Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in PANW held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 72.4M | $11.61B | +21.3% | 10.628% | 0.20% |
| 2 | VANGUARD CAPITAL MANAGEMENT LLC | 52.8M | $8.46B | — | 7.742% | 0.21% |
| 3 | STATE STREET CORP | 35.5M | $5.69B | +17.0% | 5.207% | 0.20% |
| 4 | MORGAN STANLEY | 32.3M | $5.18B | +6.1% | 4.742% | 0.31% |
| 5 | BANK OF AMERICA CORP /DE/ | 22.5M | $3.60B | +16.0% | 3.298% | 0.26% |
| 6 | VANGUARD PORTFOLIO MANAGEMENT LLC | 19.6M | $3.14B | — | 2.876% | 0.17% |
| 7 | GEODE CAPITAL MANAGEMENT, LLC | 19.3M | $3.09B | +20.8% | 2.835% | 0.19% |
| 8 | Kentucky Farm Bureau Mutual Insurance Co | 8K | $2.84B | — | 0.001% | 0.06% |
| 9 | UBS Group AG | 11.0M | $1.76B | +8.5% | 1.611% | 0.26% |
| 10 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 11.0M | $1.76B | -3.3% | 1.608% | 0.20% |
| 11 | NORTHERN TRUST CORP | 8.7M | $1.39B | +15.4% | 1.274% | 0.18% |
| 12 | FMR LLC | 8.1M | $1.30B | -0.4% | 1.189% | 0.07% |
| 13 | UBS ASSET MANAGEMENT AMERICAS INC | 8.1M | $1.29B | +32.3% | 1.185% | 0.27% |
| 14 | Nuveen, LLC | 8.0M | $1.28B | +10.8% | 1.173% | 0.35% |
| 15 | ROYAL BANK OF CANADA | 7.6M | $1.22B | -1.5% | 1.114% | 0.21% |
| 16 | CITADEL ADVISORS LLC | 7.0M | $1.12B | — | 1.029% | 0.52% |
| 17 | GOLDMAN SACHS GROUP INC | 6.9M | $1.11B | +20.9% | 1.017% | 0.13% |
| 18 | Invesco Ltd. | 6.8M | $1.09B | +15.9% | 1.001% | 0.17% |
| 19 | AMERIPRISE FINANCIAL INC | 6.5M | $1.04B | +23.2% | 0.954% | 0.24% |
| 20 | FIRST TRUST ADVISORS LP | 6.5M | $1.04B | +4.4% | 0.949% | 0.74% |
| 21 | Amundi | 6.3M | $1.01B | +67.1% | 0.924% | 0.28% |
| 22 | Legal & General Group Plc | 6.3M | $1.00B | +15.5% | 0.917% | 0.23% |
| 23 | CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 5.9M | $953.6M | +20.7% | 0.873% | 0.15% |
| 24 | Clearbridge Investments, LLC | 4.9M | $787.3M | -12.3% | 0.721% | 0.69% |
| 25 | Pictet Asset Management Holding SA | 4.8M | $770.5M | +10.4% | 0.706% | 0.82% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in PANW — a direct measure of their conviction.
Filings activity in PANW during Q1 2026, grouped by how each filer changed its position.
Institutions that opened a new PANW position in Q1 2026
Institutions that fully closed their PANW position in Q1 2026
8 quarters of 13F filings · Δ columns show change vs prior quarter
| Quarter | Inst. Holders | Δ Holders | Ownership % | Δ Ownership | Total 13F Value | Δ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 2,402 | 1.9% | 52.76% | 0.50 pp | $100.54B | 0.9% |
| Q4 2025 | 2,449 | +3.6% | 53.26% | 5.53 pp | $101.49B | 9.4% |
| Q3 2025 | 2,363 | +1.7% | 58.79% | +2.55 pp | $112.03B | +4.5% |
| Q2 2025 | 2,323 | +6.4% | 56.24% | +12.36 pp | $107.18B | +28% |
| Q1 2025 | 2,183 | 0.4% | 43.88% | 5.48 pp | $83.62B | 11% |
| Q4 2024 | 2,192 | +11% | 49.36% | +5.09 pp | $94.06B | +11% |
| Q3 2024 | 1,975 | +3.1% | 44.27% | 7.95 pp | $84.37B | 15% |
| Q2 2024 | 1,916 | — | 52.22% | — | $99.51B | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying PANW stock.
Based on Q1 2026 13F filings, institutional ownership of Palo Alto Networks, Inc. stands at 52.8%, held across 2,402 reporting institutions.
BlackRock, Inc. is the largest reported institutional holder of PANW, with approximately 72,431,433 shares worth $11.61B as of Q1 2026.
Yes — 2 widely-followed marquee investors appear among the top 25 institutional holders of PANW, including SUSQUEHANNA INTERNATIONAL GROUP, LLP, CITADEL ADVISORS LLC.
Our composite Smart Money Score for PANW is 41 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
296 institutions opened new positions in PANW during Q1 2026, while 343 fully exited. 622 added to existing positions and 1,473 trimmed.
PANW institutional ownership fell by 0.50 percentage points quarter-over-quarter, with a net change of -47 holders.
The top 10 institutions account for 46.9% of all reported 13F value in PANW, and the top 25 account for 63.2%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
Palo Alto Networks, Inc. (PANW) Institutional Ownership