ION Fund Management Ltd
Sector Allocation
- Healthcare30.1%$254.9M
- Industrials25.9%$219.3M
- Technology23.2%$196.3M
- Energy13.8%$116.9M
- Materials4.4%$37.3M
- Financials1.0%$8.2M
- Consumer Discretionary0.7%$5.7M
- Other0.6%$5.1M
- Consumer Staples0.2%$1.6M
AUM History
13fpro.ai/research/fund/ion-fund-management-ltd-2105906
Conviction and streaks
Concentrating · top 10 = 73.6%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
TEVA
$141.6MDK
$75.3MSEDG
$61.8MSHC
$59.3MILMN
$53.9MDAC
$50.3MFLS
$46.8MGLBE
$45.6MPHIN
$45.1MUCTT
$42.5MFLR
$40.7MRIG
$33.0MNMM
$30.9MNXE
$30.8MTTMI
$11.6MONTO
$7.2MOKTA
$6.8MVECO
$6.4MXYZ
$6.1MAMZN
$5.7M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/ion-fund-management-ltd-2105906
ION Fund Management Ltd 13F holdings — Q2 2026
$1.6B portfolio (+123.1% QoQ) · 56 holdings · Q2 2026 13F · top 10 are 74% of the stock portfolio
Includes $731.4M of put/call options ($729.9M puts, $1.6M calls), which 13F rules report at the value of the underlying shares, not the premium at risk. Stocks alone: $845.3M. Weights use the stock portfolio.
$141.6M
16.8% of stocks
+8%This quarter+8.7%Since filed3+ qtrsHeld$75.3M
8.9% of stocks
+8%This quarter+19.9%Since filed3+ qtrsHeld$61.8M
7.3% of stocks
-4%This quarter-2.4%Since filed3+ qtrsHeld$59.3M
7.0% of stocks
+180%This quarter-2.6%Since filed3+ qtrsHeld$53.9M
6.4% of stocks
-21%This quarter+42.0%Since filed3+ qtrsHeld$50.3M
6.0% of stocks
+8%This quarter+11.3%Since filed3+ qtrsHeld$46.8M
5.5% of stocks
+221%This quarter-14.0%Since filed2 qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 2 qtrs in a row$45.6M
5.4% of stocks
+748%This quarter-1.2%Since filed3+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 2 qtrs in a row$45.1M
5.3% of stocks
+7%This quarter-23.3%Since filed3+ qtrsHeld$42.5M
5.0% of stocks
-15%This quarter-45.0%Since filed2 qtrsHeld
All holdings — ION Fund Management Ltd (Q2 2026)
56 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | INVESCO QQQ TRUST, SERIES 1 | — | $662.8M | — | 900K | New | — | — | 13F | |
| 12 | — PUT | VANECK ETF TRUST - SEMICONDUCTR ETF | — | $52.5M | — | 80K | New | — | — | 13F |
| 13 | FLUOR CORP | Industrials | $40.7M | 4.8% | 777K | +160% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | Transocean Ltd. | Energy | $33.0M | 3.9% | 6.75M | +50% | 3+ qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | Navios Maritime Partners L.P.lp unit | Industrials | $30.9M | 3.7% | 441K | +2% | 3+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | NexGen Energy Ltd. | Materials | $30.8M | 3.6% | 3.28M | +25% | 3+ qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | CoreWeave, Inc. | Technology | $14.6M | — | 147K | — | — | — | 13F | |
