Mivtachim the Workers Social Insurance Fund LTD. (under Special Management)
Mivtachim The Workers Social Insurance Fund Ltd. (Under Special Management) is a major pension and provident fund headquartered in Tel Aviv, Israel. It operates under special management, appointed by law, as part of the wider Amitim Senior Pension Funds structure. The fund was created to serve Israel’s senior public pension market, primarily benefiting former workers by managing pension and social insurance assets. It is regulated under the Israeli Supervisor of Capital Markets, Insurance and Savings, managing funds for retirees and other beneficiaries. Founded during the privatization of pension arrangements in the Israeli public sector, Amitim—and Mivtachim as one of its main funds—acts as both asset manager and pension fund.
Investment Strategy
The fund primarily invests in diversified global equities and fixed-income assets, with a strong concentration in ETFs tracking broad market indices, technology, real estate, financials, and other sectors. Mivtachim rebalances actively, seeking sector exposure and risk-adjusted returns suitable for long-term pension obligations. The investment approach includes allocations to large-cap US equities (such as the S&P 500 via ETFs), real estate, financial services, technology, and emerging market equities. Portfolio turnover and active management are notable features, with about 46% turnover per quarter, and a focus on maintaining stability and meeting liability requirements for retirees.
Top Holdings
Equity Positions (31)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
X XLK | SELECT SECTOR SPDR TR | 13.88% | $90.1M | 355,800 | $206.38 | $253.23 | +$38.3M |
S SPY | SPDR S&P 500 ETF TR TR | 12.80% | $83.1M | 134,556 | $373.49 | $617.85 | +$7.8M |
V VOO | VANGUARD INDEX FDS | 8.22% | $53.4M | 94,007 | $422.74 | $568.03 | +$6.8M |
N NVMI | NOVA LTD | 6.06% | $39.3M | 142,865 | $121.63 | $275.20 | +$13.0M |
T TSEM | TOWER SEMICONDUCTOR LTD | 5.45% | $35.4M | 816,334 | $35.66 | $43.35 | +$2.2M |