SCHEDULE: Menora Mivtachim Discloses Ellomay Capital Stake

Menora Mivtachim Holdings Ltd. and its subsidiaries have updated their beneficial ownership filing for Ellomay Capital Ltd., reporting a combined stake of 6.97% as of July 22, 2026.

Summary

• Menora Mivtachim Holdings Ltd. and its subsidiaries, including Menora Mivtachim Pensions and Gemel Ltd., Menora Mivtachim Insurance Ltd., and others, have filed an amendment to their Schedule 13G.
• The filing reports a combined beneficial ownership of 961,373.39 ordinary shares of Ellomay Capital Ltd.
• This represents approximately 6.97% of the total ordinary shares outstanding as of July 26, 2026.
• Menora Mivtachim Pensions and Gemel Ltd. holds 860,733.39 shares (6.24%), Menora Mivtachim Insurance Ltd. holds 94,548.64 shares (0.68%), and Menora Mivtachim Vehistadrut Hamehandesim Nihul Kupot Gemel Ltd. holds 6,090.98 shares (0.04%).
• The ownership is held for the benefit of insurance policyholders, portfolio account owners, or members of provident/pension funds.
• The reporting persons disclaim beneficial ownership beyond their pecuniary interest.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing. It's a routine ownership disclosure without new financial or strategic information, making it neither strongly positive nor negative.

Positives

• Significant stake held by a major financial institution, potentially indicating confidence in Ellomay Capital.
• Clear disclosure of beneficial ownership structure, providing transparency to investors.
• The filing confirms a substantial holding, which could be interpreted as a stable investor base.

Negatives

• The filing does not contain financial performance data or strategic updates, limiting insight into the company's operational health.
• The disclaimer of beneficial ownership beyond pecuniary interest may create ambiguity for some stakeholders.

Risks

• Potential for future changes in beneficial ownership, which could impact share price and control.
• The economic interest is held for various fund members, introducing a layer of complexity in direct control and decision-making.

Future Outlook

This filing is primarily a disclosure of beneficial ownership and does not contain forward-looking statements or specific guidance regarding Ellomay Capital's future performance.

Management Comments

• "This statement on Schedule 13G shall not be construed as an admission by Menora Holdings or by any of the Subsidiaries that it is the beneficial owner of any of such securities covered by this statement on Schedule 13G, and each of Menora Holdings and the Subsidiaries disclaims beneficial ownership of any such securities except to the extent of its pecuniary interest therein."

Industry Context

StockSavvy.ai notes that Schedule 13G filings are routine disclosures for institutional investors exceeding a certain ownership threshold. This filing indicates Menora Mivtachim's continued significant investment in Ellomay Capital, a renewable energy company.

Stakeholder Impact

• Shareholders: Increased transparency regarding a significant institutional investor's holdings.
• Creditors: Stable ownership by a large financial group may imply continued financial backing.
• Fund Members: Their capital is being managed through these investments, with economic interest in Ellomay Capital's performance.

Next Steps

• Monitor future filings for any changes in beneficial ownership by Menora Mivtachim Holdings Ltd. or its subsidiaries.
• Review Ellomay Capital Ltd.'s subsequent financial reports for operational and strategic updates.

Key Dates

Keywords

Ellomay Capital, Schedule 13G, Beneficial Ownership, Menora Mivtachim, Ordinary Shares, Investment Holdings, Securities Exchange Act