Helikon Investments Ltd

LONDON, X0 · CIK 1839497 · 13F filing filed 2026-08-11

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$3.3bn reported value +26.4% vs Q1 2026

18positions

82.9%in top 10

2 new 12 added 4 reduced 1 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	SKEENA RES LTD NEW COM SKE	SKE	16,822,865	$448.5m13.40%	13.40%	Added +360.0k	+360,000 2.2%
2	ABIVAX SA SPONSORED ADS ABVX	ABVX	2,787,131	$371.4m11.10%	11.10%	Added +1.8m	+1,773,807 175.1%
3	ELDORADO GOLD CORP NEW COM EGO	EGO	11,180,130	$347.6m10.38%	10.38%	New
4	CORPORACION AMER ARPTS S A COM CAAP	CAAP	13,594,321	$342.3m10.23%	10.23%	Added +429.1k	+429,096 3.3%
5	ALLIED GOLD CORP COM NEW AAUC	AAUC	11,563,292	$275.0m8.21%	8.21%	Reduced -708.9k	-708,910 -5.8%
6	IAC INC COM NEW PPLI	PPLI	5,652,519	$260.9m7.79%	7.79%	Added +2.1m	+2,134,105 60.7%
7	SUPER GROUP SGHC LIMITED ORD SHS SGHC	SGHC	17,263,516	$233.9m6.99%	6.99%	Added +7.8m	+7,838,814 83.2%
8	SILVERCORP METALS INC COM SVM	SVM	17,437,340	$176.1m5.26%	5.26%	Added +1.3m	+1,321,926 8.2%
9	FLUTTER ENTMT PLC SHS FLUT	FLUT	1,565,150	$159.9m4.78%	4.78%	Added +125.4k	+125,400 8.7%
10	SOLARIS RES INC COM NEW SLSR	SLSR	18,955,119	$158.8m4.75%	4.75%	Added +3.4m	+3,409,274 21.9%
11	COLLECTIVE MINING LTD COM CNL	CNL	10,655,062	$130.5m3.90%	3.90%	Reduced -324.2k	-324,250 -3.0%
12	QIAGEN NV ORD SHARES QGEN	QGEN	3,085,155	$120.6m3.60%	3.60%	Added +1.3m	+1,277,166 70.6%
13	MGM RESORTS INTERNATIONAL COM MGM	MGM	2,024,930	$96.8m2.89%	2.89%	Reduced -850.1k	-850,074 -29.6%
14	IRSA INVERSIONES Y REP S A SPON GDS ECH 10 IRS	IRS	4,906,222	$75.8m2.26%	2.26%	Added +477.5k	+477,516 10.8%
15	NEW PAC METALS CORP COM NEWP	NEWP	18,438,377	$74.1m2.21%	2.21%	Added +8.5m	+8,502,194 85.6%
16	HIGHLANDER SILVER CORP COM HSLV	HSLV	8,009,594	$37.3m1.12%	1.12%	Added +2.8m	+2,837,772 54.9%
17	AGNICO EAGLE MINES LTD COM AEM	AEM	146,103	$22.7m0.68%	0.68%	New
18	EMPRESA DIST Y COMERCIAL NOR SPON ADR EDN	EDN	607,528	$15.2m0.45%	0.45%	Reduced -724.1k	-724,086 -54.4%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
TRANSPORTADORA DE GAS SUR TGS	TGS	2,347,333	$81.2m2.3m shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
SKEENA RES LTD NEW SKE · 13G · filed 2026-01-21	SKE	13.1%≈ $422.0m	-1.6 pts	13G	2026-01-21
ALLIED GOLD CORP AAUC · 13G · filed 2026-09-03	AAUC	12.6%≈ $410.8m	+2.8 pts	13G	2026-09-03
OREZONE GOLD CORP F ORZCF · 13G · filed 2026-07-09	ORZCF	12.4%	+1.6 pts	13G	2026-07-09
COLLECTIVE MINING LTD CNL · 13G · filed 2025-10-28	CNL	12.3%≈ $128.4m	+1.1 pts	13G	2025-10-28
IAC INC PPLI · 13G · filed 2026-10-06	PPLI	11.4%≈ $362.7m	+3.8 pts	13G	2026-10-06
NEW PAC METALS CORP NEWP · 13G · filed 2026-09-01	NEWP	10.7%≈ $79.5m	+0.7 pts	13G	2026-09-01
SOLARIS RES INC SLSR · 13G · filed 2026-05-07	SLSR	10.5%≈ $146.8m	+1.2 pts	13G	2026-05-07
SILVERCORP METALS INC SVM · 13G · filed 2026-09-03	SVM	10.3%≈ $229.4m	+3.0 pts	13G	2026-09-03
CORPORACION AMER ARPTS S A CAAP · 13G · filed 2025-05-12	CAAP	8.5%≈ $343.0m		13G	2025-05-12
IRSA INVERSIONES Y REP S A IRS · 13G · filed 2026-07-09	IRS	6.3%	+1.1 pts	13G	2026-07-09
EMPRESA DIST Y COMERCIAL NOR EDN · 13G · filed 2026-05-07	EDN	6.0%	-2.1 pts	13G	2026-05-07