PARTHENON LLC

CIK

1088859

Location

LOUISVILLE, KY

Portfolio Value

Small $783,254,751

Diversification

Diversified

Filing Date

Global Rank

#1,760 / 8,232 ▲ 73

Top Industry

Software - Infrastructure 10.9%

3Y Alpha vs SPY

-6.7%

Period ended 2 months ago

Filed Apr 28, 2026 · 46d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+48.9%

SPY

+76.5%

Annualised alpha

-6.7%

Max drawdown

−14.1%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

105 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

10.8%

−2.5 pts

Top 5

34.1%

−3.2 pts

Top 10

52.4%

+0.1 pts

HHI

401

Diversified−42

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	26.6%	$208,631,421	21
Financial Services	15.5%	$121,312,648	13
Healthcare	13.5%	$105,714,358	17
Consumer Defensive	12.7%	$99,195,058	16
Communication Services	11.7%	$91,716,428	5
Industrials	9.1%	$71,180,246	13
Consumer Cyclical	6.3%	$49,088,127	12
Energy	4.1%	$32,417,279	3
Basic Materials	0.3%	$2,343,166	3
Unclassified	0.2%	$1,433,349	1
Utilities	0.0%	$222,671	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

7 positions

Ticker	Company	Δ Shares	Shares	Value
CLAR	Clarus Corp	+141,375	1,146,739	$3,119,130
WSBC	Wesbanco Inc	+4,915	12,875	$444,058
PAYX	Paychex Inc	+1,433	246,323	$22,691,274
T	At&T Inc.	+530	18,404	$533,531
MSFT	Microsoft Corp	+399	227,868	$84,349,897
BKNG	Booking Holdings Inc.	+330	3,797	$15,986,584
CSCO	Cisco Systems, Inc.	+1	198,090	$15,369,803
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
NVDA	Nvidia Corp	−12,450	4,198	$732,131
MO	Altria Group, Inc.	−6,561	43,227	$2,852,549
TPB	Turning Point Brands, Inc.	−5,300	25,470	$2,210,541
YETI	YETI Holdings, Inc.	−2,500	217,430	$7,955,763
PG	PROCTER & GAMBLE Co	−2,403	132,802	$19,181,920
SCHW	Schwab Charles Corp	−2,330	131,490	$12,357,430
GOOGL	Alphabet Inc.	−2,030	157,083	$45,170,787
FAST	Fastenal Co	−1,768	543,072	$25,198,540
AAPL	Apple Inc.	−1,634	127,221	$32,287,417
MDLZ	Mondelez International, Inc.	−1,631	138,378	$7,976,107
JNJ	Johnson & Johnson	−1,473	120,839	$29,537,885
CVS	CVS HEALTH Corp	−1,465	113,371	$8,142,305
CRM	Salesforce, Inc.	−1,450	56,355	$10,519,787
WMT	Walmart Inc.	−1,422	226,440	$28,141,963
SMG	Scotts Miracle-Gro Co	−1,400	27,535	$1,674,403
AXP	American Express Co	−1,285	66,125	$20,001,490
XOM	Exxon Mobil Corp	−1,021	174,820	$29,659,961
PEP	Pepsico Inc	−992	99,973	$15,524,807
META	Meta Platforms, Inc.	−897	67,643	$38,700,589
KVUE	Kenvue Inc.	−842	67,608	$1,165,561
MRK	Merck & Co., Inc.	−679	153,062	$18,411,827
NKE	NIKE, Inc.	−670	28,249	$1,492,112
JPM	Jpmorgan Chase & Co	−522	41,938	$12,336,482
CHDN	Churchill Downs Inc	−432	72,654	$6,526,508
HSY	Hershey Co	−350	23,215	$4,826,166
No positions match the current search.

New Positions

Positions the filer opened this quarter

No qualifying positions this quarter.

Sold Out

Positions the filer fully exited

2 positions

Ticker	Company	Shares	Value
TSCO	Tractor Supply Co /De/	6,625	$331,316
EXPE	Expedia Group, Inc.	790	$223,814
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

105 positions · $783,254,751 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Technology Utilities

