Ion Asset Management Ltd. In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 15, 2025), Ion Asset Management Ltd. reported 58 stock positions worth $1.7 billion . Its top holding was Teva Pharmaceutical-SP ADR (TEVA) at 38.8% of the portfolio, followed by Aercap (AER, 6.7% ) and Perrigo (PRGO, 6.2% ). Compared with Q1 2025, it opened 13 new positions, sold out of 7, added to 14 and reduced 18. The biggest buy was a new position in Lamb Weston (LW) and the biggest sale Teva Pharmaceutical-SP ADR (TEVA, shares −2% ).
Location Herzliya, L3
CIK 0001603837
Portfolio Value $1.7B (Q2 2025) Holdings 58 stocks · $1.7B Holdings quarter Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2025 TEVA Teva Pharmaceutical-SP ADR 38,347,875 $642.7M Reduce -1.8% AER Aercap Holdings NV 948,983 $111.0M Reduce -8.4% PRGO Perrigo Co. PLC 3,817,621 $102.0M Add +34.7% CIEN Ciena Corp. 1,211,264 $98.5M Reduce -10.7% CSGP Costar Group Inc. 1,169,833 $94.1M Add +730.3% LW Lamb Weston Holdings Inc. 1,627,358 $84.4M New DK Delek US Holdings Inc. 3,743,890 $79.3M Add +1.8% ILMN Illumina Inc. 750,921 $71.6M Add +2.3% DAC Danaos Corp. 654,308 $56.4M Add +15.5% GDX Vaneck Gold Miners ETF 978,970 $51.0M Add +0.5% SLV iShares Silver Trust 1,119,400 $36.7M Add +1.2% NMM Navios Maritime Partners LP 817,963 $30.8M Add +2.2% PHIN Phinia Inc. 625,412 $27.8M Reduce -2.1% IMAX Imax Corp. 777,800 $21.7M Reduce -14.5% OKTA Okta Inc. 166,871 $16.7M Reduce -15.0% DT Dynatrace Inc. 300,000 $16.6M Add +15.4% MNDY Monday.com Ltd. 45,780 $14.4M Add +15.1% ETOR Etoro Group Ltd. Class A 200,000 $13.3M New XYZ Block Inc. 180,000 $12.2M No change RIG Transocean Ltd. 3,900,000 $10.1M Reduce -9.3% ITRI Itron Inc. 72,000 $9.5M No change UAN CVR Partners LP 86,600 $7.7M No change TTMI TTM Technologies 173,179 $7.1M Reduce -47.5% TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 80,000 $5.8M Reduce -42.9% MTSI Macom Technology Solutions H 20,000 $2.9M Add +53.9% IBIT iShares Bitcoin Trust ETF 40,000 $2.4M No change GLD SPDR Gold Shares 6,710 $2.0M Reduce -2.7% VOYG Voyager Technologies Inc. Class A 50,000 $2.0M New SIL Global X Silver Miners ETF 30,800 $1.5M Add +15.4% AEM Agnico Eagle Mines Ltd. 11,070 $1.3M No change GDXJ Vaneck Junior Gold Miners 18,500 $1.3M Reduce -8.6% WPM Wheaton Precious Metals Corp. 13,695 $1.2M Reduce -12.8% PANW Palo Alto Networks Inc. 5,700 $1.2M Reduce -18.0% IBKR Interactive Brokers Gro Class A 20,000 $1.1M New MP MP Materials Corp. 31,430 $1.0M New CMI Cummins Inc. 3,085 $1.0M Reduce -10.6% MOS The Mosaic Co. 27,150 $990K New FCX Freeport-McMoran Inc. 21,520 $933K Reduce -78.8% LITE Lumentum Holdings Inc. 9,186 $873K New KMI Kinder Morgan Inc. 28,700 $844K No change PARR Par Pacific Holdings Inc. 31,600 $838K New NTR Nutrien Ltd. 14,150 $824K No change KTOS Kratos Defense & Security 17,740 $824K New CVI CVR Energy Inc. 27,700 $744K New RGLD Royal Gold Inc. 4,100 $729K New XOM Exxon Mobil Corp. 6,150 $663K No change VAL Valaris Ltd. 15,650 $659K No change EOG EOG Resources Inc. 5,500 $658K No change SCCO Southern Copper Corp. 6,006 $608K Add +1.0% RTX RTX Corp. 4,150 $606K Add +36.1% SBLK Star Bulk Carriers Corp. 30,270 $522K No change NSC Norfolk Southern Corp. 1,880 $481K Reduce -24.8% GNK Genco Shipping & Trading Ltd. 36,465 $477K Reduce -6.6% NXE Nexgen Energy Ltd. 67,000 $465K New GLNG Golar LNG Ltd. 10,805 $445K No change PAA Plains All Amer Pipeline LP 24,200 $443K No change BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 21,750 $386K New COST Costco Wholesale Corp. 295 $292K Reduce -26.3%
Options reported separately and not counted above: TLT puts ($53.0M), QQQ puts ($40.9M), IBIT puts ($27.5M), HYG puts ($16.1M), ZIM calls ($15.2M), FCX calls ($6.5M), CVI calls ($4.8M).