| 18 | TTM TECHNOLOGIES INC | Technology | $11.6M | 1.4% | 62K | -38% | 3+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | ONTO INNOVATION INC. | Technology | $7.2M | 0.8% | 19K | -37% | 2 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | Okta, Inc. | Technology | $6.8M | 0.8% | 50K | +25% | 3+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | VEECO INSTRUMENTS INC | Technology | $6.4M | 0.8% | 84K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | Block, Inc. | Technology | $6.1M | 0.7% | 80K | — | 3+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | AMAZON COM INC | Consumer Discretionary | $5.7M | 0.7% | 24K | — | 3+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | Palo Alto Networks Inc | Technology | $3.8M | 0.4% | 11K | -31% | 3+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | Interactive Brokers Group, Inc. | Financials | $3.5M | 0.4% | 40K | — | 3+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | — | SPDR SERIES TRUST - ST STR SP REGBNK | — | $2.9M | 0.3% | 38K | New | |||
| 27 | $GLD | SPDR GOLD TRUST | Financials | $1.9M | 0.2% | 5,045 | — | |||
| 28 | $NET | Cloudflare, Inc. | Technology | $1.7M | 0.2% | 7,000 | New | |||
| 29 | $VALE | Vale S.A. | Materials | $1.6M | 0.2% | 107K | — | |||
| 30 | $VALE CALL | Vale S.A. | Materials | $1.6M | — | 106K | -94% | |||
| 31 | $ADM | Archer-Daniels-Midland Co | Consumer Staples | $1.6M | 0.2% | 21K | +101% | |||
| 32 | $PARR | PAR PACIFIC HOLDINGS, INC. | Energy | $1.5M | 0.2% | 26K | -18% | |||
| 33 | $TWLO | TWILIO INC | Technology | $1.4M | 0.2% | 7,000 | New | |||
| 34 | $AEM | AGNICO EAGLE MINES LTD | Materials | $1.4M | 0.2% | 9,200 | — | |||
| 35 | $SLB | SLB LIMITED/NV | Energy | $1.4M | 0.2% | 29K | -10% | |||
| 36 | $MDB | MongoDB, Inc. | Technology | $1.3M | 0.2% | 4,000 | New | |||
| 37 | $XOM.R34088 | EXXON MOBIL CORP | Energy | $1.3M | 0.1% | 9,360 | — | |||
| 38 | $HAL | HALLIBURTON CO | Energy | $1.3M | 0.1% | 38K | -10% | |||
| 39 | $DAL | DELTA AIR LINES, INC. | Industrials | $1.3M | 0.1% | 13K | New | |||
| 40 | $NTR | Nutrien Ltd. | Materials | $1.2M | 0.1% | 19K | +37% | |||
| 41 | — | GLOBAL X FDS - GLOBAL X SILVER | — | $1.2M | 0.1% | 15K | — | |||
| 42 | $PBR | PETROBRAS - PETROLEO BRASILEIRO SA | Energy | $1.2M | 0.1% | 72K | — | |||
| 43 | $SCCO | SOUTHERN COPPER CORP/ | Materials | $1.1M | 0.1% | 6,229 | +1.0% | |||
| 44 | $SLV | iShares Silver Trust | Financials | $1.1M | 0.1% | 20K | — | |||
| 45 | $AKAM | AKAMAI TECHNOLOGIES INC | Industrials | $1.1M | 0.1% | 9,000 | New | |||
| 46 | $NSC | NORFOLK SOUTHERN CORP | Industrials | $1.0M | 0.1% | 3,335 | — | |||
| 47 | $VAL | Valaris Ltd | Energy | $1.0M | 0.1% | 14K | -12% | |||
| 48 | — | VANECK ETF TRUST - JUNIOR GOLD MINE | — | $1.0M | 0.1% | 10K | -40% | |||
| 49 | $ITUB | Itau Unibanco Holding S.A. | Financials | $976K | 0.1% | 120K | — | |||
| 50 | $COP | CONOCOPHILLIPS | Energy | $954K | 0.1% | 9,180 | +52% | |||
| 51 | $MP | MP Materials Corp. / DE | Materials | $908K | 0.1% | 16K | — | |||
| 52 | $RGLD | ROYAL GOLD INC | Financials | $818K | 0.1% | 4,100 | — | |||
| 53 | $GLNG | GOLAR LNG LTD | Industrials | $797K | 0.1% | 16K | — | |||
| 54 | $SBLK | Star Bulk Carriers Corp. | Industrials | $756K | 0.1% | 30K | — | |||
| 55 | $GNK | GENCO SHIPPING & TRADING LTD | Industrials | $527K | 0.1% | 21K | -42% | |||
| 56 | $BAK | BRASKEM SA | Materials | $290K | 0.0% | 119K | +3% |
What changed in Q2 2026
Against the previous quarter's 13F: 9 new, 17 added to, 13 trimmed, 15 sold out. Share-count changes; largest moves by dollar size first.
