Palo Alto Networks, Inc.
CH ˙ SWX ˙ US6974351057
SecurityCH:PANW / Palo Alto Networks, Inc.
InstitutionUtah Retirement Systems
Latest Disclosed Ownership130,056 shares
Latest Disclosed Value $ 20,850,578
Utah Retirement Systems reports 18.98% increase in ownership of PANW / Palo Alto Networks, Inc.

On May 15, 2026 - Utah Retirement Systems filed a 13F-HR form disclosing ownership of 130,056 shares of Palo Alto Networks, Inc. (CH:PANW) valued at $20,850,578 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 109,307 shares of Palo Alto Networks, Inc.. This represents a change in shares of 18.98% 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)
2026-05-15 2026-03-31 13F PALO ALTO NETWORKS COM 697435105 130,056 20,749 18.98 20,851 3.56 0.2131
2026-02-17 2025-12-31 13F PALO ALTO NETWORKS COM 697435105 109,307 755 0.70 20,134 -8.91 0.1916
2025-11-14 2025-09-30 13F PALO ALTO NETWORKS COM 697435105 108,552 1,140 1.06 22,103 0.56 0.2147
2025-08-14 2025-06-30 13F PALO ALTO NETWORKS COM 697435105 107,412 -98 -0.09 21,981 19.81 0.2295
2025-05-15 2025-03-31 13F PALO ALTO NETWORKS COM 697435105 107,510 0 0.00 18,346 -6.22 0.2116
2025-02-14 2024-12-31 13F PALO ALTO NETWORKS COM 697435105 107,510 56,555 110.99 19,563 12.32 0.2155
2024-11-14 2024-09-30 13F PALO ALTO NETWORKS COM 697435105 50,955 149 0.29 17,416 1.12 0.1965
2024-08-14 2024-06-30 13F PALO ALTO NETWORKS COM 697435105 50,806 -2,850 -5.31 17,224 12.97 0.2045
2024-05-15 2024-03-31 13F PALO ALTO NETWORKS COM 697435105 53,656 800 1.51 15,245 -2.19 0.1783
2024-02-14 2023-12-31 13F PALO ALTO NETWORKS COM 697435105 52,856 900 1.73 15,586 27.96 0.1985
2023-11-14 2023-09-30 13F PALO ALTO NETWORKS COM 697435105 51,956 800 1.56 12,181 -6.81 0.1741
2023-08-14 2023-06-30 13F PALO ALTO NETWORKS COM 697435105 51,156 -1,400 -2.66 13,071 24.51 0.1812
2023-05-16 2023-03-31 13F PALO ALTO NETWORKS COM 697435105 52,556 300 0.57 10,498 43.97 0.1518
2023-02-15 2022-12-31 13F PALO ALTO NETWORKS COM 697435105 52,256 200 0.38 7,292 -14.49 0.1156
2022-11-14 2022-09-30 13F PALO ALTO NETWORKS COM 697435105 52,056 34,850 202.55 8,526 0.33 0.1422
2022-08-16 2022-06-30 13F PALO ALTO NETWORKS COM 697435105 17,206 -27 -0.16 8,498 -20.78 0.1361
2022-05-13 2022-03-31 13F PALO ALTO NETWORKS COM 697435105 17,233 -20 -0.12 10,727 11.67 0.1428
2022-02-14 2021-12-31 13F PALO ALTO NETWORKS COM 697435105 17,253 38 0.22 9,606 16.49 0.1187
2021-11-16 2021-09-30 13F PALO ALTO NETWORKS COM 697435105 17,215 -969 -5.33 8,246 22.20 0.1115
2021-08-16 2021-06-30 13F PALO ALTO NETWORKS COM 697435105 18,184 0 0.00 6,748 15.21 0.0869
2021-05-17 2021-03-31 13F PALO ALTO NETWORKS COM 697435105 18,184 -464 -2.49 5,857 -11.62 0.0816
2021-02-16 2020-12-31 13F PALO ALTO NETWORKS COM 697435105 18,648 500 2.76 6,627 49.22 0.0941
2020-11-16 2020-09-30 13F PALO ALTO NETWORKS COM 697435105 18,148 -500 -2.68 4,441 3.69 0.0737