Portfolio Sells Q1 2025 → Q2 2025 Portfolio Sells quarter Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▲ TEVA Teva Pharmaceutical-SP ADR Reduce -1.8% 38.84% −5.25 SEDG Solaredge Technologies Inc. Sold out 0.00% −2.48 AER Aercap Holdings NV Reduce -8.4% 6.71% −1.07 OKTA Okta Inc. Reduce -15.0% 1.01% −0.51 IMAX Imax Corp. Reduce -14.5% 1.31% −0.45 PI Impinj Inc. Sold out 0.00% −0.39 RIG Transocean Ltd. Reduce -9.3% 0.61% −0.39 PHIN Phinia Inc. Reduce -2.1% 1.68% −0.31 FCX Freeport-McMoran Inc. Reduce -78.8% 0.06% −0.23 TTD Trade Desk Inc./the Class A Reduce -42.9% 0.35% −0.21 ASHR Xtrackers Harvest Csi 300 CH Sold out 0.00% −0.21 QRVO Qorvo Inc. Sold out 0.00% −0.12 CIEN Ciena Corp. Reduce -10.7% 5.95% −0.07 TTMI TTM Technologies Reduce -47.5% 0.43% −0.07 MPC Marathon Petroleum Corp. Sold out 0.00% −0.05 MRVL Marvell Technology Inc. Sold out 0.00% −0.04 PR Permian Resources Corp. Class A Sold out 0.00% −0.03 GLD SPDR Gold Shares Reduce -2.7% 0.12% −0.02 CMI Cummins Inc. Reduce -10.6% 0.06% −0.02 PANW Palo Alto Networks Inc. Reduce -18.0% 0.07% −0.02 WPM Wheaton Precious Metals Corp. Reduce -12.8% 0.07% −0.02 NSC Norfolk Southern Corp. Reduce -24.8% 0.03% −0.01 COST Costco Wholesale Corp. Reduce -26.3% 0.02% −0.01 GDXJ Vaneck Junior Gold Miners Reduce -8.6% 0.08% −0.01 GNK Genco Shipping & Trading Ltd. Reduce -6.6% 0.03% −0.01
Portfolio Buys Q1 2025 → Q2 2025 Portfolio Buys quarter Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▼ LW Lamb Weston Holdings Inc. New 5.10% +5.10 CSGP Costar Group Inc. Add +730.3% 5.68% +4.86 ETOR Etoro Group Ltd. Class A New 0.80% +0.80 DK Delek US Holdings Inc. Add +1.8% 4.79% +0.72 PRGO Perrigo Co. PLC Add +34.7% 6.16% +0.32 DAC Danaos Corp. Add +15.5% 3.41% +0.16 MNDY Monday.com Ltd. Add +15.1% 0.87% +0.16 VOYG Voyager Technologies Inc. Class A New 0.12% +0.12 DT Dynatrace Inc. Add +15.4% 1.00% +0.10 MTSI Macom Technology Solutions H Add +53.9% 0.17% +0.08 IBKR Interactive Brokers Gro Class A New 0.07% +0.07 MP MP Materials Corp. New 0.06% +0.06 MOS The Mosaic Co. New 0.06% +0.06 LITE Lumentum Holdings Inc. New 0.05% +0.05 ILMN Illumina Inc. Add +2.3% 4.33% +0.05 PARR Par Pacific Holdings Inc. New 0.05% +0.05 KTOS Kratos Defense & Security New 0.05% +0.05 CVI CVR Energy Inc. New 0.04% +0.04 RGLD Royal Gold Inc. New 0.04% +0.04 NXE Nexgen Energy Ltd. New 0.03% +0.03 BEKE Ke Holdings Inc.-ADR New 0.02% +0.02 SIL Global X Silver Miners ETF Add +15.4% 0.09% +0.01 RTX RTX Corp. Add +36.1% 0.04% +0.01 SCCO Southern Copper Corp. Add +1.0% 0.04% −0.00 GDX Vaneck Gold Miners ETF Add +0.5% 3.08% −0.21 SLV iShares Silver Trust Add +1.2% 2.22% −0.30 NMM Navios Maritime Partners LP Add +2.2% 1.86% −0.45
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ TLT iShares 20+ Year Treasury BD put New 600,000 $53.0M QQQ Invesco QQQ Trust Series 1 put Reduce -74.9% 74,200 $40.9M IBIT iShares Bitcoin Trust ETF put New 450,000 $27.5M HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Reduce -50.0% 200,000 $16.1M ZIM Zim Integrated Shipping Serv call New 947,300 $15.2M EWZ iShares MSCI Brazil ETF call Sold out 250,000 $6.5Mbefore exit CVI CVR Energy Inc. call New 179,600 $4.8M XLE SS Energy Select Sector call Sold out 30,000 $2.8Mbefore 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