Showing 1–50 of 105 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
MSFT	Microsoft Corp Technology	Added	227,868	+399	$84,349,897	−23.3%	10.77%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	138,348	-271	$66,296,361	−4.9%	8.46%
GOOGL	Alphabet Inc. Communication Services	Reduced	157,083	-2,030	$45,170,787	−9.3%	5.77%
META	Meta Platforms, Inc. Communication Services	Reduced	67,643	-897	$38,700,589	−14.5%	4.94%
AAPL	Apple Inc. Technology	Reduced	127,221	-1,634	$32,287,417	−7.8%	4.12%
GLW	Corning Inc /Ny Technology	Reduced	230,615	-35	$31,356,721	+55.3%	4.00%
XOM	Exxon Mobil Corp Energy	Reduced	174,820	-1,021	$29,659,961	+40.2%	3.79%
JNJ	Johnson & Johnson Healthcare	Reduced	120,839	-1,473	$29,537,885	+16.7%	3.77%
WMT	Walmart Inc. Consumer Defensive	Reduced	226,440	-1,422	$28,141,963	+10.9%	3.59%
FAST	Fastenal Co Industrials	Reduced	543,072	-1,768	$25,198,540	+15.2%	3.22%
PAYX	Paychex Inc Technology	Added	246,323	+1,433	$22,691,274	−17.4%	2.90%
DOV	DOVER Corp Industrials	Reduced	105,018	-278	$21,891,002	+6.5%	2.79%
AXP	American Express Co Financial Services	Reduced	66,125	-1,285	$20,001,490	−19.8%	2.55%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	132,802	-2,403	$19,181,920	−1.0%	2.45%
MRK	Merck & Co., Inc. Healthcare	Reduced	153,062	-679	$18,411,827	+13.8%	2.35%
BKNG	Booking Holdings Inc. Consumer Cyclical	Added	3,797	+330	$15,986,584	−13.9%	2.04%
PEP	Pepsico Inc Consumer Defensive	Reduced	99,973	-992	$15,524,807	+7.1%	1.98%
CSCO	Cisco Systems, Inc. Technology	Added	198,090	+1	$15,369,803	+0.7%	1.96%
SCHW	Schwab Charles Corp Financial Services	Reduced	131,490	-2,330	$12,357,430	−7.6%	1.58%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	41,938	-522	$12,336,482	−9.8%	1.58%
SYK	Stryker Corp Healthcare	Reduced	37,200	-35	$12,223,548	−6.6%	1.56%
LSTR	Landstar System Inc Industrials	Reduced	66,909	-55	$10,726,181	+11.5%	1.37%
CRM	Salesforce, Inc. Technology	Reduced	56,355	-1,450	$10,519,787	−31.3%	1.34%
ICLR	Icon PLC Healthcare	Held	79,203	0	$8,764,603	−39.3%	1.12%
WAT	Waters Corp /De/ Healthcare	Reduced	29,003	-95	$8,637,093	−21.9%	1.10%
CVS	CVS HEALTH Corp Healthcare	Reduced	113,371	-1,465	$8,142,305	−10.7%	1.04%
MDLZ	Mondelez International, Inc. Consumer Defensive	Reduced	138,378	-1,631	$7,976,107	+5.8%	1.02%
YETI	YETI Holdings, Inc. Consumer Cyclical	Reduced	217,430	-2,500	$7,955,763	−18.1%	1.02%
HD	Home Depot, Inc. Consumer Cyclical	Held	23,098	0	$7,596,701	−4.4%	0.97%
DIS	Walt Disney Co Communication Services	Reduced	73,666	-100	$7,099,929	−15.4%	0.91%
PNC	Pnc Financial Services Group, Inc. Financial Services	Held	33,424	0	$6,955,200	−0.3%	0.89%
CHDN	Churchill Downs Inc Consumer Cyclical	Reduced	72,654	-432	$6,526,508	−21.5%	0.83%
GE	General Electric Co Industrials	Reduced	22,204	-188	$6,300,829	−8.6%	0.80%
MDT	Medtronic plc Healthcare	Reduced	61,403	-235	$5,320,569	−10.1%	0.68%
PM	Philip Morris International Inc. Consumer Defensive	Reduced	29,441	-49	$4,867,774	+2.9%	0.62%
HSY	Hershey Co Consumer Defensive	Reduced	23,215	-350	$4,826,166	+12.5%	0.62%
KO	Coca Cola Co Consumer Defensive	Reduced	61,690	-344	$4,691,524	+8.2%	0.60%
MCD	Mcdonalds Corp Consumer Cyclical	Reduced	12,788	-177	$3,974,382	+0.3%	0.51%
LLY	ELI LILLY & Co Healthcare	Reduced	4,083	-173	$3,755,420	−17.9%	0.48%
ABBV	AbbVie Inc. Healthcare	Reduced	15,215	-152	$3,309,110	−5.8%	0.42%
GEV	GE Vernova Inc. Industrials	Reduced	3,763	-79	$3,284,722	+30.8%	0.42%
CLAR	Clarus Corp Consumer Cyclical	Added	1,146,739	+141,375	$3,119,130	−7.4%	0.40%
SJM	J M SMUCKER Co Consumer Defensive	Reduced	31,348	-295	$3,023,201	−2.3%	0.39%
MO	Altria Group, Inc. Consumer Defensive	Reduced	43,227	-6,561	$2,852,549	−0.6%	0.36%
CVX	Chevron Corp Energy	Reduced	11,543	-116	$2,388,246	+34.4%	0.30%
CL	Colgate Palmolive Co Consumer Defensive	Held	27,486	0	$2,342,631	+7.9%	0.30%
TPB	Turning Point Brands, Inc. Consumer Defensive	Reduced	25,470	-5,300	$2,210,541	−33.7%	0.28%
ABT	Abbott Laboratories Healthcare	Reduced	21,436	-296	$2,200,834	−19.2%	0.28%
SMG	Scotts Miracle-Gro Co Basic Materials	Reduced	27,535	-1,400	$1,674,403	−0.8%	0.21%
NKE	NIKE, Inc. Consumer Cyclical	Reduced	28,249	-670	$1,492,112	−19.0%	0.19%