Parthenon LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 2, 2025), Parthenon LLC reported 122 stock positions worth $813.1 million. Its top holding was Microsoft (MSFT) at 11.4% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 9.3%) and Meta Platforms Class A (META, 5.1%). Compared with Q4 2024, it opened 1 new position, sold out of 2, added to 15 and reduced 41. The biggest buy was Fastenal (FAST, shares −0%) and the biggest sale Alphabet Class A (GOOGL, shares −1%).

Most Recent 13F
Q2 2026
Location
LOUISVILLE, KY
CIK
0001088859
Portfolio Value
$813.1M (Q1 2025)
SEC Filing
0001085146-25-002554 ↗ filed May 2, 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 Q4 2024 Q1 2025: $813.1M $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 122 stocks · $813.1M
MSFT Microsoft Corp. 11.39% 246,832 $92.7M Add +0.1%
BRK.B Berkshire Hathaway Inc. Class B 9.34% 142,651 $76.0M Reduce -2.7%
META Meta Platforms Inc. Class A 5.11% 72,024 $41.5M Reduce -2.6%
PAYX Paychex Inc. 4.84% 254,920 $39.3M Reduce -1.3%
AAPL Apple Inc. 3.59% 131,450 $29.2M Reduce -0.7%
GOOGL Alphabet Inc. Class A 3.17% 166,662 $25.8M Reduce -0.8%
PG The Procter & Gamble Co. 3.05% 145,398 $24.8M Reduce -0.1%
XOM Exxon Mobil Corp. 2.77% 189,501 $22.5M Reduce -0.8%
GOOG Alphabet Inc. Class C 2.67% 138,861 $21.7M Reduce -0.0%
FAST Fastenal Co. 2.59% 271,515 $21.1M Add +0.0%
JNJ Johnson & Johnson 2.55% 125,010 $20.7M Reduce -0.2%
WMT Walmart Inc. 2.50% 231,392 $20.3M Reduce -1.1%
DOV Dover Corp. 2.31% 106,920 $18.8M No change
AXP American Express Co. 2.30% 69,520 $18.7M Reduce -0.2%
BKNG Booking Holdings Inc. 2.02% 3,574 $16.5M Add +0.5%
PEP Pepsico Inc. 1.85% 100,385 $15.1M Reduce -0.4%
SYK Stryker Corp. 1.76% 38,415 $14.3M Add +0.1%
MRK Merck & Co. Inc. 1.72% 155,964 $14.0M Reduce -1.4%
CSCO Cisco Systems Inc. 1.55% 204,041 $12.6M Reduce -0.3%
WAT Waters Corp. 1.48% 32,586 $12.0M Reduce -0.9%
MDLZ Mondelez International Inc. Class A 1.40% 167,943 $11.4M Reduce -0.5%
GLW Corning Inc. 1.38% 245,075 $11.2M Reduce -0.6%
SCHW Schwab (charles) Corp. 1.36% 141,305 $11.1M Add +0.1%
JPM JPMorgan Chase & Co. 1.29% 42,813 $10.5M Reduce -6.5%
LSTR Landstar System Inc. 1.25% 67,672 $10.2M Reduce -0.5%
CVS CVS Health Corp. 1.18% 141,848 $9.6M Reduce -0.3%
HD Home Depot Inc. 1.06% 23,551 $8.6M Reduce -0.1%
CHDN Churchill Downs Inc. 1.00% 73,086 $8.1M No change
MDT Medtronic PLC 0.99% 89,938 $8.1M Reduce -0.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.90% 74,296 $7.3M Add +0.1%
YETI Yeti Holdings Inc. filed as YETI HLDGS INC 0.90% 221,245 $7.3M Add +0.2%
VOO Vanguard S&P 500 ETF 0.89% 14,063 $7.2M Reduce -0.7%
