Palo Alto Networks, Inc.
US ˙ NasdaqGS ˙ US6974351057

SecurityPANW / Palo Alto Networks, Inc.
InstitutionNeuberger Berman Group LLC
Latest Disclosed Ownership1,110,799 shares
Latest Disclosed Value $ 178,129,777
Neuberger Berman Group LLC reports 14.49% increase in ownership of PANW / Palo Alto Networks, Inc.

On May 14, 2026 - Neuberger Berman Group LLC filed a 13F-HR form disclosing ownership of 1,110,799 shares of Palo Alto Networks, Inc. (US:PANW) valued at $178,083,296 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 970,223 shares of Palo Alto Networks, Inc.. This represents a change in shares of 14.49% during the quarter. The current value of the position is $311,501,364 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)
2026-05-14 2026-03-31 13F PALO ALTO NETWORKS Common 697435105 1,110,799 140,576 14.49 178,130 -0.33 0.1356
2026-02-13 2025-12-31 13F PALO ALTO NETWORKS Common 697435105 970,223 27,653 2.93 178,715 -6.88 0.1330
2025-11-12 2025-09-30 13F PALO ALTO NETWORKS Common 697435105 942,570 -9,094 -0.96 191,926 -1.45 0.1403
2025-08-25 2025-06-30 13F/A-1 PALO ALTO NETWORKS Common 697435105 951,664 -54,752 -5.44 194,748 13.40 0.1499
2025-08-13 2025-06-30 13F PALO ALTO NETWORKS Common 697435105 951,664 -54,752 194,748 0.0775
2025-05-13 2025-03-31 13F PALO ALTO NETWORKS Common 697435105 1,006,416 19,721 2.00 171,735 -4.35 0.1438
2025-02-13 2024-12-31 13F PALO ALTO NETWORKS Common 697435105 986,695 473,844 92.39 179,539 2.42 0.1425
2024-11-14 2024-09-30 13F PALO ALTO NETWORKS Common 697435105 512,851 -29,578 -5.45 175,293 -4.67 0.1368
2024-11-14 2024-06-30 13F/A-1 PALO ALTO NETWORKS Common 697435105 542,429 5,715 1.06 183,889 20.59 0.1509
2024-08-13 2024-06-30 13F PALO ALTO NETWORKS Common 697435105 542,429 5,715 183,889 0.1509
2024-11-14 2024-03-31 13F/A-1 PALO ALTO NETWORKS Common 697435105 536,714 -134,155 -20.00 152,497 -22.91 0.1260
2024-05-13 2024-03-31 13F PALO ALTO NETWORKS Common 697435105 536,714 -134,155 152,497 0.1260
2024-11-14 2023-12-31 13F/A-2 PALO ALTO NETWORKS Common 697435105 670,869 -529,281 -44.10 197,826 -29.74 0.1725
2024-02-09 2023-12-31 13F PALO ALTO NETWORKS Common 697435105 670,869 -529,281 197,826 0.1725
2023-11-14 2023-09-30 13F PALO ALTO NETWORKS Common 697435105 1,200,150 118,315 10.94 281,576 2.39 0.2566
2023-08-11 2023-06-30 13F PALO ALTO NETWORKS Common 697435105 1,081,835 -107,304 -9.02 275,012 18.15 0.2459
2023-05-12 2023-03-31 13F PALO ALTO NETWORKS Common 697435105 1,189,139 707,436 146.86 232,760 245.98 0.2159
2023-02-13 2022-12-31 13F PALO ALTO NETWORKS Common 697435105 481,703 -89,367 -15.65 67,277 -28.26 0.0660
2022-11-15 2022-09-30 13F PALO ALTO NETWORKS Common 697435105 571,070 315,259 123.24 93,774 -25.71 0.0979
2022-08-15 2022-06-30 13F PALO ALTO NETWORKS Common 697435105 255,811 3,734 1.48 126,234 -19.56 0.1269
2022-05-23 2022-03-31 13F/A-1 PALO ALTO NETWORKS Common 697435105 252,077 -13,538 -5.10 156,920 6.36 0.1330
2022-05-13 2022-03-31 13F PALO ALTO NETWORKS Common 697435105 252,028 -13,587 156,095 0.0696
2022-02-11 2021-12-31 13F PALO ALTO NETWORKS Common 697435105 265,615 84,289 46.48 147,538 70.22 0.1158
2021-11-12 2021-09-30 13F PALO ALTO NETWORKS Common 697435105 181,326 168,048 1,265.61 86,674 1,695.98 0.0758
