Independent Franchise Partners LLP
Net buyer this quarter
$15.2B
26
+$807M
63.7%
Holdings
| Company | Value | % of portfolio | % of company | POSITION CHANGE qoq % | First reported |
|---|---|---|---|---|---|
| Q2 2026 | |||||
 BMY | $1.26B | 8.24% | 1.07% | +2.4% | Q3 2019 |
 SOLV | $1.25B | 8.18% | 9.51% | +2.8% | Q3 2024 |
 LYV | $1.1B | 7.22% | 2.55% | +2.5% | Q3 2024 |
 TRU | $1.01B | 6.61% | 7.29% | +15.2% | Q4 2016 |
 KVUE | $964M | 6.32% | 2.63% | +2.5% | Q3 2024 |
 CRM | $912M | 5.98% | 0.71% | +44.2% | Q1 2022 |
 AON | $878M | 5.76% | 1.24% | +2.3% | Q3 2020 |
 NWSA | $796M | 5.22% | 5.54% | +3.7% | Q2 2017 |
 ABNB | $776M | 5.09% | Not reported | +2.8% | Q3 2025 |
 JNJ | $773M | 5.07% | 0.13% | +2.4% | Q2 2013 |
 IT | $724M | 4.75% | 8.34% | +21.4% | Q3 2025 |
 ICE | $647M | 4.24% | 0.94% | +6.0% | Q2 2021 |
 Z | $514M | 3.37% | Not reported | +23.5% | Q4 2021 |
 EBAY | $508M | 3.33% | 1.02% | -32.9% | Q2 2013 |
 PM | $466M | 3.06% | 0.17% | +0.7% | Q2 2013 |
 FOXA | $438M | 2.87% | 839865800.00% | +2.7% | Q1 2019 |
 EL | $390M | 2.56% | Not reported | -25.5% | Q3 2023 |
 OTIS | $369M | 2.42% | 1.34% | +414.0% | Q3 2025 |
 WMG | $352M | 2.31% | 1215884.38% | -0.3% | Q2 2024 |
| FOX | $257M | 1.68% | Not reported | +3.3% | Q2 2023 |
| NWS | $253M | 1.66% | Not reported | -1.0% | Q2 2017 |
 WBD | $217M | 1.43% | 0.33% | -6.2% | Q1 2025 |
| ZG | $115M | 0.76% | Not reported | +34.1% | Q4 2021 |
 RYAN | $99.9M | 0.66% | 2.41% | -6.2% | Q3 2025 |
 CTVA | $94.4M | 0.62% | 0.17% | -6.2% | Q4 2019 |
 TKO | $86.4M | 0.57% | Not reported | -6.2% | Q3 2023 |
| Q1 2026 | |||||
| BMY | $1.29B | 9.03% | 1.04% | +2.2% | Q3 2019 |
| SOLV | $1.03B | 7.19% | 9.07% | +2.5% | Q3 2024 |
| LYV | $894M | 6.26% | 2.50% | +2.3% | Q3 2024 |
| KVUE | $848M | 5.94% | 2.56% | +2.2% | Q3 2024 |
| TRU | $839M | 5.87% | 6.29% | +32.8% | Q4 2016 |
| AON | $835M | 5.85% | 1.21% | +22.3% | Q3 2020 |
| ICE | $779M | 5.45% | 0.88% | +2.6% | Q2 2021 |
| NWSA | $771M | 5.40% | 5.34% | +3.3% | Q2 2017 |
| CRM | $753M | 5.27% | 0.44% | +650.0% | Q1 2022 |
| IT | $728M | 5.10% | 6.53% | +39.1% | Q3 2025 |
| JNJ | $726M | 5.08% | 0.12% | -18.7% | Q2 2013 |
| ABNB | $666M | 4.66% | Not reported | +2.5% | Q3 2025 |
| EBAY | $616M | 4.31% | 1.52% | -12.6% | Q2 2013 |
| Z | $546M | 3.82% | Not reported | +20.5% | Q4 2021 |
| FOXA | $477M | 3.34% | 817469400.00% | -16.4% | Q1 2019 |
| EL | $476M | 3.33% | Not reported | -15.4% | Q3 2023 |
| PM | $423M | 2.96% | 0.16% | -33.0% | Q2 2013 |
| WMG | $333M | 2.33% | 1219294.11% | -0.5% | Q2 2024 |
| FOX | $282M | 1.97% | Not reported | +2.6% | Q2 2023 |
| NWS | $260M | 1.82% | Not reported | -0.5% | Q2 2017 |
| WBD | $239M | 1.67% | 0.35% | -31.5% | Q1 2025 |
| ZG | $113M | 0.79% | Not reported | +35.3% | Q4 2021 |
| CTVA | $99.5M | 0.70% | 0.18% | -88.7% | Q4 2019 |
| RYAN | $95.2M | 0.67% | 2.57% | +33.4% | Q3 2025 |
| TKO | $92.3M | 0.65% | Not reported | -5.8% | Q3 2023 |
| OTIS | $77.3M | 0.54% | 0.26% | -5.8% | Q3 2025 |
