INDEPENDENT FRANCHISE PARTNERS LLP

Filed: 5/12/2023ACC: 0001172661-23-002037

📋 What this filing means

INDEPENDENT FRANCHISE PARTNERS LLP filed this quarterly 13F‑HR report disclosing 23 equity positions with a total reported market value of $11.11B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

Positions

$11.11B

Total AUM (reported)

168M

Total Shares

Allocation by class

COM$8.12B73.1%

CL A$812.87M7.3%

CL A COM$645.51M5.8%

SHS CL A$642.16M5.8%

CL C CAP STK$608.15M5.5%

CL B$220.27M2.0%

CAP STK CL A$59.99M0.5%

Portfolio Concentration

Top 3$2.44B21.9%

4–10$4.49B40.4%

11–25$4.18B37.6%

Top 3 weight

21.9%

Top 10 weight

62.4%

Voting Authority Distribution

Total shares with voting rights: 168M

Sole

Full voting authority

152.33M

% of voting shares90.7%

Shared

Joint voting authority

2.31M

% of voting shares1.4%

None

No voting authority

13.36M

% of voting shares8.0%

Investment Discretion (by position count)

Sole0

Shared0

Other23

Dominant voting typeSole · 90.7% of voting shares

Institutional Holdings23

Rows:

RITCHIE BROS AUCTIONEERS

OTR

COM

Shares14.85M

TypeSH

Market value$835.97M

7.52%

Sole

13.47M

Shared

208.07K

None

1.17M

BRISTOL-MYERS SQUIBB CO

OTR

COM

Shares11.78M

TypeSH

Market value$816.77M

7.35%

Sole

10.69M

Shared

171.41K

None

924.35K

SALESFORCE INC

OTR

COM

Shares3.93M

TypeSH

Market value$785.79M

7.07%

Sole

3.57M

Shared

56.77K

None

310.06K

ORACLE CORP

OTR

COM

Shares7.99M

TypeSH

Market value$742.61M

6.68%

Sole

7.26M

Shared

123.09K

None

610.22K

BOOKING HOLDINGS INC

OTR

COM

Shares264.14K

TypeSH

Market value$700.62M

6.31%

Sole

239.56K

Shared

3.56K

None

21.03K

FOX CORP

OTR

CL A COM

Shares18.96M

TypeSH

Market value$645.51M

5.81%

Sole

17.19M

Shared

278.55K

None

1.48M

AON PLC

OTR

SHS CL A

Shares2.04M

TypeSH

Market value$642.16M

5.78%

Sole

1.85M

Shared

30.95K

None

157.34K

ZILLOW GROUP INC

OTR

CL C CAP STK

Shares13.68M

TypeSH

Market value$608.15M

5.47%

Sole

12.40M

Shared

186.44K

None

1.09M

PHILIP MORRIS INTL INC

OTR

COM

Shares6.22M

TypeSH

Market value$604.81M

5.44%

Sole

5.57M

Shared

0.00

None

649.15K

ELECTRONIC ARTS INC

OTR

COM

Shares4.53M

TypeSH

Market value$545.31M

4.91%

Sole

4.11M

Shared

66.94K

None

352.17K

INTERCONTINENTAL EXCHANGE IN

OTR

COM

Shares5.05M

TypeSH

Market value$527.17M

4.74%

Sole

4.58M

Shared

72.41K

None

398.15K

NEWS CORP NEW

OTR

CL A

Shares29.76M

TypeSH

Market value$514.04M

4.63%

Sole

26.75M

Shared

449.42K

None

2.57M

CORTEVA INC

OTR

COM

Shares8.18M

TypeSH

Market value$493.12M

4.44%

Sole

7.41M

Shared

115.83K

None

648.01K

EBAY INC.

