Who owns Palo Alto Networks (PANW)
Which tracked institutional funds hold PANW, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See PANW company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-18). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on PANW is one-sided between 2026-Q1 and 2026-Q2: 21 added or opened and 1643 trimmed or exited — on balance reducing.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
PANW’s largest tracked holder by dollar value, BlackRock, Inc., sizes it at 0.5% of its own reported 13F book, while the median holder sizes it at 0.3% of theirs — a 0.2pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in PANW divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 2443 tracked filers holding PANW, 1519 increased or opened the position and 1067 reduced or closed it; over the same quarter, open-market insider Form 4s were net purchases.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in PANW between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 5
- Capital International Investors$223M
- Duquesne Family Office LLC$40M
- DISCOVERY CAPITAL MANAGEMENT, LLC / CT$3M
- Brevan Howard Capital Management LP$2M
- MAVERICK CAPITAL LTD$1M
Full exits 1638
- VANGUARD CAPITAL MANAGEMENT LLC$8.5B
- MORGAN STANLEY$5.2B
- BANK OF AMERICA CORP /DE/$3.6B
- VANGUARD PORTFOLIO MANAGEMENT LLC$3.1B
- GEODE CAPITAL MANAGEMENT, LLC$3.1B
- JPMORGAN CHASE & CO$2.1B
Largest adds
- BlackRock, Inc.$14.5B
- STATE STREET CORP$6.9B
- Invesco Ltd.$6.0B
- FMR LLC$5.5B
- NORGES BANK$2.5B
- PRICE T ROWE ASSOCIATES INC /MD/$1.0B
Largest trims
- BALYASNY ASSET MANAGEMENT L.P.$65M
- SANDS CAPITAL MANAGEMENT, LLC$15M
- Verition Fund Management LLC$8M
- Schonfeld Strategic Advisors LLC$655K
- Hudson Bay Capital Management LP$616K
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| BlackRock, Inc. added | 75,753,509 | $25.8B | 19.3% | 2026-Q2 |
| STATE STREET CORP added | 36,979,497 | $12.6B | 9.4% | 2026-Q2 |
| Invesco Ltd. added | 25,647,946 | $8.7B | 6.5% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 52,765,656 | $8.5B | 6.3% | 2026-Q1 |
| FMR LLC added | 20,054,462 | $6.8B | 5.1% | 2026-Q2 |
| MORGAN STANLEY added | 32,318,958 | $5.2B | 3.9% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 22,476,753 | $3.6B | 2.7% | 2026-Q1 |
| NORGES BANK added | 9,750,674 | $3.3B | 2.5% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 19,601,462 | $3.1B | 2.3% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC added | 19,323,515 | $3.1B | 2.3% | 2026-Q1 |
| JPMORGAN CHASE & CO added | 13,469,336 | $2.1B | 1.6% | 2026-Q1 |
| PRICE T ROWE ASSOCIATES INC /MD/ added | 4,155,391 | $1.4B | 1.1% | 2026-Q2 |
| NORTHERN TRUST CORP added | 8,680,485 | $1.4B | 1.0% | 2026-Q1 |
| UBS Group AG trimmed | 8,255,352 | $1.3B | 1.0% | 2026-Q1 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC added | 8,072,960 | $1.3B | 1.0% | 2026-Q1 |
| Nuveen, LLC added | 7,994,923 | $1.3B | 1.0% | 2026-Q1 |
| ROYAL BANK OF CANADA trimmed | 7,556,488 | $1.2B | 0.9% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC added | 6,500,951 | $1.0B | 0.8% | 2026-Q1 |
