Immersion Capital LLP

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Immersion Capital LLP reported 10 stock positions worth $62.8 million. Its top holding was BlackRock (BLK) at 19.3% of the portfolio, followed by Visa Class A (V, 17.6%) and Heico Class A (HEI.A, 16.3%). Compared with Q4 2025, it added to 1. The biggest buy was BBB Foods Class A (TBBB, shares +35%).

Most Recent 13F
Q1 2026
Location
LONDON, X0
CIK
0001636441
Portfolio Value
$62.8M (Q1 2026)
SEC Filing
0001636441-26-000002 ↗ filed May 15, 2026

Holdings Value

0$100.0M$200.0M$300.0M Q1 2024: $252.4M Q1 2024 Q2 2024: $178.6M Q2 2024 Q3 2024: $183.4M Q3 2024 Q4 2024: $119.5M Q4 2024 Q1 2025: $145.8M Q1 2025 Q2 2025: $99.4M Q2 2025 Q3 2025: $97.2M Q3 2025 Q4 2025: $69.1M Q4 2025 Q1 2026: $62.8M $62.8M Q1 2026

Holdings 10 stocks · $62.8M
BLK BlackRock Inc. 19.34% 12,633 $12.1M No change
V Visa Inc. Class A 17.64% 36,671 $11.1M No change
HEI.A Heico Corp. Class A 16.32% 48,566 $10.3M No change
RYAAY Ryanair Holdings PLC-SP ADR 14.35% 155,942 $9.0M No change
ELV Elevance Health Inc. 6.71% 14,400 $4.2M No change
CNI Canadian Natl Railway Co. 6.32% 38,634 $4.0M No change
UNH Unitedhealth Group Inc. 5.31% 12,340 $3.3M No change
BP BP PLC-Spons ADR 5.29% 70,776 $3.3M No change
CNQ Canadian Natural Resources 4.80% 61,874 $3.0M No change
TBBB BBB Foods Inc. Class A 3.92% 69,700 $2.5M Add +34.8%

Options reported separately and not counted above: PALANTIR TECHNOLOGIES INC puts ($24.6M).

Portfolio Sells Q4 2025 → Q1 2026
None this quarter.

Portfolio Buys Q4 2025 → Q1 2026
TBBB BBB Foods Inc. Class A Add +34.8% 3.92% +1.43

Options Activity Q4 2025 → Q1 2026
PALANTIR TECHNOLOGIES INC put New 168,000 $24.6M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q1 2026 10$62.8MBLK, V, HEI.A, RYAAY, ELV
Q4 2025 10$69.1MBLK, V, HEI.A, RYAAY, ELV
Q3 2025 11$97.2MBLK, V, HEI.A, RYAAY, HDB
Q2 2025 10$99.4MRYAAY, BLK, V, HEI.A, HDB
Q1 2025 10$145.8MBLK, RYAAY, V, HDB, GOOGL
Q4 2024 7$119.5MBLK, RYAAY, GOOGL, V, CNI
Q3 2024 9$183.4MRYAAY, BLK, GOOGL, V, CRM
Q2 2024 9$178.6MGOOGL, RYAAY, BLK, CRM, V
Q1 2024 9$252.4MRYAAY, BLK, GOOGL, CRM, KMX