OTR

COM

Shares10.52M

TypeSH

Market value$466.91M

4.20%

Sole

9.55M

Shared

156.50K

None

819.62K

TRANSUNION

OTR

COM

Shares6.86M

TypeSH

Market value$426.07M

3.83%

Sole

6.22M

Shared

97.38K

None

542.57K

MICROSOFT CORP

OTR

COM

Shares1.45M

TypeSH

Market value$417.99M

3.76%

Sole

1.32M

Shared

23.55K

None

108.48K

S&P GLOBAL INC

OTR

COM

Shares1.11M

TypeSH

Market value$382.30M

3.44%

Sole

1.01M

Shared

16.74K

None

85.56K

JOHNSON & JOHNSON

OTR

COM

Shares2.43M

TypeSH

Market value$376.53M

3.39%

Sole

2.20M

Shared

34.30K

None

192.78K

NEWS CORP NEW

OTR

CL B

Shares12.64M

TypeSH

Market value$220.27M

1.98%

Sole

11.74M

Shared

185.56K

None

716.41K

WORLD WRESTLING ENTMT INC

OTR

CL A

Shares1.64M

TypeSH

Market value$150.00M

1.35%

Sole

1.49M

Shared

0.00

None

153.70K

ZILLOW GROUP INC

OTR

CL A

Shares2.37M

TypeSH

Market value$103.49M

0.93%

Sole

2.15M

Shared

33.53K

None

188.38K

ALPHABET INC

OTR

CAP STK CL A

Shares578.29K

TypeSH

Market value$59.99M

0.54%

Sole

524.21K

Shared

0.00

None

54.08K

NEW YORK TIMES CO

OTR

CL A

Shares1.17M

TypeSH

Market value$45.34M

0.41%

Sole

1.06M

Shared

0.00

None

109.07K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	Shared	None
RITCHIE BROS AUCTIONEERSOTR	COM	14.85M	SH	$835.97M 7.52%	13.47M	208.07K	1.17M
BRISTOL-MYERS SQUIBB COOTR	COM	11.78M	SH	$816.77M 7.35%	10.69M	171.41K	924.35K
SALESFORCE INCOTR	COM	3.93M	SH	$785.79M 7.07%	3.57M	56.77K	310.06K
ORACLE CORPOTR	COM	7.99M	SH	$742.61M 6.68%	7.26M	123.09K	610.22K
BOOKING HOLDINGS INCOTR	COM	264.14K	SH	$700.62M 6.31%	239.56K	3.56K	21.03K
FOX CORPOTR	CL A COM	18.96M	SH	$645.51M 5.81%	17.19M	278.55K	1.48M
AON PLCOTR	SHS CL A	2.04M	SH	$642.16M 5.78%	1.85M	30.95K	157.34K
ZILLOW GROUP INCOTR	CL C CAP STK	13.68M	SH	$608.15M 5.47%	12.40M	186.44K	1.09M
PHILIP MORRIS INTL INCOTR	COM	6.22M	SH	$604.81M 5.44%	5.57M	0.00	649.15K
ELECTRONIC ARTS INCOTR	COM	4.53M	SH	$545.31M 4.91%	4.11M	66.94K	352.17K
INTERCONTINENTAL EXCHANGE INOTR	COM	5.05M	SH	$527.17M 4.74%	4.58M	72.41K	398.15K
NEWS CORP NEWOTR	CL A	29.76M	SH	$514.04M 4.63%	26.75M	449.42K	2.57M
CORTEVA INCOTR	COM	8.18M	SH	$493.12M 4.44%	7.41M	115.83K	648.01K
EBAY INC.OTR	COM	10.52M	SH	$466.91M 4.20%	9.55M	156.50K	819.62K
TRANSUNIONOTR	COM	6.86M	SH	$426.07M 3.83%	6.22M	97.38K	542.57K
MICROSOFT CORPOTR	COM	1.45M	SH	$417.99M 3.76%	1.32M	23.55K	108.48K
S&P GLOBAL INCOTR	COM	1.11M	SH	$382.30M 3.44%	1.01M	16.74K	85.56K
JOHNSON & JOHNSONOTR	COM	2.43M	SH	$376.53M 3.39%	2.20M	34.30K	192.78K
NEWS CORP NEWOTR	CL B	12.64M	SH	$220.27M 1.98%	11.74M	185.56K	716.41K
WORLD WRESTLING ENTMT INCOTR	CL A	1.64M	SH	$150.00M 1.35%	1.49M	0.00	153.70K
ZILLOW GROUP INCOTR	CL A	2.37M	SH	$103.49M 0.93%	2.15M	33.53K	188.38K
ALPHABET INCOTR	CAP STK CL A	578.29K	SH	$59.99M 0.54%	524.21K	0.00	54.08K
NEW YORK TIMES COOTR	CL A	1.17M	SH	$45.34M 0.41%	1.06M	0.00	109.07K