Helikon Investments Limited and Federico Riggio filed an amendment to their Schedule 13G/A reporting beneficial ownership of 4,906,222 common shares (held as ADRs) of IRSA Inversiones y Representaciones SA, representing 6.35% of the class based on 77,305,770 shares outstanding. The filing identifies shared voting and dispositive power of 4,906,222 shares and confirms the holdings are reported on behalf of Helikon Long Short Equity Fund Master ICAV and related parties.
Positive
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Negative
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Insights
Amendment clarifies Helikon/Federico Riggio’s 6.35% stake and shared control of 4,906,222 shares.
The filing shows 4,906,222 shares of common stock represented by ADRs, corresponding to 6.35% of the class on a 77,305,770-share base. Ownership is reported as shared voting and dispositive power via Helikon Fund and Helikon UK.
Cash‑flow treatment and any trading plans are not disclosed in the excerpt; subsequent filings would show any transactional activity.
Schedule 13G/A amendment formalizes joint filing and reporting responsibilities under Rule 13d-1(k).
The joint filing statement in Exhibit I confirms the parties agree to file future amendments on behalf of each other. The cover rows cited supply the numeric ownership fields and the calculation base of 77,305,770 shares outstanding.
Investors should note this is a beneficial-ownership disclosure; it does not itself indicate a change in holdings or intent to trade.
Key Figures
Shares beneficially owned:4,906,222 sharesPercent of class:6.35%Shares outstanding:77,305,770 shares+2 more
5 metrics
Shares beneficially owned4,906,222 sharesreported shared voting/dispositive power
Percent of class6.35%based on 77,305,770 shares outstanding
Shares outstanding77,305,770 sharesaggregate used to calculate percentage
ADR ratio1 ADR = 10 common sharesAmerican Depositary Receipts represent ten common shares
CUSIP450047303CUSIP for the ADR class
Key Terms
American Depositary Receipts (ADRs), shared dispositive power, Schedule 13G/A
3 terms
American Depositary Receipts (ADRs)financial
"ADRs, each representing ten common shares"
American depositary receipts (ADRs) are certificates issued by a U.S. bank that represent ownership of shares in a foreign company, letting those shares trade on U.S. exchanges in U.S. dollars. Think of an ADR as a U.S. receipt for a foreign stock: it makes buying and selling simpler and subjects the investment to familiar U.S. trading rules, which matters to investors because it improves access and liquidity while still carrying risks like currency moves and different dividend handling.
shared dispositive powerregulatory
"Shared Dispositive Power 4,906,222.00"
Schedule 13G/Aregulatory
"Amendment to Schedule 13G/A reporting beneficial ownership"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
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Helikon Investments Limited and Federico Riggio report beneficial ownership of 4,906,222 common shares (as ADRs), representing 6.35% of the class based on 77,305,770 shares outstanding.
How are the shares held and what voting power is reported?
The filing states the shares are held via Helikon Long Short Equity Fund Master ICAV and Helikon UK, with shared voting and shared dispositive power over 4,906,222 shares.
Does this amendment indicate a sale or purchase of IRSA shares?
This Schedule 13G/A amendment is a disclosure of beneficial ownership and joint filing arrangements; it does not itself state any purchase or sale transactions or provide cash‑flow details.
What legal instrument represents the underlying shares?
The securities reported are American Depositary Receipts (ADRs), with each ADR representing ten common shares of IRSA Inversiones y Representaciones SA, as stated in the filing.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
IRSA Inversiones y Representaciones SA
(Name of Issuer)
American Depositary Receipts, or ADRs, each representing ten common shares
(Title of Class of Securities)
450047303
(CUSIP Number)
06/30/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
450047303
1
Names of Reporting Persons
Helikon Investments Limited
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED KINGDOM
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
4,906,222.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
4,906,222.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,906,222.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.35 %
12
Type of Reporting Person (See Instructions)
IA, PN
SCHEDULE 13G
CUSIP Number(s):
450047303
1
Names of Reporting Persons
Federico Riggio
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
ITALY
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
4,906,222.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
4,906,222.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,906,222.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.35 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
IRSA Inversiones y Representaciones SA
(b)
Address of issuer's principal executive offices:
CARLOS M. DELLA PAOLERA 261, 9TH FLOOR, BUENOS AIRES, Argentina, C1C1001ADA
Item 2.
(a)
Name of person filing:
(i) Helikon Investments Limited a United Kingdom public limited company ("Helikon UK"), with respect to the common shares without par value (the "Common Shares") of IRSA Inversiones y Representaciones SA., an Argentinian company (the "Company"), held by Helikon Long Short Equity Fund Master ICAV (the "Helikon Fund") managed by Helikon UK; and
(ii) Federico Riggio ("Mr. Riggio", and together with Helikon UK, the "Reporting Persons"), with respect to the Common Shares directly held by the Helikon Fund
(b)
Address or principal business office or, if none, residence:
(i) Helikon UK; 17 Waterloo Place, London SW1Y 4AR.
(ii) Mr. Riggio 17 Waterloo Place, London SW1Y 4AR.
(c)
Citizenship:
(i) Helikon UK is a United Kingdom public limited company organized under the laws of the United Kingdom.
(ii) Mr. Riggio is a citizen of the Italy.
(d)
Title of class of securities:
American Depositary Receipts, or ADRs, each representing ten common shares
(e)
CUSIP No.:
450047303
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Helikon UK is an investment manager, authorized and regulated by the Financial Conduct Authority in the United Kingdom which is comparable to the regulatory scheme applicable to the investment advisers covered by Item 3(e) above.
Item 4.
Ownership
(a)
Amount beneficially owned:
The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 77,305,770 Shares outstanding.
(b)
Percent of class:
6.35%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iii) Sole power to dispose or to direct the disposition of:
The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iv) Shared power to dispose or to direct the disposition of:
The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
See Item 2(a).
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Helikon Investments Limited
Signature:
/s/ Paul McLernon
Name/Title:
Paul McLernon - Director
Date:
07/09/2026
Federico Riggio
Signature:
/s/ Federico Riggio
Name/Title:
Federico Riggio
Date:
07/09/2026
Exhibit Information
Exhibit I
JOINT FILING STATEMENT
PURSUANT TO RULE 13d-1(k)
The undersigned acknowledge and agree that the foregoing statement on Schedule 13G, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.
Dated: July 9, 2026
Helikon Investments Limited
By: /s/ Paul McLernon
Paul McLernon | Director
Federico Riggio
By: /s/ Federico Riggio
