Migdal Insurance & Financial Holdings Ltd.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 28, 2026), Migdal Insurance & Financial Holdings Ltd. reported 346 stock positions worth $11.6 billion. Its top holding was Teva Pharmaceutical-SP ADR (TEVA) at 10.0% of the portfolio, followed by Invesco Nasdaq 100 ETF (QQQM, 6.7%) and SS Technology Select Sector (XLK, 6.3%). Compared with Q3 2025, it opened 68 new positions, sold out of 46, added to 85 and reduced 97. The biggest buy was Invesco Nasdaq 100 ETF (QQQM, shares +3235%) and the biggest sale SS Industrial Select Sector (XLI, shares −10%).
- Most Recent 13F
- Q2 2026
- Location
- Petach Tikva, L3
- CIK
- 0001415912
- Portfolio Value
- $11.6B (Q4 2025)
- SEC Filing
- 0001178913-26-000232 ↗ filed Jan 28, 2026
Holdings Value
Holdings 346 stocks · $11.6B
| TEVA Teva Pharmaceutical-SP ADR | 10.04% | 37,402,212 | $1.2B | Add +14.8% |
| QQQM Invesco Nasdaq 100 ETF | 6.74% | 3,098,047 | $783.6M | Add +3234.6% |
| XLK SS Technology Select Sector | 6.25% | 5,053,446 | $727.5M | Add +31.8% |
| XLI SS Industrial Select Sector | 4.35% | 3,262,446 | $506.1M | Reduce -9.5% |
| NVMI Nova Ltd. | 4.22% | 1,493,657 | $490.5M | Add +7.0% |
| GOOG Alphabet Inc. Class C | 3.57% | 1,323,291 | $415.3M | Add +31.2% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 3.32% | 9,052,676 | $386.5M | Add +155.1% |
| AMZN Amazon.com Inc. | 3.25% | 1,639,900 | $378.5M | Add +15.7% |
| TSM Taiwan Semiconductor-SP ADR | 3.16% | 1,207,805 | $368.0M | Reduce -0.7% |
| NVDA Nvidia Corp. | 3.11% | 1,940,486 | $361.9M | Add +10.0% |
| META Meta Platforms Inc. Class A | 3.07% | 541,234 | $357.3M | Add +14.0% |
| TSEM Tower Semiconductor Ltd. | 3.03% | 3,002,806 | $352.6M | Add +0.8% |
| XLY SS Consumer Disc Select Sect | 2.92% | 2,841,292 | $339.3M | Add +17.8% |
| XLC SS Comm Select Sector SPDR | 2.82% | 2,791,284 | $328.6M | Add +4.9% |
| IGV iShares Expanded Tech-Softwa | 2.47% | 2,719,572 | $287.4M | No change |
| XLF SS Financial Select Sector | 2.19% | 4,644,674 | $254.4M | Add +27.4% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 1.86% | 1,965,000 | $216.5M | No change |
| NICE Nice Ltd. - Spon ADR | 1.60% | 1,646,690 | $186.1M | Add +0.9% |
| AAPL Apple Inc. | 1.58% | 674,700 | $183.4M | Reduce -26.2% |
| MSFT Microsoft Corp. | 1.57% | 377,607 | $182.6M | Add +89.4% |
| KBWB Invesco KBW Bank ETF | 1.57% | 2,163,750 | $182.4M | Reduce -41.4% |
| SMH Vaneck Semiconductor ETF | 1.25% | 403,452 | $145.3M | Add +72.6% |
| CAMT Camtek Ltd. | 1.21% | 1,318,396 | $140.2M | Add +12.0% |
| AVGO Broadcom Inc. | 1.16% | 390,416 | $135.1M | Reduce -1.9% |
| AMAT Applied Materials Inc. | 1.14% | 514,000 | $132.1M | Add +97.7% |
| KWEB Kranesh Csi China Internet | 1.06% | 3,623,034 | $123.4M | Add +0.3% |
| LLY Eli Lilly & Co. | 0.98% | 106,335 | $114.3M | Reduce -40.9% |
| ORA Ormat Technologies Inc. | 0.84% | 886,526 | $97.9M | Add +155.8% |
| EPI Wisdomtree India Earnings | 0.83% | 2,086,319 | $96.6M | Reduce -0.4% |
