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IFP

Independent Franchise Partners Portfolio holdings

AUM $14.3B
1-Year Est. Return 3.49%
This Fund
S&P 500
This Quarter Est. Return
+5.09%
1 Year Est. Return
+3.49%
3 Year Est. Return
+55.26%
5 Year Est. Return
+61.47%
10 Year Est. Return
+309.34%
AUM
$10.6B
AUM Growth
-$706M
Cap. Flow
-$1.14B
Cap. Flow %
-10.76%
Top 10 Hldgs %
74.84%
Holding
24
New
1
Increased
5
Reduced
14
Closed
4

Top Buys

Rank Stock Value
1
MO icon
Altria Group
MO
+$454M
2
T icon
AT&T
T
+$379M
3
PM icon
Philip Morris
PM
+$132M
4
JNJ icon
Johnson & Johnson
JNJ
+$50.3M
5
EFX icon
Equifax
EFX
+$23.3M

Top Sells

Rank Stock Value
1
TWX
Time Warner Inc
TWX
+$805M
2
MDLZ icon
Mondelez International
MDLZ
+$366M
3
HOG icon
Harley-Davidson
HOG
+$308M
4
MRK icon
Merck
MRK
+$216M
5
KMB icon
Kimberly-Clark
KMB
+$132M

Sector Composition

Rank Sector Weight
1 Technology 28.86%
2 Consumer Staples 18.49%
3 Communication Services 17.07%
4 Healthcare 12.91%
5 Consumer Discretionary 11.88%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TFCFA
1
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
$1.3B 12.28%
26,081,767
-330,272
-1% -$13M
MSFT icon
2
Microsoft
MSFT
$2.93T
$911M 8.63%
9,242,732
-259,638
-3% -$25.2M
JNJ icon
3
Johnson & Johnson
JNJ
$645B
$827M 7.83%
6,814,390
+403,223
+6% +$50.3M
ACN icon
4
Accenture
ACN
$107B
$764M 7.23%
4,668,486
-477,071
-9% -$74.2M
ORCL icon
5
Oracle
ORCL
$339B
$721M 6.83%
16,362,499
-346,336
-2% -$16M
TAP icon
6
Molson Coors Class B
TAP
$8.06B
$710M 6.72%
10,432,823
-87,181
-0.8% -$5.81M
MO icon
7
Altria Group
MO
$126B
$708M 6.71%
12,473,298
+7,869,013
+171% +$454M
EBAY icon
8
eBay
EBAY
$51.4B
$686M 6.5%
18,911,117
-96,132
-0.5% -$3.74M
AAPL icon
9
Apple
AAPL
$4.99T
$651M 6.17%
14,071,220
-380,776
-3% -$17.3M
SPGI icon
10
S&P Global
SPGI
$124B
$627M 5.94%
3,074,725
-141,115
-4% -$27.9M
CMG icon
11
Chipotle Mexican Grill
CMG
$43.7B
$569M 5.39%
65,943,900
-15,500,150
-19% -$127M
PM icon
12
Philip Morris
PM
$313B
$534M 5.06%
6,612,505
+1,556,687
+31% +$132M
EFX icon
13
Equifax
EFX
$22.1B
$511M 4.84%
4,087,963
+196,372
+5% +$23.3M
T icon
14
AT&T
T
$168B
$366M 3.47%
+15,089,106
New +$379M
MRK icon
15
Merck
MRK
$324B
$308M 2.91%
5,310,888
-3,822,265
-42% -$216M
NWSA icon
16
News Corp Class A
NWSA
$15.6B
$107M 1.02%
6,917,532
-649,475
-9% -$10.3M
ZTS icon
17
Zoetis
ZTS
$33B
$95M 0.9%
1,114,676
-141,969
-11% -$12M
ABT icon
18
Abbott
ABT
$191B
$83.6M 0.79%
1,370,369
-174,538
-11% -$10.6M
XRAY icon
19
Dentsply Sirona
XRAY
$2.76B
$49.5M 0.47%
1,130,052
-127,055
-10% -$5.97M
NWS icon
20
News Corp Class B
NWS
$17.6B
$33.2M 0.31%
2,095,867
+43,101
+2% +$693K
HOG icon
21
Harley-Davidson
HOG
$2.58B
– –
-7,176,724
Closed -$308M
KMB icon
22
Kimberly-Clark
KMB
$37.4B
– –
-1,200,337
Closed -$132M
MDLZ icon
23
Mondelez International
MDLZ
$83.8B
– –
-8,763,293
Closed -$366M
TWX
24
DELISTED
Time Warner Inc
TWX
– –
-8,512,335
Closed -$805M

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Independent Franchise Partners's Q2 2018 Portfolio in Review

As of Q2 2018, Independent Franchise Partners held 24 positions worth $10.6B, down 6.3% from $11.3B the previous quarter. Its ten largest holdings account for 75% of the portfolio.

Independent Franchise Partners withdrew a net $1.14B in Q2 2018, closing 4 positions and reducing 14 holdings. Its most notable exit was Time Warner Inc, an estimated $805M position sold in full.

By sector, the portfolio is most concentrated in Technology at 29% of assets, up from 27% a quarter earlier, followed by Consumer Staples and Communication Services.

Against the trend, Independent Franchise Partners opened a new position in AT&T worth $366M.

  • Independent Franchise Partners's largest Q2 2018 buy was AT&T: 15,089,106 shares worth $366M.
  • Independent Franchise Partners added most to Altria Group in Q2 2018, an estimated $454M increase.
  • Independent Franchise Partners's biggest Q2 2018 reduction was Merck, cutting an estimated $216M.
  • Independent Franchise Partners fully exited Time Warner Inc in Q2 2018, selling an estimated $805M.
  • Independent Franchise Partners's ten largest holdings make up 75% of its $10.6B portfolio in Q2 2018.
  • Independent Franchise Partners opened 1 new position and closed 4 in Q2 2018.
  • Independent Franchise Partners's portfolio value fell 6.3% quarter-over-quarter to $10.6B.

Based on Independent Franchise Partners's 13F filing for Q2 2018, filed 14 Aug 2018.