# EDGAR Filing Document

**Accession Number:** 0001603837
**File Stem:** 0001178913-25-003858
**Filing Date:** 2025-11
**Character Count:** 10549
**Document Hash:** f909d6e0a3f875ac24da872b4363b8c3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001178913-25-003858.hdr.sgml**: 20251114

**ACCESSION NUMBER**: 0001178913-25-003858

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251114

**DATE AS OF CHANGE**: 20251114

**EFFECTIVENESS DATE**: 20251114

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ion Asset Management Ltd.
- **CENTRAL INDEX KEY:** 0001603837

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-16590
- **FILM NUMBER:** 251487300

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 89 MEDINAT HA-YEHUDIM ST
- **CITY:** HERZLIYA
- **PROVINCE COUNTRY:** L3
- **ZIP:** 4676672
- **BUSINESS PHONE:** 972-09-970-3620

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 89 MEDINAT HA-YEHUDIM ST
- **CITY:** HERZLIYA
- **PROVINCE COUNTRY:** L3
- **ZIP:** 4676672

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Ion Asset Management Ltd.<br>**Address:** 89 Medinat Ha-yehudim St<br>Herzliya, L3 4676672

**Form 13F File Number:** 028-16590

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Jonathan Half / Stephen Levey<br>**Title:** Director/Director<br>**Phone:** 972-9-970-3620

**Signature, Place, and Date of Signing:**

/s/ Jonathan Half   /s/ Stephen Levey  Herzliya, L3  11-12-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 1

