Phoenix Financial Ltd.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Phoenix Financial Ltd. reported 454 stock positions worth $8.2 billion. Its top holding was Teva Pharmaceutical-SP ADR (TEVA) at 10.2% of the portfolio, followed by iShares MSCI Acwi ETF (ACWI, 5.5%) and Microsoft (MSFT, 4.4%). Compared with Q2 2025, it opened 79 new positions, sold out of 43, added to 154 and reduced 178. The biggest buy was a new position in Vanguard Russell 1000 Value (VONV) and the biggest sale Norfolk Southern (NSC, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- Givatayim, L3
- CIK
- 0001679543
- Portfolio Value
- $8.2B (Q3 2025)
- SEC Filing
- 0001178913-25-003791 ↗ filed Nov 13, 2025
Holdings Value
Holdings 454 stocks · $8.2B
| TEVA Teva Pharmaceutical-SP ADR | 10.17% | 41,295,244 | $834.2M | Add +9.4% |
| ACWI iShares MSCI Acwi ETF | 5.47% | 3,247,975 | $449.1M | Add +41.7% |
| MSFT Microsoft Corp. | 4.42% | 700,309 | $362.7M | Reduce -5.7% |
| RSP Invesco S&P 500 Equal Weight | 4.09% | 1,768,432 | $335.5M | Add +13.8% |
| NVDA Nvidia Corp. | 3.72% | 1,676,338 | $305.0M | Reduce -8.4% |
| TSEM Tower Semiconductor Ltd. | 3.41% | 3,869,737 | $279.8M | Add +5.7% |
| AMZN Amazon.com Inc. | 3.25% | 1,215,112 | $266.8M | Reduce -23.0% |
| VONV Vanguard Russell 1000 Value | 3.16% | 2,904,000 | $259.5M | New |
| XLI SS Industrial Select Sector | 2.86% | 1,520,306 | $234.5M | Reduce -37.8% |
| GOOG Alphabet Inc. Class C | 2.65% | 892,560 | $217.4M | Reduce -10.8% |
| AAPL Apple Inc. | 2.64% | 850,706 | $216.7M | Add +24.5% |
| XLRE SS Real Estate Select Sector | 2.41% | 4,697,204 | $197.9M | Add +102.1% |
| XLK SS Technology Select Sector | 2.20% | 639,299 | $180.2M | Add +41.5% |
| EXE Expand Energy Corp. | 2.07% | 1,598,101 | $169.8M | New |
| IGV iShares Expanded Tech-Softwa | 1.85% | 1,320,685 | $151.9M | Reduce -2.4% |
| IYF iShares US Financials ETF | 1.85% | 1,196,572 | $151.5M | No change |
| XLV SS Health Care Select Sector | 1.64% | 966,324 | $134.5M | Reduce -0.1% |
| TSM Taiwan Semiconductor-SP ADR | 1.48% | 434,409 | $121.6M | Reduce -6.7% |
| XLP SS Consumer Staples Sel Sect | 1.41% | 1,476,022 | $115.7M | Add +509.9% |
| ICL Icl Group Ltd. | 1.36% | 17,960,405 | $111.7M | Reduce -4.5% |
| IXJ iShares Global Healthcare Et | 1.30% | 1,199,280 | $106.3M | Reduce 0.0% |
| JHX James Hardie Ind PLC | 1.29% | 5,509,541 | $105.8M | New |
| EWZ iShares MSCI Brazil ETF | 1.22% | 3,237,000 | $100.3M | Reduce -51.0% |
| NICE Nice Ltd. - Spon ADR | 1.21% | 683,800 | $99.0M | Reduce -42.0% |
| PANW Palo Alto Networks Inc. | 1.14% | 461,097 | $93.9M | Add +746.6% |
| QQQ Invesco QQQ Trust Series 1 | 1.10% | 150,399 | $90.4M | Add +1.6% |
| WFC Wells Fargo & Co. | 1.07% | 1,044,072 | $87.5M | Reduce -20.4% |
