Independent Franchise Partners
US Equity Fund
Independent Franchise Partners Warner Music Group stake
total: 60
US Equity Fund WMG trades
- Total transactions:
- 8
- New positions:
- 1
- Added:
- 4
- Reduced:
- 3
- Held since:
- 2024 Q2
- Held for:
- 8 quarters
- Latest activity:
- 2026 Q1
According to 2026 Q1 report, Independent Franchise Partners holds 2,118,111 Warner Music Group (WMG) shares with a market value of roughly $54.10M accounting for 3.66% of the overall portfolio. To date, the estimated cost basis is nearly $30.75 for "buy" trades and estimated average "sell" price is $30.98. US Equity Fund first purchased WMG in 2024 Q2, initially acquiring about 2.80M shares. Since the initial investment in Warner Music Group (WMG), US Equity Fund has made 7 more transactions.
When did Independent Franchise Partners buy Warner Music Group (WMG)?
Independent Franchise Partners first invested in Warner Music Group (WMG) in 2024 Q2 at the reported quarter-end price of $30.65 per share.
What's the cost basis of US Equity Fund's WMG stake?
The estimated cost basis for Warner Music Group (WMG) stake is around $30.75 per share. This represents their average reported price* across all buy transactions
Estimated cost basis*
- Weighted AVG buy price:
- $30.75
- Weighted AVG sell price:
- $30.98
Independent Franchise Partners's historical trades in Warner Music Group
8 results
| Period |
% of portfolio |
Shares held after* |
Reported price* |
Value* |
% (shares) of activity |
% change to portfolio |
|---|---|---|---|---|---|---|
|
2026 Q1
|
3.66%
|
2,118,111
|
$25.54
|
$54,096,555
|
+2.43% (+50,231)
|
+0.09%
|
|
2025 Q4
|
4.04%
|
2,067,880
|
$30.67
|
$63,421,880
|
-8.53% (-192,805)
|
-0.36%
|
|
2025 Q3
|
4.70%
|
2,260,685
|
$34.06
|
$76,998,931
|
+5.22% (+112,182)
|
+0.23%
|
|
2025 Q2
|
4.03%
|
2,148,503
|
$27.24
|
$58,525,222
|
+0.13% (+2,849)
|
+0.01%
|
|
2025 Q1
|
4.82%
|
2,145,654
|
$31.35
|
$67,266,253
|
+16.75% (+307,812)
|
+0.69%
|
|
2024 Q4
|
5.18%
|
1,837,842
|
$31.00
|
$56,973,102
|
-31.50% (-845,266)
|
-1.34%
|
|
2024 Q3
|
4.28%
|
2,683,108
|
$31.30
|
$83,981,280
|
-4.26% (-119,469)
|
-0.2%
|
|
2024 Q2
|
4.57%
|
2,802,577
|
$30.65
|
$85,898,985
|
new
|
+4.57%
|
* Shares, change to shares, sold shares, shares held after: split-adjusted.
* Reported price: this doesn't represent the actual buy or sell price. It is the split-adjusted price of the security as of the last day of the reported period.
If the security is completely sold out, we show the reported split-adjusted price prior to the actual period.
If the security is completely sold out, we show the reported split-adjusted price prior to the actual period.
* Estimated cost basis: based on "Reported price*" (not earlier than 2013 Q2). Calculation starts from the latest "new buy" activity to the latest "close out" activity (if any).
* Value or Price: If the security is completely sold out, we show the reported value (or price) prior to the actual period.
* New buy or own: this means there is no earlier reporting (for us or in general). So we can't know if the actual purchase of the security happened at the reported period or earlier.