Immersion Capital LLP

All Holdings — 2025 Q4

AI Portfolio Summary
In 2025 Q4, Immersion Capital LLP maintained a portfolio of 11 distinct positions. They heavily accumulated shares in ELEVANCE HEALTH INC , increasing their position by 42.6%. Conversely, Immersion Capital LLP completely exited their position in HDFC BANK LTD.
PCA Score Concentration Risk
Risk ENB
Total Positions
11
Quarter
2025 Q4
Top Holding
BLK (19.6%)
Top 10 Concentration
100.0%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
1-11 of 11
Stock History Sector / Type Port % Prev % Rank / Prev Conviction Change % Change Influence Shares Mkt Value Avg Cost Price Held 1st Owned Source Source Date Date Reported
BLK
BLACKROCK INC
Financial Services 19.56% 21.05% #1
Prev: #1
7.9 -4,910 -28.0%
P
S
12,633 $13,521,605 2022 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
V
VISA INC
Financial Services 18.61% 17.88% #2
Prev: #2
7.5 -14,240 -28.0%
P
S
36,671 $12,860,886 2020 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
HEI/A
HEICO CORP NEW
Industrials 17.74% 17.62% #3
Prev: #3
7.2 -18,840 -28.0%
P
S
48,566 $12,259,515 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
RYAAY
RYANAIR HOLDING...
Industrials 16.29% 17.40% #4
Prev: #4
6.6 -124,800 -44.5%
P
S
155,942 $11,257,453 2019 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
ELV
ELEVANCE HEALTH...
Healthcare 7.30% 3.36% #5 3
Prev: #8
5.0 4,300 42.6%
P
S
14,400 $5,047,920 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
UNH
UNITEDHEALTH GR...
Healthcare 5.89% 3.34% #6 3
Prev: #9
4.5 2,940 31.3%
P
S
12,340 $4,073,557 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
CNI
CANADIAN NATL R...
Industrials 5.53% 5.20% #7 1
Prev: #6
2.3 -15,000 -28.0%
P
S
38,634 $3,818,971 2023 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
BP
BP PLC
Energy 3.56% 3.48% #8 1
Prev: #7
1.5 -27,400 -27.9%
P
S
70,776 $2,458,050 2022 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
CNQ
CANADIAN NAT RE...
Energy 3.03% 2.82% #9 1
Prev: #10
1.3 -24,000 -27.9%
P
S
61,874 $2,094,435 2023 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
TBBB
BBB FOODS INC
Consumer Defensive 2.50% 1.99% #10 1
Prev: #11
1.1 -20,100 -28.0%
P
S
51,700 $1,726,263 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
HDB
HDFC BANK LTD
Financial Services 0.00% 5.85%
Sold All 😨
(Was: #5)
0.3 -166,410 -100.0%
CLOSED
$— 2022 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-11 of 11 holdings

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