PRIMECAP Holds 3.77M Immunocore ADRs (7.51% Ownership)

Rhea-AI Filing Summary

Primecap Management Co/CA reports beneficial ownership of 3,772,234 ADRs of Immunocore Holdings plc, representing 7.51% of the class. The filing shows Primecap is an investment adviser organized in the United States and holds sole voting power for 3,746,574 shares and sole dispositive power for 3,772,234 shares. The statement clarifies these securities are held in the ordinary course of business and were not acquired to change or influence control of the issuer. The document identifies the ADR class and provides the filer’s principal business address.

Positive

• Material institutional stake: 3,772,234 ADRs (7.51%) indicates significant investor interest
• Clear voting/dispositive control: Sole voting power for 3,746,574 shares and sole dispositive power for 3,772,234 shares

Negative

• None.

Insights

Financial Analyst

TL;DR: A prominent U.S. investment adviser discloses a material, passive 7.51% stake in Immunocore, signifying notable institutional interest.

Primecap’s 3.77 million ADR position is above the 5% disclosure threshold and is reported on a Schedule 13G, which indicates a passive intent rather than an active control strategy. For investors, a sizable passive stake from an established adviser can signal conviction without immediate corporate governance pressure. The filing gives exact voting and dispositive figures, allowing precise ownership modeling for share count and potential block-trade analysis.

Corporate Governance Expert

TL;DR: Ownership structure shows meaningful single-owner influence on votes but is declared passive; no indication of control actions.

The filing reports sole voting power for 3,746,574 ADRs and sole dispositive power for 3,772,234 ADRs, confirming Primecap’s direct control over voting and disposition of its holdings while maintaining a passive stance under Schedule 13G rules. This is material for governance monitoring because the holder can influence outcomes if they choose to move from passive to active engagement, but the current certification states no intent to change control.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Immunocore Holdings plc - ADR

(Name of Issuer)

ADR

(Title of Class of Securities)

45258D105

(CUSIP Number)

06/30/2025

(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)

SCHEDULE 13G

CUSIP No. 45258D105

1

Names of Reporting Persons

PRIMECAP MANAGEMENT CO/CA/

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 3,746,574.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,772,234.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,772,234.00

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)

7.51 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Immunocore Holdings plc - ADR
(b)	Address of issuer's principal executive offices: 92 Park Drive Milton Park, Abingdon, Oxfordshire, UNITED KINGDOM OX14 4RY
Item 2.
(a)	Name of person filing: PRIMECAP MANAGEMENT CO/CA/
(b)	Address or principal business office or, if none, residence: 177 EAST COLORADO BLVD. 11TH FLOOR PASADENA, California 91105
(c)	Citizenship: PRIMECAP MANAGEMENT CO/CA/ - UNITED STATES
(d)	Title of class of securities: ADR
(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: 3,772,234
(b)	Percent of class: 7.51 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: PRIMECAP MANAGEMENT CO/CA/ - 3,746,574
	(ii) Shared power to vote or to direct the vote: PRIMECAP MANAGEMENT CO/CA/ - 0
	(iii) Sole power to dispose or to direct the disposition of: PRIMECAP MANAGEMENT CO/CA/ - 3,772,234
	(iv) Shared power to dispose or to direct the disposition of: PRIMECAP MANAGEMENT CO/CA/ - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
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.

PRIMECAP MANAGEMENT CO/CA/

Signature:	Jorge A. Rodriguez
Name/Title:	Deputy Chief Compliance Officer
Date:	08/14/2025

FAQ

How many Immunocore (IMCR) ADRs does Primecap own?

Primecap beneficially owns 3,772,234 ADRs of Immunocore.

What percentage of IMCR does Primecap hold?

The position represents 7.51% of the ADR class.

Does Primecap have voting power over its IMCR shares?

Yes. Primecap has sole voting power over 3,746,574 shares and sole dispositive power over 3,772,234 shares.

Is this Schedule 13G filing indicative of an attempt to control Immunocore?

No. The filer certifies the securities are held in the ordinary course of business and were not acquired to change or influence control.

Who filed the 13G amendment for Immunocore (IMCR)?

The filing was made by Primecap Management Co/CA, an investment adviser organized in the United States.