Menora Mivtachim Holdings Ltd. and its subsidiary Menora Mivtachim Pensions and Gemel Ltd. report beneficial ownership of American Depositary Shares of Formula Systems (1985) Ltd.
As of June 30, 2026, Menora Mivtachim Holdings Ltd. is deemed to beneficially own 1,359,061 ordinary shares, representing 8.86% of Formula Systems’ ordinary shares based on 15,334,667 ordinary shares outstanding as of July 19, 2026. Menora Mivtachim Pensions and Gemel Ltd. separately beneficially owns 1,203,241 ordinary shares, or 7.85% of the class. Voting and dispositive power over these shares is reported on a shared basis among group entities, with economic interests largely held for insurance policy holders, portfolio account owners, and members of provident and pension funds. Menora Mivtachim Holdings Ltd. and its subsidiaries expressly disclaim beneficial ownership beyond their pecuniary interest.
Positive
None.
Negative
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Key Figures
Menora Holdings beneficial ownership:1,359,061 ordinary sharesMenora Holdings percent of class:8.86%Pensions & Gemel holdings:1,203,241 ordinary shares+5 more
8 metrics
Menora Holdings beneficial ownership1,359,061 ordinary sharesShares beneficially owned by Menora Mivtachim Holdings Ltd., representing 8.86% of the class
Menora Holdings percent of class8.86%Portion of Formula Systems ordinary shares beneficially owned by Menora Mivtachim Holdings Ltd.
Pensions & Gemel holdings1,203,241 ordinary sharesShares beneficially owned by Menora Mivtachim Pensions and Gemel Ltd., 7.85% of class
Pensions & Gemel percent7.85%Percent of Formula Systems ordinary shares held by Menora Mivtachim Pensions and Gemel Ltd.
Shares outstanding baseline15,334,667 ordinary sharesFormula Systems ordinary shares outstanding as of July 19, 2026, per Bloomberg LP
Insurance company holdings145,511 ordinary sharesHeld by Menora Mivtachim Insurance Ltd. as part of group holdings
Shomera holdings1,829 ordinary sharesHeld by Shomera Insurance Company Ltd. as part of group holdings
"the securities reported herein were held as follows: 1,203,241 ordinary shares ... 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 voting powerfinancial
"Shared Voting Power 1,359,061.00"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
shared dispositive powerfinancial
"Shared Dispositive Power 1,359,061.00"
pecuniary interestfinancial
"disclaims beneficial ownership of any such securities except to the extent of its pecuniary interest therein"
percent of classfinancial
"Percent of class: See row 11 of cover page of each reporting person"
Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.
What ownership stake in Formula Systems (FORTY) does Menora Mivtachim Holdings report?
Menora Mivtachim Holdings Ltd. is deemed to beneficially own 1,359,061 ordinary shares of Formula Systems, representing 8.86% of the company’s 15,334,667 ordinary shares outstanding as of July 19, 2026.
How many Formula Systems (FORTY) shares does Menora Mivtachim Pensions and Gemel own?
Menora Mivtachim Pensions and Gemel Ltd. beneficially owns 1,203,241 ordinary shares of Formula Systems, representing 7.85% of the total ordinary shares outstanding as of June 30, 2026.
How is voting power over Formula Systems (FORTY) shares allocated within Menora Mivtachim?
The Menora Mivtachim entities report 0 shares with sole voting power and 1,359,061 shares with shared voting power, reflecting group-level control arrangements over the Formula Systems position.
Which Menora Mivtachim subsidiaries hold Formula Systems (FORTY) shares and in what amounts?
Holdings include 1,203,241 shares by Menora Mivtachim Pensions and Gemel Ltd., 145,511 by Menora Mivtachim Insurance Ltd., 1,829 by Shomera Insurance Company Ltd., and 8,480 by Menora Mivtachim Vehistadrut Hamehandesim Nihul Kupot Gemel Ltd.
Who ultimately benefits economically from Menora Mivtachim’s Formula Systems (FORTY) holdings?
The economic interest in the Formula Systems shares is largely held for insurance policy holders, portfolio account owners, and members of provident and pension funds, rather than solely for Menora Mivtachim’s own account.
Does Menora Mivtachim fully acknowledge beneficial ownership of all Formula Systems (FORTY) shares held by its group?
Menora Mivtachim Holdings Ltd. and its subsidiaries disclaim beneficial ownership of the Formula Systems securities except to the extent of their pecuniary interest in those shares.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 9)
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)
06/30/2026
(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
MENORA MIVTACHIM HOLDINGS 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
1,359,061.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,359,061.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,359,061.00
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)
8.86 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: With regard to rows (6), (8), (9) and (11), the beneficial ownership of the securities reported herein is described in Item 4(a).
