SCHEDULE: Migdal Insurance Discloses 5.1% Stake in Camtek Ltd.

Migdal Insurance & Financial Holdings Ltd. and its subsidiaries have reported a 5.1% beneficial ownership stake in Camtek Ltd., totaling 2,332,037 ordinary shares as of December 31, 2025.

Summary

• Migdal Insurance & Financial Holdings Ltd., through its various direct or indirect subsidiaries (including Migdal Insurance Company Ltd., Migdal Sal Domestic Equities, Migdal Makefet Pension & Provident Funds Ltd., and Migdal Mutual Funds Ltd.), has reported beneficial ownership of 2,332,037 ordinary shares of Camtek Ltd.
• This stake represents 5.1% of Camtek Ltd.'s total ordinary shares outstanding, based on 45,766,257 shares outstanding as of September 30, 2025.
• The ownership threshold triggering this Schedule 13G filing was met as of December 31, 2025.
• As of January 20, 2026, Migdal Sal Domestic Equities beneficially owned 1,891,465 ordinary shares (4.13% of total outstanding), and Migdal Mutual Funds Ltd. beneficially owned 440,572 ordinary shares (0.96% of total outstanding).
• The reporting persons certify that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of Camtek Ltd.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive development, as a major financial institution has taken a significant passive stake in Camtek Ltd., suggesting confidence in the company's value.

Positives

• A significant institutional investor, Migdal Insurance & Financial Holdings Ltd., has disclosed a 5.1% beneficial ownership stake in Camtek Ltd., indicating institutional confidence in the company.
• The filing explicitly states that the securities were not acquired for the purpose of changing or influencing control, suggesting a passive investment intent and stability for current management.

Risks

• The filing does not detail specific risks related to Camtek Ltd.'s operations or financial health.
• The reporting person disclaims any intent to change or influence control, mitigating a potential risk associated with large institutional stakes.

Future Outlook

This Schedule 13G filing does not contain any forward-looking statements or guidance regarding Camtek Ltd.'s future outlook.

Management Comments

• Each of the Subsidiaries operates under independent management and makes its own independent voting and investment decisions.
• Neither the filing of this Schedule 13G nor any of its contents shall be deemed to constitute an admission by either the Filing Persons or Subsidiaries that a group exists for purposes of Section 13(d) of the Securities Exchange Act of 1934 or for any other purpose, and each reporting person disclaims the existence of any such group.
• 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 a significant stake taken by a major financial institution like Migdal Insurance & Financial Holdings Ltd. can often be interpreted positively by the market, signaling institutional confidence in Camtek Ltd.'s long-term prospects within its industry. This type of passive investment suggests a belief in the company's current management and strategic direction without an intent to intervene.

Comparison to Industry Standards

• This filing is a disclosure of beneficial ownership and does not contain performance metrics for comparison to industry standards or specific comparable companies/projects. Therefore, a direct assessment against global benchmarks is not applicable based on the content of this document.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake may increase investor confidence and potentially lead to positive share price movement, as it signals a vote of confidence from a large financial entity.
• Management: The passive nature of the investment, explicitly stating no intent to influence control, suggests that current management can continue executing its strategy without immediate pressure from this new large shareholder.

Next Steps

• No specific future actions, events, or milestones for Camtek Ltd. are mentioned in this ownership disclosure filing.

Key Dates

Recommendation

The disclosure of a 5.1% beneficial ownership by a major institutional investor like Migdal Insurance & Financial Holdings Ltd. is generally a positive signal, indicating institutional confidence in Camtek Ltd. However, as a passive investment without any operational updates or strategic changes, it primarily reinforces a 'hold' position for existing investors rather than prompting a 'buy' or 'sell' recommendation based solely on this filing.

Keywords

Camtek Ltd, Migdal Insurance, Schedule 13G, Beneficial Ownership, Ordinary Shares, Institutional Investment, M20791105, Israel