| FIRST TRUST ADVISORS LP added | 6,466,118 | $1.0B | 0.8% | 2026-Q1 |
| Amundi added | 6,297,833 | $1.0B | 0.8% | 2026-Q1 |
| Legal & General Group Plc added | 6,251,637 | $1.0B | 0.7% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 6,234,791 | $1000M | 0.7% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN added | 6,118,822 | $981M | 0.7% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 5,948,108 | $954M | 0.7% | 2026-Q1 |
| WELLINGTON MANAGEMENT GROUP LLP added | 2,774,225 | $946M | 0.7% | 2026-Q2 |
| Clearbridge Investments, LLC trimmed | 4,910,797 | $787M | 0.6% | 2026-Q1 |
| Pictet Asset Management Holding SA added | 4,809,361 | $770M | 0.6% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 4,667,011 | $748M | 0.6% | 2026-Q1 |
| Bank of New York Mellon Corp added | 4,623,890 | $741M | 0.6% | 2026-Q1 |
| DEUTSCHE BANK AG\ added | 4,548,713 | $729M | 0.5% | 2026-Q1 |
| BARCLAYS PLC trimmed | 3,819,286 | $612M | 0.5% | 2026-Q1 |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. added | 3,276,704 | $525M | 0.4% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 1,499,125 | $511M | 0.4% | 2026-Q2 |
| BANK OF MONTREAL /CAN/ trimmed | 2,987,173 | $479M | 0.4% | 2026-Q1 |
| Harel Insurance Investments & Financial Services Ltd. added | 2,761,909 | $443M | 0.3% | 2026-Q1 |
| FRANKLIN RESOURCES INC trimmed | 2,759,034 | $442M | 0.3% | 2026-Q1 |
| Swedbank AB trimmed | 2,739,952 | $439M | 0.3% | 2026-Q1 |
| SCHRODER INVESTMENT MANAGEMENT GROUP added | 2,379,617 | $382M | 0.3% | 2026-Q1 |
| Swiss National Bank added | 2,371,615 | $380M | 0.3% | 2026-Q1 |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main trimmed | 2,300,303 | $369M | 0.3% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC trimmed | 2,286,540 | $367M | 0.3% | 2026-Q1 |
| Sumitomo Mitsui Trust Group, Inc. added | 2,248,434 | $360M | 0.3% | 2026-Q1 |
| CITIGROUP INC added | 2,248,235 | $360M | 0.3% | 2026-Q1 |
| BNP PARIBAS FINANCIAL MARKETS added | 2,226,434 | $357M | 0.3% | 2026-Q1 |
| Capital Research Global Investors trimmed | 1,037,093 | $354M | 0.3% | 2026-Q2 |
| PRIMECAP MANAGEMENT CO/CA/ trimmed | 1,019,890 | $348M | 0.3% | 2026-Q2 |
| STIFEL FINANCIAL CORP added | 2,166,129 | $347M | 0.3% | 2026-Q1 |
| National Pension Service added | 2,151,333 | $345M | 0.3% | 2026-Q1 |
| NORDEA INVESTMENT MANAGEMENT AB trimmed | 2,148,128 | $338M | 0.3% | 2026-Q1 |
| LAZARD ASSET MANAGEMENT LLC added | 2,073,481 | $332M | 0.2% | 2026-Q1 |
| VOYA INVESTMENT MANAGEMENT LLC added | 2,058,190 | $330M | 0.2% | 2026-Q1 |
| Mitsubishi UFJ Asset Management Co., Ltd. added | 1,960,781 | $314M | 0.2% | 2026-Q1 |
| Employees Provident Fund Board added | 1,884,458 | $302M | 0.2% | 2026-Q1 |
| Atreides Management, LP added | 876,954 | $299M | 0.2% | 2026-Q2 |
| Vanguard Global Advisers, LLC new | 1,767,009 | $283M | 0.2% | 2026-Q1 |
| LPL Financial LLC trimmed | 1,750,681 | $281M | 0.2% | 2026-Q1 |
| BROWN ADVISORY INC added | 1,747,857 | $280M | 0.2% | 2026-Q1 |
| AQR CAPITAL MANAGEMENT LLC trimmed | 780,792 | $266M | 0.2% | 2026-Q2 |
| HSBC HOLDINGS PLC added | 1,616,065 | $259M | 0.2% | 2026-Q1 |
