ION Fund Management Ltd

Herzliya, L3 · CIK 2105906 · 13F filing filed 2026-08-14

Exempt reporting adviser since 2026 · corporation

Private funds2 (2 hedge) · $1.1bn gross assets
Main officeHerzliya, Centre
Websiteion-am.com
Form ADV · 2026-04-20SEC adviser record

Legal entityאיון ניהול קרנות בע"מ (IL)

Kindhedge funds
Others nearbyTel Aviv

As an employer

Offices in1 country
Private fundshedge 2

$845.3m reported value +28.9% vs Q1 2026

52positions

73.6%in top 10

7 new 17 added 12 reduced 14 sold out vs Q1 2026

Options: 1 call positions ($1.6m notional), 3 put positions ($729.9m notional) – listed below, not included above.

This report includes the holdings of 1 other manager that shares the investment decisions:

ION Tech Ltd – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	TEVA PHARMACEUTICAL INDS LTD SPONSORED ADS SPONSORED ADS		4,180,759	$141.6m16.76%	16.76%	Added +321.3k	+321,316 8.3%
2	DELEK US HLDGS INC NEW COM DK	DK	1,481,841	$75.3m8.91%	8.91%	Added +111.8k	+111,841 8.2%
3	SOLAREDGE TECHNOLOGIES INC COM SEDG	SEDG	1,057,841	$61.8m7.31%	7.31%	Reduced -45.8k	-45,849 -4.2%
4	SOTERA HEALTH CO COM SHC	SHC	3,343,648	$59.3m7.02%	7.02%	Added +2.2m	+2,150,258 180.2%
5	ILLUMINA INC COM ILMN	ILMN	306,384	$53.9m6.37%	6.37%	Reduced -83.8k	-83,816 -21.5%
6	DANAOS CORPORATION SHS DAC	DAC	410,977	$50.3m5.95%	5.95%	Added +29.9k	+29,855 7.8%
7	FLOWSERVE CORP COM FLS	FLS	631,500	$46.8m5.54%	5.54%	Added +434.5k	+434,500 220.6%
8	GLOBAL E ONLINE LTD SHS GLBE	GLBE	1,314,000	$45.6m5.40%	5.40%	Added +1.2m	+1,159,000 747.7%
9	PHINIA INC COMMON STOCK PHIN	PHIN	547,684	$45.1m5.34%	5.34%	Added +37.7k	+37,684 7.4%
10	ULTRA CLEAN HLDGS INC COM UCTT	UCTT	298,000	$42.5m5.03%	5.03%	Reduced -51.9k	-51,852 -14.8%
11	FLUOR CORP NEW COM FLR	FLR	777,285	$40.7m4.82%	4.82%	Added +478.1k	+478,085 159.8%
12	TRANSOCEAN LTD REGISTERED SHS RIG	RIG	6,750,000	$33.0m3.90%	3.90%	Added +2.3m	+2,261,600 50.4%
13	NAVIOS MARITIME PARTNERS L P COM UNIT LPI NMM	NMM	441,439	$30.9m3.66%	3.66%	Added +10.5k	+10,495 2.4%
14	NEXGEN ENERGY LTD COM NXE	NXE	3,280,491	$30.8m3.64%	3.64%	Added +662.3k	+662,291 25.3%
15	TTM TECHNOLOGIES INC COM TTMI	TTMI	62,000	$11.6m1.37%	1.37%	Reduced -38.0k	-38,000 -38.0%
16	ONTO INNOVATION INC COM ONTO	ONTO	19,000	$7.2m0.85%	0.85%	Reduced -11.0k	-11,000 -36.7%
17	OKTA INC CL A OKTA	OKTA	50,000	$6.8m0.81%	0.81%	Added +10.0k	+10,000 25.0%
18	VEECO INSTRS INC DEL COM VECO	VECO	84,000	$6.4m0.75%	0.75%	New
19	BLOCK INC CL A XYZ	XYZ	80,000	$6.1m0.72%	0.72%	Unchanged
20	AMAZON COM INC COM AMZN	AMZN	24,000	$5.7m0.68%	0.68%	Unchanged
21	PALO ALTO NETWORKS INC COM PANW	PANW	11,000	$3.8m0.44%	0.44%	Reduced -5.0k	-5,000 -31.2%
22	INTERACTIVE BROKERS GROUP IN COM CL A IBKR	IBKR	40,000	$3.5m0.41%	0.41%	Unchanged
23	SPDR SER TR S&P REGL BKG KRE	KRE	38,460	$2.9m0.34%	0.34%	New
24	SPDR GOLD TR GOLD SHS GLD	GLD	5,045	$1.9m0.22%	0.22%	Unchanged
25	CLOUDFLARE INC CL A COM NET	NET	7,000	$1.7m0.20%	0.20%	New
26	VALE S A SPONSORED ADS VALE	VALE	107,100	$1.6m0.19%	0.19%	Unchanged
27	ARCHER DANIELS MIDLAND CO COM ADM	ADM	20,675	$1.6m0.19%	0.19%	Added +10.4k	+10,400 101.2%
