Palo Alto Networks, Inc.
CH ˙ SWX ˙ US6974351057
SecurityCH:PANW / Palo Alto Networks, Inc.
InstitutionVictory Capital Management Inc
Latest Disclosed Ownership1,153,523 shares
Latest Disclosed Value $ 184,932,807
Victory Capital Management Inc reports 0.71% increase in ownership of PANW / Palo Alto Networks, Inc.

On May 15, 2026 - Victory Capital Management Inc filed a 13F-HR form disclosing ownership of 1,153,523 shares of Palo Alto Networks, Inc. (CH:PANW) valued at $184,932,807 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 1,145,405 shares of Palo Alto Networks, Inc.. This represents a change in shares of 0.71% 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 1,153,523 8,118 0.71 184,933 -12.35 0.0888
2026-02-13 2025-12-31 13F PALO ALTO NETWORKS COM 697435105 1,145,405 -1,322,287 -53.58 210,984 -57.99 0.1191
2025-11-12 2025-09-30 13F PALO ALTO NETWORKS COM 697435105 2,467,692 1,282,738 108.25 502,263 107.27 0.2937
2025-08-13 2025-06-30 13F PALO ALTO NETWORKS COM 697435105 1,184,954 261,456 28.31 242,323 53.77 0.1563
2025-05-02 2025-03-31 13F PALO ALTO NETWORKS COM 697435105 923,498 5,388 0.59 157,586 -5.67 0.1612
2025-02-06 2024-12-31 13F PALO ALTO NETWORKS COM 697435105 918,110 445,813 94.39 167,059 3.49 0.1642
2024-11-05 2024-09-30 13F PALO ALTO NETWORKS COM 697435105 472,297 -45,866 -8.85 161,431 -8.10 0.1555
2024-08-05 2024-06-30 13F PALO ALTO NETWORKS COM 697435105 518,163 39,282 8.20 175,662 29.10 0.1761
2024-05-03 2024-03-31 13F PALO ALTO NETWORKS COM 697435105 478,881 -40,410 -7.78 136,064 -11.14 0.1328
2024-02-05 2023-12-31 13F PALO ALTO NETWORKS COM 697435105 519,291 83,383 19.13 153,129 49.84 0.1611
2023-11-06 2023-09-30 13F PALO ALTO NETWORKS COM 697435105 435,908 -174,613 -28.60 102,194 -34.49 0.1175
2023-07-27 2023-06-30 13F PALO ALTO NETWORKS COM 697435105 610,521 45,910 8.13 155,994 38.32 0.1716
2023-05-02 2023-03-31 13F PALO ALTO NETWORKS COM 697435105 564,611 11,069 2.00 112,775 46.00 0.1267
2023-04-25 2022-12-31 13F/A-3 PALO ALTO NETWORKS COM 697435105 553,542 -845,871 -60.44 77,241 -66.30 0.0889
2023-03-10 2022-12-31 13F/A-2 PALO ALTO NETWORKS COM 697435105 1,177,542 -221,871 164,314 0.1794
2023-02-10 2022-12-31 13F/A-1 PALO ALTO NETWORKS COM 697435105 1,177,542 -221,871 164,314 0.0001
2023-02-09 2022-12-31 13F PALO ALTO NETWORKS COM 697435105 1,180,835 -218,578 181,822 0.1235
2022-11-02 2022-09-30 13F PALO ALTO NETWORKS COM 697435105 1,399,413 878,679 168.74 229,210 -10.89 0.2675
2022-08-01 2022-06-30 13F PALO ALTO NETWORKS COM 697435105 520,734 39,771 8.27 257,211 -8.90 0.2930
2022-05-04 2022-03-31 13F PALO ALTO NETWORKS COM 697435105 480,963 37,930 8.56 282,345 14.47 0.2825
2022-02-07 2021-12-31 13F PALO ALTO NETWORKS COM 697435105 443,033 -149,588 -25.24 246,663 -13.11 0.2269
2021-11-02 2021-09-30 13F PALO ALTO NETWORKS COM 697435105 592,621 61,430 11.56 283,866 44.02 0.2780
