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IRSIrsa Investments & Representations Inc · Insider ownership research

Irsa Investments & Representations Inc insiders sold $64.8M since March 18, 2026. How much of their stake is that?

0% was sold under disclosed trading plans, 100% with no plan disclosed. The largest seller, Eduardo Elsztain (Director), sold $64.8M.Share-of-stake figures for this company are being verified and will be added when that check is finished. Why

Updated Oct 16, 2026 from SEC filings · covers Mar 18, 2026 to Oct 16, 2026

Officers and directors of non-US companies only began filing Forms 3 and 4 on March 18, 2026 (a new SEC rule), so this page covers the period since then. Their 10% holders still do not file. The SEC rule

$64.8M
sold with no plan disclosed, since March 18, 2026
0%
of sales were under disclosed trading plans, since March 18, 2026
3 of 7
officers and directors sold shares, since March 18, 2026
Latest filing: Filed Sep 22 for a gift on Aug 20. Alejandro Elsztain gave away 6.6K shares. Filing
SEC ownership filings: 22 filed from Mar 18, 2026 to Oct 16, 2026; 22 on record since Mar 18, 2026 · See the evidence

What stands out

Eduardo Elsztain sold $64.8M of stock with no disclosed trading plan. The filings don't state a reason.Largest such sale, Mar 19, 2026

A share of stake is shown for 0 of the 3 officers and directors who sold. 7 are left out

i
Left out: Eduardo Elsztain, Alejandro Elsztain, Saul Zang, Matias Gaivironsky, Nicolas Bendersky, Jorge Cruces and Fernando Elsztain (share of stake is being verified).
Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, since March 18, 2026. Their share of stake is being verified and is not shown yet; amounts and trading plans are below.

Eduardo Elsztain
Director
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$64.8MNo plan disclosed
Jorge Cruces
Chief Investment Officer
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$38KNo plan disclosed
Fernando Elsztain
Director
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$9KNo plan disclosed
Amounts, filings and trading plans for each seller

Selling by month

Officers and directors, Mar 2026 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

No plan disclosedOne dollar scale for every month; the tallest bar is labeled
Mar 2026: $64.8M no plan disclosed$64.8MMarApr 2026: $9K no plan disclosedAprMayJun 2026: $38K no plan disclosedJunJulAugSepOct

Recent activity

Past 30 days, Sep 17, 2026 to Oct 16, 2026

No officer or director trades were reported for the past 30 days. The most recent before that:

Aug 20, 2026Alejandro Elsztain gave away 6.6K shares as a gift.
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
Alejandro Elsztain
Director
6,645n/an/an/aAug 20, 2026Sep 22, 2026

Common questions

Why are Irsa Investments & Representations Inc insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 0% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 100% had no disclosed plan. A trading plan schedules sales in advance.

Are any Irsa Investments & Representations Inc insiders buying?

No. Officers and directors reported no purchases since March 18, 2026.

The evidence

Who sold3 officers and directors: amount, % of holdings, trading plan
Who soldAmount% of holdingsTrading plan
Eduardo Elsztain
Director
$64.8M
30K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
Jorge Cruces
Chief Investment Officer
$38K
25K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
Fernando Elsztain
Director
$9K
5.5K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
The full ownership picture0 of 7 officers and directors confirmed

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

InsiderHeld Mar 17, 2026SoldHeld Oct 16, 2026Still held
Eduardo Elsztain
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Eduardo Elsztain are complete.
Director
n/a−30Kn/an/a
Vesting, gifts, unvested awards and holding lines for Eduardo Elsztain

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Eduardo Elsztain are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Alejandro Elsztain
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Alejandro Elsztain are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Alejandro Elsztain

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Alejandro Elsztain are complete; balances and unit counts will be added when the check is finished.

−6.6Kgifted (net of own trusts)
Saul Zang
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Saul Zang are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Saul Zang

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Saul Zang are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Matias Gaivironsky
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Matias Gaivironsky are complete.
CFO
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Matias Gaivironsky

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Matias Gaivironsky are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Nicolas Bendersky
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Nicolas Bendersky are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Nicolas Bendersky

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Nicolas Bendersky are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Jorge Cruces
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Jorge Cruces are complete.
Chief Investment Officer
n/a−25Kn/an/a
Vesting, gifts, unvested awards and holding lines for Jorge Cruces

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Jorge Cruces are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Fernando Elsztain
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Fernando Elsztain are complete.
Director
n/a−5.5Kn/an/a
Vesting, gifts, unvested awards and holding lines for Fernando Elsztain

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Fernando Elsztain are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Holdings and share of stake for Irsa Investments & Representations Inc are being verified, so no balances, unit counts or percentages are shown. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings.

What explains the selling$64.8M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $64.8M across 60,865 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

No plan disclosed · $64.8M

Sales with no 10b5-1 plan and no tax reference in the filing. $64.8M of it is Eduardo Elsztain. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Eduardo Elsztain, Mar 19, 2026

SellerShares soldProceedsUnder a disclosed planShare of totalSales dates
Eduardo Elsztain
Director
30K$64.8M0%99.9%Mar 18, 2026 to Mar 19, 2026
Jorge Cruces
Chief Investment Officer
25K$38K0%0.1%Jun 30, 2026 to Jun 30, 2026
Fernando Elsztain
Director
5.5K$9K0%0.0%Apr 9, 2026 to Apr 9, 2026

Sales by month

MonthSale proceedsDisclosed planTo cover taxesNo plan disclosed
Mar 2026$64.8M$0$0$64.8M
Apr 2026$9K$0$0$9K
May 2026$0$0$0$0
Jun 2026$38K$0$0$38K
Jul 2026$0$0$0$0
Aug 2026$0$0$0$0
Sep 2026$0$0$0$0
Oct 2026$0$0$0$0
Known gaps and uncertainty7 officers and directors not confirmed

Holdings and share of stake are being verified. Balances, unit counts and every share-of-stake figure for Irsa Investments & Representations Inc are held back until that check is finished. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings and are complete.

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology22 filings on record, 22 filed since March 18, 2026, and how we read them

All 22 Forms 3, 4 and 5 on record for Irsa Investments & Representations Inc (SEC CIK 933267), filed from Mar 18, 2026 to Sep 22, 2026; 22 of them were filed in the 12 months this page covers, retrieved from SEC EDGAR on Oct 16, 2026. Prices are the ones reported in each filing, often weighted averages. 57 filings were left out because Irsa Investments & Representations Inc filed them as an owner of another company's stock.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (7)No filing in 18 months; last reported balances, not in any total
NameLast filedLast reported balance
Daniel ElsztainNo balance on record
Maria BearziNo balance on record
Liliana De NadaiNo balance on record
Mauricio WiorNo balance on record
Ben ElsztainNo balance on record
Oscar BergottoNo balance on record
David WilliamsNo balance on record

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