SCHEDULE: Menora Mivtachim Boosts Enlight Renewable Energy Stake

Menora Mivtachim Holdings Ltd. and its subsidiaries reported a combined 6.18% beneficial ownership in Enlight Renewable Energy Ltd. as of December 31, 2025.

Summary

• Menora Mivtachim Holdings Ltd. and its subsidiaries collectively beneficially own 8,155,587 ordinary shares of Enlight Renewable Energy Ltd.
• This aggregate ownership represents 6.18% of Enlight Renewable Energy Ltd.'s total ordinary shares outstanding.
• Menora Mivtachim Pensions & Gemel Ltd., a direct subsidiary, beneficially owns 7,184,795 shares, accounting for 5.44% of the class.
• Other subsidiaries contributing to the aggregate ownership include Menora Mivtachim Insurance Ltd. (911,784 shares or 0.69%), Menora Mivtachim Vehistadrut Hamehandesim Nihul Kupot Gemel Ltd. (50,868 shares or 0.04%), and Shomera Insurance Company Ltd. (8,139 shares or 0.01%).
• The beneficial ownership percentages are based on 132,067,305 ordinary shares outstanding as of December 31, 2025.
• The reporting persons certify that the securities were not acquired and are not held for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive signal, indicating continued institutional confidence in Enlight Renewable Energy Ltd. without suggesting any immediate operational or financial changes.

Positives

• Increased institutional ownership by a significant Israeli financial group, Menora Mivtachim, signals confidence in Enlight Renewable Energy Ltd.'s long-term prospects.
• A substantial stake of 6.18% by a long-term institutional investor can provide stability to the shareholder base and potentially attract further institutional interest.

Risks

• The filing does not detail specific risks related to Enlight Renewable Energy Ltd.'s operations or financial health, as it is solely a beneficial ownership disclosure.

Future Outlook

This filing does not provide any forward-looking statements or guidance regarding Enlight Renewable Energy Ltd.'s future performance or strategic outlook.

Management Comments

• The securities reported herein are beneficially owned by Menora Mivtachim Holdings Ltd. and by entities that are direct or indirect, wholly-owned or majority-owned, subsidiaries of Menora Holdings.
• The economic interest or beneficial ownership in a portion of the securities covered by this report is held for the benefit of insurance policy holders, the owners of portfolio accounts, or the members of the provident funds or pension funds, as the case may be.
• 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.
• 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 increased institutional investment in renewable energy companies like Enlight Renewable Energy Ltd. reflects a broader industry trend towards sustainable investments and the growing confidence in the long-term prospects of the clean energy sector. This move by Menora Mivtachim, a prominent Israeli financial institution, underscores the attractiveness of established players in the global renewable energy market.

Comparison to Industry Standards

• This filing primarily concerns beneficial ownership disclosure by an institutional investor, not the operational or financial performance of Enlight Renewable Energy Ltd. Therefore, a direct comparison to industry-specific operational or financial benchmarks (e.g., project completion rates, energy output, cost per MWh) is not applicable based solely on this Schedule 13G.
• The ownership stake itself represents a significant institutional position, comparable to other large asset managers holding substantial, but non-controlling, stakes in publicly traded companies across various sectors.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake by Menora Mivtachim may be viewed positively, potentially increasing investor confidence and market stability.
• Management: The certification of non-control intent suggests that Menora Mivtachim is a passive investor, which typically means less direct influence on day-to-day management decisions.

Next Steps

• Menora Mivtachim Holdings Ltd. and its subsidiaries will continue to monitor their investment in Enlight Renewable Energy Ltd.
• Future Schedule 13G/A amendments will be filed if there are significant changes (e.g., 1% or more) to their beneficial ownership percentage.

Key Dates

Recommendation

This Schedule 13G filing primarily reports a significant institutional ownership stake by Menora Mivtachim Holdings Ltd. in Enlight Renewable Energy Ltd. While the substantial stake (6.18%) by a reputable financial institution can be seen as a positive indicator of long-term confidence, the filing itself does not provide new operational, financial, or strategic information about Enlight Renewable Energy Ltd. that would warrant a change in investment thesis. Therefore, a "hold" recommendation is appropriate, suggesting investors maintain their current position while awaiting further fundamental updates from the company.

Keywords

Enlight Renewable Energy, Menora Mivtachim, Beneficial Ownership, Institutional Investor, Schedule 13G, Renewable Energy, Equity Stake, Israel