SCHEDULE: Menora Mivtachim Updates 8.67% Stake in Ellomay Capital

Menora Mivtachim Holdings Ltd. and its subsidiaries have updated their beneficial ownership in Ellomay Capital Ltd. to 8.67% as of December 31, 2025.

Summary

• Menora Mivtachim Holdings Ltd. and its direct and indirect subsidiaries collectively beneficially own 1,195,025 ordinary shares of Ellomay Capital Ltd., representing 8.67% of the total ordinary shares outstanding.
• Menora Mivtachim Pensions & Gemel Ltd., a subsidiary, directly beneficially owns 1,060,380 ordinary shares, accounting for 7.70% of the outstanding shares.
• Other subsidiaries contributing to the aggregate ownership include Menora Mivtachim Insurance Ltd. with 127,138 shares (0.92%) and Menora Mivtachim Vehistadrut Hamehandesim Nihul Kupot Gemel Ltd. with 7,507 shares (0.05%).
• The beneficial ownership percentages are calculated based on 13,779,585 ordinary shares of Ellomay Capital Ltd. outstanding as of December 31, 2025, as previously reported by the issuer.
• The reporting persons certify that the securities were not acquired and are not held for the purpose of changing or influencing the control of Ellomay Capital Ltd.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a routine regulatory update confirming a significant, passive institutional stake in Ellomay Capital, which is generally a positive sign of investor confidence without indicating any new strategic developments.

Positives

• Continued significant institutional investment in Ellomay Capital Ltd. by Menora Mivtachim, indicating ongoing confidence.
• Enhanced transparency provided through the updated Schedule 13G filing regarding major shareholder positions.

Risks

• The filing includes a disclaimer that Menora Mivtachim Holdings Ltd. and its subsidiaries do not admit beneficial ownership of any securities covered by the statement, except to the extent of their pecuniary interest therein.

Future Outlook

No forward-looking statements or guidance are provided in this beneficial ownership disclosure.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are routine regulatory disclosures by passive institutional investors who acquire more than 5% of a company's voting stock. This amendment indicates Menora Mivtachim's continued significant, but passive, investment in Ellomay Capital, which is a common strategy for large asset managers and pension funds seeking long-term exposure without seeking to influence corporate control.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership, which can be interpreted as a positive signal of investor confidence.
• Management: Awareness of a large, passive institutional holder, which typically implies stability in the shareholder base.

Key Dates

Keywords

Ellomay Capital, Menora Mivtachim Holdings, Menora Mivtachim Pensions & Gemel, Schedule 13G, beneficial ownership, institutional investment, ordinary shares, M39927120, Israel