IF
Independent Franchise Partners LLP 13F Filings Tracker & Latest Positions (Q2 2026)
Independent Franchise Partners LLPCIK: 0001483866
Momentum followerQuality / disciplined sizingLong-term holder
Total reported value
$15.2B
Reporting period: 2026-06-30 · Number of holdings: 26
Independent Franchise Partners LLP disclosed 26 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $15.2B and a quarterly turnover rate of 13.2%.
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Personality snowflake
- Concentration
- 21.06
- Portfolio Stability
- 13.24
- Momentum
- 100
- Sector conviction
- 53.75
- Diversification
- 52
- Sizing Uniformity
- 93.81
Independent Franchise Partners LLP's disclosed holdings carry a Herfindahl concentration index of 0.053 — mathematically equivalent to about 19 equally-sized positions, close to its 26 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.62), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 4.7 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd OTIS
+414.0% $291.6M
Trim ICE
+6.0% -$132.6M
Add SOLV
+2.8% $220.1M
Trim EBAY
-32.9% -$108.3M
Add LYV
+2.5% $206.7M
Trim BMY
+2.4% -$34.7M
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
All eight of the visible top position changes in the reported quarter are active adds — no trims or sells appear in this set. The most conspicuous move is OTIS, whose weight jumped from 0.54% to 2.42%, and the remaining adds are modest top-ups to existing core names (SOLV, LYV, TRU, CRM, KVUE, ABNB). The overall direction is incremental position building rather than rotation; the one divergence is ICE, recorded as an add while its weight fell from 5.45% to 4.24%, meaning the share-count increase was more than offset by price weakness.
Macro & Fundamentals
The additions spread across industrials, health care, communication services, information technology, consumer staples and consumer discretionary — a pattern closer to “adding to conviction names” than to a sector rotation. With the portfolio carrying a modest positive momentum tilt (+4.7 pct pts), these buys appear to lean into already-rising stocks, which would be consistent with a tape where strong trends are being reinforced — an inference from a single quarter's data, not a confirmed causal claim.
Blind Spots / Risks
The clearest red flag sits on ICE: it is flagged as an active add, yet its weight fell from 5.45% to 4.24% — the adverse price move swamped the share-count increase, a divergence that can turn a seemingly disciplined add into a falling-knife catch if the pressure persists. Separately, the visible window covers only the top eight changes; with 26 holdings and roughly 13.2% turnover, the unreported bulk of the portfolio's activity — including any trims or sold-out positions — is simply out of view.
This narrative is produced by AI from this institution's Form 13F filings, as disclosed on SEC EDGAR, and describes past activity only. It is informational, not investment advice. View the original 2026-06-30 Form 13F filing on SEC.gov
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 8.24% | -0.79% | +2.43% | |
| 2 | SOLV | Solventum CORP | Stock-Healthcare | 8.18% | +0.99% | +2.77% | |
| 3 | LYV | Live Nation Entertainment In | Stock-Comm Services | 7.22% | +0.96% | +2.54% | |
| 4 | TRU | Transunion | Stock-Financials | 6.61% | +0.74% | +15.21% | |
| 5 | KVUE | Kenvue Inc | Stock-Consumer Staples | 6.32% | +0.38% | +2.48% | |
| 6 | CRM | Salesforce Inc | Stock-Tech | 5.98% | +0.71% | +44.21% | |
| 7 | AON | Aon plc | Stock-Financials | 5.76% | -0.09% | +2.28% | |
| 8 | NWSA | News CORP - Class A | Stock-Comm Services | 5.22% | -0.18% | +3.72% | |
| 9 | ABNB | Airbnb Inc-class A | Stock-Consumer Disc | 5.09% | +0.43% | +2.81% | |
| 10 | JNJ | Johnson & Johnson | Stock-Healthcare | 5.07% | -0.01% | +2.41% | |