| CQQQ Invesco China Technology ETF | 0.82% | 1,825,600 | $94.9M | New |
| CEG Constellation Energy | 0.76% | 250,158 | $88.4M | Add +4.7% |
| JPM JPMorgan Chase & Co. | 0.70% | 251,424 | $81.0M | Reduce -0.1% |
| ABBV Abbvie Inc. | 0.65% | 331,702 | $75.8M | Add +29.3% |
| XLB SS Materials Select Sector | 0.64% | 1,640,000 | $74.4M | No change |
| ENLT Enlight Renewable Energy Ltd. | 0.64% | 1,630,721 | $74.1M | No change |
| TSLA Tesla Inc. | 0.63% | 162,162 | $72.9M | Reduce -3.2% |
| CCJ Cameco Corp. | 0.59% | 745,000 | $68.2M | Add +101.3% |
| ITB iShares U.S. Home Constructi | 0.44% | 530,000 | $51.0M | No change |
| EXE Expand Energy Corp. | 0.44% | 460,000 | $50.8M | New |
| ORCL Oracle Corp. | 0.43% | 256,587 | $50.0M | Reduce -46.9% |
| XLV SS Health Care Select Sector | 0.43% | 320,504 | $49.6M | Reduce -52.1% |
| EQT Eqt Corp. | 0.43% | 925,000 | $49.6M | New |
| HD Home Depot Inc. | 0.41% | 140,000 | $48.2M | New |
| XLRE SS Real Estate Select Sector | 0.40% | 1,150,446 | $46.4M | Reduce 0.0% |
| FLIN Franklin Ftse India ETF | 0.38% | 1,145,000 | $44.2M | No change |
| BABA Alibaba Group Holding-SP ADR | 0.36% | 288,498 | $42.3M | Reduce -0.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.35% | 730,000 | $40.1M | No change |
| UBER Uber Technologies Inc. | 0.33% | 475,000 | $38.8M | New |
| CHKP Check Point Software Tech | 0.32% | 200,000 | $37.1M | New |
| LRCX Lam Research Corp. | 0.31% | 210,534 | $36.0M | Add +6769.0% |
| V Visa Inc. Class A | 0.29% | 97,458 | $34.2M | Add +0.8% |
| EQIX Equinix Inc. | 0.29% | 43,500 | $33.3M | No change |
| SPIB SS SPDR P Int C Corp. ETF | 0.28% | 953,744 | $32.2M | Add +8.2% |
| MS Morgan Stanley | 0.28% | 181,397 | $32.2M | Reduce -0.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.27% | 46,683 | $31.8M | Add +2.8% |
| GILD Gilead Sciences Inc. | 0.27% | 259,000 | $31.8M | No change |
| MA Mastercard Inc. Class A | 0.27% | 55,065 | $31.4M | Reduce -0.1% |
| GLBE Global-E Online Ltd. | 0.26% | 775,000 | $30.5M | No change |
| JEF Jefferies Financial Group Inc. | 0.21% | 398,000 | $24.7M | Reduce -50.1% |
| CLBT Cellebrite Di Ltd. | 0.21% | 1,350,000 | $24.3M | Add +28.6% |
| PANW Palo Alto Networks Inc. | 0.21% | 130,373 | $24.0M | Reduce -2.1% |
| VRNS Varonis Systems Inc. | 0.21% | 732,189 | $24.0M | Add +127.2% |
| SMWB Similarweb Ltd. | 0.20% | 3,106,157 | $23.3M | No change |
| ADBE Adobe Inc. | 0.19% | 62,480 | $21.9M | Reduce -0.2% |
| MBLY Mobileye Global Inc. Class A | 0.18% | 1,999,090 | $20.9M | No change |
| MNDY Monday.com Ltd. | 0.18% | 139,009 | $20.5M | Add +75.9% |
| QQQ Invesco QQQ Trust Series 1 | 0.17% | 33,113 | $20.4M | Add +3.3% |
| ESLT Elbit Systems Ltd. | 0.16% | 32,100 | $18.6M | No change |
| SSYS Stratasys Ltd. | 0.16% | 2,130,983 | $18.5M | No change |
| URGN Urogen Pharma Ltd. | 0.16% | 770,909 | $18.1M | No change |
| AZN Astrazeneca PLC-Spons ADR | 0.15% | 194,000 | $17.8M | No change |
