PALO ALTO NETWORKS INC (PANW)
Institutional ownership reported to the SEC as of Q2 2026, across 32 quarters.
Institutions report 677,935,214 shares against 815,000,000 outstanding. Shares only - option lines are excluded, which is why this can be compared with the company at all. The count comes from the cover page of the company's own most recent report, so it is dated when that was filed rather than at quarter end.
Calls and puts are the parts of reported value carried in derivative lines rather than shares, and they point in opposite directions: a manager holding calls is positioned for the security, one holding puts against it - or hedging shares they already own, which is why index funds carry so many. Most sites add the two together and report one figure, which averages away the only interesting part.
Holders
| Filer | Value | Shares | Their book | Held | Change |
|---|---|---|---|---|---|
| BlackRock, Inc. | $25.8B | 75,753,509 | 0.38% | 8q | +4.6%+$1.1B |
| VANGUARD CAPITAL MANAGEMENT LLC | $18.1B | 53,129,128 | 0.39% | 2q | +0.7%+$124.0M |
| STATE STREET CORP | $12.6B | 36,979,497 | 0.37% | 31q | +4.2%+$509.2M |
| MORGAN STANLEY | $10.0B | 29,450,112 | 0.53% | 35q | -8.9%-$978.3M |
| Invesco Ltd. | $8.8B incl. $6.0M options CALL | 25,647,946 | 0.69% | 31q | +7.2%+$586.8M |
| BANK OF AMERICA CORP /DE/ | $7.7B | 22,681,876 | 0.50% | 31q | +0.9%+$70.0M |
| JPMORGAN CHASE & CO | $7.4B incl. $218.8M options CALL+PUT | 21,715,578 | 0.41% | 31q | +61.2%+$2.8B |
| FMR LLC | $6.8B | 20,054,462 | 0.30% | 31q | +147.4%+$4.1B |
| GEODE CAPITAL MANAGEMENT, LLC | $6.7B | 19,615,573 | 0.36% | 31q | +1.5%+$99.3M |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $6.6B | 19,347,649 | 0.30% | 2q | -1.3%-$86.6M |
| JANE STREET GROUP, LLC | $5.6B incl. $4.8B options CALL+PUT | 2,200,492 | 0.46% | 31q | +3002.6%+$5.4B |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $4.7B incl. $4.5B options CALL+PUT | 745,472 | 0.37% | 31q | +56.0%+$1.7B |
| UBS Group AG | $3.4B incl. $1.1B options CALL+PUT | 6,758,096 | 0.44% | 31q | -18.1%-$759.2M |
| NORGES BANK | $3.3B | 9,750,674 | 0.33% | 32q | +26.9%+$704.8M |
| Nuveen, LLC | $3.1B | 9,013,366 | 0.73% | 6q | +12.7%+$347.3M |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $3.0B | 8,778,963 | 0.54% | 31q | +8.7%+$240.8M |
| NORTHERN TRUST CORP | $3.0B | 8,757,797 | 0.35% | 31q | +0.9%+$26.4M |
| GOLDMAN SACHS GROUP INC | $2.9B incl. $198.0M options CALL+PUT | 7,933,568 | 0.25% | 31q | +27.2%+$621.7M |
| CITADEL ADVISORS LLC | $2.9B incl. $2.4B options CALL+PUT | 1,499,125 | 0.33% | 31q | -17.8%-$624.3M |
| PeakShares LLC | $2.7B | 8,051,000 | 2.04% | 3q | +107218.0%+$2.7B |
| ROYAL BANK OF CANADA | $2.6B incl. $180.2M options CALL+PUT | 6,959,433 | 0.38% | 31q | -7.9%-$219.1M |
| AMERIPRISE FINANCIAL INC | $2.2B | 6,563,374 | 0.45% | 31q | +1.0%+$21.4M |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $2.2B | 6,382,853 | 0.29% | 31q | +7.3%+$148.3M |
| WELLS FARGO & COMPANY/MN | $2.0B incl. $2.7M options PUT | 5,968,975 | 0.33% | 31q | -2.4%-$51.2M |
| Legal & General Group Plc | $2.0B | 5,771,815 | 0.41% | 31q | -7.7%-$163.6M |
