# EDGAR Filing Document

**Accession Number:** 0001493318
**File Stem:** 0001104659-25-081496
**Filing Date:** 2025-8
**Character Count:** 14693
**Document Hash:** 3f9d44aea30f53bba7d9555fd56809ab
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-081496.hdr.sgml**: 20250821

**ACCESSION NUMBER**: 0001104659-25-081496

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250821

**DATE AS OF CHANGE**: 20250821

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** eToro Group Ltd.
- **CENTRAL INDEX KEY:** 0001493318
- **STANDARD INDUSTRIAL CLASSIFICATION:** SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** D8
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-95048
- **FILM NUMBER:** 251241945

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 30 SHESHET HAYAMIN STREET
- **CITY:** BNEI BRAK
- **PROVINCE COUNTRY:** L3
- **ZIP:** 5120261
- **BUSINESS PHONE:** 972 73-265-6600

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 30 SHESHET HAYAMIN STREET
- **CITY:** BNEI BRAK
- **PROVINCE COUNTRY:** L3
- **ZIP:** 5120261

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Tradonomi Ltd.
- **DATE OF NAME CHANGE:** 20100603
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Andalusian Private Capital, LP
- **CENTRAL INDEX KEY:** 0002069658

**ORGANIZATION NAME:**
- **EIN:** 852181758
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G

**BUSINESS ADDRESS:**
- **STREET 1:** 40 WEST 57TH STREET, SUITE 1700
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** (973) 701-7000

**MAIL ADDRESS:**
- **STREET 1:** 40 WEST 57TH STREET, SUITE 1700
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

## Exhibit 99.1

**Exhibit 99.1**

**JOINT FILING AGREEMENT**

In accordance with Rule 13d-1(k)(1) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with each of the Reporting Persons (as such term is defined in the Schedule 13G referred to below) on behalf of each of them of a statement on Schedule 13G (including amendments thereto) with respect to the Class A common shares, no par value per share, of eToro Group Ltd., and that this agreement may be included as an exhibit to such joint filing.

Dated: August 21, 2025

---

| | |
|:---|:---|
| **Andalusian Private Capital, LP** | **Andalusian Private Capital, LP** |
| /s/ Jeffrey Kaplan | /s/ Jeffrey Kaplan |
| Name: | Jeffrey Kaplan |
| Title: | Founder |
| **Andalusian SPV III, LP** | **Andalusian SPV III, LP** |
| /s/ Jeffrey Kaplan | /s/ Jeffrey Kaplan |
| Name: | Jeffrey Kaplan |
| Title: | Founder |
| **Turkoman Partners, LP** | **Turkoman Partners, LP** |
| /s/ Jeffrey Kaplan | /s/ Jeffrey Kaplan |
| Name: | Jeffrey Kaplan |
| Title: | Founder |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**Issuer:** eToro Group Ltd.

**Title of Class of Securities:** Class A common shares, no par value per share

**CUSIP Number:** G32089107

**Date of Event Which Requires Filing of this Statement:** 06/30/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [ ] Rule 13d-1(c)

- [x] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Andalusian Private Capital, LP | Names of Reporting Persons<br>Andalusian Private Capital, LP |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>5679079.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>5679079.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5679079.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5679079.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>11.26% | Percent of Class Represented by Amount in Row (9)<br>11.26% |
| 12. | Type of Reporting Person (See Instructions)<br>IA | Type of Reporting Person (See Instructions)<br>IA |

**Comment for Type of Reporting Person:** The reported securities consist of (i) 2,470,523 Class A common shares ("Class A Shares") and (ii) 3,208,556 Class A Shares issuable upon conversion of Class B common shares ("Class B Shares").

The reported percentage is calculated based upon 47,220,866 Class A Shares outstanding as of May 15, 2025, as reported by the Issuer in its Prospectus 424B4 ("Prospectus") filed with the Securities and Exchange Commission ("SEC") on May 15, 2025, as increased by 3,208,556 Class A Shares issuable upon conversion of Class B Shares.

