08% 1,980 $638K Reduce -3.9%
USMV iShares MSCI USA Min Vol Fac 0.06% 5,874 $522K No change
IVW iShares S&P 500 Growth ETF 0.06% 5,136 $521K Reduce -21.2%
DD Dupont DE Nemours Inc. 0.06% 6,809 $519K No change
V Visa Inc. Class A 0.06% 1,617 $511K Add +19.6%
WM Waste Management Inc. 0.06% 2,500 $504K No change
WBA Walgreens Boots Alliance Inc. 0.06% 53,648 $501K Reduce -3.3%
UG United Guardian Inc. 0.06% 51,909 $496K No change
COHR Coherent Corp. 0.06% 5,100 $483K Reduce -5.6%
ETN Eaton Corp. PLC 0.06% 1,425 $473K No change
AMZN Amazon.com Inc. 0.05% 2,070 $454K Add +5.1%
XLK SS Technology Select Sector 0.05% 1,950 $453K Reduce -2.5%
CINF Cincinnati Financial Corp. 0.05% 3,000 $431K No change
T AT&T Inc. 0.05% 18,098 $412K Add +3.4%
TFC Truist Financial Corp. 0.05% 9,155 $397K No change

Show all 123 holdings

Portfolio Sells Q3 2024 → Q4 2024
CVS CVS Health Corp. Reduce -4.1% 0.77% −0.34
MSFT Microsoft Corp. Reduce -1.8% 12.57% −0.33
MDLZ Mondelez International Inc. Class A Reduce -2.0% 1.22% −0.30
AGX Argan Inc. Sold out 0.00% −0.26
JNJ Johnson & Johnson Reduce -0.8% 2.19% −0.25
MRK Merck & Co. Inc. Reduce -0.3% 1.90% −0.25
PEP Pepsico Inc. Reduce -0.5% 1.85% −0.20
XOM Exxon Mobil Corp. Reduce -0.3% 2.49% −0.20
BRK.B Berkshire Hathaway Inc. Class B Reduce -1.7% 8.04% −0.16
BF.B Brown-Forman Corp. Class B Reduce -0.1% 0.48% −0.13
PG The Procter & Gamble Co. Reduce -1.8% 2.95% −0.11
MDT Medtronic PLC Reduce -1.0% 0.87% −0.11
SMG Scotts Miracle-Gro Co. Reduce -2.8% 0.32% −0.10
LLY Eli Lilly & Co. Reduce -5.6% 0.50% −0.10
TFX Teleflex Inc. Reduce -0.6% 0.26% −0.10
ABBV Abbvie Inc. Reduce -7.7% 0.47% −0.09
SJM The JM Smucker Co. Reduce -4.1% 0.57% −0.08
DOV Dover Corp. Reduce -1.9% 2.43% −0.07
CLAR Clarus Corp. Reduce -64.6% 0.04% −0.06
YETI Yeti Holdings Inc. Reduce -1.0% 1.03% −0.06
GE General Electric Reduce -1.6% 0.46% −0.06
KVUE Kenvue Inc. Reduce -8.4% 0.30% −0.05
VEA Vanguard Ftse Developed ETF Reduce -1.3% 0.47% −0.05
HD Home Depot Inc. Reduce -1.1% 1.11% −0.04
ZTS Zoetis Inc. Reduce -1.9% 0.19% −0.04
NKE Nike Inc. Class B Reduce -0.5% 0.24% −0.04
LOW Lowe's Cos Inc. Reduce -21.2% 0.09% −0.03
IVE iShares S&P 500 Value ETF Sold out 0.00% −0.03
AMAT Applied Materials Inc. Sold out 0.00% −0.03
PFE Pfizer Inc. Reduce -1.6% 0.31% −0.03
VPL Vanguard Ftse Pacific ETF Reduce -0.0% 0.29% −0.03
VGK Vanguard Ftse Europe ETF Reduce -3.5% 0.17% −0.03
EFA iShares MSCI Eafe ETF Sold out 0.00% −0.02
IVW iShares S&P 500 Growth ETF Reduce -21.2% 0.06% −0.01
SYK Stryker Corp. Reduce -1.6% 1.67% −0.01
IWR iShares Russell Mid-Cap ETF Reduce -8.8% 0.11% −0.01
MMM 3M Co. Reduce -1.8% 0.13% −0.01
GEHC GE Healthcare Technology Reduce -3.2% 0.04% −0.01
ABT Abbott Laboratories Reduce -1.6% 0.43% −0.00
CMCSA Comcast Corp. Class A Reduce -1.2% 0.03% −0.00
IWB iShares Russell 1000 ETF Reduce -3.9% 0.08% −0.00
XLK SS Technology Select Sector Reduce -2.5% 0.05% +0.00
COHR Coherent Corp. Reduce -5.6% 0.06% +0.00
WBA Walgreens Boots Alliance Inc. Reduce -3.3% 0.06% +0.00
IVV iShares Core S&P 500 ETF Reduce -0.1% 0.21% +0.01
USB US Bancorp Reduce -0.3% 0.20% +0.01
NVDA Nvidia Corp. Reduce -4.0% 0.39% +0.03
FAST Fastenal Co. Reduce -0.4% 2.36% +0.04
GLW Corning Inc. Reduce -2.7% 1.42% +0.05
META Meta Platforms Inc. Class A Reduce -1.7% 5.24% +0.09

Portfolio Buys Q3 2024 → Q4 2024
AAPL Apple Inc. Add +4.7% 4.01% +0.49
BKNG Booking Holdings Inc. Add +1.4% 2.14% +0.37
AXP American Express Co. Add +1.1% 2.50% +0.27
JPM JPMorgan Chase & Co. Add +2.8% 1.33% +0.21
THRY Thryv Holdings Inc. New 0.17% +0.17
WAT Waters Corp. Add +2.2% 1.48% +0.09
RSSS Research Solutions Inc. Add +7.1% 0.20% +0.08
VOO Vanguard S&P 500 ETF Add +3.6% 0.92% +0.06
GEV GE Vernova Inc. Add +0.4% 0.15% +0.04
EMR Emerson Electric Co. New 0.02% +0.02
CHDN Churchill Downs Inc. Add +1.6% 1.18% +0.02
V Visa Inc. Class A Add +19.6% 0.06% +0.02
VTI VG Morningstar TS MKT ETF-US Add +3.0% 0.18% +0.01
AMZN Amazon.com Inc. Add +5.1% 0.05% +0.01
IJR iShares Core S&P Small-Cap E Add +0.8% 0.72% +0.00
T AT&T Inc. Add +3.4% 0.05% +0.00
CVX Chevron Corp. Add +1.3% 0.20% +0.00
RTX RTX Corp. Add +9.5% 0.03% +0.00
EEM iShares MSCI Emerging Market Add +8.7% 0.03% +0.00
UNH Unitedhealth Group Inc. Add +12.3% 0.03% −0.00
F Ford Motor Co. Add +0.9% 0.01% −0.00
MCD McDonald's Corp. Add +1.2% 0.51% −0.01
VWO Vanguard Ftse Emerging Marke Add +0.4% 0.60% −0.04
HSY The Hershey Co. Add +1.6% 0.50% −0.05
LSTR Landstar System Inc. Add +1.8% 1.41% −0.09

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