Gilat Satellite Networks Ltd. received an updated ownership report showing that entities associated with Yelin Lapidot collectively report beneficial ownership of 5,175,188 Ordinary Shares, or 7.08% of the class, as of December 31, 2025, based on 73,143,907 Ordinary Shares outstanding.
The stake is held through mutual funds and provident funds managed by wholly owned subsidiaries of Yelin Lapidot Holdings Management Ltd., which are described as operating under independent management and making their own voting and investment decisions. Any economic interest is for the benefit of the fund members rather than the reporting persons personally.
The filing states that Messrs. Dov Yelin and Yair Lapidot, who jointly manage Yelin Lapidot Holdings, both sign the report but expressly disclaim beneficial ownership of the securities. The report also certifies that the securities were not acquired and are not held for the purpose of changing or influencing control of Gilat Satellite Networks Ltd.
Positive
None.
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Insights
Institutional filer reports a 7.08% Gilat stake held via managed funds.
The report shows entities linked to Yelin Lapidot Holdings Management Ltd. reporting beneficial ownership of 5,175,188 Ordinary Shares of Gilat Satellite Networks Ltd., equal to 7.08% of the class, based on 73,143,907 shares outstanding as of December 31, 2025.
These shares are attributed to mutual funds and provident funds managed by wholly owned subsidiaries, which are described as having independent management and decision-making. The filing emphasizes that any economic interest belongs to fund members, and the reporting persons expressly disclaim beneficial ownership.
The certification states the position is not held to change or influence control of Gilat. From an ownership-structure perspective, this identifies a sizable institutional holder whose voting behavior will be determined at the fund level, with future details to be inferred from subsequent ownership updates and company disclosures.
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)
12/31/2025
(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
Yelin Lapidot Holdings Management 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
5,175,188.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,175,188.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,175,188.00
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)
7.08 %
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 73,143,907Ordinary Shares outstanding as of December 31, 2025 (as reported on Bloomberg LP).
SCHEDULE 13G
CUSIP No.
M51474118
1
Names of Reporting Persons
Dov Yelin
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
5,175,188.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,175,188.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,175,188.00
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)
7.08 %
12
Type of Reporting Person (See Instructions)
IN
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 73,143,907Ordinary Shares outstanding as of December 31, 2025 (as reported on Bloomberg LP).
SCHEDULE 13G
CUSIP No.
M51474118
1
Names of Reporting Persons
Yair Lapidot
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
5,175,188.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,175,188.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,175,188.00
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)
7.08 %
12
Type of Reporting Person (See Instructions)
IN
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 December 31, 2025 (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, Daniv Park, Kiryat Arye
Address or principal business office or, if none, residence:
Yelin Lapidot Holdings Management Ltd. - 50 Dizengoff St., Dizengoff Center, Gate 3, Top Tower, 13th floor, Tel Aviv 64332, Israel
Dov Yelin - 50 Dizengoff St., Dizengoff Center, Gate 3, Top Tower, 13th floor, Tel Aviv 64332, Israel
Yair Lapidot - 50 Dizengoff St., Dizengoff Center, Gate 3, Top Tower, 13th floor, Tel Aviv 64332, Israel
(c)
Citizenship:
Yelin Lapidot Holdings Management Ltd. - Israel
Dov Yelin - Israel
Yair Lapidot - Israel
(d)
Title of class of securities:
Ordinary Shares, NIS 0.20 nominal value
(e)
CUSIP No.:
M51474118
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.
On December 31, 2025, the securities reported herein were beneficially owned as follows:
1,881,188 Ordinary Shares (representing 2.57% of the total Ordinary Shares outstanding) beneficially owned by mutual funds managed by Yelin Lapidot Mutual Funds Management Ltd.
3,294,000 Ordinary Shares (representing 4.5% of the total Ordinary Shares outstanding) beneficially owned by provident funds managed by Yelin Lapidot Provident Funds Management Ltd.
