SCHEDULE: eToro Group Ltd. Ownership Update

BRM Group Ltd. and affiliated entities report beneficial ownership of 8.26% of eToro Group Ltd. Class A common shares.

Summary

• BRM Group Ltd., A B Y Finance (eToro) 21 LP, Eli Barkat Ltd., and Yuval Rakavi Ltd. have jointly filed a Schedule 13G, indicating their beneficial ownership of eToro Group Ltd. Class A common shares.
• The total number of shares beneficially owned by these reporting persons is 5,782,212, representing 8.26% of the class.
• This ownership is comprised of directly held Class A shares and Class A shares issuable upon conversion of Class B shares.
• Specifically, the holdings include 1,719,908 Class A shares held by BRM Group, plus 2,484,852 Class A shares issuable from BRM Group's Class B shares.
• A B Y Finance holds 153,052 Class A shares.
• Eli Barkat directly holds 147,600 Class A shares and 200,624 Class A shares issuable from Class B shares.
• Yuval Rakavi directly holds 523,960 Class A shares and 552,216 Class A shares issuable from Class B shares.
• The total number of outstanding Class A common shares is reported as 70,044,443 as of February 20, 2026.
• Investment and voting power for these shares are exercised by Arie Nachmias (CFO) and Eli Barkat (Active Chairman) of BRM Group.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral; it's a standard disclosure of ownership and does not provide new financial or strategic information about the company's performance or future prospects.

Positives

• Significant beneficial ownership stake of 8.26% reported by BRM Group and affiliated entities, indicating substantial investor interest.
• Clear breakdown of shareholdings, including directly held and convertible shares, provides transparency.
• The reporting is up-to-date as of March 31, 2026, reflecting current ownership structures.

Negatives

• The filing does not contain financial performance data, making it impossible to assess the company's operational health.
• No information is provided regarding the reasons for this ownership structure or any strategic intentions behind it.

Risks

• Potential for future changes in ownership concentration if these entities decide to divest their holdings.
• The reliance on a few key individuals (Arie Nachmias and Eli Barkat) for voting and investment decisions could pose a governance risk if their interests diverge from other shareholders.

Future Outlook

This filing is primarily an ownership disclosure and does not contain forward-looking statements or financial guidance from eToro Group Ltd.

Management Comments

• "Each of the foregoing entities may be deemed to share voting, investment and dispositive power with respect to these securities."
• "Investment and voting power of the shares held by each of the foregoing entities is exercised by the executives of BRM Group, who are Arie Nachmias, Chief Financial Officer, and Eli Barkat, Active Chairman."
• "Each Reporting Person disclaims beneficial ownership of all securities reported in this Statement except to the extent of such Reporting Person's pecuniary interest therein, if any, other than those securities reported herein as being held directly by such Reporting Person."

Industry Context

StockSavvy.ai notes that Schedule 13G filings are common for institutional investors and significant shareholders to report their stakes. The 8.26% ownership by BRM Group and its affiliates in eToro Group Ltd. signifies a notable concentration of shares, which could influence corporate governance and strategic decisions within the online trading and investment platform sector.

Stakeholder Impact

• Shareholders: The concentration of ownership may influence voting outcomes on corporate matters and potentially impact share price if significant buying or selling activity occurs.
• Management: The reporting persons, through their designated executives, hold significant voting and investment power, which could influence management decisions and strategic direction.
• Creditors: While not directly impacted by this ownership filing, significant shifts in control could indirectly affect perceived company stability.

Next Steps

• Continued monitoring of ownership changes by BRM Group and affiliated entities.
• Observation of any future strategic actions or voting patterns by these significant shareholders.

Key Dates

Keywords

eToro Group Ltd., Schedule 13G, BRM Group Ltd., Beneficial Ownership, Class A common shares, Class B common shares, SEC Filing, Ownership Stake, Investment, Voting Power