# Parthenon LLC

> Parthenon LLC is an SEC-registered investment advisory firm in Louisville, KY, registered since 1999, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated January 21, 2026.

- CRD: 107794
- Filed as: PARTHENON LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Louisville, KY
- Filing period: October 2026
- Form ADV filing dated: January 21, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/107794
- AdvisorCensus page: https://advisorcensus.com/firm/parthenon-llc-louisville-ky-107794

## Quick answers

**How is Parthenon LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Parthenon LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**Where is Parthenon LLC located?**
Parthenon LLC's principal office is in Louisville, KY, according to its Form ADV.

**Is Parthenon LLC registered with the SEC or a state?**
Parthenon LLC is an SEC-registered investment advisory firm, registered since 1999. Status as filed: Approved. CRD 107794.

**How much does Parthenon LLC manage?**
Parthenon LLC reports $1,217,505,630 in regulatory assets under management in its Form ADV filing dated January 21, 2026 (99% discretionary).

**How have Parthenon LLC's assets and staff changed since 2021?**
In the Form ADV data for Parthenon LLC: Regulatory assets under management: $858,156,910 in the October 2021 data and $1,217,505,630 in the October 2026 data, up 42%. Total employees: 7 in October 2021 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Parthenon LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (219); charitable organizations (10); corporations or other businesses not listed above (9).

**Which custodians does Parthenon LLC use?**
Parthenon LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Parthenon LLC report any disciplinary disclosures?**
Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/107794

**Does Parthenon LLC state an account minimum?**
Its Form ADV Part 2A brochure dated January 21, 2026 says: "Our minimum account size is $1 million, however we reserve the right to accept a lesser amount ."

**What changed in Parthenon LLC's recent Form ADV filings?**
In the February 2026 filing data: Item 11 disclosure answers changed: 1 yes answer, previously 0 (now yes: 11.D(2)).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated January 21, 2026)

- Account minimum: $1,000,000

> Our minimum account size is $1 million, however we reserve the right to accept a lesser amount .

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $1,217,505,630
- Discretionary: $1,201,579,178
- Non-discretionary: $15,926,452

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| High net worth individuals | 219 | $1,073,248,564 |
| Pooled investment vehicles (other than investment companies and business development companies) | 1 | $17,808,982 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 4 | $18,866,575 |
| Charitable organizations | 10 | $40,714,675 |
| Corporations or other businesses not listed above | 9 | $66,866,834 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Other

### Firm details
- Registered since: 1999 (27 years)
- Employees: 7 total, 5 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: IN, KY, OH, TX
- Disclosures (Item 11): Reports 1 disclosure item on Form ADV Item 11.

### Item 11 questions answered yes
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/107794

### Websites listed on Form ADV (Item 1.I)
- parthenonllc.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $858,156,910 | 7 | February 10, 2021 |
| October 2022 | $1,003,207,090 | 7 | August 24, 2022 |
| October 2023 | $859,633,434 | 7 | January 26, 2023 |
| October 2024 | $993,899,255 | 7 | August 20, 2024 |
| October 2025 | $1,120,457,850 | 7 | January 24, 2025 |
| October 2026 | $1,217,505,630 | 7 | January 21, 2026 |

Regulatory assets under management: $858,156,910 in the October 2021 data and $1,217,505,630 in the October 2026 data, up 42%.
Total employees: 7 in October 2021 and 7 in October 2026.

## Changes in the filing (last 12 months)

### February 2026
- Item 11 disclosure answers changed: 1 yes answer, previously 0 (now yes: 11.D(2)).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Parthenon LLC (CRD 107794): Form ADV filing data as of October 2026.