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Independent Franchise Partners LLP

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13F filer, CIK 1483866, London, United Kingdom

Independent Franchise Partners LLP reported $14,020,622,461 across 25 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-14. Its ten largest share positions make up 60.81% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-001882

Period
2025-03-31
Reported value
$14B
Holdings
25
Top 10 weight
60.81%
New
1
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
SOLVadded+4,217,570$321M
WMGadded+7,483,839$235M
WBDnew+13,068,375$140M
KVUEadded+5,761,288$138M
LYVadded+1,004,574$131M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
RBAreduced-3,918,122-$393M
PMreduced-2,290,300-$364M
FOXAreduced-3,288,749-$186M
AONreduced-433,751-$173M
ASPEN TECHNOLOGY INCexited-520,184-$130M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001172661-25-001882, largest first. % of portfolio is the value over $14,020,622,461, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ICEINTERCONTINENTAL EXCHANGE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,097,932 shares; 2024Q4: 6,160,836 shares; 2025Q1: 6,192,424 shares 6,192,424$1.07B7.62%+31,588Timeline
BMYBRISTOL-MYERS SQUIBB COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 14,184,350 shares; 2024Q4: 17,129,229 shares; 2025Q1: 17,393,791 shares 17,393,791$1.06B7.57%+264,562Timeline
CTVACORTEVA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,891,670 shares; 2024Q4: 16,496,508 shares; 2025Q1: 16,785,300 shares 16,785,300$1.06B7.53%+288,792Timeline
JNJJOHNSON & JOHNSONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,216,255 shares; 2024Q4: 5,194,471 shares; 2025Q1: 5,302,536 shares 5,302,536$879M6.27%+108,065Timeline
EBAYEBAY INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,900,799 shares; 2024Q4: 11,178,638 shares; 2025Q1: 11,689,267 shares 11,689,267$792M5.65%+510,629Timeline
ZZILLOW GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,734,424 shares; 2024Q4: 10,882,613 shares; 2025Q1: 11,153,697 shares 11,153,697$765M5.45%+271,084Timeline
LYVLIVE NATION ENTERTAINMENT INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,525,776 shares; 2024Q4: 4,693,986 shares; 2025Q1: 5,698,560 shares 5,698,560$744M5.31%+1,004,574Timeline
NWSANEWS CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,805,179 shares; 2024Q4: 26,617,259 shares; 2025Q1: 27,189,590 shares 27,189,590$740M5.28%+572,331Timeline
FOXAFOX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 16,266,915 shares; 2024Q4: 16,177,409 shares; 2025Q1: 12,888,660 shares 12,888,660$729M5.2%-3,288,749Timeline
PMPHILIP MORRIS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,103,397 shares; 2024Q4: 6,643,831 shares; 2025Q1: 4,353,531 shares 4,353,531$691M4.93%-2,290,300Timeline
AONAON PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,971,897 shares; 2024Q4: 2,016,972 shares; 2025Q1: 1,583,221 shares 1,583,221$632M4.51%-433,751Timeline
ORCLORACLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,897,499 shares; 2024Q4: 4,138,455 shares; 2025Q1: 4,198,933 shares 4,198,933$587M4.19%+60,478Timeline
RBARB GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,721,687 shares; 2024Q4: 9,663,962 shares; 2025Q1: 5,745,840 shares 5,745,840$576M4.11%-3,918,122Timeline
EAELECTRONIC ARTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,963,755 shares; 2024Q4: 3,856,935 shares; 2025Q1: 3,945,702 shares 3,945,702$570M4.07%+88,767Timeline
ELLAUDER ESTEE COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,399,779 shares; 2024Q4: 7,858,158 shares; 2025Q1: 7,976,434 shares 7,976,434$526M3.75%+118,276Timeline
TKOTKO GROUP HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,173,720 shares; 2024Q4: 3,409,140 shares; 2025Q1: 3,178,282 shares 3,178,282$486M3.46%-230,858Timeline
SOLVSOLVENTUM CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 781,882 shares; 2024Q4: 1,603,154 shares; 2025Q1: 5,820,724 shares 5,820,724$443M3.16%+4,217,570Timeline
WMGWARNER MUSIC GROUP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,055,271 shares; 2024Q4: 5,895,025 shares; 2025Q1: 13,378,864 shares 13,378,864$419M2.99%+7,483,839Timeline
NWSNEWS CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,021,943 shares; 2024Q4: 9,649,717 shares; 2025Q1: 9,728,572 shares 9,728,572$295M2.11%+78,855Timeline
FOXFOX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,946,512 shares; 2024Q4: 5,706,386 shares; 2025Q1: 5,260,915 shares 5,260,915$277M1.98%-445,471Timeline
KVUEKENVUE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,863,762 shares; 2024Q4: 3,617,749 shares; 2025Q1: 9,379,037 shares 9,379,037$225M1.6%+5,761,288Timeline
TRUTRANSUNIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,710,314 shares; 2024Q4: 2,086,050 shares; 2025Q1: 2,116,568 shares 2,116,568$176M1.25%+30,518Timeline
WBDWARNER BROS DISCOVERY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 13,068,375 shares 13,068,375$140M1%newTimeline
ZGZILLOW GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,041,799 shares; 2024Q4: 2,024,353 shares; 2025Q1: 2,060,399 shares 2,060,399$138M0.98%+36,046Timeline
RTORENTOKIL INITIAL PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 345,595 shares; 2024Q4: 299,149 shares; 2025Q1: 168,001 shares 168,001$3.85M0.03%-131,148Timeline

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
ASPEN TECHNOLOGY INCASPEN TECHNOLOGY INC520,184$130Mshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001172661-25-001882 base2025-05-14acceptance time not in the bulk data set