Palo Alto Networks, Inc.
CH ˙ SWX ˙ US6974351057
SecurityCH:PANW / Palo Alto Networks, Inc.
InstitutionModus Advisors, LLC
Latest Disclosed Ownership28,145 shares
Latest Disclosed Value $ 4,512,206
Modus Advisors, LLC reports 16.50% decrease in ownership of PANW / Palo Alto Networks, Inc.

On May 4, 2026 - Modus Advisors, LLC filed a 13F-HR form disclosing ownership of 28,145 shares of Palo Alto Networks, Inc. (CH:PANW) valued at $4,512,206 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 11, 2026 disclosing 33,707 shares of Palo Alto Networks, Inc.. This represents a change in shares of -16.50% 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)
2026-05-04 2026-03-31 13F PALO ALTO NETWORKS INC COM Stock 697435105 28,145 -5,562 -16.50 4,512 -27.32 1.2421
2026-02-11 2025-12-31 13F PALO ALTO NETWORKS INC COM Stock 697435105 33,707 -4,111 -10.87 6,209 -19.38 1.6376
2025-11-05 2025-09-30 13F PALO ALTO NETWORKS INC COM Stock 697435105 37,818 79 0.21 7,701 -0.28 2.0946
2025-07-07 2025-06-30 13F PALO ALTO NETWORKS INC COM Stock 697435105 37,739 381 1.02 7,723 21.15 2.2944
2025-04-01 2025-03-31 13F PALO ALTO NETWORKS INC COM Stock 697435105 37,358 43 0.12 6,375 -6.11 2.0872
2025-01-03 2024-12-31 13F PALO ALTO NETWORKS INC COM Stock 697435105 37,315 18,703 100.49 6,790 6.73 2.1270
2024-10-09 2024-09-30 13F PALO ALTO NETWORKS INC COM Stock 697435105 18,612 130 0.70 6,362 1.53 2.0899
2024-07-02 2024-06-30 13F PALO ALTO NETWORKS INC COM Stock 697435105 18,482 374 2.07 6,266 21.77 2.2163
2024-04-02 2024-03-31 13F PALO ALTO NETWORKS INC COM Stock 697435105 18,108 292 1.64 5,145 -2.06 1.9048
2024-01-04 2023-12-31 13F PALO ALTO NETWORKS INC COM Stock 697435105 17,816 298 1.70 5,254 27.93 2.1324
2023-10-20 2023-09-30 13F PALO ALTO NETWORKS INC COM Stock 697435105 17,518 140 0.81 4,107 -7.52 1.7913
2023-07-05 2023-06-30 13F PALO ALTO NETWORKS INC COM Stock 697435105 17,378 178 1.03 4,440 29.26 1.9064
2023-04-04 2023-03-31 13F PALO ALTO NETWORKS INC COM Stock 697435105 17,200 -200 -1.15 3,436 41.53 1.5819
2023-01-05 2022-12-31 13F PALO ALTO NETWORKS INC COM Stock 697435105 17,400 263 1.53 2,428 -13.54 1.1760
2022-10-05 2022-09-30 13F PALO ALTO NETWORKS INC COM Stock 697435105 17,137 11,476 202.72 2,807 0.39 1.4769
2022-07-05 2022-06-30 13F PALO ALTO NETWORKS INC COM Stock 697435105 5,661 45 0.80 2,796 -20.02 1.4151
2022-04-05 2022-03-31 13F PALO ALTO NETWORKS INC COM Stock 697435105 5,616 277 5.19 3,496 17.59 1.5330
2022-01-04 2021-12-31 13F PALO ALTO NETWORKS INC COM Stock 697435105 5,339 -584 -9.86 2,973 4.79 1.2652
2021-10-08 2021-09-30 13F PALO ALTO NETWORKS INC COM Stock 697435105 5,923 58 0.99 2,837 30.38 1.2276
2021-07-01 2021-06-30 13F PALO ALTO NETWORKS INC COM Stock 697435105 5,865 -90 -1.51 2,176 13.45 0.9154
2021-04-05 2021-03-31 13F PALO ALTO NETWORKS INC COM Stock 697435105 5,955 424 7.67 1,918 -2.44 0.8886
2021-01-08 2020-12-31 13F PALO ALTO NETWORKS INC COM Stock 697435105 5,531 425 8.32 1,966 57.28 1.0169
2020-10-01 2020-09-30 13F PALO ALTO NETWORKS INC COM Stock 697435105 5,106 3,538 225.64 1,250 247.22 0.7181
2020-07-01 2020-06-30 13F PALO ALTO NETWORKS INC COM Stock 697435105 1,568 1,568 360 0.2348
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.