Palo Alto Networks, Inc.
CH ˙ SWX ˙ US6974351057
SecurityCH:PANW / Palo Alto Networks, Inc.
InstitutionBanco Santander, S.A.
Latest Disclosed Ownership96,070 shares
Latest Disclosed Value $ 15,401,943
Banco Santander, S.A. reports 23.27% decrease in ownership of PANW / Palo Alto Networks, Inc.

On May 8, 2026 - Banco Santander, S.A. filed a 13F-HR form disclosing ownership of 96,070 shares of Palo Alto Networks, Inc. (CH:PANW) valued at $15,401,943 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 125,202 shares of Palo Alto Networks, Inc.. This represents a change in shares of -23.27% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-08 2026-03-31 13F PALO ALTO NETWORKS COM 697435105 96,070 -29,132 -23.27 15,402 -33.22 0.0728
2026-02-13 2025-12-31 13F PALO ALTO NETWORKS COM 697435105 125,202 81,856 188.84 23,062 161.30 0.1727
2025-11-12 2025-09-30 13F PALO ALTO NETWORKS COM 697435105 43,346 9,160 26.79 8,826 26.18 0.0784
2025-08-01 2025-06-30 13F PALO ALTO NETWORKS COM 697435105 34,186 2,964 9.49 6,996 31.31 0.0664
2025-05-09 2025-03-31 13F PALO ALTO NETWORKS COM 697435105 31,222 5,815 22.89 5,328 15.23 0.0588
2025-02-07 2024-12-31 13F PALO ALTO NETWORKS COM 697435105 25,407 15,096 146.41 4,623 31.19 0.0556
2024-11-12 2024-09-30 13F PALO ALTO NETWORKS COM 697435105 10,311 -2,893 -21.91 3,524 -21.27 0.0415
2024-07-29 2024-06-30 13F PALO ALTO NETWORKS COM 697435105 13,204 -4,284 -24.50 4,476 -9.90 0.0555
2024-05-10 2024-03-31 13F PALO ALTO NETWORKS COM 697435105 17,488 -4,159 -19.21 4,969 -22.17 0.0599
2024-02-09 2023-12-31 13F PALO ALTO NETWORKS COM 697435105 21,647 -941 -4.17 6,383 20.55 0.0754
2023-11-08 2023-09-30 13F PALO ALTO NETWORKS COM 697435105 22,588 10,207 82.44 5,296 67.40 0.0751
2023-08-14 2023-06-30 13F PALO ALTO NETWORKS COM 697435105 12,381 0 0.00 3,163 27.95 0.0415
2023-05-10 2023-03-31 13F PALO ALTO NETWORKS COM 697435105 12,381 0 0.00 2,473 43.14 0.0370
2023-02-13 2022-12-31 13F PALO ALTO NETWORKS COM 697435105 12,381 0 0.00 1,728 -14.84 0.0259
2022-11-08 2022-09-30 13F PALO ALTO NETWORKS COM 697435105 12,381 7,820 171.45 2,028 -9.99 0.0271
2022-07-28 2022-06-30 13F PALO ALTO NETWORKS COM 697435105 4,561 3,966 666.55 2,253 508.92 0.0300
2022-05-09 2022-03-31 13F PALO ALTO NETWORKS COM 697435105 595 -1,634 -73.31 370 -70.19 0.0040
2022-02-09 2021-12-31 13F PALO ALTO NETWORKS COM 697435105 2,229 -610 -21.49 1,241 -8.75 0.0067
2021-11-08 2021-09-30 13F PALO ALTO NETWORKS COM 697435105 2,839 1,242 77.77 1,360 129.34 0.0073
2021-07-29 2021-06-30 13F PALO ALTO NETWORKS COM 697435105 1,597 -3,821 -70.52 593 -66.02 0.0033
2021-05-10 2021-03-31 13F PALO ALTO NETWORKS COM 697435105 5,418 29 0.54 1,745 -8.88 0.0123
2021-02-12 2020-12-31 13F PALO ALTO NETWORKS COM 697435105 5,389 -1,169 -17.83 1,915 19.31 0.0137
2020-11-09 2020-09-30 13F PALO ALTO NETWORKS COM 697435105 6,558 -473 -6.73 1,605 -0.62 0.0211
2020-08-05 2020-06-30 13F PALO ALTO NETWORKS COM 697435105 7,031 -473 -6.30 1,615 31.30 0.0209
2020-05-11 2020-03-31 13F PALO ALTO NETWORKS COM 697435105 7,504 6,069 422.93 1,230 270.48 0.0141
2020-02-07 2019-12-31 13F PALO ALTO NETWORKS COM 697435105 1,435 1,435 -80.88 332 -73.01 0.0031
2019-11-06 2019-09-30 13F PALO ALTO NETWORKS COM 697435105 0 -4,817 -100.00 0 -100.00
2019-08-07 2019-06-30 13F PALO ALTO NETWORKS COM 697435105 4,817 1,277 36.07 981 14.20 0.0100
2019-05-13 2019-03-31 13F PALO ALTO NETWORKS COM 697435105 3,540 -697 -16.45 859 7.64 0.0097
2019-02-12 2018-12-31 13F PALO ALTO NETWORKS COM 697435105 4,237 282 7.13 798 -10.44 0.0101
2018-11-13 2018-09-30 13F PALO ALTO NETWORKS COM 697435105 3,955 1,326 50.44 891 65.00 0.0102
2018-08-14 2018-06-30 13F PALO ALTO NETWORKS COM 697435105 2,629 466 21.54 540 37.40 0.0063
2018-05-14 2018-03-31 13F PALO ALTO NETWORKS COM 697435105 2,163 2,163 -17.73 393 -27.22 0.0046
2018-02-14 2017-12-31 13F PALO ALTO NETWORKS COM 697435105 0 -4,852 -100.00 0 -100.00
2017-11-13 2017-09-30 13F PALO ALTO NETWORKS COM 697435105 4,852 -282 -5.49 696 1.31 0.0115
2017-08-11 2017-06-30 13F PALO ALTO NETWORKS COM 697435105 5,134 5,134 687 0.0135
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.