PNC PNC Financial Services Group 0.72% 33,424 $5.9M Reduce -0.3%
BRK.A Berkshire Hathaway Inc. Class A 0.69% 7 $5.6M No change
IJR iShares Core S&P Small-Cap E 0.66% 51,317 $5.4M Reduce -0.4%
VWO Vanguard Ftse Emerging Marke 0.63% 113,968 $5.2M Add +0.4%
SJM The JM Smucker Co. filed as SMUCKER J M CO 0.62% 42,662 $5.1M Reduce -0.1%
KO The Coca-Cola Co. 0.57% 65,173 $4.7M Reduce -1.5%
PM Philip Morris International 0.57% 29,141 $4.6M No change
GE General Electric filed as GE AEROSPACE 0.56% 22,817 $4.6M No change
ABBV Abbvie Inc. 0.56% 21,598 $4.5M Reduce -0.4%
MCD McDonald's Corp. 0.56% 14,465 $4.5M Reduce -0.1%
HSY The Hershey Co. 0.52% 24,665 $4.2M Add +0.2%
LLY Eli Lilly & Co. 0.51% 5,042 $4.2M Reduce -5.8%
VEA Vanguard Ftse Developed ETF 0.51% 81,461 $4.1M Add +0.6%
ABT Abbott Laboratories 0.48% 29,563 $3.9M Reduce -6.3%
BF.B Brown-Forman Corp. Class B 0.43% 104,035 $3.5M No change
BATRK Atlanta Braves Holdings in-C 0.43% 86,440 $3.5M No change
MO Altria Group Inc. 0.36% 49,327 $3.0M No change
TPB Turning Point Brands Inc. 0.36% 48,770 $2.9M Reduce -5.8%
KVUE Kenvue Inc. 0.33% 112,780 $2.7M Reduce -2.2%
NVDA Nvidia Corp. 0.32% 23,950 $2.6M No change
CL Colgate-Palmolive Co. 0.32% 27,486 $2.6M No change
PFE Pfizer Inc. 0.30% 96,089 $2.4M No change
VPL Vanguard Ftse Pacific ETF 0.30% 33,193 $2.4M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.29% 9,342 $2.3M Reduce -5.1%
SMG Scotts Miracle-Gro Co. 0.26% 38,420 $2.1M Reduce -3.0%
CVX Chevron Corp. 0.24% 11,719 $2.0M Add +0.1%
NKE Nike Inc. Class B 0.21% 26,299 $1.7M Reduce -0.1%
IVV iShares Core S&P 500 ETF 0.20% 2,937 $1.7M Reduce -0.3%
TFX Teleflex Inc. 0.20% 11,908 $1.6M No change
THRY Thryv Holdings Inc. 0.20% 125,673 $1.6M Add +30.0%
VGK Vanguard Ftse Europe ETF 0.19% 22,400 $1.6M No change
ZTS Zoetis Inc. 0.19% 9,410 $1.5M Reduce -1.6%
RELL Richardson Elec Ltd. 0.18% 134,316 $1.5M No change
USB US Bancorp 0.18% 34,216 $1.4M No change
ADP Automatic Data Processing 0.18% 4,700 $1.4M No change
VTI VG Morningstar TS MKT ETF-US 0.18% 5,190 $1.4M Add +2.0%
BSX Boston Scientific Corp. 0.16% 13,133 $1.3M No change
SPY SS SPDR S&P 500 ETF Trust-US 0.16% 2,266 $1.3M No change
CLAR Clarus Corp. 0.15% 330,040 $1.2M Add +394.2%
GEV GE Vernova Inc. 0.15% 3,879 $1.2M Reduce -0.5%
MMM 3M Co. 0.15% 8,038 $1.2M No change
COST Costco Wholesale Corp. 0.14% 1,228 $1.2M No change
VEU Vanguard Ftse All-World Ex-U 0.14% 19,003 $1.2M No change
INTU Intuit Inc. 0.13% 1,675 $1.0M No change
RSSS Research Solutions Inc. 0.13% 392,284 $1.0M No change
JCTC Jewett-Cameron Trading Ltd. 0.12% 217,053 $996K No change
ORCL Oracle Corp. 0.12% 7,018 $981K No change
