SCHEDULE: Migdal Insurance Discloses Ormat Technologies Stake

Migdal Insurance & Financial Holdings Ltd. has filed a Schedule 13G, reporting a 5.99% beneficial ownership in Ormat Technologies, Inc. common stock as of June 30, 2026.

Summary

• Migdal Insurance & Financial Holdings Ltd. (and its subsidiaries) reported beneficial ownership of 3,681,980.51 shares of Ormat Technologies, Inc. common stock.
• This holding represents 5.99% of the class of securities outstanding as of July 8, 2026.
• The filing is an amendment (No. 1) to a previous Schedule 13G.
• The shares are held by various subsidiaries, including Migdal Insurance Company Ltd., Migdal Sal Domestic Equities, Migdal Makefet Pension & Provident Funds Ltd., and Migdal Mutual Funds Ltd.
• These subsidiaries manage funds for insurance policyholders, pension fund members, and mutual fund unit holders.
• Each subsidiary operates under independent management and makes its own voting and investment decisions.
• Migdal Insurance & Financial Holdings Ltd. disclaims beneficial ownership in excess of its actual pecuniary interest and denies the existence of a group for Section 13(d) purposes.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it primarily reports existing ownership stakes and does not contain new operational or financial performance information for Ormat Technologies, Inc.

Positives

• Migdal Insurance & Financial Holdings Ltd. has a significant stake (5.99%) in Ormat Technologies, Inc., indicating investor confidence.
• The filing clarifies the ownership structure and beneficial interest, providing transparency to the market.

Negatives

• The filing does not contain any negative financial results or operational issues for Ormat Technologies, Inc.

Risks

• The ownership structure involves multiple subsidiaries, each making independent decisions, which could lead to complex voting or disposition strategies.
• Changes in the ownership rights held by companies within the Migdal Group in the partnership (Migdal Sal Domestic Equities) can occur frequently according to the partnership agreement.

Future Outlook

The filing does not contain specific forward-looking statements or guidance from Ormat Technologies, Inc. It focuses on reporting ownership stakes.

Management Comments

• Each of the Subsidiaries manages their own funds and/or the funds of others, including for holders of various insurance policies, members of pension or provident funds, unit holders of mutual funds, portfolio management clients and their nostro accounts.
• Each of the Subsidiaries operates under independent management and makes its own independent voting and investment decisions.
• Neither the filing of this Schedule 13G nor any of its contents shall be deemed to constitute an admission by either the Filing Persons or Subsidiaries that a group exists for purposes of Section 13(d) of the Securities Exchange Act of 1934 or for any other purpose, and each reporting person disclaims the existence of any such group.
• The economic interest or beneficial ownership in a portion of the securities covered by this Statement (including the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities) 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.
• In addition, each of the Filing Persons and Subsidiaries disclaims any beneficial ownership of the securities covered by this report in excess of their actual pecuniary interest therein.
• This Statement shall not be construed as an admission by the Filing Persons or Subsidiaries that they are the beneficial owners of any of the Ordinary Shares covered by this Statement.

Industry Context

StockSavvy.ai notes that this Schedule 13G filing by Migdal Insurance & Financial Holdings Ltd. indicates a significant institutional investment in Ormat Technologies, Inc., a key player in the geothermal and recovered energy power business. Such filings are common for large investors accumulating or maintaining substantial stakes in publicly traded companies.

Stakeholder Impact

• Shareholders: Increased transparency regarding significant institutional ownership may influence market perception and trading activity.
• Insurance Policy Holders and Fund Members: Their assets are indirectly represented by Migdal's investment, with the filing indicating a diversified portfolio management approach.

Key Dates

Keywords

Ormat Technologies, Schedule 13G, Migdal Insurance, Beneficial Ownership, Common Stock, Investment Holdings, Securities Exchange Act