Q2 2026 13F · SEC CIK 1483866

Independent Franchise Partners LLP

Hedge fundFiled 2026-08-13 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $15.2B
Reported positions: 26
Top holdings a year, 3 yrs: +18.3%
Assets under management: $23.8B

Independent Franchise Partners LLP is a hedge fund that reported 26 positions worth $15.2B in its Q2 2026 13F, filed 2026-08-13. Its largest holdings were Bristol-Myers Squibb Co (BMY, 8.2%), Solventum Corporation Common S (SOLV, 8.2%), Live Nation Entertainment in (LYV, 7.2%). A portfolio copying its top holdings returned 18.3% a year over the last 3 years, against 20.4% for the S&P 500.

Independent Franchise Partners LLP holdings all 26 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Independent Franchise Partners LLP 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
BMYBristol-Myers Squibb Co	8.2%	9.0%	21,792,841	+2.4%	$1.3B
SOLVSolventum Corporation Common S	8.2%	7.2%	16,170,038	+2.8%	$1.2B
LYVLive Nation Entertainment in	7.2%	6.3%	6,013,439	+2.5%	$1.1B
TRUTransunion	6.6%	5.9%	13,976,652	+15.2%	$1.0B
KVUEKenvue Inc	6.3%	5.9%	50,427,994	+2.5%	$963.7M
CRMSalesforce Inc	6.0%	5.3%	5,818,837	+44.2%	$911.6M
AONAon PLC	5.8%	5.8%	2,646,943	+2.3%	$878.0M
NWSANews Corp New	5.2%	5.4%	32,074,535	+3.7%	$796.4M
ABNBAirbnb Inc	5.1%	4.7%	5,423,764	+2.8%	$776.1M
JNJJohnson & Johnson	5.1%	5.1%	3,043,186	+2.4%	$772.9M
ITGartner Inc	4.7%	5.1%	5,582,962	+21.3%	$723.7M
ICEIntercontinental Exchange Inc	4.2%	5.5%	5,253,130	+6.0%	$646.7M
ZZillow Group Inc	3.4%	3.8%	16,300,754	+23.5%	$513.8M
EBAYEbay Inc.	3.3%	4.3%	4,546,653	-32.9%	$508.1M
PMPhilip Morris Intl Inc	3.1%	3.0%	2,578,328	+0.7%	$466.4M
FOXAFox Corp - Class A	2.9%	3.3%	8,398,658	+2.7%	$438.1M
ELLauder Estee Cos Inc	2.6%	3.3%	4,941,737	-25.4%	$390.2M
OTISOtis Worldwide Corp	2.4%	0.5%	5,152,104	+414.0%	$368.9M
WMGWarner Music Group Corp Cl A	2.3%	2.3%	12,997,804	-0.3%	$351.9M
FOXFox Corp	1.7%	2.0%	5,482,675	+3.3%	$256.8M
NWSNews Corp New	1.7%	1.8%	9,023,857	-1.0%	$253.2M
WBDWarner Bros Discovery Inc	1.4%	1.7%	8,157,933	-6.2%	$217.5M
ZGZillow Group Inc	0.8%	0.8%	3,672,937	+34.1%	$115.2M
RYANRyan Specialty Holdings Inc	0.7%	0.7%	2,645,789	-6.2%	$99.9M
CTVACorteva Inc	0.6%	0.7%	1,115,112	-6.2%	$94.4M
TKOTko Group Holdings Inc	0.6%	0.6%	429,092	-6.2%	$86.4M

What Independent Franchise Partners LLP bought and sold in Q2 2026, against Q1 2026.

New positions

No new positions among the largest holdings.

Added to

OTIS Otis Worldwide Corp+414.0% shares
CRM Salesforce Inc+44.2% shares
ZG Zillow Group Inc+34.1% shares
Z Zillow Group Inc+23.5% shares
IT Gartner Inc+21.3% shares
TRU Transunion+15.2% shares
ICE Intercontinental Exchange Inc+6.0% shares

Reduced

EBAY Ebay Inc.-32.9% shares
EL Lauder Estee Cos Inc-25.4% shares
TKO Tko Group Holdings Inc-6.2% shares
WBD Warner Bros Discovery Inc-6.2% shares
RYAN Ryan Specialty Holdings Inc-6.2% shares
CTVA Corteva Inc-6.2% shares

Sold out

Nothing sold out.

Share counts compared with the Q1 2026 13F; a split also changes share counts.

How the holdings did against the S&P 500.

1 year: +4.6% /yr; S&P 500 +20.1%
3 years: +18.3% /yr; S&P 500 +20.4%
5 years: +10.7% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$15.2B	26
Q1 2026	$14.3B	26
Q4 2025	$15.7B	27
Q3 2025	$15.2B	29
Q2 2025	$15.0B	25
Q1 2025	$14.0B	25
Q4 2024	$13.3B	25
Q3 2024	$11.3B	25
Q2 2024	$10.9B	24
Q1 2024	$12.1B	23
Q4 2023	$11.8B	25
Q3 2023	$11.5B	24

Questions about Independent Franchise Partners LLP's portfolio

What stocks does Independent Franchise Partners LLP own?

Independent Franchise Partners LLP's latest 13F, for Q2 2026 and filed Aug 13, 2026, lists 26 positions worth $15.2B. The largest are Bristol-Myers Squibb Co (BMY) at 8.2%, Solventum Corporation Common S (SOLV) at 8.2%, Live Nation Entertainment in (LYV) at 7.2%, Transunion (TRU) at 6.6% and Kenvue Inc (KVUE) at 6.3%.

What did Independent Franchise Partners LLP buy last quarter?

In Q2 2026, Independent Franchise Partners LLP added Otis Worldwide Corp (OTIS) (+414.0% shares), Salesforce Inc (CRM) (+44.2% shares) and Zillow Group Inc (ZG) (+34.1% shares), compared with its Q1 2026 filing.

What did Independent Franchise Partners LLP sell last quarter?

In Q2 2026, Independent Franchise Partners LLP Ebay Inc. (EBAY) (-32.9% shares), Lauder Estee Cos Inc (EL) (-25.4% shares) and Tko Group Holdings Inc (TKO) (-6.2% shares), compared with its Q1 2026 filing.

How has Independent Franchise Partners LLP's portfolio performed?

A portfolio copying Independent Franchise Partners LLP's 20 largest 13F holdings each quarter, from the day each filing was public, returned +18.3% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +4.6% against +20.1%. Over 5 years: +10.7% a year against +11.6%.

When is Independent Franchise Partners LLP's next 13F filing due?

13F filings are due 45 days after each quarter ends. Independent Franchise Partners LLP's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Independent Franchise Partners LLP manage?

Independent Franchise Partners LLP reported $23.8B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $15.2B.