Filed: 2/17/2026ACC: 0001172661-26-000867
📋 What this filing means
INDEPENDENT FRANCHISE PARTNERS LLP filed this quarterly 13F‑HR report disclosing 27 equity positions with a total reported market value of $15.72B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
27
Positions
$15.72B
Total AUM (reported)
246.34M
Total Shares
Allocation by class
COM$8.27B52.6%
CL A$1.95B12.4%
COM SHS$1.22B7.7%
COM CL A$1.10B7.0%
CL C CAP STK$747.24M4.8%
SHS CL A$746.53M4.7%
CL A COM$714.44M4.5%
Portfolio Concentration
Top 3$3.17B20.2%
4–10$5.57B35.4%
11–25$6.78B43.1%
Rest$194.49M1.2%
Top 3 weight
20.2%
Top 10 weight
55.6%
Voting Authority Distribution
Total shares with voting rights: 246.34M
Sole
Full voting authority
241.34M
shares
% of voting shares98.0%
Shared
Joint voting authority
1.29M
shares
% of voting shares0.5%
None
No voting authority
3.71M
shares
% of voting shares1.5%
Investment Discretion (by position count)
Sole0
Shared0
Other27
Dominant voting typeSole · 98.0% of voting shares
Institutional Holdings27
Rows:
SOLVENTUM CORP
OTRShares15.36M
TypeSH
Market value$1.22B
7.74%
Sole
15M
Shared
91.65K
None
261.13K
BRISTOL-MYERS SQUIBB CO
OTRShares20.83M
TypeSH
Market value$1.12B
7.14%
Sole
20.37M
Shared
119.10K
None
338.90K
GARTNER INC
OTRShares3.31M
TypeSH
Market value$834.69M
5.31%
Sole
3.23M
Shared
19.81K
None
56.45K
KENVUE INC
OTRShares48.15M
TypeSH
Market value$830.53M
5.28%
Sole
47.08M
Shared
278K
None
788.61K
LAUDER ESTEE COS INC
OTRShares7.84M
TypeSH
Market value$820.72M
5.22%
Sole
7.66M
Shared
46.80K
None
130.74K
LIVE NATION ENTERTAINMENT IN
OTRShares5.73M
TypeSH
Market value$817.05M
5.20%
Sole
5.61M
Shared
33.57K
None
94.06K
TRANSUNION
OTRShares9.14M
TypeSH
Market value$783.49M
4.98%
Sole
8.93M
Shared
54.52K
None
155.28K
INTERCONTINENTAL EXCHANGE IN
OTRShares4.83M
TypeSH
Market value$782.57M
4.98%
Sole
4.72M
Shared
30.64K
None
78.89K
NEWS CORP NEW
OTRShares29.93M
TypeSH
Market value$781.88M
4.97%
Sole
29.26M
Shared
150.22K
None
528.32K
JOHNSON & JOHNSON
OTRShares3.66M
TypeSH
Market value$756.68M
4.81%
Sole
3.58M
Shared
22.37K
None
51.35K
ZILLOW GROUP INC
OTRShares10.95M
TypeSH
Market value$747.24M
4.75%
Sole
10.72M
Shared
62.06K
None
173.92K
AON PLC
OTRShares2.12M
TypeSH
Market value$746.53M
4.75%
Sole
2.07M
Shared
11.88K
None
33.99K
FOX CORP
OTRShares9.78M
TypeSH
Market value$714.44M
4.54%
Sole
9.56M
Shared
56.08K
None
156.62K
CORTEVA INC
OTRShares10.50M
TypeSH
Market value$703.51M
4.47%
Sole
10.26M
Shared
60.73K
None
173.70K
AIRBNB INC
OTRShares5.15M
TypeSH
Market value$698.45M
4.44%
Sole
5.03M
Shared
30.71K
None
88K
EBAY INC.
