Independent Franchise Partners LLP

CIK 0001483866 · Q1 2026

13F Equity AUM

$14.3B

-9.1% QoQ

Positions

-1 QoQ

AUM Rank

#516

Top 4%

Skill Alpha (FF)

+4.5%/yr

Alpha Generator

Rank #671 · Top 8%

vs S&P +1.2%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 34.3%Top 10: 61.4%Top 20: 95.0%

BMY9.0%

SOLV7.2%

LYV6.3%

KVUE5.9%

TRU5.9%

AON5.8%

ICE5.5%

NWSA5.4%

CRM5.3%

IT5.1%

Others (16)38.6%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Communication Services28.1%

Healthcare21.3%

Financial Services12.0%

Technology10.4%

Consumer Defensive9.3%

Industrials6.4%

Consumer Cyclical4.7%

Consumer Discretionary4.3%

Other3.7%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 26Median: 4.07%Avg: 3.85%

0–0.5%

0(0.0%)

0.5–1%

5(3.3%)

1–3%

5(10.8%)

3–5%

5(19.5%)

5%+

11(66.4%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 26Unique: 0vs 20 funds

0.4%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

BlackRock, Inc.

0.7%

VANGUARD CAPITAL MANAGEMENT LLC

0.8%

STATE STREET CORP

0.8%

VANGUARD PORTFOLIO MANAGEMENT LLC

0.9%

FMR LLC

0.9%

MORGAN STANLEY

0.5%

GEODE CAPITAL MANAGEMENT, LLC

0.8%

JPMORGAN CHASE & CO

0.5%

BANK OF AMERICA CORP /DE/

0.6%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New0Increased15Decreased11Exited1

Increased

CRM5.3%

+3.5M(+650%)

TRU5.9%

+3.0M(+33%)

Z3.8%

+2.2M(+20%)

IT5.1%

+1.3M(+39%)

KVUE5.9%

+1.1M(+2%)

NWSA5.4%

+991K(+3%)

ZG0.8%

+714K(+35%)

RYAN0.7%

+706K(+33%)

AON5.8%

+472K(+22%)

BMY9.0%

+447K(+2%)

Decreased

CTVA0.7%

-9,306,492(-89%)

WBD1.7%

-3,999,444(-32%)

FOXA3.3%

-1,602,825(-16%)

4I13.0%

-1,263,162(-33%)

EL3.3%

-1,208,709(-15%)

EBA4.3%

-975,945(-13%)

JNJ5.1%

-684,893(-19%)

WMG2.3%

-61,951(-0%)

OTIS0.5%

-61,865(-6%)

NWS1.8%

-49,695(-1%)

Exited

RBA

-1,151,798

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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