HI
Helikon Investments Ltd — 13F Portfolio Analysis & Stock Picks (Q2 2026)
Helikon Investments LtdCIK: 0001839497
Sector-focusedMomentum followerQuality / disciplined sizing
Total reported value
$3.3B
Reporting period: 2026-06-30 · Number of holdings: 18
Helikon Investments Ltd disclosed 18 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $3.3B and a quarterly turnover rate of 45.0%.
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Personality snowflake
- Concentration
- 32.54
- Portfolio Stability
- 45.01
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 36
- Sizing Uniformity
- 92.99
Helikon Investments Ltd's disclosed holdings carry a Herfindahl concentration index of 0.081 — mathematically equivalent to about 12 equally-sized positions, close to its 18 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.70), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 20% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy EGO
Add ABVX
+175.0% $258.6M
Trim AAUC
-5.8% -$106.0M
Trim SKE
+2.2% -$40.8M
Trim CNL
-3.0% -$62.8M
Add SGHC
+83.2% $132.1M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SKE | Skeena Resources LTD | Stock-Other | 13.40% | -5.07% | +2.19% | |
| 2 | ABVX | Abivax Sa-adr | Stock-Other | 11.10% | +6.84% | +175.05% | |
| 3 | EGO | Eldorado Gold CORP | Stock-Other | 10.38% | +10.38% | NEW | |
| 4 | ✓ | Corporacion Amer Arpts S A | Stock-Other | 10.23% | -2.34% | +3.26% | |
| 5 | AAUC | Allied Gold CORP | Stock-Other | 8.21% | -6.17% | -5.78% | |
| 6 | PPLI | People Inc | Stock-Comm Services | 7.79% | +2.47% | +60.66% | |
| 7 | SGHC | Super Group (SGHC) Limited | Stock-Other | 6.99% | +3.15% | +83.17% | |
| 8 | SVM | Silvercorp Metals Inc | Stock-Other | 5.26% | -1.27% | +8.20% | |
| 9 | FLUT | Flutter Entertainment plc | Stock-Consumer Disc | 4.78% | -0.76% | +8.71% | |
| 10 | SLSR | Solaris Resources Inc | Stock-Other | 4.75% | -0.29% | +21.93% | |
| 11 | CNL | Collective Mining LTD | Stock-Other | 3.90% | -3.40% | -2.95% | |
| 12 | QGEN | Qiagen N.V. | Stock-Healthcare | 3.60% | +0.87% | +70.64% | |
| 13 | MGM | Mgm Resorts International | Stock-Consumer Disc | 2.89% | -1.13% | -29.57% | |
| 14 | IRS | Irsa -sp Adr | Stock-Other | 2.26% | -0.45% | +10.78% | |
| 15 | NEWP | New Pacific Metals CORP | Stock-Other | 2.21% | +0.66% | +85.57% | |
| 16 | HSLV | Highlander Silver CORP | Stock-Other | 1.12% | -0.03% | +54.87% | |
| 17 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 0.68% | +0.68% | NEW | |
| 18 | EDN | Emp Distrib Y Comerc Nor-adr | Stock-Other | 0.45% | -1.06% | -54.38% |
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Portfolio Performance
Performance for Q3 2026
-1.1%
Performance Last 4 Quarters
+40%
Based on 87% of reported portfolio value with available pricing
- Stdev
- +29.8%
- Beta
- +0.6
- Alpha
- +37.2%
- Max Drawdown
- -22.2%
- Annualized Perf
- +55.8%
- Batting Avg vs S&P
- +52.8%
- Sortino
- +4.5
- Stutzer
- +0.51
- Treynor
- +0.82
- Sterling
- +2.49
- Calmar
- +2.52
- Information Ratio
- +1
- Tracking Error
- +29.3%
- Stdev Down
- +10.9%
- Winning Months %
- +61.1%
- Losing Months %
- +38.9%
- Best 12 Months
- +131%
- Worst 12 Months
- +40%
- Efficiency Ratio
- +1.05
- Sharpe
- +1.65
- Stdev Sectors
- +15.1%
- Skewness
- +0.53
- Kurtosis
- -0.25
- Upside Potential
- +6.28
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 18 | $3.3B | 45 | ||
| 2026 Q1 | 17 | $2.6B | 51 | ||
| 2025 Q4 | 17 | $1.9B | 34 | ||
| 2025 Q3 | 17 | $1.5B | 92 | ||
| 2025 Q2 | 19 | $1.6B | 0 | ||
| 2025 Q1 | 21 | $1.3B | 100 | ||
| 2024 Q4 | 19 | $961.0M | 0 | ||
| 2024 Q3 | 19 | $1.1B | 0 | ||
| 2024 Q2 | 18 | $1.1B | 0 | ||
| 2024 Q1 | 17 | $1.2B | 0 | ||
| 2023 Q4 | 15 | $1.0B | 0 | ||
| 2023 Q3 | 15 | $819.3M | 0 | ||
| 2023 Q2 | 15 | $819.4M | 0 | ||
| 2023 Q1 | 12 | $748.2M | 0 | ||
| 2022 Q4 | 8 | $532.3M | 0 | ||
| 2022 Q3 | 6 | $340.8M | 0 | ||
| 2022 Q2 | 4 | $253.0M | 0 | ||
| 2022 Q1 | 6 | $332.7M | 0 | ||
| 2021 Q4 | 4 | $314.6M | 0 | ||
| 2021 Q3 | 3 | $343.4M | 0 | ||
