# PARTHENON LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1088859. Source: https://holderbook.com/funds/1088859-parthenon-llc/

- Reported value: $962.0M
- Positions: 133
- Weight of the ten largest: 47.9%
- Filed: 2026-07-23

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $84.8M | 227,288 | 8.8% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $68.4M | 136,778 | 7.1% | 31 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $58.5M | 228,865 | 6.1% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $54.1M | 151,488 | 5.6% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $38.7M | 109,471 | 4.0% | 31 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $38.0M | 67,543 | 4.0% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $36.8M | 127,020 | 3.8% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $30.5M | 120,079 | 3.2% | 31 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $25.5M | 225,415 | 2.7% | 31 |
| FASTENAL CO | [FAST](https://holderbook.com/stocks/FAST/) | $25.3M | 527,272 | 2.6% | 31 |
| PAYCHEX INC | [PAYX](https://holderbook.com/stocks/PAYX/) | $24.4M | 248,007 | 2.5% | 31 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $23.5M | 171,640 | 2.4% | 31 |
| DOVER CORP | [DOV](https://holderbook.com/stocks/DOV/) | $23.4M | 104,228 | 2.4% | 31 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $23.0M | 195,450 | 2.4% | 31 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $22.5M | 66,425 | 2.3% | 31 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $19.2M | 149,637 | 2.0% | 31 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $18.5M | 126,415 | 1.9% | 31 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $17.0M | 95,400 | 1.8% | 29 |
| LANDSTAR SYS INC | [LSTR](https://holderbook.com/stocks/LSTR/) | $13.9M | 67,134 | 1.4% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $13.7M | 41,853 | 1.4% | 31 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $13.7M | 101,089 | 1.4% | 31 |
| ICON PUB LTD CO | [ICLR](https://holderbook.com/stocks/ICLR/) | $13.7M | 78,653 | 1.4% | 5 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $12.2M | 132,340 | 1.3% | 14 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $11.8M | 37,477 | 1.2% | 31 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $11.6M | 112,171 | 1.2% | 31 |
| ATLANTA BRAVES HLDGS INC | [BATRK](https://holderbook.com/stocks/BATRK/) | $11.0M | 211,315 | 1.1% | 12 |
| WATERS CORP | [WAT](https://holderbook.com/stocks/WAT/) | $10.9M | 28,978 | 1.1% | 31 |
| YETI HLDGS INC | [YETI](https://holderbook.com/stocks/YETI/) | $10.6M | 213,830 | 1.1% | 16 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $10.5M | 15,319 | 1.1% | 31 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $8.9M | 56,805 | 0.9% | 3 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $8.3M | 55,967 | 0.9% | 31 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $8.2M | 22,067 | 0.9% | 20 |
| PNC FINL SVCS GROUP INC | [PNC](https://holderbook.com/stocks/PNC/) | $8.2M | 33,424 | 0.9% | 31 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $8.1M | 23,058 | 0.8% | 31 |
| MONDELEZ INTL INC | [MDLZ](https://holderbook.com/stocks/MDLZ/) | $7.8M | 134,998 | 0.8% | 31 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $7.0M | 72,381 | 0.7% | 31 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $6.7M | 112,336 | 0.7% | 31 |
| CHURCHILL DOWNS INC | [CHDN](https://holderbook.com/stocks/CHDN/) | $6.5M | 72,654 | 0.7% | 31 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $6.1M | 86,150 | 0.6% | 31 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $5.3M | 29,441 | 0.6% | 31 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $4.8M | 58,529 | 0.5% | 31 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $4.7M | 3,923 | 0.5% | 31 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $4.7M | 59,803 | 0.5% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $4.5M | 6 | 0.5% | 31 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $4.4M | 3,732 | 0.5% | 9 |
| HERSHEY CO | [HSY](https://holderbook.com/stocks/HSY/) | $3.9M | 22,340 | 0.4% | 31 |
| CLARUS CORP NEW | [CLAR](https://holderbook.com/stocks/CLAR/) | $3.9M | 1,241,662 | 0.4% | 26 |
| VANGUARD INTL EQUITY INDEX F | [VPL](https://holderbook.com/stocks/VPL/) | $3.6M | 31,229 | 0.4% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $3.6M | 14,215 | 0.4% | 31 |
| SMUCKER J M CO | [SJM](https://holderbook.com/stocks/SJM/) | $3.5M | 31,148 | 0.4% | 31 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $3.5M | 12,788 | 0.4% | 31 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $3.1M | 43,227 | 0.3% | 31 |
| BROWN FORMAN CORP | [BFB](https://holderbook.com/stocks/BFB/) | $2.8M | 105,035 | 0.3% | 31 |
| TURNING PT BRANDS INC | [TPB](https://holderbook.com/stocks/TPB/) | $2.7M | 31,470 | 0.3% | 26 |
