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ION Fund Management Ltd

CIK 2105906 · latest 13F filed 14 August 2026 · Read the filing on EDGAR

ION Fund Management Ltd reported 52 US-listed holdings worth $845.3 million in its 13F for the quarter ended 30 June 2026, filed 14 August 2026. Its largest: Teva Pharmaceutical Industries Ltd. (16.8%), Delek US Hldgs Inc. New (8.9%) and Solaredge Technologies, Inc. (7.3%). Against the quarter before, it opened 7 positions, added to 17, trimmed 12 and sold out of 14.

Reported holdings$845.3M+28.9% on Q1 2026
Positions52-7 on Q1 2026
The largest ten73.6%of its reported holdings
Latest 13FQ2 2026filed 14 August 2026
Where the money is
Added toTrimmed
TEVA16.8%DK8.9%SEDG7.3%SHC7.0%ILMN6.4%DAC5.9%FLS5.5%GLBE5.4%PHIN5.3%UCTT5.0%FLR4.8%RIG3.9%NMM3.7%NXE3.6%38 more10.3%

The 14 largest of its 52 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.

Reported holdings, quarter by quarter
Q4 2025: $783.8 million in 59 positions$784MQ4 25Q1 2026: $655.7 million in 59 positions$656MQ1 26Q2 2026: $845.3 million in 52 positions$845MQ2 26

What the fund reported holding at each quarter's end; hover a bar for the number of positions

What its reported holdings returned

Held through each quarter, the holdings it reported returned +23.6% over the 2 quarters to 30 June 2026, against +9.5% for the S&P 500.

Its reported holdingsThe S&P 500
100110120Q4 25Q1 26Q2 26Its holdings +23.6%S&P 500 +9.5%

Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.

What it did on the quarter

Opened 7Added 17Held 16Trimmed 12Sold out 14
Opened: 7Added: 17Held: 16Trimmed: 12Sold out: 14

Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held

Opened 7

  1. Veeco Instruments Inc. VECO$6.4 million
  2. SPDR Ser Trust KRE$2.9 million
  3. Cloudflare Inc. NET$1.7 million
  4. Twilio Inc. TWLO$1.4 million
  5. Mongodb Inc. MDB$1.3 million
  6. Delta Air Lines, Inc. DAL$1.3 million
  7. Akamai Technologies Inc. AKAM$1.1 million

Added to 17

  1. Global E Online Ltd GLBE+1.2 million shares · +748%
  2. Sotera Health Co. SHC+2.2 million shares · +180%
  3. Flowserve Corp. FLS+434,500 shares · +221%
  4. Fluor Corp. FLR+478,085 shares · +160%
  5. Transocean Ltd RIG+2.3 million shares · +50%
  6. Teva Pharmaceutical Industries Ltd. TEVA+321,316 shares · +8%
  7. Nexgen Energy Ltd NXE+662,291 shares · +25%
  8. Delek US Hldgs Inc. New DK+111,841 shares · +8%

and 9 more in the table below

Trimmed 12

  1. Illumina, Inc. ILMN-83,816 shares · -21%
  2. Ultra Clean Holdings, Inc. UCTT-51,852 shares · -15%
  3. TTM Technologies Inc. TTMI-38,000 shares · -38%
  4. Onto Innovation Inc. ONTO-11,000 shares · -37%
  5. Solaredge Technologies, Inc. SEDG-45,849 shares · -4%
  6. Palo Alto Networks Inc. PANW-5,000 shares · -31%
  7. Vaneck ETF Trust GDXJ-7,020 shares · -40%
  8. Genco Shipping & Trading Ltd GNK-15,200 shares · -42%

and 4 more in the table below

Sold out of 14

  1. Qnity Electronics, Inc. Q$25.6 million last quarter
  2. AerCap Holdings N.V. AER$17.1 million last quarter
  3. Ciena Corp. CIEN$10.7 million last quarter
  4. Check Point Software Technologies Ltd. CHKP$3.7 million last quarter
  5. Littelfuse Inc. LFUS$2.7 million last quarter
  6. iShares Bitcoin Trust ETF IBIT$1.5 million last quarter
  7. PayPal Holdings, Inc. PYPL$1.4 million last quarter
  8. Motorola Solutions, Inc. MSI$1.3 million last quarter