2021-08-13 2021-06-30 13F PALO ALTO NETWORKS Common 697435105 13,278 152 1.16 4,826 15.29 0.0042
2021-05-13 2021-03-31 13F PALO ALTO NETWORKS Common 697435105 13,126 829 6.74 4,186 -3.97 0.0040
2021-02-10 2020-12-31 13F PALO ALTO NETWORKS Common 697435105 12,297 -755 -5.78 4,359 36.47 0.0045
2020-11-12 2020-09-30 13F PALO ALTO NETWORKS Common 697435105 13,052 -516 -3.80 3,194 2.50 0.0038
2020-08-13 2020-06-30 13F PALO ALTO NETWORKS Common 697435105 13,568 -35,447 -72.32 3,116 -61.26 0.0039
2020-05-14 2020-03-31 13F PALO ALTO NETWORKS Common 697435105 49,015 -480,916 -90.75 8,043 -93.44 0.0123
2020-02-12 2019-12-31 13F PALO ALTO NETWORKS Common 697435105 529,931 21,028 4.13 122,553 18.15 0.1430
2019-11-13 2019-09-30 13F PALO ALTO NETWORKS Common 697435105 508,903 -54,583 -9.69 103,729 -9.66 0.1267
2019-08-13 2019-06-30 13F PALO ALTO NETWORKS Common 697435105 563,486 38,753 7.39 114,816 -9.91 0.1373
2019-05-13 2019-03-31 13F PALO ALTO NETWORKS Common 697435105 524,733 358,412 215.49 127,447 306.83 0.1562
2019-02-12 2018-12-31 13F PALO ALTO NETWORKS Common 697435105 166,321 12,055 7.81 31,327 -9.85 0.0437
2018-11-16 2018-09-30 13F/A-1 PALO ALTO NETWORKS Common 697435105 154,266 78,130 102.62 34,750 122.13 0.0394
2018-11-13 2018-09-30 13F PALO ALTO NETWORKS Common 697435105 154,266 78,130 34,750
2018-08-13 2018-06-30 13F PALO ALTO NETWORKS Common 697435105 76,136 -191 -0.25 15,644 12.91 0.0173
2018-05-08 2018-03-31 13F PALO ALTO NETWORKS Common 697435105 76,327 -4,843 -5.97 13,855 17.77 0.0158
2018-02-14 2017-12-31 13F PALO ALTO NETWORKS Common 697435105 81,170 -2,194 -2.63 11,764 -2.07 0.0135
2017-11-15 2017-09-30 13F PALO ALTO NETWORKS COMMON STOCK 697435105 83,364 -6,051 -6.77 12,013 0.40 0.0150
2017-08-08 2017-06-30 13F PALO ALTO NETWORKS COMMON STOCK 697435105 89,415 35,996 67.38 11,965 98.79 0.0154
2017-05-10 2017-03-31 13F PALO ALTO NETWORKS COMMON STOCK 697435105 53,419 15,269 40.02 6,019 26.16 0.0078
2017-02-06 2016-12-31 13F PALO ALTO NETWORKS COMMON STOCK 697435105 38,150 2,232 6.21 4,771 -16.63 0.0064
2016-11-02 2016-09-30 13F PALO ALTO NETWORKS COMMON STOCK 697435105 35,918 -105,589 -74.62 5,723 -67.02 0.0078
2016-08-05 2016-06-30 13F PALO ALTO NETWORKS COMMON STOCK 697435105 141,507 47,819 51.04 17,354 13.54 0.0239
2016-05-06 2016-03-31 13F PALO ALTO NETWORKS COMMON STOCK 697435105 93,688 36,613 64.15 15,284 52.03 0.0210
2016-01-28 2015-12-31 13F PALO ALTO NETWORKS COMMON STOCK 697435105 57,075 -148,481 -72.23 10,053 -71.57 0.0132
2015-11-10 2015-09-30 13F PALO ALTO NETWORKS COMMON STOCK 697435105 205,556 -30,650 -12.98 35,356 -14.32 0.0456
2015-07-31 2015-06-30 13F PALO ALTO NETWORKS COMMON STOCK 697435105 236,206 -1,903 -0.80 41,265 18.64 0.0459
2015-05-06 2015-03-31 13F PALO ALTO NETWORKS COMMON STOCK 697435105 238,109 238,109 0.00 34,783 0.0371
2015-02-05 2014-12-31 13F PALO ALTO NETWORKS COMMON STOCK 697435105 0 -274,656 -100.00 0 -100.00
2014-11-04 2014-09-30 13F PALO ALTO NETWORKS COMMON STOCK 697435105 274,656 81,956 42.53 26,943 66.75 0.0276
2014-08-05 2014-06-30 13F PALO ALTO NETWORKS COMMON STOCK 697435105 192,700 192,700 16,158 0.0158
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.