<SEC-DOCUMENT>0001178913-20-000488.txt : 20200218
<SEC-HEADER>0001178913-20-000488.hdr.sgml : 20200218
<ACCEPTANCE-DATETIME>20200218060631
ACCESSION NUMBER:		0001178913-20-000488
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20200218
DATE AS OF CHANGE:		20200218

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FORMULA SYSTEMS (1985) LTD
		CENTRAL INDEX KEY:			0001045986
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-56313
		FILM NUMBER:		20623216

	BUSINESS ADDRESS:	
		STREET 1:		5 HAPLADA ST.
		CITY:			OR YEHUDA
		STATE:			L3
		ZIP:			6021805
		BUSINESS PHONE:		011-972-3-538-9487

	MAIL ADDRESS:	
		STREET 1:		5 HAPLADA ST.
		CITY:			OR YEHUDA
		STATE:			L3
		ZIP:			6021805

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FORMULA SYSTEMS \1985\ LTD
		DATE OF NAME CHANGE:	19970911

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Psagot Investment House Ltd.
		CENTRAL INDEX KEY:			0001468428
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		AHAD HAAM 14
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			65142
		BUSINESS PHONE:		972-3-7968806

	MAIL ADDRESS:	
		STREET 1:		AHAD HAAM 14
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			65142
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>zk2024026.htm
<DESCRIPTION>SC 13G/A
<TEXT>
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    <div style="FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 1.25">UNITED STATES</div>
    <div style="TEXT-ALIGN: center; FONT: bold 14pt/1.25 'Times New Roman', Times, serif">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="font-weight: bold; text-align: center; line-height: 1.25;">Washington, D.C.&#160; 20549</div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="TEXT-ALIGN: center; FONT: bold 14pt/1.25 'Times New Roman', Times, serif">SCHEDULE 13G</div>
    <div style="font-weight: bold; text-align: center; line-height: 1.25;">(Rule 13d-102)</div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="font-weight: bold; text-align: center; line-height: 1.25;">INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT</div>
    <div style="font-weight: bold; text-align: center; line-height: 1.25;">TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED</div>
    <div style="font-weight: bold; text-align: center; line-height: 1.25;">PURSUANT TO RULE 13d-2</div>
    <div style="font-weight: bold; text-align: center; line-height: 1.25;">UNDER THE SECURITIES EXCHANGE ACT OF 1934</div>
    <div style="font-weight: bold; text-align: center; line-height: 1.25;">(Amendment No. 4)*</div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="TEXT-ALIGN: center; FONT: bold 16pt/1.25 'Times New Roman', Times, serif"><u>Formula Systems (1985)&#160; LTD</u></div>
    <div style="font-weight: bold; text-align: center; line-height: 1.25;">(Name of Issuer)</div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="text-align: center; line-height: 1.25;"><u>Common Stock</u></div>
    <div style="font-weight: bold; text-align: center; line-height: 1.25;">(Title of Class of Securities)</div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="text-align: center; line-height: 1.25;"><u>346414105</u></div>
    <div style="font-weight: bold; text-align: center; line-height: 1.25;">(CUSIP Number)</div>
    <div style="LINE-HEIGHT: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25;">
      <div id="DSPFPageHeader"></div>
      <div style="font-family: 'Times New Roman',Times,serif; line-height: 1.25;"><u>December </u><u>31, 2019</u></div>
      (Date of Event Which Requires Filing of this Statement)</div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="text-align: left; line-height: 1.25;">Check the appropriate box to designate the rule pursuant to which this Schedule is filed:</div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="text-align: left; line-height: 1.25; text-indent: 36pt;">&#9744;&#160;Rule 13d-1(b)</div>
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    </div>
    <div style="text-align: left; line-height: 1.25; text-indent: 36pt;">&#9746; Rule 13d-1(c)</div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="text-align: left; line-height: 1.25; text-indent: 36pt;">&#9744;&#160;Rule 13d-1(d)</div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="text-align: justify; line-height: 1.25;">*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing
      information which would alter the disclosures provided in a prior cover page.</div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="text-align: justify; line-height: 1.25;">The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the <font style="font-style: italic;">Securities Exchange Act</font>
      of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).</div>
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              <div style="text-align: center; line-height: 1.25;"><font style="font-weight: bold;">CUSIP No.</font><u>&#160;</u><u>346414105</u></div>
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            <td style="VERTICAL-ALIGN: top; WIDTH: 38.15%">
              <div style="font-weight: bold; text-align: center; line-height: 1.25;">13G</div>
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            <td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; VERTICAL-ALIGN: top; BORDER-LEFT: #000000 2px solid; WIDTH: 28.11%">
              <div style="font-weight: bold; text-align: left; line-height: 1.25;">Page 2 of&#160;7 Pages</div>
            </td>
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              <div style="FONT-SIZE: 18pt">1</div>
            </td>
            <td style="BORDER-TOP: #000000 1pt solid; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; BORDER-LEFT: #000000 1pt solid; WIDTH: 89.86%" colspan="3">
              <div style="TEXT-ALIGN: left">NAMES OF REPORTING PERSONS</div>
            </td>
            <td style="BORDER-TOP: #000000 1pt solid; VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-TOP: #000000 1pt solid; BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 89.86%" rowspan="2" colspan="3">
