CIK: 0001429390
Total reported value
$14.7B
Reporting period: 2026-03-31 · Number of holdings: 509
Harel Insurance Investments & Financial Services Ltd. disclosed 509 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $14.7B and a quarterly turnover rate of 56.2%.
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Harel Insurance Investments & Financial Services Ltd.'s disclosed holdings carry a Herfindahl concentration index of 0.032 — mathematically equivalent to about 31 equally-sized positions, well below its 509 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 3.92), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 60% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Add AAPL
+552.5% $492.3M
Add XLI
+3790.3% $462.5M
Trim XLV
-32.8% -$237.8M
Trim TEVA
+2.2% -$18.7M
Add PANW
+1665.1% $414.0M
Trim XLK
-51.3% -$230.4M
Harel Insurance Investments is making a decisive capital rotation out of defensive sectors (health care, utilities) and into high-momentum tech and cyclical exposure via massive adds to AAPL, NVDA, META, PANW, and XLI. This is an aggressive bet that the risk-on regime has further to run, and they're loading up on the market's most consensus crowded trades to capture the last leg of momentum.
The portfolio is pricing in a Goldilocks macro scenario: sustained growth without inflation reacceleration, allowing the Fed to remain accommodative and earnings to power higher. The opposing thesis is that this is peak euphoria — the momentum factor is stretched to extreme levels, and any hawkish surprise or growth scare will trigger a violent unwind, hitting these same high-beta names disproportionately hard from a positioning squeeze.
With a momentum-contrarian score of 100, Harel is effectively a momentum index fund — the entire strategy is reflexively exposed to factor breakdown. If momentum suddenly reverses, the fund's own concentrated buying becomes the source of selling pressure. The 49% allocation to Information Technology magnifies this; a multiple compression triggered by fading AI sentiment would devastate the portfolio's core holdings without any defensive ballast.
This narrative is produced by AI from publicly available filings and describes past activity only — it is informational, not investment advice.
Showing top 200 holdings (of 509 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | TEVA | Teva Pharmaceutical-sp Adr | Stock-Healthcare | 9.39% | -2.76% | +2.24% | |
| 2 | NVMI | Nova Ltd. | Stock-Other | 6.38% | +2.20% | +47.47% | |
| 3 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 4.84% | +0.56% | +57.29% | |
| 4 | NVDA | Nvidia CORP | Stock-Tech | 4.82% | +1.96% | +130.40% | |
| 5 | AAPL | Apple INC | Stock-Tech | 3.99% | +3.15% | +552.48% | |
| 6 | MSFT | Microsoft CORP | Stock-Tech | 3.41% | +1.02% | +138.77% | |
| 7 | XLI | Ss Industrial Select Sector | ETF-Other | 3.22% | +3.12% | +3790.28% | |
| 8 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 3.19% | +0.01% | +15.21% | |
| 9 | PAVE | Global X US Infrastructure | ETF-Other | 3.08% | +0.49% | +43.26% | |
| 10 | PANW | Palo Alto Networks INC | Stock-Tech | 3.00% | +2.75% | +1665.07% | |
| 11 | XLV | Ss Health Care Select Sector | ETF-Other | 2.82% | -2.84% | -32.81% | |
| 12 | AMZN | Amazon.com INC | Stock-Consumer Disc | 2.76% | +0.16% | +50.30% | |
| 13 | META | Meta Platforms Inc-class A | Stock-Comm Services | 2.60% | +1.56% | +268.18% | |
| 14 | TSEM | Tower Semiconductor Ltd. | Stock-Tech | 2.37% | +0.01% | -14.16% | |
