Independent Franchise Partners LLP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Independent Franchise Partners LLP reported 26 stock positions worth $14.3 billion. Its top holding was Bristol-Myers Squibb (BMY) at 9.0% of the portfolio, followed by Solventum (SOLV, 7.2%) and Live Nation Entertainment (LYV, 6.3%). Compared with Q4 2025, it sold out of 1, added to 15 and reduced 11. The biggest buy was Salesforce (CRM, shares +650%) and the biggest sale Corteva (CTVA, shares −89%).
- Most Recent 13F
- Q2 2026
- Location
- London, X0
- CIK
- 0001483866
- Portfolio Value
- $14.3B (Q1 2026)
- SEC Filing
- 0001172661-26-001918 ↗ filed May 14, 2026
Holdings Value
Holdings 26 stocks · $14.3B
| BMY Bristol-Myers Squibb Co. | 9.03% | 21,275,474 | $1.3B | Add +2.1% |
| SOLV Solventum Corp. | 7.19% | 15,733,495 | $1.0B | Add +2.5% |
| LYV Live Nation Entertainment Inc. | 6.26% | 5,864,757 | $894.4M | Add +2.3% |
| KVUE Kenvue Inc. | 5.94% | 49,208,848 | $848.4M | Add +2.2% |
| TRU Transunion | 5.87% | 12,131,944 | $839.4M | Add +32.8% |
| AON Aon PLC Class A | 5.85% | 2,588,002 | $835.4M | Add +22.3% |
| ICE Intercontinental Exchange Inc. | 5.45% | 4,955,192 | $779.4M | Add +2.5% |
| NWSA News Corp. Class A | 5.40% | 30,924,574 | $770.9M | Add +3.3% |
| CRM Salesforce Inc. | 5.27% | 4,035,050 | $753.2M | Add +650.0% |
| IT Gartner Inc. | 5.10% | 4,600,771 | $728.5M | Add +39.1% |
| JNJ Johnson & Johnson | 5.08% | 2,971,436 | $726.3M | Reduce -18.7% |
| ABNB Airbnb Inc. Class A | 4.66% | 5,275,661 | $666.2M | Add +2.5% |
| EBAY eBay Inc. | 4.31% | 6,772,232 | $616.4M | Reduce -12.6% |
| Z Zillow Group Inc. Class C | 3.82% | 13,197,429 | $546.1M | Add +20.5% |
| FOXA Fox Corp. Class A | 3.34% | 8,174,694 | $477.4M | Reduce -16.4% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 3.33% | 6,628,540 | $475.7M | Reduce -15.4% |
| PM Philip Morris International | 2.96% | 2,560,566 | $423.4M | Reduce -33.0% |
| WMG Warner Music Group Corp. Class A | 2.33% | 13,034,254 | $332.9M | Reduce -0.5% |
| FOX Fox Corp. Class B | 1.97% | 5,307,881 | $281.8M | Add +2.6% |
| NWS News Corp. Class B | 1.82% | 9,111,760 | $259.8M | Reduce -0.5% |
| WBD Warner Bros Discovery Inc. | 1.67% | 8,697,730 | $238.8M | Reduce -31.5% |
| ZG Zillow Group Inc. Class A | 0.79% | 2,738,482 | $113.3M | Add +35.3% |
| CTVA Corteva Inc. | 0.70% | 1,188,896 | $99.5M | Reduce -88.7% |
| RYAN Ryan Specialty Holdings Inc. | 0.67% | 2,820,854 | $95.2M | Add +33.4% |
| TKO Tko Group Holdings Inc. | 0.65% | 457,600 | $92.3M | Reduce -5.8% |
| OTIS Otis Worldwide Corp. | 0.54% | 1,002,284 | $77.3M | Reduce -5.8% |
Portfolio Sells Q4 2025 → Q1 2026
| CTVA Corteva Inc. | Reduce -88.7% | 0.70% | −3.78 |
| EL Estee Lauder Companies Class A | Reduce -15.4% | 3.33% | −1.89 |
| FOXA Fox Corp. Class A | Reduce -16.4% | 3.34% | −1.20 |
| PM Philip Morris International | Reduce -33.0% | 2.96% | −0.94 |
| RBA RB Global Inc. | Sold out | 0.00% | −0.75 |
| WBD Warner Bros Discovery Inc. | Reduce -31.5% | 1.67% | −0.66 |
| WMG Warner Music Group Corp. Class A | Reduce -0.5% | 2.33% | −0.22 |
| OTIS Otis Worldwide Corp. | Reduce -5.8% | 0.54% | −0.05 |
| TKO Tko Group Holdings Inc. | Reduce -5.8% | 0.65% | 0.00 |
| EBAY eBay Inc. | Reduce -12.6% | 4.31% | +0.02 |
| NWS News Corp. Class B | Reduce -0.5% | 1.82% | +0.09 |
| JNJ Johnson & Johnson | Reduce -18.7% | 5.08% | +0.27 |
Portfolio Buys Q4 2025 → Q1 2026
| CRM Salesforce Inc. | Add +650.0% | 5.27% | +4.36 |
| BMY Bristol-Myers Squibb Co. | Add +2.1% | 9.03% | +1.89 |
| AON Aon PLC Class A | Add +22.3% | 5.85% | +1.10 |
| LYV Live Nation Entertainment Inc. | Add +2.3% | 6.26% | +1.06 |
| TRU Transunion | Add +32.8% | 5.87% | +0.89 |
| KVUE Kenvue Inc. | Add +2.2% | 5.94% | +0.65 |
| ICE Intercontinental Exchange Inc. | Add +2.5% | 5.45% | +0.48 |
| NWSA News Corp. Class A | Add +3.3% | 5.40% | +0.42 |
| ABNB Airbnb Inc. Class A | Add +2.5% | 4.66% | +0.22 |
| RYAN Ryan Specialty Holdings Inc. | Add +33.4% | 0.67% | −0.03 |
| ZG Zillow Group Inc. Class A | Add +35.3% | 0.79% | −0.09 |
| FOX Fox Corp. Class B | Add +2.6% | 1.97% | −0.16 |
| IT Gartner Inc. | Add +39.1% | 5.10% | −0.21 |
| SOLV Solventum Corp. | Add +2.5% | 7.19% | −0.55 |
| Z Zillow Group Inc. Class C | Add +20.5% | 3.82% | −0.93 |
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 |