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Helikon Investments Portfolio holdings

AUM $2.65B
1-Year Est. Return 79.03%
This Fund
S&P 500
This Quarter Est. Return
+14.69%
1 Year Est. Return
+79.03%
3 Year Est. Return
+330.2%
5 Year Est. Return
+443.61%
10 Year Est. Return
–
AUM
$1.61B
AUM Growth
+$307M
Cap. Flow
+$126M
Cap. Flow %
7.84%
Top 10 Hldgs %
86.6%
Holding
23
New
2
Increased
9
Reduced
5
Closed
4

Top Buys

Rank Stock Value
1
MGM icon
MGM Resorts International
MGM
+$221M
2
AAUC
Allied Gold Corp
AAUC
+$167M
3
PPLI
People Inc
PPLI
+$73.6M
4
SKE
Skeena Resources
SKE
+$26.6M
5
SLSR
Solaris Resources
SLSR
+$16M

Top Sells

Rank Stock Value
1
EGO icon
Eldorado Gold
EGO
+$187M
2
AGRO icon
Adecoagro
AGRO
+$89.8M
3
VEON icon
VEON
VEON
+$44.9M
4
CZR icon
Caesars Entertainment
CZR
+$29.1M
5
BVN icon
Compañía de Minas Buenaventura
BVN
+$26.7M

Sector Composition

Rank Sector Weight
1 Materials 40.55%
2 Industrials 19.13%
3 Consumer Discretionary 18.78%
4 Communication Services 8.89%
5 Financials 4.5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MGM icon
1
MGM Resorts International
MGM
$11.4B
$303M 18.78%
8,810,322
+6,974,347
+380% +$221M
CAAP icon
2
Corporacion America
CAAP
$4.23B
$270M 16.75%
13,342,552
-279,847
-2% -$5.51M
SKE
3
Skeena Resources
SKE
$3.32B
$223M 13.84%
14,030,111
+2,112,796
+18% +$26.6M
AAUC
4
Allied Gold Corp
AAUC
$2.28B
$159M 9.88%
+11,791,913
New +$167M
CNL
5
Collective Mining Ltd
CNL
$1.16B
$108M 6.72%
9,916,894
+25,000
+0.3% +$254K
EGO icon
6
Eldorado Gold
EGO
$7.95B
$96.8M 6%
4,760,879
-9,585,492
-67% -$187M
PPLI
7
People Inc
PPLI
$3.07B
$76.1M 4.71%
+2,036,840
New +$73.6M
VEON icon
8
VEON
VEON
$3.67B
$67.4M 4.17%
1,462,295
-975,502
-40% -$44.9M
EDN
9
Edenor
EDN
$1.17B
$47.4M 2.94%
1,788,285
-242,751
-12% -$7.55M
IFS icon
10
Intercorp Financial Services
IFS
$6.48B
$45.3M 2.81%
1,188,211
– –
EQX icon
11
Equinox Gold
EQX
$7.14B
$44.3M 2.74%
7,699,497
+2,084,762
+37% +$13.5M
PAM icon
12
Pampa Energía
PAM
$4.73B
$34.2M 2.12%
492,578
– –
IRS
13
IRSA Inversiones y Representaciones
IRS
$1.3B
$33M 2.04%
2,367,181
+938,706
+66% +$13.4M
CCIR
14
DELISTED
Cohen Circle Acquisition Corp. I Class A Ordinary Shares
CCIR
$27.3M 1.69%
2,492,592
+641,145
+35% +$7.44M
AGRO icon
15
Adecoagro
AGRO
$1.43B
$25.8M 1.6%
2,825,500
-9,211,704
-77% -$89.8M
SLSR
16
Solaris Resources
SLSR
$1.27B
$22M 1.37%
4,811,620
+3,942,810
+454% +$16M
IHS icon
17
IHS Holding
IHS
$2.76B
$13.1M 0.81%
2,357,338
+923,684
+64% +$4.97M
CRESY
18
Cresud
CRESY
$804M
$4.25M 0.26%
398,524
+69,903
+21% +$780K
BVN icon
19
Compañía de Minas Buenaventura
BVN
$7.71B
– –
-1,707,359
Closed -$26.7M
CZR icon
20
Caesars Entertainment
CZR
$6.06B
– –
-1,164,049
Closed -$29.1M
ENIC icon
21
Enel Chile
ENIC
$6.18B
– –
-4,498,563
Closed -$14.7M
RNW icon
22
ReNew
RNW
$2.26B
– –
-210,288
Closed -$1.24M

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MG
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PCIG
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NIG
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ACIM
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ACM
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Helikon Investments's Q2 2025 Portfolio in Review

As of Q2 2025, Helikon Investments held 23 positions worth $1.61B, up 23% from $1.31B the previous quarter. Its ten largest holdings account for 87% of the portfolio.

Helikon Investments deployed $126M of net new capital in Q2 2025, opening 2 new positions and adding to 9 existing holdings. Its largest new stake was Allied Gold Corp: 11,791,913 shares worth $159M.

By sector, the portfolio is most concentrated in Materials at 41% of assets, up from 39% a quarter earlier, followed by Industrials and Consumer Discretionary.

On the sell side, the largest reduction was Eldorado Gold, an estimated $187M trimmed.

  • Helikon Investments's largest Q2 2025 buy was Allied Gold Corp: 11,791,913 shares worth $159M.
  • Helikon Investments added most to MGM Resorts International in Q2 2025, an estimated $221M increase.
  • Helikon Investments's biggest Q2 2025 reduction was Eldorado Gold, cutting an estimated $187M.
  • Helikon Investments fully exited Caesars Entertainment in Q2 2025, selling an estimated $29.1M.
  • Helikon Investments's ten largest holdings make up 87% of its $1.61B portfolio in Q2 2025.
  • Helikon Investments opened 2 new positions and closed 4 in Q2 2025.
  • Helikon Investments's portfolio value rose 23% quarter-over-quarter to $1.61B.

Based on Helikon Investments's 13F filing for Q2 2025, filed 8 Aug 2025.