SCHEDULE: Harel Insurance Discloses Tower Semiconductor Stake

Harel Insurance Investments & Financial Services Ltd. has filed a Schedule 13G, reporting beneficial ownership of 5.1% of Tower Semiconductor Ltd.'s ordinary shares.

Summary

• Harel Insurance Investments & Financial Services Ltd. has filed a Schedule 13G, indicating it beneficially owns 5,700,478 ordinary shares of Tower Semiconductor Ltd.
• This holding represents approximately 5.1% of the company's outstanding ordinary shares as of March 31, 2026.
• The shares are held across various managed funds and client accounts, with Harel Insurance Investments & Financial Services Ltd. itself directly holding 173,920 shares.
• The filing clarifies that while Harel Insurance Investments & Financial Services Ltd. is the reporting entity, its subsidiaries manage the majority of these shares independently, making independent voting and investment decisions.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it is a routine disclosure of beneficial ownership by an institutional investor and does not contain operational or financial performance information about the company itself.

Positives

• Harel Insurance Investments & Financial Services Ltd. has disclosed its significant stake, providing transparency to the market regarding its investment in Tower Semiconductor Ltd.
• The filing indicates a diversified holding structure, with the majority of shares managed by subsidiaries for public members through various funds, suggesting a broad base of underlying investors.

Negatives

• The filing does not contain any negative financial results or operational issues for Tower Semiconductor Ltd. itself; it is purely a disclosure of beneficial ownership.
• Harel Insurance Investments & Financial Services Ltd. explicitly states that its beneficial ownership for its own account is only 173,920 shares, with the remainder held for public members and third-party clients, potentially diluting the direct influence of Harel Insurance Investments & Financial Services Ltd. as a single entity.

Risks

• The filing does not explicitly mention any risks related to Tower Semiconductor Ltd.'s operations or Harel Insurance Investments & Financial Services Ltd.'s investment strategy.
• Potential future changes in investment strategy by Harel Insurance Investments & Financial Services Ltd. or its subsidiaries could lead to changes in their stake in Tower Semiconductor Ltd.

Future Outlook

The filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding Tower Semiconductor Ltd.'s future performance or Harel Insurance Investments & Financial Services Ltd.'s investment plans.

Management Comments

• "With regard to Rows (6), (8) and (9), please see Item 4."
• "Row (11) is based on 112,824,944 Ordinary Shares issued and outstanding as of March 31, 2026 (as reported by the Issuer in Exhibit 99.1 to its Report on Form 6-K filed with the Securities and Exchange Commission on May 21, 2026)."
• "Of the 5,700,478 Ordinary Shares reported in this Statement as beneficially owned by the Reporting Person, (i) 5,482,801 Ordinary Shares are held for members of the public through, among others, provident funds and/or mutual funds and/or pension funds and/or insurance policies and/or exchange traded funds, which are managed by subsidiaries of the Reporting Person, each of which subsidiaries operates under independent management and makes independent voting and investment decisions, (ii) 43,757 Ordinary Shares are held by third-party client accounts managed by a subsidiary of the Reporting Person as portfolio managers, which subsidiary operates under independent management and makes independent investment decisions and has no voting power in the securities held in such client accounts, and (iii) 173,920 Ordinary Shares are beneficially held for its own account."
• "Consequently, this Statement shall not be construed as an admission by the Reporting Person that it is the beneficial owner of more than 173,920 Ordinary Shares covered by this Statement."
• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."

Industry Context

StockSavvy.ai notes that this Schedule 13G filing by Harel Insurance Investments & Financial Services Ltd. indicates a significant institutional investment in Tower Semiconductor Ltd., a player in the semiconductor manufacturing industry. Such filings are common for large asset managers and financial institutions building positions in publicly traded companies, reflecting confidence or strategic allocation within the technology sector.

Stakeholder Impact

• Shareholders of Tower Semiconductor Ltd.: Increased transparency regarding institutional ownership, potentially indicating stable or growing institutional interest.
• Underlying investors in Harel Insurance Investments & Financial Services Ltd.'s funds: Benefit from diversified investment portfolios managed by experienced entities.
• Regulators (SEC): Receive timely and accurate disclosure of significant shareholdings as required by law.

Next Steps

• Harel Insurance Investments & Financial Services Ltd. will continue to manage its investment in Tower Semiconductor Ltd. according to its investment strategies.
• Tower Semiconductor Ltd. will continue its operations as a semiconductor manufacturer.

Key Dates

Keywords

Tower Semiconductor, Harel Insurance, Schedule 13G, Beneficial Ownership, Ordinary Shares, Investment, Financial Services, SEC Filing, Semiconductor