| XLC SS Comm Select Sector SPDR | 0.98% | 681,097 | $80.6M | New |
| VRNS Varonis Systems Inc. | 0.98% | 1,401,501 | $80.5M | Reduce -2.9% |
| XLF SS Financial Select Sector | 0.98% | 1,488,411 | $80.2M | Reduce -51.0% |
| GILT Gilat Satellite Networks Ltd. | 0.97% | 6,132,222 | $79.8M | Add +215.7% |
| GOOGL Alphabet Inc. Class A | 0.83% | 280,639 | $68.2M | Reduce -4.8% |
| META Meta Platforms Inc. Class A | 0.81% | 94,055 | $66.5M | Reduce -19.7% |
| TGT Target Corp. | 0.77% | 702,711 | $63.0M | Add +0.1% |
| AZN Astrazeneca PLC-Spons ADR | 0.75% | 804,660 | $61.7M | Reduce -0.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.75% | 92,055 | $61.4M | Add +0.0% |
| ORCL Oracle Corp. | 0.73% | 216,770 | $59.5M | Reduce -58.6% |
| AVGO Broadcom Inc. | 0.64% | 169,645 | $52.5M | Reduce -19.6% |
| INDA iShares MSCI India ETF | 0.64% | 1,002,462 | $52.2M | Add +1612.7% |
| CLBT Cellebrite Di Ltd. | 0.57% | 2,507,096 | $46.5M | Add +24.4% |
| ENLT Enlight Renewable Energy Ltd. | 0.53% | 1,389,786 | $43.3M | Add +0.4% |
| NVMI Nova Ltd. | 0.51% | 131,667 | $42.0M | Reduce -66.9% |
| SSYS Stratasys Ltd. | 0.49% | 3,622,006 | $40.6M | Add +103.8% |
| EXI iShares Global Industrials E | 0.45% | 215,300 | $37.2M | No change |
| SBIO Alps Medical Breakthroughs | 0.43% | 1,465,173 | $35.6M | No change |
| ARKO Arko Corp. | 0.41% | 7,309,430 | $33.4M | Add +20.4% |
| MCHI iShares MSCI China ETF | 0.40% | 500,000 | $32.9M | No change |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.36% | 342,383 | $29.9M | Reduce -38.4% |
| LRCX Lam Research Corp. | 0.36% | 221,700 | $29.7M | Reduce -4.2% |
| CFLT Confluent Inc. Class A | 0.35% | 1,471,222 | $29.1M | Reduce -3.7% |
| XLE SS Energy Select Sector | 0.35% | 325,317 | $29.1M | Reduce -56.0% |
| TSLA Tesla Inc. | 0.35% | 63,674 | $28.3M | Reduce -6.5% |
| MA Mastercard Inc. Class A | 0.34% | 49,580 | $28.2M | Add +11.2% |
| SMWB Similarweb Ltd. | 0.34% | 2,993,086 | $27.8M | Add +83.7% |
| ITB iShares U.S. Home Constructi | 0.29% | 223,980 | $24.0M | New |
| RSKD Riskified Ltd. Class A | 0.29% | 5,082,513 | $23.8M | Reduce -19.1% |
| JPM JPMorgan Chase & Co. | 0.25% | 65,667 | $20.7M | Reduce -14.5% |
| CAMT Camtek Ltd. | 0.25% | 183,594 | $20.3M | Reduce -59.1% |
| V Visa Inc. Class A | 0.24% | 65,096 | $19.8M | Add +0.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.24% | 40,092 | $19.4M | Add +13.1% |
| LLY Eli Lilly & Co. | 0.23% | 33,356 | $19.2M | Add +6.5% |
| PERI Perion Network Ltd. | 0.23% | 1,962,231 | $18.8M | Add +29.8% |
| WMT Walmart Inc. | 0.22% | 173,800 | $17.9M | Reduce -19.9% |
| NFLX Netflix Inc. | 0.21% | 14,279 | $17.1M | Reduce -8.6% |
| PAYO Payoneer Global Inc. | 0.20% | 2,703,780 | $16.4M | No change |
