In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Altshuler Shaham Ltd reported 366 stock positions worth $6.5 billion . Its top holding was Amazon.com (AMZN) at 8.2% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 7.4% ) and Alphabet Class A (GOOGL, 6.5% ). Compared with Q3 2025, it opened 98 new positions, sold out of 69, added to 136 and reduced 100. The biggest buy was Adobe (ADBE, shares +1418002% ) and the biggest sale Meta Platforms Class A (META, shares −100% ).
Location Tel Aviv, L3
CIK 0001324290
Portfolio Value $6.5B (Q4 2025) Holdings 366 stocks · $6.5B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2025 AMZN Amazon.com Inc. 2,335,004 $539.0M Add +0.1% TSM Taiwan Semiconductor-SP ADR 1,585,930 $481.9M Reduce -25.6% GOOGL Alphabet Inc. Class A 1,360,513 $425.8M Reduce -21.4% MSFT Microsoft Corp. 708,627 $342.7M Add +30.5% ESLT Elbit Systems Ltd. 511,720 $294.5M Reduce -16.9% TEVA Teva Pharmaceutical-SP ADR 8,494,121 $268.7M Add +2.4% CSCO Cisco Systems Inc. 3,420,568 $263.5M Reduce -0.1% ORCL Oracle Corp. 1,317,283 $256.8M Add +23.8% ADBE Adobe Inc. 581,422 $203.5M Add +1418002.4% UBER Uber Technologies Inc. 2,489,903 $203.4M Add +1.3% EXE Expand Energy Corp. 1,716,853 $189.5M Add +7.9% EBAY eBay Inc. 2,092,795 $182.3M Add +4452655.3% ZM Zoom Communications Inc. 2,043,218 $176.3M Add +1.2% IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 549,116 $162.7M Add +378600.7% BABA Alibaba Group Holding-SP ADR 1,094,350 $160.4M New ICE Intercontinental Exchange Inc. 988,500 $160.1M No change CRH CRH PLC 1,268,000 $158.2M Add +8.4% ICL Icl Group Ltd. 26,349,667 $151.2M Add +96.6% DDOG Datadog Inc. Class A 1,021,762 $138.9M Add +38.1% NTR Nutrien Ltd. 1,853,201 $114.4M Reduce -13.5% ADI Analog Devices Inc. 405,880 $110.1M Reduce 0.0% ENTG Entegris Inc. 1,306,078 $110.0M Reduce -31.9% CHKP Check Point Software Tech 562,796 $104.4M Add +6253188.9% TRMB Trimble Inc. 1,260,000 $98.7M No change LYFT LYFT Inc. Class A 5,054,610 $97.9M Add +0.6% HON Honeywell International Inc. 460,000 $89.7M No change MELI MercadoLibre Inc. 43,526 $87.7M Reduce -17.1% FCX Freeport-McMoran Inc. 1,566,513 $79.6M Add +1090.5% NEE Nextera Energy Inc. 968,260 $77.7M Add +8178.6% SHOP Shopify Inc. Class A 377,648 $60.8M New AAPL Apple Inc. 223,092 $60.6M Add +807.0% HOOD Robinhood Markets Inc. Class A 495,500 $56.0M New CTRA Coterra Energy Inc. 2,028,649 $53.4M New LGIH Lgi Homes Inc. 1,031,798 $44.3M Add +0.1% AVGO Broadcom Inc. 126,200 $43.7M Add +274247.8% DUOL Duolingo 243,330 $42.7M Add +41353.2% NFLX Netflix Inc. 427,676 $40.1M Add +328881.5% QCOM Qualcomm Inc. 228,430 $39.1M Add +16696.3% UPB Upstream Bio Inc. 1,341,540 $36.4M Reduce -5.3% ARCC Ares Capital Corp. 1,650,000 $33.4M New ENLT Enlight Renewable Energy Ltd. 585,068 $26.6M Add +41.9% TW Tradeweb Markets Inc. Class A 205,000 $22.0M No change ODD Oddity Tech Ltd. Class A 500,714 $20.1M Add +364.7% BXSL Blackstone Secured Lending F 750,000 $19.7M New ARM Arm Holdings PLC-ADR 153,103 $16.7M Add +166316.3% PFLT Pennantpark