Independent Franchise Partners (Hassan Elmasry) latest 13F portfolio: 26 holdings worth $15.2B as of Q2 2026.
Backtested since 2020: mirroring Independent Franchise Partners's reported 13F equity holdings each quarter would have returned +185.9% versus +195.4%for the S&P 500 (+18.0% annualized). See the Performance tab for the full equity curve.
Investor: Hassan Elmasry
Number of Assets: 26
Reporting Period: Q2 - 2026
Holdings at Report: $15,242,398,239
Return $ Since Report: +$1,508,086,208
Return % Since Report: +9.89%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Aon PLC (AON) | Equity | +2.28% | 2,646,943 | 5.76% | $331.69 | $285.82 | $877,964,523 | $756,536,014 | -$121,428,509 | -13.83% |
| Philip Morris International Inc. (PM) | Equity | +0.69% | 2,578,328 | 3.06% | $180.91 | $190.45 | $466,445,318 | $491,042,568 | +$24,597,250 | +5.27% |
| Airbnb Inc. (ABNB) | Equity | +2.81% | 5,423,764 | 5.09% | $143.10 | $162.47 | $776,140,628 | $881,171,818 | +$105,031,190 | +13.53% |
| News Corp. (NWSA) | Equity | +3.72% | 32,074,535 | 5.22% | $24.83 | $29.16 | $796,410,704 | $935,133,068 | +$138,722,364 | +17.42% |
| Otis Worldwide Corp. (OTIS) | Equity | +414.04% | 5,152,104 | 2.42% | $71.60 | $67.51 | $368,890,646 | $347,818,541 | -$21,072,105 | -5.71% |
| Ryan Specialty Holdings Inc. (RYAN) | Equity | -6.21% | 2,645,789 | 0.66% | $37.76 | $38.13 | $99,904,992 | $100,883,935 | +$978,943 | +0.98% |
| Bristol-Myers Squibb Company (BMY) | Equity | +2.43% | 21,792,841 | 8.24% | $57.62 | $62.64 | $1,255,703,498 | $1,365,103,560 | +$109,400,062 | +8.71% |
| Ebay Inc. (EBAY) | Equity | -32.86% | 4,546,653 | 3.33% | $111.75 | $109.02 | $508,088,472 | $495,676,110 | -$12,412,362 | -2.44% |
| Intercontinental Exchange Inc. (ICE) | Equity | +6.01% | 5,253,130 | 4.24% | $123.11 | $153.25 | $646,712,834 | $805,042,173 | +$158,329,339 | +24.48% |
| Kenvue Inc. (KVUE) | Equity | +2.48% | 50,427,994 | 6.32% | $19.11 | $17.89 | $963,678,965 | $902,156,813 | -$61,522,152 | -6.38% |
| Solventum Corp. (SOLV) | Equity | +2.77% | 16,170,038 | 8.18% | $77.15 | $88.99 | $1,247,518,431 | $1,438,890,831 | +$191,372,400 | +15.34% |
| Transunion (TRU) | Equity | +15.21% | 13,976,652 | 6.61% | $72.14 | $71.79 | $1,008,275,675 | $1,003,313,964 | -$4,961,711 | -0.49% |
| Corteva Inc. (CTVA) | Equity | -6.21% | 1,115,112 | 0.62% | $84.69 | $81.00 | $94,438,835 | $90,318,496 | -$4,120,339 | -4.36% |
| Fox Corp. (FOXA) | Equity | +2.74% | 8,398,658 | 2.87% | $52.16 | $64.41 | $438,074,001 | $540,957,562 | +$102,883,561 | +23.49% |
| Gartner Inc. (IT) | Equity | +21.35% | 5,582,962 | 4.75% | $129.62 | $180.71 | $723,663,534 | $1,008,897,063 | +$285,233,529 | +39.42% |
| Johnson & Johnson (JNJ) | Equity | +2.41% | 3,043,186 | 5.07% | $253.97 | $268.36 | $772,877,948 | $816,669,395 | +$43,791,447 | +5.67% |
| The Estée Lauder Companies Inc. (EL) | Equity | -25.45% | 4,941,737 | 2.56% | $78.95 | $98.97 | $390,150,136 | $489,083,711 | +$98,933,575 | +25.36% |
| Zillow Group Inc. (Z) | Equity | +23.51% | 16,300,754 | 3.37% | $31.52 | $30.60 | $513,799,766 | $498,721,569 | -$15,078,197 | -2.93% |
| Fox Corp. (FOX) | Equity | +3.29% | 5,482,675 | 1.68% | $46.84 | $57.44 | $256,808,497 | $314,924,852 | +$58,116,355 | +22.63% |
| Live Nation Entertainment Inc. (LYV) | Equity | +2.54% | 6,013,439 | 7.22% | $183.11 | $170.44 | $1,101,120,815 | $1,024,930,543 | -$76,190,272 | -6.92% |
| News Corp. (NWS) | Equity | -0.96% | 9,023,857 | 1.66% | $28.06 | $32.31 | $253,209,427 | $291,560,820 | +$38,351,393 | +15.15% |
| Zillow Group Inc. (ZG) | Equity | +34.12% | 3,672,937 | 0.76% | $31.37 | $31.09 | $115,220,033 | $114,173,247 | -$1,046,786 | -0.91% |
| Salesforce Inc. (CRM) | Equity | +44.21% | 5,818,837 | 5.98% | $156.66 | $231.81 | $911,579,004 | $1,348,835,511 | +$437,256,507 | +47.97% |
| Tko Group Holdings Inc. (TKO) | Equity | -6.23% | 429,092 | 0.57% | $201.31 | $189.17 | $86,380,510 | $81,171,334 | -$5,209,176 | -6.03% |
| Warner Bros. Discovery Inc. (WBD) | Equity | -6.21% | 8,157,933 | 1.43% | $26.66 | $30.81 | $217,490,493 | $251,305,126 | +$33,814,633 | +15.55% |
| Warner Music Group Corp. (WMG) | Equity | -0.28% | 12,997,804 | 2.31% | $27.07 | $27.40 | $351,850,554 | $356,165,825 | +$4,315,271 | +1.23% |