| TATT Tat Technologies Ltd. | 0.15% | 386,996 | $17.3M | Add +92.1% |
| FROG Jfrog Ltd. | 0.15% | 274,047 | $17.1M | No change |
| ETN Eaton Corp. PLC | 0.14% | 52,000 | $16.6M | New |
| IYW iShares Ustechnology ETF | 0.14% | 79,900 | $16.0M | Reduce -0.8% |
| SEDG Solaredge Technologies Inc. | 0.14% | 544,846 | $15.7M | Add +11143.2% |
| TBLA Taboola.com Ltd. | 0.13% | 3,299,179 | $15.2M | Reduce -24.1% |
| NYAX Nayax Ltd. | 0.13% | 300,000 | $15.2M | No change |
| JNK SS SPDR BB High Yield Bond | 0.13% | 149,647 | $14.6M | Add +13.3% |
| GILT Gilat Satellite Networks Ltd. | 0.12% | 1,091,053 | $14.1M | No change |
| CORP PIMCO Inv Grade Corp. BD ETF | 0.12% | 140,919 | $13.8M | Add +7.0% |
| QLTA iShares Aaa - A Rated Corpor | 0.11% | 261,919 | $12.6M | Add +3.7% |
| BSJQ Invesco Bulletshares 2026 HY | 0.11% | 539,160 | $12.6M | Add +5.7% |
| PERI Perion Network Ltd. | 0.11% | 1,287,102 | $12.3M | Reduce -14.9% |
| WIX Wix.com Ltd. | 0.10% | 110,534 | $11.5M | No change |
| ODD Oddity Tech Ltd. Class A | 0.10% | 280,764 | $11.3M | No change |
| VOO Vanguard S&P 500 ETF | 0.09% | 16,260 | $10.2M | Reduce -20.3% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.08% | 49,513 | $9.5M | Add +45.0% |
| TLH iShares 10-20 Year Treasury | 0.08% | 89,094 | $9.1M | Add +2.0% |
| SNPE Xtrckr S&P 500 Scor&scrn ETF | 0.06% | 120,788 | $7.5M | Add +34.9% |
| FEZ State Street SPDR Euro Stoxx | 0.06% | 115,241 | $7.4M | Add +18.2% |
| XLG Invesco S&P 500 Top 50 ETF | 0.06% | 111,148 | $6.6M | Add +1942.0% |
| INVZ Innoviz Technologies Ltd. | 0.05% | 7,305,731 | $6.2M | No change |
| SPTI SS SPDR P Int Term TSY ETF | 0.05% | 199,019 | $5.7M | Add +39.7% |
| TIP iShares Tips Bond ETF | 0.05% | 51,280 | $5.6M | Add +2.7% |
| GOOGL Alphabet Inc. Class A | 0.05% | 17,915 | $5.6M | Add +11.3% |
| XAR SS SPDR S&P Aerospace Def | 0.05% | 22,602 | $5.5M | Reduce -45.9% |
| MINT PIMCO Enhanced Short Maturit | 0.05% | 53,778 | $5.4M | Add +6.2% |
| VEU Vanguard Ftse All-World Ex-U | 0.05% | 72,392 | $5.3M | Add +9.3% |
| SPMO Invesco S&P 500 Momentum ETF | 0.05% | 44,477 | $5.3M | Add +610.6% |
Portfolio Sells Q3 2025 → Q4 2025
| XLI SS Industrial Select Sector | Reduce -9.5% | 4.35% | −1.64 |
| KBWB Invesco KBW Bank ETF | Reduce -41.4% | 1.57% | −1.54 |
| ORCL Oracle Corp. | Reduce -46.9% | 0.43% | −1.03 |
| XLP SS Consumer Staples Sel Sect | Reduce -99.9% | 0.00% | −0.95 |
| AAPL Apple Inc. | Reduce -26.2% | 1.58% | −0.93 |
| XLE SS Energy Select Sector | Reduce -98.6% | 0.01% | −0.63 |
| XLV SS Health Care Select Sector | Reduce -52.1% | 0.43% | −0.58 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -0.7% | 3.16% | −0.50 |
| LLY Eli Lilly & Co. | Reduce -40.9% | 0.98% | −0.50 |
| JEF Jefferies Financial Group Inc. | Reduce -50.1% | 0.21% | −0.35 |
| VRTX Vertex Pharmaceuticals Inc. | Sold out | 0.00% | −0.32 |
| ONON On Holding AG Class A | Sold out | 0.00% | −0.31 |
| AVGO Broadcom Inc. | Reduce -1.9% | 1.16% | −0.25 |