---

| 1. | Names of Reporting Persons<br>Andalusian SPV III, LP | Names of Reporting Persons<br>Andalusian SPV III, LP |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>5679079.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>5679079.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5679079.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5679079.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>11.26% | Percent of Class Represented by Amount in Row (9)<br>11.26% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** The reported securities consist of (i) 2,470,523 Class A Shares and (ii) 3,208,556 Class A Shares issuable upon conversion of Class B Shares.

The reported percentage is calculated based upon 47,220,866 Class A Shares outstanding as of May 15, 2025, as reported by in the Issuer's Prospectus filed with the SEC on May 15, 2025, as increased by 3,208,556 Class A Shares issuable upon conversion of Class B Shares.

---

| 1. | Names of Reporting Persons<br>Turkoman Partners, LP | Names of Reporting Persons<br>Turkoman Partners, LP |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>5679079.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>5679079.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5679079.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5679079.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>11.26% | Percent of Class Represented by Amount in Row (9)<br>11.26% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** The reported securities consist of (i) 2,470,523 Class A Shares and (ii) 3,208,556 Class A Shares issuable upon conversion of Class B Shares.

The reported percentage is calculated based upon 47,220,866 Class A Shares outstanding as of May 15, 2025, as reported by in the Issuer's Prospectus filed with the SEC on May 15, 2025, as increased by 3,208,556 Class A Shares issuable upon conversion of Class B Shares.

---

**Item 1(a). Name of Issuer:**
eToro Group Ltd.

**Item 1(b). Address of Issuer's Principal Executive Offices:**
30 SHESHET HAYAMIN STREET BNEI BRAK, L3, 5120261

**Item 2(a). Name of Person Filing:**
This statement is being filed by the entities listed below, all of whom together are referred to herein as the "Reporting Persons":

(i) Andalusian Private Capital, LP ("Private Capital")

(ii) Andalusian SPV III, LP ("SPV III")

(iii) Turkoman Partners, LP ("Turkoman")

**Item 2(b). Address of Principal Business Office:**
The principal business address of the Reporting Persons is 51 John F. Kennedy Parkway, Short Hills, NJ, 07078.

**Item 2(c). Citizenship:**
See responses to row 4 on each cover page.

**Item 2(d). Title of Class of Securities:**
Class A common shares, no par value per share

**Item 2(e). CUSIP Number:**
G32089107

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

See responses to row 9 on each cover page.
Private Capital is the investment manager of SPV III and Turkoman, which directly hold the reported securities. The general partners of SPV III and Turkoman are controlled by Jeffrey Kaplan and Nicholas Savasta, who may be deemed to have voting and dispositive authority over, and therefore beneficial ownership of, the reported securities.
Each of the foregoing entities, Mr. Kaplan, and Mr. Savasta disclaims beneficial ownership of the reported securities (except to the extent such securities are directly held by such entity). The filing of this statement shall not be construed as an admission that the Reporting Persons or any of the foregoing are the beneficial owners of any of the securities covered by this statement.

**(b) Percent of class:**

See responses to row 11 on each cover page.
The reported securities represent 11.26% of the outstanding Class A Shares. Such calculation is based upon 47,220,866 Class A Shares outstanding as of May 15, 2025, as reported by in the Issuer's Prospectus filed with the SEC on May 15, 2025, as increased by 3,208,556 Class A Shares issuable upon conversion of Class B Shares.

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

See responses to row 5 on each cover page.

**(ii) Shared power to vote or to direct the vote:**

See responses to row 6 on each cover page.

**(iii) Sole power to dispose or to direct the disposition of:**

See responses to row 7 on each cover page.

**(iv) Shared power to dispose or to direct the disposition of:**

See responses to row 8 on each cover page.

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

—

### SIGNATURE

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.

**Andalusian Private Capital, LP**

**Date:** 08/21/2025

**By:** /s/ Jeffrey Kaplan

**Name & Title:** Jeffrey Kaplan / Founder

**Andalusian SPV III, LP**

**Date:** 08/21/2025

**By:** /s/ Jeffrey Kaplan

**Name & Title:** Jeffrey Kaplan / Founder

**Turkoman Partners, LP**

**Date:** 08/21/2025

**By:** /s/ Jeffrey Kaplan

**Name & Title:** Jeffrey Kaplan / Founder