| TATT Tat Technologies Ltd. | 0.20% | 366,406 | $16.1M | Add +131.1% |
| UBER Uber Technologies Inc. | 0.19% | 160,017 | $15.7M | Add +47.5% |
| FLY Firefly Aerospace Inc. | 0.18% | 493,461 | $14.5M | New |
| COST Costco Wholesale Corp. | 0.17% | 15,399 | $14.3M | Reduce -28.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.17% | 271,758 | $14.1M | Reduce -5.8% |
| UNH Unitedhealth Group Inc. | 0.17% | 41,395 | $14.1M | Add +108.5% |
| HD Home Depot Inc. | 0.16% | 31,905 | $12.9M | Reduce -15.0% |
| ESLT Elbit Systems Ltd. | 0.16% | 25,000 | $12.7M | No change |
| AMAT Applied Materials Inc. | 0.15% | 61,004 | $12.5M | Add +31.7% |
| XOM Exxon Mobil Corp. | 0.15% | 110,910 | $12.3M | Add +1.6% |
| SMH Vaneck Semiconductor ETF | 0.14% | 35,704 | $11.7M | Reduce -73.7% |
| GOVT iShares US Treasury Bond ETF | 0.14% | 498,043 | $11.5M | Add +1.4% |
| KMDA Kamada Ltd. | 0.14% | 1,654,952 | $11.5M | No change |
| SPIB SS SPDR P Int C Corp. ETF | 0.13% | 324,741 | $11.0M | Add +9.3% |
| C Citigroup Inc. | 0.13% | 106,459 | $10.8M | Reduce -3.0% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.13% | 194,115 | $10.5M | Add +2.6% |
| MGIC Magic Software Enterprises | 0.12% | 488,350 | $10.0M | Reduce -28.0% |
| GLD SPDR Gold Shares | 0.12% | 27,596 | $9.8M | Reduce -19.2% |
| AMD Advanced Micro Devices | 0.12% | 59,794 | $9.7M | Add +19.5% |
| ORA Ormat Technologies Inc. | 0.12% | 98,481 | $9.5M | No change |
| ODYS Odysight.ai Inc. | 0.11% | 2,053,522 | $9.2M | No change |
| CRM Salesforce Inc. | 0.11% | 38,840 | $9.2M | Reduce -27.2% |
| KWEB Kranesh Csi China Internet | 0.11% | 210,504 | $8.8M | Add +0.1% |
| MCK McKesson Corp. | 0.11% | 11,320 | $8.8M | Reduce -32.4% |
| SHLD Global X Defense Tech ETF | 0.11% | 123,088 | $8.6M | Reduce -11.5% |
| CSCO Cisco Systems Inc. | 0.10% | 123,920 | $8.5M | Reduce -16.4% |
| ADBE Adobe Inc. | 0.10% | 23,605 | $8.3M | Reduce -42.0% |
| LIN Linde PLC | 0.10% | 16,507 | $7.8M | Add +3.9% |
| PGR Progressive Corp. | 0.09% | 31,504 | $7.8M | Reduce -26.8% |
| PEP Pepsico Inc. | 0.09% | 54,199 | $7.6M | Add +65.4% |
| BSX Boston Scientific Corp. | 0.09% | 76,308 | $7.5M | Reduce -32.6% |
| VOO Vanguard S&P 500 ETF | 0.09% | 11,923 | $7.3M | Reduce -9.3% |
| INVZ Innoviz Technologies Ltd. | 0.09% | 3,577,752 | $7.3M | Reduce -10.1% |
| FCX Freeport-McMoran Inc. | 0.09% | 184,989 | $7.3M | Reduce -90.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.09% | 62,823 | $7.2M | Reduce -5.8% |
Options reported separately and not counted above: NICE LTD calls ($107K), ORMAT TECHNOLOGIES INC calls ($69K), SEAPORT ENTMT GROUP INC puts ($42K), GLOBAL E ONLINE LTD calls ($36K), TOWER SEMICONDUCTOR LTD calls ($6K).