**Form 13F Information Table Entry Total:** 67

**Form 13F Information Table Value Total:** $910569749

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

| No.   | Name         | Form 13F File Number   |
|:---|:---|:---|
|  | ION Tech Ltd | 028-19552              |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| BLOCK INC | CL A | 852234103 |  | 9395100 | 130000 | SH |  | SOLE | 1 | 130000 | 0 | 0 |
| CHECK POINT SOFTWARE TECH LT | ORD | M22465104 |  | 10345500 | 50000 | SH |  | SOLE | 1 | 50000 | 0 | 0 |
| COSTAR GROUP INC | COM | 22160N109 |  | 15186600 | 180000 | SH |  | SOLE | 1 | 180000 | 0 | 0 |
| DYNATRACE INC | COM NEW | 268150109 |  | 9690000 | 200000 | SH |  | SOLE | 1 | 200000 | 0 | 0 |
| ETORO GROUP LTD | SHS CL A | G32089107 |  | 7841300 | 190000 | SH |  | SOLE | 1 | 190000 | 0 | 0 |
| ILLUMINA INC | COM | 452327109 |  | 14245500 | 150000 | SH |  | SOLE | 1 | 150000 | 0 | 0 |
| INTERACTIVE BROKERS GROUP IN | COM CL A | 45841N107 |  | 1376200 | 20000 | SH |  | SOLE | 1 | 20000 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 2600000 | 40000 | SH |  | SOLE | 1 | 40000 | 0 | 0 |
| ITRON INC | COM | 465741106 |  | 8968320 | 72000 | SH |  | SOLE | 1 | 72000 | 0 | 0 |
| KLARNA GROUP PLC | SHS | G5279N105 |  | 1832500 | 50000 | SH |  | SOLE | 1 | 50000 | 0 | 0 |
| LUMENTUM HLDGS INC | COM | 55024U109 |  | 1301680 | 8000 | SH |  | SOLE | 1 | 8000 | 0 | 0 |
| MOBILEYE GLOBAL INC | COMMON CLASS A | 60741F104 |  | 3388800 | 240000 | SH |  | SOLE | 1 | 240000 | 0 | 0 |
| MONDAY COM LTD | SHS | M7S64H106 |  | 10652950 | 55000 | SH |  | SOLE | 1 | 55000 | 0 | 0 |
| OKTA INC | CL A | 679295105 |  | 11921000 | 130000 | SH |  | SOLE | 1 | 130000 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 837870 | 3000 | SH |  | SOLE | 1 | 3000 | 0 | 0 |
| TTM TECHNOLOGIES INC | COM | 87305R109 |  | 921600 | 16000 | SH |  | SOLE | 1 | 16000 | 0 | 0 |
| VARONIS SYS INC | COM | 922280102 |  | 5172300 | 90000 | SH |  | SOLE | 1 | 90000 | 0 | 0 |
| VIA TRANSN INC | COM CL A | 92556W104 |  | 4808000 | 100000 | SH |  | SOLE | 1 | 100000 | 0 | 0 |
| AERCAP HOLDINGS NV | SHS | N00985106 |  | 36300000 | 300000 | SH |  | SOLE |  | 300000 | 0 | 0 |
| AGNICO EAGLE MINES LTD | COM | 008474108 |  | 1774937 | 10530 | SH |  | SOLE |  | 10530 | 0 | 0 |
| AMICUS THERAPEUTICS INC | COM | 03152W109 |  | 6874599 | 872411 | SH |  | SOLE |  | 872411 | 0 | 0 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 |  | 727932 | 12185 | SH |  | SOLE |  | 12185 | 0 | 0 |
| CARPENTER TECHNOLOGY CORP | COM | 144285103 |  | 4026856 | 16400 | SH |  | SOLE |  | 16400 | 0 | 0 |
| CHECK POINT SOFTWARE TECH LT | ORD | M22465104 |  | 43164530 | 208615 | SH |  | SOLE |  | 208615 | 0 | 0 |
| CIENA CORP | COM NEW | 171779309 |  | 30870969 | 211924 | SH |  | SOLE |  | 211924 | 0 | 0 |
| COREWEAVE INC | COM CL A | 21873S108 |  | 20103265 | 146900 | SH | Put | SOLE |  | 146900 | 0 | 0 |
| COSTAR GROUP INC | COM | 22160N109 |  | 29866980 | 354000 | SH |  | SOLE |  | 354000 | 0 | 0 |
| CUMMINS INC | COM | 231021106 |  | 1303011 | 3085 | SH |  | SOLE |  | 3085 | 0 | 0 |
| CVR ENERGY INC | COM | 12662P108 |  | 1217885 | 33385 | SH |  | SOLE |  | 33385 | 0 | 0 |
| CVR PARTNERS LP | COM | 126633205 |  | 3640217 | 40393 | SH |  | SOLE |  | 40393 | 0 | 0 |
| DANAOS CORPORATION | SHS | Y1968P121 |  | 35416124 | 394345 | SH |  | SOLE |  | 394345 | 0 | 0 |
| DELEK US HLDGS INC NEW | COM | 24665A103 |  | 59538150 | 1845000 | SH |  | SOLE |  | 1845000 | 0 | 0 |
