SCHEDULE: Harel Insurance Discloses Brainsway Stake

Harel Insurance Investments & Financial Services Ltd. has amended its Schedule 13G filing to report beneficial ownership of 3,265,397 ordinary shares in Brainsway Ltd., representing 8.3% of the class.

Summary

• Harel Insurance Investments & Financial Services Ltd. has filed an amendment to its Schedule 13G, reporting its beneficial ownership of Brainsway Ltd. ordinary shares.
• The filing indicates beneficial ownership of 3,265,397 ordinary shares.
• This holding represents approximately 8.3% of Brainsway Ltd.'s outstanding ordinary shares as of December 31, 2025.
• The shares are held through various investment vehicles managed by subsidiaries of Harel Insurance, including provident funds, mutual funds, pension funds, insurance policies, and exchange-traded funds.
• A small portion of shares (5,295) are held for Harel Insurance's own account.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing. It's a standard disclosure of beneficial ownership by an institutional investor, providing transparency without immediate implications for the company's operational or financial performance.

Positives

• Harel Insurance Investments & Financial Services Ltd. has disclosed its significant stake in Brainsway Ltd., providing transparency to the market.
• The filing confirms a substantial holding of 8.3% in Brainsway Ltd. ordinary shares.

Negatives

• The filing clarifies that while Harel Insurance is the reporting entity, the majority of shares are managed by subsidiaries for public members, with independent management and decision-making, limiting Harel's direct control.
• Harel Insurance explicitly states that the filing should not be construed as an admission of beneficial ownership of more than 5,295 shares for its own account.

Risks

• Potential for future changes in beneficial ownership by Harel Insurance or its managed funds.
• Market perception of Harel's investment strategy and its implications for Brainsway's stock.

Future Outlook

No specific forward-looking statements or guidance were provided in this Schedule 13G filing regarding Brainsway Ltd.'s future performance or Harel Insurance's future investment plans.

Management Comments

• "With regard to Rows (6), (8) and (9), please see Item 4."
• "It is hereby clarified that the shares being reported in this Statement as beneficially owned by the Reporting Person are in the form of Ordinary Shares."
• "Consequently, this Statement shall not be construed as an admission by the Reporting Person that it is the beneficial owner of more than 5,295 Ordinary Shares covered by this Statement."
• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."

Industry Context

StockSavvy.ai notes that Schedule 13G filings are routine disclosures for institutional investors crossing certain ownership thresholds. This filing by Harel Insurance Investments & Financial Services Ltd. indicates a significant passive investment in Brainsway Ltd., a company operating in the medical device sector, specifically in non-invasive brain monitoring technologies.

Stakeholder Impact

• Shareholders: Increased transparency regarding a significant institutional investor's stake in Brainsway Ltd.
• Management of Brainsway Ltd.: Awareness of Harel Insurance's passive investment position.
• Regulators: Compliance with SEC disclosure requirements.

Next Steps

• Monitor future filings from Harel Insurance Investments & Financial Services Ltd. for any changes in beneficial ownership.
• Observe Brainsway Ltd.'s performance and strategic developments in the medical device sector.

Key Dates

Keywords

Brainsway Ltd., Harel Insurance, Schedule 13G, Beneficial Ownership, Ordinary Shares, Investment Management, Financial Services