Immunocore Holdings plc has a significant institutional holder, Vestal Point Capital, LP, which, together with Ryan Wilder, reports beneficial ownership of 1,800,000 American Depository Shares (ADS). These ADS each represent one ordinary share of Immunocore.
This position represents 3.5% of Immunocore’s outstanding shares, based on 50,865,574 shares, including ADS, outstanding as of April 30, 2026, as reported by the company. Vestal Point Capital and Ryan Wilder report shared voting and shared dispositive power over all 1,800,000 ADS, with no sole voting or dispositive power. The filing also notes that the investors now hold 5% or less of the class, and includes standard language that the reporting persons do not admit to being beneficial owners for all legal purposes.
Positive
None.
Negative
None.
Key Figures
Beneficial ownership:1,800,000 American Depository SharesOwnership percentage:3.5%Shares outstanding baseline:50,865,574 shares+2 more
5 metrics
Beneficial ownership1,800,000 American Depository SharesADS of Immunocore reported as beneficially owned by Vestal Point Capital and Ryan Wilder
Ownership percentage3.5%Percentage of Immunocore’s outstanding shares represented by the reported ADS position
Shares outstanding baseline50,865,574 sharesTotal shares, including ADS, outstanding as of April 30, 2026 used to calculate ownership percentage
Shared voting power1,800,000 ADSNumber of ADS over which the reporting persons share voting power
Shared dispositive power1,800,000 ADSNumber of ADS over which the reporting persons share dispositive power
Key Terms
beneficial owner, shared voting power, shared dispositive power, American Depository Shares, +1 more
5 terms
beneficial ownerregulatory
"not be construed as an admission that any Reporting Person is ... the beneficial owner of the securities"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
shared voting powerregulatory
"6 | Shared Voting Power 1,800,000.00 7 | Sole Dispositive Power 0.00"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
shared dispositive powerregulatory
"8 | Shared Dispositive Power 1,800,000.00 9 1,800,000.00"
American Depository Sharesfinancial
"American Depository Shares, each representing one ordinary share, nominal value 0.002 euro"
American depository shares are U.S.-listed securities that stand in for a foreign company’s ordinary shares, held by a U.S. bank which issues the ADS so investors can trade the foreign stock in U.S. dollars and on U.S. exchanges. Think of them like a locally wrapped version of a foreign product—easier to buy and sell at home—but they still carry risks from currency differences, foreign rules and potential limits on voting rights, so they affect access, liquidity and investment risk.
Schedule 13Gregulatory
"for the purposes of Section 13 of the Securities Exchange Act of 1934"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
FAQ
How many Immunocore (IMCR) shares does Vestal Point Capital report owning?
Vestal Point Capital and Ryan Wilder report beneficial ownership of 1,800,000 American Depository Shares of Immunocore. These ADS each represent one ordinary share and are held through a fund and a managed account advised by Vestal Point Capital.
What percentage of Immunocore (IMCR) does Vestal Point Capital’s holding represent?
The reported 1,800,000 ADS represent 3.5% of Immunocore’s outstanding shares. This percentage is calculated using 50,865,574 shares outstanding as of April 30, 2026, as disclosed in Immunocore’s Form 10-Q.
Who are the reporting persons in this Immunocore (IMCR) Schedule 13G/A?
The reporting persons are Vestal Point Capital, LP, an investment manager, and Ryan Wilder, its Chief Investment Officer and Managing Partner. They report beneficial ownership with respect to ADS directly held by a Vestal Point fund and managed account.
What voting and dispositive power do the reporting persons have over Immunocore (IMCR) shares?
Vestal Point Capital and Ryan Wilder report 0 shares with sole voting or dispositive power and 1,800,000 ADS with shared voting and shared dispositive power. This means decisions on voting and disposition are shared among the reporting persons for these securities.
Does Vestal Point Capital still own more than 5% of Immunocore (IMCR)?
No. The filing confirms ownership of 5 percent or less of Immunocore’s ADS class. Their 3.5% stake reflects a level of ownership below the 5% threshold relevant for certain large shareholder reporting requirements.
What is the share count base used to calculate Vestal Point’s percentage in Immunocore (IMCR)?
The 3.5% ownership figure is based on 50,865,574 shares, including ADS, outstanding as of April 30, 2026. This outstanding share count comes from Immunocore’s Quarterly Report for the period ended March 31, 2026.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Immunocore Holdings plc
(Name of Issuer)
American Depository Shares, each representing one ordinary share, nominal value 0.002 euro per share
(Title of Class of Securities)
45258D105
(CUSIP Number)
06/30/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
45258D105
1
Names of Reporting Persons
Vestal Point Capital, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,800,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,800,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,800,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
3.5 %
12
Type of Reporting Person (See Instructions)
IA, PN
SCHEDULE 13G
CUSIP Number(s):
45258D105
1
Names of Reporting Persons
Ryan Wilder
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,800,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,800,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,800,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
3.5 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Immunocore Holdings plc
(b)
Address of issuer's principal executive offices:
92 Park Drive Milton Park, Abingdon, Oxfordshire, United Kingdom
Item 2.
(a)
Name of person filing:
This statement is filed by:
(i) Vestal Point Capital, LP (the "Investment Manager"), a Delaware limited partnership, and the investment adviser to a certain fund and a managed account (the "Vestal Point Fund and Account"), with respect to the American Depository Shares, each representing one ordinary share, nominal value 0.002 euro per share (the "ADS Shares"), of Immunocore Holdings plc (the "Company") directly held by the Vestal Point Fund and Account; and
(ii) Mr. Ryan Wilder ("Mr. Wilder"), the Chief Investment Officer and Managing Partner of the Investment Manager and the Managing Member of Vestal Point Capital, LLC, the general partner of the Investment Manager, with respect to the ADS Shares directly held by the Vestal Point Fund and Account.
The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons."
The filing of this statement should not be construed as an admission that any of the foregoing persons or any Reporting Person is, for the purposes of Section 13 of the Securities Exchange Act of 1934, the beneficial owner of the securities reported herein.
(b)
Address or principal business office or, if none, residence:
The address of the business office of each of the Reporting Persons is 632 Broadway, Suite 602, New York, NY 10012.
(c)
Citizenship:
The Investment Manager is a Delaware limited partnership. Mr. Wilder is a citizen of the United States.
(d)
Title of class of securities:
American Depository Shares, each representing one ordinary share, nominal value 0.002 euro per share
(e)
CUSIP No.:
45258D105
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 50,865,574 shares, including ADS Shares, outstanding as of April 30, 2026, as reported in the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026, filed with the Securities and Exchange Commission on May 6, 2026.
(b)
Percent of class:
3.5%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iii) Sole power to dispose or to direct the disposition of:
The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iv) Shared power to dispose or to direct the disposition of:
The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
See Item 2(a).
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Vestal Point Capital, LP
Signature:
/s/ Ryan Wilder
Name/Title:
By: Vestal Point Capital, LLC, General Partner, By: Ryan Wilder, Chief Investment Officer and Managing Partner