28	PAR PAC HOLDINGS INC COM NEW PARR	PARR	26,440	$1.5m0.18%	0.18%	Reduced -5.6k	-5,625 -17.5%
29	TWILIO INC CL A TWLO	TWLO	7,000	$1.4m0.17%	0.17%	New
30	AGNICO EAGLE MINES LTD COM AEM	AEM	9,200	$1.4m0.17%	0.17%	Unchanged
31	SCHLUMBERGER LTD COM STK SLB	SLB	29,370	$1.4m0.16%	0.16%	Reduced -3.1k	-3,100 -9.6%
32	MONGODB INC CL A MDB	MDB	4,000	$1.3m0.16%	0.16%	New
33	EXXON MOBIL CORP COM XOM	XOM	9,360	$1.3m0.15%	0.15%	Unchanged
34	HALLIBURTON CO COM HAL	HAL	37,650	$1.3m0.15%	0.15%	Reduced -4.4k	-4,375 -10.4%
35	DELTA AIR LINES INC DEL COM NEW DAL	DAL	13,375	$1.3m0.15%	0.15%	New
36	NUTRIEN LTD COM NTR	NTR	19,400	$1.2m0.14%	0.14%	Added +5.2k	+5,250 37.1%
37	GLOBAL X FDS GLOBAL X SILVER SIL	SIL	15,400	$1.2m0.14%	0.14%	Unchanged
38	PETROLEO BRASILEIRO SA PETRO SPONSORED ADR PBR	PBR	72,000	$1.2m0.14%	0.14%	Unchanged
39	SOUTHERN COPPER CORP COM SCCO	SCCO	6,229	$1.1m0.13%	0.13%	Added +61	+61 1.0%
40	ISHARES SILVER TR ISHARES SLV	SLV	20,100	$1.1m0.13%	0.13%	Unchanged
41	AKAMAI TECHNOLOGIES INC COM AKAM	AKAM	9,000	$1.1m0.13%	0.13%	New
42	NORFOLK SOUTHN CORP COM NSC	NSC	3,335	$1.0m0.12%	0.12%	Unchanged
43	VALARIS LTD CL A VAL	VAL	14,295	$1.0m0.12%	0.12%	Reduced -2.0k	-1,980 -12.2%
44	VANECK ETF TRUST JUNIOR GOLD MINE GDXJ	GDXJ	10,350	$1.0m0.12%	0.12%	Reduced -7.0k	-7,020 -40.4%
45	ITAU UNIBANCO HLDG S A SPON ADR REP PFD ITUB	ITUB	119,500	$976.3k0.12%	0.12%	Unchanged
46	CONOCOPHILLIPS COM COP	COP	9,180	$954.4k0.11%	0.11%	Added +3.1k	+3,130 51.7%
47	MP MATERIALS CORP COM CL A MP	MP	16,215	$908.2k0.11%	0.11%	Unchanged
48	ROYAL GOLD INC COM RGLD	RGLD	4,100	$818.4k0.10%	0.10%	Unchanged
49	GOLAR LNG LTD SHS GLNG	GLNG	16,000	$797.4k0.09%	0.09%	Unchanged
50	STAR BULK CARRIERS CORP. SHS PAR SBLK	SBLK	30,270	$755.8k0.09%	0.09%	Unchanged
51	GENCO SHIPPING & TRADING LTD SHS GNK	GNK	21,265	$526.9k0.06%	0.06%	Reduced -15.2k	-15,200 -41.7%
52	BRASKEM S A SP ADR PFD A BAK	BAK	119,000	$290.4k0.03%	0.03%	Added +3.3k	+3,300 2.9%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
QNITY ELECTRONICS INC Q	Q	221,600	$25.6m221.6k shares
AERCAP HOLDINGS NV AER	AER	125,000	$17.1m125.0k shares
CIENA CORP CIEN	CIEN	27,665	$10.7m27.7k shares
CHECK POINT SOFTWARE TECH LT CHKP	CHKP	26,000	$3.7m26.0k shares
LITTELFUSE INC LFUS	LFUS	8,000	$2.7m8.0k shares
ISHARES BITCOIN TRUST ETF IBIT	IBIT	40,000	$1.5m40.0k shares
PAYPAL HLDGS INC PYPL	PYPL	30,000	$1.4m30.0k shares
MOTOROLA SOLUTIONS INC MSI	MSI	3,000	$1.3m3.0k shares
CVR ENERGY INC CVI	CVI	33,385	$1.1m33.4k shares
ADVANCED ENERGY INDS AEIS	AEIS	3,000	$968.1k3.0k shares
RTX CORPORATION RTX	RTX	4,150	$800.5k4.2k shares
KRATOS DEFENSE & SEC SOLUTIO KTOS	KTOS	11,015	$776.7k11.0k shares
SUZANO S A SUZ	SUZ	75,000	$750.8k75.0k shares
MOSAIC CO NEW MOS	MOS	27,150	$692.3k27.1k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
INVESCO QQQ TR QQQ · Put	QQQ	Put	900,000	$662.8m900.0k shares	New
VANECK ETF TRUST SMH · Put	SMH	Put	80,000	$52.5m80.0k shares	New
COREWEAVE INC CRWV · Put	CRWV	Put	146,900	$14.6m146.9k shares	Unchanged
VALE S A VALE · Call	VALE	Call	106,000	$1.6m106.0k shares	Reduced