1y return−0.6%S&P 500 +20.9%
3y return+42.4%S&P 500 +68.5%
5y return+47.7%S&P 500 +74.5%
10y return+234.9%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $335 against $357 in the S&P 500.2
Independent Franchise Partners LLPS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| BMYBristol-myers Squibb Co | $1.3B | 8.2% | +2.4% |
| SOLVSolventum Corp | $1.2B | 8.2% | +2.8% |
| LYVLive Nation Entertainment In | $1.1B | 7.2% | +2.5% |
| TRUTransunion | $1.0B | 6.6% | +15.2% |
| KVUEKenvue Inc | $963.7M | 6.3% | +2.5% |
| CRMSalesforce Inc | $911.6M | 6.0% | +44.2% |
| Aon PLCCUSIP G0403H108 | $878.0M | 5.8% | +2.3% |
| NWSANews Corp New | $796.4M | 5.2% | +3.7% |
| ABNBAirbnb Inc | $776.1M | 5.1% | +2.8% |
| JNJJohnson & Johnson | $772.9M | 5.1% | +2.4% |
| ITGartner Inc | $723.7M | 4.7% | +21.3% |
| ICEIntercontinental Exchange In | $646.7M | 4.2% | +6.0% |
| ZZillow Group Inc | $513.8M | 3.4% | +23.5% |
| EBAYEbay Inc. | $508.1M | 3.3% | −32.9% |
| PMPhilip Morris Intl Inc | $466.4M | 3.1% | |
| FOXAFox Corp | $438.1M | 2.9% | +2.7% |
| ELLauder Estee Cos Inc | $390.2M | 2.6% | −25.4% |
| OTISOtis Worldwide Corp | $368.9M | 2.4% | +414.0% |
| WMGWarner Music Group Corp | $351.9M | 2.3% | |
| FOXFox Corp | $256.8M | 1.7% | +3.3% |
| NWSNews Corp New | $253.2M | 1.7% | |
| Warner Bros Discovery IncCUSIP 934423104 | $217.5M | 1.4% | −6.2% |
| ZGZillow Group Inc | $115.2M | 0.8% | +34.1% |
| RYANRyan Specialty Holdings Inc | $99.9M | 0.7% | −6.2% |
| CTVACorteva Inc | $94.4M | 0.6% | −6.2% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| CTVACorteva Inc | June 30, 2020 | +216.1% | $94.4M |
| PMPhilip Morris Intl Inc | June 30, 2020 | +158.2% | $466.4M |
| Warner Bros Discovery IncCUSIP 934423104 | March 31, 2025 | +148.5% | $217.5M |
| TKOTko Group Holdings Inc | September 30, 2023 | +139.5% | $86.4M |
| NWSNews Corp New | June 30, 2020 | +134.8% | $253.2M |
| EBAYEbay Inc. | June 30, 2020 | +113.1% | $508.1M |
| NWSANews Corp New | June 30, 2020 | +109.4% | $796.4M |
| FOXAFox Corp | June 30, 2020 | +94.5% | $438.1M |
| JNJJohnson & Johnson | June 30, 2020 | +80.6% | $772.9M |
| LYVLive Nation Entertainment In | September 30, 2024 | +67.2% | $1.1B |
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +1.0% | +14.8% |
| March 31, 2026 | −8.2% | −4.6% |
| December 31, 2025 | +1.8% | +2.4% |
| September 30, 2025 | +5.4% | +7.8% |
| June 30, 2025 | +6.1% | +10.5% |
| March 31, 2025 | +6.6% | −4.6% |
| December 31, 2024 | +2.3% | +2.1% |
| September 30, 2024 | +14.7% | +5.4% |
| June 30, 2024 | −0.9% | +4.0% |
| March 31, 2024 | +6.4% | +10.0% |
| December 31, 2023 | +6.6% | +11.2% |
| September 30, 2023 | −3.9% | −3.6% |
| June 30, 2023 | +7.4% | +8.3% |
| March 31, 2023 | +8.4% | +7.0% |
| December 31, 2022 | +8.3% | +7.1% |
| September 30, 2022 | −8.1% | −5.3% |
| June 30, 2022 | −15.3% | −16.5% |
| March 31, 2022 | −0.2% | −4.9% |
| December 31, 2021 | +5.0% | +10.7% |
| September 30, 2021 | +0.8% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Independent Franchise Partners LLP Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1483866&type=13F-HR&dateb=&owner=include&count=40CIK 1483866
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1483866/000117266126003379/Filed August 13, 2026 · accession 0001172661-26-003379