| BABA Alibaba Group Holding-SP ADR | Reduce -0.2% | 0.36% | −0.19 |
| CROX Crocs Inc. | Sold out | 0.00% | −0.18 |
| TSLA Tesla Inc. | Reduce -3.2% | 0.63% | −0.18 |
| EPI Wisdomtree India Earnings | Reduce -0.4% | 0.83% | −0.17 |
| S Sentinelone Inc. Class A | Reduce -97.9% | 0.00% | −0.16 |
| JPM JPMorgan Chase & Co. | Reduce -0.1% | 0.70% | −0.16 |
| XLRE SS Real Estate Select Sector | Reduce 0.0% | 0.40% | −0.12 |
| PANW Palo Alto Networks Inc. | Reduce -2.1% | 0.21% | −0.09 |
| CEVA Ceva Inc. | Sold out | 0.00% | −0.08 |
| MA Mastercard Inc. Class A | Reduce -0.1% | 0.27% | −0.07 |
| XAR SS SPDR S&P Aerospace Def | Reduce -45.9% | 0.05% | −0.06 |
| PERI Perion Network Ltd. | Reduce -14.9% | 0.11% | −0.05 |
| ADBE Adobe Inc. | Reduce -0.2% | 0.19% | −0.05 |
| VOO Vanguard S&P 500 ETF | Reduce -20.3% | 0.09% | −0.05 |
| SLGL Sol-Gel Technologies Ltd. | Sold out | 0.00% | −0.04 |
| SPNS Sapiens International Corp. | Sold out | 0.00% | −0.04 |
| MS Morgan Stanley | Reduce -0.3% | 0.28% | −0.03 |
| FFIV F5 Inc. | Reduce -49.8% | 0.02% | −0.03 |
| IYW iShares Ustechnology ETF | Reduce -0.8% | 0.14% | −0.03 |
| TBLA Taboola.com Ltd. | Reduce -24.1% | 0.13% | −0.03 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -51.7% | 0.02% | −0.02 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Sold out | 0.00% | −0.02 |
| AISP Airship AI Holdings Inc. | Sold out | 0.00% | −0.02 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -20.5% | 0.02% | −0.02 |
| IVV iShares Core S&P 500 ETF | Reduce -76.5% | 0.00% | −0.01 |
| EEM iShares MSCI Emerging Market | Reduce -20.0% | 0.03% | −0.01 |
| ONEQ Fidelity Nasdaq Comp Indx | Reduce -13.3% | 0.03% | −0.01 |
| NET Cloudflare Inc. Class A | Reduce -11.5% | 0.02% | −0.01 |
| MU Micron Technology Inc. | Reduce -70.9% | 0.01% | −0.01 |
| QCOM Qualcomm Inc. | Reduce -61.5% | 0.01% | −0.01 |
| CIBR First Trust Nasdaq Cybersecu | Reduce -10.1% | 0.02% | −0.01 |
| ZS Zscaler Inc. | Reduce -1.5% | 0.02% | −0.01 |
| IGM iShares Expanded Tech Sector | Reduce -12.4% | 0.03% | −0.01 |
| QMMY FT NDQ100 Mod Buff ETF - May | Reduce -6.5% | 0.03% | −0.01 |
| TXN Texas Instruments Inc. | Reduce -81.0% | 0.00% | −0.01 |
| FTNT Fortinet Inc. | Reduce -4.0% | 0.03% | −0.01 |
| CRM Salesforce Inc. | Reduce -53.4% | 0.01% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| QQQM Invesco Nasdaq 100 ETF | Add +3234.6% | 6.74% | +6.49 |
| TEVA Teva Pharmaceutical-SP ADR | Add +14.8% | 10.04% | +2.95 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +155.1% | 3.32% | +1.66 |
| GOOG Alphabet Inc. Class C | Add +31.2% | 3.57% | +0.93 |
| CQQQ Invesco China Technology ETF | New | 0.82% | +0.82 |
| TSEM Tower Semiconductor Ltd. | Add +0.8% | 3.03% | +0.71 |
| AMAT Applied Materials Inc. | Add +97.7% | 1.14% | +0.56 |
| ORA Ormat Technologies Inc. | Add +155.8% | 0.84% | +0.48 |
| MSFT Microsoft Corp. | Add +89.4% | 1.57% | +0.46 |
| EXE Expand Energy Corp. | New | 0.44% | +0.44 |
| XLK SS Technology Select Sector | Add +31.8% | 6.25% | +0.44 |
