Independent Franchise Partners LLP
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 13, 2024), Independent Franchise Partners LLP reported 25 stock positions worth $11.3 billion. Its top holding was RB Global (RBA) at 7.6% of the portfolio, followed by Intercontinental Exchange (ICE, 7.2%) and Zillow Class C (Z, 6.6%). Compared with Q2 2024, it opened 4 new positions, sold out of 3, added to 3 and reduced 18. The biggest buy was a new position in Live Nation Entertainment (LYV) and the biggest sale an exit from Booking (BKNG).
- Most Recent 13F
- Q2 2026
- Location
- London, X0
- CIK
- 0001483866
- Portfolio Value
- $11.3B (Q3 2024)
- SEC Filing
- 0001172661-24-004649 ↗ filed Nov 13, 2024
Holdings Value
Holdings 25 stocks · $11.3B
| RBA RB Global Inc. | 7.61% | 10,721,687 | $863.0M | Reduce -8.9% |
| ICE Intercontinental Exchange Inc. | 7.22% | 5,097,932 | $818.9M | Reduce -9.6% |
| Z Zillow Group Inc. Class C | 6.61% | 11,734,424 | $749.2M | Reduce -2.4% |
| PM Philip Morris International | 6.54% | 6,103,397 | $741.0M | Reduce -8.9% |
| BMY Bristol-Myers Squibb Co. | 6.47% | 14,184,350 | $733.9M | Reduce -2.9% |
| FOXA Fox Corp. Class A | 6.07% | 16,266,915 | $688.6M | Reduce -12.1% |
| JNJ Johnson & Johnson | 6.03% | 4,216,255 | $683.3M | Add +9.2% |
| AON Aon PLC Class A | 6.02% | 1,971,897 | $682.3M | Reduce -18.2% |
| ORCL Oracle Corp. | 5.86% | 3,897,499 | $664.1M | Reduce -27.5% |
| CTVA Corteva Inc. | 5.65% | 10,891,670 | $640.3M | Reduce -2.0% |
| NWSA News Corp. Class A | 5.59% | 23,805,179 | $633.9M | Reduce -2.1% |
| EBAY eBay Inc. | 5.11% | 8,900,799 | $579.5M | Reduce -4.1% |
| EA Electronic Arts Inc. | 5.01% | 3,963,755 | $568.6M | Reduce -2.2% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 4.75% | 5,399,779 | $538.3M | Add +55.8% |
| TKO Tko Group Holdings Inc. | 3.46% | 3,173,720 | $392.6M | Reduce -9.9% |
| NWS News Corp. Class B | 2.22% | 9,021,943 | $252.2M | Reduce -3.0% |
| FOX Fox Corp. Class B | 1.69% | 4,946,512 | $191.9M | Reduce -1.5% |
| TRU Transunion | 1.58% | 1,710,314 | $179.1M | Reduce -49.9% |
| LYV Live Nation Entertainment Inc. | 1.47% | 1,525,776 | $167.1M | New |
| WMG Warner Music Group Corp. Class A | 1.40% | 5,055,271 | $158.2M | Reduce -3.3% |
| AZPN Aspen Technology Inc. | 1.17% | 555,558 | $132.7M | Add +11.3% |
| ZG Zillow Group Inc. Class A | 1.12% | 2,041,799 | $126.4M | Reduce -2.4% |
| KVUE Kenvue Inc. | 0.79% | 3,863,762 | $89.4M | New |
| SOLV Solventum Corp. | 0.48% | 781,882 | $54.5M | New |
| RTO Rentokil Initial PLC-SP ADR | 0.08% | 345,595 | $8.6M | New |
Portfolio Sells Q2 2024 → Q3 2024
| BKNG Booking Holdings Inc. | Sold out | 0.00% | −3.86 |
| ORCL Oracle Corp. | Reduce -27.5% | 5.86% | −1.13 |
| RVTY Revvity Inc. | Sold out | 0.00% | −1.03 |
| TRU Transunion | Reduce -49.9% | 1.58% | −0.75 |
| RBA RB Global Inc. | Reduce -8.9% | 7.61% | −0.66 |
| NWSA News Corp. Class A | Reduce -2.1% | 5.59% | −0.58 |
| AON Aon PLC Class A | Reduce -18.2% | 6.02% | −0.50 |
| NYT New York Times Co. Class A | Sold out | 0.00% | −0.33 |
| NWS News Corp. Class B | Reduce -3.0% | 2.22% | −0.21 |
| EA Electronic Arts Inc. | Reduce -2.2% | 5.01% | −0.18 |
| WMG Warner Music Group Corp. Class A | Reduce -3.3% | 1.40% | −0.08 |
| TKO Tko Group Holdings Inc. | Reduce -9.9% | 3.46% | −0.04 |
| ICE Intercontinental Exchange Inc. | Reduce -9.6% | 7.22% | +0.12 |
| CTVA Corteva Inc. | Reduce -2.0% | 5.65% | +0.13 |
| FOX Fox Corp. Class B | Reduce -1.5% | 1.69% | +0.21 |
| FOXA Fox Corp. Class A | Reduce -12.1% | 6.07% | +0.22 |
| ZG Zillow Group Inc. Class A | Reduce -2.4% | 1.12% | +0.25 |
| PM Philip Morris International | Reduce -8.9% | 6.54% | +0.28 |
| EBAY eBay Inc. | Reduce -4.1% | 5.11% | +0.52 |
| BMY Bristol-Myers Squibb Co. | Reduce -2.9% | 6.47% | +0.89 |
| Z Zillow Group Inc. Class C | Reduce -2.4% | 6.61% | +1.47 |
Portfolio Buys Q2 2024 → Q3 2024
| LYV Live Nation Entertainment Inc. | New | 1.47% | +1.47 |
| EL Estee Lauder Companies Class A | Add +55.8% | 4.75% | +1.35 |
| JNJ Johnson & Johnson | Add +9.2% | 6.03% | +0.83 |
| KVUE Kenvue Inc. | New | 0.79% | +0.79 |
| SOLV Solventum Corp. | New | 0.48% | +0.48 |
| AZPN Aspen Technology Inc. | Add +11.3% | 1.17% | +0.26 |
| RTO Rentokil Initial PLC-SP ADR | New | 0.08% | +0.08 |
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 |