Independent Franchise Partners LLP Long-Term Concentrated

Location: London, X0

CIK: 0001483866 · Show all filings

Period: Q1 2026 (← Previous)

Filing Date: May 14, 2026

Total Value ($000): $14,289,822 (100.0% shares, 0.0% debt)

Holdings (26)

Increased Positions (15)

CRM SALESFORCE INC 5.3%

Value ($000) $753,223 (+428.5%) Shares 4,035,050 (+650.0%) Est. Cost $220.09 Unrealized -2.0%

Z ZILLOW GROUP INC 3.8%

Value ($000) $546,110 (-26.9%) Shares 13,197,429 (+20.5%) Est. Cost $62.65 Unrealized -6.2%

SOLV SOLVENTUM CORP 7.2%

Value ($000) $1,027,397 (-15.6%) Shares 15,733,495 (+2.5%) Est. Cost $72.74 Unrealized +7.8%

BMY BRISTOL-MYERS SQUIBB CO 9.0%

Value ($000) $1,290,357 (+14.9%) Shares 21,275,474 (+2.1%) Est. Cost $48.08 Unrealized +19.5%

IT GARTNER INC 5.1%

Value ($000) $728,486 (-12.7%) Shares 4,600,771 (+39.1%) Est. Cost $264.12 Unrealized -25.0%

AON AON PLC 5.8%

Value ($000) $835,355 (+11.9%) Shares 2,588,002 (+22.3%) Est. Cost $274.24 Unrealized +22.5%

LYV LIVE NATION ENTERTAINMENT IN 6.3%

Value ($000) $894,434 (+9.5%) Shares 5,864,757 (+2.3%) Est. Cost $121.37 Unrealized +22.2%

TRU TRANSUNION 5.9%

Value ($000) $839,409 (+7.1%) Shares 12,131,944 (+32.8%) Est. Cost $82.80 Unrealized -4.7%

FOX FOX CORP 2.0%

Value ($000) $281,848 (-16.1%) Shares 5,307,881 (+2.6%) Est. Cost $31.73 Unrealized +91.5%

ABNB AIRBNB INC 4.7%

Value ($000) $666,210 (-4.6%) Shares 5,275,661 (+2.5%) Est. Cost $128.47 Unrealized +0.7%

ZG ZILLOW GROUP INC 0.8%

Value ($000) $113,346 (-17.9%) Shares 2,738,482 (+35.3%) Est. Cost $61.68 Unrealized -5.6%

KVUE KENVUE INC 5.9%

Value ($000) $848,361 (+2.1%) Shares 49,208,848 (+2.2%) Est. Cost $19.71 Unrealized -10.4%

RYAN RYAN SPECIALTY HOLDINGS INC 0.7%

Value ($000) $95,176 (-12.9%) Shares 2,820,854 (+33.4%) Est. Cost $55.44 Unrealized -15.9%

NWSA NEWS CORP NEW 5.4%

Value ($000) $770,950 (-1.4%) Shares 30,924,574 (+3.3%) Est. Cost $16.64 Unrealized +51.2%

ICE INTERCONTINENTAL EXCHANGE IN 5.5%

Value ($000) $779,353 (-0.4%) Shares 4,955,192 (+2.6%) Est. Cost $118.95 Unrealized +38.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CRM	SALESFORCE INC	4,035,050 (+650.0%)	$753,223 (+428.5%)	5.3%	$220.09	-2.0%	COM	79466L302
Z	ZILLOW GROUP INC	13,197,429 (+20.5%)	$546,110 (-26.9%)	3.8%	$62.65	-6.2%	CL C CAP STK	98954M200
SOLV	SOLVENTUM CORP	15,733,495 (+2.5%)	$1,027,397 (-15.6%)	7.2%	$72.74	+7.8%	COM SHS	83444M101
BMY	BRISTOL-MYERS SQUIBB CO	21,275,474 (+2.1%)	$1,290,357 (+14.9%)	9.0%	$48.08	+19.5%	COM	110122108
IT	GARTNER INC	4,600,771 (+39.1%)	$728,486 (-12.7%)	5.1%	$264.12	-25.0%	COM	366651107
AON	AON PLC	2,588,002 (+22.3%)	$835,355 (+11.9%)	5.8%	$274.24	+22.5%	SHS CL A	G0403H108
LYV	LIVE NATION ENTERTAINMENT IN	5,864,757 (+2.3%)	$894,434 (+9.5%)	6.3%	$121.37	+22.2%	COM	538034109
TRU	TRANSUNION	12,131,944 (+32.8%)	$839,409 (+7.1%)	5.9%	$82.80	-4.7%	COM	89400J107
FOX	FOX CORP	5,307,881 (+2.6%)	$281,848 (-16.1%)	2.0%	$31.73	+91.5%	CL B COM	35137L204
ABNB	AIRBNB INC	5,275,661 (+2.5%)	$666,210 (-4.6%)	4.7%	$128.47	+0.7%	COM CL A	009066101
ZG	ZILLOW GROUP INC	2,738,482 (+35.3%)	$113,346 (-17.9%)	0.8%	$61.68	-5.6%	CL A	98954M101
KVUE	KENVUE INC	49,208,848 (+2.2%)	$848,361 (+2.1%)	5.9%	$19.71	-10.4%	COM	49177J102
RYAN	RYAN SPECIALTY HOLDINGS INC	2,820,854 (+33.4%)	$95,176 (-12.9%)	0.7%	$55.44	-15.9%	CL A	78351F107
NWSA	NEWS CORP NEW	30,924,574 (+3.3%)	$770,950 (-1.4%)	5.4%	$16.64	+51.2%	CL A	65249B109
ICE	INTERCONTINENTAL EXCHANGE IN	4,955,192 (+2.6%)	$779,353 (-0.4%)	5.5%	$118.95	+38.7%	COM	45866F104

