Independent Franchise Partners LLP
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 14, 2024), Independent Franchise Partners LLP reported 23 stock positions worth $12.1 billion. Its top holding was RB Global (RBA) at 8.7% of the portfolio, followed by Corteva (CTVA, 6.9%) and Intercontinental Exchange (ICE, 6.7%). Compared with Q4 2023, it sold out of 2, added to 8 and reduced 15. The biggest buy was Johnson & Johnson (JNJ, shares +76%) and the biggest sale an exit from Salesforce (CRM).
- Most Recent 13F
- Q2 2026
- Location
- London, X0
- CIK
- 0001483866
- Portfolio Value
- $12.1B (Q1 2024)
- SEC Filing
- 0001172661-24-002297 ↗ filed May 14, 2024
Holdings Value
Holdings 23 stocks · $12.1B
| RBA RB Global Inc. | 8.66% | 13,750,254 | $1.0B | Reduce -9.6% |
| CTVA Corteva Inc. | 6.88% | 14,423,081 | $831.8M | Add +17.4% |
| ICE Intercontinental Exchange Inc. | 6.73% | 5,922,478 | $813.9M | Reduce -2.4% |
| AON Aon PLC Class A | 6.52% | 2,360,369 | $787.7M | Add +22.1% |
| BMY Bristol-Myers Squibb Co. | 6.30% | 14,044,326 | $761.6M | Reduce -0.1% |
| NWSA News Corp. Class A | 6.24% | 28,817,151 | $754.4M | Reduce -4.1% |
| ORCL Oracle Corp. | 5.71% | 5,493,210 | $690.0M | Reduce -2.3% |
| BKNG Booking Holdings Inc. | 5.67% | 188,808 | $685.0M | Reduce -2.4% |
| PM Philip Morris International | 5.37% | 7,082,566 | $648.9M | Add +21.1% |
| JNJ Johnson & Johnson | 5.30% | 4,050,492 | $640.7M | Add +75.9% |
| Z Zillow Group Inc. Class C | 5.13% | 12,713,884 | $620.2M | Reduce -2.0% |
| TRU Transunion | 5.07% | 7,681,377 | $613.0M | Reduce -2.8% |
| FOXA Fox Corp. Class A | 4.63% | 17,898,504 | $559.7M | Add +1.9% |
| EA Electronic Arts Inc. | 4.59% | 4,182,196 | $554.9M | Reduce -2.6% |
| EBAY eBay Inc. | 4.25% | 9,740,114 | $514.1M | Reduce -2.4% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 3.06% | 2,399,728 | $369.9M | Reduce -2.4% |
| TKO Tko Group Holdings Inc. | 2.67% | 3,733,569 | $322.6M | Add +109.7% |
| NWS News Corp. Class B | 2.52% | 11,272,572 | $305.0M | Reduce -3.5% |
| RVTY Revvity Inc. | 1.63% | 1,881,025 | $197.5M | Reduce -2.3% |
| FOX Fox Corp. Class B | 1.04% | 4,387,583 | $125.6M | Add +23.6% |
| AZPN Aspen Technology Inc. | 0.90% | 511,508 | $109.1M | Add +23.8% |
| ZG Zillow Group Inc. Class A | 0.87% | 2,191,673 | $104.9M | Reduce -2.3% |
| NYT New York Times Co. Class A | 0.26% | 714,585 | $30.9M | Reduce -60.4% |
Portfolio Sells Q4 2023 → Q1 2024
| CRM Salesforce Inc. | Sold out | 0.00% | −4.73 |
| SPGI S&P Global Inc. | Sold out | 0.00% | −2.99 |
| Z Zillow Group Inc. Class C | Reduce -2.0% | 5.13% | −1.25 |
| NYT New York Times Co. Class A | Reduce -60.4% | 0.26% | −0.49 |
| EA Electronic Arts Inc. | Reduce -2.6% | 4.59% | −0.40 |
| ZG Zillow Group Inc. Class A | Reduce -2.3% | 0.87% | −0.21 |
| BKNG Booking Holdings Inc. | Reduce -2.4% | 5.67% | −0.17 |
| RVTY Revvity Inc. | Reduce -2.3% | 1.63% | −0.16 |
| NWSA News Corp. Class A | Reduce -4.1% | 6.24% | −0.03 |
| NWS News Corp. Class B | Reduce -3.5% | 2.52% | −0.03 |
| EL Estee Lauder Companies Class A | Reduce -2.4% | 3.06% | +0.00 |
| RBA RB Global Inc. | Reduce -9.6% | 8.66% | +0.02 |
| ICE Intercontinental Exchange Inc. | Reduce -2.4% | 6.73% | +0.11 |
| BMY Bristol-Myers Squibb Co. | Reduce -0.1% | 6.30% | +0.17 |
| TRU Transunion | Reduce -2.8% | 5.07% | +0.45 |
| EBAY eBay Inc. | Reduce -2.4% | 4.25% | +0.55 |
| ORCL Oracle Corp. | Reduce -2.3% | 5.71% | +0.67 |
Portfolio Buys Q4 2023 → Q1 2024
| JNJ Johnson & Johnson | Add +75.9% | 5.30% | +2.23 |
| CTVA Corteva Inc. | Add +17.4% | 6.88% | +1.87 |
| AON Aon PLC Class A | Add +22.1% | 6.52% | +1.73 |
| TKO Tko Group Holdings Inc. | Add +109.7% | 2.67% | +1.43 |
| PM Philip Morris International | Add +21.1% | 5.37% | +0.69 |
| FOX Fox Corp. Class B | Add +23.6% | 1.04% | +0.20 |
| FOXA Fox Corp. Class A | Add +1.9% | 4.63% | +0.20 |
| AZPN Aspen Technology Inc. | Add +23.8% | 0.90% | +0.13 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 26 | $15.2B | BMY, SOLV, LYV, TRU, KVUE |
| Q1 2026 | 26 | $14.3B | BMY, SOLV, LYV, KVUE, TRU |
| Q4 2025 | 27 | $15.7B | SOLV, BMY, IT, KVUE, EL |
| Q3 2025 | 29 | $15.2B | SOLV, BMY, LYV, NWSA, JNJ |
| Q2 2025 | 25 | $15.0B | ICE, CTVA, BMY, NWSA, LYV |
| Q1 2025 | 25 | $14.0B | ICE, BMY, CTVA, JNJ, EBAY |
| Q4 2024 | 25 | $13.3B | BMY, CTVA, ICE, RBA, Z |
| Q3 2024 | 25 | $11.3B | RBA, ICE, Z, PM, BMY |
| Q2 2024 | 24 | $10.9B | RBA, ICE, ORCL, AON, PM |
| Q1 2024 | 23 | $12.1B | RBA, CTVA, ICE, AON, BMY |