              <div style="text-align: left; line-height: 1.25; margin-right: 30pt;">&#160;</div>
              <div style="text-align: left; line-height: 1.25; margin-right: 30pt;">Psagot Investment House Ltd.</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt">2</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; BORDER-LEFT: #000000 1pt solid; WIDTH: 89.86%" colspan="3">
              <div style="TEXT-ALIGN: left">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See instructions)</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">&#160;</td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: middle; WIDTH: 1.74%">&#160;</td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-LEFT: #000000 1pt solid; WIDTH: 89.86%" colspan="3">
              <div style="TEXT-ALIGN: left">&#160; (a)<font style="FONT-FAMILY: 'Times New Roman'">&#9744;</font></div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">&#160;</td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: middle; WIDTH: 1.74%">&#160;</td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 89.86%" colspan="3">
              <div style="TEXT-ALIGN: left">&#160; (b)<font style="FONT-FAMILY: ''Times New Roman''">&#9744;</font></div>
            </td>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
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          <tr>
            <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt">3</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; BORDER-LEFT: #000000 1pt solid; WIDTH: 89.86%; BACKGROUND-COLOR: #bfbfbf" colspan="3">
              <div style="TEXT-ALIGN: left">SEC USE ONLY</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%; BACKGROUND-COLOR: #bfbfbf">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%; BACKGROUND-COLOR: #bfbfbf">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr style="BACKGROUND-COLOR: #bfbfbf">
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 89.86%" rowspan="2" colspan="3">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr style="BACKGROUND-COLOR: #bfbfbf">
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt">4</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; BORDER-LEFT: #000000 1pt solid; WIDTH: 89.86%" colspan="3">
              <div style="TEXT-ALIGN: left">CITIZENSHIP OR PLACE OF ORGANIZATION</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 89.86%" rowspan="2" colspan="3">
              <div style="TEXT-ALIGN: left">
                <div style="line-height: 1.25; margin-right: 30pt;">&#160;</div>
                <div style="line-height: 1.25; margin-right: 30pt;">Israel</div>
              </div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr style="HEIGHT: 17px">
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; FONT-WEIGHT: normal; BORDER-LEFT: #000000 1pt solid; WIDTH: 12.71%" rowspan="12" colspan="2">
              <div style="TEXT-ALIGN: center">NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH</div>
            </td>
            <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt">5</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; BORDER-LEFT: #000000 1pt solid; WIDTH: 80.18%">
              <div style="TEXT-ALIGN: left">SOLE VOTING POWER</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 80.18%" rowspan="2">
              <div style="TEXT-ALIGN: left">
                <div style="line-height: 1.25; margin-right: 30pt;">&#160;</div>
                <div style="line-height: 1.25; margin-right: 30pt;">---</div>
              </div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt">6</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; BORDER-LEFT: #000000 1pt solid; WIDTH: 80.18%">
              <div style="TEXT-ALIGN: left">SHARED VOTING POWER</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 80.18%" rowspan="2">
              <div style="TEXT-ALIGN: left">&#160;</div>
              <div style="text-align: left; line-height: 1.25;">
                <div id="DSPFPageHeader"></div>
                <div style="line-height: 1.25;">
                  <div id="DSPFPageHeader"></div>
                  <div style="line-height: 1.25;">
                    <div style="line-height: 1.25;">481,279 (*)</div>
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                </div>
              </div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt">7</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; BORDER-LEFT: #000000 1pt solid; WIDTH: 80.18%">
              <div style="TEXT-ALIGN: left">SOLE DISPOSITIVE POWER</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 80.18%" rowspan="2">
              <div style="LINE-HEIGHT: 1.25">&#160;</div>
              <div style="text-align: left; line-height: 1.25; margin-right: 30pt;">---</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
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            <td style="VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; BORDER-LEFT: #000000 1pt solid; WIDTH: 80.18%">
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            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
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            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
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          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 80.18%" rowspan="2">
              <div style="TEXT-ALIGN: left">
                <div style="line-height: 1.25; margin-right: 30pt;">&#160;</div>
                <div style="line-height: 1.25; margin-right: 30pt;">
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                  <div style="line-height: 1.25;">
                    <div style="line-height: 1.25;">675,756 (*)</div>
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                </div>
              </div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
