SCHEDULE: Phoenix Financial Discloses 5.04% Stake in Similarweb

Phoenix Financial Ltd. has reported a 5.04% beneficial ownership stake in Similarweb Ltd., holding 4,173,324 ordinary shares as of December 15, 2025.

Summary

• Phoenix Financial Ltd., through its various direct or indirect subsidiaries, beneficially owns 4,173,324 ordinary shares of Similarweb Ltd.
• This ownership represents 5.04% of Similarweb Ltd.'s total ordinary shares outstanding, calculated based on 82,829,428 shares as of December 16, 2025.
• The shares are distributed among Phoenix Investments House trust funds (38 shares), Phoenix "nostro" accounts (216,904 shares), and Partnership for Israeli shares (3,956,382 shares).
• Phoenix Financial Ltd. is an Israeli entity, and its subsidiaries manage their respective funds with independent voting and investment decisions.
• A certification states that the securities were not acquired to change or influence control of Similarweb Ltd.

Sentiment

Score: 7

Explanation: The disclosure of a significant and maintained institutional stake (5.04%) by Phoenix Financial Ltd. in Similarweb Ltd. is generally viewed positively, indicating investor confidence. The filing itself is a routine disclosure, but the underlying ownership is a positive signal.

Positives

• A significant institutional investor, Phoenix Financial Ltd., maintains a substantial 5.04% stake in Similarweb Ltd., indicating continued confidence.
• The diversified holding across various Phoenix Group entities suggests a strategic investment approach.

Risks

• Phoenix Financial Ltd. disclaims the existence of a "group" for purposes of Section 13(d) of the Securities Exchange Act of 1934, which could be a legal clarification to avoid certain regulatory implications.
• Each reporting person disclaims any beneficial ownership of the securities in excess of their actual pecuniary interest therein.

Future Outlook

The filing does not provide any forward-looking statements or guidance regarding Similarweb Ltd.'s future performance or strategic direction, as it is an ownership disclosure by an investor.

Management Comments

• Phoenix Financial Ltd. certified that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of Similarweb Ltd.
• The company also disclaims the existence of a group for Section 13(d) purposes and any beneficial ownership in excess of their actual pecuniary interest.

Industry Context

This filing indicates continued institutional interest in Similarweb Ltd., a company operating in the digital intelligence and analytics sector. The maintenance of a significant stake by a large financial institution like Phoenix Financial Ltd. suggests a positive long-term view on the company's market position and growth prospects within its industry.

Stakeholder Impact

• Shareholders: The continued significant stake by a major institutional investor may instill confidence among other shareholders, potentially stabilizing or positively influencing the stock price.
• Company Management: The substantial institutional ownership could imply a level of oversight or engagement from a large investor, though the filing explicitly states no intent to influence control.

Key Dates

Recommendation

This Schedule 13G filing is a disclosure of beneficial ownership by an institutional investor, Phoenix Financial Ltd., in Similarweb Ltd. While the maintenance of a 5.04% stake by a significant investor can be seen as a positive signal of confidence, the filing itself does not provide new operational or financial data to warrant a 'buy' or 'sell' recommendation. It primarily confirms an an existing, albeit slightly adjusted, institutional position. Therefore, a 'hold' recommendation is appropriate, pending further fundamental analysis of Similarweb Ltd.'s financial performance and strategic developments.

Keywords

Similarweb, Phoenix Financial, Schedule 13G, Beneficial Ownership, Ordinary Shares, Institutional Investor, Equity Stake, M84137104, Israel