After the huge outflow of funds from investment house Altshuler Shaham (TASE: ALTF) and the collapse of the stock, which did not even benefit from the huge gains of financial stocks on the TASE in the past two years, the owners of the investment house, Gilad Altshuler and Kelman Shaham, are considering selling their shares..
The investment house declines to officially comment on the matter and has not notified the TASE, even though the company's share price is currently 10% higher in trading, giving a market cap of NIS 1.5 billion.
Nevertheless, a source familiar with the details tells Globes that the issue is on the table.
Altshuler and the Shaham family hold 55% of the shares of the public company (Altshuler Shaham Finance) worth NIS 855 million, and CEO Yair Levinstein holds an additional 15% of the company's shares worth NIS 230 million.
Altshuler Shaham Finance focuses mainly on long-term savings activities. In the provident fund sector it currently manages NIS 109 billion and in pensions it manages another NIS 37 billion. This sector constitutes 92% of the company's revenue.
The company also has two other small and relatively new activities. Credit activities for small businesses and support for construction projects, as well as alternative investment activities mainly in the real estate sector.
Additional activities are held under the owner's private company, and include mutual funds, investment portfolio management, stock exchange membership, the cryptocurrency sector, trading accounts for independent trading, and more.
Nearly a year ago, the owners wanted to promote the integration of private activity within the public company, but the move has not been implemented to date.
In Altshuler Shaham's heyday, the stock traded at a market cap of NIS 4.5 billion. However, those days now seem like a distant dream that ended in 2021. Since then, the great weakness in returns (despite good returns in recent months, including expectations of a strong return in August), has led to a collapse in assets under management.
The investment house managed NIS 215 billion in the provident sector at its peak. Today, it manages only NIS 109 billion. In the meantime, funds amounting to NIS 142 billion in provident funds alone have abandoned it. The company's stock has crashed by more than 60%.
Published by Globes, Israel business news - en.globes.co.il - on September 8, 2026.
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