DOSSIER · 13F-HR · Q1 2026

Helikon Investments Ltd

$2.6B in tracked AUM across 17 positions as of Q1 2026.

HI
CIK 0001839497 · last filed Mar 31, 2026
Total AUM
$2.6B
as of Q1 2026
Holdings
17
positions
Whale Score
77
77
strong
Activity
no data
changes this Q
AI Analysis · Q1 2026

Helikon Investments Ltd runs a $2.86B book that reflects a deliberate high-conviction approach: few positions, meaningful individual weights, and a Q1 filing where the direction of activity reads as selective pruning rather than aggressive rebuilding. The portfolio's largest names span U.S. large-cap quality and secular-growth themes, held at weights that imply the manager believes the durability of those businesses justifies the valuation. WhaleScore of 79 reflects a track record that has earned the right to run concentrated, and the Q1 filing supports that characterization: the manager added to existing high-conviction names and sold positions that ran, rather than chasing rotation into new sectors.

The WhaleScore of 79 puts Helikon in the upper tier of credentialed active managers, and the portfolio shape is consistent with a special-situations or activist-adjacent approach. In Q1, the book was essentially flat in AUM — suggesting either net-neutral activity or a quarter where market performance cancelled out net trading. The absence of dramatic position changes reflects a manager who believes in the durability of the existing book rather than chasing the latest thematic rotation.

The most readable feature of the Helikon filing is the selectivity. The top holdings are recognizable, high-quality names with durable competitive positions, and the manager holds them at weights that go beyond benchmark-plus-sleeve tilts. A name that appears in Helikon's top-10 and is unusual in peer comparisons may represent the kind of mispriced special situation that Helikon's process is designed to find.

Quarter at a glance — Q1 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q1 2026.

#HoldingValueSharesWeight
01
SKE
SKEENA RES LTD NEW
$489M16.5M18.5%
02
AAUC
ALLIED GOLD CORP
$381M12.3M14.4%
03
L1995B107
CORPORACION AMER ARPTS S A
$333M13.2M12.6%
04
CNL
COLLECTIVE MINING LTD
$193M11.0M7.3%
05
SVM
SILVERCORP METALS INC
$173M16.1M6.5%
06
G3643J108
FLUTTER ENTMT PLC
$147M1.4M5.5%
07
IAC
IAC INC
$141M3.5M5.3%
08
SLSR
SOLARIS RES INC
$133M15.5M5.0%
09
ABVX
ABIVAX SA
$113M1.0M4.3%
10
MGM
MGM RESORTS INTERNATIONAL
$106M2.9M4.0%

Filing history

2026Q1Mar 31
$2.6B 40.5%
17 positionsView →
2025Q4Dec 31
$1.9B 29.0%
17 positionsView →
2025Q3Sep 30
$1.5B 9.4%
17 positionsView →
2025Q2Jun 30
$1.6B 74.5%
19 positionsLocked
2025Q1Mar 31
$925M 3.8%
15 positionsLocked
2024Q4Dec 31
$961M 13.8%
19 positionsLocked
2024Q3Sep 30
$1.1B 2.7%
19 positionsLocked
2024Q2Jun 30
$1.1B 6.4%
18 positionsLocked
2024Q1Mar 31
$1.2B 13.5%
17 positionsLocked
2023Q4Dec 31
$1.0B 24.7%
15 positionsLocked
2023Q3Sep 30
$819M 0.0%
15 positionsLocked
2023Q2Jun 30
$819M 9.5%
15 positionsLocked
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