2020-08-13 2020-06-30 13F/A-1 PALO ALTO NETWORKS COM 697435105 18,648 600 3.32 4,283 44.74 0.0786
2020-08-13 2020-06-30 13F PALO ALTO NETWORKS COM 697435105 18,648 600 4,283 78,610.3785
2020-05-15 2020-03-31 13F PALO ALTO NETWORKS COM 697435105 18,048 0 0.00 2,959 -29.11 0.0640
2020-02-12 2019-12-31 13F PALO ALTO NETWORKS COM 697435105 18,048 300 1.69 4,174 15.37 0.0734
2019-11-14 2019-09-30 13F PALO ALTO NETWORKS COM 697435105 17,748 400 2.31 3,618 2.35 0.0688
2019-08-14 2019-06-30 13F PALO ALTO NETWORKS COM 697435105 17,348 217 1.27 3,535 -15.04 0.0677
2019-05-15 2019-03-31 13F PALO ALTO NETWORKS COM 697435105 17,131 431 2.58 4,161 32.26 0.0825
2019-02-08 2018-12-31 13F PALO ALTO NETWORKS COM 697435105 16,700 0 0.00 3,146 -16.37 0.0711
2018-11-13 2018-09-30 13F PALO ALTO NETWORKS COM 697435105 16,700 300 1.83 3,762 11.67 0.0729
2018-08-10 2018-06-30 13F PALO ALTO NETWORKS COM 697435105 16,400 -100 -0.61 3,369 12.49 0.0697
2018-05-15 2018-03-31 13F PALO ALTO NETWORKS COM 697435105 16,500 0 0.00 2,995 25.26 0.0637
2018-02-14 2017-12-31 13F PALO ALTO NETWORKS COM 697435105 16,500 200 1.23 2,391 1.79 0.0503
2017-11-13 2017-09-30 13F PALO ALTO NETWORKS COM 697435105 16,300 100 0.62 2,349 8.40 0.0528
2017-08-08 2017-06-30 13F PALO ALTO NETWORKS COM 697435105 16,200 300 1.89 2,167 20.99 0.0505
2017-05-11 2017-03-31 13F PALO ALTO NETWORKS COM 697435105 15,900 0 0.00 1,791 -9.95 0.0428
2017-02-10 2016-12-31 13F PALO ALTO NETWORKS COM 697435105 15,900 0 0.00 1,989 -21.51 0.0500
2016-11-07 2016-09-30 13F PALO ALTO NETWORKS COM 697435105 15,900 0 0.00 2,534 29.95 0.0656
2016-08-03 2016-06-30 13F PALO ALTO NETWORKS COM 697435105 15,900 2,200 16.06 1,950 -12.75 0.0520
2016-05-10 2016-03-31 13F PALO ALTO NETWORKS COM 697435105 13,700 700 5.38 2,235 -2.40 0.0606
2016-02-11 2015-12-31 13F PALO ALTO NETWORKS COM 697435105 13,000 0 0.00 2,290 2.42 0.0621
2015-11-03 2015-09-30 13F PALO ALTO NETWORKS COM 697435105 13,000 0 0.00 2,236 -1.54 0.0640
2015-08-11 2015-06-30 13F PALO ALTO NETWORKS COM 697435105 13,000 3,200 32.65 2,271 58.59 0.0604
2015-05-14 2015-03-31 13F PALO ALTO NETWORKS COM 697435105 9,800 300 3.16 1,432 22.92 0.0376
2015-02-11 2014-12-31 13F PALO ALTO NETWORKS COM 697435105 9,500 100 1.06 1,165 26.36 0.0320
2014-11-06 2014-09-30 13F PALO ALTO NETWORKS COM 697435105 9,400 400 4.44 922 22.12 0.0264
2014-08-08 2014-06-30 13F PALO ALTO NETWORKS COM 697435105 9,000 3,000 50.00 755 83.70 0.0216
2014-05-08 2014-03-31 13F PALO ALTO NETWORKS COM 697435105 6,000 100 1.69 411 21.24 0.0119
2014-02-05 2013-12-31 13F PALO ALTO NETWORKS COM 697435105 5,900 0 0.00 339 25.09 0.0100
2013-11-06 2013-09-30 13F PALO ALTO NETWORKS COM 697435105 5,900 -100 -1.67 271 7.11 0.0088
2013-08-02 2013-06-30 13F PALO ALTO NETWORKS COM 697435105 6,000 6,000 253 0.0085
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.