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              <div style="TEXT-ALIGN: left">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
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              <div style="TEXT-ALIGN: left">&#160;</div>
              <div style="text-align: left; line-height: 1.25; margin-right: 30pt;">
                <div id="DSPFPageHeader"></div>
                <div style="line-height: 1.25;">
                  <div style="line-height: 1.25;">675,756 (*)</div>
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            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt">10</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; BORDER-LEFT: #000000 1pt solid; WIDTH: 89.86%" colspan="3">
              <div style="TEXT-ALIGN: left">CHECK IF THE AGGREGATE AMOUNT IN ROW (9)&#160;EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: middle; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; WIDTH: 89.86%" rowspan="2" colspan="3">
              <div style="FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;</div>
              <div style="FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#9744;</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt">11</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; BORDER-LEFT: #000000 1pt solid; WIDTH: 89.86%" colspan="3">
              <div style="TEXT-ALIGN: left">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 89.86%" rowspan="2" colspan="3">
              <div style="TEXT-ALIGN: left">&#160;</div>
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                <div id="DSPFPageHeader"></div>
                <div style="line-height: 1.25;">
                  <div style="line-height: 1.25;">4.42% (*) (**)</div>
                </div>
              </div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; BORDER-LEFT: #000000 1pt solid; WIDTH: 6.36%" rowspan="3">
              <div style="FONT-SIZE: 18pt">12</div>
            </td>
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              <div style="TEXT-ALIGN: left">TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; PADDING-LEFT: 2pt; BORDER-LEFT: #000000 1pt solid; WIDTH: 89.86%" rowspan="2" colspan="3">
              <div style="TEXT-ALIGN: left">&#160;</div>
              <div style="text-align: left; line-height: 1.25; margin-right: 30pt;">CO</div>
            </td>
            <td style="VERTICAL-ALIGN: middle; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 2.05%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
            <td style="BORDER-RIGHT: #000000 1pt solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1pt solid; WIDTH: 1.74%">
              <div style="TEXT-ALIGN: left">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: left; line-height: 1.25;">&#160;</div>
    <div style="text-align: left; line-height: 1.25;">(*) The securities reported herein are beneficially owned by portfolio accounts managed by Psagot Securities Ltd., Psagot Exchange Traded Notes Ltd., mutual funds managed by Psagot Mutual Funds Ltd.,
      provident funds and pension funds managed by Psagot Provident Funds and Pension Ltd. Each of Psagot Securities Ltd., Psagot Exchange Traded Notes Ltd., Psagot Mutual Funds Ltd., Psagot Provident Funds and Pension Ltd. (the "Subsidiaries") is a
      wholly-owned subsidiary of Psagot Investment House Ltd.&#160; The Subsidiaries operate under independent management and make their own independent voting and investment decisions.&#160; Any economic interest or beneficial ownership in any of the securities
      covered by this report is held for the benefit of the owners of portfolio accounts, the holders of the exchange-traded notes, or for the benefit of the members of the mutual funds, provident funds, or pension funds, as the case may be.&#160; This
      Statement shall not be construed as an admission by Psagot Investment House Ltd. or by any of&#160; the Subsidiaries that it is the beneficial owner of any of the securities covered by this Statement, and each of&#160; Psagot Investment House Ltd. and the
      Subsidiaries disclaims beneficial ownership of any such securities.</div>
    <div style="text-align: left; line-height: 1.25;">&#160;</div>
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      <div style="line-height: 1.25;">
        <div style="line-height: 1.25;">(**) Based on 15,294,267 shares of common stock outstanding as of&#160; December 31, 2019 (as reported on Bloomberg LP</div>
      </div>
    </div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
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      <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">2</font></div>
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    </div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25"><font style="font-weight: bold;">Item 1.</font> (a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Name of Issuer</u>:</div>
    <div style="LINE-HEIGHT: 1.25">&#160;</div>
    <div style="LINE-HEIGHT: 1.25">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Formula Systems (1985) LTD</div>
    <div style="LINE-HEIGHT: 1.25">&#160;</div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
      <table id="z2f9fb4d70c0749deb1f939c2455b462a" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: top; width: 78pt; align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)</td>
            <td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">
              <div><u>Address of Issuer's Principal Executive Offices</u>:</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="text-align: left; margin-left: 78pt; line-height: 1.25; text-indent: -78pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;Or-Yehuda ,Israel</div>
    <div style="LINE-HEIGHT: 1.25">&#160;</div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
      <table id="z7cf703645b924155b7438d26f24bee25" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellpadding="0" cellspacing="0">