New positions (9)
$QQQPUTINVESCO QQQ TRUST, SERIES 1$662.8M
first bought this quarter
- PUTVANECK ETF TRUST - SEMICONDUCTR ETF$52.5M
first bought this quarter
first bought this quarter
- SPDR SERIES TRUST - ST STR SP REGBNK$2.9M
first bought this quarter
$NETCloudflare, Inc.$1.7M
first bought this quarter
$TWLOTWILIO INC$1.4M
first bought this quarter
+3 more in the Excel export
Added to (17)
now $45.6M · held 3+ qtrs, 2 adds in a row
now $59.3M · held 3+ qtrs, 2 adds in a row
now $46.8M · held 2 qtrs, 2 adds in a row
now $40.7M · held 2 qtrs, 2 adds in a row
now $33.0M · held 3+ qtrs, 2 adds in a row
now $141.6M · held 3+ qtrs
+11 more in the Excel export
Trimmed (13)
$VALECALLVale S.A.-94%
now $1.6M
now $53.9M · held 3+ qtrs
now $42.5M · held 2 qtrs
now $11.6M · held 3+ qtrs, 2 trims in a row
now $7.2M · held 2 qtrs
now $61.8M · held 3+ qtrs
+7 more in the Excel export
Sold out (15)
$QQnity Electronics, Inc.was $25.6M
held 2+ qtrs
$AERAerCap Holdings N.V.was $17.1M
held 2+ qtrs
$PBRCALLPETROBRAS - PETROLEO BRASILEIRO SAwas $12.4M
$CIENCIENA CORPwas $10.7M
held 2+ qtrs
$CHKPCHECK POINT SOFTWARE TECHNOLOGIES LTDwas $3.7M
held 2+ qtrs
$LFUSLITTELFUSE INC /DEwas $2.7M
held 1 qtr
+9 more in the Excel export
Holdings by quarter
Every 13F ION Fund Management Ltd has filed, 2 earlier quarters. Pick one to see what it held then.
Is it too late to follow ION Fund Management Ltd?
Q2 2026 13F filed with the SEC on Aug 14, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of ION Fund Management Ltd's top 20 holdings: 54/100 (our AI quality score, weighted by position size; 16 of the 20 are scored)
Top 10 since filing
+2.5%
Value-weighted move of the 10 largest stock positions
Turnover
15%
Last quarter
Top 10 weight
74%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
0%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q4 2025 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
ION Fund Management Ltd disclosed 56 positions worth $1.6B in its Form 13F-HR for Q2 2026 — $845.3M in common stock plus $731.4M of put/call option positions (reported at underlying notional value, not premium at risk), led by $TEVA (TEVA PHARMACEUTICAL INDUSTRIES LTD) at 16.8% of the equity portfolio, followed by $DK and $SEDG. During the quarter the fund opened 9 new positions and exited 15 — including a new stake in $QQQ and a full exit from $Q. The portfolio is most concentrated in Healthcare (30.1% of disclosed assets). All figures are sourced directly from ION Fund Management Ltd’s Form 13F-HR filing with the SEC under CIK 2105906.
Funds like this
managers whose biggest positions overlap ION Fund Management Ltd'sBrowse Top Institutional Investors
13F Pro tracks 8,700+ institutional investors filing 13F reports with the SEC.
to search all 8,700+ institutional filers.
AI-Powered Hedge Fund Analysis: ION Fund Management Ltd
13F Pro is an AI hedge fund tracker and stock research platform. For ION Fund Management Ltd (SEC CIK: 2105906), the platform ingests every quarterly Form 13F filing and applies AI-powered analysis on top — 10 specialized AI analysts (value, growth, momentum, macro, activist, and more) debate the fund's top positions and publish AI-generated analysis with cited SEC sources.
Every holding in ION Fund Management Ltd's portfolio is scored on an AI quality ranking built from its SEC filings (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.