Floating Rate Ca 1,320,156 $12.2M Add +44.1% ETOR Etoro Group Ltd. Class A 345,640 $12.1M Reduce -9.8% KEN Kenon Holdings Ltd. 180,364 $11.9M Reduce -15.8% MSDL Morgan Stanley Direct Lendin 650,437 $10.7M New MGIC Magic Software Enterprises 252,899 $6.6M Add +187232.6% TSLX Sixth Street Specialty Lendi 301,460 $6.5M New DELEK LOGISTICS PARTNERS LP 24,107 $6.4M Add +2.1% GEV GE Vernova Inc. 9,147 $6.0M Reduce -54.2% GILT Gilat Satellite Networks Ltd. 475,171 $5.7M Add +4494.6% TLN Talen Energy Corp. 14,863 $5.6M Reduce -14.8% SN Sharkninja Inc. 41,631 $4.7M Add +466.2% NRG NRG Energy Inc. 28,184 $4.5M Reduce -44.2% CEG Constellation Energy 12,682 $4.5M Reduce -42.6% PWR Quanta Services Inc. 9,879 $4.2M Add +8.5% VST Vistra Corp. 24,049 $3.9M Reduce -26.4% NVMI Nova Ltd. 11,377 $3.8M Reduce -97.1% INMD Inmode Ltd. 227,000 $3.3M No change TSEM Tower Semiconductor Ltd. 26,645 $3.1M Add +416.1% ETN Eaton Corp. PLC 8,500 $2.7M Add +8.3% FSLR First Solar Inc. 9,460 $2.5M Reduce -16.3% AEP American Electric Power 20,547 $2.4M Add +65.5% CCJ Cameco Corp. 24,009 $2.2M Add +7.5% LNG Cheniere Energy Inc. 10,882 $2.1M Reduce -31.4% CAT Caterpillar Inc. 3,172 $1.8M Add +407.5% NYAX Nayax Ltd. 34,489 $1.7M Add +140.0% D Dominion Energy Inc. 26,389 $1.5M Add +81.6% SO The Southern Co. 17,267 $1.5M Add +8.5% KMI Kinder Morgan Inc. 54,721 $1.5M Reduce -16.4% NXDR Nextdoor Holdings Inc. 709,841 $1.5M New WMT Walmart Inc. 12,414 $1.4M Reduce -48.6% NICE Nice Ltd. - Spon ADR 11,035 $1.2M Add +82.3% SNOW Snowflake Inc. 5,444 $1.2M Reduce -67.9% FORTY Formula Systems 1985-SP ADR 7,015 $1.2M Add +30.8% UPST Upstart Holdings Inc. 27,000 $1.2M Add +179.8% NXT Nextpower Inc. 13,424 $1.2M Add +6.2% EME Emcor Group Inc. 1,872 $1.1M Add +8.4% MTZ Mastec Inc. 5,240 $1.1M Add +4.4% SHEL Shell PLC-ADR 14,600 $1.1M Reduce -51.3% IBKR Interactive Brokers Gro Class A 16,000 $1.0M No change HUBB Hubbell Inc. 2,279 $1.0M Add +8.2% HLN Haleon PLC-ADR 100,000 $1.0M Reduce -98.7% QBTS D-Wave Quantum Inc. 38,500 $1.0M New SNPS Synopsys Inc. 2,115 $993K Add +42200.0% FIX Comfort Systems USA Inc. 1,042 $972K Add +8.2% IONQ Ionq Inc. 21,000 $942K New CAMT Camtek Ltd. 8,472 $910K Add +33.4% FLNC Fluence Energy Inc. 45,594 $902K Reduce -54.6% NVDA Nvidia Corp. 4,726 $881K Reduce -85.1% TLRY Tilray Brands Inc. 94,955 $857K Reduce -74.5% CP Canadian Pacific Kansas City 11,622 $856K Reduce -41.0% TBLA Taboola.com Ltd. 179,859 $854K Reduce -1.0% GLW Corning Inc. 9,652 $845K New OPEN Opendoor Technologies Inc. 153,155 $840K Add +178.5% ABNB Airbnb Inc. Class A 6,186 $840K Reduce -45.3% ETR Entergy Corp. 9,055 $837K Add +8.5%
Show all 366 holdings
Options reported separately and not counted above: AMZN calls ($6.1M), NVDA calls ($4.8M), MSFT calls ($4.4M), BXSL calls ($3.7M), AVGO calls ($2.9M), ARM HOLDINGS PLC calls ($2.0M), STRATEGY INC puts ($1.3M), NEBIUS GROUP N.V. calls ($681K), NEBIUS GROUP N.V. calls ($118K), IREN LIMITED calls ($85K), IREN LIMITED puts ($69K), CIRCLE INTERNET GROUP INC puts ($49K), and 14 more.
