Ion Asset Management Ltd.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Ion Asset Management Ltd. reported 61 stock positions worth $818.4 million. Its top holding was Teva Pharmaceutical-SP ADR (TEVA) at 13.6% of the portfolio, followed by Delek US (DK, 7.3%) and Vaneck Gold Miners ETF (GDX, 6.8%). Compared with Q2 2025, it opened 12 new positions, sold out of 9, added to 8 and reduced 23. The biggest buy was a new position in Check Point Software Tech (CHKP) and the biggest sale Teva Pharmaceutical-SP ADR (TEVA, shares −86%).
- Most Recent 13F
- Q3 2025
- Location
- Herzliya, L3
- CIK
- 0001603837
- Portfolio Value
- $818.4M (Q3 2025)
- SEC Filing
- 0001178913-25-003858 ↗ filed Nov 14, 2025
Holdings Value
Holdings 61 stocks · $818.4M
| TEVA Teva Pharmaceutical-SP ADR | 13.60% | 5,510,000 | $111.3M | Reduce -85.6% |
| DK Delek US Holdings Inc. | 7.27% | 1,845,000 | $59.5M | Reduce -50.7% |
| GDX Vaneck Gold Miners ETF | 6.77% | 724,745 | $55.4M | Reduce -26.0% |
| CHKP Check Point Software Tech | 6.54% | 258,615 | $53.5M | New |
| CSGP Costar Group Inc. | 5.50% | 534,000 | $45.1M | Reduce -54.4% |
| SLV iShares Silver Trust | 4.93% | 952,175 | $40.3M | Reduce -14.9% |
| PRGO Perrigo Co. PLC | 4.79% | 1,760,000 | $39.2M | Reduce -53.9% |
| ILMN Illumina Inc. | 4.57% | 394,000 | $37.4M | Reduce -47.5% |
| AER Aercap Holdings NV | 4.44% | 300,000 | $36.3M | Reduce -68.4% |
| DAC Danaos Corp. | 4.33% | 394,345 | $35.4M | Reduce -39.7% |
| DD Dupont DE Nemours Inc. | 4.29% | 451,000 | $35.1M | New |
| CIEN Ciena Corp. | 3.77% | 211,924 | $30.9M | Reduce -82.5% |
| PHIN Phinia Inc. | 3.75% | 533,469 | $30.7M | Reduce -14.7% |
| LW Lamb Weston Holdings Inc. | 3.73% | 524,905 | $30.5M | Reduce -67.7% |
| NXE Nexgen Energy Ltd. | 2.57% | 2,348,100 | $21.0M | Add +3404.6% |
| NMM Navios Maritime Partners LP | 2.57% | 466,000 | $21.0M | Reduce -43.0% |
| RIG Transocean Ltd. | 1.60% | 4,197,679 | $13.1M | Add +7.6% |
| OKTA Okta Inc. | 1.46% | 130,000 | $11.9M | Reduce -22.1% |
| MNDY Monday.com Ltd. | 1.30% | 55,000 | $10.7M | Add +20.1% |
| DT Dynatrace Inc. | 1.18% | 200,000 | $9.7M | Reduce -33.3% |
| XYZ Block Inc. | 1.15% | 130,000 | $9.4M | Reduce -27.8% |
| ITRI Itron Inc. | 1.10% | 72,000 | $9.0M | No change |
| ETOR Etoro Group Ltd. Class A | 1.01% | 200,000 | $8.3M | No change |
| FOLD Amicus Therapeutics Inc. | 0.84% | 872,411 | $6.9M | New |
| VRNS Varonis Systems Inc. | 0.63% | 90,000 | $5.2M | New |
| VIA Via Transportation Inc. Class A | 0.59% | 100,000 | $4.8M | New |
| CRS Carpenter Technology | 0.49% | 16,400 | $4.0M | New |
| UAN CVR Partners LP | 0.44% | 40,393 | $3.6M | Reduce -53.4% |
| MBLY Mobileye Global Inc. Class A | 0.41% | 240,000 | $3.4M | New |
| IBIT iShares Bitcoin Trust ETF | 0.32% | 40,000 | $2.6M | No change |
| GLD SPDR Gold Shares | 0.29% | 6,710 | $2.4M | No change |
| SIL Global X Silver Miners ETF | 0.27% | 30,800 | $2.2M | No change |
| KLAR Klarna Group PLC | 0.22% | 50,000 | $1.8M | New |
| GDXJ Vaneck Junior Gold Miners | 0.22% | 18,500 | $1.8M | No change |