Other holdings (3): bonds, preferreds, convertibles and warrants · $280K (not counted above)
Total filed on the 13F, all lines: $8.2B.
Portfolio Sells Q2 2025 → Q3 2025
| NSC Norfolk Southern Corp. | Reduce -98.7% | 0.03% | −1.93 |
| XLI SS Industrial Select Sector | Reduce -37.8% | 2.86% | −1.90 |
| NICE Nice Ltd. - Spon ADR | Reduce -42.0% | 1.21% | −1.56 |
| AMZN Amazon.com Inc. | Reduce -23.0% | 3.25% | −1.31 |
| NVMI Nova Ltd. | Reduce -66.9% | 0.51% | −1.31 |
| EWZ iShares MSCI Brazil ETF | Reduce -51.0% | 1.22% | −1.29 |
| XLF SS Financial Select Sector | Reduce -51.0% | 0.98% | −1.12 |
| FCX Freeport-McMoran Inc. | Reduce -90.7% | 0.09% | −1.05 |
| ORCL Oracle Corp. | Reduce -58.6% | 0.73% | −0.79 |
| MCD McDonald's Corp. | Reduce -89.1% | 0.07% | −0.61 |
| XLY SS Consumer Disc Select Sect | Reduce -95.3% | 0.03% | −0.52 |
| XLE SS Energy Select Sector | Reduce -56.0% | 0.35% | −0.47 |
| MSFT Microsoft Corp. | Reduce -5.7% | 4.42% | −0.45 |
| WIX Wix.com Ltd. | Reduce -95.6% | 0.02% | −0.41 |
| SMH Vaneck Semiconductor ETF | Reduce -73.7% | 0.14% | −0.36 |
| ICL Icl Group Ltd. | Reduce -4.5% | 1.36% | −0.35 |
| META Meta Platforms Inc. Class A | Reduce -19.7% | 0.81% | −0.32 |
| WFC Wells Fargo & Co. | Reduce -20.4% | 1.07% | −0.32 |
| XTN SS SPDR S&P Transport ETF | Sold out | 0.00% | −0.32 |
| CAMT Camtek Ltd. | Reduce -59.1% | 0.25% | −0.25 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -38.4% | 0.36% | −0.23 |
| TBLA Taboola.com Ltd. | Sold out | 0.00% | −0.16 |
| CFLT Confluent Inc. Class A | Reduce -3.7% | 0.35% | −0.15 |
| CAE Cae Inc. | Sold out | 0.00% | −0.14 |
| BRK.A Berkshire Hathaway Inc. Class A | Sold out | 0.00% | −0.13 |
| RSKD Riskified Ltd. Class A | Reduce -19.1% | 0.29% | −0.12 |
| AVGO Broadcom Inc. | Reduce -19.6% | 0.64% | −0.12 |
| ADBE Adobe Inc. | Reduce -42.0% | 0.10% | −0.11 |
| COST Costco Wholesale Corp. | Reduce -28.2% | 0.17% | −0.11 |
| IGV iShares Expanded Tech-Softwa | Reduce -2.4% | 1.85% | −0.10 |
| TLH iShares 10-20 Year Treasury | Sold out | 0.00% | −0.09 |
| INTU Intuit Inc. | Reduce -50.7% | 0.06% | −0.09 |
| XLV SS Health Care Select Sector | Reduce -0.1% | 1.64% | −0.08 |
| CRM Salesforce Inc. | Reduce -27.2% | 0.11% | −0.08 |
| NVDA Nvidia Corp. | Reduce -8.4% | 3.72% | −0.08 |
| MRSH Marsh & McLennan Cos | Reduce -51.7% | 0.05% | −0.07 |
| BSX Boston Scientific Corp. | Reduce -32.6% | 0.09% | −0.07 |
| TDG Transdigm Group Inc. | Reduce -48.3% | 0.05% | −0.07 |