What it holds

CompanySharesValueOf its bookChange in shares
Teva Pharmaceutical Industries Ltd. TEVA4.2M$141.6 million16.76%+321.3K
Delek US Hldgs Inc. New DK1.5M$75.3 million8.91%+111.8K
Solaredge Technologies, Inc. SEDG1.1M$61.8 million7.31%-45.8K
Sotera Health Co. SHC3.3M$59.3 million7.02%+2.2M
Illumina, Inc. ILMN306.4K$53.9 million6.37%-83.8K
Danaos Corporation DAC411.0K$50.3 million5.95%+29.9K
Flowserve Corp. FLS631.5K$46.8 million5.54%+434.5K
Global E Online Ltd GLBE1.3M$45.6 million5.40%+1.2M
Phinia Inc. PHIN547.7K$45.1 million5.34%+37.7K
Ultra Clean Holdings, Inc. UCTT298.0K$42.5 million5.03%-51.9K
Fluor Corp. FLR777.3K$40.7 million4.82%+478.1K
Transocean Ltd RIG6.8M$33.0 million3.90%+2.3M
Navios Maritime Partners L P Com Unit Lpi NMM441.4K$30.9 million3.66%+10.5K
Nexgen Energy Ltd NXE3.3M$30.8 million3.64%+662.3K
TTM Technologies Inc. TTMI62.0K$11.6 million1.37%-38.0K
Onto Innovation Inc. ONTO19.0K$7.2 million0.85%-11.0K
Okta, Inc. OKTA50.0K$6.8 million0.81%+10.0K
Veeco Instruments Inc. VECO84.0K$6.4 million0.75%new
Block, Inc. XYZ80.0K$6.1 million0.72%no change
Amazon.com Inc. AMZN24.0K$5.7 million0.68%no change
Palo Alto Networks Inc. PANW11.0K$3.8 million0.44%-5.0K
Interactive Brokers Group, Inc. IBKR40.0K$3.5 million0.41%no change
SPDR Ser Trust KRE38.5K$2.9 million0.34%new
SPDR Gold Trust GLD5.0K$1.9 million0.22%no change
Cloudflare Inc. NET7.0K$1.7 million0.20%new
Vale S.A. VALE107.1K$1.6 million0.19%no change
Archer-Daniels-Midland Co. ADM20.7K$1.6 million0.19%+10.4K
Par Pacific Holdings, Inc. PARR26.4K$1.5 million0.18%-5.6K
Twilio Inc. TWLO7.0K$1.4 million0.17%new
Agnico Eagle Mines Ltd AEM9.2K$1.4 million0.17%no change
SLB Limited SLB29.4K$1.4 million0.16%-3.1K
Mongodb Inc. MDB4.0K$1.3 million0.16%new
ExxonMobil Holdings Corp. XOM9.4K$1.3 million0.15%no change
Halliburton Co. HAL37.6K$1.3 million0.15%-4.4K
Delta Air Lines, Inc. DAL13.4K$1.3 million0.15%new
Nutrien Ltd. NTR19.4K$1.2 million0.14%+5.2K
Global X FDS SIL15.4K$1.2 million0.14%no change
Petróleo Brasileiro S.A. (Petrobras) PBR72.0K$1.2 million0.14%no change
Southern Copper Corp. SCCO6.2K$1.1 million0.13%+61
iShares Silver Trust SLV20.1K$1.1 million0.13%no change
Akamai Technologies Inc. AKAM9.0K$1.1 million0.13%new
Norfolk Southern Corp. NSC3.3K$1.0 million0.12%no change
Valaris Ltd. VAL14.3K$1.0 million0.12%-2.0K
Vaneck ETF Trust GDXJ10.3K$1.0 million0.12%-7.0K
Itaú Unibanco Holding S.A. ITUB119.5K$976,3150.12%no change
ConocoPhillips COP9.2K$954,3530.11%+3.1K
MP Materials Corp. MP16.2K$908,2020.11%no change
Royal Gold Inc. RGLD4.1K$818,4010.10%no change
Golar LNG Ltd GLNG16.0K$797,4400.09%no change
Star Bulk Carriers Corp. SBLK30.3K$755,8420.09%no change
Genco Shipping & Trading Ltd GNK21.3K$526,9470.06%-15.2K
Braskem S A BAK119.0K$290,3600.03%+3.3K
Every US-listed position in the fund's 13F for the quarter ended 30 June 2026, by the value it reported.
Read moreChange is shares against its 13F for the quarter before; the 14 it sold out of are in the box above.

Options it reported

CompanyOptionShares under the optionsValue of those shares
Invesco QQQ Trust QQQPuts900.0K$662.8 million
Vaneck ETF Trust SMHPuts80.0K$52.5 million
Coreweave Inc. CRWVPuts146.9K$14.6 million
Vale S.A. VALECalls106.0K$1.6 million

4 option lines. A 13F lists calls and puts by the shares they cover and what those shares were worth at the quarter's end, not what the options cost; they are not counted in the holdings above.