Row (11) is Based on 15,334,667 Ordinary Shares outstanding as of July 19, 2026 (as reported on Bloomberg LP).
SCHEDULE 13G
CUSIP Number(s):
346414105
1
Names of Reporting Persons
Menora Mivtachim Pensions & Gemel 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
1,203,241.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,203,241.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,203,241.00
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)
7.85 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: With regard to rows (6), (8), (9) and (11), the beneficial ownership of the securities reported herein is described in Item 4(a).
Row (11) is Based on 15,334,667 Ordinary Shares outstanding as of July 19, 2026 (as reported on Bloomberg LP).
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
FORMULA SYSTEMS (1985) LTD
(b)
Address of issuer's principal executive offices:
Terminal Center, 1 Yahadut Canada Street, Or Yehuda, 6037501
Item 2.
(a)
Name of person filing:
Menora Mivtachim Holdings Ltd.
Menora Mivtachim Pensions and Gemel Ltd.
(b)
Address or principal business office or, if none, residence:
Menora Mivtachim Holdings Ltd. - Menora House, 23 Jabotinsky St., Ramat Gan 5251102, Israel
Menora Mivtachim Pensions and Gemel Ltd. - 23 Jabotinsky St., Ramat Gan 5251102, Israel
(c)
Citizenship:
Menora Mivtachim Holdings Ltd. - Israel
Menora Mivtachim Pensions and Gemel Ltd. - 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:
See row 9 of cover page of each reporting person.
As of June 30, 2026, the securities reported herein were held as follows:
1,203,241 ordinary shares (representing 7.85% of the total ordinary shares outstanding) beneficially owned by Menora Mivtachim Pensions and Gemel Ltd.;
145,511 ordinary shares (representing 0.95%% of the total ordinary shares outstanding) beneficially owned by Menora Mivtachim Insurance Ltd.;
1,829 ordinary shares (representing 0.01% of the total ordinary shares outstanding) beneficially owned by Shomera Insurance Company Ltd;
8,480 ordinary shares (representing 0.06% of the total ordinary shares outstanding) beneficially owned by Menora Mivtachim Vehistadrut Hamehandesim Nihul Kupot Gemel Ltd..
The securities reported herein are beneficially owned by Menora Mivtachim Holdings Ltd. ("Menora Holdings") and by entities that are direct or indirect, wholly-owned or majority-owned, subsidiaries of Menora Holdings (the "Subsidiaries"), such as Menora Mivtachim Insurance Ltd., Shomera Insurance Company Ltd., Menora Mivtachim Pensions and Gemel Ltd., Menora Mivtachim Vehistadrut Hamehandesim Nihul Kupot Gemel Ltd., and Menora Mivtachim Investment Portfolio Management Ltd. The economic interest or beneficial ownership in a portion of the securities covered by this report (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. This statement on Schedule 13G shall not be construed as an admission by Menora Holdings or by any of the Subsidiaries that it is the beneficial owner of any of such securities covered by this statement on Schedule 13G, and each of Menora Holdings and the Subsidiaries disclaims beneficial ownership of any such securities except to the extent of its pecuniary interest therein.
(b)
Percent of class:
See row 11 of cover page of each reporting person
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See row 5 of cover page of each reporting person
(ii) Shared power to vote or to direct the vote:
See row 6 of cover page of each reporting person and note in Item 4(a) above
(iii) Sole power to dispose or to direct the disposition of:
See row 7 of cover page of each reporting person
(iv) Shared power to dispose or to direct the disposition of:
See row 8 of cover page of each reporting person and note in Item 4(a) 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.
MENORA MIVTACHIM HOLDINGS LTD.
Signature:
/s/ Lior Yochpaz
Name/Title:
Authorized Signatory
Date:
08/04/2026
Signature:
/s/ Omri Gal
Name/Title:
VP Finance and Accounting
Date:
08/04/2026
Menora Mivtachim Pensions & Gemel Ltd.
Signature:
/s/ Omri Gal
Name/Title:
VP Finance and Accounting
Date:
08/04/2026
Signature:
/s/ Lior Yochpaz
Name/Title:
Authorized Signatory
Date:
08/04/2026
Exhibit Information
Exhibit 1 - Joint Filing Agreement by and among the Reporting Persons, dated as of February 14, 2018, (incorporated herein by reference to Exhibit 1 to the Schedule 13G filed on February 14, 2018).
