Filed: 8/13/2025ACC: 0001172661-25-003135
📋 What this filing means
INDEPENDENT FRANCHISE PARTNERS LLP filed this quarterly 13F‑HR report disclosing 25 equity positions with a total reported market value of $15.03B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
25
Positions
$15.03B
Total AUM (reported)
228.58M
Total Shares
Allocation by class
COM$9.04B60.1%
CL A$2.22B14.7%
CL C CAP STK$773.35M5.1%
COM SHS$769.10M5.1%
CL A COM$601.66M4.0%
SHS CL A$528.33M3.5%
COM CL A$361.75M2.4%
Portfolio Concentration
Top 3$3.09B20.6%
4–10$5.54B36.8%
11–25$6.40B42.6%
Top 3 weight
20.6%
Top 10 weight
57.4%
Voting Authority Distribution
Total shares with voting rights: 228.58M
Sole
Full voting authority
225.99M
shares
% of voting shares98.9%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
2.59M
shares
% of voting shares1.1%
Investment Discretion (by position count)
Sole0
Shared0
Other25
Dominant voting typeSole · 98.9% of voting shares
Institutional Holdings25
Rows:
INTERCONTINENTAL EXCHANGE IN
OTRShares6.11M
TypeSH
Market value$1.12B
7.45%
Sole
6.03M
Shared
0.00
None
77.03K
CORTEVA INC
OTRShares13.40M
TypeSH
Market value$998.36M
6.64%
Sole
13.23M
Shared
0.00
None
167.38K
BRISTOL-MYERS SQUIBB CO
OTRShares20.98M
TypeSH
Market value$971.02M
6.46%
Sole
20.72M
Shared
0.00
None
259.46K
NEWS CORP NEW
OTRShares29.17M
TypeSH
Market value$866.95M
5.77%
Sole
28.77M
Shared
0.00
None
400.61K
LIVE NATION ENTERTAINMENT IN
OTRShares5.64M
TypeSH
Market value$853.27M
5.68%
Sole
5.57M
Shared
0.00
None
72.01K
JOHNSON & JOHNSON
OTRShares5.24M
TypeSH
Market value$801.04M
5.33%
Sole
5.18M
Shared
0.00
None
62.28K
ORACLE CORP
OTRShares3.57M
TypeSH
Market value$780.17M
5.19%
Sole
3.52M
Shared
0.00
None
44.08K
ZILLOW GROUP INC
OTRShares11.04M
TypeSH
Market value$773.35M
5.14%
Sole
10.91M
Shared
0.00
None
133.15K
SOLVENTUM CORP
OTRShares10.14M
TypeSH
Market value$769.10M
5.12%
Sole
10.01M
Shared
0.00
None
129.21K
PHILIP MORRIS INTL INC
OTRShares3.81M
TypeSH
Market value$694.81M
4.62%
Sole
3.75M
Shared
0.00
None
60.55K
KENVUE INC
OTRShares31.27M
TypeSH
Market value$654.39M
4.35%
Sole
30.91M
Shared
0.00
None
353.67K
LAUDER ESTEE COS INC
OTRShares7.89M
TypeSH
Market value$637.68M
4.24%
Sole
7.79M
Shared
0.00
None
100.10K
RB GLOBAL INC
OTRShares5.70M
TypeSH
Market value$605.07M
4.03%
Sole
5.63M
Shared
0.00
None
72.42K
EBAY INC.
