Investment adviser · CRD 107794

PARTHENON LLC

Investment adviser filing (IA)

LOUISVILLE, KY, United States · Form ADV filed Jan 21, 2026

Regulatory AUM
$1.22B
Form ADV · Item 5.F
Client accounts
461
Accounts, not individual clients
Employees
7
Reported in this filing
Advisory professionals
5
Investment advisory functions

Who they report serving

Form ADV · Item 5.D

Client types and their share of reported regulatory assets.

Client typeClientsRegulatory assetsShare of AUM
High-net-worth individuals219$1,073,248,56488.2%
Corporations & businesses9$66,866,8345.5%
Charities10$40,714,6753.3%
Retirement plans4$18,866,5751.5%
Pooled investment vehicles1$17,808,9821.5%
Filing source

Form ADV 2041391 · Jan 21, 2026 · Item 5.D

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Private funds & service providers

1 Private fund

The count excludes feeder funds. Funds in the latest filing appear first, ordered by reported gross assets. Earlier funds retain their last reported values.

FORT NELSON PARTNERS, LPHedge Fund · Last reported Jan 21, 2026$17.8MGross asset value
Fund administrator DMLO LOUISVILLE, Kentucky, United States Investor statements: No (provided to no investors) Related to adviser: No
Auditor CHERRY BEKAERT LOUISVILLE, Kentucky, United States
Custodian MORGAN STANLEY SMITH BARNEY LLC BOWLING GREEN, Kentucky, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

CHERRY BEKAERT
PCAOB 677

MORGAN STANLEY SMITH BARNEY LLC
SEC 8-68191

Fund details & source
Fund ID
805-1386019626
Reported beneficial owners
36
Minimum commitment
$250K
Form D file number
021-1673359

Form ADV 2041391 · Jan 21, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Services & filing details

Most recent filing: Jan 21, 2026. View historical filings

Reported services

Individual portfolio management · Business portfolio management

Compensation

Percentage of assets · Performance-based

Principal office

435 N. WHITTINGTON PARKWAY, SUITE 180
LOUISVILLE, KY, 40222, United States

CRD 107794

Filing source

Form ADV 2041391 · Jan 21, 2026 · Items 1 & 5

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.