Immersion Capital LLP
LONDON, X0
$63m in 10 US stocks at the end of 31 March 2026. The top 10 are 100.0% of the money. It changed about 5.7% of the portfolio this quarter.
Value
$63m
Stocks
10
Top 10 share
100.0%
Turnover
5.7%
What changed this quarter
New
Bought for the first time this quarter.
None this quarter.
Added
Bought more of a stock they already held.
- BBB FoodsTBBB3.9% of the fund+35%
Cut
Sold some of their stake.
None this quarter.
Sold out
Sold their entire stake.
None this quarter.
Holdings
- Ryanair HoldingsRYAAY
- Share
- 14.3%
- Value
- $9m
- Shares
- 155,942
Held
- Canadian National RailwayCNI
- Share
- 6.3%
- Value
- $4m
- Shares
- 38,634
Held
- Canadian Natural ResourcesCNQ
- Share
- 4.8%
- Value
- $3m
- Shares
- 61,874
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| BlackRockBLK | 19.3% | $12m | 12,633 | Held |
| VisaV | 17.6% | $11m | 36,671 | Held |
| HeicoHEI-A | 16.3% | $10m | 48,566 | Held |
| Ryanair HoldingsRYAAY | 14.3% | $9m | 155,942 | Held |
| Elevance HealthELV | 6.7% | $4m | 14,400 | Held |
| Canadian National RailwayCNI | 6.3% | $4m | 38,634 | Held |
| UnitedHealth GroupUNH | 5.3% | $3m | 12,340 | Held |
| BPBP | 5.3% | $3m | 70,776 | Held |
| Canadian Natural ResourcesCNQ | 4.8% | $3m | 61,874 | Held |
| BBB FoodsTBBB | 3.9% | $2m | 69,700 | +35% |
Options (1)
- Palantir Technologies
- Type
- Put
- Value
- $25m
- Contracts
- 168,000
| Company | Type | Value | Contracts |
|---|---|---|---|
| Palantir Technologies | Put | $25m | 168,000 |
Over time and by industry
Value over time
Sep '25
Mar '26
Value is down 36.8% since 30 June 2025.
Where the money is
Industrials37.0%
Financial services37.0%
Health care12.0%
Energy10.1%
Everyday goods3.9%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.