Harel files 13G/A: 919,456 ADSs (6.0%) in Formula Systems

Accepted by SEC EDGAR 05/05/2026 - 06:21 AM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Harel Insurance Investments & Financial Services Ltd. filed an Amendment No. 7 to a Schedule 13G/A reporting beneficial ownership in Formula Systems (1985) Ltd. The Reporting Person states beneficial ownership of 919,456 Ordinary Shares (American Depositary Shares), representing 6.0% of the class based on 15,332,667 Ordinary Shares issued and outstanding as of June 30, 2025. The filing discloses shared voting power of 913,042 and that 912,598 shares are held for public clients managed by subsidiaries.

Key Figures

Beneficial ownership: 919,456 shares Percent of class: 6.0% Shared voting power: 913,042 shares +3 more

6 metrics

Beneficial ownership 919,456 shares reported beneficially owned Ordinary Shares (ADS basis)

Percent of class 6.0% based on 15,332,667 Ordinary Shares outstanding as of <date>June 30, 2025</date>

Shared voting power 913,042 shares shared power to vote as reported on cover page

Sole holdings (Reporting Person) 444 shares shares beneficially held for Reporting Person's own account

Client-held shares 912,598 shares held for public clients via managed funds by subsidiaries

Outstanding shares used 15,332,667 shares issuer-reported outstanding as of <date>June 30, 2025</date>

Key Terms

Beneficially owned, Shared dispositive power, Form 6-K, American Depositary Shares

4 terms

Beneficially owned regulatory

"Of the 919,456 Ordinary Shares reported in this Statement as beneficially owned"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Shared dispositive power regulatory

"Shared Dispositive Power 919,456.00"

Form 6-K regulatory

"as reported by the Issuer in Exhibit 99.1 to its Report on Form 6-K"

A Form 6-K is a report that companies listed in certain countries file to provide important updates, such as financial results, corporate changes, or other significant information, to regulators and investors. It functions like an official company update or news release, helping investors stay informed about developments that could affect their investment decisions.

American Depositary Shares financial

"American Depositary Shares, each representing one Ordinary Share"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does Harel report in Formula Systems (FORTY)?

Harel reports beneficial ownership of 919,456 Ordinary Shares, represented by ADSs. This equals 6.0% of the class, using 15,332,667 Ordinary Shares outstanding as of June 30, 2025, as cited in the filing.

How is Harel's ownership apportioned in the 13G/A filing for FORTY?

The filing states 912,598 shares are held for public client vehicles managed by subsidiaries, 6,414 shares in third-party client accounts, and 444 shares held for Harel's own account.

What voting and dispositive powers does Harel report for FORTY shares?

Harel reports shared voting power of 913,042 shares and shared dispositive power of 919,456 shares. The filing lists 0 sole voting and 0 sole dispositive power.

On what basis is the 6.0% ownership percentage calculated?

The 6.0% figure is based on 15,332,667 Ordinary Shares issued and outstanding as of June 30, 2025, as reported by the issuer in an Exhibit to a Form 6-K cited in the filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 7)

FORMULA SYSTEMS (1985) LTD.

(Name of Issuer)

American Depositary Shares, each representing one Ordinary Share, NIS 1 par value

(Title of Class of Securities)

346414105

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 346414105

1

Names of Reporting Persons

Harel Insurance Investments & Financial Services Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ISRAEL

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 913,042.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 919,456.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

919,456.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.0 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: * With regard to the date of event that requires filing, see the explanatory note in Item 4. With regard to Rows (6), (8) and (9), please see Item 4. Row (11) is based on 15,332,667 Ordinary Shares issued and outstanding as of June 30, 2025 (as reported by the Issuer in Exhibit 99.1 to its Report on Form 6-K filed with the Securities and Exchange Commission on July 22, 2025).

SCHEDULE 13G

Item 1.
(a)	Name of issuer: FORMULA SYSTEMS (1985) LTD.
(b)	Address of issuer's principal executive offices: Yahadut Canada 1 Street, Or Yehuda 1, Israel, 603750
Item 2.
(a)	Name of person filing: Harel Insurance Investments & Financial Services Ltd.
(b)	Address or principal business office or, if none, residence: 3 Aba Hillel Street, Ramat Gan 52118, Israel
(c)	Citizenship: Israel
(d)	Title of class of securities: American Depositary Shares, each representing one Ordinary Share, NIS 1 par value
(e)	CUSIP No.: 346414105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Of the 919,456 Ordinary Shares reported in this Statement as beneficially owned by the Reporting Person, (i) 912,598 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) 6,414 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) 444 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 444 Ordinary Shares covered by this Statement.
(b)	Percent of class: See Row (11) of the cover page of the Reporting Person above.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: See Row (6) of the cover page of the Reporting Person above and note in Item 4 above.
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: See Row (8) of the cover page of the Reporting Person above and note in Item 4 above
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

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.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Harel Insurance Investments & Financial Services Ltd.

Signature:	/s/ Alon Kaufman
Name/Title:	Alon Kaufman/Vice President
Date:	05/04/2026