Independent Franchise Partners LLP
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 13, 2024), Independent Franchise Partners LLP reported 24 stock positions worth $10.9 billion. Its top holding was RB Global (RBA) at 8.3% of the portfolio, followed by Intercontinental Exchange (ICE, 7.1%) and Oracle (ORCL, 7.0%). Compared with Q1 2024, it opened 1 new position, added to 5 and reduced 18. The biggest buy was a new position in Warner Music Class A (WMG) and the biggest sale Transunion (TRU, shares −56%).
- Most Recent 13F
- Q2 2026
- Location
- London, X0
- CIK
- 0001483866
- Portfolio Value
- $10.9B (Q2 2024)
- SEC Filing
- 0001172661-24-003328 ↗ filed Aug 13, 2024
Holdings Value
Holdings 24 stocks · $10.9B
| RBA RB Global Inc. | 8.28% | 11,770,067 | $898.8M | Reduce -14.4% |
| ICE Intercontinental Exchange Inc. | 7.11% | 5,637,011 | $771.7M | Reduce -4.8% |
| ORCL Oracle Corp. | 6.99% | 5,374,723 | $758.9M | Reduce -2.2% |
| AON Aon PLC Class A | 6.51% | 2,409,530 | $707.4M | Add +2.1% |
| PM Philip Morris International | 6.25% | 6,702,152 | $679.1M | Reduce -5.4% |
| NWSA News Corp. Class A | 6.17% | 24,306,600 | $670.1M | Reduce -15.7% |
| FOXA Fox Corp. Class A | 5.85% | 18,495,954 | $635.7M | Add +3.3% |
| BMY Bristol-Myers Squibb Co. | 5.58% | 14,600,621 | $606.4M | Add +4.0% |
| CTVA Corteva Inc. | 5.52% | 11,118,124 | $599.7M | Reduce -22.9% |
| EA Electronic Arts Inc. | 5.20% | 4,052,313 | $564.6M | Reduce -3.1% |
| JNJ Johnson & Johnson | 5.20% | 3,862,080 | $564.5M | Reduce -4.7% |
| Z Zillow Group Inc. Class C | 5.14% | 12,022,250 | $557.7M | Reduce -5.4% |
| EBAY eBay Inc. | 4.59% | 9,282,584 | $498.7M | Reduce -4.7% |
| BKNG Booking Holdings Inc. | 3.86% | 105,761 | $419.0M | Reduce -44.0% |
| TKO Tko Group Holdings Inc. | 3.50% | 3,522,742 | $380.4M | Reduce -5.7% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 3.40% | 3,466,048 | $368.8M | Add +44.4% |
| NWS News Corp. Class B | 2.43% | 9,299,164 | $264.0M | Reduce -17.5% |
| TRU Transunion | 2.33% | 3,410,096 | $252.9M | Reduce -55.6% |
| FOX Fox Corp. Class B | 1.48% | 5,023,830 | $160.9M | Add +14.5% |
| WMG Warner Music Group Corp. Class A | 1.47% | 5,225,334 | $160.2M | New |
| RVTY Revvity Inc. | 1.03% | 1,067,353 | $111.9M | Reduce -43.3% |
| AZPN Aspen Technology Inc. | 0.91% | 499,163 | $99.1M | Reduce -2.4% |
| ZG Zillow Group Inc. Class A | 0.87% | 2,091,542 | $94.2M | Reduce -4.6% |
| NYT New York Times Co. Class A | 0.33% | 697,339 | $35.7M | Reduce -2.4% |
Portfolio Sells Q1 2024 → Q2 2024
| TRU Transunion | Reduce -55.6% | 2.33% | −2.74 |
| BKNG Booking Holdings Inc. | Reduce -44.0% | 3.86% | −1.81 |
| CTVA Corteva Inc. | Reduce -22.9% | 5.52% | −1.36 |
| RVTY Revvity Inc. | Reduce -43.3% | 1.03% | −0.60 |
| RBA RB Global Inc. | Reduce -14.4% | 8.28% | −0.39 |
| JNJ Johnson & Johnson | Reduce -4.7% | 5.20% | −0.10 |
| NWS News Corp. Class B | Reduce -17.5% | 2.43% | −0.09 |
| NWSA News Corp. Class A | Reduce -15.7% | 6.17% | −0.07 |
| ZG Zillow Group Inc. Class A | Reduce -4.6% | 0.87% | −0.00 |
| Z Zillow Group Inc. Class C | Reduce -5.4% | 5.14% | +0.01 |
| AZPN Aspen Technology Inc. | Reduce -2.4% | 0.91% | +0.01 |
| NYT New York Times Co. Class A | Reduce -2.4% | 0.33% | +0.07 |
| EBAY eBay Inc. | Reduce -4.7% | 4.59% | +0.34 |
| ICE Intercontinental Exchange Inc. | Reduce -4.8% | 7.11% | +0.37 |
| EA Electronic Arts Inc. | Reduce -3.1% | 5.20% | +0.61 |
| TKO Tko Group Holdings Inc. | Reduce -5.7% | 3.50% | +0.83 |
| PM Philip Morris International | Reduce -5.4% | 6.25% | +0.89 |
| ORCL Oracle Corp. | Reduce -2.2% | 6.99% | +1.28 |
Portfolio Buys Q1 2024 → Q2 2024
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 |