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Asset Manager ← All Institutions

PARTHENON LLC

435 NORTH WHITTINGTON PARKWAY SUITE 180, LOUISVILLE, KY 40222 • 5023275660

Q4 2025 · Filed 2026-01-23
Market Value
$918M
+2.5%
Holdings
134
+5
New Purchases
6
Added To
8
Closed
4
Reduced
57
Top 10 Concentration
49.0%
Turnover
7.5%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CRM 1.67% 0.00% +1.67% $15M
GOOGL 5.43% 4.36% +1.06% $50M
GOOG 4.01% 3.46% +0.55% $37M
MRK 1.76% 1.44% +0.32% $16M
DOV 2.24% 1.98% +0.26% $21M
YETI 1.06% 0.82% +0.24% $10M
JNJ 2.76% 2.56% +0.20% $25M
WAT 1.20% 1.01% +0.19% $11M
AXP 2.72% 2.54% +0.18% $25M
WMT 2.77% 2.62% +0.15% $25M
CSCO 1.66% 1.52% +0.14% $15M
LLY 0.50% 0.37% +0.13% $5M
LSTR 1.05% 0.93% +0.12% $10M
CHDN 0.91% 0.79% +0.11% $8M
CLAR 0.37% 0.28% +0.09% $3M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MSFT 11.99% 13.45% -1.46% $110M
META 4.93% 5.70% -0.77% $45M
FAST 2.38% 2.97% -0.59% $22M
PAYX 2.99% 3.49% -0.50% $27M
MDLZ 0.82% 1.14% -0.32% $8M
PG 2.11% 2.36% -0.25% $19M
HD 0.87% 1.05% -0.18% $8M
BRK-B 7.59% 7.76% -0.17% $70M
USB 0.04% 0.17% -0.13% $361K
SYK 1.43% 1.55% -0.12% $13M
MDT 0.65% 0.77% -0.12% $6M
BKNG 2.02% 2.12% -0.10% $19M
THRY 0.12% 0.20% -0.08% $1M
ORCL 0.15% 0.22% -0.07% $1M
SJM 0.34% 0.40% -0.06% $3M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 21.3%
Financial Services 19.6%
Communication Services 14.4%
Healthcare 12.2%
Consumer Defensive 11.8%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 42 $598M 65.1%
Large Cap 78 $264M 28.7%
Mid Cap 7 $45M 5.0%
Small Cap 1 $3M 0.4%
Micro Cap 6 $8M 0.9%

Portfolio Analytics

Avg Market Cap
$393.4B
Median Market Cap
$91.7B
Avg P/E
29.7
Median P/E
25.6
Avg Dividend Yield
0.02%
Avg Beta
0.89
# Stocks
113
# ETFs / Funds
21

