Phoenix Financial Ltd. Increases Stake in Tower Semiconductor Ltd to 5.01%

On June 9, 2026, Phoenix Financial Ltd. filed a Schedule 13G with the SEC, reporting a significant increase in its stake in Tower Semiconductor Ltd (TSEM). As of the event date on June 5, 2026, the Israeli-based financial group disclosed beneficial ownership of 5,654,349.46 ordinary shares, representing 5.01% of the company's outstanding shares. This marks a notable increase from its previously reported position of 3,390,687 shares. The holdings are managed through various subsidiaries, including Phoenix Investments House trust funds, pension and provident funds, and insurance policies. The largest single portion of the holding, approximately 3.09%, is held via a partnership for Israeli shares. Phoenix Financial Ltd. specified that each subsidiary operates under independent management and makes its own investment decisions. The filing was made under Rule 13d-1(c), indicating a passive investment intent, with the reporting person certifying that the shares were not acquired to influence or change the control of the issuer.