Zscaler, Inc.
MX ˙ BMV ˙ US98980G1022
SecurityMX:ZS / Zscaler, Inc.
InstitutionCommonwealth Equity Services, Llc
Latest Disclosed Ownership55,956 shares
Latest Disclosed Value $ 12,585,553
Commonwealth Equity Services, Llc reports 6.49% decrease in ownership of ZS / Zscaler, Inc.

On February 12, 2026 - Commonwealth Equity Services, Llc filed a 13F-HR form disclosing ownership of 55,956 shares of Zscaler, Inc. (MX:ZS) valued at $12,585,553 USD as of December 31, 2025. The entity filed a previous 13F-HR on October 22, 2025 disclosing 59,842 shares of Zscaler, Inc.. This represents a change in shares of -6.49% 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.

Upgrade to unlock premium data and export to Excel .

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)
2026-02-12 2025-12-31 13F ZSCALER COM 98980G102 55,956 -3,886 -6.49 12,586 73,929.41
2025-10-22 2025-09-30 13F ZSCALER COM 98980G102 59,842 -5,459 -8.36 18 -15.00 0.0232
2025-08-06 2025-06-30 13F ZSCALER COM 98980G102 65,301 418 0.64 20 66.67 0.0271
2025-05-09 2025-03-31 13F ZSCALER COM 98980G102 64,883 6,433 11.01 13 20.00 0.0182
2025-02-10 2024-12-31 13F ZSCALER COM 98980G102 58,450 -1,860 -3.08 11 0.00 0.0154
2024-10-18 2024-09-30 13F ZSCALER COM 98980G102 60,310 -18,108 -23.09 10 -33.33 0.0156
2024-07-31 2024-06-30 13F ZSCALER COM 98980G102 78,418 35,244 81.63 15 87.50 0.0239
2024-04-29 2024-03-31 13F ZSCALER COM 98980G102 43,174 2,102 5.12 8 -11.11 0.0138
2024-02-06 2023-12-31 13F ZSCALER COM 98980G102 41,072 2,002 5.12 9 50.00 0.0167
2023-10-23 2023-09-30 13F ZSCALER COM 98980G102 39,070 5,679 17.01 6 50.00 0.0126
2023-08-10 2023-06-30 13F ZSCALER COM 98980G102 33,391 1,680 5.30 5 33.33 0.0099
2023-05-11 2023-03-31 13F ZSCALER COM 98980G102 31,711 939 3.05 4 0.00 0.0078
2023-02-07 2022-12-31 13F ZSCALER COM 98980G102 30,772 -1,535 -4.75 3 -99.94 0.0083
2022-11-14 2022-09-30 13F ZSCALER COM 98980G102 32,307 3,727 13.04 5,310 24.27 0.0137
2022-07-19 2022-06-30 13F ZSCALER COM 98980G102 28,580 -2,813 -8.96 4,273 -43.58 0.0111
2022-05-04 2022-03-31 13F ZSCALER COM 98980G102 31,393 2,226 7.63 7,574 -19.18 0.0173
2022-01-31 2021-12-31 13F ZSCALER COM 98980G102 29,167 -1,374 -4.50 9,372 17.03 0.0211
2021-10-29 2021-09-30 13F ZSCALER COM 98980G102 30,541 2,453 8.73 8,008 31.97 0.0201
2021-08-11 2021-06-30 13F ZSCALER COM 98980G102 28,088 5,674 25.31 6,068 57.73 0.0154
2021-05-04 2021-03-31 13F ZSCALER COM 98980G102 22,414 -2,303 -9.32 3,847 -22.06 0.0109
2021-02-11 2020-12-31 13F ZSCALER COM 98980G102 24,717 2,356 10.54 4,936 56.95 0.0149
2020-11-05 2020-09-30 13F ZSCALER COM 98980G102 22,361 3,874 20.96 3,145 55.39 0.0107
2020-08-12 2020-06-30 13F ZSCALER COM 98980G102 18,487 2,523 15.80 2,024 108.44 0.0076
2020-05-11 2020-03-31 13F ZSCALER COM 98980G102 15,964 3,228 25.35 971 64.02 0.0045
2020-02-05 2019-12-31 13F ZSCALER COM 98980G102 12,736 4,202 49.24 592 46.90 0.0023
2019-10-30 2019-09-30 13F ZSCALER COM 98980G102 8,534 2,064 31.90 403 -18.59 0.0017
2019-07-19 2019-06-30 13F ZSCALER COM 98980G102 6,470 1,659 34.48 495 45.16 0.0022
2019-05-13 2019-03-31 13F ZSCALER COM 98980G102 4,811 4,811 341 0.0016
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.