| 2021 Q2 | 4 | $358.9M | 100 | ||
| 2021 Q1 | 3 | $230.6M | 67 | ||
| 2020 Q4 | 4 | $154.5M | — |
Holding changes this quarter
Helikon Investments Ltd's most significant position changes for 2026-06-30: New buy: Eldorado Gold CORP (EGO); Sold out: Transportador Gas-adr Sp B (TGS); New buy: Agnico Eagle Mines LTD (AEM); Add: Abivax Sa-adr (ABVX) — shares +175.05%; Trim: Allied Gold CORP (AAUC) — shares -5.78%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | EGO | Eldorado Gold CORP | +10.4% | NEW | New buy |
| 2 | ABVX | Abivax Sa-adr | +6.8% | +175.05% | Add |
| 3 | SGHC | Super Group (SGHC) Limited | +3.2% | +83.17% | Add |
| 4 | PPLI | People Inc | +2.5% | +60.66% | Add |
| 5 | QGEN | Qiagen N.V. | +0.9% | +70.64% | Add |
| 6 | AEM | Agnico Eagle Mines LTD | +0.7% | NEW | New buy |
| 7 | NEWP | New Pacific Metals CORP | +0.7% | +85.57% | Add |
| 8 | HSLV | Highlander Silver CORP | 0% | +54.87% | Add |
| 9 | SLSR | Solaris Resources Inc | -0.3% | +21.93% | Add |
| 10 | IRS | Irsa -sp Adr | -0.5% | +10.78% | Add |
| 11 | FLUT | Flutter Entertainment plc | -0.8% | +8.71% | Add |
| 12 | EDN | Emp Distrib Y Comerc Nor-adr | -1.1% | -54.38% | Trim |
| 13 | MGM | Mgm Resorts International | -1.1% | -29.57% | Trim |
| 14 | SVM | Silvercorp Metals Inc | -1.3% | +8.20% | Add |
| 15 | ✓ | Corporacion Amer Arpts S A | -2.3% | +3.26% | Add |
| 16 | TGS | Transportador Gas-adr Sp B | -3.1% | EXIT | Sold out |
| 17 | CNL | Collective Mining LTD | -3.4% | -2.95% | Trim |
| 18 | SKE | Skeena Resources LTD | -5.1% | +2.19% | Add |
| 19 | AAUC | Allied Gold CORP | -6.2% | -5.78% | Trim |
Filing History
FAQ
What is Helikon Investments Ltd and what type of investor is it?
Helikon Investments Ltd is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $3.3B, spread across 18 disclosed positions.
What are Helikon Investments Ltd's largest equity positions?
Based on the latest 13F filing, Helikon Investments Ltd's top holdings by market value are:
1. Skeena Resources LTD (SKE) — $448.5M (13.4%)
2. Abivax Sa-adr (ABVX) — $371.4M (11.1%)
3. Eldorado Gold CORP (EGO) — $347.6M (10.4%)
4. Corporacion Amer Arpts S A — $342.3M (10.2%)
5. Allied Gold CORP (AAUC) — $275.0M (8.2%)
What changes did Helikon Investments Ltd make in its most recent portfolio filing?
In the latest reported quarter, Helikon Investments Ltd made 19 notable position adjustments: 2 new positions were initiated, 12 existing holdings were added to, 4 positions were partially reduced, and 1 were completely exited. The largest of these moves: New buy: Eldorado Gold CORP (EGO); Sold out: Transportador Gas-adr Sp B (TGS); New buy: Agnico Eagle Mines LTD (AEM); Add: Abivax Sa-adr (ABVX) — shares +175.05%; Trim: Allied Gold CORP (AAUC) — shares -5.78%
What sectors does Helikon Investments Ltd focus on?
Helikon Investments Ltd is concentrated in the following sectors based on its current disclosed equity portfolio:
• Communication Services: 39.5%
• Consumer Discretionary: 38.8%
• Health Care: 18.3%
• Materials: 3.4%
Investment Profile
Helikon Investments Ltd returned an annualized 55.8% over the trailing 36 months — outperforming the S&P 500 by 37.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.60 (less volatile than the market) and a 53% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 39.5% of the portfolio concentrated in Communication Services.
Its turnover score has risen from 0 to 45 over the past 4 quarters — a shift toward more active trading.
It has added to its PPLI position over the past two quarters (+$187.9M, now $260.9M), while trimming EDN over the same stretch (-$32.8M, still holding $15.2M).
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RC
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YC
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Developer Access
Access Helikon Investments Ltd's institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/helikon-investments-ltdCLI
npx alphasmo institutions get helikon-investments-ltd