IMMERSION CORP
Long book
$144.7M
Q1 2026
Positions
9
Top-10 weight
100%
concentration
Last quarter
+34.1%
SPY +14.8%
Turnover
11%
of book per quarter
Strategy in plain words
auto-generated from filingsIMMERSION CORP is a diversified fundamental manager, specialised in consumer_discretionary (71% of the long book), running a $144.7M US long book across 9 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: BARNES & NOBLE EDUCATION INC, FIVE POINT HOLDINGS LLC-CL A, XPERI INC, RIMINI STREET INC, UNIVERSAL ELECTRONICS INC.
Over the last 6 quarters its long book ran on average 1.1pp per quarter behind the S&P 500, beating the index in 4 of 6 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q4 2024
-0.5%
Q1 2025
+11.2%
Q2 2025
-10.8%
Q3 2025
-8.7%
Q4 2025
-4.2%
Q1 2026
+34.1%
Sector allocation
Consumer discretionary 70%
Technology 10%
Real estate 9%
Services media 5%
Industrials 4%
Other 2%
Long book by quarter
What does IMMERSION CORP own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| BNED BARNES & NOBLE EDUCATION INC | Consumer discretionary | 11.2M | $99.0M | 68.4% | Held |
| FPH FIVE POINT HOLDINGS LLC-CL A | Real estate | 2.8M | $13.5M | 9.3% | Held |
| XPER XPERI INC | Technology | 1.9M | $10.7M | 7.4% | +3.0% |
| RMNI RIMINI STREET INC | Services media | 2.1M | $6.9M | 4.7% | +297.6% |
| UEIC UNIVERSAL ELECTRONICS INC | Industrials | 1.5M | $6.4M | 4.4% | Held |
| MX MAGNACHIP SEMICONDUCTOR CORP | Technology | 1.4M | $3.9M | 2.7% | -26.4% |
| BXSL BLACKSTONE SECURED LENDING F | — | 79.2K | $1.9M | 1.3% | Held |
| PLCE CHILDREN'S PLACE INC/THE | Consumer discretionary | 474.0K | $1.6M | 1.1% | Held |
| ALITEUR ALIGHT INC - CLASS A | — | 1.5M | $887K | 0.6% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 9 | $144.7M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 8 | $145.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 7 | $162.0M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 10 | $197.4M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 8 | $162.8M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 5 | $155.8M | canonical | SEC ↗ |