| COLGATE PALMOLIVE CO | [CL](https://holderbook.com/stocks/CL/) | $2.5M | 27,486 | 0.3% | 31 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $2.0M | 5,332 | 0.2% | 31 |
| VANGUARD INTL EQUITY INDEX F | [VGK](https://holderbook.com/stocks/VGK/) | $2.0M | 22,256 | 0.2% | 31 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $1.9M | 21,374 | 0.2% | 31 |
| SEAGATE TECHNOLOGY HLDNGS PL | [STX](https://holderbook.com/stocks/STX/) | $1.9M | 2,000 | 0.2% | 3 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $1.9M | 2,557 | 0.2% | 31 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $1.9M | 11,543 | 0.2% | 31 |
| RICHARDSON ELECTRS LTD | [RELL](https://holderbook.com/stocks/RELL/) | $1.9M | 98,316 | 0.2% | 12 |
| COHERENT CORP | [COHR](https://holderbook.com/stocks/COHR/) | $1.8M | 4,600 | 0.2% | 11 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $1.7M | 6,033 | 0.2% | 31 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $1.6M | 2,204 | 0.2% | 31 |
| SCOTTS MIRACLE-GRO CO | [SMG](https://holderbook.com/stocks/SMG/) | $1.6M | 23,735 | 0.2% | 31 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $1.4M | 4,761 | 0.1% | 31 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $1.4M | 16,928 | 0.1% | 31 |
| TELEFLEX INCORPORATED | [TFX](https://holderbook.com/stocks/TFX/) | $1.3M | 10,430 | 0.1% | 31 |
| KENVUE INC | [KVUE](https://holderbook.com/stocks/KVUE/) | $1.3M | 67,054 | 0.1% | 12 |
| NIKE INC | [NKE](https://holderbook.com/stocks/NKE/) | $1.2M | 30,295 | 0.1% | 8 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $1.2M | 7,661 | 0.1% | 31 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $1.2M | 1,278 | 0.1% | 31 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $1.1M | 2,575 | 0.1% | 4 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $1.1M | 44,962 | 0.1% | 31 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $1.1M | 4,700 | 0.1% | 31 |
| ISHARES TR | [IWR](https://holderbook.com/stocks/IWR/) | $1.0M | 9,323 | 0.1% | 31 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $1.0M | 6,968 | 0.1% | 30 |
| RESEARCH SOLUTIONS INC | [RSSS](https://holderbook.com/stocks/RSSS/) | $910.1K | 392,284 | 0.1% | 24 |
| YUM BRANDS INC | [YUM](https://holderbook.com/stocks/YUM/) | $895.9K | 5,604 | 0.1% | 31 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $867.6K | 1,200 | 0.1% | 5 |
| ISHARES TR | [MUB](https://holderbook.com/stocks/MUB/) | $828.7K | 7,700 | 0.1% | 1 |
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $810.8K | 1,980 | 0.1% | 31 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $800.4K | 4,000 | 0.1% | 23 |
| JABIL INC | [JBL](https://holderbook.com/stocks/JBL/) | $771.0K | 2,000 | 0.1% | 13 |
| THRYV HLDGS INC | [THRY](https://holderbook.com/stocks/THRY/) | $727.8K | 184,717 | 0.1% | 7 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $706.4K | 5,136 | 0.1% | 31 |
| MOTOROLA SOLUTIONS INC | [MSI](https://holderbook.com/stocks/MSI/) | $682.3K | 1,643 | 0.1% | 31 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $663.7K | 9,236 | 0.1% | 31 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $655.1K | 2,971 | 0.1% | 31 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $638.4K | 1,243 | 0.1% | 30 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $607.2K | 1,425 | 0.1% | 14 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $559.2K | 2,935 | 0.1% | 23 |
| WASTE MGMT INC DEL | [WM](https://holderbook.com/stocks/WM/) | $557.2K | 2,500 | 0.1% | 31 |
| CINCINNATI FINL CORP | [CINF](https://holderbook.com/stocks/CINF/) | $555.4K | 3,000 | 0.1% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $554.8K | 1,617 | 0.1% | 11 |
| JEWETT CAMERON TRADING LTD | [JCTC](https://holderbook.com/stocks/JCTC/) | $525.3K | 217,053 | 0.1% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $516.0K | 2,165 | 0.1% | 25 |
| BROWN FORMAN CORP | [BFA](https://holderbook.com/stocks/BFA/) | $498.0K | 18,200 | 0.1% | 31 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $460.7K | 2,428 | 0.0% | 8 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +11.0% | +14.8% | -3.8% | 100% |
| Q1 2026 | -4.7% | -4.6% | -0.1% | 100% |
| Q4 2025 | +2.5% | +2.4% | +0.2% | 100% |
| Q3 2025 | +6.1% | +7.8% | -1.8% | 100% |
| Q2 2025 | +6.7% | +10.5% | -3.7% | 100% |
| Q1 2025 | -0.9% | -4.6% | +3.6% | 100% |
| Q4 2024 | -0.3% | +2.1% | -2.5% | 100% |
| Q3 2024 | +6.2% | +5.4% | +0.8% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $962.0M | 133 |
| Q1 2026 | $874.7M | 127 |
| Q4 2025 | $926.7M | 131 |
| Q3 2025 | $902.5M | 129 |
| Q2 2025 | $874.1M | 126 |
| Q1 2025 | $813.1M | 122 |
| Q4 2024 | $826.7M | 123 |
| Q3 2024 | $837.4M | 125 |
| Q2 2024 | $787.2M | 121 |
| Q1 2024 | $788.8M | 121 |
| Q4 2023 | $723.4M | 117 |
| Q3 2023 | $666.5M | 114 |