| Q4 2025 | |||||
| SOLV | $1.22B | 7.74% | 8.85% | +19.0% | Q3 2024 |
| BMY | $1.12B | 7.14% | 1.02% | +1.0% | Q3 2019 |
| IT | $835M | 5.31% | 4.59% | +3.5% | Q3 2025 |
| KVUE | $831M | 5.28% | 2.51% | +56.3% | Q3 2024 |
| EL | $821M | 5.22% | Not reported | +1.1% | Q3 2023 |
| LYV | $817M | 5.20% | 2.44% | +3.5% | Q3 2024 |
| TRU | $783M | 4.98% | 4.75% | +99.7% | Q4 2016 |
| ICE | $783M | 4.98% | 0.85% | +1.0% | Q2 2021 |
| NWSA | $782M | 4.97% | 5.17% | +4.0% | Q2 2017 |
| JNJ | $757M | 4.81% | 0.15% | -20.3% | Q2 2013 |
| Z | $747M | 4.75% | Not reported | +0.9% | Q4 2021 |
| AON | $747M | 4.75% | 0.98% | +0.9% | Q3 2020 |
| FOXA | $714M | 4.54% | 977751900.00% | -7.6% | Q1 2019 |
| CTVA | $704M | 4.47% | 1.56% | +1.0% | Q4 2019 |
| ABNB | $698M | 4.44% | Not reported | +23.6% | Q3 2025 |
| EBAY | $675M | 4.29% | 1.73% | +5.2% | Q2 2013 |
| PM | $613M | 3.90% | 0.25% | +1.3% | Q2 2013 |
| WMG | $402M | 2.55% | 1225089.34% | -0.4% | Q2 2024 |
| WBD | $366M | 2.33% | 0.51% | -3.1% | Q1 2025 |
| FOX | $336M | 2.14% | Not reported | +1.2% | Q2 2023 |
| NWS | $271M | 1.73% | Not reported | -0.1% | Q2 2017 |
| CRM | $143M | 0.91% | 0.06% | Not reported | Q1 2022 |
| ZG | $138M | 0.88% | Not reported | +1.1% | Q4 2021 |
 RBA | $118M | 0.75% | 0.62% | -60.7% | Q2 2023 |
| RYAN | $109M | 0.69% | 1.92% | +24.5% | Q3 2025 |
| TKO | $102M | 0.65% | Not reported | -13.7% | Q3 2023 |
| OTIS | $93M | 0.59% | 0.27% | -3.1% | Q3 2025 |
| Q3 2025 | |||||
| SOLV | $942M | 6.21% | 7.44% | +27.2% | Q3 2024 |
| BMY | $930M | 6.13% | 1.01% | -1.7% | Q3 2019 |
| LYV | $905M | 5.97% | 2.36% | -1.8% | Q3 2024 |
| NWSA | $884M | 5.83% | 4.97% | -1.3% | Q2 2017 |
| JNJ | $851M | 5.61% | 0.19% | -12.5% | Q2 2013 |
| IT | $840M | 5.54% | 4.22% | New | Q3 2025 |
| Z | $837M | 5.52% | Not reported | -1.6% | Q4 2021 |
| ICE | $806M | 5.31% | 0.84% | -21.7% | Q2 2021 |
| AON | $748M | 4.93% | 0.97% | +41.6% | Q3 2020 |
| CTVA | $703M | 4.63% | 1.53% | -22.5% | Q4 2019 |
| EL | $683M | 4.50% | Not reported | -1.8% | Q3 2023 |
| EBAY | $670M | 4.41% | 1.62% | -9.2% | Q2 2013 |
| FOXA | $667M | 4.40% | 1057611200.00% | -1.5% | Q1 2019 |
| PM | $612M | 4.04% | 0.24% | -1.0% | Q2 2013 |
| EA | $551M | 3.63% | Not reported | -20.0% | Q1 2019 |
| ABNB | $506M | 3.33% | Not reported | New | Q3 2025 |
| KVUE | $500M | 3.30% | 1.61% | -1.5% | Q3 2024 |
| WMG | $448M | 2.95% | 1230438.17% | -1.0% | Q2 2024 |
| TRU | $383M | 2.53% | 2.36% | -1.5% | Q4 2016 |
| RBA | $318M | 2.09% | 1.58% | -48.6% | Q2 2023 |
| NWS | $317M | 2.09% | Not reported | -2.7% | Q2 2017 |
| FOX | $293M | 1.93% | Not reported | -1.8% | Q2 2023 |
| WBD | $256M | 1.69% | 0.53% | +0.5% | Q1 2025 |
| ZG | $149M | 0.98% | Not reported | -1.8% | Q4 2021 |
| TKO | $114M | 0.75% | Not reported | -82.1% | Q3 2023 |
| OTIS | $100M | 0.66% | 0.28% | New | Q3 2025 |
| RYAN | $95.8M | 0.63% | 1.55% | New | Q3 2025 |
 ORCL | $42.5M | 0.28% | 0.01% | -95.8% | Q1 2015 |
 RTO | $19.7M | 0.13% | 0.03% | +662.2% | Q3 2024 |