Helikon Investments Limited
Helikon Investments Limited, managed by David Grazzini, reported 18 positions worth $3.35B in its 2026 Q2 13F filing: 2 new and 1 closed.
Estimated return
Since 2025 Q2 the disclosed positions returned an estimated +70.4% against +34.4% for the S&P 500. Price-only return of the fund's top 100 US longs at each quarter start, vs the S&P 500 over the same windows. Not the fund's actual return (no trades, fees, shorts, derivatives, cash).
| Quarter | Fund | S&P 500 |
|---|---|---|
| 2025 Q2 | +12.0% | +11.4% |
| 2025 Q3 | +10.2% | +7.6% |
| 2025 Q4 | +27.2% | +3.1% |
| 2026 Q1 | +14.8% | -5.8% |
| 2026 Q2 | -5.4% | +15.5% |
Top holdings, 2026 Q2
| Ticker | Company | Value | Portfolio % | Change |
|---|---|---|---|---|
| SKE | SKEENA RES LTD NEW | $448.50M | 13.40% | +2.2% |
| ABVX | ABIVAX SA | $371.41M | 11.10% | +175% |
| EGO | ELDORADO GOLD CORP NEW | $347.59M | 10.40% | NEW |
| CAAP | CORPORACION AMER ARPTS S A | $342.31M | 10.20% | +3.3% |
| AAUC | ALLIED GOLD CORP | $274.98M | 8.20% | -5.8% |
| PPLI | PEOPLE INC | $260.92M | 7.80% | +60.7% |
| SGHC | SUPER GROUP SGHC LIMITED | $233.92M | 7.00% | +83.2% |
| SVM | SILVERCORP METALS INC | $176.12M | 5.30% | +8.2% |
| FLUT | FLUTTER ENTMT PLC | $159.91M | 4.80% | +8.7% |
| SLSR | SOLARIS RES INC | $158.84M | 4.70% | +21.9% |
| CNL | COLLECTIVE MINING LTD | $130.52M | 3.90% | -3% |
| QGEN | QIAGEN NV | $120.63M | 3.60% | +70.6% |
| MGM | MGM RESORTS INTERNATIONAL | $96.81M | 2.90% | -29.6% |
| IRS | IRSA INVERSIONES Y REP S A | $75.75M | 2.30% | +10.8% |
| NEWP | NEW PAC METALS CORP | $74.12M | 2.20% | +85.6% |
| HSLV | HIGHLANDER SILVER CORP | $37.32M | 1.10% | +54.9% |
| AEM | AGNICO EAGLE MINES LTD | $22.66M | 0.68% | NEW |
| EDN | EMPRESA DIST Y COMERCIAL NOR | $15.16M | 0.45% | -54.4% |
All funds · Hedge Fund Tracker
Source: SEC EDGAR 13F filings, reported as of quarter end and filed up to 45 days later. Not investment advice.