| SMH Vaneck Semiconductor ETF | Add +72.6% | 1.25% | +0.43 |
| EQT Eqt Corp. | New | 0.43% | +0.43 |
| HD Home Depot Inc. | New | 0.41% | +0.41 |
| UBER Uber Technologies Inc. | New | 0.33% | +0.33 |
| CHKP Check Point Software Tech | New | 0.32% | +0.32 |
| LRCX Lam Research Corp. | Add +6769.0% | 0.31% | +0.31 |
| CCJ Cameco Corp. | Add +101.3% | 0.59% | +0.25 |
| ETN Eaton Corp. PLC | New | 0.14% | +0.14 |
| SEDG Solaredge Technologies Inc. | Add +11143.2% | 0.14% | +0.13 |
| XLF SS Financial Select Sector | Add +27.4% | 2.19% | +0.07 |
| XLG Invesco S&P 500 Top 50 ETF | Add +1942.0% | 0.06% | +0.05 |
| TATT Tat Technologies Ltd. | Add +92.1% | 0.15% | +0.05 |
| SPMO Invesco S&P 500 Momentum ETF | Add +610.6% | 0.05% | +0.04 |
| RSP Invesco S&P 500 Equal Weight | Add +778.4% | 0.03% | +0.03 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +45.0% | 0.08% | +0.01 |
| ABBV Abbvie Inc. | Add +29.3% | 0.65% | +0.01 |
| MNDY Monday.com Ltd. | Add +75.9% | 0.18% | +0.01 |
| VRNS Varonis Systems Inc. | Add +127.2% | 0.21% | +0.01 |
| SNPE Xtrckr S&P 500 Scor&scrn ETF | Add +34.9% | 0.06% | +0.01 |
| PLD Prologis Inc. | New | 0.01% | +0.01 |
| GOOGL Alphabet Inc. Class A | Add +11.3% | 0.05% | +0.01 |
| COP Conocophillips | New | 0.01% | +0.01 |
| TMUS T-Mobile US Inc. | Add +1106.2% | 0.01% | +0.01 |
| SPTI SS SPDR P Int Term TSY ETF | Add +39.7% | 0.05% | +0.01 |
| IBDR iShares Ibonds Dec 2026 Term | New | 0.00% | +0.00 |
| BSCQ Invesco Bulletshares 2026 CB | Add +160.4% | 0.01% | +0.00 |
| RTX RTX Corp. | Add +85.8% | 0.01% | +0.00 |
| ICSH iShares Ultra Short Duration | New | 0.00% | +0.00 |
| MCHI iShares MSCI China ETF | New | 0.00% | +0.00 |
| PLTR Palantir Technologies Inc. Class A | Add +230.3% | 0.00% | +0.00 |
| RPV Invesco S&P 500 Pure Value E | New | 0.00% | +0.00 |
| IWM iShares Russell 2000 ETF | Add +75.2% | 0.01% | +0.00 |
| NEE Nextera Energy Inc. | Add +61.5% | 0.01% | +0.00 |
| SPSB SS SPDR P St C Corp. ETF | Add +52.9% | 0.01% | +0.00 |
| SOFI Sofi Technologies Inc. | New | 0.00% | +0.00 |
| QJUN FT Vest Nasdaq-100 Buffer Et | New | 0.00% | +0.00 |
| CIEN Ciena Corp. | New | 0.00% | +0.00 |
| WMT Walmart Inc. | Add +40.1% | 0.01% | +0.00 |
| PLUG Plug Power Inc. | New | 0.00% | +0.00 |
Notes & Other Activity Q3 2025 → Q4 2025
| SN Sharkninja Inc. | COM SHS | Sold out | 0 | $0before exit |
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 | 363 | $15.6B | TEVA, XLK, XLI, NVMI, GOOG |
| Q1 2026 | 360 | $11.5B | TEVA, NVMI, XLI, XLK, GOOG |
| Q4 2025 | 346 | $11.6B | TEVA, QQQM, XLK, XLI, NVMI |
| Q3 2025 | 324 | $9.3B | TEVA, XLI, XLK, NVMI, META |
| Q2 2025Amended | 357 | $8.4B | XLK, XLI, TEVA, KBWB, NVMI |
| Q1 2025 | 407 | $7.1B | TEVA, XLI, XLF, XLK, NICE |
| Q4 2024 | 388 | $7.0B | TEVA, XLI, XLF, IGV, NVMI |
| Q3 2024 | 446 | $6.2B | TEVA, IGV, XLU, NICE, XLI |
| Q2 2024 | 503 | $6.0B | TEVA, XLC, XLI, NVMI, IGV |
| Q1 2024 | 399 | $6.2B | VTWO, TEVA, NICE, IGV, XLI |