Ion Asset Management Ltd.

CIK

1603837

Location

George Town, Grand Cayman, E9

Portfolio Value

Small $859,041,854

Diversification

Diversified

Filing Date

Global Rank

#1,967 / 7,986 ▼ 711 · as of Sep 2025

Top Industry

Drug Manufacturers - Specialty & Generic 20.3%

3Y Alpha vs SPY

+15.8%

Period ended 9 months ago

Filed Nov 14, 2025 · 8mo

23 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+155.4%

SPY

+76.5%

Annualised alpha

+15.8%

Max drawdown

−32.6%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

59 positions · as of Sep 30, 2025 · Δ vs Jun 30, 2025

Top Position

13.0%

−24.9 pts

Top 5

39.7%

−22.1 pts

Top 10

62.7%

−18.7 pts

HHI

544

Diversified−1,139

Portfolio Trend

23 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2025

Sector	% Portfolio	Value	Positions
Healthcare	22.7%	$194,789,978	4
Technology	19.6%	$168,153,083	13
Unclassified	13.7%	$117,373,257	4
Industrials	11.8%	$101,632,756	10
Energy	11.4%	$97,807,918	8
Basic Materials	6.6%	$56,961,971	11
Real Estate	5.3%	$45,593,180	2
Consumer Cyclical	4.0%	$34,052,598	2
Consumer Defensive	3.6%	$31,214,413	2
Financial Services	1.3%	$11,462,700	3

Last Quarter's Activity

Export CSV

Sep 30, 2025 vs Jun 30, 2025

Added To

Positions the filer increased

8 positions

Ticker	Company	Δ Shares	Shares	Value
NXE	NexGen Energy Ltd.	+2,281,100	2,348,100	$21,015,495
RIG	Transocean Ltd.	+297,679	4,197,679	$13,096,758
QQQ	Invesco Qqq Trust, Series 1	+45,800	120,000	$72,044,400
MNDY	monday.com Ltd.	+9,220	55,000	$10,652,950
BEKE	KE Holdings Inc.	+6,650	28,400	$539,600
PARR	Par Pacific Holdings, Inc.	+5,260	36,860	$1,305,581
GLNG	Golar Lng Ltd	+5,195	16,000	$646,560
SCCO	Southern Copper Corp/	+60	6,066	$717,357
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
TEVA	Teva Pharmaceutical Industries Ltd	−32,837,875	5,510,000	$111,302,000
PRGO	PERRIGO Co plc	−2,057,621	1,760,000	$39,195,200
DK	Delek US Holdings, Inc.	−1,898,890	1,845,000	$59,538,150
LW	Lamb Weston Holdings, Inc.	−1,102,453	524,905	$30,486,482
CIEN	Ciena Corp	−999,340	211,924	$30,870,969
AER	AerCap Holdings N.V.	−648,983	300,000	$36,300,000
CSGP	Costar Group, Inc.	−635,833	534,000	$45,053,580
IBIT	iShares Bitcoin Trust ETF	−450,000	40,000	$2,600,000
ILMN	Illumina, Inc.	−356,921	394,000	$37,418,180
NMM	Navios Maritime Partners L.P.	−351,963	466,000	$20,993,300
DAC	Danaos Corp	−259,963	394,345	$35,416,124
CVI	Cvr Energy Inc	−173,915	33,385	$1,217,884
SLV	iShares Silver Trust	−167,225	952,175	$40,343,654
TTMI	Ttm Technologies Inc	−157,179	16,000	$921,600
FCX	Freeport-Mcmoran Inc	−150,000	21,520	$844,014
DT	Dynatrace, Inc.	−100,000	200,000	$9,690,000
PHIN	Phinia Inc.	−91,943	533,469	$30,663,798
XYZ	Block, Inc.	−50,000	130,000	$9,395,100
UAN	Cvr Partners, LP	−46,207	40,393	$3,640,217
OKTA	Okta, Inc.	−36,871	130,000	$11,921,000
MP	MP Materials Corp. / DE	−18,445	12,985	$870,903
KTOS	Kratos Defense & Security Solutions, Inc.	−5,455	12,285	$1,122,480
EOG	Eog Resources Inc	−3,500	2,000	$224,240
LITE	Lumentum Holdings Inc.	−1,186	8,000	$1,301,680
AEM	Agnico Eagle Mines Ltd	−540	10,530	$1,774,936
No positions match the current search.