Other holdings (13): bonds, preferreds, convertibles and warrants · $11.0M (not counted above) Security Class Shares / Principal Value Change IREN Iren Ltd. ORDINARY SHARES · principal 1,700,000 $4.6M No change CRWV Coreweave Inc. Class A COM CL A · principal 2,000,000 $1.9M New CIPHER DIGITAL INC (CIFR 1.75 05/15/30) NOTE 1.750% 5/1 · principal 875,000 $1.0M No change NIOBW Niocorp Developments Ltd. -28 *W EXP 03/17/202 479,999 $893K No change TERAWULF INC CALL · principal 825,000 $875K Add +65.0% AISPW Airship AI Holdings Inc.-CW28 *W EXP 12/21/202 664,999 $532K No change PLUG Plug Power Inc. COM NEW · principal 400,000 $414K No change PGY Pagaya Technologies Ltd. Class A CL A NEW · principal 200,000 $413K No change FBYDW Falcon's Beyond Global-27 *W EXP 10/06/202 84,375 $170K No change CLSKW Cleanspark Inc.-29 *W EXP 12/29/202 · principal 100,000 $77K New DJTWW Trump Media & Technology Gro *W EXP 03/25/202 1,000 $7K No change KIDZW Classover Holdings Inc. - 30 *W EXP 04/03/203 497,457 $6K Reduce -1.5% BNAIW Brand Engagement Netwo -CW27 *W EXP 03/14/202 66,666 $3K No change
Total filed on the 13F, all lines: $6.6B.
Portfolio Sells Q3 2025 → Q4 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2025 % Of Portfolio Change To Portfolio ▲ META Meta Platforms Inc. Class A Reduce -99.5% 0.01% −2.92 TSM Taiwan Semiconductor-SP ADR Reduce -25.6% 7.37% −2.49 WFC Wells Fargo & Co. Sold out 0.00% −2.39 APP AppLovin Corp. Class A Reduce -99.4% 0.01% −2.14 MDB Mongodb Inc. Reduce -99.6% 0.01% −2.07 NVMI Nova Ltd. Reduce -97.1% 0.06% −2.02 PANW Palo Alto Networks Inc. Reduce -99.5% 0.01% −1.92 COO The Cooper Cos Inc. Sold out 0.00% −1.64 ENTG Entegris Inc. Reduce -31.9% 1.68% −1.26 HLN Haleon PLC-ADR Reduce -98.7% 0.02% −1.16 MELI MercadoLibre Inc. Reduce -17.1% 1.34% −0.69 ESLT Elbit Systems Ltd. Reduce -16.9% 4.50% −0.68 GOOGL Alphabet Inc. Class A Reduce -21.4% 6.51% −0.47 NTR Nutrien Ltd. Reduce -13.5% 1.75% −0.34 GEV GE Vernova Inc. Reduce -54.2% 0.09% −0.11 NVDA Nvidia Corp. Reduce -85.1% 0.01% −0.08 ETOR Etoro Group Ltd. Class A Reduce -9.8% 0.19% −0.08 NRG NRG Energy Inc. Reduce -44.2% 0.07% −0.07 CEG Constellation Energy Reduce -42.6% 0.07% −0.05 VST Vistra Corp. Reduce -26.4% 0.06% −0.05 SNOW Snowflake Inc. Reduce -67.9% 0.02% −0.05 DD Dupont DE Nemours Inc. Reduce -96.2% 0.00% −0.04 GS Goldman Sachs Group Inc. Reduce -88.8% 0.00% −0.04 TLN Talen Energy Corp. Reduce -14.8% 0.09% −0.04 CRWV Coreweave Inc. Class A Reduce -49.7% 0.01% −0.04 RDDT Reddit Inc. Class A Reduce -98.7% 0.00% −0.03 LNG Cheniere Energy Inc. Reduce -31.4% 0.03% −0.03 TSLA Tesla Inc. Reduce -72.3% 0.01% −0.03 NKE Nike Inc. Class B Reduce -69.9% 0.01% −0.03 PTON Peloton Interactive Inc. Class A Sold out 0.00% −0.03 BAC Bank of America Corp. Reduce -66.1% 0.01% −0.02 WMT Walmart Inc. Reduce -48.6% 0.02% −0.02 VRTX Vertex Pharmaceuticals Inc. Sold out 0.00% −0.02 AVB Avalonbay Communities Inc. Sold out 0.00% −0.02 SHEL Shell PLC-ADR Reduce -51.3% 0.02% −0.02 SPNS Sapiens International Corp. Reduce -98.1% 0.00% −0.02 MNDY Monday.com Ltd. Reduce -99.6% 0.00% −0.01 HLT Hilton Worldwide Holdings Inc. Sold out 0.00% −0.01 BKNG Booking Holdings Inc. Reduce -47.2% 0.01% −0.01 CP Canadian Pacific Kansas City Reduce -41.0% 0.01% −0.01 MAR Marriott International Class A Sold out 0.00% −0.01 ABNB Airbnb Inc. Class A Reduce -45.3% 0.01% −0.01 RCL Royal Caribbean Cruises Ltd. Sold out 0.00% −0.01 EQT Eqt Corp. Sold out 0.00% −0.01 KMI Kinder Morgan Inc. Reduce -16.4% 0.02% −0.01 H Hyatt Hotels Corp. Class A Sold out 0.00% −0.01 MNST Monster Beverage Corp. Sold out 0.00% −0.01 DAL Delta Air Lines Inc. Reduce -95.4% 0.00% −0.01 TDG Transdigm Group Inc. Sold out 0.00% −0.01 PERI Perion Network Ltd. Reduce -29.7% 0.01% −0.01
Portfolio Buys Q3 2025 → Q4 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2025 % Of Portfolio Change To Portfolio ▼ ADBE Adobe Inc. Add +1418002.4% 3.11% +3.11 EBAY eBay Inc. Add +4452655.3% 2.79% +2.79 IBM Intl Business Machines Corp. Add +378600.7% 2.49% +2.49 BABA Alibaba Group Holding-SP ADR New 2.45% +2.45 CHKP Check Point Software Tech Add +6253188.9% 1.60% +1.60 TEVA Teva Pharmaceutical-SP ADR Add +2.4% 4.11% +1.42 NEE Nextera Energy Inc. Add +8178.6% 1.19% +1.17 FCX Freeport-McMoran Inc. Add +1090.5% 1.22% +1.13 SHOP Shopify Inc. Class A New 0.93% +0.93 ICL Icl Group Ltd. Add +96.6% 2.31% +0.92 HOOD Robinhood Markets Inc. Class A New 0.86% +0.86 AAPL Apple Inc. Add +807.0% 0.93% +0.82 CTRA Coterra Energy Inc. New 0.82% +0.82 AVGO Broadcom Inc. Add +274247.8% 0.67% +0.67 DUOL Duolingo Add +41353.2% 0.65% +0.65 NFLX Netflix Inc. Add +328881.5% 0.61% +0.61 QCOM Qualcomm Inc. Add +16696.3% 0.60% +0.59 MSFT Microsoft Corp. Add +30.5% 5.24% +0.58 ARCC Ares Capital Corp. New 0.51% +0.51 DDOG Datadog Inc. Class A Add +38.1% 2.12% +0.38 BXSL Blackstone Secured Lending F New 0.30% +0.30 ARM Arm Holdings PLC-ADR Add +166316.3% 0.26% +0.26 ODD Oddity Tech Ltd. Class A Add +364.7% 0.31% +0.20 ENLT Enlight Renewable Energy Ltd. Add +41.9% 0.41% +0.20 MSDL Morgan Stanley Direct Lendin New 0.16% +0.16 MGIC Magic Software Enterprises Add +187232.6% 0.10% +0.10 TSLX Sixth Street Specialty Lendi New 0.10% +0.10 CRH CRH PLC Add +8.4% 2.42% +0.09 EXE Expand Energy Corp. Add +7.9% 2.90% +0.09 GILT Gilat Satellite Networks Ltd. Add +4494.6% 0.09% +0.08 SN Sharkninja Inc. Add +466.2% 0.07% +0.06 PFLT Pennantpark Floating Rate Ca Add +44.1% 0.19% +0.05 TSEM Tower Semiconductor Ltd. Add +416.1% 0.05% +0.04 CAT Caterpillar Inc. Add +407.5% 0.03% +0.02 NXDR Nextdoor Holdings Inc. New 0.02% +0.02 QBTS D-Wave Quantum Inc. New 0.02% +0.02 NYAX Nayax Ltd. Add +140.0% 