Independent Franchise Partners LLP
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Independent Franchise Partners LLP reported 25 stock positions worth $13.3 billion. Its top holding was Bristol-Myers Squibb (BMY) at 7.3% of the portfolio, followed by Corteva (CTVA, 7.1%) and Intercontinental Exchange (ICE, 6.9%). Compared with Q3 2024, it added to 17 and reduced 8. The biggest buy was Live Nation Entertainment (LYV, shares +208%) and the biggest sale RB Global (RBA, shares −10%).
- Most Recent 13F
- Q2 2026
- Location
- London, X0
- CIK
- 0001483866
- Portfolio Value
- $13.3B (Q4 2024)
- SEC Filing
- 0001172661-25-000776 ↗ filed Feb 13, 2025
Holdings Value
Holdings 25 stocks · $13.3B
| BMY Bristol-Myers Squibb Co. | 7.27% | 17,129,229 | $968.8M | Add +20.8% |
| CTVA Corteva Inc. | 7.05% | 16,496,508 | $939.6M | Add +51.5% |
| ICE Intercontinental Exchange Inc. | 6.89% | 6,160,836 | $918.0M | Add +20.9% |
| RBA RB Global Inc. | 6.54% | 9,663,962 | $871.8M | Reduce -9.9% |
| Z Zillow Group Inc. Class C | 6.05% | 10,882,613 | $805.9M | Reduce -7.3% |
| PM Philip Morris International | 6.00% | 6,643,831 | $799.6M | Add +8.8% |
| FOXA Fox Corp. Class A | 5.90% | 16,177,409 | $785.9M | Reduce -0.6% |
| JNJ Johnson & Johnson | 5.64% | 5,194,471 | $751.2M | Add +23.2% |
| NWSA News Corp. Class A | 5.50% | 26,617,259 | $733.0M | Add +11.8% |
| AON Aon PLC Class A | 5.44% | 2,016,972 | $724.4M | Add +2.3% |
| EBAY eBay Inc. | 5.20% | 11,178,638 | $692.5M | Add +25.6% |
| ORCL Oracle Corp. | 5.18% | 4,138,455 | $689.6M | Add +6.2% |
| LYV Live Nation Entertainment Inc. | 4.56% | 4,693,986 | $607.9M | Add +207.7% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 4.42% | 7,858,158 | $589.2M | Add +45.5% |
| EA Electronic Arts Inc. | 4.24% | 3,856,935 | $564.3M | Reduce -2.7% |
| TKO Tko Group Holdings Inc. | 3.64% | 3,409,140 | $484.5M | Add +7.4% |
| NWS News Corp. Class B | 2.20% | 9,649,717 | $293.6M | Add +7.0% |
| FOX Fox Corp. Class B | 1.96% | 5,706,386 | $261.0M | Add +15.4% |
| TRU Transunion | 1.45% | 2,086,050 | $193.4M | Add +22.0% |
| WMG Warner Music Group Corp. Class A | 1.37% | 5,895,025 | $182.7M | Add +16.6% |
| ZG Zillow Group Inc. Class A | 1.08% | 2,024,353 | $143.4M | Reduce -0.8% |
| AZPN Aspen Technology Inc. | 0.97% | 520,184 | $129.9M | Reduce -6.4% |
| SOLV Solventum Corp. | 0.80% | 1,603,154 | $105.9M | Add +105.0% |
| KVUE Kenvue Inc. | 0.58% | 3,617,749 | $77.2M | Reduce -6.4% |
| RTO Rentokil Initial PLC-SP ADR | 0.06% | 299,149 | $7.6M | Reduce -13.4% |
Portfolio Sells Q3 2024 → Q4 2024
| RBA RB Global Inc. | Reduce -9.9% | 6.54% | −1.07 |
| EA Electronic Arts Inc. | Reduce -2.7% | 4.24% | −0.78 |
| Z Zillow Group Inc. Class C | Reduce -7.3% | 6.05% | −0.56 |
| KVUE Kenvue Inc. | Reduce -6.4% | 0.58% | −0.21 |
| AZPN Aspen Technology Inc. | Reduce -6.4% | 0.97% | −0.20 |
| FOXA Fox Corp. Class A | Reduce -0.6% | 5.90% | −0.17 |
| ZG Zillow Group Inc. Class A | Reduce -0.8% | 1.08% | −0.04 |
| RTO Rentokil Initial PLC-SP ADR | Reduce -13.4% | 0.06% | −0.02 |
Portfolio Buys Q3 2024 → Q4 2024
| LYV Live Nation Entertainment Inc. | Add +207.7% | 4.56% | +3.09 |
| CTVA Corteva Inc. | Add +51.5% | 7.05% | +1.41 |
| BMY Bristol-Myers Squibb Co. | Add +20.8% | 7.27% | +0.80 |
| SOLV Solventum Corp. | Add +105.0% | 0.80% | +0.31 |
| FOX Fox Corp. Class B | Add +15.4% | 1.96% | +0.27 |
| TKO Tko Group Holdings Inc. | Add +7.4% | 3.64% | +0.17 |
| EBAY eBay Inc. | Add +25.6% | 5.20% | +0.09 |
| NWS News Corp. Class B | Add +7.0% | 2.20% | −0.02 |
| WMG Warner Music Group Corp. Class A | Add +16.6% | 1.37% | −0.02 |
| NWSA News Corp. Class A | Add +11.8% | 5.50% | −0.09 |
| TRU Transunion | Add +22.0% | 1.45% | −0.13 |
| EL Estee Lauder Companies Class A | Add +45.5% | 4.42% | −0.32 |
| ICE Intercontinental Exchange Inc. | Add +20.9% | 6.89% | −0.33 |
| JNJ Johnson & Johnson | Add +23.2% | 5.64% | −0.39 |
| PM Philip Morris International | Add +8.8% | 6.00% | −0.53 |
| AON Aon PLC Class A | Add +2.3% | 5.44% | −0.58 |
| ORCL Oracle Corp. | Add +6.2% | 5.18% | −0.68 |
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 |