Palo Alto Networks, Inc.
CH ˙ SWX ˙ US6974351057
SecurityCH:PANW / Palo Alto Networks, Inc.
InstitutionBelpointe Asset Management LLC
Latest Disclosed Ownership5,739 shares
Latest Disclosed Value $ 920,211
Belpointe Asset Management LLC reports 22.27% decrease in ownership of PANW / Palo Alto Networks, Inc.

On April 28, 2026 - Belpointe Asset Management LLC filed a 13F-HR form disclosing ownership of 5,739 shares of Palo Alto Networks, Inc. (CH:PANW) valued at $920,211 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 27, 2026 disclosing 7,383 shares of Palo Alto Networks, Inc.. This represents a change in shares of -22.27% 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)
2026-04-28 2026-03-31 13F PALO ALTO NETWORKS COM 697435105 5,739 -1,644 -22.27 920 -32.30 0.0336
2026-01-27 2025-12-31 13F PALO ALTO NETWORKS COM 697435105 7,383 -7,596 -50.71 1,360 -55.44 0.0491
2025-11-03 2025-09-30 13F PALO ALTO NETWORKS COM 697435105 14,979 4,186 38.78 3,050 38.13 0.1165
2025-07-22 2025-06-30 13F PALO ALTO NETWORKS COM 697435105 10,793 5,515 104.49 2,209 145.33 0.0920
2025-05-20 2025-03-31 13F PALO ALTO NETWORKS COM 697435105 5,278 1,493 39.45 901 -34.40 0.0469
2025-02-13 2024-12-31 13F PALO ALTO NETWORKS COM 697435105 3,785 799 26.76 1,373 34.51 0.0827
2024-11-13 2024-09-30 13F PALO ALTO NETWORKS COM 697435105 2,986 -5,164 -63.36 1,021 -63.07 0.0612
2024-08-02 2024-06-30 13F PALO ALTO NETWORKS COM 697435105 8,150 3,975 95.21 2,763 132.88 0.1927
2024-05-08 2024-03-31 13F PALO ALTO NETWORKS COM 697435105 4,175 -100 -2.34 1,186 -5.87 0.0888
2024-02-13 2023-12-31 13F PALO ALTO NETWORKS COM 697435105 4,275 1,099 34.60 1,261 69.35 0.1107
2023-11-15 2023-09-30 13F PALO ALTO NETWORKS COM 697435105 3,176 -333 -9.49 745 -16.96 0.0771
2023-08-15 2023-06-30 13F PALO ALTO NETWORKS COM 697435105 3,509 -6,849 -66.12 897 -56.67 0.0948
2023-05-15 2023-03-31 13F PALO ALTO NETWORKS COM 697435105 10,358 -2,611 -20.13 2,069 14.32 0.1117
2023-02-08 2022-12-31 13F PALO ALTO NETWORKS COM 697435105 12,969 -3,645 -21.94 1,810 -33.54 0.1093
2022-11-14 2022-09-30 13F PALO ALTO NETWORKS COM 697435105 16,614 10,597 176.12 2,722 -8.41 0.1840
2022-08-02 2022-06-30 13F PALO ALTO NETWORKS COM 697435105 6,017 1,186 24.55 2,972 -1.20 0.1992
2022-04-28 2022-03-31 13F PALO ALTO NETWORKS COM 697435105 4,831 459 10.50 3,008 23.58 0.1823
2022-02-15 2021-12-31 13F PALO ALTO NETWORKS COM 697435105 4,372 268 6.53 2,434 23.80 0.1517
2021-11-15 2021-09-30 13F PALO ALTO NETWORKS COM 697435105 4,104 -239 -5.50 1,966 21.96 0.1340
2021-08-09 2021-06-30 13F PALO ALTO NETWORKS COM 697435105 4,343 587 15.63 1,612 33.33 0.1160
2021-05-14 2021-03-31 13F PALO ALTO NETWORKS COM 697435105 3,756 -927 -19.80 1,209 -27.39 0.1035
2021-02-16 2020-12-31 13F PALO ALTO NETWORKS COM 697435105 4,683 3,937 527.75 1,665 809.84 0.1494
2020-11-13 2020-09-30 13F/A-1 PALO ALTO NETWORKS COM 697435105 746 7 0.95 183 7.65 0.0204
2020-11-13 2020-09-30 13F PALO ALTO NETWORKS COM 697435105 654 107
2020-07-20 2020-06-30 13F PALO ALTO NETWORKS COM 697435105 739 85 13.00 170 58.88 0.0220
2020-07-20 2020-03-31 13F PALO ALTO NETWORKS COM 697435105 654 -2,195 -77.04 107 -83.76 0.0187
2020-02-18 2019-12-31 13F PALO ALTO NETWORKS COM 697435105 2,849 179 6.70 659 21.14 0.0836
2020-01-16 2019-09-30 13F PALO ALTO NETWORKS COM 697435105 2,670 -225 -7.77 544 -7.80 0.0880
2019-11-22 2019-06-30 13F PALO ALTO NETWORKS COM 697435105 2,895 -1,331 -31.50 590 -42.50 0.1161
2019-06-11 2019-03-31 13F PALO ALTO NETWORKS COM 697435105 4,226 3,461 452.42 1,026 612.50 0.2004
2019-03-06 2018-12-31 13F PALO ALTO NETWORKS COM 697435105 765 188 32.58 144 10.77 0.0365
2018-11-23 2018-09-30 13F PALO ALTO NETWORKS COM 697435105 577 577 130 0.0206
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.