OTRShares7.75M
TypeSH
Market value$674.87M
4.29%
Sole
7.58M
Shared
43.90K
None
125.50K
PHILIP MORRIS INTL INC
OTRShares3.82M
TypeSH
Market value$613.33M
3.90%
Sole
3.74M
Shared
0.00
None
79.09K
WARNER MUSIC GROUP CORP
OTRShares13.10M
TypeSH
Market value$401.66M
2.55%
Sole
12.90M
Shared
50.64K
None
141.91K
WARNER BROS DISCOVERY INC
OTRShares12.70M
TypeSH
Market value$365.93M
2.33%
Sole
12.70M
Shared
0.00
None
0.00
FOX CORP
OTRShares5.17M
TypeSH
Market value$335.99M
2.14%
Sole
5.06M
Shared
31.45K
None
87.99K
NEWS CORP NEW
OTRShares9.16M
TypeSH
Market value$271.45M
1.73%
Sole
8.97M
Shared
75.48K
None
117.13K
SALESFORCE INC
OTRShares538K
TypeSH
Market value$142.52M
0.91%
Sole
538K
Shared
0.00
None
0.00
ZILLOW GROUP INC
OTRShares2.02M
TypeSH
Market value$138.14M
0.88%
Sole
1.98M
Shared
12.08K
None
33.85K
RB GLOBAL INC
OTRShares1.15M
TypeSH
Market value$118.49M
0.75%
Sole
1.13M
Shared
4.08K
None
13.17K
RYAN SPECIALTY HOLDINGS INC
OTRShares2.12M
TypeSH
Market value$109.21M
0.69%
Sole
2.12M
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
SOLVENTUM CORPOTR | COM SHS | 15.36M | SH | $1.22B 7.74% | 15M | 91.65K | 261.13K |
BRISTOL-MYERS SQUIBB COOTR | COM | 20.83M | SH | $1.12B 7.14% | 20.37M | 119.10K | 338.90K |
GARTNER INCOTR | COM | 3.31M | SH | $834.69M 5.31% | 3.23M | 19.81K | 56.45K |
KENVUE INCOTR | COM | 48.15M | SH | $830.53M 5.28% | 47.08M | 278K | 788.61K |
LAUDER ESTEE COS INCOTR | CL A | 7.84M | SH | $820.72M 5.22% | 7.66M | 46.80K | 130.74K |
LIVE NATION ENTERTAINMENT INOTR | COM | 5.73M | SH | $817.05M 5.20% | 5.61M | 33.57K | 94.06K |
TRANSUNIONOTR | COM | 9.14M | SH | $783.49M 4.98% | 8.93M | 54.52K | 155.28K |
INTERCONTINENTAL EXCHANGE INOTR | COM | 4.83M | SH | $782.57M 4.98% | 4.72M | 30.64K | 78.89K |
NEWS CORP NEWOTR | CL A | 29.93M | SH | $781.88M 4.97% | 29.26M | 150.22K | 528.32K |
JOHNSON & JOHNSONOTR | COM | 3.66M | SH | $756.68M 4.81% | 3.58M | 22.37K | 51.35K |
ZILLOW GROUP INCOTR | CL C CAP STK | 10.95M | SH | $747.24M 4.75% | 10.72M | 62.06K | 173.92K |
AON PLCOTR | SHS CL A | 2.12M | SH | $746.53M 4.75% | 2.07M | 11.88K | 33.99K |
FOX CORPOTR | CL A COM | 9.78M | SH | $714.44M 4.54% | 9.56M | 56.08K | 156.62K |
CORTEVA INCOTR | COM | 10.50M | SH | $703.51M 4.47% | 10.26M | 60.73K | 173.70K |
AIRBNB INCOTR | COM CL A | 5.15M | SH | $698.45M 4.44% | 5.03M | 30.71K | 88K |
EBAY INC.OTR | COM | 7.75M | SH | $674.87M 4.29% | 7.58M | 43.90K | 125.50K |
PHILIP MORRIS INTL INCOTR | COM | 3.82M | SH | $613.33M 3.90% | 3.74M | 0.00 | 79.09K |
WARNER MUSIC GROUP CORPOTR | COM CL A | 13.10M | SH | $401.66M 2.55% | 12.90M | 50.64K | 141.91K |
WARNER BROS DISCOVERY INCOTR | COM SER A | 12.70M | SH | $365.93M 2.33% | 12.70M | 0.00 | 0.00 |
FOX CORPOTR | CL B COM | 5.17M | SH | $335.99M 2.14% | 5.06M | 31.45K | 87.99K |
NEWS CORP NEWOTR | CL B | 9.16M | SH | $271.45M 1.73% | 8.97M | 75.48K | 117.13K |
SALESFORCE INCOTR | COM | 538K | SH | $142.52M 0.91% | 538K | 0.00 | 0.00 |
ZILLOW GROUP INCOTR | CL A | 2.02M | SH | $138.14M 0.88% | 1.98M | 12.08K | 33.85K |
RB GLOBAL INCOTR | COM | 1.15M | SH | $118.49M 0.75% | 1.13M | 4.08K | 13.17K |
RYAN SPECIALTY HOLDINGS INCOTR | CL A | 2.12M | SH | $109.21M 0.69% | 2.12M | 0.00 | 0.00 |
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