Palo Alto Networks, Inc.
US ˙ NasdaqGS ˙ US6974351057

SecurityPANW / Palo Alto Networks, Inc.
InstitutionCIBC Private Wealth Group, LLC
Latest Disclosed Ownership955,998 shares
Latest Disclosed Value $ 176,094,867
CIBC Private Wealth Group, LLC reports 2.42% decrease in ownership of PANW / Palo Alto Networks, Inc.

On February 12, 2026 - CIBC Private Wealth Group, LLC filed a 13F-HR form disclosing ownership of 955,998 shares of Palo Alto Networks, Inc. (US:PANW) valued at $176,094,832 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 24, 2025 disclosing 979,731 shares of Palo Alto Networks, Inc.. This represents a change in shares of -2.42% during the quarter. The current value of the position is $260,079,256 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 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 PALO ALTO NETWORKS COM 697435105 955,998 -23,733 -2.42 176,095 -11.73 0.2977
2025-11-24 2025-09-30 13F PALO ALTO NETWORKS COM 697435105 979,731 -13,245 -1.33 199,493 -1.83 0.3415
2025-08-12 2025-06-30 13F PALO ALTO NETWORKS COM 697435105 992,976 5,848 0.59 203,203 34.96 0.3630
2025-05-14 2025-03-31 13F PALO ALTO NETWORKS COM 697435105 987,128 -59,771 -5.71 150,567 -16.78 0.3180
2025-02-12 2024-12-31 13F Palo Alto Networks COM 697435105 1,046,899 314,302 42.90 180,936 -27.74 0.3280
2024-11-13 2024-09-30 13F Palo Alto Networks COM 697435105 732,597 2,541 0.35 250,402 1.58 0.4487
2024-08-09 2024-06-30 13F Palo Alto Networks COM 697435105 730,056 12,931 1.80 246,496 23.02 0.4623
2024-05-10 2024-03-31 13F Palo Alto Networks COM 697435105 717,125 -252,029 -26.01 200,379 -29.88 0.3925
2024-02-13 2023-12-31 13F PALO ALTO NETWORKS INC COM COM 697435105 969,154 -60,961 -5.92 285,784 18.34 0.6053
2023-11-13 2023-09-30 13F PALO ALTO NETWORKS INC COM COM 697435105 1,030,115 -202,044 -16.40 241,500 -23.29 0.5715
2023-11-21 2023-06-30 13F/A-1 PALO ALTO NETWORKS INC COM COM 697435105 1,232,159 -59,145 -4.58 314,829 45.44 0.6883
2023-08-10 2023-06-30 13F PALO ALTO NETWORKS INC COM COM 697435105 1,232,159 -59,145 314,829 0.6885
2023-11-21 2023-03-31 13F/A-1 PALO ALTO NETWORKS INC COM COM 697435105 1,291,304 8,155 0.64 216,463 483.68 0.4792
2023-05-12 2023-03-31 13F PALO ALTO NETWORKS INC COM COM 697435105 1,291,304 8,155 216,463 0.4705
2023-06-01 2022-12-31 13F/A-2 PALO ALTO NETWORKS INC COM COM 697435105 1,283,149 -139,006 -9.77 37,086 -84.08 0.1246
2023-02-14 2022-12-31 13F/A-1 PALO ALTO NETWORKS INC COM COM 697435105 1,283,149 -139,006 179,051 0.4422
2023-02-13 2022-12-31 13F PALO ALTO NETWORKS INC COM COM 697435105 2,559,318 1,137,163 357,144 0.0004
2022-11-15 2022-09-30 13F PALO ALTO NETWORKS INC COM COM 697435105 1,422,155 940,107 195.02 232,934 -2.17 0.6274
2022-08-03 2022-06-30 13F PALO ALTO NETWORKS COM 697435105 482,048 -28,856 -5.65 238,103 -25.13 0.6184
2022-05-16 2022-03-31 13F PALO ALTO NETWORKS COM 697435105 510,904 47,921 10.35 318,043 23.38 0.6942
2022-04-04 2021-12-31 13F/A-1 PALO ALTO NETWORKS COM 697435105 462,983 141,612 44.06 257,771 67.45 0.5346
2022-02-08 2021-12-31 13F PALO ALTO NETWORKS COM 697435105 462,983 141,612 257,771 0.5346
2021-11-12 2021-09-30 13F PALO ALTO NETWORKS COM 697435105 321,371 276,255 612.32 153,936 819.57 0.3581
2021-08-16 2021-06-30 13F PALO ALTO NETWORKS COM 697435105 45,116 -2,278 -4.81 16,740 9.67 0.0385
2021-05-12 2021-03-31 13F PALO ALTO NETWORKS COM 697435105 47,394 8,432 21.64 15,264 10.23 0.0384
2021-02-12 2020-12-31 13F PALO ALTO NETWORKS COM 697435105 38,962 -268 -0.68 13,847 44.21 0.0366
2020-11-03 2020-09-30 13F/A-1 PALO ALTO NETWORKS COM 697435105 39,230 39,230 9,602 0.0294
2020-08-13 2020-06-30 13F PALO ALTO NETWORKS COM 697435105 0 -28,642 -100.00 0 -100.00
2020-05-15 2020-03-31 13F PALO ALTO NETWORKS COM 697435105 28,642 -42,319 -59.64 4,696 -71.38 0.0201
2020-01-30 2019-12-31 13F PALO ALTO NETWORKS COM 697435105 70,961 15,820 28.69 16,410 46.01 0.0535
2019-10-16 2019-09-30 13F PALO ALTO NETWORKS COM 697435105 55,141 2,790 5.33 11,239 5.37 0.0395
2019-07-31 2019-06-30 13F PALO ALTO NETWORKS COM 697435105 52,351 46,248 757.79 10,666 619.70 0.0374
2019-05-10 2019-03-31 13F PALO ALTO NETWORKS COM 697435105 6,103 6,103 1,482 0.0057
2018-11-14 2018-09-30 13F PALO ALTO NETWORKS COM 697435105 0 -515 -100.00 0 -100.00
2018-08-02 2018-06-30 13F PALO ALTO NETWORKS COM 697435105 515 495 2,475.00 106 2,550.00 0.0004
2018-05-17 2018-03-31 13F PALO ALTO NETWORKS COM 697435105 20 -6 -23.08 4 0.00 0.0000
2018-02-12 2017-12-31 13F PALO ALTO NETWORKS COM 697435105 26 26 4 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.