New Positions

Positions the filer opened this quarter

12 positions

Ticker	Company	Shares	Value
CHKP	Check Point Software Technologies Ltd	258,615	$53,510,029
DD	DuPont de Nemours, Inc.	451,000	$44,099,862
CRWV	CoreWeave, Inc.	146,900	$20,103,265
FOLD	AMICUS THERAPEUTICS, INC.	872,411	$6,874,598
VRNS	Varonis Systems Inc	90,000	$5,172,300
VIA	Via Transportation, Inc.	100,000	$4,808,000
CRS	Carpenter Technology Corp	16,400	$4,026,856
MBLY	Mobileye Global Inc.	240,000	$3,388,800
KLAR	Klarna Group plc	50,000	$1,832,500
VALE	Vale S.A.	81,800	$888,348
TSM	Taiwan Semiconductor Manufacturing Co Ltd	3,000	$837,870
ADM	Archer-Daniels-Midland Co	12,185	$727,931
No positions match the current search.

Sold Out

Positions the filer fully exited

10 positions

Ticker	Company	Shares	Value
IMAX	Imax Corp	777,800	$21,747,288
ZIM	ZIM Integrated Shipping Services Ltd.	947,300	$15,242,057
TTD	Trade Desk, Inc.	80,000	$5,759,200
MTSI	MACOM Technology Solutions Holdings, Inc.	20,000	$2,865,800
VOYG	Voyager Technologies, Inc./TX	50,000	$1,962,500
PANW	Palo Alto Networks Inc	5,700	$1,166,448
KMI	Kinder Morgan, Inc.	28,700	$843,780
XOM	Exxon Mobil Corp	6,150	$662,970
PAA	Plains All American Pipeline LP	24,200	$443,344
COST	Costco Wholesale Corp /New	295	$292,032
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

59 positions · $859,041,854 total · as of Sep 30, 2025

All sectors Basic Materials Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology

Showing 1–50 of 59 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
TEVA	Teva Pharmaceutical Industries Ltd Healthcare	Reduced	5,510,000	-32,837,875	$111,302,000	−82.7%	12.96%
QQQ	Invesco Qqq Trust, Series 1	Added	120,000	+45,800	$72,044,400	+76.0%	8.39%
DK	Delek US Holdings, Inc. Energy	Reduced	1,845,000	-5,642,780	$59,538,150	−62.5%	6.93%
CHKP	Check Point Software Technologies Ltd Technology	NEW	258,615	NEW	$53,510,029	NEW	6.23%
CSGP	Costar Group, Inc. Real Estate	Reduced	534,000	-635,833	$45,053,580	−52.1%	5.24%
DD	DuPont de Nemours, Inc. Basic Materials	NEW	451,000	NEW	$44,099,862	NEW	5.13%
SLV	iShares Silver Trust	Reduced	952,175	-167,225	$40,343,654	+9.8%	4.70%
PRGO	PERRIGO Co plc Healthcare	Reduced	1,760,000	-2,057,621	$39,195,200	−61.6%	4.56%
ILMN	Illumina, Inc. Healthcare	Reduced	394,000	-356,921	$37,418,180	−47.8%	4.36%
AER	AerCap Holdings N.V. Industrials	Reduced	300,000	-648,983	$36,300,000	−67.3%	4.23%
DAC	Danaos Corp Industrials	Reduced	394,345	-259,963	$35,416,124	−37.2%	4.12%
CIEN	Ciena Corp Technology	Reduced	211,924	-999,340	$30,870,969	−68.7%	3.59%
PHIN	Phinia Inc. Consumer Cyclical	Reduced	533,469	-91,943	$30,663,798	+10.2%	3.57%
LW	Lamb Weston Holdings, Inc. Consumer Defensive	Reduced	524,905	-1,102,453	$30,486,482	−63.9%	3.55%
NXE	NexGen Energy Ltd. Energy	Added	2,348,100	+2,281,100	$21,015,495	+4419.7%	2.45%
NMM	Navios Maritime Partners L.P. Industrials	Reduced	466,000	-351,963	$20,993,300	−31.9%	2.44%
CRWV	CoreWeave, Inc. Technology	NEW	146,900	NEW	$20,103,265	NEW	2.34%
RIG	Transocean Ltd. Energy	Added	4,197,679	+297,679	$13,096,758	+29.7%	1.52%
OKTA	Okta, Inc. Technology	Reduced	130,000	-36,871	$11,921,000	−28.5%	1.39%
MNDY	monday.com Ltd. Technology	Added	55,000	+9,220	$10,652,950	−26.0%	1.24%
DT	Dynatrace, Inc. Technology	Reduced	200,000	-100,000	$9,690,000	−41.5%	1.13%
XYZ	Block, Inc. Technology	Reduced	130,000	-50,000	$9,395,100	−23.2%	1.09%
ITRI	Itron, Inc. Technology	Held	72,000	0	$8,968,320	−5.4%	1.04%
ETOR	eToro Group Ltd. Financial Services	Held	200,000	0	$8,254,000	−38.0%	0.96%
FOLD	AMICUS THERAPEUTICS, INC. Healthcare	NEW	872,411	NEW	$6,874,598	NEW	0.80%
VRNS	Varonis Systems Inc Technology	NEW	90,000	NEW	$5,172,300	NEW	0.60%
VIA	Via Transportation, Inc. Technology	NEW	100,000	NEW	$4,808,000	NEW	0.56%
CRS	Carpenter Technology Corp Industrials	NEW	16,400	NEW	$4,026,856	NEW	0.47%
UAN	Cvr Partners, LP Basic Materials	Reduced	40,393	-46,207	$3,640,217	−52.7%	0.42%
MBLY	Mobileye Global Inc. Consumer Cyclical	NEW	240,000	NEW	$3,388,800	NEW	0.39%
IBIT	iShares Bitcoin Trust ETF	Reduced	40,000	-450,000	$2,600,000	−91.3%	0.30%
GLD	Spdr Gold Trust	Held	6,710	0	$2,385,203	+16.6%	0.28%
KLAR	Klarna Group plc Financial Services	NEW	50,000	NEW	$1,832,500	NEW	0.21%
AEM	Agnico Eagle Mines Ltd Basic Materials	Reduced	10,530	-540	$1,774,936	+34.8%	0.21%
WPM	Wheaton Precious Metals Corp. Basic Materials	Held	13,695	0	$1,531,648	+24.5%	0.18%
IBKR	Interactive Brokers Group, Inc. Financial Services	Held	20,000	0	$1,376,200	+24.2%	0.16%
PARR	Par Pacific Holdings, Inc. Energy	Added	36,860	+5,260	$1,305,581	+55.7%	0.15%
CMI	Cummins Inc Industrials	Held	3,085	0	$1,303,011	+29.0%	0.15%
LITE	Lumentum Holdings Inc. Technology	Reduced	8,000	-1,186	$1,301,680	+49.1%	0.15%
CVI	Cvr Energy Inc Energy	Reduced	33,385	-173,915	$1,217,884	−78.1%	0.14%
KTOS	Kratos Defense & Security Solutions, Inc. Industrials	Reduced	12,285	-5,455	$1,122,480	+36.2%	0.13%
MOS	Mosaic Co Basic Materials	Held	27,150	0	$941,562	−4.9%	0.11%
TTMI	Ttm Technologies Inc Technology	Reduced	16,000	-157,179	$921,600	−87.0%	0.11%
VALE	Vale S.A. Basic Materials	NEW	81,800	NEW	$888,348	NEW	0.10%
MP	MP Materials Corp. / DE Basic Materials	Reduced	12,985	-18,445	$870,903	−16.7%	0.10%
FCX	Freeport-Mcmoran Inc Basic Materials	Reduced	21,520	-150,000	$844,014	−88.6%	0.10%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	NEW	3,000	NEW	$837,870	NEW	0.10%
NTR	Nutrien Ltd. Basic Materials	Held	14,150	0	$830,746	+0.8%	0.10%
RGLD	Royal Gold Inc Basic Materials	Held	4,100	0	$822,378	+12.8%	0.10%
VAL	Valaris Ltd Energy	Held	15,650	0	$763,250	+15.8%	0.09%