| 11 | IT | Gartner Inc | Stock-Tech | 4.75% | -0.35% | +21.35% | |
| 12 | ICE | Intercontinental Exchange In | Stock-Financials | 4.24% | -1.21% | +6.01% | |
| 13 | Z | Zillow Group Inc - C | Stock-Comm Services | 3.37% | -0.45% | +23.51% | |
| 14 | EBAY | Ebay Inc | Stock-Consumer Disc | 3.33% | -0.98% | -32.86% | |
| 15 | PM | Philip Morris International | Stock-Consumer Staples | 3.06% | +0.10% | +0.69% | |
| 16 | FOXA | Fox CORP - Class A | Stock-Comm Services | 2.87% | -0.47% | +2.74% | |
| 17 | EL | Estee Lauder Companies-cl A | Stock-Consumer Staples | 2.56% | -0.77% | -25.45% | |
| 18 | OTIS | Otis Worldwide CORP | Stock-Industrials | 2.42% | +1.88% | +414.04% | |
| 19 | WMG | Warner Music Group Corp-cl A | Stock-Other | 2.31% | -0.02% | -0.28% | |
| 20 | FOX | Fox CORP - Class B | Stock-Comm Services | 1.68% | -0.29% | +3.29% | |
| 21 | NWS | News CORP - Class B | Stock-Comm Services | 1.66% | -0.16% | -0.96% | |
| 22 | WBD | Warner Bros Discovery Inc | Stock-Comm Services | 1.43% | -0.24% | -6.21% | |
| 23 | ZG | Zillow Group Inc - A | Stock-Comm Services | 0.76% | -0.03% | +34.12% | |
| 24 | RYAN | Ryan Specialty Holdings Inc | Stock-Financials | 0.66% | -0.01% | -6.21% | |
| 25 | CTVA | Corteva Inc | Stock-Materials | 0.62% | -0.08% | -6.21% | |
| 26 | TKO | Tko Group Holdings Inc | Stock-Comm Services | 0.57% | -0.08% | -6.23% |
Portfolio Performance
Performance for Q3 2026
+15.2%
Performance Last 4 Quarters
+11.4%
- Stdev
- +16.1%
- Beta
- +0.82
- Alpha
- +3.7%
- Max Drawdown
- -8.7%
- Annualized Perf
- +20.5%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +2.28
- Stutzer
- +0.36
- Treynor
- +0.25
- Sterling
- +1.18
- Calmar
- +2.36
- Information Ratio
- 0
- Tracking Error
- +12.4%
- Stdev Down
- +8.8%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +42.4%
- Worst 12 Months
- +0.1%
- Efficiency Ratio
- +0.5
- Sharpe
- +1.25
- Stdev Sectors
- +8.2%
- Skewness
- -0.26
- Kurtosis
- -0.85
- Upside Potential
- +4
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 26 | $15.2B | 13 | ||
| 2026 Q1 | 26 | $14.3B | 23 | ||
| 2025 Q4 | 27 | $15.7B | 21 | ||
| 2025 Q3 | 29 | $15.2B | 37 | ||
| 2025 Q2 | 25 | $15.0B | 0 | ||
| 2025 Q1 | 25 | $14.0B | 100 | ||
| 2024 Q4 | 25 | $13.3B | 0 | ||
| 2024 Q3 | 25 | $11.3B | 0 | ||
| 2024 Q2 | 24 | $10.9B | 0 | ||
| 2024 Q1 | 23 | $12.1B | 0 | ||
| 2023 Q4 | 25 | $11.8B | 0 | ||
| 2023 Q3 | 24 | $11.5B | 0 | ||
| 2023 Q2 | 24 | $11.9B | 0 | ||
| 2023 Q1 | 23 | $11.1B | 0 | ||
| 2022 Q4 | 24 | $10.2B | 0 | ||
| 2022 Q3 | 25 | $9.5B | 0 | ||
| 2022 Q2 | 26 | $10.6B | 0 | ||
| 2022 Q1 | 26 | $12.7B | 0 | ||
| 2021 Q4 | 26 | $12.7B | 0 | ||
| 2021 Q3 | 25 | $12.7B | 0 | ||
| 2021 Q2 | 24 | $13.4B | 97 | ||
| 2021 Q1 | 24 | $12.6B | 21 | ||
| 2020 Q4 | 25 | $11.6B | 22 | ||
| 2020 Q3 | 25 | $10.1B | 26 | ||
| 2020 Q2 | 25 | $9.8B | 26 | ||
| 2020 Q1 | 26 | $8.1B | 44 | ||
| 2019 Q4 | 22 | $10.0B | 23 | ||
| 2019 Q3 | 22 | $9.8B | 12 | ||
| 2019 Q2 | 20 | $9.7B | 23 | ||
| 2019 Q1 | 22 | $8.9B | 45 | ||
| 2018 Q4 | 18 | $8.1B | 31 | ||
| 2018 Q3 | 17 | $10.4B | 22 | ||
| 2018 Q2 | 20 | $10.6B | 31 | ||
| 2018 Q1 | 23 | $11.3B | 26 | ||
| 2017 Q4 | 25 | $11.8B | 18 | ||
| 2017 Q3 | 23 | $11.2B | 13 | ||
| 2017 Q2 | 24 | $11.1B | 18 | ||
| 2017 Q1 | 22 | $10.5B | 8 | ||
| 2016 Q4 | 22 | $10.0B | 11 | ||
| 2016 Q3 | 21 | $10.0B | 18 | ||
| 2016 Q2 | 19 | $9.1B | 19 | ||
| 2016 Q1 | 20 | $8.9B | 20 | ||
| 2015 Q4 | 20 | $8.8B | 15 | ||
| 2015 Q3 | 20 | $7.9B | 24 | ||
| 2015 Q2 | 19 | $8.5B | 14 | ||
| 2015 Q1 | 19 | $8.2B | 23 | ||
| 2014 Q4 | 18 | $7.6B | 9 | ||
| 2014 Q3 | 19 | $7.2B | 14 | ||
| 2014 Q2 | 19 | $6.6B | 27 | ||
| 2014 Q1 | 20 | $6.1B | 7 | ||
| 2013 Q4 | 21 | $6.3B | 14 | ||
| 2013 Q3 | 22 | $5.9B | 20 | ||
| 2013 Q2 | 22 | $5.2B | 0 |
Holding changes this quarter