          <tr>
            <td style="VERTICAL-ALIGN: top; WIDTH: 78pt; align: right"><font style="font-weight: bold;">Item 2.</font> (a)</td>
            <td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">
              <div><u>Name of Person Filing</u>:</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">&#160;</div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
      <table id="z6b5799dd40f5419e87638fedf04b664c" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellpadding="0" cellspacing="0">

          <tr>
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            <td style="vertical-align: top; width: 13.6pt; align: right;">1.</td>
            <td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">
              <div>Psagot Investment House Ltd.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="LINE-HEIGHT: 1.25">&#160;</div>
    <div style="text-align: left; line-height: 1.25;">
      <div style="margin-left: 78pt; line-height: 1.25; text-indent: 0pt;">The securities reported herein are beneficially owned as follows:</div>
      <br>
      <div style="line-height: 1.25;">
        <div>
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              <tr>
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                </td>
                <td style="width: 21.25pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div>194,477 shares (representing 1.27% of the total shares of ordinary shares outstanding) beneficially owned by portfolio accounts managed by Psagot Securities Ltd.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="line-height: 1.25;">
        <div>
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              <tr>
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                </td>
                <td style="width: 21.25pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div>169,729 shares (representing 1.11%&#160;of the total shares of ordinary shares outstanding) beneficially owned by mutual funds managed by Psagot Mutual Funds Ltd.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="line-height: 1.25;">
        <div>
          <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z77bb92ffecd5459087ee287261c3a4bf" cellpadding="0" cellspacing="0">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 21.25pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div>311,550&#160;shares (representing 2.04% of the total shares of ordinary shares outstanding) beneficially owned by provident funds and pension funds managed by Psagot Provident Funds and Pension Ltd.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <br>
    </div>
    <div style="text-align: left; margin-left: 78pt; line-height: 1.25;">Each of the Subsidiaries is a wholly-owned subsidiary of Psagot Investment House Ltd.</div>
    <div style="LINE-HEIGHT: 1.25">&#160;</div>
    <div style="text-align: left; line-height: 1.25; text-indent: 45.8pt;">(b)&#160;&#160;&#160; &#160;&#160; &#160; <u>Address of Principal Business Office</u>:</div>
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    </div>
    <div style="text-align: left; margin-left: 78pt; line-height: 1.25; text-indent: 0pt;">Psagot Investment House Ltd. - 14 Ahad Ha'am Street, Tel Aviv 6514211, Israel.</div>
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    </div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
      <table id="zd16cdcdf0ce54f52977499ce7ee81bb8" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellpadding="0" cellspacing="0">

