Independent Franchise Partners LLP

CIK

1483866

Location

London, X0

Portfolio Value

Large $13,202,087,665

Diversification

Diversified

Filing Date

Global Rank

#253 / 8,232 ▲ 96

Top Industry

Entertainment 21.3%

3Y Alpha vs SPY

-2.3%

Period ended 2 months ago

Filed May 14, 2026 · 31d

24 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+65.9%

SPY

+76.3%

Annualised alpha

-2.4%

Max drawdown

−13.6%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

23 positions · as of Mar 31, 2026 · Δ vs Sep 30, 2025

Top Position

9.8%

+2.9 pts

Top 5

37.1%

+4.2 pts

Top 10

66.4%

+6.0 pts

HHI

582

Diversified+72

Portfolio Trend

24 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Healthcare	23.1%	$3,044,092,536	3
Communication Services	22.1%	$2,920,141,169	7
Financial Services	19.3%	$2,549,292,700	4
Consumer Defensive	13.2%	$1,747,454,836	3
Technology	11.2%	$1,481,708,863	2
Consumer Cyclical	9.7%	$1,282,619,027	2
Basic Materials	0.8%	$99,522,484	1
Industrials	0.6%	$77,256,050	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Sep 30, 2025

Added To

Positions the filer increased

12 positions

Ticker	Company	Δ Shares	Shares	Value
KVUE	Kenvue Inc.	+18,406,157	49,208,848	$848,360,539
TRU	TransUnion	+7,556,660	12,131,944	$839,409,205
SOLV	Solventum Corp	+2,834,255	15,733,495	$1,027,397,223
NWSA	News Corp	+2,128,217	30,924,574	$770,949,629
IT	Gartner Inc	+1,404,644	4,600,771	$728,486,080
RYAN	Ryan Specialty Holdings, Inc.	+1,121,101	2,820,854	$95,175,613
ABNB	Airbnb, Inc.	+1,111,013	5,275,661	$666,210,471
ZG	Zillow Group, Inc.	+735,788	2,738,482	$113,345,769
BMY	Bristol Myers Squibb Co	+652,123	21,275,474	$1,290,357,498
AON	Aon plc	+491,516	2,588,002	$835,355,285
LYV	Live Nation Entertainment, Inc.	+324,143	5,864,757	$894,434,090
ICE	Intercontinental Exchange, Inc.	+173,267	4,955,192	$779,352,597
No positions match the current search.

Trimmed

Positions the filer reduced

10 positions

Ticker	Company	Δ Shares	Shares	Value
CTVA	Corteva, Inc.	−9,199,058	1,188,896	$99,522,484
WBD	Warner Bros. Discovery, Inc.	−4,409,402	8,697,730	$238,839,665
FOXA	Fox Corp	−2,401,418	8,174,694	$477,402,129
JNJ	Johnson & Johnson	−1,617,454	2,971,436	$726,337,815
PM	Philip Morris International Inc.	−1,214,946	2,560,566	$423,363,982
EL	Estee Lauder Companies Inc	−1,124,852	6,628,540	$475,730,315
EBAY	Ebay Inc	−591,375	6,772,232	$616,408,556
WMG	Warner Music Group Corp.	−119,130	13,034,254	$332,894,847
TKO	TKO Group Holdings, Inc.	−105,516	457,600	$92,275,040
OTIS	Otis Worldwide Corp	−96,212	1,002,284	$77,256,050
No positions match the current search.

New Positions

Positions the filer opened this quarter

1 positions

Ticker	Company	Shares	Value	Open
CRM	Salesforce, Inc.	4,035,050	$753,222,783
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
EA	Electronic Arts Inc.	2,733,751	$551,397,576
RBA	Rb Global Inc.	2,931,316	$317,637,401
ORCL	Oracle Corp	151,033	$42,476,520
RTO	Rentokil Initial PLC /Fi	778,628	$19,660,357
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

23 positions · $13,202,087,665 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Financial Services Healthcare Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
BMY	Bristol Myers Squibb Co Healthcare	Added	21,275,474	+652,123	$1,290,357,498	+38.7%	9.77%
SOLV	Solventum Corp Healthcare	Added	15,733,495	+2,834,255	$1,027,397,223	+9.1%	7.78%
LYV	Live Nation Entertainment, Inc. Communication Services	Added	5,864,757	+324,143	$894,434,090	−1.2%	6.77%
KVUE	Kenvue Inc. Consumer Defensive	Added	49,208,848	+18,406,157	$848,360,539	+69.7%	6.43%
TRU	TransUnion Financial Services	Added	12,131,944	+7,556,660	$839,409,205	+119.0%	6.36%
AON	Aon plc Financial Services	Added	2,588,002	+491,516	$835,355,285	+11.7%	6.33%
ICE	Intercontinental Exchange, Inc. Financial Services	Added	4,955,192	+173,267	$779,352,597	−3.3%	5.90%
NWSA	News Corp Communication Services	Reduced	30,924,574	-26,668,140	$770,949,629	−56.4%	5.84%
CRM	Salesforce, Inc. Technology	NEW	4,035,050	NEW	$753,222,783	NEW	5.71%
IT	Gartner Inc Technology	Added	4,600,771	+1,404,644	$728,486,080	−13.3%	5.52%
JNJ	Johnson & Johnson Healthcare	Reduced	2,971,436	-1,617,454	$726,337,815	−14.6%	5.50%
ABNB	Airbnb, Inc. Consumer Cyclical	Added	5,275,661	+1,111,013	$666,210,471	+31.7%	5.05%
EBAY	Ebay Inc Consumer Cyclical	Reduced	6,772,232	-591,375	$616,408,556	−8.0%	4.67%
FOXA	Fox Corp Communication Services	Reduced	8,174,694	-2,401,418	$477,402,129	−28.4%	3.62%
EL	Estee Lauder Companies Inc Consumer Defensive	Reduced	6,628,540	-1,124,852	$475,730,315	−30.4%	3.60%
PM	Philip Morris International Inc. Consumer Defensive	Reduced	2,560,566	-1,214,946	$423,363,982	−30.9%	3.21%
WMG	Warner Music Group Corp. Communication Services	Reduced	13,034,254	-119,130	$332,894,847	−25.7%	2.52%
WBD	Warner Bros. Discovery, Inc. Communication Services	Reduced	8,697,730	-4,409,402	$238,839,665	−6.7%	1.81%
ZG	Zillow Group, Inc. Communication Services	Added	2,738,482	+735,788	$113,345,769	−24.0%	0.86%
CTVA	Corteva, Inc. Basic Materials	Reduced	1,188,896	-9,199,058	$99,522,484	−85.8%	0.75%
RYAN	Ryan Specialty Holdings, Inc. Financial Services	Added	2,820,854	+1,121,101	$95,175,613	−0.6%	0.72%
TKO	TKO Group Holdings, Inc. Communication Services	Reduced	457,600	-105,516	$92,275,040	−18.9%	0.70%
OTIS	Otis Worldwide Corp Industrials	Reduced	1,002,284	-96,212	$77,256,050	−23.1%	0.59%