Independent Franchise Partners
US Equity Fund
US Equity Fund Portfolio 13F
Independent Franchise Partners Holdings Activity
- Portfolio value:
- $1.48B≈ (-$90M≈)
- Previous value:
- $1.57B≈
- # of changes:
- 33
- New positions:
- 0
- Reported for:
- 31 Mar 2026 (Q1)
- Latest filing date:
- 29 May 2026
US Equity Fund has disclosed a total of 33 changes to the portfolio in the latest (2026 Q1) SEC report(s): increased the number of shares of 24, decreased the number of shares of 7 and completely sold out 2 position(s).
What stocks is Independent Franchise Partners buying now?
In the recent quarter Independent Franchise Partners has bought 24 securities out of which top 5 purchases (by % change to portfolio) are (BMY) Bristol-Myers Squibb Company (added shares +2.43%), (AON) Aon PLC (added shares +29.22%), (SOLV) Solventum Corp (added shares +2.43%), (LYV) Live Nation Entertainment Inc (added shares +2.60%) and (KVUE) Kenvue Inc (added shares +2.43%).
What does Independent Franchise Partners invest in?
In the latest report(s) the following changes have been made to the top investments: (BMY) Bristol-Myers Squibb Company (added shares +2.43%), (WBD) Warner Bros Discovery Inc (reduced shares -25.55%), (AON) Aon PLC (added shares +29.22%), (SOLV) Solventum Corp (added shares +2.43%) and (LYV) Live Nation Entertainment Inc (added shares +2.60%).
33 results
| History | Ticker | Name |
% or activity |
Shares change |
Shares held after* |
% change to portfolio |
Reported price* |
% difference current price* |
% of portfolio |
Held since* | Held for* |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
UNIVERSAL MUSIC GROUP NV
|
+516.94%
|
+2,068,524
|
2,468,671
|
+2.71%
|
$19.39
|
-12.74%($16.92)
|
3.24%
|
2025 Q4
|
≈ 0.50 years
|
|
|
|
Nintendo Co Ltd
|
+104.48%
|
+310,900
|
608,470
|
+1.2%
|
$57.06
|
-15.65%($48.13)
|
2.35%
|
2019 Q3
|
≈ 6.75 years
|
|
|
|
Salesforce.com Inc
|
+53.08%
|
+93,077
|
268,445
|
+1.18%
|
$186.67
|
-1.98%($182.97)
|
3.39%
|
2025 Q4
|
≈ 0.50 years
|
|
|
|
Ryan Specialty Group Holdings Inc
|
+45.00%
|
+310,390
|
1,000,169
|
+0.71%
|
$33.74
|
+32.78%($44.80)
|
2.28%
|
2025 Q3
|
≈ 0.75 years
|
|
|
|
TransUnion
|
+44.60%
|
+258,555
|
838,269
|
+1.21%
|
$69.19
|
+14.03%($78.90)
|
3.92%
|
2022 Q1
|
≈ 4.25 years
|
|
|
|
Gartner Inc
|
+42.11%
|
+87,049
|
293,766
|
+0.93%
|
$158.34
|
-4.62%($151.02)
|
3.15%
|
2025 Q3
|
≈ 0.75 years
|
|
|
|
Aon PLC
|
+29.22%
|
+48,323
|
213,696
|
+1.05%
|
$322.78
|
+12.65%($363.60)
|
4.67%
|
2020 Q3
|
≈ 5.75 years
|
|
|
|
Zillow Group Inc
|
+18.55%
|
+186,561
|
1,192,110
|
+0.52%
|
$41.38
|
-16.39%($34.60)
|
3.34%
|
2021 Q4
|
≈ 4.50 years
|
|
|
|
News Corp A
|
+2.67%
|
+57,013
|
2,191,107
|
+0.1%
|
$24.93
|
+11.19%($27.72)
|
3.69%
|
2019 Q3
|
≈ 6.75 years
|
|
|
|
Live Nation Entertainment Inc
|
+2.60%
|
+10,617
|
418,791
|
+0.11%
|
$152.51
|
+14.11%($174.04)
|
4.32%
|
2024 Q3
|
≈ 1.75 years
|
|
* 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.
* Current price: this can be a delayed price and may not reflect the real-time market value, however it is too close.
* Value or Price: If the security is completely sold out, we show the reported value (or price) prior to the actual period.
* Held since / Held for: calculated since the latest "new buy" position. If the security was previously exited and re-entered, only the most recent holding period is counted.