Migdal Insurance & Financial Holdings Ltd. has filed an amended Schedule 13G reporting beneficial ownership of 7,800,503 Ordinary Shares of Gilat Satellite Networks Ltd., representing 10.66% of the class, based on 73,143,907 shares outstanding as of January 19, 2026.
These securities are held through various Migdal subsidiaries that manage funds for insurance policyholders, pension and provident members, mutual fund unitholders, portfolio clients and proprietary accounts, each operating with independent management and investment decisions. As of February 5, 2026, this includes 4,960,282 shares (6.78%) held by Migdal Sal Domestic Equities and 2,840,221 shares (3.88%) held by Migdal Mutual Funds Ltd. Migdal and its subsidiaries state that the holdings are not intended to change or influence control of Gilat and disclaim beneficial ownership beyond their actual economic interest.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Gilat Satellite Networks Ltd
(Name of Issuer)
Ordinary Shares, NIS 0.20 nominal value
(Title of Class of Securities)
M51474118
(CUSIP Number)
02/05/2026
(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)
SCHEDULE 13G
CUSIP No.
M51474118
1
Names of Reporting Persons
Migdal Insurance & Financial 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
7,800,503.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
7,800,503.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,800,503.00
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)
10.66 %
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 73,143,907 Ordinary Shares outstanding as of January 19, 2026 (as reported on Bloomberg LP).
SCHEDULE 13G
CUSIP No.
M51474118
1
Names of Reporting Persons
Migdal Sal Domestic Equities
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
4,960,282.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
4,960,282.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,960,282.00
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)
6.78 %
12
Type of Reporting Person (See Instructions)
PN
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 73,143,907 Ordinary Shares outstanding as of January 19, 2026 (as reported on Bloomberg LP).
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Gilat Satellite Networks Ltd
(b)
Address of issuer's principal executive offices:
Gilat House, 21 Yegia Kapayim Street Dan, Petah Tikvah, Israel, 4913020
Item 2.
(a)
Name of person filing:
Migdal Insurance & Financial Holdings Ltd.
Migdal Sal Domestic Equities.
The securities reported herein are beneficially owned by various direct or indirect, majority or wholly-owned subsidiaries of Migdal Insurance & Financial Holdings Ltd. (the "Subsidiaries"), such as Migdal Insurance Company Ltd., Migdal Sal Domestic Equities, Migdal Makefet Pension & Provident Funds Ltd., and Migdal Mutual Funds Ltd.. The Subsidiaries manage 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.
(b)
Address or principal business office or, if none, residence:
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.
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.
As of February 5, 2026, the securities reported herein were held as follows:
- 4,960,282 ordinary shares (representing 6.78% of the total ordinary shares outstanding) beneficially owned by Migdal Sal Domestic Equities;
- 2,840,221ordinary shares (representing 3.88% of the total ordinary shares outstanding) beneficially owned by Migdal Mutual Funds Ltd..
(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.
Migdal Insurance & Financial Holdings Ltd
Signature:
/s/ Menashe Debby
Name/Title:
Menashe Debby / Investment Accountant
Date:
02/16/2026
Signature:
/s/ Itay Yanay
Name/Title:
Itay Yanay / CFO
Date:
02/16/2026
Migdal Sal Domestic Equities
Signature:
/s/ Menashe Debby
Name/Title:
Menashe Debby / Investment Accountant
Date:
02/16/2026
Signature:
/s/ Itay Yanay
Name/Title:
Itay Yanay / CFO
Date:
02/16/2026
Exhibit Information
Exhibit 1 - Joint Filing Agreement by and among the Reporting Persons, dated as of February 16, 2026
What ownership stake in GILT does Migdal report on this Schedule 13G/A?
Migdal reports beneficial ownership of 7,800,503 Gilat ordinary shares, equal to 10.66% of the class. This percentage is calculated against 73,143,907 shares outstanding as of January 19, 2026, as referenced in the filing.
How many GILT shares are held by Migdal Sal Domestic Equities?
Migdal Sal Domestic Equities beneficially owns 4,960,282 Gilat ordinary shares, representing 6.78% of the total ordinary shares outstanding. These shares are managed under its own independent investment and voting decisions, as described in the ownership section.
How many GILT shares are held by Migdal Mutual Funds Ltd.?
Migdal Mutual Funds Ltd. beneficially owns 2,840,221 Gilat ordinary shares, representing 3.88% of the total ordinary shares outstanding. The economic interests are held for mutual fund unitholders and other clients, rather than solely for Migdal’s own account.
Does Migdal intend to influence control of Gilat Satellite Networks (GILT)?
Migdal certifies that the securities were not acquired and are not held for changing or influencing Gilat’s control. The filing states they are not part of any transaction with that purpose, other than activities tied to a nomination under Rule 240.14a-11.
Who are the reporting persons in this GILT Schedule 13G/A filing?
The reporting persons are Migdal Insurance & Financial Holdings Ltd. and Migdal Sal Domestic Equities. The filing explains that Migdal’s various majority- or wholly-owned subsidiaries hold the shares and manage funds for insurance, pension, provident, mutual fund, and portfolio clients.
How is the 10.66% GILT ownership percentage calculated for Migdal?
The 10.66% figure is based on 7,800,503 Gilat ordinary shares beneficially owned, divided by 73,143,907 shares outstanding. The outstanding share count is referenced as of January 19, 2026, as reported on Bloomberg LP in the disclosure.
