Elbit's drones flew over Gaza as its stock tripled for the controlling Federmann family

Image from Globes coverage: Elbit Systems and the Federmanns
Image: Globes
01 · What happened

Elbit Systems is Israel's largest arms producer, and the Federmann family controls it through Federmann Enterprises, which Globes reported in December 2025 holds about 42 percent. A 2025 UN report to the Human Rights Council says drones largely developed and supplied by Elbit and Israel Aerospace Industries have flown over Gaza, and the Campaign Against Arms Trade says Elbit's Hermes 450 drones have been implicated in attacks in Gaza and southern Lebanon. Globes reported its share price had risen by about 200 percent over three years, while the UN report names Vanguard as Elbit's second-largest institutional investor (2.0 percent) and a Fidelity fund's January 2026 holdings list shows a small Elbit position.

02 · Case file

Wall Street in Elbit

The UN Special Rapporteur's 2025 report names Vanguard the second-largest institutional investor in Elbit Systems, Israel's largest private arms maker, at 2.0% of its shares. Fidelity's Contrafund held $4M of Elbit stock in January 2026.

Sources: UN Human Rights Council (A/HRC/59/23), Fidelity Investments (Contrafund holdings)

03 · Sources · 5
Globes — The man with the biggest fortune on the TASEFedermann Enterprises also controls (42%) Elbit Systems. ... Federmann, who holds nearly half of Israel's fourth most valuable company, and whose share price has jumped by around 200% over the past three years.
Campaign Against Arms Trade — Elbit SystemsElbit Systems Ltd is Israel's largest arms producer ... Hermes 450 drones have been implicated in attacks against humanitarian workers in Gaza in April 2024, and in southern Lebanon in March 2024.
Public Interest Law Centre — PILC and CAAT call on Met Police to investigate potential complicity of Elbit Systems UK directors in atrocities in GazaThe Public Interest Law Centre (PILC), with the support of Campaign Against Arms Trade (CAAT), has today submitted a detailed complaint to the Metropolitan Police Counter Terrorism Command (SO15) ... (19 February 2026)
UN Human Rights Council (A/HRC/59/23)DocumentVanguard is the largest institutional investor in Caterpillar (9.8 per cent), Chevron (8.9 per cent) and Palantir (9.1 per cent), and second largest in Lockheed Martin (9.2 per cent) and Elbit Systems (2.0 per cent).
Fidelity Investments (Contrafund holdings)DocumentFidelity Contrafund portfolio holdings as of January 15, 2026: Elbit Systems Ltd (United States) $4,116,537, 0.002%, ESLT.
04 · Response
Elbit Systems

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Vanguard

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Fidelity Investments (FMR LLC)

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05 · What happened next · 0

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