0.03% +0.02 SNPS Synopsys Inc. Add +42200.0% 0.02% +0.02 IONQ Ionq Inc. New 0.01% +0.01 AEP American Electric Power Add +65.5% 0.04% +0.01 GLW Corning Inc. New 0.01% +0.01 GRBK Green Brick Partners Inc. New 0.01% +0.01 VYGR Voyager Therapeutics Inc. New 0.01% +0.01 DHI D.R. Horton Inc. New 0.01% +0.01 LEN Lennar Corp. Class A Add +3538.3% 0.01% +0.01 UPST Upstart Holdings Inc. Add +179.8% 0.02% +0.01 RGTI Rigetti Computing Inc. New 0.01% +0.01 ENPH Enphase Energy Inc. New 0.01% +0.01 KO The Coca-Cola Co. New 0.01% +0.01 D Dominion Energy Inc. Add +81.6% 0.02% +0.01
Options Activity Q3 2025 → Q4 2025 Security Type Change vs Q3 2025 Underlying Shares Value ▼ AMZN Amazon.com Inc. call New 4,823 $6.1M NVDA Nvidia Corp. call New 5,000 $4.8M MSFT Microsoft Corp. call New 2,650 $4.4M BXSL Blackstone Secured Lending F call New 53,000 $3.7M AVGO Broadcom Inc. call New 2,325 $2.9M ARM HOLDINGS PLC call New 4,950 $2.0M STRATEGY INC put Add +7.5% 374 $1.3M NEBIUS GROUP N.V. call Reduce -14.3% 60 $118K IREN LIMITED call New 102 $85K IREN LIMITED put New 80 $69K TSLA Tesla Inc. call Add +120.0% 11 $46K SPY SS SPDR S&P 500 ETF Trust-US put Add +56.3% 247 $38K OPEN Opendoor Technologies Inc. call Add +113.3% 160 $22K CIPHER DIGITAL INC call New 42 $20K STRATEGY INC call Add +27.3% 70 $18K SPDR GOLD TR call Add +330.0% 43 $17K TERAWULF INC call New 50 $15K CIPHER DIGITAL INC put Sold out 30 $14Kbefore exit TSLA Tesla Inc. put Sold out 20 $8Kbefore exit MOSAIC CO call New 21 $4K VANECK BITCOIN ETF put Sold out 15 $705before exit ISHARES BITCOIN TRUST ETF call New 11 $352 INVESCO QQQ TR put Sold out 229 $229before exit TOWER SEMICONDUCTOR LTD call New 18 $135 SPY SS SPDR S&P 500 ETF Trust-US call New 54 $27 BARCLAYS BANK PLC call New 45 $16
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025 Security Class Change vs Q3 2025 Shares / Principal Value ▼ NBIS Nebius Group NV SHS CLASS A · principal Sold out 4,184,000 $5.7Mbefore exit CRWV Coreweave Inc. Class A COM CL A · principal New 2,000,000 $1.9M TEM Tempus AI Inc. Class A CL A · principal Sold out 1,000,000 $1.3Mbefore exit TERAWULF INC CALL · principal Add +65.0% 825,000 $875K CLSKW Cleanspark Inc.-29 *W EXP 12/29/202 · principal New 100,000 $77K KIDZW Classover Holdings Inc. - 30 *W EXP 04/03/203 Reduce -1.5% 497,457 $6K
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 449 $8.0B TSM, TEVA, AAPL, GOOGL, NVDA Q1 2026 395 $5.5B TSM, ESLT, TEVA, ENLT, AMZN Q4 2025 366 $6.5B AMZN, TSM, GOOGL, MSFT, ESLT Q3 2025 337 $6.0B TSM, AMZN, GOOGL, ESLT, ORCL Q2 2025 296 $3.1B CAT, TSM, ESLT, PANW, AMZN Q1 2025 294 $4.1B MSFT, AMZN, ORCL, CAT, GOOGL Q4 2024 349 $2.9B MSFT, AMZN, GOOGL, ORCL, ESLT Q3 2024 283 $1.7B ICL, MU, QCOM, ESLT, ORCL Q2 2024 274 $2.9B MSFT, AMZN, NTR, ORCL, ICL Q1 2024 272 $2.5B MSFT, AAPL, NTR, AMZN, ICL