| IXJ iShares Global Healthcare Et | Reduce 0.0% | 1.30% | −0.07 |
| NFLX Netflix Inc. | Reduce -8.6% | 0.21% | −0.07 |
| WMT Walmart Inc. | Reduce -19.9% | 0.22% | −0.06 |
| COF Capital One Financial Corp. | Reduce -38.9% | 0.08% | −0.06 |
| PGR Progressive Corp. | Reduce -26.8% | 0.09% | −0.06 |
| MCK McKesson Corp. | Reduce -32.4% | 0.11% | −0.06 |
| UNP Union Pacific Corp. | Reduce -47.2% | 0.05% | −0.05 |
| BWAY Brainsway Ltd.-ADR | Reduce -82.6% | 0.01% | −0.05 |
| MGIC Magic Software Enterprises | Reduce -28.0% | 0.12% | −0.05 |
| CEG Constellation Energy | Reduce -74.8% | 0.01% | −0.05 |
| MBLY Mobileye Global Inc. Class A | Reduce -10.3% | 0.09% | −0.05 |
| SYK Stryker Corp. | Reduce -23.2% | 0.09% | −0.04 |
Portfolio Buys Q2 2025 → Q3 2025
| VONV Vanguard Russell 1000 Value | New | 3.16% | +3.16 |
| EXE Expand Energy Corp. | New | 2.07% | +2.07 |
| TEVA Teva Pharmaceutical-SP ADR | Add +9.4% | 10.17% | +1.82 |
| ACWI iShares MSCI Acwi ETF | Add +41.7% | 5.47% | +1.58 |
| JHX James Hardie Ind PLC | New | 1.29% | +1.29 |
| TSEM Tower Semiconductor Ltd. | Add +5.7% | 3.41% | +1.17 |
| XLP SS Consumer Staples Sel Sect | Add +509.9% | 1.41% | +1.15 |
| XLRE SS Real Estate Select Sector | Add +102.1% | 2.41% | +1.14 |
| PANW Palo Alto Networks Inc. | Add +746.6% | 1.14% | +1.00 |
| XLC SS Comm Select Sector SPDR | New | 0.98% | +0.98 |
| GILT Gilat Satellite Networks Ltd. | Add +215.7% | 0.97% | +0.79 |
| XLK SS Technology Select Sector | Add +41.5% | 2.20% | +0.69 |
| INDA iShares MSCI India ETF | Add +1612.7% | 0.64% | +0.59 |
| AAPL Apple Inc. | Add +24.5% | 2.64% | +0.41 |
| RSP Invesco S&P 500 Equal Weight | Add +13.8% | 4.09% | +0.36 |
| ITB iShares U.S. Home Constructi | New | 0.29% | +0.29 |
| FLY Firefly Aerospace Inc. | New | 0.18% | +0.18 |
| CLBT Cellebrite Di Ltd. | Add +24.4% | 0.57% | +0.14 |
| TATT Tat Technologies Ltd. | Add +131.1% | 0.20% | +0.13 |
| ENLT Enlight Renewable Energy Ltd. | Add +0.4% | 0.53% | +0.11 |
| UNH Unitedhealth Group Inc. | Add +108.5% | 0.17% | +0.09 |
| ARKO Arko Corp. | Add +20.4% | 0.41% | +0.07 |
| PAVE Global X US Infrastructure | New | 0.06% | +0.06 |
| SMWB Similarweb Ltd. | Add +83.7% | 0.34% | +0.06 |
| UBER Uber Technologies Inc. | Add +47.5% | 0.19% | +0.06 |
| IWM iShares Russell 2000 ETF | New | 0.05% | +0.05 |
| IVLU iShares MSCI International V | New | 0.05% | +0.05 |
| PBI Pitney Bowes Inc. | New | 0.04% | +0.04 |
| APP AppLovin Corp. Class A | Add +576.5% | 0.05% | +0.04 |
| AMD Advanced Micro Devices | Add +19.5% | 0.12% | +0.04 |