IWM iShares Russell 2000 ETF 0.12% 4,847 $967K No change
MSI Motorola Solutions Inc. 0.12% 2,143 $938K No change
YUM Yum! Brands Inc. 0.11% 5,604 $882K No change
IWR iShares Russell Mid-Cap ETF 0.11% 10,323 $878K No change
LOW Lowe's Cos Inc. 0.09% 2,971 $693K No change
MA Mastercard Inc. Class A 0.08% 1,243 $681K No change
IWB iShares Russell 1000 ETF 0.07% 1,980 $607K No change
WBA Walgreens Boots Alliance Inc. 0.07% 53,648 $599K No change
WM Waste Management Inc. 0.07% 2,500 $579K No change
USMV iShares MSCI USA Min Vol Fac 0.07% 6,174 $578K Add +5.1%
BF.A Brown-Forman Corp. Class A 0.07% 17,200 $576K No change
V Visa Inc. Class A 0.07% 1,617 $567K No change
T AT&T Inc. 0.06% 18,098 $512K No change
DD Dupont DE Nemours Inc. 0.06% 6,809 $508K No change
IVW iShares S&P 500 Growth ETF 0.06% 5,136 $477K No change
UG United Guardian Inc. 0.06% 51,909 $467K No change
CINF Cincinnati Financial Corp. 0.05% 3,000 $443K No change
AMZN Amazon.com Inc. 0.05% 2,070 $394K No change
ETN Eaton Corp. PLC 0.05% 1,425 $387K No change
TFC Truist Financial Corp. 0.05% 9,155 $377K No change
AMGN Amgen Inc. 0.05% 1,177 $367K No change
TSCO Tractor Supply Company 0.04% 6,625 $365K No change
XLK SS Technology Select Sector 0.04% 1,700 $351K Reduce -12.8%
COHR Coherent Corp. 0.04% 5,100 $331K No change
RTX RTX Corp. 0.04% 2,428 $322K No change
CB Chubb Ltd. 0.04% 1,027 $310K No change
ECL Ecolab Inc. 0.04% 1,184 $300K No change
GEHC GE Healthcare Technology 0.04% 3,684 $297K Reduce -0.7%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.04% 300 $296K No change
MRSH Marsh & McLennan Cos 0.04% 1,213 $296K No change
COP Conocophillips 0.04% 2,796 $294K No change
MCK McKesson Corp. 0.04% 426 $287K No change
UNH Unitedhealth Group Inc. 0.04% 546 $286K No change
YUMC Yum China Holdings Inc. 0.03% 5,404 $281K No change
CMCSA Comcast Corp. Class A 0.03% 7,460 $275K No change
EEM iShares MSCI Emerging Market 0.03% 6,276 $274K No change
JBL Jabil Inc. 0.03% 2,000 $272K No change
HON Honeywell International Inc. 0.03% 1,251 $265K No change
KMB Kimberly-Clark Corp. 0.03% 1,783 $254K No change
KR Kroger Co. 0.03% 3,664 $248K No change
FNDX Schwab Fndmntl US LRG Co. ETF 0.03% 9,762 $230K No change
SO The Southern Co. 0.03% 2,307 $212K New
F Ford Motor Co. filed as FORD MTR CO 0.01% 11,119 $112K No change

Portfolio Sells Q4 2024 → Q1 2025
GOOGL Alphabet Inc. Class A Reduce -0.8% 3.17% −0.68
GOOG Alphabet Inc. Class C Reduce -0.0% 2.67% −0.53
AAPL Apple Inc. Reduce -0.7% 3.59% −0.42
AXP American Express Co. Reduce -0.2% 2.30% −0.20
MRK Merck & Co. Inc. Reduce -1.4% 1.72% −0.18
LSTR Landstar System Inc. Reduce -0.5% 1.25% −0.16
