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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
+15.4%
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
$11.3B
AUM Growth
+$477M
Cap. Flow
-$1.02B
Cap. Flow %
-8.99%
Top 10 Hldgs %
64.08%
Holding
28
New
4
Increased
3
Reduced
18
Closed
3

Top Buys

Rank Stock Value
1
EL icon
Estee Lauder
EL
+$183M
2
LYV icon
Live Nation Entertainment
LYV
+$148M
3
KVUE icon
Kenvue
KVUE
+$80.1M
4
JNJ icon
Johnson & Johnson
JNJ
+$56.4M
5
SOLV icon
Solventum
SOLV
+$47M

Top Sells

Rank Stock Value
1
BKNG icon
Booking.com
BKNG
+$419M
2
ORCL icon
Oracle
ORCL
+$214M
3
TRU icon
TransUnion
TRU
+$153M
4
AON icon
Aon
AON
+$143M
5
RVTY icon
Revvity
RVTY
+$112M

Sector Composition

Rank Sector Weight
1 Communication Services 34.65%
2 Financials 14.82%
3 Healthcare 12.98%
4 Consumer Staples 12.07%
5 Industrials 7.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RBA icon
1
RB Global
RBA
$20.8B
$863M 7.61%
10,721,687
-1,048,380
-9% -$85.1M
ICE icon
2
Intercontinental Exchange
ICE
$86.1B
$819M 7.22%
5,097,932
-539,079
-10% -$83.1M
Z icon
3
Zillow
Z
$7.86B
$749M 6.61%
11,734,424
-287,826
-2% -$15.5M
PM icon
4
Philip Morris
PM
$297B
$741M 6.54%
6,103,397
-598,755
-9% -$69.6M
BMY icon
5
Bristol-Myers Squibb
BMY
$132B
$734M 6.47%
14,184,350
-416,271
-3% -$19.5M
FOXA icon
6
Fox Class A
FOXA
$24.9B
$689M 6.07%
16,266,915
-2,229,039
-12% -$86.5M
JNJ icon
7
Johnson & Johnson
JNJ
$607B
$683M 6.03%
4,216,255
+354,175
+9% +$56.4M
AON icon
8
Aon
AON
$76.4B
$682M 6.02%
1,971,897
-437,633
-18% -$143M
ORCL icon
9
Oracle
ORCL
$393B
$664M 5.86%
3,897,499
-1,477,224
-27% -$214M
CTVA icon
10
Corteva
CTVA
$52.4B
$640M 5.65%
10,891,670
-226,454
-2% -$12.4M
NWSA icon
11
News Corp Class A
NWSA
$15.1B
$634M 5.59%
23,805,179
-501,421
-2% -$13.6M
EBAY icon
12
eBay
EBAY
$49B
$580M 5.11%
8,900,799
-381,785
-4% -$22M
EA icon
13
Electronic Arts
EA
$53B
$569M 5.01%
3,963,755
-88,558
-2% -$12.8M
EL icon
14
Estee Lauder
EL
$30.9B
$538M 4.75%
5,399,779
+1,933,731
+56% +$183M
TKO icon
15
TKO Group
TKO
$14B
$393M 3.46%
3,173,720
-349,022
-10% -$39.9M
NWS icon
16
News Corp Class B
NWS
$17.2B
$252M 2.22%
9,021,943
-277,221
-3% -$7.82M
FOX icon
17
Fox Class B
FOX
$22.2B
$192M 1.69%
4,946,512
-77,318
-2% -$2.79M
TRU icon
18
TransUnion
TRU
$15.4B
$179M 1.58%
1,710,314
-1,699,782
-50% -$153M
LYV icon
19
Live Nation Entertainment
LYV
$41.9B
$167M 1.47%
+1,525,776
New +$148M
WMG icon
20
Warner Music
WMG
$13.4B
$158M 1.4%
5,055,271
-170,063
-3% -$5.04M
AZPN
21
DELISTED
Aspen Technology Inc
AZPN
$133M 1.17%
555,558
+56,395
+11% +$11.9M
ZG icon
22
Zillow
ZG
$8B
$126M 1.12%
2,041,799
-49,743
-2% -$2.59M
KVUE icon
23
Kenvue
KVUE
$37.3B
$89.4M 0.79%
+3,863,762
New +$80.1M
SOLV icon
24
Solventum
SOLV
$15.1B
$54.5M 0.48%
+781,882
New +$47M
RTO icon
25
Rentokil
RTO
$12B
$8.62M 0.08%
+345,595
New +$10.2M
1
2

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Independent Franchise Partners's Q3 2024 Portfolio in Review

As of Q3 2024, Independent Franchise Partners held 28 positions worth $11.3B, up 4.4% from $10.9B the previous quarter. Its ten largest holdings account for 64% of the portfolio.

Independent Franchise Partners withdrew a net $1.02B in Q3 2024, closing 3 positions and reducing 18 holdings. Its most notable exit was Booking.com, an estimated $419M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 35% of assets, up from 32% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Independent Franchise Partners opened a new position in Live Nation Entertainment worth $167M.

  • Independent Franchise Partners's largest Q3 2024 buy was Live Nation Entertainment: 1,525,776 shares worth $167M.
  • Independent Franchise Partners added most to Estee Lauder in Q3 2024, an estimated $183M increase.
  • Independent Franchise Partners's biggest Q3 2024 reduction was Oracle, cutting an estimated $214M.
  • Independent Franchise Partners fully exited Booking.com in Q3 2024, selling an estimated $419M.
  • Independent Franchise Partners's ten largest holdings make up 64% of its $11.3B portfolio in Q3 2024.
  • Independent Franchise Partners opened 4 new positions and closed 3 in Q3 2024.
  • Independent Franchise Partners's portfolio value rose 4.4% quarter-over-quarter to $11.3B.

Based on Independent Franchise Partners's 13F filing for Q3 2024, filed 13 Nov 2024.