Moon Capital Management LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Moon Capital Management LP reported 11 stock positions worth $160.7 million. Its top holding was iShares Gold Trust (IAU) at 78.8% of the portfolio, followed by SS SPDR Dow Jones Indus Avg (DIA, 4.2%) and I-80 Gold (IAUX, 3.8%). Compared with Q3 2025, it opened 3 new positions, sold out of 3, added to 1 and reduced 4. The biggest buy was a new position in SS SPDR Dow Jones Indus Avg (DIA) and the biggest sale an exit from Borgwarner (BWA).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001387303
- Portfolio Value
- $160.7M (Q4 2025)
- SEC Filing
- 0001214659-26-001901 ↗ filed Feb 17, 2026
Holdings Value
Holdings 11 stocks · $160.7M
| IAU iShares Gold Trust | 78.76% | 1,559,604 | $126.6M | No change |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 4.18% | 13,978 | $6.7M | New |
| IAUX I-80 Gold Corp. | 3.77% | 3,000,000 | $6.1M | No change |
| APTV Aptiv PLC | 3.65% | 77,093 | $5.9M | New |
| GDX Vaneck Gold Miners ETF | 3.15% | 59,123 | $5.1M | No change |
| GM General Motors Co. | 2.23% | 44,163 | $3.6M | Add +2.8% |
| GDXJ Vaneck Junior Gold Miners | 1.69% | 23,927 | $2.7M | Reduce -41.1% |
| LEA Lear Corp. | 0.99% | 13,870 | $1.6M | Reduce -23.1% |
| AGRO Adecoagro SA | 0.95% | 191,662 | $1.5M | New |
| LAD Lithia Motors Inc. | 0.43% | 2,085 | $693K | Reduce -72.6% |
| EWZ iShares MSCI Brazil ETF | 0.19% | 9,597 | $305K | Reduce -67.6% |
Portfolio Sells Q3 2025 → Q4 2025
| BWA Borgwarner Inc. | Sold out | 0.00% | −1.44 |
| LAD Lithia Motors Inc. | Reduce -72.6% | 0.43% | −1.34 |
| GDXJ Vaneck Junior Gold Miners | Reduce -41.1% | 1.69% | −1.27 |
| VOXR Vox Royalty Corp. | Sold out | 0.00% | −0.57 |
| EWZ iShares MSCI Brazil ETF | Reduce -67.6% | 0.19% | −0.49 |
| ABG Asbury Automotive Group | Sold out | 0.00% | −0.39 |
| LEA Lear Corp. | Reduce -23.1% | 0.99% | −0.35 |
Portfolio Buys Q3 2025 → Q4 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 |