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            <td style="WIDTH: 45.8pt"></td>
            <td style="vertical-align: top; width: 32.2pt; align: right;">(c)</td>
            <td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">
              <div><u>Citizenship</u>:</div>
            </td>
          </tr>

      </table>
    </div>
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    </div>
    <div style="text-align: left; margin-left: 78pt; line-height: 1.25; text-indent: 0pt;">Psagot Investment House Ltd. &#8211; Israel</div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
      <table id="z551bd7780fd54228b279ce2053844b29" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellpadding="0" cellspacing="0">

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            <td style="WIDTH: 45.8pt"></td>
            <td style="vertical-align: top; width: 32.2pt; align: right;">(d)</td>
            <td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">
              <div><u>Title of Class of Securities</u>:</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="text-align: left; line-height: 1.25;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Common Stock, par value $0.001 per share</div>
    <div style="LINE-HEIGHT: 1.25">&#160;</div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
      <table id="z23a89d55997d425a882998e9ec27de23" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellpadding="0" cellspacing="0">

          <tr>
            <td style="WIDTH: 45.75pt"></td>
            <td style="vertical-align: top; width: 32.25pt; align: right;">(e)</td>
            <td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">
              <div><u>CUSIP Number</u>:</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="text-align: left; line-height: 1.25;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;346414105</div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
      <div id="DSPFPageNumberArea" style="TEXT-ALIGN: center"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">3</font></div>
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        <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; WIDTH: 100%; BACKGROUND-COLOR: #000000" noshade="noshade"> </div>
    </div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
      <table id="z9c43e24516674299a53d3eb75a49d5ce" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellpadding="0" cellspacing="0">

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            <td style="VERTICAL-ALIGN: top; WIDTH: 78pt; align: right"><font style="font-weight: bold;">Item 3</font>.</td>
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              <div>N.A.</div>
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      </table>
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    <div style="LINE-HEIGHT: 1.25">&#160;</div>
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          <tr>
            <td style="VERTICAL-ALIGN: top; WIDTH: 78pt; align: right"><font style="font-weight: bold;">Item 4</font>.</td>
            <td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">
              <div><u>Ownership</u>:</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
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          <tr>
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            <td style="vertical-align: top; width: 35.45pt; align: right;">(a)</td>
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              <div><u>Amount beneficially owned</u>:</div>
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      </table>
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    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="text-align: left; margin-left: 78pt; line-height: 1.25; text-indent: 0pt;">See row 9 of cover page of each reporting person.</div>
    <div style="text-align: left; margin-left: 78pt; line-height: 1.25; text-indent: 0pt;">&#160;</div>
    <div style="text-align: left; margin-left: 78pt; line-height: 1.25; text-indent: 0pt;">The Subsidiaries operate under independent management and make&#160;their own independent voting and investment decisions.&#160; Any economic interest or beneficial ownership
      in any of the securities covered by this report is held for the benefit of owners of the portfolio accounts, holders of the exchange-traded notes, or for the benefit of the members of the mutual funds, provident funds, or pension funds, as the case
      may be. This Statement shall not be construed as an admission by Psagot Investment House Ltd. or by any of the Subsidiaries that it is the beneficial owner of any of the securities covered by this Statement, and each of Psagot Investment House Ltd.
      and the Subsidiaries disclaims beneficial</div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">&#160;</div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
      <table id="z87c9a85e5e4a4642825303ba8955aee2" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellpadding="0" cellspacing="0">