2021-08-03 2021-06-30 13F PALO ALTO NETWORKS COM 697435105 531,191 -27,851 -4.98 197,099 9.47 0.1892
2021-05-04 2021-03-31 13F PALO ALTO NETWORKS COM 697435105 559,042 145,334 35.13 180,045 22.46 0.1845
2021-02-01 2020-12-31 13F PALO ALTO NETWORKS COM 697435105 413,708 164,192 65.80 147,028 140.76 0.1638
2020-11-09 2020-09-30 13F Palo Alto Networks COM 697435105 249,516 -1,783 -0.71 61,069 5.81 0.0784
2020-08-07 2020-06-30 13F PALO ALTO NETWORKS COM 697435105 251,299 205,514 448.87 57,716 668.83 0.0782
2020-05-12 2020-03-31 13F/A-1 PALO ALTO NETWORKS COM 697435105 45,785 -79,762 -63.53 7,507 -74.14 0.0126
2020-05-04 2020-03-31 13F PALO ALTO NETWORKS COM 697435105 45,785 -79,762 7,507 8,215.6487
2020-02-06 2019-12-31 13F/A-1 PALO ALTO NETWORKS COM 697435105 125,547 -12,275 -8.91 29,033 3.35 0.0352
2020-02-04 2019-12-31 13F PALO ALTO NETWORKS COM 697435105 121,073 -16,749 28,426 34,073.9803
2019-11-12 2019-09-30 13F PALO ALTO NETWORKS COM 697435105 137,822 33,684 32.35 28,092 32.39 0.0361
2019-08-15 2019-06-30 13F PALO ALTO NETWORKS COM 697435105 104,138 -67,661 -39.38 21,219 -49.15 0.0428
2019-05-03 2019-03-31 13F PALO ALTO NETWORKS CS 697435105 171,799 -28,000 -14.01 41,727 10.88 0.0949
2019-05-02 2018-12-31 13F/A-1 PALO ALTO NETWORKS COM 697435105 199,799 9,401 4.94 37,632 -12.26 0.0945
2019-02-05 2018-12-31 13F PALO ALTO NETWORKS COM 697435105 199,799 9,401 37,632
2018-11-01 2018-09-30 13F PALO ALTO NETWORKS COM 697435105 190,398 -33,253 -14.87 42,889 -6.67 0.0885
2018-08-02 2018-06-30 13F PALO ALTO NETWORKS COM 697435105 223,651 -13,010 -5.50 45,954 6.97 0.0978
2018-05-04 2018-03-31 13F PALO ALTO NETWORKS COM 697435105 236,661 -15,177 -6.03 42,959 17.69 0.0937
2018-02-01 2017-12-31 13F PALO ALTO NETWORKS COM 697435105 251,838 -18,040 -6.68 36,501 -6.14 0.0768
2017-10-27 2017-09-30 13F PALO ALTO NETWORKS COM 697435105 269,878 -5,130 -1.87 38,889 5.68 0.0874
2017-08-07 2017-06-30 13F PALO ALTO NETWORKS COM 697435105 275,008 -91,536 -24.97 36,798 -10.91 0.0861
2017-05-10 2017-03-31 13F PALO ALTO NETWORKS COM 697435105 366,544 -84,568 -18.75 41,302 -26.78 0.0983
2017-02-09 2016-12-31 13F PALO ALTO NETWORKS COM 697435105 451,112 37,369 9.03 56,411 -14.43 0.1423
2016-11-02 2016-09-30 13F PALO ALTO NETWORKS COM 697435105 413,743 292,102 240.13 65,922 341.90 0.1846
2016-08-09 2016-06-30 13F PALO ALTO NETWORKS COM 697435105 121,641 -19,723 -13.95 14,918 -35.31 0.0597
2016-05-17 2016-03-31 13F/A-2 Palo Alto Networks COM 697435105 141,364 128,414 991.61 23,061 911.00 0.0952
2016-05-12 2016-03-31 13F/A-1 PALO ALTO NETWORKS COM 697435105 141,364 0 23,061 0.0946
2016-05-12 2016-03-31 13F PALO ALTO NETWORKS COM 697435105 141,364 23,061
2016-02-10 2015-12-31 13F PALO ALTO NETWORKS COM 697435105 12,950 12,950 0.00 2,281 0.0095
2015-11-06 2015-09-30 13F PALO ALTO NETWORKS COM 697435105 0 0 0 0.0000
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.