| AEM Agnico Eagle Mines Ltd. | 0.22% | 10,530 | $1.8M | Reduce -4.9% |
| WPM Wheaton Precious Metals Corp. | 0.19% | 13,695 | $1.5M | No change |
| IBKR Interactive Brokers Gro Class A | 0.17% | 20,000 | $1.4M | No change |
| PARR Par Pacific Holdings Inc. | 0.16% | 36,860 | $1.3M | Add +16.6% |
| CMI Cummins Inc. | 0.16% | 3,085 | $1.3M | No change |
| LITE Lumentum Holdings Inc. | 0.16% | 8,000 | $1.3M | Reduce -12.9% |
| CVI CVR Energy Inc. | 0.15% | 33,385 | $1.2M | Add +20.5% |
| KTOS Kratos Defense & Security | 0.14% | 12,285 | $1.1M | Reduce -30.8% |
| KSA Ishrs MSCI Saudi Arabia ETF | 0.13% | 26,300 | $1.1M | New |
| MOS The Mosaic Co. | 0.12% | 27,150 | $942K | No change |
| TTMI TTM Technologies | 0.11% | 16,000 | $922K | Reduce -90.8% |
| VALE Vale SA-SP ADR | 0.11% | 81,800 | $888K | New |
| MP MP Materials Corp. | 0.11% | 12,985 | $871K | Reduce -58.7% |
| FCX Freeport-McMoran Inc. | 0.10% | 21,520 | $844K | No change |
| TSM Taiwan Semiconductor-SP ADR | 0.10% | 3,000 | $838K | New |
| NTR Nutrien Ltd. | 0.10% | 14,150 | $831K | No change |
| RGLD Royal Gold Inc. | 0.10% | 4,100 | $822K | No change |
| VAL Valaris Ltd. | 0.09% | 15,650 | $763K | No change |
| SCCO Southern Copper Corp. | 0.09% | 6,066 | $736K | Add +1.0% |
| ADM Archer-Daniels-Midland Co. | 0.09% | 12,185 | $728K | New |
| RTX RTX Corp. | 0.08% | 4,150 | $694K | No change |
| GNK Genco Shipping & Trading Ltd. | 0.08% | 36,465 | $649K | No change |
| GLNG Golar LNG Ltd. | 0.08% | 16,000 | $647K | Add +48.1% |
| NSC Norfolk Southern Corp. | 0.07% | 1,880 | $565K | No change |
| SBLK Star Bulk Carriers Corp. | 0.07% | 30,270 | $563K | No change |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 0.07% | 28,400 | $540K | Add +30.6% |
| EOG EOG Resources Inc. | 0.03% | 2,000 | $224K | Reduce -63.6% |
Options reported separately and not counted above: QQQ puts ($72.0M), CRWV puts ($20.1M).
Portfolio Sells Q2 2025 → Q3 2025
| TEVA Teva Pharmaceutical-SP ADR | Reduce -85.6% | 13.60% | −25.24 |
| AER Aercap Holdings NV | Reduce -68.4% | 4.44% | −2.27 |
| CIEN Ciena Corp. | Reduce -82.5% | 3.77% | −2.18 |
| PRGO Perrigo Co. PLC | Reduce -53.9% | 4.79% | −1.38 |
| LW Lamb Weston Holdings Inc. | Reduce -67.7% | 3.73% | −1.37 |
| IMAX Imax Corp. | Sold out | 0.00% | −1.31 |
| TTD Trade Desk Inc./the Class A | Sold out | 0.00% | −0.35 |
| TTMI TTM Technologies | Reduce -90.8% | 0.11% | −0.31 |
| CSGP Costar Group Inc. | Reduce -54.4% | 5.50% | −0.18 |
| MTSI Macom Technology Solutions H | Sold out | 0.00% | −0.17 |
| VOYG Voyager Technologies Inc. Class A | Sold out | 0.00% | −0.12 |
| PANW Palo Alto Networks Inc. | Sold out | 0.00% | −0.07 |
| KMI Kinder Morgan Inc. | Sold out | 0.00% | −0.05 |
| XOM Exxon Mobil Corp. | Sold out | 0.00% | −0.04 |
| PAA Plains All Amer Pipeline LP | Sold out | 0.00% | −0.03 |
| UAN CVR Partners LP | Reduce -53.4% | 0.44% | −0.02 |
| COST Costco Wholesale Corp. | Sold out | 0.00% | −0.02 |
| EOG EOG Resources Inc. | Reduce -63.6% | 0.03% | −0.01 |