META Meta Platforms Inc. Class A Reduce -2.6% 5.11% −0.13
PNC PNC Financial Services Group Reduce -0.3% 0.72% −0.06
WMT Walmart Inc. Reduce -1.1% 2.50% −0.06
SMG Scotts Miracle-Gro Co. Reduce -3.0% 0.26% −0.06
IJR iShares Core S&P Small-Cap E Reduce -0.4% 0.66% −0.06
HD Home Depot Inc. Reduce -0.1% 1.06% −0.05
GLW Corning Inc. Reduce -0.6% 1.38% −0.04
JPM JPMorgan Chase & Co. Reduce -6.5% 1.29% −0.04
NKE Nike Inc. Class B Reduce -0.1% 0.21% −0.04
VOO Vanguard S&P 500 ETF Reduce -0.7% 0.89% −0.03
DOW Dow Inc. Sold out 0.00% −0.03
EMR Emerson Electric Co. Sold out 0.00% −0.02
TPB Turning Point Brands Inc. Reduce -5.8% 0.36% −0.02
XLK SS Technology Select Sector Reduce -12.8% 0.04% −0.01
GEV GE Vernova Inc. Reduce -0.5% 0.15% −0.01
IVV iShares Core S&P 500 ETF Reduce -0.3% 0.20% −0.01
PEP Pepsico Inc. Reduce -0.4% 1.85% −0.00
GEHC GE Healthcare Technology Reduce -0.7% 0.04% +0.00
WAT Waters Corp. Reduce -0.9% 1.48% +0.00
ZTS Zoetis Inc. Reduce -1.6% 0.19% +0.00
LLY Eli Lilly & Co. Reduce -5.8% 0.51% +0.01
IBM Intl Business Machines Corp. Reduce -5.1% 0.29% +0.02
KVUE Kenvue Inc. Reduce -2.2% 0.33% +0.03
MCD McDonald's Corp. Reduce -0.1% 0.56% +0.05
ABT Abbott Laboratories Reduce -6.3% 0.48% +0.05
SJM The JM Smucker Co. Reduce -0.1% 0.62% +0.05
KO The Coca-Cola Co. Reduce -1.5% 0.57% +0.08
CSCO Cisco Systems Inc. Reduce -0.3% 1.55% +0.08
ABBV Abbvie Inc. Reduce -0.4% 0.56% +0.09
PG The Procter & Gamble Co. Reduce -0.1% 3.05% +0.10
MDT Medtronic PLC Reduce -0.3% 0.99% +0.12
MDLZ Mondelez International Inc. Class A Reduce -0.5% 1.40% +0.18
XOM Exxon Mobil Corp. Reduce -0.8% 2.77% +0.29
JNJ Johnson & Johnson Reduce -0.2% 2.55% +0.36
CVS CVS Health Corp. Reduce -0.3% 1.18% +0.41
PAYX Paychex Inc. Reduce -1.3% 4.84% +0.46
BRK.B Berkshire Hathaway Inc. Class B Reduce -2.7% 9.34% +1.30

Portfolio Buys Q4 2024 → Q1 2025
FAST Fastenal Co. Add +0.0% 2.59% +0.23
CLAR Clarus Corp. Add +394.2% 0.15% +0.12
SCHW Schwab (charles) Corp. Add +0.1% 1.36% +0.10
SYK Stryker Corp. Add +0.1% 1.76% +0.09
VEA Vanguard Ftse Developed ETF Add +0.6% 0.51% +0.04
CVX Chevron Corp. Add +0.1% 0.24% +0.04
VWO Vanguard Ftse Emerging Marke Add +0.4% 0.63% +0.03
SO The Southern Co. New 0.03% +0.03
THRY Thryv Holdings Inc. Add +30.0% 0.20% +0.02
HSY The Hershey Co. Add +0.2% 0.52% +0.01
USMV iShares MSCI USA Min Vol Fac Add +5.1% 0.07% +0.01
VTI VG Morningstar TS MKT ETF-US Add +2.0% 0.18% −0.00
DIS The Walt Disney Co. Add +0.1% 0.90% −0.10
BKNG Booking Holdings Inc. Add +0.5% 2.02% −0.11
YETI Yeti Holdings Inc. Add +0.2% 0.90% −0.13
MSFT Microsoft Corp. Add +0.1% 11.39% −1.17

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