SCHEDULE: Andalusian Funds Report 11.26% Stake in eToro

Andalusian Private Capital, SPV III, and Turkoman Partners have jointly reported beneficial ownership of 11.26% of eToro Group Ltd.'s Class A common shares.

Summary

• Andalusian Private Capital, LP, Andalusian SPV III, LP, and Turkoman Partners, LP (collectively, the "Reporting Persons") have filed a Schedule 13G.
• The filing reports beneficial ownership of 5,679,079 Class A common shares of eToro Group Ltd.
• This aggregate amount represents 11.26% of eToro Group Ltd.'s Class A common shares outstanding.
• The reported securities consist of 2,470,523 Class A common shares and 3,208,556 Class A common shares issuable upon conversion of Class B common shares.
• The percentage is calculated based on 47,220,866 Class A shares outstanding as of May 15, 2025, as reported by eToro in its Prospectus 424B4 filed on May 15, 2025, plus the 3,208,556 Class A shares issuable from Class B conversion.
• The Reporting Persons share both voting and dispositive power over all 5,679,079 shares.
• Jeffrey Kaplan and Nicholas Savasta control the general partners of Andalusian SPV III, LP and Turkoman Partners, LP, and may be deemed to have voting and dispositive authority over the reported securities.

Sentiment

Score: 5

Explanation: The filing is a factual report of beneficial ownership and does not contain information that would inherently suggest positive or negative sentiment regarding the company's performance or outlook.

Future Outlook

This filing is a beneficial ownership report and does not contain forward-looking statements or guidance regarding eToro Group Ltd.'s future performance or operations.

Industry Context

This filing indicates a significant passive investment by a group of funds in eToro Group Ltd., a company operating in the financial technology and online brokerage sector. Such filings are common for institutional investors accumulating stakes in publicly traded companies, reflecting their investment strategy rather than specific industry trends.

Stakeholder Impact

• Shareholders: The disclosure of a significant 11.26% stake by a group of funds could be viewed positively by other shareholders as it indicates institutional confidence in the company, potentially stabilizing or influencing share price.
• Company Management: Management will be aware of a significant new or increased institutional shareholder, which could influence future strategic decisions or engagement.

Key Dates

Keywords

eToro Group Ltd., Schedule 13G, Beneficial Ownership, Class A Shares, Andalusian Private Capital, Andalusian SPV III, Turkoman Partners, Investment Adviser, Private Fund