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Immersion Capital Portfolio holdings

AUM $87.4M
1-Year Est. Return 12.04%
This Fund
S&P 500
This Quarter Est. Return
+3.46%
1 Year Est. Return
+12.04%
3 Year Est. Return
+63.37%
5 Year Est. Return
+56.74%
10 Year Est. Return
+797.07%
AUM
$69.1M
AUM Growth
-$28.1M
Cap. Flow
-$30M
Cap. Flow %
-43.41%
Top 10 Hldgs %
100%
Holding
11
New
–
Increased
2
Reduced
8
Closed
1

Top Buys

Rank Stock Value
1
ELV icon
Elevance Health
ELV
+$1.45M
2
UNH icon
UnitedHealth
UNH
+$996K

Top Sells

Rank Stock Value
1
RYAAY icon
Ryanair
RYAAY
+$8.11M
2
HDB icon
HDFC Bank
HDB
+$5.68M
3
BLK icon
Blackrock
BLK
+$5.37M
4
V icon
Visa
V
+$4.85M
5
HEI.A icon
HEICO Corp Class A
HEI.A
+$4.65M

Sector Composition

Rank Sector Weight
1 Industrials 39.55%
2 Financials 38.17%
3 Healthcare 13.2%
4 Energy 6.59%
5 Consumer Staples 2.5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BLK icon
1
Blackrock
BLK
$164B
$13.5M 19.56%
12,633
-4,910
-28% -$5.37M
V icon
2
Visa
V
$677B
$12.9M 18.61%
36,671
-14,240
-28% -$4.85M
HEI.A icon
3
HEICO Corp Class A
HEI.A
$35.4B
$12.3M 17.74%
48,566
-18,840
-28% -$4.65M
RYAAY icon
4
Ryanair
RYAAY
$29.5B
$11.3M 16.29%
155,942
-124,800
-44% -$8.11M
ELV icon
5
Elevance Health
ELV
$81.9B
$5.05M 7.3%
14,400
+4,300
+43% +$1.45M
UNH icon
6
UnitedHealth
UNH
$382B
$4.07M 5.89%
12,340
+2,940
+31% +$996K
CNI icon
7
Canadian National Railway
CNI
$78.3B
$3.82M 5.53%
38,634
-15,000
-28% -$1.44M
BP icon
8
BP
BP
$113B
$2.46M 3.56%
70,776
-27,400
-28% -$961K
CNQ icon
9
Canadian Natural Resources
CNQ
$96.9B
$2.09M 3.03%
61,874
-24,000
-28% -$778K
TBBB icon
10
BBB Foods
TBBB
$4.85B
$1.73M 2.5%
51,700
-20,100
-28% -$601K
HDB icon
11
HDFC Bank
HDB
$119B
– –
-166,410
Closed -$5.68M

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Immersion Capital's Q4 2025 Portfolio in Review

As of Q4 2025, Immersion Capital held 11 positions worth $69.1M, down 29% from $97.2M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Immersion Capital withdrew a net $30M in Q4 2025, closing 1 position and reducing 8 holdings. Its most notable exit was HDFC Bank, an estimated $5.68M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 40% of assets, down from 40% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Immersion Capital added an estimated $1.45M to Elevance Health.

  • Immersion Capital added most to Elevance Health in Q4 2025, an estimated $1.45M increase.
  • Immersion Capital's biggest Q4 2025 reduction was Ryanair, cutting an estimated $8.11M.
  • Immersion Capital fully exited HDFC Bank in Q4 2025, selling an estimated $5.68M.
  • Immersion Capital's ten largest holdings make up 100% of its $69.1M portfolio in Q4 2025.
  • Immersion Capital opened 0 new positions and closed 1 in Q4 2025.
  • Immersion Capital's portfolio value fell 29% quarter-over-quarter to $69.1M.

Based on Immersion Capital's 13F filing for Q4 2025, filed 17 Feb 2026.