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Immersion Capital LLP

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13F filer, CIK 1636441, LONDON, United Kingdom

Immersion Capital LLP reported $69,118,655 across 10 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001636441-26-000001

Period
2025-12-31
Reported value
$69.1M
Holdings
10
Top 10 weight
100%
New
0
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ELVadded+4,300$1.51M
UNHadded+2,940$971K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
RYAAYreduced-124,800-$9.01M
HDBexited-166,410-$5.68M
BLKreduced-4,910-$5.26M
Vreduced-14,240-$4.99M
HEI-Areduced-18,840-$4.76M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001636441-26-000001, largest first. % of portfolio is the value over $69,118,655, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
BLKBLACKROCK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: 29,281 shares; 2025Q1: 29,281 shares; 2025Q2: 17,543 shares; 2025Q3: 17,543 shares; 2025Q4: 12,633 shares 12,633$13.5M19.56%-4,910Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: 50,900 shares; 2024Q3: 89,200 shares; 2024Q4: 65,200 shares; 2025Q1: 65,200 shares; 2025Q2: 50,911 shares; 2025Q3: 50,911 shares; 2025Q4: 36,671 shares 36,671$12.9M18.61%-14,240Timeline
HEI-AHEICO CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 50,882 shares; 2025Q2: 67,406 shares; 2025Q3: 67,406 shares; 2025Q4: 48,566 shares 48,566$12.3M17.74%-18,840Timeline
RYAAYRYANAIR HOLDINGS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: 309,601 shares; 2024Q3: 879,752 shares; 2024Q4: 642,252 shares; 2025Q1: 642,252 shares; 2025Q2: 374,242 shares; 2025Q3: 280,742 shares; 2025Q4: 155,942 shares 155,942$11.3M16.29%-124,800Timeline
ELVELEVANCE HEALTH INC FORMERLYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 10,100 shares; 2025Q4: 14,400 shares 14,400$5.05M7.3%+4,300Timeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 9,400 shares; 2025Q4: 12,340 shares 12,340$4.07M5.89%+2,940Timeline
CNICANADIAN NATL RY COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: 108,034 shares; 2024Q3: 122,234 shares; 2024Q4: 89,234 shares; 2025Q1: 89,234 shares; 2025Q2: 53,634 shares; 2025Q3: 53,634 shares; 2025Q4: 38,634 shares 38,634$3.82M5.53%-15,000Timeline
BPBP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: 224,076 shares; 2024Q3: 224,076 shares; 2024Q4: 163,576 shares; 2025Q1: 163,576 shares; 2025Q2: 98,176 shares; 2025Q3: 98,176 shares; 2025Q4: 70,776 shares 70,776$2.46M3.56%-27,400Timeline
CNQCANADIAN NAT RES LTD MED TERQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: 195,774 shares; 2024Q3: 195,774 shares; 2024Q4: 142,974 shares; 2025Q1: 142,974 shares; 2025Q2: 85,874 shares; 2025Q3: 85,874 shares; 2025Q4: 61,874 shares 61,874$2.09M3.03%-24,000Timeline
TBBBBBB FOODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 16,500 shares; 2025Q2: 28,000 shares; 2025Q3: 71,800 shares; 2025Q4: 51,700 shares 51,700$1.73M2.5%-20,100Timeline

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
HDBHDFC BANK LTD166,410$5.68Mshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001636441-26-000001 base2026-02-17acceptance time not in the bulk data set