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Livermore
Livermore
ZHEN

Parthenon LLC

SEC CIK
0001088859
Latest filing
Jul 23, 2026

The latest 13F from Parthenon LLC covers Q2 2026 (filed Jul 23, 2026): 133 long positions worth $962.0M. The top 10 holdings make up 47.9% of the portfolio, and the largest is Microsoft Corp (MSFT) at 8.8%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
11
Est. +$3.14M
Added
13
Est. +$2.15M
Reduced
55
Est. −$12.6M
Sold out
5
Est. −$1.93M

Top 5 holdings

Share of this quarter's portfolio value

  1. MSFTMicrosoft Corp
    8.8%$84.8MHistory
  2. BRK.BBerkshire Hathaway Inc
    7.1%$68.4MHistory
  3. GLWCorning Inc
    6.1%$58.5MHistory
  4. GOOGLAlphabet Inc.
    5.6%$54.1MHistory
  5. GOOGAlphabet Inc.
    4.0%$38.7MHistory

Share of portfolio

Top 5 holdings and the other 128 positions, by share of portfolio value

  1. MSFT8.8%
  2. BRK.B7.1%
  3. GLW6.1%
  4. GOOGL5.6%
  5. GOOG4.0%
  6. Other 128 positions68.3%

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Tr464288414
    +$828.7KNew
  2. TPBTurning Point Brands, Inc.
    +$508.9KAddedHistory
  3. FLEXFlex Ltd.
    +$324.1KNewHistory
  4. CLARClarus Corp
    +$299.0KAddedHistory
  5. IAUiShares Gold Trust
    +$279.4KNewHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. LSTRLandstar System Inc
    +0.22 pp1.2% → 1.4%History
  2. iShares Tr464288414
    +0.09 pp0.0% → 0.1%
  3. Vanguard S&P 500 ETF922908363
    +0.07 pp1.0% → 1.1%
  4. CLARClarus Corp
    +0.05 pp0.4% → 0.4%History
  5. AXPAmerican Express Co
    +0.05 pp2.3% → 2.3%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. GOOGLAlphabet Inc.
    −$2.00MReducedHistory
  2. GOOGAlphabet Inc.
    −$1.19MReducedHistory
  3. PGProcter & Gamble Co
    −$936.6KReducedHistory
  4. BRK.BBerkshire Hathaway Inc
    −$785.6KReducedHistory
  5. FASTFastenal Co
    −$758.9KReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. XOMExxonMobil Holdings Corp
    −0.95 pp3.4% → 2.4%History
  2. MSFTMicrosoft Corp
    −0.83 pp9.6% → 8.8%History
  3. WMTWalmart Inc.
    −0.56 pp3.2% → 2.7%History
  4. METAMeta Platforms, Inc.
    −0.47 pp4.4% → 4.0%History
  5. BRK.BBerkshire Hathaway Inc
    −0.46 pp7.6% → 7.1%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$962.0M
+$87.2M (+10.0%) vs. prior quarter
Positions
133
+6 vs. prior quarter
Top 10 concentration
47.9%
Top 10 as share of value
Turnover
0.6%
Q2 2026, one quarter
Average holding period
20.9 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $962.0M (Q2 2026)

Q1 2021: $621.8MQ2 2021: $667.5MQ3 2021: $665.5MQ4 2021: $712.9MQ1 2022: $689.9MQ2 2022: $589.7MQ3 2022: $554.1MQ4 2022: $609.6MQ1 2023: $653.4MQ2 2023: $692.3MQ3 2023: $666.5MQ4 2023: $723.4MQ1 2024: $788.8MQ2 2024: $787.2MQ3 2024: $837.4MQ4 2024: $826.7MQ1 2025: $813.1MQ2 2025: $874.1MQ3 2025: $902.5MQ4 2025: $926.7MQ1 2026: $874.7MQ2 2026: $962.0M
Q1 2021Q2 2026
13F filings of Parthenon LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 23, 2026133$962.0MMSFTBRK.BGLWvs. Q1 2026SEC
Q1 2026Apr 28, 2026127$874.7MMSFTBRK.BGOOGLvs. Q4 2025SEC
Q4 2025Jan 23, 2026131$926.7MMSFTBRK.BGOOGLvs. Q3 2025SEC
Q3 2025Oct 31, 2025129$902.5MMSFTBRK.BMETAvs. Q2 2025SEC
Q2 2025Jul 29, 2025126$874.1MMSFTBRK.BMETAvs. Q1 2025SEC
Q1 2025May 2, 2025122$813.1MMSFTBRK.BMETAvs. Q4 2024SEC
Q4 2024Feb 3, 2025123$826.7MMSFTBRK.BMETAvs. Q3 2024SEC
Q3 2024Nov 5, 2024125$837.4MMSFTBRK.BMETAvs. Q2 2024SEC
Q2 2024Aug 8, 2024121$787.2MMSFTBRK.BMETAvs. Q1 2024SEC
Q1 2024Apr 30, 2024121$788.8MMSFTBRK.BMETAvs. Q4 2023SEC
Q4 2023Feb 5, 2024117$723.4MMSFTBRK.BPAYXvs. Q3 2023SEC
Q3 2023Oct 30, 2023114$666.5MMSFTBRK.BPAYXvs. Q2 2023SEC
Q2 2023Jul 27, 2023116$692.3MMSFTBRK.BPAYXvs. Q1 2023SEC
Q1 2023May 8, 2023114$653.4MMSFTBRK.BPAYXvs. Q4 2022SEC
Q4 2022Feb 8, 2023110$609.6MMSFTBRK.BPAYXvs. Q3 2022SEC
Q3 2022Nov 1, 2022107$554.1MMSFTBRK.BPAYXvs. Q2 2022SEC
Q2 2022Jul 29, 2022111$589.7MMSFTBRK.BPAYXvs. Q1 2022SEC
Q1 2022May 9, 2022115$689.9MMSFTBRK.BPAYXvs. Q4 2021SEC
Q4 2021Feb 7, 2022118$712.9MMSFTBRK.BPAYXvs. Q3 2021SEC
Q3 2021Oct 28, 2021120$665.5MMSFTBRK.BPAYXvs. Q2 2021SEC
Q2 2021Jul 28, 2021121$667.5MMSFTBRK.BPAYXvs. Q1 2021SEC
Q1 2021Apr 23, 2021116$621.8MMSFTBRK.BPAYX–SEC