| Fisher Asset Management, LLC | $2.0B | 5,755,989 | 0.58% | 23q | +2142.6%+$1.9B |
| Amundi | $1.8B | 5,417,426 | 0.44% | 21q | -14.0%-$300.2M |
| FIRST TRUST ADVISORS LP | $1.8B | 5,255,509 | 1.05% | 31q | -18.7%-$412.8M |
| IMC-Chicago, LLC | $1.6B CALL+PUT | options only | 0.39% | 19q | OPTIONS |
| VANGUARD FIDUCIARY TRUST CO | $1.6B | 4,663,303 | 0.35% | 2q | HELD |
| Bank of New York Mellon Corp | $1.6B | 4,603,119 | 0.26% | 31q | HELD |
| DEUTSCHE BANK AG\ | $1.5B | 4,343,546 | 0.43% | 34q | -4.5%-$70.0M |
| PRICE T ROWE ASSOCIATES INC /MD/ | $1.4B | 4,155,391 | 0.14% | 31q | +63.9%+$552.5M |
| Clearbridge Investments, LLC | $1.4B | 4,155,088 | 1.17% | 31q | -15.4%-$257.7M |
| BANK OF MONTREAL /CAN/ | $1.2B incl. $159.8M options CALL+PUT | 2,971,233 | 0.39% | 31q | -0.5%-$6.3M |
| BARCLAYS PLC | $1.2B incl. $88.7M options CALL+PUT | 3,132,720 | 0.22% | 31q | -18.0%-$253.6M |
| MILLENNIUM MANAGEMENT LLC | $1.0B incl. $894.8M options CALL+PUT | 403,172 | 0.37% | 31q | +91.1%+$492.2M |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $996.6M | 2,923,047 | 1.00% | 31q | -10.8%-$120.6M |
| Walleye Trading LLC | $970.7M CALL+PUT | options only | 1.11% | 31q | OPTIONS |
| WELLINGTON MANAGEMENT GROUP LLP | $946.1M | 2,774,225 | 0.16% | 22q | +68.7%+$385.2M |
| FRANKLIN RESOURCES INC | $904.1M | 2,651,188 | 0.20% | 31q | -3.9%-$36.8M |
| CITIGROUP INC | $890.9M incl. $90.7M options CALL+PUT | 2,346,450 | 0.29% | 31q | +4.4%+$37.3M |
| Swedbank AB | $827.4M | 2,426,137 | 0.71% | 21q | -11.5%-$107.0M |
| Sumitomo Mitsui Trust Group, Inc. | $780.6M | 2,288,912 | 0.45% | 31q | +1.8%+$13.8M |
| Swiss National Bank | $780.0M | 2,287,315 | 0.41% | 31q | -3.6%-$28.7M |
| Pictet Asset Management Holding SA | $771.8M | 2,264,528 | 0.74% | 12q | -52.9%-$867.4M |
| RAYMOND JAMES FINANCIAL INC | $752.7M incl. $275.0K options PUT | 2,206,527 | 0.20% | 7q | -3.5%-$27.3M |
| VOYA INVESTMENT MANAGEMENT LLC | $735.0M | 2,155,423 | 0.64% | 31q | +4.7%+$33.2M |
| STIFEL FINANCIAL CORP | $719.0M | 2,108,508 | 0.60% | 31q | -2.7%-$19.6M |
| Mitsubishi UFJ Asset Management Co., Ltd. | $713.0M | 2,090,819 | 0.40% | 31q | +6.6%+$44.3M |
| National Pension Service | $667.0M | 1,955,902 | 0.43% | 31q | -9.1%-$66.6M |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $644.6M | 1,890,330 | 0.46% | 31q | -20.6%-$166.9M |
| LAZARD ASSET MANAGEMENT LLC | $618.9M | 1,814,830 | 0.94% | 46q | -12.5%-$88.2M |
| Assenagon Asset Management S.A. | $614.7M | 1,802,522 | 0.38% | 31q | +286.9%+$455.8M |
| BNP PARIBAS FINANCIAL MARKETS | $613.6M incl. $99.8M options CALL+PUT | 1,506,801 | 0.21% | 15q | -32.3%-$293.1M |
| HSBC HOLDINGS PLC | $610.3M incl. $18.1M options CALL+PUT | 1,738,183 | 0.25% | 31q | +7.6%+$42.9M |
| Vanguard Global Advisers, LLC | $596.4M | 1,748,865 | 0.28% | 2q | -1.0%-$6.2M |
| LPL Financial LLC | $583.4M incl. $1.1M options PUT | 1,707,431 | 0.13% | 31q | -2.5%-$14.8M |
| Polar Capital Holdings Plc | $570.4M | 1,672,688 | 1.35% | new | NEW |
| VANGUARD ASSET MANAGEMENT, Ltd | $535.0M | 1,568,853 | 0.36% | 2q | +12.6%+$59.8M |
| Robeco Institutional Asset Management B.V. | $534.0M | 1,565,744 | 0.66% | 38q | +32.2%+$130.0M |
