Selling at the top? Insider TASE stock sales break records

Although there are five months to go before the end of 2025, there is a really clear one thing: it is a record year for shares to be achieved by those who are familiar with Tel Aviv Stock Presations. According to the numbers of “Globes”, during the year until now, the parties to the companies traded in the local stock market sold shares of more than 9 billion New, or nearly the total of 2024.

The wave of sales reached its peak in June, when the informed sold shares of more than 6 billion New, against the background of the euphoria that raised the local stock market after the clear success of the war with Iran. Large sales were previously recorded in January.

The Tel Aviv 35 index has increased by 26 % so far this year, and 47 % in the past twelve months. Some sectoral indicators, especially those related to the banks of the Banking Company and the Insurance Company, increased more.

Adult shareholders in a variety of companies sold, in financing, real estate, industry, and energy, parts of their property, while on the one hand, the buyer are the hungry financial institutions of high -quality local shares.

Energy and defense

The highest list of sellers this year is Aaron Frenkel, who got approximately 2 billion NIS. In January, he sold the shares of the Bank Leumi for 1.4 billion NIS, and in June he completed another major investigation when he sold part of his holdings in the Tamar Gas tank to Azerbaijan Oil Company (SOCAR). Part of the deal was selling shares at the listed Tamar Petroleum company, for 520 million New.

After Frenkel for the value of the sale that was sold, Zohar Levy, which, through Summit Real Estate Holdings, which is controlled by selling its 16 % stake in Paz Oil Company Paz Paz for 1.1 billion NIS (including options). Another big seller is the Manikay Partners, headed by Shin Veneimor, the largest contributor to the Tel Aviv Stock Exchange itself. In two phases, the fund sold shares on the stock exchange for 730 million New, which gave it a great gain.

In fourth place, there are private stock opportunities, headed by Ishi David. Since the beginning of the year, the company has sold shares in four defense companies – Ashot Ashkelon, Orbit, Tat Technologies and PCB – to make the total 700 million NIS. In all, Fimi has registered a gain from some billions NIS for its investments in these four companies.

Another senior seller was Shlomo Elihau, who controls the insurance company Megdal. To date this year, Eliahu has sold Migdal shares of up to 440 million NIS, amid a 60 % increase in the company’s share price in this period that gave him a profit on the 4 billion NIS paper for his investments in the insurance group. Also prominent is the shareholders who dominated the construction company Ammam Avraham, the brotherhood Alon and Muram Ammam, who sold 10 % of the company for 300 million New.

Have these familiar with the peak, which highlights the end of the bull market? When talking to local investment managers, we did not receive a clear answer, although everyone agrees that the stock market in Tel Aviv is not cheap.

“In the end, you should remember the point that we came from. After 2022, which was a difficult year for the markets, the Judicial Reform Program came in 2023 and the war in 2024. record records of approximately three -year records did not have the great ready -made plasma capacity for professionals,” says Yotav Costica, Joint CEO and chief economist in more investment funds.

From September 2024 up, the stock market has formed the gap that was opened in previous years very quickly, so we see many people who sell holdings now. This is usually a good signal for markets, and seeing the informed sells property one by one.

Costtec adds that despite the great rise, he still sees stock prices reasonable, even if it is not cheap. “We have returned to fair prices compared to the world. Companies now need to continue to deliver goods. That is, Israel needs to continue to show economic power, and Israeli consumers need to continue consumption, and super technology must continue to be the economy of the economy.

“There is no doubt that, at this point, pricing is no longer cheap, but there are still interesting stories for the future. We can expect to see the second strong quarter of banks and insurance companies, and in other sectors in which the financial statements will be very good, but the prices are already just fair.”

Lior Yochpaz, chief investment employee at Menora Mivtachim, believes that financial institutions and parties of interest to companies see their investments from a different point of view. “I, as a financial institution, go to investing in a public company when it is built, good, high quality, and after it has been placed in its form. In bad periods, shareholders go to companies control, repair, and restructure their business. The stock market in Israel is in a good place.

“Our view of our stocks of stocks in Israel is very similar to the private stock portfolio. Individuals buy with the goal of getting 10-15 % on shares; the highest share price is raised through a lot of the fact of investing in that. Therefore, these prices are what do not look at these prices in prices.

“The largest sales this year were in the financial sector, as there was also the most increase in the market,” says ITay Lipkovitz, CEO of Horizon Capital Markets.

“Controls in Megdal, Harrell and Metafe sold shares of hundreds of millions of Shekel, and this is a natural step in light of the sharp rise in shares, and its rates, for example, Yar Hamburger, which sold the shares in Harril, has done this in 18. P/E and the average price to the percentage of books 1.”

It was published by Globes, Israel Business News – En.globes.co.il – on July 28, 2025.

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