[SCHEDULE 13G/A] Magic Software Enterprises Ltd SEC Filing

Rhea-AI Filing Summary

Harel Insurance Investments & Financial Services Ltd. filed Schedule 13G/A (Amendment No. 7) disclosing a 13.2 % beneficial stake in Magic Software Enterprises Ltd. (CUSIP 559166103) as of 30 June 2025. The filing covers 6,492,758 ordinary shares (par value NIS 0.1) out of 49,099,305 shares outstanding (per the issuer’s 6-K dated 5 May 2025).

All voting and dispositive authority is shared; Harel reports 0 sole voting/dispositive power. Of the total shares, 6,207,567 are held on behalf of clients through provident, pension and mutual funds, ETFs and insurance policies managed by Harel subsidiaries that act independently, while 285,191 shares are held for Harel’s own account. Harel expressly disclaims beneficial ownership of client-held shares beyond the 285,191 directly owned.

The certification states the securities were not acquired to influence control of the issuer. The document is signed by Vice President Alon Kaufman on 5 Aug 2025.

Insights

Securities Analyst

TL;DR: Institutional filer Harel now reports 13.2 % stake in MGIC; no control intent, largely client assets, impact neutral.

Harel’s aggregated holding confirms meaningful institutional exposure to Magic Software, but the majority is pass-through client money, limiting any strategic influence. The amendment offers no evidence of share accumulation or reduction relative to prior filings, so directional signal is absent. Control statement and absence of sole voting power suggest limited governance impact. Overall, the disclosure is informational rather than catalytic, though it underscores liquidity support and external validation from a large Israeli insurer.

Corporate Governance Expert

TL;DR: 13G filing shows passive 13 % stake with shared authority; governance implications minimal.

Because Harel categorizes itself as a passive investor under Rule 13d-1(c) and certifies no intent to influence control, board or strategic decisions should remain unaffected. Shared voting rights dispersed among independently managed funds further dilute coordinated action. Unless Harel converts to an activist 13D posture, investors should view this as ordinary institutional ownership rather than a governance catalyst.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 7)

Magic Software Enterprises Ltd

(Name of Issuer)

Ordinary Shares, par value NIS 0.1 per share

(Title of Class of Securities)

559166103

(CUSIP Number)

06/30/2025

(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. 559166103

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 6,492,758.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,492,758.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,492,758.00

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)

13.2 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: With regard to Rows (6), (8) and (9), please see Item 4. Row (11) is based on 49,099,305 Ordinary Shares issued and outstanding as of May 1, 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 May 5, 2025).

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Magic Software Enterprises Ltd
(b)	Address of issuer's principal executive offices: 5 Haplada Street, Or Yehuda, Israel, 6021805
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: Ordinary Shares, par value NIS 0.1 per share
(e)	CUSIP No.: 559166103
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 6,492,758 Ordinary Shares reported in this Statement as beneficially owned by the Reporting Person, (i) 6,207,567 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 and (ii) 285,191 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 285,191 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:
	(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:
	(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.
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:	08/05/2025