| Employees Provident Fund Board | $506.0M | 1,483,872 | 2.90% | 12q | -21.3%-$136.6M |
| FIFTH THIRD BANCORP | $498.9M | 1,463,013 | 0.81% | 31q | -5.1%-$27.1M |
| Optiver Holding B.V. | $472.8M CALL+PUT | options only | 0.13% | 5q | OPTIONS |
| RHUMBLINE ADVISERS | $470.4M | 1,379,343 | 0.35% | 31q | -0.7%-$3.4M |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | $469.9M | 1,378,110 | 0.36% | 20q | -40.1%-$314.5M |
| US BANCORP \DE\ | $468.7M | 1,374,306 | 0.51% | 31q | HELD |
| California Public Employees Retirement System | $462.4M | 1,356,049 | 0.26% | 31q | -5.9%-$29.1M |
| NORDEA INVESTMENT MANAGEMENT AB | $452.1M | 1,344,016 | 0.37% | 31q | -37.4%-$270.5M |
| DIMENSIONAL FUND ADVISORS LP | $446.8M | 1,310,622 | 0.08% | 31q | +2.0%+$8.9M |
| Mirova US LLC | $445.1M | 1,305,090 | 4.79% | 11q | -18.6%-$101.5M |
| CIBC Bancorp USA Inc. | $418.3M | 1,226,765 | 0.51% | 3q | -5.2%-$22.9M |
| BLAIR WILLIAM & CO/IL | $418.3M | 1,226,519 | 1.09% | 31q | -6.0%-$26.7M |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $417.8M | 1,225,032 | 0.38% | 31q | +3.7%+$14.8M |
| CAPTRUST FINANCIAL ADVISORS | $415.6M incl. $341.0K options PUT | 1,217,668 | 0.63% | 31q | -1.1%-$4.7M |
| AMERICAN CENTURY COMPANIES INC | $415.2M | 1,217,568 | 0.18% | 31q | +1.5%+$6.3M |
| PRINCIPAL FINANCIAL GROUP INC | $412.8M | 1,210,400 | 0.20% | 31q | -5.0%-$21.6M |
| NATIONAL BANK OF CANADA /FI/ | $408.7M incl. $156.9M options CALL | 739,323 | 0.29% | 19q | -40.3%-$276.4M |
| VICTORY CAPITAL MANAGEMENT INC | $379.9M | 1,114,157 | 0.21% | 31q | -3.4%-$13.4M |
| Corient Private Wealth LP | $373.4M | 1,095,028 | 0.52% | 15q | +36.2%+$99.2M |
| NEUBERGER BERMAN GROUP LLC | $367.5M | 1,077,767 | 0.24% | 31q | -3.0%-$11.3M |
| BROWN ADVISORY INC | $361.3M | 1,059,527 | 0.56% | 31q | -39.4%-$234.7M |
| PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO | $358.6M | 1,051,624 | 1.24% | 31q | +6.5%+$21.8M |
| D. E. Shaw & Co., Inc. | $355.8M incl. $293.0M options CALL+PUT | 184,064 | 0.17% | 31q | +38.1%+$98.2M |
| Capital Research Global Investors | $353.7M | 1,037,093 | 0.05% | 14q | -47.1%-$315.1M |
| VAN ECK ASSOCIATES CORP | $350.7M | 1,028,476 | 0.21% | 16q | -5.3%-$19.5M |
| Alecta Tjanstepension Omsesidigt | $349.1M | 1,025,000 | 1.47% | 3q | HELD |
| PRIMECAP MANAGEMENT CO/CA/ | $347.8M | 1,019,890 | 0.21% | 30q | -1.4%-$4.9M |
| SG Americas Securities, LLC | $346.1M incl. $39.9M options CALL+PUT | 898,062 | 0.19% | 31q | +13.9%+$42.3M |
| Cerity Partners LLC | $345.2M incl. $102.3K options CALL | 1,012,015 | 0.42% | 24q | -2.2%-$7.8M |
| ENVESTNET ASSET MANAGEMENT INC | $344.5M | 1,010,228 | 0.08% | 31q | -6.7%-$24.6M |
| Rockefeller Capital Management L.P. | $335.2M | 983,075 | 0.51% | 31q | -2.8%-$9.8M |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $332.9M | 976,561 | 0.51% | 7q | -14.0%-$54.4M |
| Candriam S.C.A. | $328.1M | 963,054 | 1.48% | 31q | -19.7%-$80.3M |
| Quilter Plc | $325.9M | 955,609 | 4.90% | 27q | -8.2%-$29.1M |
| NEW YORK STATE COMMON RETIREMENT FUND | $314.4M | 921,892 | 0.40% | 31q | -0.6%-$2.0M |
| ProShare Advisors LLC | $309.6M | 907,938 | 0.45% | 31q | -23.2%-$93.7M |