          <tr>
            <td style="WIDTH: 42.55pt"></td>
            <td style="vertical-align: top; width: 35.25pt; align: right;">(b)</td>
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              <div><u>Percent of class</u>:</div>
            </td>
          </tr>

      </table>
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    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="text-align: left; margin-left: 78pt; line-height: 1.25; text-indent: 0pt;">See row 11 of cover page of each reporting person</div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
      <table id="zdc093e3233bf41c393377d7a1d5616df" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellpadding="0" cellspacing="0">

          <tr>
            <td style="WIDTH: 42.55pt"></td>
            <td style="vertical-align: top; width: 35.45pt; align: right;">(c)</td>
            <td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">
              <div><u>Number of shares as to which such person has</u>:</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
      <table id="z637aac109bbb4256bd570ab2fa7bcd8a" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellpadding="0" cellspacing="0">

          <tr>
            <td style="WIDTH: 77.8pt"></td>
            <td style="vertical-align: top; width: 28.55pt; align: right;">(i)</td>
            <td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">
              <div>Sole power to vote or to direct the vote:</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="text-align: left; line-height: 1.25; text-indent: 106.35pt;">See row 5 of cover page of each reporting person</div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
      <table id="zca05820307734013a1dde9bd4ab628a3" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellpadding="0" cellspacing="0">

          <tr>
            <td style="WIDTH: 77.8pt"></td>
            <td style="vertical-align: top; width: 28.55pt; align: right;">(ii)</td>
            <td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">
              <div>Shared power to vote or to direct the vote:</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="text-align: left; margin-left: 106.35pt; line-height: 1.25;">See row 6 of cover page of each reporting person and note in Item 4(a) above</div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
      <table id="zcf5d947cb3ce477484eb521e6675351f" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellpadding="0" cellspacing="0">