Independent Franchise Partners LLP's most significant position changes for 2026-06-30: Add: Otis Worldwide CORP (OTIS) — shares +414.04%; Add: Intercontinental Exchange In (ICE) — shares +6.01%; Add: Solventum CORP (SOLV) — shares +2.77%; Trim: Ebay Inc (EBAY) — shares -32.86%; Add: Live Nation Entertainment In (LYV) — shares +2.54%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | OTIS | Otis Worldwide CORP | +1.9% | +414.04% | Add |
| 2 | SOLV | Solventum CORP | +1% | +2.77% | Add |
| 3 | LYV | Live Nation Entertainment In | +1% | +2.54% | Add |
| 4 | TRU | Transunion | +0.7% | +15.21% | Add |
| 5 | CRM | Salesforce Inc | +0.7% | +44.21% | Add |
| 6 | ABNB | Airbnb Inc-class A | +0.4% | +2.81% | Add |
| 7 | KVUE | Kenvue Inc | +0.4% | +2.48% | Add |
| 8 | PM | Philip Morris International | +0.1% | +0.69% | Add |
| 9 | JNJ | Johnson & Johnson | 0% | +2.41% | Add |
| 10 | RYAN | Ryan Specialty Holdings Inc | 0% | -6.21% | Trim |
| 11 | WMG | Warner Music Group Corp-cl A | 0% | -0.28% | Trim |
| 12 | ZG | Zillow Group Inc - A | 0% | +34.12% | Add |
| 13 | TKO | Tko Group Holdings Inc | -0.1% | -6.23% | Trim |
| 14 | CTVA | Corteva Inc | -0.1% | -6.21% | Trim |
| 15 | AON | Aon plc | -0.1% | +2.28% | Add |
| 16 | NWS | News CORP - Class B | -0.2% | -0.96% | Trim |
| 17 | NWSA | News CORP - Class A | -0.2% | +3.72% | Add |
| 18 | WBD | Warner Bros Discovery Inc | -0.2% | -6.21% | Trim |
| 19 | FOX | Fox CORP - Class B | -0.3% | +3.29% | Add |
| 20 | IT | Gartner Inc | -0.4% | +21.35% | Add |
| 21 | Z | Zillow Group Inc - C | -0.5% | +23.51% | Add |
| 22 | FOXA | Fox CORP - Class A | -0.5% | +2.74% | Add |
| 23 | EL | Estee Lauder Companies-cl A | -0.8% | -25.45% | Trim |
| 24 | BMY | Bristol-myers Squibb Co | -0.8% | +2.43% | Add |
| 25 | EBAY | Ebay Inc | -1% | -32.86% | Trim |
| 26 | ICE | Intercontinental Exchange In | -1.2% | +6.01% | Add |
Filing History
FAQ
What is Independent Franchise Partners LLP and what type of investor is it?
Independent Franchise Partners LLP is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $15.2B, spread across 26 disclosed positions.
What are Independent Franchise Partners LLP's largest equity positions?
Based on the latest 13F filing, Independent Franchise Partners LLP's top holdings by market value are:
1. Bristol-myers Squibb Co (BMY) — $1.3B (8.2%)
2. Solventum CORP (SOLV) — $1.2B (8.2%)
3. Live Nation Entertainment In (LYV) — $1.1B (7.2%)
4. Transunion (TRU) — $1.0B (6.6%)
5. Kenvue Inc (KVUE) — $963.7M (6.3%)
What changes did Independent Franchise Partners LLP make in its most recent portfolio filing?
In the latest reported quarter, Independent Franchise Partners LLP made 26 notable position adjustments: 0 new positions were initiated, 18 existing holdings were added to, 8 positions were partially reduced, and 0 were completely exited. The largest of these moves: Add: Otis Worldwide CORP (OTIS) — shares +414.04%; Add: Intercontinental Exchange In (ICE) — shares +6.01%; Add: Solventum CORP (SOLV) — shares +2.77%; Trim: Ebay Inc (EBAY) — shares -32.86%; Add: Live Nation Entertainment In (LYV) — shares +2.54%
What sectors does Independent Franchise Partners LLP focus on?
Independent Franchise Partners LLP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Communication Services: 25.4%
• Health Care: 22.0%
• Financials: 17.7%
• Consumer Staples: 12.2%
• Information Technology: 11.0%
• Consumer Discretionary: 8.6%
Investment Profile
Independent Franchise Partners LLP returned an annualized 20.5% over the trailing 36 months — outperforming the S&P 500 by 3.7 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.82 (less volatile than the market) and a 47% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding.
It has added to its CRM position over the past two quarters (+$769.1M, now $911.6M), while trimming CTVA over the same stretch (-$609.1M, still holding $94.4M).
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