| Vident Advisory, LLC | $305.8M | 896,838 | 2.21% | 12q | -28.6%-$122.4M |
| KING LUTHER CAPITAL MANAGEMENT CORP | $302.6M | 887,302 | 1.24% | 17q | +5.7%+$16.4M |
| Atreides Management, LP | $299.1M | 876,954 | 2.09% | 2q | +56.1%+$107.5M |
Showing the largest 100 of 2,967 reported holders. The count of 2,966 above leaves out 1 position whose reported value failed our price check; it is listed here as filed.
Q2 2026 in brief
In Q2 2026, 2,966 managers that file Form 13F reported holding Palo Alto Networks Inc (PANW), $251.2B in all, or about 82% of the shares outstanding. 617 managers opened a position and 152 sold out completely, against 2,501 holders the quarter before. Largest holders: Blackrock, Inc., Vanguard Capital Management Llc and State Street Corp. Largest new positions: Polar Capital Holdings Plc ($570.4M), Meitav Investment House Ltd ($245.6M) and Capital International Investors ($223.2M).
Q2 2026 is the latest quarter whose 13F deadline has passed. A 13F shows long US stock positions at quarter end, filed up to 45 days later; an adviser and a sub-adviser can both report the same shares.
What the company announced
Form 8-K filings from the last 120 days, showing only the items worth a reader's attention. Earnings releases, exhibit attachments and general disclosures are filed constantly and are left out. Filed is when the SEC received it; event is the date the company says the thing happened.
| Filed | Event date | What | Source |
|---|---|---|---|
| 2026-08-21 | 2026-08-20 | Directors or officers departed or appointed Charter or bylaws amended | filing |
What the insiders did
Open market purchases and sales reported on Form 4 in the last 180 days. Grants, option exercises and shares surrendered to cover tax are left out: they are compensation rather than a decision to buy or sell. Where a broker filled one order in tranches the lines are summed, because it was one decision.
Officers and directors
| Date | Insider | Role | Side | Shares | Value |
|---|---|---|---|---|---|
| 2026-05-22 | Klarich Lee | EVP Chief Product & Tech Ofcr | Sold | 62,904 | $16.3M ×12 |
| 2026-09-24 | Golechha Dipak | EVP, Chief Financial Officer | Sold | 27,500 | $10.8M ×8 |
| 2026-09-17 | GOETZ JAMES J | Director | Sold | 20,000 | $7.5M ×11 |
| 2026-06-12 | GOETZ JAMES J | Director | Sold | 20,000 | $5.6M ×5 |
| 2026-06-12 | Key John P. | Director | Sold | 7,500 | $2.1M |
| 2026-06-23 | Golechha Dipak | EVP, Chief Financial Officer | Sold | 5,000 | $1.4M ×6 |
| 2026-09-14 | Key John P. | Director | Sold | 2,500 | $940.1K |
| 2026-09-14 | Bawa Aparna | Director | Sold | 1,000 | $373.6K |
| 2026-09-01 | Paul Josh D. | Chief Accounting Officer | Sold | 900 | $336.3K |
| 2026-08-25 | Paul Josh D. | Chief Accounting Officer | Sold | 900 | $318.4K |
| 2026-06-01 | Paul Josh D. | Chief Accounting Officer | Sold | 1,100 | $313.6K |
| 2026-07-01 | Paul Josh D. | Chief Accounting Officer | Sold | 900 | $310.5K |
Quarter by quarter
Coverage begins with the quarter ending 2018-12-31. Earlier filings exist only as occasional late amendments, too sparse to describe a market, so they are not shown.