Top Holdings (134 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MSFT 11.99% 227,469 $110M $483.62 -$10M -4,987 -2.1%
2 BRK-B 7.59% 138,619 $70M $502.65 $198K +418 +0.3%
3 GOOGL 5.43% 159,113 $50M $313.00 $11M -1,529 -0.9%
4 META 4.93% 68,540 $45M $660.09 -$6M -935 -1.4%
5 GOOG 4.01% 117,331 $37M $313.80 $6M -10,035 -7.9%
6 AAPL 3.82% 128,855 $35M $271.86 $2M -2,614 -2.0%
7 PAYX 2.99% 244,890 $27M $112.18 -$4M -1,914 -0.8%
8 WMT 2.77% 227,862 $25M $111.41 $2M +609 +0.3%
9 JNJ 2.76% 122,312 $25M $206.95 $2M -1,152 -0.9%
10 AXP 2.72% 67,410 $25M $369.95 $2M -1,078 -1.6%
11 FAST 2.38% 544,840 $22M $40.13 -$5M +2,024 +0.4%
12 XOM 2.31% 175,841 $21M $120.34 $1M -1,236 -0.7%
13 DOV 2.24% 105,296 $21M $195.24 $3M -967 -0.9%
14 GLW 2.20% 230,650 $20M $87.56 $1M -1,993 -0.9%
15 PG 2.11% 135,205 $19M $143.31 -$2M -2,547 -1.9%
16 BKNG 2.02% 3,467 $19M $5,355.33 -$433K -52 -1.5%
17 MRK 1.76% 153,741 $16M $105.26 $3M -421 -0.3%
18 CRM 1.67% 57,805 $15M $264.91 +57,805 NEW
19 CSCO 1.66% 198,089 $15M $77.03 $2M -544 -0.3%
20 PEP 1.58% 100,965 $14M $143.52 $215K -685 -0.7%
21 ICLR 1.57% 79,203 $14M $182.22 $470K -582 -0.7%
22 JPM 1.49% 42,460 $14M $322.22 $4K -900 -2.1%
23 SCHW 1.46% 133,820 $13M $99.91 $397K -2,068 -1.5%
24 SYK 1.43% 37,235 $13M $351.47 -$787K -297 -0.8%
25 WAT 1.20% 29,098 $11M $379.83 $2M -1,163 -3.8%
26 YETI 1.06% 219,930 $10M $44.17 $2M -1,912 -0.9%
27 LSTR 1.05% 66,964 $10M $143.70 $1M -913 -1.4%
28 CVS 0.99% 114,836 $9M $79.36 $78K -5,009 -4.2%
29 VOO 0.99% 14,480 $9M $627.13 -$191K -660 -4.4%
30 DIS 0.91% 73,766 $8M $113.77 -$99K -393 -0.5%
31 CHDN 0.91% 73,086 $8M $113.78 $1M
32 HD 0.87% 23,098 $8M $344.10 -$1M -5 -0.0%
33 MDLZ 0.82% 140,009 $8M $53.83 -$3M -23,225 -14.2%
34 PNC 0.76% 33,424 $7M $208.73 $261K
35 GE 0.75% 22,392 $7M $308.03 $113K -161 -0.7%
36 IJR 0.73% 55,967 $7M $120.18 $86K +85 +0.1%
37 VWO 0.69% 117,033 $6M $53.76 -$113K -1,185 -1.0%
38 MDT 0.65% 61,638 $6M $96.06 -$933K -10,331 -14.3%
39 VEA 0.56% 81,775 $5M $62.47 -$954 -3,496 -4.1%
40 PM 0.52% 29,490 $5M $160.40 -$53K
41 LLY 0.50% 4,256 $5M $1,074.68 $1M -46 -1.1%
42 BRK-A 0.49% 6 $5M $754,800.00 $4K
43 KO 0.47% 62,034 $4M $69.91 $223K
44 HSY 0.47% 23,565 $4M $181.98 -$246K -675 -2.8%
45 MCD 0.43% 12,965 $4M $305.63 -$433K -1,500 -10.4%
46 ABBV 0.38% 15,367 $4M $228.49 -$47K
47 CLAR 0.37% 1,005,364 $3M $3.35 $847K +285,124 +39.6%
48 TPB 0.36% 30,770 $3M $108.40 $294K
49 NVDA 0.34% 16,648 $3M $186.50 -$374K -2,000 -10.7%
50 SJM 0.34% 31,643 $3M $97.81 -$459K -1,085 -3.3%
51 VPL 0.32% 32,993 $3M $90.40 $84K
52 MO 0.31% 49,788 $3M $57.66 -$418K
53 BF-B 0.30% 105,035 $3M $26.06 -$107K
54 ABT 0.30% 21,732 $3M $125.29 -$188K
55 GEV 0.27% 3,842 $3M $653.57 $141K -13 -0.3%
56 CL 0.24% 27,486 $2M $79.02 -$25K
57 IVV 0.21% 2,850 $2M $684.94 $20K -37 -1.3%
58 VGK 0.20% 22,400 $2M $83.61 $85K
59 IBM 0.20% 6,274 $2M $296.21 -$232K -1,134 -15.3%
60 NKE 0.20% 28,919 $2M $63.71 -$369K -2,790 -8.8%
61 VTI 0.20% 5,407 $2M $335.27 -$22K -185 -3.3%
62 CVX 0.19% 11,659 $2M $152.41 -$43K -60 -0.5%
63 SMG 0.18% 28,935 $2M $58.35 -$35K -1,320 -4.4%
64 SPY 0.16% 2,204 $2M $681.92 $35K
65 RELL 0.16% 134,316 $1M $10.88 $146K
66 TFX 0.16% 11,808 $1M $122.04 -$4K
67 ORCL 0.15% 7,073 $1M $194.91 -$611K
68 VEU 0.14% 16,928 $1M $73.56 $9K -400 -2.3%
69 MMM 0.13% 7,661 $1M $160.10 -$21K -376 -4.7%
70 ADP 0.13% 4,700 $1M $257.23 -$170K
71 ZTS 0.13% 9,451 $1M $125.82 -$199K -34 -0.4%
72 IWM 0.13% 4,797 $1M $246.16 $32K +50 +1.1%
73 KVUE 0.13% 68,450 $1M $17.25 -$187K -15,796 -18.8%
74 RSSS 0.13% 392,284 $1M $2.94 -$310K
75 COST 0.12% 1,303 $1M $862.34 -$82K
76 PFE 0.12% 45,028 $1M $24.90 -$147K -4,752 -9.6%
77 THRY 0.12% 184,717 $1M $6.05 -$700K +34,044 +22.6%
78 BSX 0.11% 10,509 $1M $95.35 -$24K
79 COHR 0.10% 4,900 $904K $184.57 $361K -140 -2.8%
80 IWR 0.10% 9,323 $898K $96.27 -$3K
81 YUM 0.09% 5,604 $848K $151.28 -$4K
82 INTU 0.09% 1,275 $845K $662.42 -$299K -400 -23.9%
83 IWB 0.08% 1,980 $739K $373.44 $16K
84 LOW 0.08% 2,971 $716K $241.16 -$30K
85 MA 0.08% 1,243 $710K $570.88 $3K
86 MSI 0.07% 1,707 $655K $383.43 -$126K
87 IVW 0.07% 5,136 $633K $123.26 $13K
88 V 0.06% 1,663 $583K $350.71 $16K
89 USMV 0.06% 6,174 $581K $94.16 -$6K
90 WM 0.06% 2,538 $558K $219.71 -$3K
91 STX 0.06% 2,000 $551K $275.39 +2,000 NEW
92 AMZN 0.06% 2,265 $523K $230.82 -$2K -125 -5.2%
93 CINF 0.05% 3,000 $490K $163.32 $16K
94 JCTCF 0.05% 217,053 $488K $2.25 -$258K
95 BF-A 0.05% 18,200 $479K $26.31 -$11K
96 JBL 0.05% 2,000 $456K $228.02 $22K
97 LRCX 0.05% 2,660 $455K $171.18 $99K
98 ETN 0.05% 1,425 $454K $318.51 -$79K
99 TFC 0.05% 9,112 $448K $49.21 $32K
100 XLK 0.05% 3,100 $446K $143.97 $9K +1,550 +100.0%

New Positions

SymbolValue% Port
CRM $15M 1.67%
STX $551K 0.06%
WSBC $265K 0.03%
CAT $229K 0.02%
EXPE $224K 0.02%
EW $215K 0.02%

Sold Out Positions

SymbolValue% Port
BLK —%
DD —%
GEHC —%
KMB —%
View SEC EDGAR Filings for PARTHENON LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms