Portfolio

Source: Grand SummaryUpdated Aug 10, 2026, 1:40 PM UTC · Read Aug 16, 2026, 4:10 PM UTC
← Portfolio

Fund Command Center

Meitav

60 remaining loans · Grand Summary snapshot, read Aug 16, 7:10 PM

Remaining UPB

$29.0M

60 loans

Expected Recovery

—

On 0.0% of UPB with an estimate — never extrapolated

Expected Loss

—

On the same covered 0.0% of UPB

Loan count

60

Recovery coverage

—

Of fund UPB

Timing coverage

4.3%

Of fund UPB

Target / wind-down

June 2027

Management target

Recovery Outlook

Base case uses management's own currently-supplied recovery estimates. Conservative/Upside scenarios require an explicit, documented assumption — none exists yet, so they stay unavailable rather than invented.

Conservative

Unavailable — no assumption basis has been defined for this scenario yet.

Assumptions: Not yet defined

Timing: Not yet defined

Base

Unavailable — no assumption basis has been defined for this scenario yet.

Assumptions: Management-supplied recovery/loss table, taken as-is (no haircut or markup applied).

Timing: See Recovery Timeline below.

Upside

Unavailable — no assumption basis has been defined for this scenario yet.

Assumptions: Not yet defined

Timing: Not yet defined

Loans driving estimated loss

No covered loan currently shows a positive estimated loss.

Loans with no recovery estimate yet60 loans · $29.0M

Change Since Last Outlook

No approved prior outlook snapshot is currently connected for Meitav.

Loss Protection — Reigo By Meitav Fund Guarantee

Guarantee cap: management statement

Covered-loan balance (an exposure measure) and the shareholder guarantee cap (a loss-payout capacity measure) are two different numbers — never shown or computed as if they were one.

Covered loan balance (non-performing, current)$9.9M

$16.9M non-performing under guarantee in Oct 2024, $7.0M paid off since. Source: Meitav fund weekly status 11_08_26.pptx, slide 3.

Aggregate shareholder guarantee cap~$3.0M

Management statement (Uri Yarden, 2026-08-12) — not independently confirmed by any document found. This is a loss-payout capacity figure and is never the same concept as the covered-loan balance above.

Known guarantee utilization$77.0K (Partial)

13 of 28 historically-covered loans have an explicit realized-loss computation in the source, all from September 2025 — utilization for the remaining loans and all other periods is not known. Total utilization to date cannot be stated.

Remaining guarantee capacityUnknown

Cannot calculate. Cap minus known-partial-utilization would understate true cumulative utilization, since 13 of 14 months of payoff history have no explicit loss computation at all. Remaining capacity is not assumed to be close to the full cap.

Gross expected loss on covered loans—

No forward-looking expected-loss figure exists for currently-open covered loans. Only historical realized figures exist, and only for already-resolved loans.

Known realized loss on covered loans (Sept 2025 only)$77.0K across 13 loans

September 2025 only — not a cumulative total across all periods of history.

Expected guarantee recoveryCannot calculate reliably

Cannot calculate reliably — depends on utilization and remaining capacity, both of which are Partial/Unknown above.

Net expected loss to MeitavCannot yet calculate reliably

Cannot yet calculate reliably — gross expected loss on covered loans and expected guarantee recovery are both unavailable for the current book.

Historically covered loans (evidence-backed)28 loans · $6.4M covered-balance evidence
Live Meitav loans not in the covered-loan evidence (covered status: UNCLEAR)58 loans · $26.1M

28 vs. ~20 reconciliation

A re-count against the full retrieved evidence (including the 09.2025 sheet's separate 'Repaid Loans Under guarantee' detail table, not just the main monthly sheets' 'Under Guarantee' remarks) finds 28 distinct loan IDs with documented guarantee activity across 08.2025-08.2026, not 17 as an earlier pass reported. 28 already exceeds management's ~20 figure. This is reported as a genuine, unresolved discrepancy, not forced to match: possible explanations (none confirmed) include the covered pool being replenished/redefined over time as loans resolved, '~20' being a rounded approximation, or '~20' referring to a specific point-in-time snapshot (e.g. the current open pool) that a historical payoff log cannot directly measure. See src/lib/fund-command-center/meitav-guarantee-model.ts for how this is surfaced without picking a resolution.

Data confidence gaps — guarantee-specific

  • Covered-loan count not fully reconciled: 28 distinct loans found with historical guarantee evidence vs. management's stated approximately 20.
  • Guarantee utilization is incomplete — only 1 of roughly 14 months of payoff history has an explicit realized-loss computation.
  • Remaining guarantee capacity is unknown, not merely small — it cannot be derived from partial utilization data.
  • Whether any currently-reported headline loss figure is stated before or after guarantee support is unclear for every Meitav reporting cycle reviewed.
  • No document independently confirms the approximately $3M cap or the approximately 20-loan scope — both remain a management statement pending documentary confirmation.

Evidence-backed investor message

Approximately $9.9M of remaining covered-loan balance is subject to a shareholder loss-support mechanism ("Reigo By Meitav Fund Guarantee") with an aggregate cap of approximately $3.0M. Current utilization of that cap is not fully known, so it should not be presented as fully available.

Management clarification stated by Uri Yarden on Aug 12, 2026, 12:00 AM UTC: guarantors are Ben and other Reigo shareholders; structure is one aggregate shared guarantee pool. Management statement, not independently confirmed by any document found in this project's mailbox research. Losses on covered loans accumulate against the one shared cap; eligible losses continue to consume the shared cap until exhausted; losses above the cap remain with Meitav.

Recovery Timeline

Recovery timing known for 4.3% of remaining UPB, from a scheduled sale date (GP Legal DQ Report) or a management-estimated sale-timing range (legal-status table). Legal-status-table estimates are anchored to 2026-08-11 (the date that table was supplied), not a stated compile date — the table itself does not state one.

Already occurred
$751.5K
Next 3 months
$502.3K
3-6 months
$0.0
6-12 months
$0.0
Beyond 12 months
$0.0
Unknown timing
$27.8M

Fund target: June 2027 (management target, not contractual).

Already occurred1 loan · $751.5K
Next 3 months2 loans · $502.3K
Unknown timing — no signal from any source57 loans · $27.8M

Fund Decision

Not Ready

DECISION NOT YET FRAMED

No fund-level strategic decision (e.g. wind-down, continuation, or restructuring) is currently documented for Meitav in any source reviewed. This workspace will populate once one is.

Owner

Unassigned

Deadline

None set

Known options

None documented yet.

What would change our mind

  • Recovery-estimate coverage extending to the remaining uncovered loans.
  • Timing coverage extending to the loans currently missing any sale-timing signal.
  • A trust/legal document confirming the management-stated target date as a real contractual deadline.

Evidence still missing

  • Recovery estimates for the remaining 100.0% of fund UPB (60 loans).
  • Recovery/sale timing for 57 loans with no timing signal from any source.
  • Contractual confirmation of the management-stated wind-down target — currently a statement, not a documented deadline.
  • A connected BPO/appraisal/valuation source (currently 0% coverage across the whole portfolio).

Investor Narrative

Draft

Owner: Unassigned — pending management review · Updated Aug 16, 2026, 4:10 PM UTC

Management narrative

Meitav carries 60 loans and $29.0M of remaining UPB. No source-backed recovery estimate exists for this fund yet. Recovery timing is known for 4.3% of fund UPB. Target wind-down date: June 2027.

Timing

Derived calculation

Recovery timing is known for 4.3% of fund UPB from management legal-status reporting. 57 loans (95.7% of UPB) have no timing signal from any source.

Supported by 3 loan(s).

Target

Management statement

Management has stated a target of June 2027 for Meitav. This is a management statement, not a contractual or trust-documented deadline.

Supported by 0 loan(s).

Supporting evidence — loans behind this narrative: none.

Data Confidence

What this fund's numbers do and don't currently rest on.

UPB with a current recovery estimate0.0%
Loans without a connected valuation (BPO/appraisal)60 of 60 (100.0%)
Loans without a recovery-timing signal57 (95.0%)
Loans with no legal-status source connected at all43
Unresolved Grand-Summary-vs-LMS status conflicts0
No Grand-Summary-vs-LMS status conflicts found in this fund.

No BPO, appraisal, or as-is valuation source is connected for any loan in this portfolio yet — this is a portfolio-wide gap, not specific to this fund.