| MP MP Materials Corp. | Reduce -58.7% | 0.11% | +0.04 |
| KTOS Kratos Defense & Security | Reduce -30.8% | 0.14% | +0.09 |
| LITE Lumentum Holdings Inc. | Reduce -12.9% | 0.16% | +0.11 |
| AEM Agnico Eagle Mines Ltd. | Reduce -4.9% | 0.22% | +0.14 |
| DT Dynatrace Inc. | Reduce -33.3% | 1.18% | +0.18 |
| ILMN Illumina Inc. | Reduce -47.5% | 4.57% | +0.24 |
| XYZ Block Inc. | Reduce -27.8% | 1.15% | +0.41 |
| OKTA Okta Inc. | Reduce -22.1% | 1.46% | +0.45 |
| NMM Navios Maritime Partners LP | Reduce -43.0% | 2.57% | +0.70 |
| DAC Danaos Corp. | Reduce -39.7% | 4.33% | +0.92 |
| PHIN Phinia Inc. | Reduce -14.7% | 3.75% | +2.07 |
| DK Delek US Holdings Inc. | Reduce -50.7% | 7.27% | +2.48 |
| SLV iShares Silver Trust | Reduce -14.9% | 4.93% | +2.71 |
| GDX Vaneck Gold Miners ETF | Reduce -26.0% | 6.77% | +3.69 |
Portfolio Buys Q2 2025 → Q3 2025
| CHKP Check Point Software Tech | New | 6.54% | +6.54 |
| DD Dupont DE Nemours Inc. | New | 4.29% | +4.29 |
| NXE Nexgen Energy Ltd. | Add +3404.6% | 2.57% | +2.54 |
| RIG Transocean Ltd. | Add +7.6% | 1.60% | +0.99 |
| FOLD Amicus Therapeutics Inc. | New | 0.84% | +0.84 |
| VRNS Varonis Systems Inc. | New | 0.63% | +0.63 |
| VIA Via Transportation Inc. Class A | New | 0.59% | +0.59 |
| CRS Carpenter Technology | New | 0.49% | +0.49 |
| MNDY Monday.com Ltd. | Add +20.1% | 1.30% | +0.43 |
| MBLY Mobileye Global Inc. Class A | New | 0.41% | +0.41 |
| KLAR Klarna Group PLC | New | 0.22% | +0.22 |
| KSA Ishrs MSCI Saudi Arabia ETF | New | 0.13% | +0.13 |
| PARR Par Pacific Holdings Inc. | Add +16.6% | 0.16% | +0.11 |
| VALE Vale SA-SP ADR | New | 0.11% | +0.11 |
| CVI CVR Energy Inc. | Add +20.5% | 0.15% | +0.10 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.10% | +0.10 |
| ADM Archer-Daniels-Midland Co. | New | 0.09% | +0.09 |
| SCCO Southern Copper Corp. | Add +1.0% | 0.09% | +0.05 |
| GLNG Golar LNG Ltd. | Add +48.1% | 0.08% | +0.05 |
| BEKE Ke Holdings Inc.-ADR | Add +30.6% | 0.07% | +0.04 |
Options Activity Q2 2025 → Q3 2025
| QQQ Invesco QQQ Trust Series 1 | put | Add +61.7% | 120,000 | $72.0M |
| TLT iShares 20+ Year Treasury BD | put | Sold out | 600,000 | $53.0Mbefore exit |
| IBIT iShares Bitcoin Trust ETF | put | Sold out | 450,000 | $27.5Mbefore exit |
| CRWV Coreweave Inc. Class A | put | New | 146,900 | $20.1M |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Sold out | 200,000 | $16.1Mbefore exit |
| ZIM Zim Integrated Shipping Serv | call | Sold out | 947,300 | $15.2Mbefore exit |
| FCX Freeport-McMoran Inc. | call | Sold out | 150,000 | $6.5Mbefore exit |
| CVI CVR Energy Inc. | call | Sold out | 179,600 | $4.8Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q3 2025 | 61 | $818.4M | TEVA, DK, GDX, CHKP, CSGP |
| Q2 2025 | 58 | $1.7B | TEVA, AER, PRGO, CIEN, CSGP |
| Q1 2025 | 52 | $1.4B | TEVA, AER, CIEN, PRGO, ILMN |
| Q4 2024 | 57 | $1.7B | TEVA, AER, CIEN, ILMN, PRGO |
| Q3 2024 | 62 | $1.5B | TEVA, AER, ILMN, CIEN, QRVO |
| Q2 2024 | 66 | $1.5B | TEVA, AER, CIEN, QRVO, LW |
| Q1 2024 | 37 | $1.4B | TEVA, AER, CIEN, DK, TENB |