SCHEDULE: Harel Insurance Discloses 4.4% Stake in ICL Group

Harel Insurance Investments & Financial Services Ltd. reported a 4.4% beneficial ownership stake in ICL Group Ltd. as of December 31, 2025.

Summary

• Harel Insurance Investments & Financial Services Ltd. (the "Reporting Person") filed an Amendment No. 4 to Schedule 13G regarding its beneficial ownership in ICL Group Ltd.
• As of December 31, 2025, the Reporting Person beneficially owned an aggregate of 56,619,519 Ordinary Shares of ICL Group Ltd.
• This ownership represents 4.4% of ICL Group Ltd.'s outstanding Ordinary Shares, based on 1,290,672,524 shares issued and outstanding as of July 1, 2025.
• The majority of the beneficially owned shares, 54,331,937, are held for members of the public through various funds and insurance policies managed by subsidiaries of the Reporting Person.
• An additional 2,245,934 Ordinary Shares are held by third-party client accounts managed by a subsidiary of the Reporting Person as portfolio managers, with no voting power in these specific client accounts.
• Only 41,648 Ordinary Shares are beneficially held for Harel Insurance's own account.
• The filing certifies that the securities were not acquired and are not held for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral-to-slightly positive disclosure, indicating a significant, passive institutional stake in ICL Group, which generally reflects confidence without implying active management influence.

Positives

• The disclosure of a significant 4.4% passive institutional stake by Harel Insurance Investments & Financial Services Ltd. may signal long-term investor confidence in ICL Group Ltd.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding ICL Group Ltd.'s future performance or strategic direction.

Industry Context

StockSavvy.ai notes that Schedule 13G filings provide essential transparency into significant passive institutional ownership, which can indicate a long-term investment perspective from major financial entities like Harel Insurance in companies such as ICL Group, a global specialty minerals company. This type of filing typically reflects a portfolio allocation decision rather than an active strategic move.

Comparison to Industry Standards

• This Schedule 13G filing is a standard regulatory disclosure for reporting passive beneficial ownership of 5% or more (or a change in a previously reported stake) in a public company, aligning with global benchmarks for transparency in capital markets.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's passive stake, which can be viewed as a vote of confidence in the company's long-term prospects.
• ICL Group: Awareness of a substantial, passive institutional investor holding a significant portion of its outstanding shares.

Key Dates

Recommendation

The filing is a routine disclosure of a passive ownership stake by an institutional investor. It does not contain new financial performance data, strategic shifts, or other material information that would significantly alter the investment thesis for ICL Group. The 4.4% stake held by Harel Insurance, largely on behalf of clients, indicates a long-term, passive investment, suggesting a 'hold' position for investors awaiting more substantive operational or financial updates.

Keywords

ICL Group, Harel Insurance, Schedule 13G, Beneficial Ownership, Ordinary Shares, Institutional Investor, SEC Filing, Israel