Who owns Palo Alto Networks (PANW)?
169 holders named in SEC filings declare between 55.0% and 73.0% of Palo Alto Networks' shares outstanding, as of Sep 30, 2026. The largest are Vanguard (9.9%), BlackRock (9.3%) and State Street (4.5%); the five largest hold 30.4% together. Another 2,740 institutions hold small positions worth 9.0%. At least 18.1% 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 7.0% and sold 5.4% of the shares, a net purchase of 1.6%; 530 opened a position, 917 added, 1,105 reduced and 117 sold out. Biggest buyers: Fidelity (FMR) (+11.9M shares) and JPMorgan (+8.2M shares). Biggest sellers: Morgan Stanley (-2.9M) and PICTET ASSET MANAGEMENT SA (-2.5M). Over time, 2,880 managers declared Palo Alto Networks in their 13F for Q2 2026, against 782 for Q4 2019: together at most 81.9% of the shares outstanding, against 80.6%.
| Holder | Filing | Share of capital | As of | Holding since (13F) |
|---|---|---|---|---|
| Vanguard | 13F | 9.9% | Jun 30, 2026 | Q4 2019 or earlier |
| BlackRock | 13F | 9.3% | Jun 30, 2026 | Q4 2019 or earlier |
| State Street | 13F | 4.5% | Jun 30, 2026 | Q4 2019 or earlier |
| Morgan Stanley | 13F | 3.6% | Jun 30, 2026 | Q4 2019 or earlier |
| Invesco | 13F | 3.1% | Jun 30, 2026 | Q4 2019 or earlier |
| Bank of America | 13F | 2.8% | Jun 30, 2026 | Q4 2019 or earlier |
| JPMorgan | 13F | 2.7% | Jun 30, 2026 | Q4 2019 or earlier |
| Fidelity (FMR) | 13F | 2.5% | Jun 30, 2026 | Q4 2019 or earlier |
| Geode Capital | 13F | 2.4% | Jun 30, 2026 | Q4 2019 or earlier |
| UBS | 13F | 1.9% | Jun 30, 2026 | Q4 2019 or earlier |
| Norges Bank | 13F | 1.2% | Jun 30, 2026 | Q4 2019 or earlier |
| Nuveen | 13F | 1.1% | Jun 30, 2026 | Q4 2019 or earlier |
| Northern Trust | 13F | 1.1% | Jun 30, 2026 | Q4 2019 or earlier |
| Goldman Sachs | 13F | 0.97% | Jun 30, 2026 | Q4 2019 or earlier |
| ROYAL BANK OF CANADA | 13F | 0.85% | Jun 30, 2026 | Q4 2019 or earlier |
| Ameriprise Financial, Inc. | 13F | 0.80% | Jun 30, 2026 | Q4 2019 or earlier |
| Charles Schwab | 13F | 0.78% | Jun 30, 2026 | Q4 2019 or earlier |
| WELLS FARGO & COMPANY/MN | 13F | 0.73% | Jun 30, 2026 | Q4 2019 or earlier |
| Legal & General | 13F | 0.71% | Jun 30, 2026 | Q4 2019 or earlier |
| Fisher Asset Management, LLC | 13F | 0.70% | Jun 30, 2026 | Q4 2020 |
| Amundi | 13F | 0.66% | Jun 30, 2026 | Q4 2019 or earlier |
| FIRST TRUST ADVISORS LP | 13F | 0.64% | Jun 30, 2026 | Q4 2019 or earlier |
| BNY | 13F | 0.56% | Jun 30, 2026 | Q4 2019 or earlier |
| Deutsche Bank | 13F | 0.53% | Jun 30, 2026 | Q4 2019 or earlier |
| T. Rowe Price | 13F | 0.51% | Jun 30, 2026 | Q4 2019 or earlier |
Palo Alto Networks institutional ownership over time
| Quarter | 13F managers | Share of the company (upper bound) | Value declared | Held by stock pickers |
|---|---|---|---|---|
| Q4 2019 | 782 | 80.6% | $17.8B | 60.8% |
| Q4 2020 | 909 | 84.8% | $28.7B | 60.7% |
| Q4 2021 | 1,196 | 83.6% | $45.9B | 60.5% |
| Q4 2022 | 1,352 | 83.0% | $35.0B | 60.3% |
| Q4 2023 | 1,825 | 82.1% | $76.3B | 50.1% |
| Q4 2024 | 2,270 | 77.8% | $92.9B | 43.6% |
| Q4 2025 | 2,517 | 83.2% | $106.8B | 42.4% |
| Q2 2026 | 2,880 | 81.9% | $227.2B | 41.8% |
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.