<SEC-DOCUMENT>0001178913-26-002378.txt : 20260505
<SEC-HEADER>0001178913-26-002378.hdr.sgml : 20260505
<ACCEPTANCE-DATETIME>20260505062157
ACCESSION NUMBER:		0001178913-26-002378
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20260505
DATE AS OF CHANGE:		20260505

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FORMULA SYSTEMS (1985) LTD
		CENTRAL INDEX KEY:			0001045986
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
		ORGANIZATION NAME:           	06 Technology
		EIN:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-56313
		FILM NUMBER:		26940252

	BUSINESS ADDRESS:	
		STREET 1:		YAHADUT CANADA 1 ST.
		CITY:			OR YEHUDA
		STATE:			L3
		ZIP:			6037501
		BUSINESS PHONE:		972-3-538-9474

	MAIL ADDRESS:	
		STREET 1:		YAHADUT CANADA 1 ST.
		CITY:			OR YEHUDA
		STATE:			L3
		ZIP:			6037501

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

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Harel Insurance Investments & Financial Services Ltd.
		CENTRAL INDEX KEY:			0001429390
		ORGANIZATION NAME:           	
		EIN:				981676531
		FISCAL YEAR END:			1231
		LEGAL ENTITY IDENTIFIER:    	213800BDNN3W11SXXD60

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		HAREL HOUSE, 3 ABBA HILLEL ST.
		CITY:			RAMAT GAN
		PROVINCE COUNTRY:   	L3
		ZIP:			52118
		BUSINESS PHONE:		972-3-7547090

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		HAREL HOUSE, 3 ABBA HILLEL ST.
		CITY:			RAMAT GAN
		PROVINCE COUNTRY:   	L3
		ZIP:			52118
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0202</schemaVersion>
<headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0001178913-26-000330</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Harel Insurance Investments & Financial Services Ltd. -->
          <cik>0001429390</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>


    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>7</amendmentNo>
      <securitiesClassTitle>American Depositary Shares, each representing one Ordinary Share, NIS 1 par value</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>03/31/2026</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001045986</issuerCik>
        <issuerName>FORMULA SYSTEMS (1985) LTD.</issuerName>
        <issuerCusips>
          <issuerCusipNumber>346414105</issuerCusipNumber>
        </issuerCusips>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>Yahadut Canada 1 Street</com:street1>
          <com:city>Or Yehuda</com:city>
          <com:stateOrCountry>L3</com:stateOrCountry>
          <com:zipCode>6037501</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Harel Insurance Investments &amp; Financial Services Ltd.</reportingPersonName>
      <citizenshipOrOrganization>L3</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>913042.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>919456.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>919456.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>6.0</classPercent>
      <typeOfReportingPerson>CO</typeOfReportingPerson>
      <comments>* With regard to the date of event that requires filing, see the explanatory note in Item 4.

With regard to Rows (6), (8) and (9), please see Item 4.

Row (11) is based on 15,332,667 Ordinary Shares issued and outstanding as of June 30, 2025 (as reported by the Issuer in Exhibit 99.1 to its Report on Form 6-K filed with the Securities and Exchange Commission on July 22, 2025).</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>FORMULA SYSTEMS (1985) LTD.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>Yahadut Canada 1 Street, Or Yehuda 1, Israel, 603750</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Harel Insurance Investments &amp; Financial Services Ltd.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>3 Aba Hillel Street, Ramat Gan 52118, Israel</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Israel</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>Of the 919,456 Ordinary Shares reported in this Statement as beneficially owned by the Reporting Person, (i) 912,598 Ordinary Shares are held for members of the public through, among others, provident funds and/or mutual funds and/or pension funds and/or insurance policies and/or exchange traded funds, which are managed by subsidiaries of the Reporting Person, each of which subsidiaries operates under independent management and makes independent voting and investment decisions, (ii) 6,414 Ordinary Shares are held by third-party client accounts managed by a subsidiary of the Reporting Person as portfolio managers, which subsidiary operates under independent management and makes independent investment decisions and has no voting power in the securities held in such client accounts, and (iii) 444 Ordinary Shares are beneficially held for its own account. Consequently, this Statement shall not be construed as an admission by the Reporting Person that it is the beneficial owner of more than 444 Ordinary Shares covered by this Statement.</amountBeneficiallyOwned>
        <classPercent>See Row (11) of the cover page of the Reporting Person above.</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>0</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>See Row (6) of the cover page of the Reporting Person above and note in Item 4 above.</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>0</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>See Row (8) of the cover page of the Reporting Person above and note in Item 4 above</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>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, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Harel Insurance Investments &amp; Financial Services Ltd.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Alon Kaufman</signature>
        <title>Alon Kaufman/Vice President</title>
        <date>05/04/2026</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