| AMAT Applied Materials Inc. | Add +31.7% | 0.15% | +0.04 |
| ADSK Autodesk Inc. | Add +630.1% | 0.04% | +0.04 |
| PEP Pepsico Inc. | Add +65.4% | 0.09% | +0.04 |
| PLTR Palantir Technologies Inc. Class A | Add +67.7% | 0.07% | +0.03 |
| SPBO SS SPDR P Corp. Bond ETF | New | 0.03% | +0.03 |
| PM Philip Morris International | Add +139.1% | 0.06% | +0.03 |
| EWJ iShares MSCI Japan ETF | Add +106.9% | 0.05% | +0.03 |
| BMY Bristol-Myers Squibb Co. | Add +110.1% | 0.06% | +0.03 |
| CME Cme Group Inc. | New | 0.03% | +0.03 |
| WDAY Workday Inc. Class A | New | 0.02% | +0.02 |
| ARE Alexandria Real Estate Equit | New | 0.02% | +0.02 |
| NOW ServiceNow Inc. | Add +104.8% | 0.06% | +0.02 |
| QQQ Invesco QQQ Trust Series 1 | Add +1.6% | 1.10% | +0.02 |
| KRE SS SPDR S&P Regional Bank | New | 0.02% | +0.02 |
| BTI British American Tob-SP ADR | Add +493.4% | 0.03% | +0.02 |
| PFE Pfizer Inc. | Add +98.7% | 0.05% | +0.02 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +95.9% | 0.07% | +0.02 |
| BP BP PLC-Spons ADR | New | 0.02% | +0.02 |
| DHI D.R. Horton Inc. | Add +11.6% | 0.08% | +0.02 |
| DG Dollar General Corp. | Add +157.9% | 0.04% | +0.02 |
Options Activity Q2 2025 → Q3 2025
| NICE LTD | call | New | 742,000 | $107K |
| ORMAT TECHNOLOGIES INC | call | New | 720,300 | $69K |
| SEAPORT ENTMT GROUP INC | put | New | 126,800 | $42K |
| GLOBAL E ONLINE LTD | call | Add +126.7% | 1,020,000 | $36K |
| MOBILEYE GLOBAL INC | call | Sold out | 765,000 | $14Kbefore exit |
| TOWER SEMICONDUCTOR LTD | call | New | 80,000 | $6K |
| ICL GROUP LTD | call | Sold out | 400,000 | $3Kbefore exit |
| ALLY FINL INC | call | Sold out | 33,000 | $1Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025
| TBLAW Taboola.com Ltd. -CW27 | *W EXP 99/99/999 | Reduce -19.6% | 613,632 | $187K |
| EVGO INC | *W EXP 07/01/202 | Reduce -12.5% | 35,000 | $29K |
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 | 518 | $14.6B | TEVA, TSEM, XLI, IXN, TSM |
| Q1 2026 | 480 | $10.5B | TEVA, TSEM, XLI, AMZN, IXN |
| Q4 2025 | 459 | $9.2B | TEVA, XLI, TSEM, AMZN, MSFT |
| Q3 2025Amended | 454 | $8.2B | TEVA, ACWI, MSFT, RSP, NVDA |
| Q2 2025 | 418 | $7.6B | TEVA, MSFT, XLI, AMZN, ACWI |
| Q1 2025 | 363 | $6.5B | TEVA, AMZN, RSP, MSFT, XLF |
| Q4 2024 | 352 | $7.3B | XLF, TEVA, AMZN, MSFT, NICE |
| Q3 2024 | 353 | $6.8B | XLF, TEVA, NICE, MSFT, AMZN |
| Q2 2024 | 338 | $6.6B | XLF, TEVA, NICE, MSFT, NVDA |
| Q1 2024 | 400 | $7.2B | XLF, TEVA, XOP, NICE, XLV |