Moon Capital Management LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed February 17, 2026), Moon Capital Management LP reported 11 stock positions worth $135.9 million. Its top holding was iShares Gold Trust (IAU) at 83.5% of the portfolio, followed by Vaneck Gold Miners ETF (GDX, 3.3%) and Vaneck Junior Gold Miners (GDXJ, 3.0%). Compared with Q2 2025, it opened 3 new positions, sold out of 5 and reduced 4. The biggest buy was a new position in General Motors (GM) and the biggest sale an exit from Millicom Intl Cellular (TIGO).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001387303
- Portfolio Value
- $135.9M (Q3 2025)
- SEC Filing
- 0001214659-26-001900 ↗ filed Feb 17, 2026
Holdings Value
Holdings 11 stocks · $135.9M
| IAU iShares Gold Trust | 83.50% | 1,559,604 | $113.5M | No change |
| GDX Vaneck Gold Miners ETF | 3.32% | 59,123 | $4.5M | No change |
| GDXJ Vaneck Junior Gold Miners | 2.96% | 40,627 | $4.0M | No change |
| IAUX I-80 Gold Corp. | 2.11% | 3,000,000 | $2.9M | No change |
| GM General Motors Co. | 1.93% | 42,954 | $2.6M | New |
| LAD Lithia Motors Inc. | 1.77% | 7,615 | $2.4M | Reduce -29.5% |
| BWA Borgwarner Inc. | 1.44% | 44,489 | $2.0M | Reduce -51.3% |
| LEA Lear Corp. | 1.34% | 18,045 | $1.8M | New |
| EWZ iShares MSCI Brazil ETF | 0.68% | 29,597 | $918K | Reduce -60.3% |
| VOXR Vox Royalty Corp. | 0.57% | 180,000 | $774K | New |
| ABG Asbury Automotive Group | 0.39% | 2,153 | $526K | Reduce -79.8% |
Portfolio Sells Q2 2025 → Q3 2025
| TIGO Millicom Intl Cellular S.A. | Sold out | 0.00% | −6.15 |
| DAN Dana Inc. | Sold out | 0.00% | −1.66 |
| ABG Asbury Automotive Group | Reduce -79.8% | 0.39% | −1.55 |
| ALV Autoliv Inc. | Sold out | 0.00% | −1.40 |
| CSANY Cosan SA -ADR | Sold out | 0.00% | −1.24 |
| PCAR Paccar Inc. | Sold out | 0.00% | −1.13 |
| LAD Lithia Motors Inc. | Reduce -29.5% | 1.77% | −1.00 |
| EWZ iShares MSCI Brazil ETF | Reduce -60.3% | 0.68% | −0.96 |
| BWA Borgwarner Inc. | Reduce -51.3% | 1.44% | −0.89 |
Portfolio Buys Q2 2025 → Q3 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 14 | $148.1M | IAU, GDX, IAUX, BWA, APTV |
| Q1 2026 | 13 | $165.6M | IAU, APTV, GDX, IAUX, GDXJ |
| Q4 2025 | 11 | $160.7M | IAU, DIA, IAUX, APTV, GDX |
| Q3 2025Amended | 11 | $135.9M | IAU, GDX, GDXJ, IAUX, GM |
| Q2 2025 | 13 | $131.5M | IAU, TIGO, LAD, GDX, BWA |
| Q1 2025 | 12 | $126.2M | IAU, TIGO, CSANY, BWA, ALV |
| Q4 2024 | 17 | $131.5M | IAU, SPY, CSANY, IHS, ITUB |
| Q3 2024 | 17 | $138.2M | IAU, CSANY, IAUX, EWZ, APTV |
| Q2 2024 | 16 | $118.1M | IAU, IAUX, CSANY, VC, EWZ |
| Q1 2024 | 14 | $99.6M | IAU, BWA, APTV, EWZ, GM |