Moon Capital Management LP

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Moon Capital Management LP reported 17 stock positions worth $131.5 million. Its top holding was iShares Gold Trust (IAU) at 58.7% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 10.9%) and Cosan SA -ADR (CSANY, 5.0%). Compared with Q3 2024, it opened 7 new positions, sold out of 7, added to 2 and reduced 3. The biggest buy was a new position in SS SPDR S&P 500 ETF Trust-US (SPY) and the biggest sale iShares MSCI Brazil ETF (EWZ, shares −95%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001387303
Portfolio Value
$131.5M (Q4 2024)
SEC Filing
0001387303-25-000001 ↗ filed Feb 14, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $99.6M Q1 2024 Q2 2024: $118.1M Q2 2024 Q3 2024: $138.2M Q3 2024 Q4 2024: $131.5M $131.5M Q4 2024 Q1 2025: $126.2M Q1 2025 Q2 2025: $131.5M Q2 2025 Q3 2025: $135.9M Q3 2025 Q4 2025: $160.7M Q4 2025 Q1 2026: $165.6M Q1 2026 Q2 2026: $148.1M Q2 2026

Holdings 17 stocks · $131.5M
IAU iShares Gold Trust 58.72% 1,559,604 $77.2M No change
SPY SS SPDR S&P 500 ETF Trust-US 10.86% 24,373 $14.3M New
CSANY Cosan SA -ADR 5.03% 1,217,023 $6.6M Add +32.5%
IHS Ihs Holding Ltd. 4.03% 1,814,156 $5.3M Add +25.9%
ITUB Itau Unibanco H-Spon PRF ADR 3.77% 1,000,000 $5.0M New
AN Autonation Inc. 2.72% 21,089 $3.6M New
IAUX I-80 Gold Corp. 2.21% 6,000,000 $2.9M No change
ALV Autoliv Inc. 2.20% 30,867 $2.9M New
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 2.19% 6,773 $2.9M New
STLA Stellantis NV 1.86% 187,017 $2.4M New
GDX Vaneck Gold Miners ETF 1.52% 59,123 $2.0M No change
GDXJ Vaneck Junior Gold Miners 1.32% 40,627 $1.7M No change
BABA Alibaba Group Holding-SP ADR 1.24% 19,294 $1.6M Reduce -49.6%
TIGO Millicom Intl Cellular S.A. 1.06% 55,997 $1.4M No change
BWA Borgwarner Inc. 0.71% 29,399 $935K Reduce -73.7%
PDD PDD Holdings Inc. 0.37% 5,000 $485K New
EWZ iShares MSCI Brazil ETF 0.16% 9,597 $216K Reduce -95.4%

Portfolio Sells Q3 2024 → Q4 2024
EWZ iShares MSCI Brazil ETF Reduce -95.4% 0.16% −4.31
APTV Aptiv Irish Holdings Ltd. Sold out 0.00% −3.77
F Ford Motor Co. Sold out 0.00% −3.61
VC Visteon Corp. Sold out 0.00% −2.60
BWA Borgwarner Inc. Reduce -73.7% 0.71% −2.23
LEA Lear Corp. Sold out 0.00% −2.16
BABA Alibaba Group Holding-SP ADR Reduce -49.6% 1.24% −1.70
GPI Group 1 Automotive Inc. Sold out 0.00% −1.04
ABG Asbury Automotive Group Sold out 0.00% −0.89
LAD Lithia Motors Inc. Sold out 0.00% −0.73

Portfolio Buys Q3 2024 → Q4 2024
SPY SS SPDR S&P 500 ETF Trust-US New 10.86% +10.86
ITUB Itau Unibanco H-Spon PRF ADR New 3.77% +3.77
AN Autonation Inc. New 2.72% +2.72
ALV Autoliv Inc. New 2.20% +2.20
DIA SS SPDR Dow Jones Indus Avg New 2.19% +2.19
STLA Stellantis NV New 1.86% +1.86
IHS Ihs Holding Ltd. Add +25.9% 4.03% +0.91
PDD PDD Holdings Inc. New 0.37% +0.37
CSANY Cosan SA -ADR Add +32.5% 5.03% −1.32

Options Activity Q3 2024 → Q4 2024
PDD PDD Holdings Inc. call Sold out 5,000 $674Kbefore exit
NKE Nike Inc. Class B call Sold out 2,500 $221Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 14$148.1MIAU, GDX, IAUX, BWA, APTV
Q1 2026 13$165.6MIAU, APTV, GDX, IAUX, GDXJ
Q4 2025 11$160.7MIAU, DIA, IAUX, APTV, GDX
Q3 2025Amended 11$135.9MIAU, GDX, GDXJ, IAUX, GM
Q2 2025 13$131.5MIAU, TIGO, LAD, GDX, BWA
Q1 2025 12$126.2MIAU, TIGO, CSANY, BWA, ALV
Q4 2024 17$131.5MIAU, SPY, CSANY, IHS, ITUB
Q3 2024 17$138.2MIAU, CSANY, IAUX, EWZ, APTV
Q2 2024 16$118.1MIAU, IAUX, CSANY, VC, EWZ
Q1 2024 14$99.6MIAU, BWA, APTV, EWZ, GM