| Mirova US LLC trimmed | 1,602,712 | $257M | 0.2% | 2026-Q1 |
| ABN AMRO Bank N.V. trimmed | 1,579,806 | $256M | 0.2% | 2026-Q1 |
| FIFTH THIRD BANCORP added | 1,542,415 | $247M | 0.2% | 2026-Q1 |
| California Public Employees Retirement System trimmed | 1,441,498 | $231M | 0.2% | 2026-Q1 |
| VANGUARD ASSET MANAGEMENT, Ltd new | 1,393,476 | $223M | 0.2% | 2026-Q1 |
| Capital International Investors new | 654,390 | $223M | 0.2% | 2026-Q2 |
| RHUMBLINE ADVISERS added | 1,389,174 | $223M | 0.2% | 2026-Q1 |
| US BANCORP \DE\ added | 1,373,156 | $220M | 0.2% | 2026-Q1 |
| BLAIR WILLIAM & CO/IL added | 1,304,858 | $209M | 0.2% | 2026-Q1 |
| CIBC Bancorp USA Inc. added | 1,293,881 | $208M | 0.2% | 2026-Q1 |
| DIMENSIONAL FUND ADVISORS LP added | 1,284,634 | $206M | 0.2% | 2026-Q1 |
| PRINCIPAL FINANCIAL GROUP INC added | 1,273,637 | $204M | 0.2% | 2026-Q1 |
| Vident Advisory, LLC added | 1,255,734 | $201M | 0.2% | 2026-Q1 |
| NATIONAL BANK OF CANADA /FI/ added | 1,239,268 | $199M | 0.1% | 2026-Q1 |
| CAPTRUST FINANCIAL ADVISORS added | 1,231,510 | $197M | 0.1% | 2026-Q1 |
| AMERICAN CENTURY COMPANIES INC trimmed | 1,199,019 | $192M | 0.1% | 2026-Q1 |
| Candriam S.C.A. added | 1,198,697 | $192M | 0.1% | 2026-Q1 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. added | 1,199,637 | $192M | 0.1% | 2026-Q1 |
| Robeco Institutional Asset Management B.V. added | 1,184,476 | $190M | 0.1% | 2026-Q1 |
| Holocene Advisors, LP added | 1,184,439 | $190M | 0.1% | 2026-Q1 |
| ProShare Advisors LLC trimmed | 1,182,696 | $190M | 0.1% | 2026-Q1 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM added | 1,181,703 | $189M | 0.1% | 2026-Q1 |
| VICTORY CAPITAL MANAGEMENT INC added | 1,153,523 | $185M | 0.1% | 2026-Q1 |
| Compagnie Lombard Odier SCmA added | 1,148,435 | $184M | 0.1% | 2026-Q1 |
| ALLIANCEBERNSTEIN L.P. trimmed | 996,173 | $183M | 0.1% | 2026-Q1 |
| Universal- Beteiligungs- und Servicegesellschaft mbH added | 1,136,004 | $182M | 0.1% | 2026-Q1 |
| STOREBRAND ASSET MANAGEMENT AS added | 1,117,478 | $179M | 0.1% | 2026-Q1 |
| NEUBERGER BERMAN GROUP LLC added | 1,110,799 | $178M | 0.1% | 2026-Q1 |
| VAN ECK ASSOCIATES CORP added | 1,085,631 | $174M | 0.1% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 1,082,245 | $174M | 0.1% | 2026-Q1 |
| Quilter Plc added | 1,040,977 | $167M | 0.1% | 2026-Q1 |
| Cerity Partners LLC added | 1,035,004 | $166M | 0.1% | 2026-Q1 |
| MARSHALL WACE, LLP trimmed | 485,051 | $165M | 0.1% | 2026-Q2 |
| Alecta Tjanstepension Omsesidigt added | 1,025,000 | $164M | 0.1% | 2026-Q1 |
| Rockefeller Capital Management L.P. added | 1,011,857 | $162M | 0.1% | 2026-Q1 |
| VANGUARD GROUP INC added | 67,929,063 | $12.5B | 9.4% | 2025-Q4 stale |
| SCGE MANAGEMENT, L.P. | 1,885,000 | $384M | 0.3% | 2025-Q3 stale |
| AXA Investment Managers S.A. new | 1,000,567 | $204M | 0.2% | 2025-Q3 stale |
| AXA S.A. trimmed | 868,259 | $178M | 0.1% | 2025-Q2 stale |
| CIBC Private Wealth Group LLC trimmed | 955,998 | $176M | 0.1% | 2025-Q4 stale |
| RENAISSANCE TECHNOLOGIES LLC added | 908,500 | $167M | 0.1% | 2025-Q4 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.