Nissay Asset Management Corp /japan/ /adv reports 21.62% increase in ownership of PANW / Palo Alto Networks, Inc.

Palo Alto Networks, Inc.

CH ˙ SWX ˙ US6974351057

Security	CH:PANW / Palo Alto Networks, Inc.
Institution	Nissay Asset Management Corp /japan/ /adv
Latest Disclosed Ownership	225,763 shares
Latest Disclosed Value	$ 36,194,324

On May 15, 2026 - Nissay Asset Management Corp /japan/ /adv filed a 13F-HR form disclosing ownership of 225,763 shares of Palo Alto Networks, Inc. (CH:PANW) valued at $36,194,324 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 185,634 shares of Palo Alto Networks, Inc.. This represents a change in shares of 21.62% 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	Reported Shares	ΔShares	ΔShares (%)	Reported Value (x1000)	ΔValue (%)	Alloc (%)
2026-05-15	2026-03-31	13F	PALO ALTO NETWORKS	COM	697435105	225,763	40,129	21.62	36,194	5.85	0.1918
2026-02-17	2025-12-31	13F	PALO ALTO NETWORKS	COM	697435105	185,634	13,906	8.10	34,194	-2.21	0.1779
2025-11-14	2025-09-30	13F	PALO ALTO NETWORKS	COM	697435105	171,728	3,242	1.92	34,967	1.42	0.1931
2025-08-14	2025-06-30	13F	PALO ALTO NETWORKS	COM	697435105	168,486	4,193	2.55	34,479	22.99	0.2018
2025-05-15	2025-03-31	13F	PALO ALTO NETWORKS	COM	697435105	164,293	15,898	10.71	28,035	1.47	0.1822
2025-02-14	2024-12-31	13F	PALO ALTO NETWORKS	COM	697435105	148,395	78,081	111.05	27,628	14.96	0.1685
2024-11-14	2024-09-30	13F	PALO ALTO NETWORKS	COM	697435105	70,314	5,739	8.89	24,033	9.78	0.1522
2024-08-14	2024-06-30	13F	PALO ALTO NETWORKS	COM	697435105	64,575	8,563	15.29	21,892	37.56	0.1449
2024-05-15	2024-03-31	13F	PALO ALTO NETWORKS	COM	697435105	56,012	13,483	31.70	15,915	26.91	0.1103
2024-02-14	2023-12-31	13F	PALO ALTO NETWORKS	COM	697435105	42,529	4,684	12.38	12,541	41.34	0.1009
2023-11-14	2023-09-30	13F	PALO ALTO NETWORKS	COM	697435105	37,845	3,109	8.95	8,872	-0.03	0.0786
2023-08-14	2023-06-30	13F	PALO ALTO NETWORKS	COM	697435105	34,736	274	0.80	8,875	28.94	0.0766
2023-05-15	2023-03-31	13F	PALO ALTO NETWORKS	COM	697435105	34,462	-707	-2.01	6,883	40.27	0.0615
2023-02-14	2022-12-31	13F	PALO ALTO NETWORKS	COM	697435105	35,169	-1,293	-3.55	4,907	-17.83	0.0469
2022-11-14	2022-09-30	13F	PALO ALTO NETWORKS	COM	697435105	36,462	24,818	213.14	5,972	3.84	0.0627
2022-08-15	2022-06-30	13F	PALO ALTO NETWORKS	COM	697435105	11,644	-131	-1.11	5,751	-21.54	0.0572
2022-05-16	2022-03-31	13F	PALO ALTO NETWORKS	COM	697435105	11,775	365	3.20	7,330	15.38	0.0639
2022-02-14	2021-12-31	13F	PALO ALTO NETWORKS	COM	697435105	11,410	299	2.69	6,353	19.37	0.0487
2021-11-10	2021-09-30	13F	PALO ALTO NETWORKS	COM	697435105	11,111	-84	-0.75	5,322	28.12	0.0451
2021-08-13	2021-06-30	13F	PALO ALTO NETWORKS	COM	697435105	11,195	1,566	16.26	4,154	33.96	0.0365
2021-05-11	2021-03-31	13F	PALO ALTO NETWORKS	COM	697435105	9,629	-367	-3.67	3,101	-12.70	0.0306
2021-02-08	2020-12-31	13F	PALO ALTO NETWORKS	COM	697435105	9,996	36	0.36	3,552	45.69	0.0534
2020-10-20	2020-09-30	13F	PALO ALTO NETWORKS	COM	697435105	9,960	-2,820	-22.07	2,438	-16.93	0.0412
2020-07-27	2020-06-30	13F	PALO ALTO NETWORKS	COM	697435105	12,780	-110	-0.85	2,935	38.90	0.0570
2020-05-05	2020-03-31	13F	PALO ALTO NETWORKS	COM	697435105	12,890	430	3.45	2,113	-26.66	0.0538
2020-02-14	2019-12-31	13F	PALO ALTO NETWORKS	COM	697435105	12,460	-847	-6.37	2,881	6.23	0.0640
2019-11-14	2019-09-30	13F	PALO ALTO NETWORKS	COM	697435105	13,307	695	5.51	2,712	5.53	0.0671
2019-08-07	2019-06-30	13F	PALO ALTO NETWORKS	COM	697435105	12,612	-443	-3.39	2,570	-18.95	0.0650
2019-05-03	2019-03-31	13F	PALO ALTO NETWORKS	COM	697435105	13,055	-644	-4.70	3,171	22.91	0.0838
2019-02-06	2018-12-31	13F	PALO ALTO NETWORKS	COM	697435105	13,699	49	0.36	2,580	-16.10	0.0786
2018-10-30	2018-09-30	13F	PALO ALTO NETWORKS	COM	697435105	13,650	6,762	98.17	3,075	117.31	0.0827
2018-08-08	2018-06-30	13F	PALO ALTO NETWORKS	COM	697435105	6,888	780	12.77	1,415	27.59	0.0414
2018-05-14	2018-03-31	13F	PALO ALTO NETWORKS	COM	697435105	6,108	84	1.39	1,109	27.03	0.0347
2018-02-14	2017-12-31	13F	PALO ALTO NETWORKS	COM	697435105	6,024	6,024		873		0.0266

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.