# ION Fund Management Ltd

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2105906. Source: https://holderbook.com/funds/2105906-ion-fund-management-ltd/

- Reported value: $1.6B
- Positions: 55
- Weight of the ten largest: 79.3%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $662.8M | 0 | 42.0% | 1 |
| TEVA PHARMACEUTICAL INDS LTD | [TEVA](https://holderbook.com/stocks/TEVA/) | $141.6M | 4,180,759 | 9.0% | 3 |
| DELEK US HLDGS INC NEW | [DK](https://holderbook.com/stocks/DK/) | $75.3M | 1,481,841 | 4.8% | 3 |
| SOLAREDGE TECHNOLOGIES INC | [SEDG](https://holderbook.com/stocks/SEDG/) | $61.8M | 1,057,841 | 3.9% | 3 |
| SOTERA HEALTH CO | [SHC](https://holderbook.com/stocks/SHC/) | $59.3M | 3,343,648 | 3.8% | 3 |
| ILLUMINA INC | [ILMN](https://holderbook.com/stocks/ILMN/) | $53.9M | 306,384 | 3.4% | 3 |
| VANECK ETF TRUST | [SMH](https://holderbook.com/stocks/SMH/) | $52.5M | 0 | 3.3% | 1 |
| DANAOS CORPORATION | [DAC](https://holderbook.com/stocks/DAC/) | $50.3M | 410,977 | 3.2% | 3 |
| FLOWSERVE CORP | [FLS](https://holderbook.com/stocks/FLS/) | $46.8M | 631,500 | 3.0% | 2 |
| GLOBAL E ONLINE LTD | [GLBE](https://holderbook.com/stocks/GLBE/) | $45.6M | 1,314,000 | 2.9% | 3 |
| PHINIA INC | [PHIN](https://holderbook.com/stocks/PHIN/) | $45.1M | 547,684 | 2.9% | 3 |
| ULTRA CLEAN HLDGS INC | [UCTT](https://holderbook.com/stocks/UCTT/) | $42.5M | 298,000 | 2.7% | 2 |
| FLUOR CORP | [FLR](https://holderbook.com/stocks/FLR/) | $40.7M | 777,285 | 2.6% | 2 |
| TRANSOCEAN LTD | [RIG](https://holderbook.com/stocks/RIG/) | $33.0M | 6,750,000 | 2.1% | 3 |
| NAVIOS MARITIME PARTNERS L P | [NMM](https://holderbook.com/stocks/NMM/) | $30.9M | 441,439 | 2.0% | 3 |
| NEXGEN ENERGY LTD | [NXE](https://holderbook.com/stocks/NXE/) | $30.8M | 3,280,491 | 2.0% | 3 |
| COREWEAVE INC | [CRWV](https://holderbook.com/stocks/CRWV/) | $14.6M | 0 | 0.9% | 3 |
| TTM TECHNOLOGIES INC | [TTMI](https://holderbook.com/stocks/TTMI/) | $11.6M | 62,000 | 0.7% | 3 |
| ONTO INNOVATION INC | [ONTO](https://holderbook.com/stocks/ONTO/) | $7.2M | 19,000 | 0.5% | 2 |
| OKTA INC | [OKTA](https://holderbook.com/stocks/OKTA/) | $6.8M | 50,000 | 0.4% | 3 |
| VEECO INSTRS INC DEL | [VECO](https://holderbook.com/stocks/VECO/) | $6.4M | 84,000 | 0.4% | 1 |
| BLOCK INC | [XYZ](https://holderbook.com/stocks/XYZ/) | $6.1M | 80,000 | 0.4% | 3 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $5.7M | 24,000 | 0.4% | 3 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $3.8M | 11,000 | 0.2% | 3 |
| INTERACTIVE BROKERS GROUP IN | [IBKR](https://holderbook.com/stocks/IBKR/) | $3.5M | 40,000 | 0.2% | 3 |
| VALE S A | [VALE](https://holderbook.com/stocks/VALE/) | $3.2M | 107,100 | 0.2% | 3 |
| SPDR SERIES TRUST | [KRE](https://holderbook.com/stocks/KRE/) | $2.9M | 38,460 | 0.2% | 1 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $1.9M | 5,045 | 0.1% | 3 |