| 15 | CAMT | Camtek Ltd. | Stock-Other | 2.37% | +0.84% | +38.24% | |
| 16 | SHLD | Global X Defense Tech ETF | ETF-Tech | 2.23% | +1.19% | +151.06% | |
| 17 | CLIP | Global X 1-3 Month T-bill | ETF-Other | 2.04% | — | — | |
| 18 | IAI | Ishares U.s. Broker-dealers | ETF-Other | 2.02% | +0.19% | +53.57% | |
| 19 | ESLT | Elbit Systems Ltd. | Stock-Industrials | 1.55% | +1.11% | +206.10% | |
| 20 | AVGO | Broadcom INC | Stock-Tech | 1.55% | +0.18% | +61.38% | |
| 21 | FCOM | Fidelity Msci Comm Serv Indx | ETF-Other | 1.45% | — | +5.18% | |
| 22 | VGT | Vanguard Info Tech ETF | ETF-Tech | 1.44% | -0.76% | -9.41% | |
| 23 | SMH | Vaneck Semiconductor ETF | ETF-Other | 1.39% | -2.35% | -55.44% | |
| 24 | XLK | Ss Technology Select Sector | ETF-Tech | 1.28% | -2.35% | -51.28% | |
| 25 | GE | General Electric | Stock-Industrials | 1.28% | +0.06% | +44.54% | |
| 26 | ENLT | Enlight Renewable Energy Ltd | Stock-Other | 1.25% | +0.18% | -0.79% | |
| 27 | MISL | First Trust Indxx Aero & Def | ETF-Other | 1.20% | +0.16% | +41.18% | |
| 28 | SNOW | Snowflake INC | Stock-Tech | 1.20% | -0.06% | +76.85% | |
| 29 | COPX | Global X Copper Miners ETF | ETF-Other | 1.19% | +0.70% | +197.45% | |
| 30 | GS | Goldman Sachs Group INC | Stock-Financials | 1.15% | -0.06% | +26.99% | |
| 31 | HON | Honeywell International INC | Stock-Industrials | 1.11% | -0.11% | +0.03% | |
| 32 | DDOG | Datadog INC - Class A | Stock-Tech | 1.06% | — | +26.54% | |
| 33 | LRCX | Lam Research CORP | Stock-Tech | 1.06% | +1.04% | +6106.47% | |
| 34 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 1.04% | +0.99% | +2431.97% | |
| 35 | WMT | Walmart INC | Stock-Consumer Staples | 0.96% | +0.88% | +1352.04% | |
| 36 | XLY | Ss Consumer Disc Select Sect | ETF-Other | 0.92% | -1.65% | -49.76% | |
| 37 | MDB | Mongodb INC | Stock-Tech | 0.91% | — | +55.04% | |
| 38 | ORA | Ormat Technologies INC | Stock-Utilities | 0.87% | +0.04% | +32.66% | |
| 39 | NICE | Nice LTD - Spon Adr | Stock-Tech | 0.77% | — | +16.83% | |
| 40 | IYC | Ishares US Consumer Discreti | ETF-Other | 0.70% | — | +12.73% | |
| 41 | XME | Ss Spdr S&p Metals Mining | ETF-Other | 0.60% | — | -11.67% | |
| 42 | ORCL | Oracle CORP | Stock-Tech | 0.59% | +0.11% | +109.15% | |
| 43 | GLBE | Global-E Online Ltd. | Stock-Other | 0.43% | -0.27% | — | |
| 44 | ETOR | eToro Group Ltd. | Stock-Other | 0.40% | — | +61.95% | |
| 45 | MRVL | Marvell Technology INC | Stock-Tech | 0.39% | — | — | |
| 46 | SEDG 2.25 07-01-29 | Solar Edge Technologies | Stock-Tech | 0.37% | +0.05% | — | |
| 47 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.35% | — | +6.31% | |
| 48 | RSPD | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 0.32% | — | +5.76% | |
| 49 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.30% | — | +9.52% | |
| 50 | VTV | Vanguard Value ETF | ETF-Other | 0.29% | +0.26% | +1186.86% |
Performance for Q3 2026
+1.5%
Performance Last 4 Quarters
+25.8%
Based on 68% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 509 | $14.7B | 56 | |
| 2025-12-31 | 435 | $11.5B | 65 | |
| 2025-09-30 | 469 | $11.1B | 51 | |
| 2025-06-30 | 437 | $8.7B | 0 | |
| 2025-03-31 | 481 | $7.6B | 100 | |
| 2024-12-31 | 474 | $6.1B | 0 | |
| 2024-09-30 | 493 | $5.8B | 0 | |
| 2024-06-30 | 547 | $5.3B | 0 | |
| 2024-03-31 | 539 | $5.2B | 0 | |
| 2023-12-31 | 606 | $5.7B | 0 | |
| 2023-09-30 | 683 | $5.1B | 0 | |
| 2023-06-30 | 686 | $4.1B | 0 | |
| 2023-03-31 | 698 | $4.9B | 0 | |
| 2022-12-31 | 683 | $4.6B | 0 | |