| Quarter | Holders | Value | Shares | New | Added | Trimmed | Options |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 1,283 | $13.7B | 34,794,908 | 131 | 374 | 525 | 0.1% |
| Q2 2026 | 2,966 | $251.2B | 677,935,214 | 576 | 896 | 1,067 | 8.3% |
| Q1 2026 | 2,501 | $110.7B | 646,126,377 | 227 | 1,242 | 720 | 6.6% |
| Q4 2025 | 2,551 | $115.6B | 582,822,736 | 133 | 1,049 | 727 | 7.1% |
| Q3 2025 | 2,461 | $127.8B | 567,855,527 | 213 | 1,190 | 589 | 9.6% |
| Q2 2025 | 2,404 | $119.4B | 533,673,680 | 230 | 1,000 | 708 | 8.6% |
| Q1 2025 | 2,275 | $96.8B | 516,744,703 | 155 | 1,003 | 689 | 9.0% |
| Q4 2024 | 2,309 | $104.9B | 511,864,558 | 175 | 880 | 666 | 11.3% |
| Q3 2024 | 2,079 | $99.9B | 256,808,686 | 163 | 811 | 634 | 12.2% |
| Q2 2024 | 2,029 | $100.3B | 256,554,231 | 245 | 848 | 553 | 13.3% |
| Q1 2024 | 1,921 | $91.8B | 282,797,468 | 225 | 837 | 570 | 12.6% |
| Q4 2023 | 1,865 | $96.1B | 280,001,094 | 218 | 692 | 553 | 14.1% |
| Q3 2023 | 1,650 | $73.4B | 265,868,586 | 156 | 650 | 514 | 14.7% |
| Q2 2023 | 1,612 | $79.6B | 270,614,453 | 216 | 563 | 551 | 13.1% |
| Q1 2023 | 1,485 | $61.1B | 265,593,330 | 215 | 561 | 445 | 13.0% |
| Q4 2022 | 1,384 | $42.4B | 254,062,346 | 127 | 480 | 504 | 16.7% |
| Q3 2022 | 1,338 | $366.1B | 2,185,093,843 | 120 | 508 | 450 | 2.2% |
| Q2 2022 | 1,315 | $421.4B | 905,736,005 | 137 | 487 | 435 | 1.9% |
| Q1 2022 | 1,313 | $520.5B | 893,241,350 | 178 | 451 | 428 | 2.0% |
| Q4 2021 | 1,225 | $232.3B | 497,584,509 | 143 | 386 | 367 | 5.6% |
| Q3 2021 | 1,092 | $384.7B | 852,402,457 | 164 | 370 | 307 | 1.6% |
| Q2 2021 | 986 | $152.8B | 480,166,061 | 99 | 363 | 266 | 2.1% |
| Q1 2021 | 964 | $120.7B | 447,791,080 | 101 | 345 | 304 | 2.0% |
| Q4 2020 | 948 | $254.6B | 811,245,883 | 150 | 296 | 244 | 1.1% |
| Q3 2020 | 827 | $83.6B | 450,438,544 | 101 | 285 | 242 | 1.4% |
| Q2 2020 | 796 | $76.5B | 682,193,837 | 158 | 272 | 218 | 1.3% |
| Q1 2020 | 699 | $58.2B | 664,804,891 | 80 | 234 | 264 | 1.2% |
| Q4 2019 | 807 | $72.4B | 647,056,591 | 85 | 262 | 227 | 1.5% |
| Q3 2019 | 744 | $49.3B | 271,261,255 | 73 | 258 | 233 | 2.0% |
| Q2 2019 | 771 | $47.8B | 257,832,821 | 81 | 311 | 229 | 3.2% |
| Q1 2019 | 823 | $53.2B | 318,196,544 | 132 | 281 | 235 | 1.5% |
| Q4 2018 | 744 | $58.7B | 527,461,014 | 13 | 19 | 8 | 1.7% |