PARTHENON LLC
Long book
$874.7M
Q1 2026
Positions
127
Top-10 weight
48%
concentration
Last quarter
+11.8%
SPY +14.8%
Turnover
3%
of book per quarter
Strategy in plain words
auto-generated from filingsPARTHENON LLC is a diversified fundamental manager, running a $874.7M US long book across 127 positions.
The portfolio is moderately concentrated (top 10 ≈ 48% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: MICROSOFT CORP, BERKSHIRE HATHAWAY INC-CL B, ALPHABET INC-CL A, META PLATFORMS INC-CLASS A, ALPHABET INC-CL C.
Over the last 9 quarters its long book ran on average 1pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+1.4%
Q2 2024
+6.6%
Q3 2024
+0.0%
Q4 2024
-0.6%
Q1 2025
+7.1%
Q2 2025
+6.4%
Q3 2025
+2.9%
Q4 2025
-4.4%
Q1 2026
+11.8%
Sector allocation
Technology 32%
Financials 15%
Healthcare 13%
Industrials 11%
Consumer discretionary 9%
Consumer staples 6%
Services media 6%
Other 5%
Long book by quarter
What does PARTHENON LLC own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| MSFT MICROSOFT CORP | Technology | 227.9K | $84.3M | 9.6% | +0.2% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 138.3K | $66.3M | 7.6% | -0.2% |
| GOOGL ALPHABET INC-CL A | Technology | 157.1K | $45.2M | 5.2% | -1.3% |
| META META PLATFORMS INC-CLASS A | Technology | 67.6K | $38.7M | 4.4% | -1.3% |
| GOOG ALPHABET INC-CL C | Technology | 112.8K | $32.4M | 3.7% | -3.8% |
| AAPL APPLE INC | Technology | 127.2K | $32.3M | 3.7% | -1.3% |
| GLW CORNING INC | Industrials | 230.6K | $31.4M | 3.6% | 0.0% |
| XOM EXXON MOBIL CORP | Energy | 174.8K | $29.7M | 3.4% | -0.6% |
| JNJ JOHNSON & JOHNSON | Healthcare | 120.8K | $29.5M | 3.4% | -1.2% |
| WMT WALMART INC | Consumer discretionary | 226.4K | $28.1M | 3.2% | -0.6% |
| FAST FASTENAL CO | Consumer discretionary | 543.1K | $25.2M | 2.9% | -0.3% |
| PAYX PAYCHEX INC | Services media | 246.3K | $22.7M | 2.6% | +0.6% |
| DOV DOVER CORP | Industrials | 105.0K | $21.9M | 2.5% | -0.3% |
| AXP AMERICAN EXPRESS CO | Financials | 66.1K | $20.0M | 2.3% | -1.9% |
| PG PROCTER & GAMBLE CO/THE | Other | 132.8K | $19.2M | 2.2% | -1.8% |
| MRK MERCK & CO. INC. | Healthcare | 153.1K | $18.4M | 2.1% | -0.4% |
| BKNG BOOKING HOLDINGS INC | Industrials | 3.8K | $16.0M | 1.8% | +9.5% |
| PEP PEPSICO INC | Consumer staples | 100.0K | $15.5M | 1.8% | -1.0% |
| CSCO CISCO SYSTEMS INC | Technology | 198.1K | $15.4M | 1.8% | 0.0% |
| SCHW SCHWAB (CHARLES) CORP | Financials | 131.5K | $12.4M | 1.4% | -1.7% |
| JPM JPMORGAN CHASE & CO | Financials | 41.9K | $12.3M | 1.4% | -1.2% |
| SYK STRYKER CORP | Healthcare | 37.2K | $12.2M | 1.4% | -0.1% |
| LSTR LANDSTAR SYSTEM INC | Industrials | 66.9K | $10.7M | 1.2% | -0.1% |
| CRM SALESFORCE INC | Technology | 56.4K | $10.5M | 1.2% | -2.5% |
| BATRK ATLANTA BRAVES HOLDINGS IN-C | Services media | 223.7K | $9.6M | 1.1% | Held |
| ICLR ICON PLC | Healthcare | 79.2K | $8.8M | 1.0% | Held |
| WAT WATERS CORP | Healthcare | 29.0K | $8.6M | 1.0% | -0.3% |
| CVS CVS HEALTH CORP | Healthcare | 113.4K | $8.1M | 0.9% | -1.3% |
| MDLZ MONDELEZ INTERNATIONAL INC-A | Consumer staples | 138.4K | $8.0M | 0.9% | -1.2% |
| YETI YETI HOLDINGS INC | Other | 217.4K | $8.0M | 0.9% | -1.1% |
| HD HOME DEPOT INC | Consumer discretionary | 23.1K | $7.6M | 0.9% | Held |
| DIS WALT DISNEY CO/THE | Services media | 73.7K | $7.1M | 0.8% | -0.1% |
| PNC PNC FINANCIAL SERVICES GROUP | Financials | 33.4K | $7.0M | 0.8% | Held |
| CHDN CHURCHILL DOWNS INC | Services media | 72.7K | $6.5M | 0.7% | -0.6% |
| GE GENERAL ELECTRIC | Industrials | 22.2K | $6.3M | 0.7% | -0.8% |
| MDT MEDTRONIC PLC | Healthcare | 61.4K | $5.3M | 0.6% | -0.4% |
| PM PHILIP MORRIS INTERNATIONAL | Consumer staples | 29.4K | $4.9M | 0.6% | -0.2% |
| HSY HERSHEY CO/THE | Consumer staples | 23.2K | $4.8M | 0.6% | -1.5% |
| KO COCA-COLA CO/THE | Consumer staples | 61.7K | $4.7M | 0.5% | -0.6% |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 6 | $4.3M | 0.5% | Held |
| MCD MCDONALD'S CORP | Consumer discretionary | 12.8K | $4.0M | 0.5% | -1.4% |
| LLY ELI LILLY & CO | Healthcare | 4.1K | $3.8M | 0.4% | -4.1% |
| ABBV ABBVIE INC | Healthcare | 15.2K | $3.3M | 0.4% | -1.0% |
| GEV GE VERNOVA INC | Industrials | 3.8K | $3.3M | 0.4% | -2.1% |
| CLAR CLARUS CORP | Other | 1.1M | $3.1M | 0.4% | +14.1% |
| SJM JM SMUCKER CO/THE | Consumer staples | 31.3K | $3.0M | 0.3% | -0.9% |
| MO ALTRIA GROUP INC | Consumer staples | 43.2K | $2.9M | 0.3% | -13.2% |
| BF/B BROWN-FORMAN CORP-CLASS B | Consumer staples | 105.0K | $2.8M | 0.3% | Held |
| CVX CHEVRON CORP | Energy | 11.5K | $2.4M | 0.3% | -1.0% |
| CL COLGATE-PALMOLIVE CO | Other | 27.5K | $2.3M | 0.3% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 28, 2026 | 127 | $874.7M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 23, 2026 | 131 | $926.7M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 31, 2025 | 129 | $902.5M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 29, 2025 | 126 | $874.1M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 2, 2025 | 122 | $813.1M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 3, 2025 | 123 | $826.7M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 5, 2024 | 125 | $837.4M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 8, 2024 | 121 | $787.2M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 30, 2024 | 121 | $788.8M | canonical | SEC ↗ |
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