Franklin Resources Inc reports 2.23% increase in ownership of ANET / Arista Networks, Inc.

Arista Networks, Inc.

US ˙ NYSE ˙ US0404132054

Security	ANET / Arista Networks, Inc.
Institution	Franklin Resources Inc
Latest Disclosed Ownership	8,053,919 shares
Latest Disclosed Value	$ 988,860,230

On May 13, 2026 - Franklin Resources Inc filed a 13F-HR form disclosing ownership of 8,053,919 shares of Arista Networks, Inc. (US:ANET) valued at $988,860,175 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 11, 2026 disclosing 7,878,360 shares of Arista Networks, Inc.. This represents a change in shares of 2.23% during the quarter. The current value of the position is $1,404,361,856 USD.

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 (%)
2026-05-13	2026-03-31	13F	ARISTA NETWORKS	COM SHS	040413205	8,053,919	175,559	2.23	988,860	-4.21	0.2422
2026-02-11	2025-12-31	13F	ARISTA NETWORKS	COM SHS	040413205	7,878,360	2,934,098	59.34	1,032,302	45.92	0.2533
2025-11-13	2025-09-30	13F	ARDELYX	COM	040413205	4,944,262	909,072	22.53	707,465	71.37	0.1764
2025-08-12	2025-06-30	13F	ARISTA NETWORKS	COM SHS	040413205	4,035,190	65,301	1.64	412,840	34.22	0.1095
2025-05-13	2025-03-31	13F	ARISTA NETWORKS	COM SHS	040413205	3,969,889	17,474	0.44	307,587	-29.59	0.0885
2025-02-12	2024-12-31	13F	ARISTA NETWORKS	COM SHS	040413205	3,952,415	2,972,823	303.48	436,860	7.86	0.1213
2024-11-27	2024-09-30	13F/A-1	ARISTA NETWORKS	COM	040413106	979,592	137,564	16.34	405,032	37.25	0.1137
2024-11-12	2024-09-30	13F	ARISTA NETWORKS	COM	040413106	979,592	137,564		405,032		0.0195
2024-08-14	2024-06-30	13F	ARISTA NETWORKS	COM	040413106	842,028	46,774	5.88	295,114	27.97	0.0907
2024-05-13	2024-03-31	13F	ARISTA NETWORKS	COM	040413106	795,254	23,239	3.01	230,608	26.83	0.0730
2024-02-09	2023-12-31	13F	ARISTA NETWORKS	COM	040413106	772,015	-134,146	-14.80	181,817	9.09	0.0850
2023-11-13	2023-09-30	13F	ARISTA NETWORKS	COM	040413106	906,161	-117,738	-11.50	166,670	0.44	0.0847
2023-08-11	2023-06-30	13F	ARISTA NETWORKS	COM	040413106	1,023,899	104,243	11.33	165,933	7.49	0.0789
2023-05-12	2023-03-31	13F	ARISTA NETWORKS	COM	040413106	919,656	-31,842	-3.35	154,373	33.70	0.0775
2023-02-10	2022-12-31	13F	ARISTA NETWORKS	COM	040413106	951,498	-190,496	-16.68	115,464	-10.44	0.0600
2022-11-14	2022-09-30	13F	ARISTA NETWORKS	COM	040413106	1,141,994	-74,495	-6.12	128,919	13.05	0.0703
2022-08-11	2022-06-30	13F	ARISTA NETWORKS	COM	040413106	1,216,489	156,665	14.78	114,033	-22.58	0.0565
2022-05-13	2022-03-31	13F	ARISTA NETWORKS	COM	040413106	1,059,824	64,998	6.53	147,294	3.00	0.0589
2022-02-11	2021-12-31	13F	ARISTA NETWORKS	COM	040413106	994,826	904,182	997.51	143,006	359.12	0.0516
2021-11-12	2021-09-30	13F	ARISTA NETWORKS	COM	040413106	90,644	78,193	628.01	31,148	590.49	0.0117
2021-08-13	2021-06-30	13F	ARISTA NETWORKS	COM	040413106	12,451	1,821	17.13	4,511	40.53	0.0017
2021-05-13	2021-03-31	13F	ARISTA NETWORKS	COM	040413106	10,630	-2,752	-20.56	3,210	-17.44	0.0013
2021-02-10	2020-12-31	13F	ARISTA NETWORKS	COM	040413106	13,382	4,500	50.66	3,888	111.65	0.0016
2020-11-12	2020-09-30	13F	ARISTA NETWORKS	COM	040413106	8,882	2,007	29.19	1,837	14.31	0.0009
2020-08-13	2020-06-30	13F	ARISTA NETWORKS	COM	040413106	6,875	6,875		1,607		0.0008
2019-11-14	2019-09-30	13F	ARISTA NETWORKS	COM	040413106	0	-124,788	-100.00	0	-100.00
2019-08-14	2019-06-30	13F	ARISTA NETWORKS	COM	040413106	124,788	3,482	2.87	32,398	-15.07	0.0172
2019-05-15	2019-03-31	13F/A-1	ARISTA NETWORKS	COM	040413106	121,306	6,596	5.75	38,145	57.83	0.0204
2019-05-14	2019-03-31	13F	ARISTA NETWORKS	COM	040413106	121,306	6,596		38,145
2019-02-12	2018-12-31	13F	ARISTA NETWORKS	COM	040413106	114,710	-2,677	-2.28	24,169	-22.56	0.0146
2018-11-13	2018-09-30	13F	ARISTA NETWORKS	COM	040413106	117,387	27,235	30.21	31,209	34.44	0.0155
2018-08-14	2018-06-30	13F	ARISTA NETWORKS	COM	040413106	90,152	-2,653	-2.86	23,214	-2.02	0.0119
2018-05-10	2018-03-31	13F	ARISTA NETWORKS	COM	040413106	92,805	15,905	20.68	23,693	30.78	0.0120
2018-02-14	2017-12-31	13F	ARISTA NETWORKS	COM	040413106	76,900	-25,800	-25.12	18,116	-6.97	0.0087
2017-11-13	2017-09-30	13F	ARISTA NETWORKS	COM	040413106	102,700	42,500	70.60	19,473	115.96	0.0095
2017-08-10	2017-06-30	13F	ARISTA NETWORKS	COM	040413106	60,200	30,000	99.34	9,017	125.71	0.0045
2017-05-12	2017-03-31	13F	ARISTA NETWORKS	COM	040413106	30,200	30,200		3,995		0.0020

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.