Who owns Zscaler (ZS)?
119 holders named in SEC filings declare between 54.4% and 63.4% of Zscaler's shares outstanding, as of Sep 16, 2026. The largest are Jagtar Singh Chaudhry (16.5%), Vanguard (7.2%) and BlackRock (6.1%); the five largest hold 33.9% together. Another 627 institutions hold small positions worth 4.1%. At least 32.5% 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 9.5% and sold 13.7% of the shares, a net sale of 4.2%; 118 opened a position, 276 added, 241 reduced and 127 sold out. Biggest buyers: Jericho Capital Asset Management L.P. (+1.4M shares) and BlackRock (+1.3M shares). Biggest sellers: Invesco (-4.2M) and T. Rowe Price (-2.8M). Schedule 13D/G filings since Mar 31, 2026: BlackRock, Inc. crossed 5% (5.1%) on Jun 30, 2026. Directors and officers, from their latest Form 4: Jagtar Singh Chaudhry (16.5%). Over time, 735 managers declared Zscaler in their 13F for Q2 2026, against 239 for Q4 2019: together at most 51.2% of the shares outstanding, against 38.6%.
| Holder | Filing | Share of capital | As of | Holding since (13F) |
|---|---|---|---|---|
| Jagtar Singh Chaudhry | Form 4 | 16.5% | Sep 16, 2026 | — |
| Vanguard | 13F | 7.2% | Jun 30, 2026 | Q4 2019 or earlier |
| BlackRock | 13F | 6.1% | Jun 30, 2026 | Q4 2019 or earlier |
| FIRST TRUST ADVISORS LP | 13F | 2.2% | Jun 30, 2026 | Q4 2019 or earlier |
| Goldman Sachs | 13F | 1.9% | Jun 30, 2026 | Q4 2019 or earlier |
| UBS | 13F | 1.6% | Jun 30, 2026 | Q4 2019 or earlier |
| State Street | 13F | 1.5% | Jun 30, 2026 | Q4 2019 or earlier |
| PICTET ASSET MANAGEMENT SA | 13F | 1.3% | Jun 30, 2026 | Q3 2023 |
| Geode Capital | 13F | 1.3% | Jun 30, 2026 | Q4 2019 or earlier |
| Victory Capital Management, Inc. | 13F | 1.0% | Jun 30, 2026 | Q4 2019 or earlier |
| AQR | 13F | 0.84% | Jun 30, 2026 | Q4 2019 or earlier |
| Jericho Capital Asset Management L.P. | 13F | 0.84% | Jun 30, 2026 | Q2 2026 |
| Amundi | 13F | 0.70% | Jun 30, 2026 | Q4 2019 or earlier |
| Morgan Stanley | 13F | 0.70% | Jun 30, 2026 | Q4 2019 or earlier |
| Millennium | 13F | 0.69% | Jun 30, 2026 | Q4 2019 or earlier |
| Wellington | 13F | 0.68% | Jun 30, 2026 | Q1 2023 |
| Citadel | 13F | 0.62% | Jun 30, 2026 | Q4 2019 or earlier |
| Barclays | 13F | 0.58% | Jun 30, 2026 | Q4 2019 or earlier |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | 13F | 0.54% | Jun 30, 2026 | Q1 2026 |
| American Century Companies, Inc. | 13F | 0.53% | Jun 30, 2026 | Q4 2020 |
| BNP PARIBAS FINANCIAL MARKETS | 13F | 0.48% | Jun 30, 2026 | Q4 2019 or earlier |
| Squarepoint Ops LLC | 13F | 0.47% | Jun 30, 2026 | Q2 2022 |
| CITIGROUP INC | 13F | 0.47% | Jun 30, 2026 | Q4 2019 or earlier |
| Penserra Capital Management LLC | 13F | 0.45% | Jun 30, 2026 | Q3 2020 |
| Connor, Clark & Lunn Investment Management Ltd. | 13F | 0.44% | Jun 30, 2026 | Q1 2026 |
Zscaler institutional ownership over time
| Quarter | 13F managers | Share of the company (upper bound) | Value declared | Held by stock pickers |
|---|---|---|---|---|
| Q4 2019 | 239 | 38.6% | $2.4B | 63.0% |
| Q4 2020 | 493 | 41.2% | $11.1B | 58.2% |
| Q4 2021 | 642 | 45.0% | $20.3B | 57.8% |
| Q4 2022 | 541 | 46.4% | $7.5B | 60.1% |
| Q4 2023 | 730 | 46.1% | $15.1B | 58.2% |
| Q4 2024 | 749 | 49.3% | $13.7B | 55.8% |
| Q4 2025 | 881 | 55.9% | $20.0B | 51.8% |
| Q2 2026 | 735 | 51.2% | $11.7B | 48.0% |
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.