| 2022-09-30 | 699 | $4.1B | 0 | |
| 2022-06-30 | 707 | $4.8B | 0 | |
| 2022-03-31 | 700 | $6.1B | 0 | |
| 2021-12-31 | 744 | $5.3B | 0 | |
| 2021-09-30 | 675 | $3.8B | 0 | |
| 2021-06-30 | 766 | $4.5B | 100 | |
| 2021-03-31 | 730 | $5.3B | 56 | |
| 2020-12-31 | 713 | $4.2B | 55 | |
| 2020-09-30 | 614 | $2.9B | 35 | |
| 2020-06-30 | 511 | $2.9B | 45 | |
| 2020-03-31 | 434 | $2.1B | 46 | |
| 2019-12-31 | 466 | $2.3B | 45 | |
| 2019-09-30 | 489 | $1.6B | 47 | |
| 2019-06-30 | 458 | $1.9B | 40 | |
| 2019-03-31 | 447 | $1.7B | 40 | |
| 2018-12-31 | 459 | $1.6B | 42 | |
| 2018-09-30 | 472 | $2.0B | 30 | |
| 2018-06-30 | 457 | $1.9B | 35 | |
| 2018-03-31 | 440 | $1.8B | 24 | |
| 2017-12-31 | 460 | $1.6B | 44 | |
| 2017-09-30 | 420 | $1.2B | 18 | |
| 2017-06-30 | 422 | $1.2B | 21 | |
| 2017-03-31 | 417 | $1.1B | 68 | |
| 2016-12-31 | 374 | $705.7M | 8 | |
| 2016-09-30 | 467 | $740.5M | 31 | |
| 2016-06-30 | 693 | $835.7M | 20 | |
| 2016-03-31 | 446 | $835.2M | 26 | |
| 2015-12-31 | 323 | $862.9M | — |
Harel Insurance Investments & Financial Services Ltd.'s most significant position changes for 2026-03-31: Sold out: First Trst Nasd Cl Edg Sgiif (GRID); Sold out: Magic Software Enterprises (MGIC); Sold out: Fidelity Msci Info Tech Indx (FTEC); Sold out: Vanguard Communication Servi (VOX); Add: Apple INC (AAPL) — shares +552.48%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | AAPL | Apple INC | +3.2% | +552.48% | Add |
| 2 | XLI | Ss Industrial Select Sector | +3.1% | +3790.28% | Add |
| 3 | PANW | Palo Alto Networks INC | +2.8% | +1665.07% | Add |
| 4 | NVMI | Nova Ltd. | +2.2% | +47.47% | Add |
| 5 | NVDA | Nvidia CORP | +2% | +130.40% | Add |
| 6 | META | Meta Platforms Inc-class A | +1.6% | +268.18% | Add |
| 7 | SHLD | Global X Defense Tech ETF | +1.2% | +151.06% | Add |
| 8 | ESLT | Elbit Systems Ltd. | +1.1% | +206.10% | Add |
| 9 | LRCX | Lam Research CORP | +1% | +6106.47% | Add |
| 10 | MSFT | Microsoft CORP | +1% | +138.77% | Add |
| 11 | COST | Costco Wholesale CORP | +1% | +2431.97% | Add |
| 12 | WMT | Walmart INC | +0.9% | +1352.04% | Add |
| 13 | CAMT | Camtek Ltd. | +0.8% | +38.24% | Add |
| 14 | COPX | Global X Copper Miners ETF | +0.7% | +197.45% | Add |
| 15 | GOOGL | Alphabet Inc-cl A | +0.6% | +57.29% | Add |
| 16 | PAVE | Global X US Infrastructure | +0.5% | +43.26% | Add |
| 17 | VTV | Vanguard Value ETF | +0.3% | +1186.86% | Add |
| 18 | IAI | Ishares U.s. Broker-dealers | +0.2% | +53.57% | Add |
| 19 | AVGO | Broadcom INC | +0.2% | +61.38% | Add |
| 20 | ENLT | Enlight Renewable Energy Ltd | +0.2% | -0.79% | Trim |
| 21 | AMZN | Amazon.com INC | +0.2% | +50.30% | Add |
| 22 | MISL | First Trust Indxx Aero & Def | +0.2% | +41.18% | Add |
| 23 | DXJ | Wisdomtree Japan Hedged Eq | +0.1% | +527.69% | Add |
| 24 | ORCL | Oracle CORP | +0.1% | +109.15% | Add |
| 25 | GE | General Electric | +0.1% | +44.54% | Add |
| 26 | SEDG 2.25 07-01-29 | Solar Edge Technologies | +0.1% | — | Unchanged |
| 27 | ORA | Ormat Technologies INC | 0% | +32.66% | Add |
| 28 | TSM | Taiwan Semiconductor-sp Adr | 0% | +15.21% | Add |
| 29 | TSEM | Tower Semiconductor Ltd. | 0% | -14.16% | Trim |
| 30 | SNOW | Snowflake INC | -0.1% | +76.85% | Add |
| 31 | GS | Goldman Sachs Group INC | -0.1% | +26.99% | Add |
| 32 | HON | Honeywell International INC | -0.1% | +0.03% | Add |
| 33 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | -0.2% | -56.85% | Trim |
| 34 | GLBE | Global-E Online Ltd. | -0.3% | — | Unchanged |
