Data as of Q4 2025 (Dec 31, 2025)

Immersion Capital LLP

•CIK: 1636441•Filing: Q4 2025

**Immersion Capital LLP** manages $69M across a concentrated portfolio of 10 positions. The fund exhibits significant exposure to financial and industrial sectors, with top holdings including BLK at $13.5M and V at $12.9M. Further notable allocations include HEI/A ($12.3M) and RYAAY ($11.3M). This structure suggests a tactical, high-conviction approach targeting value opportunities within established market segments.

Total AUM
$69.1M
QoQ Performance
-28.9%
Positions
10
Top 10 Concentration
100.0%
Latest Filing
Q4 2025

Top Holdings Allocation

BLK
V
HEI/A
RYAAY
ELV
UNH
CNR
BLK19.6%
V18.6%
HEI/A17.7%
RYAAY16.3%
ELV7.3%
UNH5.9%
CNR5.5%
BP3.6%

📈 Biggest Buys

ELV
ELEVANCE HEALTH INC FORMERLY
+42.6%
7.3% of portfolio
UNH
UNITEDHEALTH GROUP INC
+31.3%
5.9% of portfolio

📉 Biggest Sells

RYAAY
RYANAIR HOLDINGS PLC
-44.5%
16.3% of portfolio
BLK
BLACKROCK INC
-28.0%
19.6% of portfolio
V
VISA INC
-28.0%
18.6% of portfolio
HEI/A
HEICO CORP NEW
-28.0%
17.7% of portfolio
CNR
CANADIAN NATL RY CO
-28.0%
5.5% of portfolio

Sector Breakdown

Other55.9%
Financial38.2%
Healthcare5.9%

🚪 Exited Positionssold since Q3 2025

HDB
HDFC BANK LTD
SOLD
$5.7M

Changes from Q3 2025

↑2 increased
↓8 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023

📌 Top Holdings

BLK19.6%
BLACKROCK INC
$13.5M
V18.6%
VISA INC
$12.9M
HEI/A17.7%
HEICO CORP NEW
$12.3M
RYAAY16.3%
RYANAIR HOLDINGS PLC
$11.3M
ELV7.3%
ELEVANCE HEALTH INC FORMERLY
$5.0M

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