Exited Positions (1)

RBA RB GLOBAL INC 0.8%

Value ($000) $118,485 Shares 1,151,798 Est. Cost $56.38 Unrealized +95.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RBA	RB GLOBAL INC	1,151,798	$118,485	0.8%	$56.38	+95.0%	—	74935Q107

Decreased Positions (9)

CTVA CORTEVA INC 0.7%

Value ($000) $99,522 (-85.9%) Shares 1,188,896 (-88.7%) Est. Cost $45.47 Unrealized +60.0%

EL LAUDER ESTEE COS INC 3.3%

Value ($000) $475,730 (-42.0%) Shares 6,628,540 (-15.4%) Est. Cost $111.89 Unrealized -0.0%

FOXA FOX CORP 3.3%

Value ($000) $477,402 (-33.2%) Shares 8,174,694 (-16.4%) Est. Cost $32.83 Unrealized +104.7%

PM PHILIP MORRIS INTL INC 3.0%

Value ($000) $423,364 (-31.0%) Shares 2,560,566 (-33.0%) Est. Cost $68.85 Unrealized +155.5%

WBD WARNER BROS DISCOVERY INC 1.7%

Value ($000) $238,840 (-34.7%) Shares 8,697,730 (-31.5%) Est. Cost $10.46 Unrealized +170.0%

EBAY EBAY INC. 4.3%

Value ($000) $616,409 (-8.7%) Shares 6,772,232 (-12.6%) Est. Cost $47.10 Unrealized +89.6%

JNJ JOHNSON & JOHNSON 5.1%

Value ($000) $726,338 (-4.0%) Shares 2,971,436 (-18.7%) Est. Cost $121.60 Unrealized +87.4%

OTIS OTIS WORLDWIDE CORP 0.5%

Value ($000) $77,256 (-16.9%) Shares 1,002,284 (-5.8%) Est. Cost $90.13 Unrealized -0.7%

TKO TKO GROUP HOLDINGS INC 0.6%

Value ($000) $92,275 (-9.1%) Shares 457,600 (-5.8%) Est. Cost $92.51 Unrealized +122.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CTVA	CORTEVA INC	1,188,896 (-88.7%)	$99,522 (-85.9%)	0.7%	$45.47	+60.0%	COM	22052L104
EL	LAUDER ESTEE COS INC	6,628,540 (-15.4%)	$475,730 (-42.0%)	3.3%	$111.89	-0.0%	CL A	518439104
FOXA	FOX CORP	8,174,694 (-16.4%)	$477,402 (-33.2%)	3.3%	$32.83	+104.7%	CL A COM	35137L105
PM	PHILIP MORRIS INTL INC	2,560,566 (-33.0%)	$423,364 (-31.0%)	3.0%	$68.85	+155.5%	COM	718172109
WBD	WARNER BROS DISCOVERY INC	8,697,730 (-31.5%)	$238,840 (-34.7%)	1.7%	$10.46	+170.0%	COM SER A	934423104
EBAY	EBAY INC.	6,772,232 (-12.6%)	$616,409 (-8.7%)	4.3%	$47.10	+89.6%	COM	278642103
JNJ	JOHNSON & JOHNSON	2,971,436 (-18.7%)	$726,338 (-4.0%)	5.1%	$121.60	+87.4%	COM	478160104
OTIS	OTIS WORLDWIDE CORP	1,002,284 (-5.8%)	$77,256 (-16.9%)	0.5%	$90.13	-0.7%	COM	68902V107
TKO	TKO GROUP HOLDINGS INC	457,600 (-5.8%)	$92,275 (-9.1%)	0.6%	$92.51	+122.2%	CL A	87256C101

Unchanged Positions (2)

WMG WARNER MUSIC GROUP CORP 2.3%

Value ($000) $332,895 Shares 13,034,254 Est. Cost $31.19 Unrealized -5.4%

NWS NEWS CORP NEW 1.8%

Value ($000) $259,776 Shares 9,111,760 Est. Cost $14.53 Unrealized +97.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WMG	WARNER MUSIC GROUP CORP	13,034,254	$332,895	2.3%	$31.19	-5.4%	COM CL A	934550203
NWS	NEWS CORP NEW	9,111,760	$259,776	1.8%	$14.53	+97.9%	CL B	65249B208