OTRShares8.11M
TypeSH
Market value$604.15M
4.02%
Sole
8.02M
Shared
0.00
None
96.08K
FOX CORP
OTRShares10.74M
TypeSH
Market value$601.66M
4.00%
Sole
10.62M
Shared
0.00
None
119.91K
TKO GROUP HOLDINGS INC
OTRShares3.15M
TypeSH
Market value$572.43M
3.81%
Sole
3.11M
Shared
0.00
None
37.97K
ELECTRONIC ARTS INC
OTRShares3.42M
TypeSH
Market value$545.40M
3.63%
Sole
3.38M
Shared
0.00
None
38.48K
AON PLC
OTRShares1.48M
TypeSH
Market value$528.33M
3.51%
Sole
1.46M
Shared
0.00
None
16.63K
TRANSUNION
OTRShares4.65M
TypeSH
Market value$408.93M
2.72%
Sole
4.59M
Shared
0.00
None
53.54K
WARNER MUSIC GROUP CORP
OTRShares13.28M
TypeSH
Market value$361.75M
2.41%
Sole
13.17M
Shared
0.00
None
108.64K
NEWS CORP NEW
OTRShares9.42M
TypeSH
Market value$323.33M
2.15%
Sole
9.33M
Shared
0.00
None
93.08K
FOX CORP
OTRShares5.21M
TypeSH
Market value$268.89M
1.79%
Sole
5.14M
Shared
0.00
None
67.37K
WARNER BROS DISCOVERY INC
OTRShares13.04M
TypeSH
Market value$149.41M
0.99%
Sole
13.04M
Shared
0.00
None
0.00
ZILLOW GROUP INC
OTRShares2.04M
TypeSH
Market value$139.62M
0.93%
Sole
2.01M
Shared
0.00
None
25.91K
RENTOKIL INITIAL PLC
OTRShares102.16K
TypeSH
Market value$2.45M
0.02%
Sole
97.56K
Shared
0.00
None
4.60K
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
INTERCONTINENTAL EXCHANGE INOTR | COM | 6.11M | SH | $1.12B 7.45% | 6.03M | 0.00 | 77.03K |
CORTEVA INCOTR | COM | 13.40M | SH | $998.36M 6.64% | 13.23M | 0.00 | 167.38K |
BRISTOL-MYERS SQUIBB COOTR | COM | 20.98M | SH | $971.02M 6.46% | 20.72M | 0.00 | 259.46K |
NEWS CORP NEWOTR | CL A | 29.17M | SH | $866.95M 5.77% | 28.77M | 0.00 | 400.61K |
LIVE NATION ENTERTAINMENT INOTR | COM | 5.64M | SH | $853.27M 5.68% | 5.57M | 0.00 | 72.01K |
JOHNSON & JOHNSONOTR | COM | 5.24M | SH | $801.04M 5.33% | 5.18M | 0.00 | 62.28K |
ORACLE CORPOTR | COM | 3.57M | SH | $780.17M 5.19% | 3.52M | 0.00 | 44.08K |
ZILLOW GROUP INCOTR | CL C CAP STK | 11.04M | SH | $773.35M 5.14% | 10.91M | 0.00 | 133.15K |
SOLVENTUM CORPOTR | COM SHS | 10.14M | SH | $769.10M 5.12% | 10.01M | 0.00 | 129.21K |
PHILIP MORRIS INTL INCOTR | COM | 3.81M | SH | $694.81M 4.62% | 3.75M | 0.00 | 60.55K |
KENVUE INCOTR | COM | 31.27M | SH | $654.39M 4.35% | 30.91M | 0.00 | 353.67K |
LAUDER ESTEE COS INCOTR | CL A | 7.89M | SH | $637.68M 4.24% | 7.79M | 0.00 | 100.10K |
RB GLOBAL INCOTR | COM | 5.70M | SH | $605.07M 4.03% | 5.63M | 0.00 | 72.42K |
EBAY INC.OTR | COM | 8.11M | SH | $604.15M 4.02% | 8.02M | 0.00 | 96.08K |
FOX CORPOTR | CL A COM | 10.74M | SH | $601.66M 4.00% | 10.62M | 0.00 | 119.91K |
TKO GROUP HOLDINGS INCOTR | CL A | 3.15M | SH | $572.43M 3.81% | 3.11M | 0.00 | 37.97K |
ELECTRONIC ARTS INCOTR | COM | 3.42M | SH | $545.40M 3.63% | 3.38M | 0.00 | 38.48K |
AON PLCOTR | SHS CL A | 1.48M | SH | $528.33M 3.51% | 1.46M | 0.00 | 16.63K |
TRANSUNIONOTR | COM | 4.65M | SH | $408.93M 2.72% | 4.59M | 0.00 | 53.54K |
WARNER MUSIC GROUP CORPOTR | COM CL A | 13.28M | SH | $361.75M 2.41% | 13.17M | 0.00 | 108.64K |
NEWS CORP NEWOTR | CL B | 9.42M | SH | $323.33M 2.15% | 9.33M | 0.00 | 93.08K |
FOX CORPOTR | CL B COM | 5.21M | SH | $268.89M 1.79% | 5.14M | 0.00 | 67.37K |
WARNER BROS DISCOVERY INCOTR | COM SER A | 13.04M | SH | $149.41M 0.99% | 13.04M | 0.00 | 0.00 |
ZILLOW GROUP INCOTR | CL A | 2.04M | SH | $139.62M 0.93% | 2.01M | 0.00 | 25.91K |
RENTOKIL INITIAL PLCOTR | SPONSORED ADR | 102.16K | SH | $2.45M 0.02% | 97.56K | 0.00 | 4.60K |