Q4 2025 · 13F-HR
Helikon Investments Ltdholdings as filed
Filed 2026-02-05 · accession 0001839497-26-000001
$1.89B
Reported value
17
Positions
2025-12-31
Period end
The Brief · Helikon Investments Ltd · Q4 2025
AI · grounded in 13F
Helikon Investments Ltd significantly reduced its stake in IFS, trimming the position by 96.66%. The fund also closed its positions in CRESY, resulting in a -$3.64M delta, and LOMA, which saw a -$1.79M delta. On the buy side, the fund increased its holding in IHS by 81.20% and grew its position in SLSR by 32.45%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 01921D204 | AAUC | ALLIED GOLD CORP | $377.5M | 20.0% | 16,498,498 | Common | SOLE |
| 83056P715 | SKE | SKEENA RES LTD NEW | $375.6M | 19.9% | 15,828,709 | Common | SOLE |
| L1995B107 | CAAP | CORPORACION AMER ARPTS S A | $352.7M | 18.7% | 13,565,960 | Common | SOLE |
| 19425C100 | CNL | COLLECTIVE MINING LTD | $155.4M | 8.24% | 10,650,248 | Common | SOLE |
| 552953101 | MGM | MGM RESORTS INTERNATIONAL | $109.1M | 5.78% | 2,988,773 | Common | SOLE |
| 893870204 | TGS | TRANSPORTADORA DE GAS SUR | $102.1M | 5.41% | 3,283,265 | Common | SOLE |
| 44891N208 | IAC | IAC INC | $73.0M | 3.87% | 1,866,442 | Common | SOLE |
| 83419D201 | SLSR | SOLARIS RES INC | $71.9M | 3.81% | 9,022,072 | Common | SOLE |
| 450047303 | IRS | IRSA INVERSIONES Y REP S A | $68.5M | 3.63% | 4,142,489 | Common | SOLE |
| G4701H109 | IHS | IHS HOLDING LIMITED | $65.5M | 3.47% | 8,780,288 | Common | SOLE |
| 697660207 | PAM | PAMPA ENERGIA S A | $50.0M | 2.65% | 565,449 | Common | SOLE |
| 29244A102 | EDN | EMPRESA DIST Y COMERCIAL NOR | $48.0M | 2.54% | 1,601,316 | Common | SOLE |
| 91822M502 | VEON | VEON LTD | $18.1M | 0.96% | 344,522 | Common | SOLE |
| 53680QAA6 | LARCN 1.75 01/15/27 | LITHIUM ARGENTINA AG | $8.3M | 0.44% | 9,111,000 | Common | SOLE |
| 64782A107 | NEWP | NEW PAC METALS CORP | $8.1M | 0.43% | 2,293,539 | Common | SOLE |
| P5626F128 | IFS | INTERCORP FINL SVCS INC | $1.3M | 0.07% | 31,223 | Common | SOLE |
| 11777Q209 | BTG | B2GOLD CORP | $255,988 | 0.01% | 56,760 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.