Who owns Fortinet (FTNT)?
141 holders named in SEC filings declare between 62.4% and 78.1% of Fortinet's shares outstanding, as of Sep 30, 2026. The largest are Vanguard (9.8%), BlackRock (8.5%) and Ken Xie (7.9%); the five largest hold 37.8% together. Another 1,436 institutions hold small positions worth 6.1%. At least 15.9% of the shares appear in no ownership filing: investors who do not have to report, mostly individuals. From Mar 31, 2026 to Jun 30, 2026, institutions that filed both quarters bought 5.1% and sold 5.5% of the shares, a net sale of 0.42%; 321 opened a position, 476 added, 549 reduced and 88 sold out. Biggest buyers: Jane Street (+3.9M shares) and ACADIAN ASSET MANAGEMENT LLC (+3.0M shares). Biggest sellers: VanEck (-5.5M) and BNY (-4.0M). Directors and officers, from their latest Form 4: Ken Xie (7.9%) and Michael Xie (7.6%). Over time, 1,558 managers declared Fortinet in their 13F for Q2 2026, against 596 for Q4 2019: together at most 68.7% of the shares outstanding, against 75.4%.
| Holder | Filing | Share of capital | As of | Holding since (13F) |
|---|---|---|---|---|
| Vanguard | 13F | 9.8% | Jun 30, 2026 | Q4 2019 or earlier |
| BlackRock | 13F | 8.5% | Jun 30, 2026 | Q4 2019 or earlier |
| Ken Xie | Form 4 | 7.9% | Aug 3, 2026 | — |
| Michael Xie | Form 4 | 7.6% | Aug 3, 2026 | — |
| State Street | 13F | 4.0% | Jun 30, 2026 | Q4 2019 or earlier |
| Invesco | 13F | 3.4% | Jun 30, 2026 | Q4 2019 or earlier |
| Geode Capital | 13F | 2.4% | Jun 30, 2026 | Q4 2019 or earlier |
| Norges Bank | 13F | 1.7% | Jun 30, 2026 | Q4 2019 or earlier |
| FIRST TRUST ADVISORS LP | 13F | 1.5% | Jun 30, 2026 | Q4 2019 or earlier |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | 13F | 1.4% | Jun 30, 2026 | Q4 2019 or earlier |
| UBS | 13F | 1.3% | Jun 30, 2026 | Q4 2019 or earlier |
| BNY | 13F | 1.3% | Jun 30, 2026 | Q4 2019 or earlier |
| AQR | 13F | 1.2% | Jun 30, 2026 | Q4 2019 or earlier |
| Morgan Stanley | 13F | 1.2% | Jun 30, 2026 | Q4 2019 or earlier |
| Goldman Sachs | 13F | 1.1% | Jun 30, 2026 | Q4 2019 or earlier |
| NORDEA INVESTMENT MANAGEMENT AB | 13F | 0.92% | Jun 30, 2026 | Q4 2019 or earlier |
| Legal & General | 13F | 0.87% | Jun 30, 2026 | Q4 2019 or earlier |
| Northern Trust | 13F | 0.86% | Jun 30, 2026 | Q4 2019 or earlier |
| JPMorgan | 13F | 0.68% | Jun 30, 2026 | Q4 2019 or earlier |
| Charles Schwab | 13F | 0.68% | Jun 30, 2026 | Q4 2019 or earlier |
| D. E. Shaw | 13F | 0.66% | Jun 30, 2026 | Q3 2021 |
| Amundi | 13F | 0.65% | Jun 30, 2026 | Q4 2019 or earlier |
| ACADIAN ASSET MANAGEMENT LLC | 13F | 0.60% | Jun 30, 2026 | Q2 2020 |
| Dimensional | 13F | 0.58% | Jun 30, 2026 | Q4 2019 or earlier |
| Bank of America | 13F | 0.58% | Jun 30, 2026 | Q4 2019 or earlier |
Fortinet institutional ownership over time
| Quarter | 13F managers | Share of the company (upper bound) | Value declared | Held by stock pickers |
|---|---|---|---|---|
| Q4 2019 | 596 | 75.4% | $13.0B | 54.7% |
| Q4 2020 | 692 | 66.6% | $16.0B | 51.9% |
| Q4 2021 | 947 | 66.0% | $38.7B | 53.4% |
| Q4 2022 | 926 | 67.6% | $25.8B | 55.0% |
| Q4 2023 | 1,046 | 64.2% | $28.9B | 52.0% |
| Q4 2024 | 1,279 | 66.7% | $48.3B | 50.2% |
| Q4 2025 | 1,320 | 68.7% | $40.6B | 40.5% |
| Q2 2026 | 1,558 | 68.7% | $77.2B | 40.5% |
From SEC Form 13F, every quarter since the end of 2019, read like the current quarter: entities of a house summed, a value contradicting its share count set aside. The share of the company is an upper bound — two managers can declare the same shares — over the shares outstanding at that date.