| DUPONT DE NEMOURS INC | COM | 26614N102 |  | 35132900 | 451000 | SH |  | SOLE |  | 451000 | 0 | 0 |
| EOG RES INC | COM | 26875P101 |  | 224240 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| ETORO GROUP LTD | SHS CL A | G32089107 |  | 412700 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 844014 | 21520 | SH |  | SOLE |  | 21520 | 0 | 0 |
| GENCO SHIPPING  TRADING LTD | SHS | Y2685T131 |  | 649077 | 36465 | SH |  | SOLE |  | 36465 | 0 | 0 |
| GLOBAL X FDS | GLOBAL X SILVER | 37954Y848 |  | 2206204 | 30800 | SH |  | SOLE |  | 30800 | 0 | 0 |
| GOLAR LNG LTD | SHS | G9456A100 |  | 646560 | 16000 | SH |  | SOLE |  | 16000 | 0 | 0 |
| ILLUMINA INC | COM | 452327109 |  | 23172680 | 244000 | SH |  | SOLE |  | 244000 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 72044400 | 120000 | SH | Put | SOLE |  | 120000 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 40343655 | 952175 | SH |  | SOLE |  | 952175 | 0 | 0 |
| ISHARES TR | MSCI SAUDI ARBIA | 46434V423 |  | 1067254 | 26300 | SH |  | SOLE |  | 26300 | 0 | 0 |
| KE HLDGS INC | SPONSORED ADS | 482497104 |  | 539600 | 28400 | SH |  | SOLE |  | 28400 | 0 | 0 |
| KRATOS DEFENSE  SEC SOLUTIO | COM NEW | 50077B207 |  | 1122480 | 12285 | SH |  | SOLE |  | 12285 | 0 | 0 |
| LAMB WESTON HLDGS INC | COM | 513272104 |  | 30486482 | 524905 | SH |  | SOLE |  | 524905 | 0 | 0 |
| MOSAIC CO NEW | COM | 61945C103 |  | 941562 | 27150 | SH |  | SOLE |  | 27150 | 0 | 0 |
| MP MATERIALS CORP | COM CL A | 553368101 |  | 870904 | 12985 | SH |  | SOLE |  | 12985 | 0 | 0 |
| NAVIOS MARITIME PARTNERS L P | COM UNIT LPI | Y62267409 |  | 20993300 | 466000 | SH |  | SOLE |  | 466000 | 0 | 0 |
| NEXGEN ENERGY LTD | COM | 65340P106 |  | 21015495 | 2348100 | SH |  | SOLE |  | 2348100 | 0 | 0 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 564771 | 1880 | SH |  | SOLE |  | 1880 | 0 | 0 |
| NUTRIEN LTD | COM | 67077M108 |  | 830747 | 14150 | SH |  | SOLE |  | 14150 | 0 | 0 |
| PAR PAC HOLDINGS INC | COM NEW | 69888T207 |  | 1305581 | 36860 | SH |  | SOLE |  | 36860 | 0 | 0 |
| PERRIGO CO PLC | SHS | G97822103 |  | 39195200 | 1760000 | SH |  | SOLE |  | 1760000 | 0 | 0 |
| PHINIA INC | COMMON STOCK | 71880K101 |  | 30663798 | 533469 | SH |  | SOLE |  | 533469 | 0 | 0 |
| ROYAL GOLD INC | COM | 780287108 |  | 822378 | 4100 | SH |  | SOLE |  | 4100 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 694420 | 4150 | SH |  | SOLE |  | 4150 | 0 | 0 |
| SOUTHERN COPPER CORP | COM | 84265V105 |  | 736170 | 6066 | SH |  | SOLE |  | 6066 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 2385204 | 6710 | SH |  | SOLE |  | 6710 | 0 | 0 |
| STAR BULK CARRIERS CORP. | SHS PAR | Y8162K204 |  | 562719 | 30270 | SH |  | SOLE |  | 30270 | 0 | 0 |
| TEVA PHARMACEUTICAL INDS LTD | SPONSORED ADS | 881624209 |  | 111302000 | 5510000 | SH |  | SOLE |  | 5510000 | 0 | 0 |
| TRANSOCEAN LTD | REGISTERED SHS | H8817H100 |  | 13096758 | 4197679 | SH |  | SOLE |  | 4197679 | 0 | 0 |
| VALARIS LTD | CL A | G9460G101 |  | 763251 | 15650 | SH |  | SOLE |  | 15650 | 0 | 0 |
| VALE S A | SPONSORED ADS | 91912E105 |  | 888348 | 81800 | SH |  | SOLE |  | 81800 | 0 | 0 |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 92189F791 |  | 1832055 | 18500 | SH |  | SOLE |  | 18500 | 0 | 0 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 55370518 | 724745 | SH |  | SOLE |  | 724745 | 0 | 0 |
| WHEATON PRECIOUS METALS CORP | COM | 962879102 |  | 1531649 | 13695 | SH |  | SOLE |  | 13695 | 0 | 0 |

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