          <tr>
            <td style="WIDTH: 77.8pt"></td>
            <td style="vertical-align: top; width: 28.55pt; align: right;">(iii)</td>
            <td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">
              <div>Sole power to dispose or to direct the disposition of:</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="text-align: left; line-height: 1.25; text-indent: 106.35pt;">See row 7 of cover page of each reporting person</div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
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          <tr>
            <td style="WIDTH: 77.8pt"></td>
            <td style="vertical-align: top; width: 28.55pt; align: right;">(iv)</td>
            <td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">
              <div>Shared power to dispose or to direct the disposition of:</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="text-align: left; margin-left: 106.35pt; line-height: 1.25;">See row 8 of cover page of each reporting person and note in Item 4(a) above</div>
    <div style="LINE-HEIGHT: 1.25">&#160;</div>
    <div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
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    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
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          <tr>
            <td style="VERTICAL-ALIGN: top; WIDTH: 78pt; align: right"><font style="font-weight: bold;">Item 5</font>.</td>
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              <div><u>Ownership of Five Percent or Less of a Class</u>:</div>
            </td>
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    <br>
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      <div style="text-align: left; margin-left: 78pt; line-height: 1.25;">If&#160; this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be beneficial owner of more than 5 percent of the class of
        securities, check the following &#8999;.</div>
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    </div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
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          <tr>
            <td style="VERTICAL-ALIGN: top; WIDTH: 78pt; align: right"><font style="font-weight: bold;">Item 6</font>.</td>
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              <div><u>Ownership of More than Five Percent on Behalf of Another</u>:</div>
            </td>
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      </table>
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    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="text-align: left; margin-left: 78pt; line-height: 1.25;">N.A.</div>
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    </div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
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          <tr>
            <td style="VERTICAL-ALIGN: top; WIDTH: 78pt; align: right"><font style="font-weight: bold;">Item 7</font>.</td>
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              <div><u>Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person</u>:</div>
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      </table>
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    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
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    <div style="text-align: left; margin-left: 78pt; line-height: 1.25;">N.A.</div>
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    </div>
    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
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          <tr>
            <td style="VERTICAL-ALIGN: top; WIDTH: 78pt; align: right"><font style="font-weight: bold;">Item 8</font>.</td>
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              <div><u>Identification and Classification of Members of the Group</u>:</div>
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      </table>
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    <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
    </div>
    <div style="text-align: left; margin-left: 78pt; line-height: 1.25;">N.A.</div>
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    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
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          <tr>
            <td style="VERTICAL-ALIGN: top; WIDTH: 78pt; align: right"><font style="font-weight: bold;">Item 9</font>.</td>
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              <div><u>Notice of Dissolution of Group</u>:</div>
            </td>
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    <div style="text-align: left; margin-left: 78pt; line-height: 1.25;">N.A.</div>
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    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25"><font style="font-weight: bold;">Item 10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Certification</u>:</div>
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    <div style="text-align: left; line-height: 1.25; text-indent: 35.45pt;">By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect
      of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.</div>
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    <div style="font-weight: bold; text-align: center; line-height: 1.25;">SIGNATURE</div>
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    <div style="text-align: left; line-height: 1.25;">After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.</div>
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        <div style="line-height: 1.25;">February 16, 2020</div>
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        <tr>
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            <div style="text-align: left; line-height: 1.25;"><font style="font-weight: bold;">Psagot Investment House Ltd.</font><br>
              <br>
              <font style="font-variant: normal; font-weight: normal; font-style: normal;"><u>/s/ Shlomo Pasha</u></font></div>
            <div style="text-align: left; line-height: 1.25;">By: Shlomo Pasha*<br>
              Title: Senior Deputy C.E.O. C.F.O.</div>
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              <div style="text-align: left; line-height: 1.25;"><u>/s/ Idan Ben Naim</u></div>
              <div style="text-align: left; line-height: 1.25;">By: Idan Ben Naim *<br>
                Title: VP Head Of Legal Department</div>
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      <div style="text-align: justify; line-height: 1.25;">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">*Signature duly authorized by resolution of the Board of Directors.</div>
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    <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25"><font style="font-weight: bold;">EXHIBIT NO.&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-weight: bold;">DESCRIPTION</font></div>
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            <td style="vertical-align: top; width: 105px; align: right;">Exhibit 1</td>
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              <div style="margin-left: 56.7pt; line-height: 1.25; text-indent: -56.7pt;">Attorney's Certification dated February 16, 2020 certifying the signature authority of person(s) signing on behalf of Psagot Investment House Ltd.</div>
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    <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25">&#160;</div>
    <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25">7</div>
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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>exhibit_1.htm
<DESCRIPTION>EXHIBIT 1
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    <div style="TEXT-ALIGN: right; FONT: bold 10pt/1.25 'Times New Roman', Times, serif"><u>Exhibit 1</u></div>
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    <div style="TEXT-ALIGN: center; FONT: bold 12pt/1.25 'Times New Roman', Times, serif">Attorney's Certification</div>
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      <div style="line-height: 1.25;">I the undersigned, Lee-Tal Yakir, Psagot Investment
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            <td style="vertical-align: top; width: 18pt; align: right;">1.</td>
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              <div>The above composition of signatures is binding on Psagot Investment House Ltd. in respect of the attached report.</div>
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              <div>The above authorized signatories signed this document before me and were identified by me in person according to an identity card, as required by and in accordance
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            <td style="vertical-align: top; width: 18pt; align: right;">3.</td>
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              <div>The resolution concerning Psagot Investment House Ltd.'s authorized signatories was duly adopted, in accordance with Psagot Investment House Ltd.'s incorporation
                documents.</div>
            </td>
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    <div style="LINE-HEIGHT: 1.25">&#160;</div>
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              <div style="text-align: left; line-height: 1.25;"><u>February 16, 2020</u></div>
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              <div style="font-family: 'Times New Roman', Times, serif; text-align: left; line-height: 1.25;"><u>/s/ Lee-Tal Yakir</u></div>
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              <div>Date</div>
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                <div style="text-align: left; line-height: 1.25;">Lee-Tal Yakir, Adv.</div>
                <div style="text-align: left; line-height: 1.25;">Lic. No. 37140</div>
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              <div>Attorney (signature &amp; stamp)</div>
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