Institutional Manager · CIK 0001636441
Immersion Capital LLP
LONDON, X0 · File #028-17127
Latest AUM
$69.1M
Positions
10
Top-10 Concentration
100.0%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| REDUCE | RYANAIR HOLDINGS PLC | RYAOF | -124,800 | -$9.0M | +$3.4M |
| EXITED | HDFC BANK LTD | 40415F101 | -166,410 | -$5.7M | $0 |
| REDUCE | BLACKROCK INC | BLK | -4,910 | -$5.3M | -$1.7M |
| REDUCE | VISA INC | V | -14,240 | -$5.0M | +$474,999 |
| REDUCE | HEICO CORP NEW | HEI-A | -18,840 | -$4.8M | -$111,895 |
| ADD | ELEVANCE HEALTH INC FORMERLY | ELV | +4,300 | +$1.5M | +$277,043 |
| REDUCE | CANADIAN NATL RY CO | 136375102 | -15,000 | -$1.5M | +$244,035 |
| ADD | UNITEDHEALTH GROUP INC | UNH | +2,940 | +$970,523 | -$142,786 |
| REDUCE | BP PLC | BPPFF | -27,400 | -$951,602 | +$26,507 |
| REDUCE | CANADIAN NAT RES LTD | 136385101 | -24,000 | -$812,400 | +$162,302 |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202510 pos · $69.1M
- 13F HOLDINGS REPORTQ/E Sep 202511 pos · $97.2M
- 13F HOLDINGS REPORTQ/E Jun 202510 pos · $99.4M
- 13F HOLDINGS REPORTQ/E Mar 202510 pos · $145.8M
- 13F HOLDINGS REPORTQ/E Dec 20247 pos · $119.5M
- 13F HOLDINGS REPORTQ/E Sep 20249 pos · $183.4M
- 13F HOLDINGS REPORTQ/E Jun 20249 pos · $178.6M
- 13F HOLDINGS REPORTQ/E Mar 20249 pos · $252.4M
- 13F HOLDINGS REPORTQ/E Dec 20237 pos · $233.2M
Top 10 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | BLACKROCK INC | BLK | 12,633 | $13.5M | 19.56% |
| 2 | VISA INC | V | 36,671 | $12.9M | 18.61% |
| 3 | HEICO CORP NEW | HEI-A | 48,566 | $12.3M | 17.74% |
| 4 | RYANAIR HOLDINGS PLC | RYAOF | 155,942 | $11.3M | 16.29% |
| 5 | ELEVANCE HEALTH INC FORMERLY | ELV | 14,400 | $5.0M | 7.30% |
| 6 | UNITEDHEALTH GROUP INC | UNH | 12,340 | $4.1M | 5.89% |
| 7 | CANADIAN NATL RY CO | 136375102 | 38,634 | $3.8M | 5.53% |
| 8 | BP PLC | BPPFF | 70,776 | $2.5M | 3.56% |
| 9 | CANADIAN NAT RES LTD | 136385101 | 61,874 | $2.1M | 3.03% |
| 10 | BBB FOODS INC | TBBB | 51,700 | $1.7M | 2.50% |