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Altshuler Shaham Ltd.
Gilad Altshuler · Asset Manager · Multi-Strategy
Altshuler Shaham Ltd. is a leading Israeli investment house established in 1990 by Gilad Altshuler and Kalman Shaham. Headquartered in Tel Aviv, the firm specializes in managing a comprehensive suite of financial products, including mutual funds, pension funds, provident funds, and discretionary investment portfolios. As one of the largest asset managers in Israel, it serves over two million clients and has a significant presence in the local savings market. The company is noted for its ability to integrate macroeconomic analysis with fundamental security selection across global markets. Through strategic acquisitions and a commitment to innovation, Altshuler Shaham has expanded its expertise into alternative investments and non-bank credit, maintaining its reputation for professional excellence and a stable, long-term approach to wealth management.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +26.9% |
| YTD return | +16.7% |
| Sharpe ratio | 4.27 |
| Win rate | 50% |
| AUM | $5.3B |
| Inception | Oct 1, 2025 |
| Updated | Sep 22, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $5.3B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.as-invest.co.il |
Current Holdings
Updated on Sep 22, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| TSM | Taiwan Semiconductor Manufacturing | 11.8% | +44.7% |
| TEVA | Teva Pharma Industries Ltd ADR | 8.6% | +47.7% |
| GOOGL | Alphabet Inc Class A | 8.3% | +20.6% |
| AAPL | Apple Inc | 8.3% | +10.7% |
| NVDA | NVIDIA Corporation | 8.1% | +4.2% |
| AMZN | Amazon.com Inc | 7.8% | +10.4% |
| ESLT | Elbit Systems Ltd | 6.6% | +30.2% |
| ENLT | Enlight Renewable Energy Ltd. Ordinary Shares | 5.5% | -18.9% |
| CSCO | Cisco Systems Inc | 4.0% | +25.3% |
| ORCL | Oracle Corporation | 3.5% | -21.6% |
| EXE | Expand Energy Corporation | 3.3% | -15.8% |
| BAC | Bank of America Corp | 3.1% | -12.5% |
| UBER | Uber Technologies Inc | 3.0% | -16.4% |
| ARM | Arm Holdings plc American Depositary Shares | 2.8% | +8.8% |
| WFC | Wells Fargo & Company | 2.7% | -6.4% |
| ADI | Analog Devices Inc | 2.7% | +0.5% |
| ICL | ICL Israel Chemicals Ltd | 2.6% | -2.7% |
| QCOM | Qualcomm Incorporated | 2.5% | +9.0% |
| RIO | Rio Tinto ADR | 2.5% | +1.8% |
| ANET | Arista Networks | 2.4% | +2.8% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Sep 14, 2026 | SELL | AMZN | 8.1% → 7.8% |
| Sep 14, 2026 | SELL | AAPL | 8.2% → 8.3% |
| Sep 14, 2026 | BUY | RIO | 2.6% → 2.5% |
| Sep 14, 2026 | BUY | NVDA | 8.0% → 8.1% |
| Sep 14, 2026 | BUY | ADI | 2.6% → 2.7% |
Investment Style Analysis
Altshuler Shaham Ltd. is widely recognized for employing a Multi-Strategy strategy. As of Sep 22, 2026, the firm oversees approximately $5.3B in assets under management (AUM). The portfolio demonstrates a clear preference for the Semiconductors and Drug Manufacturers - Specialty & Generic sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Sep 14, Altshuler Shaham Ltd. made a significant move by reducing the position in AMZN. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
Altshuler Shaham’s investment philosophy centers on a responsible, research-driven, and long-term perspective. The firm emphasizes fundamental analysis of global macroeconomic trends alongside in-depth security selection to identify high-potential assets. Key principles include broad global diversification to mitigate local market volatility and a focus on financially robust, highly liquid companies with strong cash flows. The group maintains a permanent and experienced team of managers who adhere to a disciplined, calculated approach, sometimes taking contrarian positions to exhaust asset potential over time. This strategy is designed to achieve consistent returns and capital preservation across various market cycles while prioritizing client trust and professional integrity.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Altshuler Shaham Ltd..
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Frequently asked questions
How is the simulated portfolio for Altshuler Shaham Ltd. constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Altshuler Shaham Ltd.'s largest holding?
As of the latest filing, Altshuler Shaham Ltd.'s top position is Taiwan Semiconductor Manufacturing (TSM), representing 11.8% of the portfolio. This reflects a high-conviction bet by the institution.
What is Altshuler Shaham Ltd.'s historical performance and risk profile?
Our simulation indicates a total return of +26.9% with a win rate of 50%. Notably, the portfolio maintains a Sharpe Ratio of 4.27, suggesting an exceptional level of risk-adjusted returns compared to the broader market.
What sectors does Altshuler Shaham Ltd. primarily invest in?
Altshuler Shaham Ltd. has a strong preference for the Semiconductors sector, which makes up 27.9% of their disclosed assets. The portfolio also has exposure to Drug Manufacturers - Specialty & Generic, indicating a specific thematic focus.
Is Altshuler Shaham Ltd.'s portfolio concentrated or diversified?
Altshuler Shaham Ltd. runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 28.7% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Altshuler Shaham Ltd. performed in 2026?
Our AI-simulated model portfolio for Altshuler Shaham Ltd. tracks a Year-to-Date (YTD) return of +16.7%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Gilad Altshuler manage Altshuler Shaham Ltd. directly?
Yes, Gilad Altshuler serves as the key portfolio manager for Altshuler Shaham Ltd., overseeing the investment strategy and final capital allocation decisions.