| 35 | JPM | Jpmorgan Chase & Co | -0.4% | -85.84% | Trim |
| 36 | BAC | Bank Of America CORP | -0.6% | -91.21% | Trim |
| 37 | EPI | Wisdomtree India Earnings | -0.6% | -95.93% | Trim |
| 38 | VGT | Vanguard Info Tech ETF | -0.8% | -9.41% | Trim |
| 39 | SNPS | Synopsys INC | -0.8% | -99.56% | Trim |
| 40 | XLC | Ss Comm Select Sector Spdr | -0.9% | -97.71% | Trim |
| 41 | XLY | Ss Consumer Disc Select Sect | -1.7% | -49.76% | Trim |
| 42 | XLU | St Sr Utl Sl Se Spdr Etf-usd | -2.1% | -89.14% | Trim |
| 43 | XLK | Ss Technology Select Sector | -2.4% | -51.28% | Trim |
| 44 | SMH | Vaneck Semiconductor ETF | -2.4% | -55.44% | Trim |
| 45 | TEVA | Teva Pharmaceutical-sp Adr | -2.8% | +2.24% | Add |
| 46 | XLV | Ss Health Care Select Sector | -2.8% | -32.81% | Trim |
| 47 | GRID | First Trst Nasd Cl Edg Sgiif | — | EXIT | Sold out |
| 48 | MGIC | Magic Software Enterprises | — | EXIT | Sold out |
| 49 | FTEC | Fidelity Msci Info Tech Indx | — | EXIT | Sold out |
| 50 | VOX | Vanguard Communication Servi | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-05 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-03 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-29 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-05 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-04-29 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-21 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-15 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-22 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-30 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-30 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-30 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-07-17 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-02 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-01-26 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-10-31 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-07-19 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-03 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-07 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-10-25 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-07-26 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-27 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-01-26 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-10-20 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-28 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-01-23 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-06 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-22 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-04-18 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-01-29 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-29 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-07-30 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-04-30 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-01 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-02 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-02 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-08 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-06 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-03 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-02 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-03-17 | Amendment | View on EDGAR |
| 2015-12-31 | 2016-02-16 | 13F-HR | View on EDGAR |
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