The securities reported herein are beneficially owned by provident funds managed by Yelin Lapidot Provident Funds Management Ltd. and/or mutual funds managed by Yelin Lapidot Mutual Funds Management Ltd. (the "Subsidiaries"), each a wholly-owned subsidiary of Yelin Lapidot Holdings Management Ltd. ("Yelin Lapidot Holdings"). Mr. Yelin owns 24.38% of the share capital and 25.00% of the voting rights of Yelin Lapidot Holdings, Mr. Lapidot owns 24.62% of the share capital and 25.00% of the voting rights of Yelin Lapidot Holdings. Messrs Yelin and Lapidot are responsible for the day-to-day management of Yelin Lapidot Holdings. In accordance with the Shareholders' Agreement, dated December 5, 2018, until the End of the "Suspension Period" Messrs Yelin and Lapidot are entitled to jointly appoint the majority of the members of Yelin Lapidot Holdings board. The Subsidiaries operate under independent management and make their own independent voting and investment decisions. Any economic interest or beneficial ownership in any of the securities covered by this report is held for the benefit of the members of the provident funds or mutual funds, as the case may be. This Statement shall not be construed as an admission by Messrs. Yelin and Lapidot, Yelin Lapidot Holdings or the Subsidiaries that he or it is the beneficial owner of any of the securities covered by this Statement, and each of Messrs. Yelin and Lapidot, Yelin Lapidot Holdings, and the Subsidiaries disclaims beneficial ownership of any such securities.
(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.
Yelin Lapidot Holdings Management Ltd.
Signature:
/s/ Dov Yelin
Name/Title:
Joint Chief Executive Officer
Date:
01/29/2026
Dov Yelin
Signature:
/s/ Dov Yelin
Name/Title:
Dov Yelin
Date:
01/29/2026
Yair Lapidot
Signature:
/s/ Yair Lapidot
Name/Title:
Yair Lapidot
Date:
01/29/2026
Exhibit Information
Exhibit 1 - Joint Filing Agreement filed by and among the Reporting Persons, dated as of July 17, 2025 (incorporated herein by reference to Exhibit 1 to the Schedule 13G filed on July 17, 2025).
What percentage of Gilat Satellite Networks (GILT) shares is reported by Yelin Lapidot?
Yelin Lapidot–related entities report beneficial ownership of 7.08% of Gilat’s Ordinary Shares. This corresponds to 5,175,188 Ordinary Shares, calculated against 73,143,907 Ordinary Shares outstanding as of December 31, 2025, as referenced in the ownership disclosure.
How many Gilat (GILT) shares are beneficially owned through Yelin Lapidot managed funds?
The filing reports beneficial ownership of 5,175,188 Gilat Ordinary Shares. These include 1,881,188 shares held by mutual funds and 3,294,000 shares held by provident funds managed by wholly owned subsidiaries of Yelin Lapidot Holdings Management Ltd.
Who are the reporting persons in the Gilat (GILT) Schedule 13G/A filing?
The reporting persons are Yelin Lapidot Holdings Management Ltd., Dov Yelin, and Yair Lapidot. The filing lists their common business address in Tel Aviv, Israel, and identifies each as an Israeli entity or citizen, with management responsibility at the holding-company level.
Do Yelin Lapidot and its principals claim personal beneficial ownership of Gilat (GILT) shares?
The report expressly disclaims beneficial ownership by the holding company and its principals. It states that any economic interest in the securities is held for the benefit of members of the mutual and provident funds, and the reporting persons should not be construed as beneficial owners.
How is the 7.08% ownership in Gilat (GILT) calculated in the filing?
The 7.08% figure is based on 73,143,907 Ordinary Shares outstanding as of December 31, 2025. That outstanding share count, as reported on Bloomberg LP, is used as the denominator against the 5,175,188 shares reported as beneficially owned.
Is the Yelin Lapidot stake in Gilat (GILT) intended to influence control of the company?
The certification states the securities were not acquired to change or influence control. The signatories affirm that the position is not held in connection with any transaction aimed at altering control of Gilat Satellite Networks Ltd., aside from activities tied to nomination rules referenced.
