SEC 13F Intelligence

Managers / Q4 2020 · view latest →

Independent Franchise Partners LLP

CIK 0001483866 · LEVEL 1, 10 PORTMAN SQUARE, LONDON, X0, W1H6AZ · 442074959070

Reported Value
$11.6B
Q4 2020
Positions
25
Filings on Record
30
2019–present window
Filed
Feb 16, 2021
original filing

Summary

Independent Franchise Partners LLP reported $11.6B in U.S.-listed holdings across 25 positions for Q4 2020.

Its largest position, CTVA, represents 7.0% of the portfolio.

Compared with Q3 2020, the fund opened 2 new positions and exited 2.

Portfolio Metrics

Turnover
+3.7%
vs prior filed quarter
Top-10 Concentration
+58.4%
share of reported value
Largest Position
+7.0%
Corteva
New / Exited
2 / 2
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $8.1BQ4 ’18Q1 ’19: $8.9BQ2 ’19: $9.7BQ3 ’19: $9.8BQ4 ’19: $10.0BQ4 ’19Q1 ’20: $8.1BQ2 ’20: $9.8BQ3 ’20: $10.1BQ4 ’20: $11.6BQ4 ’20Q1 ’21: $12.6BQ2 ’21: $13.4BQ3 ’21: $12.7BQ4 ’21: $12.7BQ4 ’21Q1 ’22: $12.7BQ2 ’22: $10.6BQ3 ’22: $9.5BQ4 ’22: $10.2BQ4 ’22Q1 ’23: $11.1BQ2 ’23: $11.9BQ3 ’23: $11.5BQ4 ’23: $11.8BQ4 ’23Q1 ’24: $12.1BQ2 ’24: $10.9BQ3 ’24: $11.3BQ4 ’24: $13.3BQ4 ’24Q1 ’25: $14.0BQ2 ’25: $15.0BQ3 ’25: $15.2BQ4 ’25: $15.7BQ4 ’25Q1 ’26: $14.3Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 89.7%Other: 10.3%
  • Common Stock · 89.7% · $10.4B
  • Other · 10.3% · $1.2B

Quarter-over-Quarter Changes full breakdown →

vs Q3 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CMECME GROUP INCNEW+1.92M1.92M+$350M$350M
TERMINIX GLOBAL HOLDINGS INCNEW+2.02M2.02M+$103M$103M
SERVUSDSERVICEMASTER GLOBAL HLDGS ISOLD OUT−2.01M0−$80M$0
EFXEQUIFAX INCSOLD OUT−191.4K0−$30M$0
SPGIS&P GLOBAL INCTRIMMED−428.7K620.2K−$174M$204M
AAPLAPPLE INCTRIMMED−1.38M2.76M−$113M$366M
EBAEBAY INC.ADDED+1.80M8.21M+$78M$412M
AON PLCADDED+648.4K3.34M+$150M$705M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2020

24 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CTVACORTEVA INChistory →COM7.00%$814M21.03M
2NWSANEWS CORP NEWCL A · CL B6.60%$768M42.88M
3ORCLORACLE CORPhistory →COM6.54%$761M11.76M
44I1PHILIP MORRIS INTL INChistory →COM6.44%$749M9.05M
5FOXAFOX CORPhistory →CL A COM6.36%$741M25.43M
6AON PLCSHS CL A6.06%$705M3.34M
7BKNGBOOKING HOLDINGS INChistory →COM5.86%$683M306.5K
8BMYBRISTOL-MYERS SQUIBB COhistory →COM5.19%$604M9.74M
9JNJJOHNSON & JOHNSONhistory →COM5.15%$599M3.81M
10MSFTMICROSOFT CORPhistory →COM5.00%$582M2.62M
11IBMINTERNATIONAL BUSINESS MACHShistory →COM4.81%$560M4.45M
12EAELECTRONIC ARTS INChistory →COM4.38%$510M3.55M
13ACCENTURE PLC IRELANDSHS CLASS A4.28%$498M1.91M
14W3UWESTERN UN COhistory →COM3.74%$436M19.85M
15GOOGLALPHABET INChistory →CAP STK CL A3.61%$421M239.9K
16EBAEBAY INC.history →COM3.54%$412M8.21M
17MOALTRIA GROUP INChistory →COM3.16%$368M8.97M
18AAPLAPPLE INChistory →COM3.14%$366M2.76M
19CMECME GROUP INChistory →COM3.01%$350M1.92M
20SPGIS&P GLOBAL INChistory →COM1.75%$204M620.2K
21ADSKAUTODESK INChistory →COM1.63%$189M620.3K
22WWEUSDWORLD WRESTLING ENTMT INChistory →CL A0.99%$115M2.40M
23TERMINIX GLOBAL HOLDINGS INCCOM0.88%$103M2.02M
24IAA-WUSDIAA INChistory →COM0.87%$101M1.55M

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$14.3B26May 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$15.7B27Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$15.2B29Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$15.0B25Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$14.0B25May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$13.3B25Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$11.3B25Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$10.9B24Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$12.1B23May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$11.8B25Feb 13, 202413F-HRchanges · EDGAR ↗
Q3 2023$11.5B24Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$11.9B24Aug 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$11.1B23May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$10.2B24Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$9.5B25Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$10.6B26Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$12.7B26May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$12.7B26Feb 11, 202213F-HRchanges · EDGAR ↗
Q3 2021$12.7B25Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$13.4B24Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$12.6B24May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$11.6B25Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$10.1B25Nov 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$9.8B25Aug 13, 202013F-HRchanges · EDGAR ↗
Q1 2020$8.1B26May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$10.0B22Feb 13, 202013F-HRchanges · EDGAR ↗
Q3 2019$9.8B22Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$9.7B20Aug 13, 201913F-HRchanges · EDGAR ↗
Q1 2019$8.9B22May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$8.1B18Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.