| CLOUDFLARE INC | [NET](https://holderbook.com/stocks/NET/) | $1.7M | 7,000 | 0.1% | 1 |
| ARCHER DANIELS MIDLAND CO | [ADM](https://holderbook.com/stocks/ADM/) | $1.6M | 20,675 | 0.1% | 2 |
| PAR PAC HOLDINGS INC | [PARR](https://holderbook.com/stocks/PARR/) | $1.5M | 26,440 | 0.1% | 3 |
| TWILIO INC | [TWLO](https://holderbook.com/stocks/TWLO/) | $1.4M | 7,000 | 0.1% | 1 |
| AGNICO EAGLE MINES LTD | [AEM](https://holderbook.com/stocks/AEM/) | $1.4M | 9,200 | 0.1% | 3 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $1.4M | 29,370 | 0.1% | 3 |
| MONGODB INC | [MDB](https://holderbook.com/stocks/MDB/) | $1.3M | 4,000 | 0.1% | 1 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $1.3M | 9,360 | 0.1% | 3 |
| HALLIBURTON CO | [HAL](https://holderbook.com/stocks/HAL/) | $1.3M | 37,650 | 0.1% | 3 |
| DELTA AIR LINES INC | [DAL](https://holderbook.com/stocks/DAL/) | $1.3M | 13,375 | 0.1% | 1 |
| NUTRIEN LTD | [NTR](https://holderbook.com/stocks/NTR/) | $1.2M | 19,400 | 0.1% | 3 |
| GLOBAL X FDS | [SIL](https://holderbook.com/stocks/SIL/) | $1.2M | 15,400 | 0.1% | 3 |
| PETROLEO BRASILEIRO S A | [PBR](https://holderbook.com/stocks/PBR/) | $1.2M | 72,000 | 0.1% | 2 |
| SOUTHERN COPPER CORP | [SCCO](https://holderbook.com/stocks/SCCO/) | $1.1M | 6,229 | 0.1% | 3 |
| ISHARES SILVER TR | [SLV](https://holderbook.com/stocks/SLV/) | $1.1M | 20,100 | 0.1% | 3 |
| AKAMAI TECHNOLOGIES INC | [AKAM](https://holderbook.com/stocks/AKAM/) | $1.1M | 9,000 | 0.1% | 1 |
| NORFOLK SOUTHN CORP | [NSC](https://holderbook.com/stocks/NSC/) | $1.0M | 3,335 | 0.1% | 3 |
| VALARIS LTD | [VAL](https://holderbook.com/stocks/VAL/) | $1.0M | 14,295 | 0.1% | 3 |
| VANECK ETF TRUST | [GDXJ](https://holderbook.com/stocks/GDXJ/) | $1.0M | 10,350 | 0.1% | 3 |
| ITAU UNIBANCO HLDG S A | [ITUB](https://holderbook.com/stocks/ITUB/) | $976.3K | 119,500 | 0.1% | 2 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $954.4K | 9,180 | 0.1% | 2 |
| MP MATERIALS CORP | [MP](https://holderbook.com/stocks/MP/) | $908.2K | 16,215 | 0.1% | 3 |
| ROYAL GOLD INC | [RGLD](https://holderbook.com/stocks/RGLD/) | $818.4K | 4,100 | 0.1% | 3 |
| GOLAR LNG LTD | [GLNG](https://holderbook.com/stocks/GLNG/) | $797.4K | 16,000 | 0.1% | 3 |
| STAR BULK CARRIERS CORP. | [SBLK](https://holderbook.com/stocks/SBLK/) | $755.8K | 30,270 | 0.0% | 3 |
| GENCO SHIPPING & TRADING LTD | [GNK](https://holderbook.com/stocks/GNK/) | $526.9K | 21,265 | 0.0% | 3 |
| BRASKEM S A | [BAK](https://holderbook.com/stocks/BAK/) | $290.4K | 119,000 | 0.0% | 2 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +17.8% | +14.8% | +3.0% | 94% |
| Q1 2026 | +4.9% | -4.6% | +9.5% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.6B | 55 |
| Q1 2026 | $706.7M | 60 |
| Q4 2025 | $857.4M | 62 |